Search results for: financial planning

Authors: Zakari Yaou, Lirong Cui

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In a product development process, understanding the functional behavior of the system, the role of components in achieving functions and failure modes if components/subsystem fails its required function will help develop appropriate design validation and verification program for reliability assessment. The integration of these three issues will help design and reliability engineers in identifying weak spots in design and planning future actions and testing program. This case study demonstrate the advantage of unascertained theory described in the subjective cognition uncertainty, and then applies blind number (BN) theory in describing the uncertainty of the mechanical system failure process and the same time used the same theory in bringing out another mechanical reliability system model. The practical calculations shows the BN Model embodied the characters of simply, small account of calculation but betterforecasting capability, which had the value of macroscopic discussion to some extent.

Keywords: Mechanical structure Design, time-dependent stochastic process, unascertained information, blind number theory.

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Authors: Hamidou Diallo, Marianne Guille

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This paper identifies leading triggers of deficient episodes in terms of GDP growth based on a sample of countries at different stages of development over 1994-2017. Using logit models, we build early warning systems (EWS) and our results show important differences between developing countries (DCs) and advanced economies (AEs). For AEs, the main predictors of the probability of entering in a GDP growth deficient episode are the deterioration of external imbalances and the vulnerability of fiscal position while DCs face different challenges that need to be considered. The key indicators for them are first, the low ability to pay its debts and second, their belonging or not to a common currency area. We also build homogeneous pools of countries inside AEs and DCs. For AEs, the evolution of the proportion of countries in the riskiest pool is marked first, by three distinct peaks just after the high-tech bubble burst, the global financial crisis and the European sovereign debt crisis, and second by a very low minimum level in 2006 and 2007. In contrast, the situation of DCs is characterized first by a relative stability of this proportion and then by an upward trend from 2006, that can be explained by more unfavorable socio-political environment leading to shortcomings in the fiscal consolidation.

Keywords: GDP growth, early warning system, advanced economies, developing countries.

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Authors: Ahmed K. Hasan, A. A. Zaidan, Anas Majeed, B. B. Zaidan, Rosli Salleh, Omar Zakaria, Ali Zuheir

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Wireless mesh networks based on IEEE 802.11 technology are a scalable and efficient solution for next generation wireless networking to provide wide-area wideband internet access to a significant number of users. The deployment of these wireless mesh networks may be within different authorities and without any planning, they are potentially overlapped partially or completely in the same service area. The aim of the proposed model is design a new model to Enhancement Throughput of Unplanned Wireless Mesh Networks Deployment Using Partitioning Hierarchical Cluster (PHC), the unplanned deployment of WMNs are determinates there performance. We use throughput optimization approach to model the unplanned WMNs deployment problem based on partitioning hierarchical cluster (PHC) based architecture, in this paper the researcher used bridge node by allowing interworking traffic between these WMNs as solution for performance degradation.

Keywords: Wireless Mesh Networks, 802.11s Internetworking, partitioning Hierarchical Cluste.

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Authors: Seyed Hossein Iranmanesh, Mansoureh Zarezadeh

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This paper presents an application of Artificial Neural Network (ANN) to forecast actual cost of a project based on the earned value management system (EVMS). For this purpose, some projects randomly selected based on the standard data set , and it is produced necessary progress data such as actual cost ,actual percent complete , baseline cost and percent complete for five periods of project. Then an ANN with five inputs and five outputs and one hidden layer is trained to produce forecasted actual costs. The comparison between real and forecasted data show better performance based on the Mean Absolute Percentage Error (MAPE) criterion. This approach could be applicable to better forecasting the project cost and result in decreasing the risk of project cost overrun, and therefore it is beneficial for planning preventive actions.

Keywords: Earned Value Management System (EVMS), Artificial Neural Network (ANN), Estimate At Completion, Forecasting Methods, Project Performance Measurement.

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Authors: Tin Seong Kam, Ketan Barshikar, Shaun Tan

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The advances in location-based data collection technologies such as GPS, RFID etc. and the rapid reduction of their costs provide us with a huge and continuously increasing amount of data about movement of vehicles, people and goods in an urban area. This explosive growth of geospatially-referenced data has far outpaced the planner-s ability to utilize and transform the data into insightful information thus creating an adverse impact on the return on the investment made to collect and manage this data. Addressing this pressing need, we designed and developed DIVAD, a dynamic and interactive visual analytics dashboard to allow city planners to explore and analyze city-s transportation data to gain valuable insights about city-s traffic flow and transportation requirements. We demonstrate the potential of DIVAD through the use of interactive choropleth and hexagon binning maps to explore and analyze large taxi-transportation data of Singapore for different geographic and time zones.

