Search results for: financial behavior

Authors: S. Jakšić, B. Žmuk

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The paper investigates the key factors of export dynamics for a set of Central and Southeast European (CSEE) countries in the context of current economic and financial crisis. In order to model the export dynamics a Global Vector Auto Regressive (GVAR) model is defined. As opposed to models which model each country separately, the GVAR combines all country models in a global model which enables obtaining important information on spillover effects in the context of globalisation and rising international linkages. The results of the study indicate that for most of the CSEE countries, exports are mainly driven by domestic shocks, both in the short run and in the long run. This study is the first application of the GVAR model to studying the export dynamics in the CSEE countries and therefore the results of the study present an important empirical contribution.

Keywords: Export, GFEVD, Global VAR, International trade, weak exogeneity.

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Authors: Mario Spremić

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Despite the financial crisis and ongoing need for cost cutting, companies all around the world heavily invest in Information Systems (IS) and underlying Information Technology (IT). Proliferation of governance of enterprise IT helps companies manage, or rather, governs IS as a primary business function with executive management involved in making decision about IS and IT. The business value of IT is raising with the involvement of the executive management in IT decision making process and quality IT governance mechanisms in place. In this paper the practice of governing the enterprise IT will be investigated on a sample of the largest 100 Croatian companies. Research questions posed here will reveal if there are some formal IT governance mechanisms, are there any differences in perceived role of IS and IT between CIOs (Chief Information Officers) and CEOs (Chief Executive Officers) of the sampled companies and what are the mechanisms to govern massive investment in enterprise IT.

Keywords: IT governance, governance of enterprise IT, information system auditing, IT maturity.

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Authors: Xun Liang

Abstract:

In this paper, we probe into the traffic assignment problem by the chromosome-learning-based path finding method in simulation, which is to model the driver' behavior in the with-in-a-day process. By simply making a combination and a change of the traffic route chromosomes, the driver at the intersection chooses his next route. The various crossover and mutation rules are proposed with extensive examples.

Keywords: Chromosome learning, crossover, mutation, traffic path finding.

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Authors: Noor Azlina Mohd Salleh, Salmiah Kasolang, Ahmed Jaffar

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Integrated Total Quality Management (TQM) with Lean Manufacturing (LM) is a system comprises of TQM with LM principles and is associated with financial and nonfinancial performance measurement indicators. The ultimate goal of this system is to focus on achieving total customer satisfaction by removing eight wastes available in any process in an organization. A survey questionnaire was developed and distributed to 30 highly active automotive vendors in Malaysia and analyzed by PASW Statistics 18. It was found out that these vendors have been practicing and measuring the effectiveness TQM and LM implementation. More involvement of all Malaysian automotive vendors will represent the exact status of current Malaysian automotive industry in implementing TQM and LM and can determine whether the industry is ready for integrated TQM and LM system. This is the first study that combined 4 awards practices, ISO/TS16949, Toyota Production System and SAEJ4000.

Keywords: Automotive Industry, Lean Manufacturing, Operational Engineering Management, Total Quality Management

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Authors: Syed Muhammad Aqil Burney, Tahseen Ahmed Jilani, C. Ardil

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Minimization methods for training feed-forward networks with Backpropagation are compared. Feedforward network training is a special case of functional minimization, where no explicit model of the data is assumed. Therefore due to the high dimensionality of the data, linearization of the training problem through use of orthogonal basis functions is not desirable. The focus is functional minimization on any basis. A number of methods based on local gradient and Hessian matrices are discussed. Modifications of many methods of first and second order training methods are considered. Using share rates data, experimentally it is proved that Conjugate gradient and Quasi Newton?s methods outperformed the Gradient Descent methods. In case of the Levenberg-Marquardt algorithm is of special interest in financial forecasting.

