Search results for: Stock Market Decisions

Authors: A. Hortacsu, A. Tektas

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This paper aims to develop a model that assists the international retailer in selecting the country that maximizes the degree of fit between the retailer-s goals and the country characteristics in his initial internationalization move. A two-stage multi criteria decision model is designed integrating the Analytic Hierarchy Process (AHP) and Goal Programming. Ethical, cultural, geographic and economic proximity are identified as the relevant constructs of the internationalization decision. The constructs are further structured into sub-factors within analytic hierarchy. The model helps the retailer to integrate, rank and weigh a number of hard and soft factors and prioritize the countries accordingly. The model has been implemented on a Turkish luxury goods retailer who was planning to internationalize. Actual entry of the specific retailer in the selected country is a support for the model. Implementation on a single retailer limits the generalizability of the results; however, the emphasis of the paper is on construct identification and model development. The paper enriches the existing literature by proposing a hybrid multi objective decision model which introduces new soft dimensions i.e. perceived distance, ethical proximity, humane orientation to the decision process and facilitates effective decision making.

Keywords: Analytic hierarchy process, culture, ethics, goal programming, retail foreign market selection.

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Authors: Dmitry K. Shaytan, Georgy D. Laptev

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In our research we aimed to test a managerial approach for the fuzzy front end (FFE) of innovation by creating controlled experiment/ business case in a breakthrough innovation development. The experiment was in the sport industry and covered all aspects of the customer discovery stage from ideation to prototyping followed by patent application. In the paper we describe and analyze mile stones, tasks, management challenges, decisions made to create the break through innovation, evaluate overall managerial efficiency that was at the considered FFE stage. We set managerial outcome of the FFE stage as a valid product concept in hand. In our paper we introduce hypothetical construct “Q-factor” that helps us in the experiment to distinguish quality of FFE outcomes. The experiment simulated for entrepreneur the FFE of innovation and put on his shoulders responsibility for the outcome of valid product concept. While developing managerial approach to reach the outcome there was a decision to look on product concept from the cognitive psychology and cognitive science point of view. This view helped us to develop the profile of a person whose projection (mental representation) of a new product could optimize for a manager or entrepreneur FFE activities. In the experiment this profile was tested to develop breakthrough innovation for swimmers. Following the managerial approach the product concept was created to help swimmers to feel/sense water. The working prototype was developed to estimate the product concept validity and value added effect for customers. Based on feedback from coachers and swimmers there were strong positive effect that gave high value for customers, and for the experiment – the valid product concept being developed by proposed managerial approach for the FFE. In conclusions there is a suggestion of managerial approach that was derived from experiment.

Keywords: Concept development, concept testing, customer discovery, entrepreneurship, entrepreneurial management, idea generation, idea screening, startup management.

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Authors: Panupong Chanplin, Kathaleeya Chanda., Wilailuk Mepracha

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The aims of this research were twofold: 1) to brand identity design of Creative Agriculture Community Enterprise, Bang Khonthi District, Samut Songkhram Province and 2) to study the level of tourist satisfaction towards brand identity design of Creative Agriculture Community Enterprise, Bang Khonthi District, Samut Songkhram Province. tourist satisfaction was measured using six criteria: clear brand positioning, likeable brand personality, memorable logo, attractive color palette, professional typography and on-brand supporting graphics. The researcher utilized a probability sampling method via simple random sampling. The sample consisted of 30 tourists in the Creative Agriculture Community Enterprise. Statistics utilized for data analysis were percentage, mean, and standard deviation. The results suggest that tourist had high levels of satisfaction towards all six criteria of the brand identity design that was designed to target them. This study proposes that specifically brand identity designed of Creative Agriculture Community Enterprise could also be implemented with other real media already available on the market.

Keywords: Satisfaction, brand identity, logo, creative agriculture community enterprise.

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Authors: Habibollah Najafi, Amir Abbas Yazdani, Hosseinali Nahavandi

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The review performed on the condition of energy consumption & rate in Iran, shows that unfortunately the subject of optimization and conservation of energy in active industries of country lacks a practical & effective method and in most factories, the energy consumption and rate is more than in similar industries of industrial countries. The increasing demand of electrical energy and the overheads which it imposes on the organization, forces companies to search for suitable approaches to optimize energy consumption and demand management. Application of value engineering techniques is among these approaches. Value engineering is considered a powerful tool for improving profitability. These tools are used for reduction of expenses, increasing profits, quality improvement, increasing market share, performing works in shorter durations, more efficient utilization of sources & etc. In this article, we shall review the subject of value engineering and its capabilities for creating effective transformations in industrial organizations, in order to reduce energy costs & the results have been investigated and described during a case study in Mazandaran wood and paper industries, the biggest consumer of energy in north of Iran, for the purpose of presenting the effects of performed tasks in optimization of energy consumption by utilizing value engineering techniques in one case study.