Keywords: Geographic Information System (GIS), MovementData, GeoVisual Analytics, Urban Planning.

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Authors: Norziana Aminudin, Titik Khawa Abdul Rahman, Ismail Musirin

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One of the factors to maintain system survivability is the adequate reactive power support to the system. Lack of reactive power support may cause undesirable voltage decay leading to total system instability. Thus, appropriate reactive power support scheme should be arranged in order to maintain system stability. The strength of a system capacity is normally denoted as system loadability. This paper presents the enhancement of system loadability through optimal reactive power planning technique using a newly developed optimization technique, termed as Multiagent Immune Evolutionary Programming (MAIEP). The concept of MAIEP is developed based on the combination of Multiagent System (MAS), Artificial Immune System (AIS) and Evolutionary Programming (EP). In realizing the effectiveness of the proposed technique, validation is conducted on the IEEE-26-Bus Reliability Test System. The results obtained from pre-optimization and post-optimization process were compared which eventually revealed the merit of MAIEP.

Keywords: Load margin, MAIEP, Maximum loading point, ORPP.

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Authors: Latha Parameswaran, K. Anbumani

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Multimedia security is an incredibly significant area of concern. The paper aims to discuss a robust image watermarking scheme, which can withstand geometric attacks. The source image is initially moment normalized in order to make it withstand geometric attacks. The moment normalized image is wavelet transformed. The first level wavelet transformed image is segmented into blocks if size 8x8. The product of mean and standard and standard deviation of each block is computed. The second level wavelet transformed image is divided into 8x8 blocks. The product of block mean and the standard deviation are computed. The difference between products in the two levels forms the watermark. The watermark is inserted by modulating the coefficients of the mid frequencies. The modulated image is inverse wavelet transformed and inverse moment normalized to generate the watermarked image. The watermarked image is now ready for transmission. The proposed scheme can be used to validate identification cards and financial instruments. The performance of this scheme has been evaluated using a set of parameters. Experimental results show the effectiveness of this scheme.

Keywords: Image moments, wavelets, content-based watermarking, moment normalization, geometric attacks.

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Authors: Zohreh Bang Tavakoli, Shuktika Chatterjee

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This study investigates the fiscal policy impact on countries’ economic growth in developing countries with a different external debt level. The fiscal policy effectiveness has been re-emphasized in the global financial crisis of 2008 with the external debt as its new contemporary driver. Different theories have proposed the economic consequence of fiscal policy, specifically for developing countries. However, fiscal policy literature is lacking research regarding the fiscal policy’s effectiveness with the external debt’s contributions through comprehensive study. Also, high levels of external debt will influence economic growth. Through foreign resources and channel of investment in which high level of debt decreases the amount of foreign investment in the developing countries. The finding of this study suggests that only countries with a low external debt level and appropriate fiscal policies and good quality institutions can gain the proper quantity and quality of foreign investors in which will help the economic growth. For this, this research is examining the impact of fiscal policy on developing countries' economic growth in the situation of different external debt levels.

Keywords: fiscal policy, external debt, gross domestic product, developing countries

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Authors: Jui-Liang Hsu

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The purpose of this study was to investigate the impact of the development of Szuchung Creek take for the cause of the critical success factors, This research is to use the depth interviews, document analysis and Modified-Delphi technique survey of nine depth interviews with experts and 14 experts of Modified-Delphi technique questionnaire and inviting as the research object, Szuchung Creek Hot Springs for the scope of the study. The results show, Szuchung Creek Hot Springs development take for career success factors for the following reasons: 1. Government. 2. Opportunities. 3. Factors of production. 4. Demand conditions. 5. Corporate structure and the degree of competition. 6. Related and supporting industries. Furthermore, Szuchung Creek hot springs, itself already has a number of critical success factors. Contingent less than or inadequacies by Szuchung Creek take for the enterprise development to take for the cause of the critical success factors as the basis for correcting, planning out for local use improvement strategies to achieve the objective of sustainable management.