Keywords: Backpropagation algorithm, conjugacy condition, line search, matrix perturbation

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Authors: Eugene Allevato

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Developing a responsible personal worldview is central to sustainable development, but achieving quality education to promote transformative learning for sustainability is thus far, poorly understood. Most programs involving education for sustainable development rely on changing behavior, rather than attitudes. The emphasis is on the scientific and utilitarian aspect of sustainability with negligible importance on the intrinsic value of nature. Campus sustainability projects include building sustainable gardens and implementing energy-efficient upgrades, instead of focusing on educating for sustainable development through exploration of students’ values and beliefs. Even though green technology adoption maybe the right thing to do, most schools are not targeting the root cause of the environmental crisis; they are just providing palliative measures. This study explores the under-examined factors that lead to pro-environmental behavior by investigating the environmental perceptions of both college business students and personnel of green organizations. A mixed research approach of qualitative, based on structured interviews, and quantitative instruments was developed including 30 college-level students’ interviews and 40 green organization staff members involved in sustainable activities. The interviews were tape-recorded and transcribed for analysis. Categorization of the responses to the open‐ended questions was conducted with the purpose of identifying the main types of factors influencing attitudes and correlating with behaviors. Overall the findings of this study indicated a lack of appreciation for nature, and inability to understand interconnectedness and apply critical thinking. The results of the survey conducted on undergraduate students indicated that the responses of business and liberal arts students by independent t-test were significantly different, with a p‐value of 0.03. While liberal arts students showed an understanding of human interdependence with nature and its delicate balance, business students seemed to believe that humans were meant to rule over the rest of nature. This result was quite intriguing from the perspective that business students will be defining markets, influencing society, controlling and managing businesses that supposedly, in the face of climate change, shall implement sustainable activities. These alarming results led to the focus on green businesses in order to better understand their motivation to engage in sustainable activities. Additionally, a probit model revealed that childhood exposure to nature has a significantly positive impact in pro-environmental attitudes to most of the New Ecological Paradigm scales. Based on these findings, this paper discusses educators including Socrates, John Dewey and Paulo Freire in the implementation of eco-pedagogy and transformative learning following a curriculum with emphasis on critical and systems thinking, which are deemed to be key ingredients in quality education for sustainable development.

Keywords: Eco-pedagogy, environmental behavior, quality education for sustainable development, transformative learning.

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Authors: Israngkura Na Ayudhya B, Kunishima M.

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This paper analysis performance of disbursement procedure of public works project in Thailand. The results of research were summarised based on contracts, submitted invoice, inspection dated, copies of disbursement dated between client and their main contractor and interviewed with persons involved in central and local government projects during 1994-2008 in Thailand. The data collection was to investigate the disbursement procedure related to performance in disbursement during construction period (Planned duration of contract against Actual execution date in each month). A graphical presentation of a duration analysis of the projects illustrated significant disbursement formation in each project. It was established that the shortage of staff, the financial stability of clients, bureaucratic, method of disbursement and economics situation has play major role on performance of disbursement to their main contractors.

Keywords: Construction disbursement, Payment procedure, Public works

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Authors: Laleh Taheri, Noraini C. Pa., Rusli Abdullah, Salfarina Abdullah

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Knowledge plays an important role to the success of any organization. Software development organizations are highly knowledge-intensive organizations especially in their requirement elicitation process (REP). There are several problems regarding communicating and using the knowledge in REP such as misunderstanding, being out of scope, conflicting information and changes of requirements. All of these problems occurred in transmitting the requirements knowledge during REP. Several researches have been done in REP in order to solve the problem towards requirements. Knowledge Audit (KA) approaches were proposed in order to solve managing knowledge in human resources, financial and manufacturing. There is lack of study applying the KA in requirements elicitation process. Therefore, this paper proposes a KA model for REP in supporting to acquire good requirements.

Keywords: Knowledge Audit, Requirement Elicitation Process, KA Model, Knowledge in Requirement Elicitation.

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Authors: Latha Parameswaran, K. Anbumani

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Multimedia security is an incredibly significant area of concern. A number of papers on robust digital watermarking have been presented, but there are no standards that have been defined so far. Thus multimedia security is still a posing problem. The aim of this paper is to design a robust image-watermarking scheme, which can withstand a different set of attacks. The proposed scheme provides a robust solution integrating image moment normalization, content dependent watermark and discrete wavelet transformation. Moment normalization is useful to recover the watermark even in case of geometrical attacks. Content dependent watermarks are a powerful means of authentication as the data is watermarked with its own features. Discrete wavelet transforms have been used as they describe image features in a better manner. The proposed scheme finds its place in validating identification cards and financial instruments.

Keywords: Watermarking, moments, wavelets, content-based, benchmarking.