Keywords: Value Engineering (VE), Expense, Energy, Industrial

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Authors: Abubakar Idris, Nabade Abdullahi Muhammad

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The work presents a development of EN338 strength classes for Strombosia pustulata, Pterygotama crocarpa, Nauclea diderrichii and Entandrophragma cyclindricum Nigerian timber species. The specimens for experimental measurements were obtained from the timber-shed at the famous Panteka market in Kaduna in the northern part of Nigeria. Laboratory experiments were conducted to determine the physical and mechanical properties of the selected timber species in accordance with EN 13183-1 and ASTM D193. The mechanical properties were determined using three point bending test. The generated properties were used to obtain the characteristic values of the material properties in accordance with EN384. The selected timber species were then classified according to EN 338. Strombosia pustulata, Pterygotama crocarpa, Nauclea diderrichii and Entandrophragma cyclindricum were assigned to strength classes D40, C14, D40 and D24 respectively. Other properties such as tensile and compressive strengths parallel and perpendicular to grains, shear strength as well as shear modulus were obtained in accordance with EN 338. 

Keywords: Mechanical properties, Nigerian timber, strength classes, three-point bending test.

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Authors: Ph. Fauquet-Alekhine

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Decision-making occurs several times an hour when working in high risk industry and an erroneous choice might have undesirable outcomes for people and the environment surrounding the industrial plant. Industrial decisions are very often made in a context of acute stress. Time pressure is a crucial stressor leading decision makers sometimes to boost up the decision-making process and if it is not possible then shift to the simplest strategy. We thus found it interesting to update the characterization of the stress factors impairing decision-making at Chinon Nuclear Power Plant (France) in order to optimize decision making contexts and/or associated processes. The investigation was based on the analysis of reports addressing safety events over the last 3 years. Among 93 reports, those explicitly addressing decision-making issues were identified. Characterization of each event was undertaken in terms of three criteria: stressors, biases impairing decision making and weaknesses of the decision-making process. The statistical analysis showed that biases were distributed over 10 possibilities among which the hypothesis confirmation bias was clearly salient. No significant correlation was found between criteria. The analysis indicated that the main stressor was time pressure and highlights an unexpected form of stressor: the trust asymmetry principle of the expert. The analysis led to the conclusion that this stressor impaired decision-making from a psychological angle rather than from a physiological angle: it induces defensive bias of self-esteem, self-protection associated with a bias of confirmation. This leads to the hypothesis that this stressor can intervene in some cases without being detected, and to the hypothesis that other stressors of the same kind might occur without being detected too. Further investigations addressing these hypotheses are considered. The analysis also led to the conclusion that dealing with these issues implied i) decision-making methods being well known to the workers and automated and ii) the decision-making tools being well known and strictly applied. Training was thus adjusted.

Keywords: Bias, expert, high risk industry, stress.

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Authors: Julinda Keçi

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In many countries, governments have been promoting the involvement of private sector entities to enter into long-term agreements for the development and delivery of large infrastructure projects, with a focus on overcoming the limitations upon public fund of the traditional approach. The involvement of private sector through public private partnerships (PPP) brings in new capital investments, value for money and additional risks to handle. Worldwide research studies have shown that an objective, systematic, reliable and useroriented risk assessment process and an optimal allocation mechanism among different stakeholders is crucial to the successful completion. In this framework, this paper, which is the first stage of a research study, aims to identify the main risks for the delivery of PPP projects. A review of cross-countries research projects and case studies was performed to map the key risks affecting PPP infrastructure delivery. The matrix of mapping offers a summary of the frequency of factors, clustered in eleven categories: construction, design, economic, legal, market, natural, operation, political, project finance, project selection and relationship. Results will highlight the most critical risk factors, and will hopefully assist the project managers in directing the managerial attention in the further stages of risk allocation.

Keywords: Construction, infrastructure, public private partnerships, risks.

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Authors: Nazim Uddin, Yohiko Nakaura, Kazutaka Yamamoto

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Compote (fruit in syrup) of pineapple (Ananas comosus L. Merrill) is expected to have a high market potential as one of convenient ready-to-eat (RTE) foods worldwide. High hydrostatic pressure (HHP) in combination with low temperature (LT) was applied to the processing of pineapple compote as well as medium HHP (MHHP) in combination with medium-high temperature (MHT) since both processes can enhance liquid impregnation and inactivate microbes. MHHP+MHT (55 or 65 °C) process, as well as the HHP+LT process, has successfully inactivated the microbes in the compote to a non-detectable level. Although the compotes processed by MHHP+MHT or HHP+LT have lost the fresh texture as in a similar manner as those processed solely by heat, it was indicated that the texture degradations by heat were suppressed under MHHP. Degassing process reduced the hardness, while calcium (Ca) contributed to be retained hardness in MHT and MHHP+MHT processes. Electrical impedance measurement supported the damage due to degassing and heat. The color, Brix, and appearance were not affected by the processing methods significantly. MHHP+MHT and HHP+LT processes may be applicable to produce high-quality, safe RTE pineapple compotes. Further studies on the optimization of packaging and storage condition will be indispensable for commercialization.