Keywords: Hot spring industry, Critical Success Fators, Szuchung Creek, Take for the enterprise, Modified-Delphi technique, Hot Spring Areas.

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Authors: Ayedh Alqahtani, Andrew Whyte

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Life Cycle Cost (LCC) is one of the goals and key pillars of the construction management science because it comprises many of the functions and processes necessary, which assist organisations and agencies to achieve their goals. It has therefore become important to design and control assets during their whole life cycle, from the design and planning phase through to disposal phase. LCCA is aimed to improve the decision making system in the ownership of assets by taking into account all the cost elements including to the asset throughout its life. Current application of LCC approach is impractical during misunderstanding of the advantages of LCC. This main objective of this research is to show a different relationship between capital cost and long-term running costs. One hundred and thirty eight actual building projects in United Kingdom (UK) were used in order to achieve and measure the above-mentioned objective of the study. The result shown that LCC is one of the most significant tools should be considered on the decision making process.

Keywords: Building projects, Capital cost, Life cycle cost, Maintenance costs, Operation costs.

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Authors: Marichela Sepe

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Massive use of places with strong tourist attraction with the consequent possibility of losing place-identity produces harmful effects on cities and their users. In order to mitigate this risk, areas close to such places can be identified so as to widen the visitor-s range of action and offer alternative activities integrated with the main site. The cultural places and appropriate activities can be identified using a method of analysis and design able to trace the identity of the places, their characteristics and potential, and to provide a sustainable improvement. The aim of this work is to propose PlaceMaker as a method of urban analysis and design which both detects elements that do not feature in traditional mapping and which constitute the contemporary identity of the places, and identifies appropriate project interventions. Two final complex maps – the first of analysis and the second of design – respectively represent the identity of places and project interventions. In order to illustrate the method-s potential; the results of the experimentation carried out in the Trevi-Pantheon route in Rome and the appropriate interventions to decongest the area are illustrated.

Keywords: Place-identity, PlaceMaker method, sustainablefruition, tourist attractions.

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Authors: Candice Moy, Damien Guirco, Thomas Boyle

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Intelligent technologies are increasingly facilitating sustainable water management strategies in Australia. While this innovation can present clear cost benefits to utilities through immediate leak detection and deference of capital costs, the impact of this technology on households is less distinct. By offering real-time engagement and detailed end-use consumption breakdowns, there is significant potential for demand reduction as a behavioural response to increased information. Despite this potential, passive implementation without well-planned residential engagement strategies is likely to result in a lost opportunity. This paper begins this research process by exploring the effect of smart water meters through the lens of three behaviour change theories. The Theory of Planned Behaviour (TPB), Belief Revision theory (BR) and Practice Theory emphasise different variables that can potentially influence and predict household water engagements. In acknowledging the strengths of each theory, the nuances and complexity of household water engagement can be recognised which can contribute to effective planning for residential smart meter engagement strategies.

Keywords: Behaviour, information, household, smart meters, water.

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Authors: Gianluigi De Mare, Tony Leopoldo Luigi Lenza, Rino Conte

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The evolution of technology and construction techniques has enabled the upgrading of transport networks. In particular, the high-speed rail networks allow convoys to peak at above 300 km/h. These structures, however, often significantly impact the surrounding environment. Among the effects of greater importance are the ones provoked by the soundwave connected to train transit. The wave propagation affects the quality of life in areas surrounding the tracks, often for several hundred metres. There are substantial damages to properties (buildings and land), in terms of market depreciation. The present study, integrating expertise in acoustics, computering and evaluation fields, outlines a useful model to select project paths so as to minimize the noise impact and reduce the causes of possible litigation. It also facilitates the rational selection of initiatives to contain the environmental damage to the already existing railway tracks. The research is developed with reference to the Italian regulatory framework (usually more stringent than European and international standards) and refers to a case study concerning the high speed network in Italy.

Keywords: Impact, compensation for financial loss, depreciation of property, railway network design, genetic algorithms.