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Authors: S. Ben Said, K. Ben Saad, M. Benrejeb

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This paper deals with bifurcation analyses in current programmed DC/DC Boost converter and exhibition of chaotic behavior. This phenomenon occurs due to variation of a set of the studied circuit parameters (input voltage and a reference current). Two different types of bifurcation paths have been observed as part as part of another bifurcation arising from variation of suitable chosen parameter.

Keywords: Bifurcation, Chaos, Boost converter, Current- programmed control, Initial parameters.

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Authors: Jin Zhang, Wing Lon Ng

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In recent years, copulas have become very popular in financial research and actuarial science as they are more flexible in modelling the co-movements and relationships of risk factors as compared to the conventional linear correlation coefficient by Pearson. However, a precise estimation of the copula parameters is vital in order to correctly capture the (possibly nonlinear) dependence structure and joint tail events. In this study, we employ two optimization heuristics, namely Differential Evolution and Threshold Accepting to tackle the parameter estimation of multivariate t distribution models in the EML approach. Since the evolutionary optimizer does not rely on gradient search, the EML approach can be applied to estimation of more complicated copula models such as high-dimensional copulas. Our experimental study shows that the proposed method provides more robust and more accurate estimates as compared to the IFM approach.

Keywords: Copula Models, Student t Copula, Parameter Inference, Differential Evolution, Threshold Accepting.

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Authors: M. Ishak, K. Yamasaki, K. Maekawa

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Magnesium alloys have gained increased attention in recent years in automotive, electronics, and medical industry. This because of magnesium alloys have better properties than aluminum alloys and steels in respects of their low density and high strength to weight ratio. However, the main problems of magnesium alloy welding are the crack formation and the appearance of porosity during the solidification. This paper proposes a unique technique to weld two thin sheets of AZ31B magnesium alloy using a paste containing Ag nanoparticles. The paste containing Ag nanoparticles of 5 nm in average diameter and an organic solvent was used to coat the surface of AZ31B thin sheet. The coated sheet was heated at 100 °C for 60 s to evaporate the solvent. The dried sheet was set as a lower AZ31B sheet on the jig, and then lap fillet welding was carried out by using a pulsed Nd:YAG laser in a closed box filled with argon gas. The characteristics of the microstructure and the corrosion behavior of the joints were analyzed by opticalmicroscopy (OM), energy dispersive spectrometry (EDS), electron probe micro-analyzer (EPMA), scanning electron microscopy (SEM), and immersion corrosion test. The experimental results show that the wrought AZ31B magnesium alloy can be joined successfully using Ag nanoparticles. Ag nanoparticles insert promote grain refinement, narrower the HAZ width and wider bond width compared to weld without and insert. Corrosion rate of welded AZ31B with Ag nanoparticles reduced up to 44 % compared to base metal. The improvement of corrosion resistance of welded AZ31B with Ag nanoparticles due to finer grains and large grain boundaries area which consist of high Al content. β-phase Mg17Al12 could serve as effective barrier and suppressed further propagation of corrosion. Furthermore, Ag distribution in fusion zone provide much more finer grains and may stabilize the magnesium solid solution making it less soluble or less anodic in aqueous

Keywords: Laser welding, magnesium alloys, nanoparticles, mechanical property

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Authors: S. Chikhi, M. Batouche, H. Shout

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In this paper, we combine a probabilistic neural method with radial-bias functions in order to construct the lithofacies of the wells DF01, DF02 and DF03 situated in the Triassic province of Algeria (Sahara). Lithofacies is a crucial problem in reservoir characterization. Our objective is to facilitate the experts' work in geological domain and to allow them to obtain quickly the structure and the nature of lands around the drilling. This study intends to design a tool that helps automatic deduction from numerical data. We used a probabilistic formalism to enhance the classification process initiated by a Self-Organized Map procedure. Our system gives lithofacies, from well-log data, of the concerned reservoir wells in an aspect easy to read by a geology expert who identifies the potential for oil production at a given source and so forms the basis for estimating the financial returns and economic benefits.

Keywords: Classification, Lithofacies, Probabilistic formalism, Reservoir characterization, Well-log data.