Keywords: Compote of pineapple, ready-to-eat, medium high hydrostatic pressure, postharvest loss, and texture.

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Authors: Satu Lautamäki

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This paper presents findings from a multidisciplinary course (bachelor level) implemented at Seinäjoki University of Applied Sciences, Finland. The course aims to develop innovative thinking of students, by having projects given by companies, using design thinking methods as a tool for creativity and by integrating students into multidisciplinary teams working on the given projects. The course is obligatory for all first year bachelor students across four faculties (business and culture, food and agriculture, health care and social work, and technology). The course involves around 800 students and 30 pedagogical coaches, and it is implemented as an intensive one-week course each year. The paper discusses the pedagogy, structure and coordination of the course. Also, reflections on methods for the development of creative skills are given. Experts in contemporary, global context often work in teams, which consist of people who have different areas of expertise and represent various professional backgrounds. That is why there is a strong need for new training methods where multidisciplinary approach is at the heart of learning. Creative learning takes place when different parties bring information to the discussion and learn from each other. When students in different fields are looking for professional growth for themselves and take responsibility for the professional growth of other learners, they form a mutual learning relationship with each other. Multidisciplinary team members make decisions both individually and collectively, which helps them to understand and appreciate other disciplines. Our results show that creative and multidisciplinary project learning can develop diversity of knowledge and competences, for instance, students’ cultural knowledge, teamwork and innovation competences, time management and presentation skills as well as support a student’s personal development as an expert. It is highly recommended that higher education curricula should include various studies for students from different study fields to work in multidisciplinary teams.

Keywords: Multidisciplinary learning, creative skills, innovative thinking, project-based learning.

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Authors: A. Elbaz, K. Spang

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Infrastructure projects are often subjected to delays and cost overruns and mistakenly described as unsuccessful projects. These projects have many peculiarities such as public attention, impact on the environment, subjected to special regulations, etc. They also deal with several stakeholders with different motivations and face unique risks. With this in mind we need to reconsider our approach to manage them, define their success factors and implement these success factors. Infrastructure projects are not only lacking a unified meaning of project success or a definition of success factors, but also a clear method to implement these factors. This paper investigates this gap and introduces a concept to implement success factors in an efficient way, taking into consideration the specific characteristics of infrastructure projects. This concept consists of six enablers such as project organization, project team, project management workflow, contract management, communication and knowledge transfer and project documentations. These enablers allow other success factors to be efficiently implemented in projects. In conclusion, this paper provides project managers as well as company managers with a tool to define and implement success factors efficiently in their projects, along with upgrading their assets for the coming projects. This tool consists of processes and validated checklists to ensure the best use of company resources and knowledge. Due to the special features of infrastructure projects this tool will be tested in the German infrastructure market. However, it is meant to be adaptable to other markets and industries.

Keywords: Infrastructure projects, enablers, project success, success factors, transportation projects.

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Authors: Guenther Schuh, Christina Koenig, Nico Schoen, Markus Wellensiek

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Identification and selection of appropriate product and manufacturing technologies are key factors for competitiveness and market success of technology-based companies. Therefore, many companies perform technology intelligence (TI) activities to ensure the identification of evolving technologies at the right time. Technology monitoring is one of the three base activities of TI, besides scanning and scouting. As the technological progress is accelerating, more and more technologies are being developed. Against the background of limited resources it is therefore necessary to focus TI activities. In this paper we propose a concept for defining appropriate search fields for technology monitoring. This limitation of search space leads to more concentrated monitoring activities. The concept will be introduced and demonstrated through an anonymized case study conducted within an industry project at the Fraunhofer Institute for Production Technology IPT. The described concept provides a customized monitoring approach, which is suitable for use in technology-oriented companies. It is shown in this paper that the definition of search fields and search tasks are suitable methods to define topics of interest and thus to align monitoring activities. Current as well as planned product, production and material technologies and existing skills, capabilities and resources form the basis for derivation of relevant search areas. To further improve the concept of technology monitoring the proposed concept should be extended during future research e.g. by the definition of relevant monitoring parameters.