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Authors: Prasansha Kumari

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This paper intends to identify and analyze customer adoption and attitudes towards mobile banking facilities. The study uses six perceived characteristics of innovation that can be used to form a favorable or unfavorable attitude toward an innovation, namely: Relative advantage, compatibility, complexity, trailability, risk, and observability. Collected data were analyzed using Pearson Chi-Square test. The results showed that mobile bank users were predominantly males. There is a growing trend among young, educated customers towards converting to mobile banking in Sri Lanka. The research outcomes suggested that all the six factors are statistically highly significant in influencing mobile banking adoption and attitude formation towards mobile banking in Sri Lanka. The major reasons for adopting mobile banking services are the accessibility and availability of services regardless of time and place. Over the 75 percent of the respondents mentioned that savings in time and effort and low financial costs of conducting mobile banking were advantageous. Issue of security was found to be the most important factor that motivated consumer adoption and attitude formation towards mobile banking. Main barriers to mobile banking were the lack of technological skills, the traditional cash‐carry banking culture, and the lack of awareness and insufficient guidance to using mobile banking.

Keywords: Compatibility, complexity, mobile banking, risk.

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Authors: Nadira Kaimova

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In this paper it was examined the influence of margin regulation on stock market volatility in EU 1993 – 2014. Regulating margin requirements or haircuts for securities financing transactions has for a long time been considered as a potential tool to limit the build-up of leverage and dampen volatility in financial markets. The margin requirement dictates how much investors can borrow against these securities. Margin can be an important part of investment. Using daily and monthly stock returns and there is no convincing evidence that EU Regulation margin requirements have served to dampen stock market volatility. In this paper was detected the expected negative relation between margin requirements and the amount of margin credit outstanding. Also, it confirmed that changes in margin requirements by the EU regulation have tended to follow than lead changes in market volatility. For the analysis have been used the modified Levene statistics to test whether the standard deviation of stock returns in the 25, 50 and 100 days preceding margin changes is the same as that in the succeeding 25, 50 and 100 days. The analysis started in May 1993 when it was first empowered to set the initial margin requirement and the last sample was in May 2014. To test whether margin requirements influence stock market volatility over the long term, the sample of stock returns was divided into 14 periods, according to the 14 changes in margin requirements.

Keywords: Levene statistic, Margin Regulation, Stock Market, Volatility.

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Authors: Reza Mokhtari Malekabadi, Leila Jalalabadi, Zahra Kiyani Ghaleh No

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Today, systems of management and urban planning, attempt to reach more sustainable development through monitoring developments, urban development and development plans. Monitoring of changes in the urban places and sustainable urban development accounted a base for the realization of worthy goals urban sustainable development. The importance of women in environmental protection programs is high enough that in 21 agenda has been requested from all countries to allocate more shares to women in their policies. On the other hand, urban waste landfill has become one of the environmental concerns in modern cities. This research assumes that the impact of women on recycling, reduction and proper waste landfill is much more than men. For this reason, three districts; Yousef Abad, Heshmatieh & Nezam Abad are gauged through questionnaire and using the analytical research hypothesis model. This research will be categorized as functional research. The results have shown that noticing the power of women, their participation towards realization of the development objectives and programs can be used in solving their problems.

Keywords: Citizens (Urban), Environmental, Sustainability, Solid waste, Tehran.

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Authors: M. Osmani, A. O'Reilly

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Housebuilders in England have been the target of numerous government policies in recent years promoting increased productivity and affordability. As a result, the housebuilding industry is currently faced with objectives to improve the affordability and sustainability of new homes whilst also increasing production rates to 240,000 per year by 2016.Yet amidst a faltering economic climate, the UK Government is forging ahead with the 'Code for Sustainable Homes', which includes stringent sustainable standards for all new homes and sets ambitious targets for the housebuilding industry, the culmination of which is the production of zero carbon homes by 2016.Great uncertainty exists amongst housebuilders as to the costs, benefits and risks of building zero carbon homes. This paper examines the key barriers to zero carbon homes from housebuilders- perspective. A comprehensive opinion on the challenges to deliver zero carbon homes is gathered through a questionnaire survey issued to the major housing developers in England. The study found that a number of cultural, legislative, and financial barriers stand in the way of the widespread construction of zero carbon homes. The study concludes with several recommendations to both the Government and the housebuilding industry to address the barriers that hinder a successful delivery of zero carbon homes in England.