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Authors: Tsutomu Ichikawa

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The Kumamoto area, Kyushu, Japan has 1,041km2 in area and about 1milion in population. This area is a greatest area in Japan which depends on groundwater for all of drinking water. Quantity of this local groundwater use is about 200MCM during the year. It is understood that the main recharging area of groundwater exist in the rice field zone which have high infiltrate height ahead of 100mm/ day of the irrigated water located in the middle area of the Shira-River Basin. However, by decrease of the paddy-rice planting area by urbanization and an acreage reduction policy, the groundwater income and expenditure turned worse. Then Kumamoto city and four companies expended financial support to increase recharging water to underground by ponded water in the field from 2004. In this paper, the author reported the situation of recovery of groundwater by recharge and estimates the efficiency of recharge by statistical method.

Keywords: Groundwater recharge, groundwater level, spring water, paddy field.

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Authors: Tomáš Brabenec

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Cost contribution arrangements (CCAs) and Cost sharing agreements (CCAs) belong to the tools of modern finance management. Costs spend by associated enterprises on developing producing or obtaining assets, services or rights (in general - benefits) are used for tax optimizing too. The main purpose of joint research and development, producing or obtaining benefits is to lower these costs as much as possible or to maximize the benefits. In this article is mentioned the problematic of transfer pricing and arm's length principle with connection of CCAs, CSAs. Next, there is mentioned how to settle participation shares of the total cost and benefits contributions with respect to the OECD Transfer pricing for MNEs Guidelines and with respect to other significant regulations.

Keywords: Arm's length principle, Cost contribution arrangements, Cost sharing agreements, Reasonable anticipated benefits, Relevant costs, Transfer prices.

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Authors: Mahdi Ebrahimzadeh

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In this paper we introduce an ultra low power CMOS LC oscillator and analyze a method to design a low power low phase noise complementary CMOS LC oscillator. A 1.8GHz oscillator is designed based on this analysis. The circuit has power supply equal to 1.1 V and dissipates 0.17 mW power. The oscillator is also optimized for low phase noise behavior. The oscillator phase noise is -126.2 dBc/Hz and -144.4 dBc/Hz at 1 MHz and 8 MHz offset respectively.

Keywords: LC oscillator, Low Power, Low Phase Noise

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Authors: Jan Sedlacek

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The paper focuses on the implementation phase of the strategy of the European Union and the national strategy of the Czech Republic to promote academic and research staff with the potential to produce results that provide innovation useful for economic growth. It deals with the use of financial resources of the Operational Program Education for Competitiveness at the University of West Bohemia in Pilsen. The author presents an example of two strategic projects in the field of human resources – Excellence in Human Resources as a Source of Competitiveness and New Excellence of Human Resources. The subject of this paper is the potential contribution of newly recruited postdoctoral within these projects for the University of West Bohemia in Pilsen and its internal environment.

Keywords: EU funds, public universities, human resources, results of research, funding.

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Authors: Tanyatorn Panyasopon

Abstract:

Many Thai movies have been very popular domestically and internationally. Some movies were box office hits and receiving awards. However, there has not yet been research about how Thai movies can sell in international markets The objectives of the research were 1) To analyze the characteristics of Thai movies that can sell to world audiences; 2) To investigate the factors making Thai movies into foreign markets. Thai film professionals were interviewed. Their ideas were analyzed to find out what factors contributing to Thai movies widely seen in worldwide markets. Nine foreign audiences were also interviewed to reveal what characteristics of Thai movies would be well accepted by the markets. The results showed that major characteristics of Thai movies proving successful worldwide were cultural and exotic Thai movies, outstanding genres, well-known actors, music and songs. Factors contributing to global market were marketing, qualities of Thai movies, and financial support from the government.

Keywords: Characteristics, factors, international markets, Thai movies.

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Authors: Josip Visković, Ana Rimac Smiljanić, Ines Ivić

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Housing loans play an important role in CEE countries’ economies. This fact is based on their share in total loans to households and their importance for economic activity and growth in CEE countries. Therefore, it is important to find out key determinants of housing loans demand in these countries. The aim of this study is to research and analyze the determinants of the demand for housing loans in Croatia. In this regard, the effect of economic activity, loan terms and real estate prices were analyzed. Also, the aim of this study is to find out what motivates people to take housing loans. Therefore, primarily empirical study was conducted among the Croatian residents. The results show that demand for housing loans is positively affected by economic growth, higher personal income and flexible loan terms, while it is negatively affected by interest rate rise.

Keywords: CEE countries, Croatia, demand determinants, housing loans.