Keywords: Zero carbon homes, Code for Sustainable Homes, housebuilders, England

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Authors: Siriporn Poolsuwan, Kanyarat Bussaban

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This research aims to investigate and analyze user’s behaviour towards the utilization of the online news clipping database at Suan Sunandha Rajabhat University, Thailand. Data is gathered from 214 lecturers and 380 undergraduate students by using questionnaires. Findings show that most users knew the online news clipping service from their friends, library’s website and their teachers. The users learned how to use it by themselves and others learned by training of SSRU library. Most users used the online news clipping database one time per month at home and always used the service for general knowledge, up-to-date academic knowledge and assignment reference. Moreover, the results of using the online news clipping service problems include the users themselves, service management, service device- computer and tools – and the network, service provider, and publicity. This research would be benefit for librarians and teachers for planning and designing library services in their works and organization

Keywords: Online Database, User Behaviour.

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Authors: Azadeh Maroufmashat, Sourena Sattari Khavas, Halle Bakhteeyar

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Multi-energy systems will enhance the system reliability and power quality. This paper presents an integrated approach for the design and operation of distributed energy resources (DER) systems, based on energy hub modeling. A multi-objective optimization model is developed by considering an integrated view of electricity and natural gas network to analyze the optimal design and operating condition of DER systems, by considering two conflicting objectives, namely, minimization of total cost and the minimization of environmental impact which is assessed in terms of CO2 emissions. The mathematical model considers energy demands of the site, local climate data, and utility tariff structure, as well as technical and financial characteristics of the candidate DER technologies. To provide energy demands, energy systems including photovoltaic, and co-generation systems, boiler, central power grid are considered. As an illustrative example, a hotel in Iran demonstrates potential applications of the proposed method. The results prove that increasing the satisfaction degree of environmental objective leads to increased total cost.

Keywords: Multi objective optimization, DER systems, Energy hub, Cost, CO2 emission.

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Authors: Jiří Barta, Oldřich Svoboda, Jiří. F. Urbánek

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In this paper will be discussed two coin´s sides of crisis scenarios dynamics. On the one's side is negative role of subsidiary scenario branches in its compactness weakening by means unduly chaotic atomizing, having many interactive feedbacks cases, increasing a value of a complexity here. This negative role reflects the complexity of use cases, weakening leader compliancy, which brings something as a ´readiness for controlling capabilities provision´. Leader´s dissatisfaction has zero compliancy, but factual it is a ´crossbar´ (interface in fact) between planning and executing use cases. On the other side of this coin, an advantage of rich scenarios embranchment is possible to see in a support of response awareness, readiness, preparedness, adaptability, creativity and flexibility. Here rich scenarios embranchment contributes to the steadiness and resistance of scenario mission actors. These all will be presented in live power-points ´Blazons´, modelled via DYVELOP (Dynamic Vector Logistics of Processes) on the Conference.

Keywords: Leadership, Controlling, Complexity, DYVELOP, Scenarios.

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Authors: Rukaiya Suleiman Umar, Annah Kwadu Medugu

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Moringa oleifera is mainly used as herbal medicine in most homes in Northern Nigeria. The plant is easy to grow and thrives very well regardless the type of soil. Use of moringa leaves in food production can yield attractive varieties on menu. This paper evaluates the acceptability of dishes produced with fresh moringa leaves with a view to promoting it in popular restaurants. A three course menu consisting of cream of moringa soup as the starter, mixed meat moringa sauce with semovita as the main dish and moringa roll as sweet was produced and served to a 60-member taste panel made of three groups of 20 each. Respondents were asked to rate the organoleptic qualities of the samples on a 10-point bipolar scale ranging from 1 (Dislike extremely) – 10 (Like extremely). Data collected were treated to one sample t-test and One Way ANOVA. Results show that the panelists extremely like the moringa products. It is recommended that Moringa oleifera should be incorporated into meals which is more readily acceptable than medicine.

Keywords: Moringa oleifera, food production, menu planning, healthy living.

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Authors: Yi-Hsin Lin, Ying-Ying Li

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The construction industry is the pillar industry in China, accounting for about 6% of the gross domestic product. Along with changes in the external environment of the construction industry in China, the construction firm faces fierce competition. The paper aims to investigate the relationship between diversified types of construction firm and its performance in China. Based on generalist and specialist strategy in organizational ecology, we think a generalist organization can be applied to an enterprise with diversified developments, while specialist groups are extended to professional enterprises .This study takes advantage of annual financial data of listed construction firm to empirically verify the relationship between diversification and corporation performance establishing a regression equation to econometric analysis. We find that: 1) Specialization can significantly improve the level of profitability of listed construction firms, and there is a significant positive relationship with corporate performance; 2) The level of operating performance of listed construction enterprises which engage in unrelated diversification is higher than those with related diversification; 3) The relationship between state-owned construction firms and corporate performance is negative. The more the year of foundation is, the higher performance will be; however, the more the year of being listed, the lower performance will be.

Keywords: Diversification, Specialization, Construction Firm, Performance.

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Authors: Indre Brazauskaite, Vilte Auruskeviciene

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The paper explores the Stage-Gate framework application for innovation maturity among small and medium-sized enterprises (SMEs). Innovation management becomes an essential business survival process for all sizes of organizations that can be evaluated and audited systemically. This research systemically defines and assesses the innovation process from the perspective of the company’s top management. Empirical research explores attitudes and existing practices of innovation management in SMEs in Baltic countries. It structurally investigates the current innovation management practices, level of standardization, and potential challenges in the area. Findings allow to structure of existing practices based on an institutionalized model and contribute to a more advanced understanding of the innovation process among SMEs. Practically, findings contribute to advanced decision-making and business planning in the process.

Keywords: innovation measure, innovation process, small and medium-sized enterprises, SMEs, stage-gate framework.

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Authors: Mohamed A. Tantawy, Nourelhoda A. Hussein, Moataz A. Mahrous

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New planning and city design theories are continuously debated and optimized for seeking efficiency and adequacy in economic and life quality aspects. Here, we examine the children-city relationship, to reflect on how modern and traditional cities affect the social climate. We adopt children as a proper caliber for urbanism, as for their very young age, they are independent and attached to family. Their fragility offers a chance to gauge how various urban settings directly affect their feeling of safety, containment, and their perception of belonging for home territory. The importance of street play for the child development process is discussed thoroughly. The authority they have on their play (when and what to play) pushes us to our conclusion. A mediocre built environment characterized by spontaneity and human-scale semi-private urban spaces, is irreplaceable by a perfectly designed far away playgrounds. Street play has a huge role in empowering children for a gradual engagement with grown-ups’ urban flow.

Keywords: Child's psychology, social activity, street play, urban fabric.

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Authors: Zulhamsyah Imran, Masahiro Yamao

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Social resilience has role to govern the local community and coastal fisheries resources toward sustainable fisheries development in tsunami affected area. This paper asses, explore and investigates of indigenous institutions, external and internal facilitators toward strengthening social resilience. Identification of the genuine organizations role had been conducted twice by using Rapid Assessment Appraisal, Focus Group Discussion, and in-depth interview for collecting primary and secondary data. Local wisdom had a contribution and adaptable to rebound social resilience. The Panglima Laot Lhok (sea commander) had determined and adapted role on recovery of the fishing community, particularly facilitated aid delivery to fishermen, as shown in anchovy fisheries relief case in Krueng Raya Bay. Toke Bangku (financial trader) had stimulated for reinforcement of advance payment and market channel. The other institutions supported upon linking and bridging connectivity among stakeholders. Collaborative governance can avoid conflict, reduce donor dependency and strengthen social resilience within fishing community.

Keywords: Fishing community, indigenous institution, adaptive role, collaborative, social resilience.

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Authors: Anchana Sooksomchitra

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This study aims to explore and compare the current condition of community radio stations in Phutthamonthon district, Nakhon Pathom province, Thailand, as well as the challenges they are facing. Qualitative research tools including in-depth interviews; documentary analysis; focus group interviews; and observation, are used to examine the content, programming, and management structure of three community radio stations currently in operation within the district. Research findings indicate that the management and operational approaches adopted by the two non-profit stations included in the study, Salaya Pattana and Voice of Dhamma, are more structured and effective than that of the for-profit Tune Radio. Salaya Pattana – backed by the Faculty of Engineering, Mahidol University, and the charity-funded Voice of Dhamma, are comparatively free from political and commercial influence, and able to provide more relevant and consistent community-oriented content to meet the real demand of the audience. Tune Radio, on the other hand, has to rely solely on financial support from political factions and business groups, which heavily influence its content.

Keywords: Radio broadcasting, programming, management, community radio, Thailand.