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Authors: A. A. AlRasheed, A. Atkins, R. Campion

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This paper focuses on using knowledge management and visualisation concepts to improve the patients and hospitals employee’s workflow. Hospitals workflow is a complex and complicated process and poor patient flow can put both patients and a hospital’s reputation at risk, and can threaten the facility’s financial sustainability. Healthcare leaders are under increased pressure to reduce costs while maintaining or increasing patient care standards. In this paper, a framework is proposed to help improving patient experience, staff satisfaction, and operational efficiency across hospitals by using knowledge management based visualisation concepts. This framework is using real-time visibility to track and monitor location and status of patients, staff, rooms, and medical equipment.

Keywords: Knowledge management, visualisation, patients, hospitals, healthcare workers, workflow, improvements.

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Authors: A. P. Anvar, T. Dowling, T. Putland, A. M. Anvar, S.Grainger

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This paper presents the application of Intelligent Techniques to the various duties of Intelligent Condition Monitoring Systems (ICMS) for Unmanned Aerial Vehicle (UAV) Robots. These Systems are intended to support these Intelligent Robots in the event of a Fault occurrence. Neural Networks are used for Diagnosis, whilst Fuzzy Logic is intended for Prognosis and Remedy. The ultimate goals of ICMS are to save large losses in financial cost, time and data.

Keywords: Intelligent Techniques, Condition Monitoring Systems, ICMS, Robots, Fault, Unmanned Aerial Vehicle, UAV, Neural Networks, Diagnosis, Fuzzy Logic, Prognosis, Remedy.

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Authors: Amel Abdoullah Ahmed Dghais, Mohd Tahir Ismail

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In this paper the core objective is to apply discrete wavelet transform and maximal overlap discrete wavelet transform functions namely Haar, Daubechies2, Symmlet4, Coiflet2 and discrete approximation of the Meyer wavelets in non stationary financial time series data from Dow Jones index (DJIA30) of US stock market. The data consists of 2048 daily data of closing index from December 17, 2004 to October 23, 2012. Unit root test affirms that the data is non stationary in the level. A comparison between the results to transform non stationary data to stationary data using aforesaid transforms is given which clearly shows that the decomposition stock market index by discrete wavelet transform is better than maximal overlap discrete wavelet transform for original data.

Keywords: Discrete wavelet transform, maximal overlap discrete wavelet transform, stationarity, autocorrelation function.

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Authors: Ali Payan, Bijan Rahmani Parchicolaie

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Universities have different offices such as educational, research, student, administrative, and financial offices. This paper considers universities as groups of decision making units (DMUs) in which DMUs are their offices. This approach gives us with a more just evaluation of universities instead of separate evaluation of the offices of universities. The proposed approach to evaluate group performance of universities is based on common set of weights method in DEA. The suggested method not only can compare groups and measure their efficiencies, but also can calculate the efficiency of units within group and efficiency spread of groups. At last, the suggested method is applied for the analysis of the performance of universities in 14^th district of Islamic Azad University as groups under evaluation.

Keywords: Common set of weights, group efficiency, performance analysis, spread efficiency.

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Authors: Monika Dwilinska

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Innovations, especially technological, are considered key-drivers for sustainable economic growth and competitiveness in the globalised world. As such they should also play an important role in the process of economical convergence inside the EU. Unfortunately, the problem of insufficient innovation performance concerns around half of the EU countries. Poland shows that a lack of a consistent high-tech financing system constitutes a serious obstacle for the development of innovative firms. In this article we will evaluate these questions referring to the example of Ammono S.A., a Polish company established to develop and commercialise an original technology for the production of bulk GaN crystals. We will focus on its efforts to accumulate the financial resources necessary at different stages of its development. The purpose of this article is to suggest possible ways to improve the national innovative system, which would make it more competent in generating high-tech leaders.

Keywords: High-tech financing, innovation, national innovative system

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Authors: Panagiotis Tsarchopoulos, Nicos Komninos, Christina Kakderi

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Smart cities are high on the political agenda around the globe. However, planning smart cities and deploying applications dealing with the complex problems of the urban environment is a very challenging task that is difficult to be undertaken solely by the cities. We argue that the uptake of smart city strategies is facilitated, first, through the development of smart city application repositories allowing re-use of already developed and tested software, and, second, through cloud computing which disengages city authorities from any resource constraints, technical or financial, and has a higher impact and greater effect at the city level The combination of these two solutions allows city governments and municipalities to select and deploy a large number of applications dedicated to different city functions, which collectively could create a multiplier effect with a greater impact on the urban environment.