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Authors: Vuk M. Popovic, Dunja D. Popovic

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Software maintenance phase is started once a software project has been developed and delivered. After that, any modification to it corresponds to maintenance. Software maintenance involves modifications to keep a software project usable in a changed or a changing environment, to correct discovered faults, and modifications, and to improve performance or maintainability. Software maintenance and management of software maintenance are recognized as two most important and most expensive processes in a life of a software product. This research is basing the prediction of maintenance, on risks and time evaluation, and using them as data sets for working with neural networks. The aim of this paper is to provide support to project maintenance managers. They will be able to pass the issues planned for the next software-service-patch to the experts, for risk and working time evaluation, and afterward to put all data to neural networks in order to get software maintenance prediction. This process will lead to the more accurate prediction of the working hours needed for the software-service-patch, which will eventually lead to better planning of budget for the software maintenance projects.

Keywords: Laboratory information system, maintenance engineering, neural networks, software maintenance, software maintenance costs.

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Authors: Akiko Kondo, Akio Kondo

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We are facing regional problems to low birth rate and longevity in Japan. Under this situation, there are some local municipalities which lose their vitality. The aims of this study are to clarify the present state of local public transportation services in local municipalities and relation between local public transportation services and population quantitatively. We conducted a questionnaire survey concerning regional agenda in all local municipalities in Japan. We obtained responses concerning the present state of convenience in use of public transportation and local public transportation services. Based on the data gathered from the survey, it is apparent that we should some sort of measures concerning public transportation services. Convenience in use of public transportation becomes an object of public concern in many rural regions. It is also clarified that some local municipalities introduce a demand bus for the purpose of promotion of administrative and financial efficiency. They also introduce a demand taxi in order to secure transportation to weak people in transportation and eliminate of blank area related to public transportation services. In addition, we construct a population model which includes explanatory variables of present states of local public transportation services. From this result, we can clarify the relation between public transportation services and population quantitatively.

Keywords: Public transportation, local municipality, regional analysis, regional issue.

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Authors: George Yungchih Wang

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For decades financial economists have been attempted to determine the optimal investment policy by recognizing the option value embedded in irreversible investment whose project value evolves as a geometric Brownian motion (GBM). This paper aims to examine the effects of the optimal investment trigger and of the misspecification of stochastic processes on investment in real options applications. Specifically, the former explores the consequence of adopting optimal investment rules on the distributions of corporate value under the correct assumption of stochastic process while the latter analyzes the influence on the distributions of corporate value as a result of the misspecification of stochastic processes, i.e., mistaking an alternative process as a GBM. It is found that adopting the correct optimal investment policy may increase corporate value by shifting the value distribution rightward, and the misspecification effect may decrease corporate value by shifting the value distribution leftward. The adoption of the optimal investment trigger has a major impact on investment to such an extent that the downside risk of investment is truncated at the project value of zero, thereby moving the value distributions rightward. The analytical framework is also extended to situations where collection lags are in place, and the result indicates that collection lags reduce the effects of investment trigger and misspecification on investment in an opposite way.

Keywords: GBM, real options, investment trigger, misspecification, collection lags

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Authors: F. Guspi, E. García

Abstract:

This exploratory study gives an overview of the evolution of the main financial and performance indicators of the Academic Spin-Off’s and High Growth Academic Spin-Off’s in year 3 and year 6 after its creation in the region of Catalonia in Spain. The study compares and evaluates results of these different measures of performance and the degree of success of these companies for each University. We found that the average Catalonian Academic Spin-Off is small and have not achieved the sustainability stage at year 6. On the contrary, a small group of High Growth Academic Spin-Off’s exhibits robust performance with high profits in year 6. Our results support the need to increase selectivity and support for these companies especially near year 3, because are the ones that will bring wealth and employment. University role as an investor has rigid norms and habits that impede an efficient economic return from their ASO investment. Universities with high performance on sales and employment in year 3 not always could sustain this growth in year 6 because their ASO’s are not profitable. On the contrary, profitable ASO exhibit superior performance in all measurement indicators in year 6. We advocate the need of a balanced growth (with profits) as a way to obtain subsequent continuous growth.

Keywords: Academic Spin-Off (ASO), University Entrepreneurship, Entrepreneurial University, high growth, New Technology Based Companies (NTBC), University Spin-Off.

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