Keywords: Smart cities, applications, cloud computing, migration to the cloud, application repositories.

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Authors: Syeda Maria Ali Shah, Asif Mansoor, Talat Sharafat Rehmani, Safia Mirza

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The stock market of any country acts as a predictor of the economy. The spread of the COVID-19 pandemic has severely impacted the global financial markets. Besides, it has also critically affected the economy of Pakistan. In this study, we consider the role of the Karachi Stock Exchange (KSE) with regard to the Pakistan Stock Exchange and quantify the impact on macroeconomic variables in presence of COVID-19. The suitable macroeconomic variables are used to quantify the impact of COVID-19 by developing the stochastic model. The sufficiency of the computed model is attained by means of available techniques in the literature. The estimated equations are used to forecast the impact of pandemic on macroeconomic variables. The constructed model can help the policymakers take counteractive measures for restricting the influence of viruses on the Karachi Stock Market.

Keywords: COVID-19, Karachi Stock Market, macroeconomic variables, stochastic model, forecasting.

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Authors: Pavla Ruzickova, Petr Teply

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There are many debates now regarding undervalued and overvalued currencies currently traded on the world financial market. This paper contributes to these debates from a theoretical point of view. We present the three most commonly used methods of estimating the equilibrium real effective exchange rate (REER): macroeconomic balance approach, external sustainability approach and equilibrium real effective exchange rate approach in the reduced form. Moreover, we discuss key concepts of the calculation of the real exchange rate (RER) based on applied explanatory variables: nominal exchange rates, terms of trade and tradable and non-tradable goods. Last but not least, we discuss the three main driving forces behind real exchange rates movements which include terms of trade, relative productivity growth and the interest rate differential.

Keywords: real exchange rate, real effective exchange rate, foreign exchange, terms of trade

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Authors: Hassan Haghighi, Sajad Ghorbani, Maryam Mohebati, Mohammad Mahdi Javanmard

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One of the most important aspects expected from ERP systems is to integrate various operations existing in administrative, financial, commercial, human resources, and production departments of the consumer organization. Also, it is often needed to integrate the new ERP system with the organization legacy systems when implementing the ERP package in the organization. Without relying on an appropriate software architecture to realize the required integration, ERP implementation processes become error prone and time consuming; in some cases, the ERP implementation may even encounters serious risks. In this paper, we propose a new architecture that is based on the agent oriented vision and supplies the integration expected from ERP systems using several independent but cooperator agents. Besides integration which is the main issue of this paper, the presented architecture will address some aspects of intelligence and learning capabilities existing in ERP systems

Keywords: enterprise resource planning, software architecture, agent oriented architecture, integration, intelligence, learning.

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Authors: S. Halioui, I. Arikan, M. Schmidt

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Tourism sector in Tunisia faces several problems that range from economic challenges to environmental degradation and social instability. These problems have been intensified because of the increased competition in the tourism market, the political instability, financial crises, and recently terrorism problems have aggravated the situation. As a consequence, a new framework that promotes sustainable tourism in the country and increases its competitiveness is urgently needed. Planning for sustainable tourism sector requires the integration of complex interactions between economic, social and environmental aspects. Sustainable tourism principles can be implemented with the help of Strategic Environmental Assessment (SEA) process, which ensures the full integration of economic, social and environmental considerations while planning for the tourism sector in Tunisia. Results of the paper have broad implications for policy makers and tourism professionals.

Keywords: Sustainable tourism, strategic environmental assessment, tourism planning, policy.

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Authors: Jamaludin Sallim

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This paper describes the challenges on the requirements engineering for developing an enterprise applications in higher education environment. The development activities include software implementation, maintenance, and enhancement and support for online transaction processing and overnight batch processing. Generally, an enterprise application for higher education environment may include Student Information System (SIS), HR/Payroll system, Financial Systems etc. By the way, there are so many challenges in requirement engineering phases in order to provide two distinctive services that are production processing support and systems development.

Keywords: enterprise applications development, enterprise information systems, business process, requirement engineering, requirement standards, software development activities, software requirement reviews.

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