Keywords: Monitoring radar, search field, technology intelligence, technology monitoring.

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Authors: J. X. Dong, C. J. An, Z. Chen, E. H. Owens, M. C. Boufadel, E. Taylor, K. Lee

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Shorelines are vulnerable to significant environmental impacts from oil spills. Stranded oil can cause potential short- to long-term detrimental effects along beaches that include injuries to ecosystem, socio-economic and cultural resources. In this study, a three-dimensional (3D) numerical modeling approach is developed to evaluate the fate and transport of spilled oil for hypothetical oiled shoreline cases under various combinations of beach geomorphology and environmental conditions. The developed model estimates the spatial and temporal distribution of spilled oil for the various test conditions, using the finite volume method and considering the physical transport (dispersion and advection), sinks, and sorption processes. The model includes a user-friendly interface for data input on variables such as beach properties, environmental conditions, and physical-chemical properties of spilled oil. An experimental meso-scale tank design was used to test the developed model for dissolved petroleum hydrocarbon within shorelines. The simulated results for effects of different sediment substrates, oil types, and shoreline features for the transport of spilled oil are comparable to that obtained with a commercially available model. Results show that the properties of substrates and the oil removal by shoreline effects have significant impacts on oil transport in the beach area. Sensitivity analysis, through the application of the one-step-at-a-time method (OAT), for the 3D model identified hydraulic conductivity as the most sensitive parameter. The 3D numerical model allows users to examine the behavior of oil on and within beaches, assess potential environmental impacts, and provide technical support for decisions related to shoreline clean-up operations.

Keywords: dissolved petroleum hydrocarbons, environmental multimedia model, finite volume method, FVM, sensitivity analysis, total petroleum hydrocarbons, TPH

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Authors: Heeyeul Kwon, Yongtae Park

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Despite the highly touted benefits, emerging technologies have unleashed pervasive concerns regarding unintended and unforeseen social impacts. Thus, those wishing to create safe and socially acceptable products need to identify such side effects and mitigate them prior to the market proliferation. Various methodologies in the field of technology assessment (TA), namely Delphi, impact assessment, and scenario planning, have been widely incorporated in such a circumstance. However, literatures face a major limitation in terms of sole reliance on participatory workshop activities. They unfortunately missed out the availability of a massive untapped data source of futuristic information flooding through the Internet. This research thus seeks to gain insights into utilization of futuristic data, future-oriented documents from the Internet, as a supplementary method to generate social impact scenarios whilst capturing perspectives of experts from a wide variety of disciplines. To this end, network analysis is conducted based on the social keywords extracted from the futuristic documents by text mining, which is then used as a guide to produce a comprehensive set of detailed scenarios. Our proposed approach facilitates harmonized depictions of possible hazardous consequences of emerging technologies and thereby makes decision makers more aware of, and responsive to, broad qualitative uncertainties.

Keywords: Emerging technologies, futuristic data, scenario, text mining.

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Authors: Nikolaos Georgantzis, Efi Vasileiou

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We present results from experimental price-setting oligopolies in which green firms undertake different levels of energy-saving investments motivated by public subsidies and demand-side advantages. We find that consumers reveal higher willingness to pay for greener sellers’ products. This observation in conjunction to the fact that greener sellers set higher prices is compatible with the use and interpretation of energy-saving behaviour as a differentiation strategy. However, sellers do not exploit the resulting advantage through sufficiently high price-cost margins, because they seem trapped into “run to stay still” competition. Regarding the use of public subsidies to energy-saving sellers we uncover an undesirable crowding-out effect of consumers’ intrinsic tendency to support green manufacturers. Namely, consumers may be less willing to support a green seller whose energy-saving strategy entails a direct financial benefit. Finally, we disentangle two alternative motivations for consumer’s attractions to pro-social firms; first, the self-interested recognition of the firm’s contribution to the public and private welfare and, second, the need to compensate a firm for the cost entailed in each pro-social action. Our results show the prevalence of the former over the latter.

Keywords: Corporate social responsibility, energy savings, public good, experiments, vertical differentiation, altruism.

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Authors: Lo Kar Yin

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In view of the increasing speed and quantity of the housing supply, building, and civil engineering infrastructure works triggered by the pandemic across the globe, contractors, professional services providers (PSP), including consultants (e.g., architect, project manager, civil/geotechnical/structural engineer, building services engineer, quantity surveyor/cost manager, etc.) and suppliers have faced tremendous challenges of the fierce market, limited manpower, and resources under contract prices fluctuation and competitive fee and price. With qualitative analysis, this paper is to identify the available information from the industry stakeholders with a view to finding solutions for enhancing efficiency, safety, and quality of construction value chain services for public and private organisations/companies’ sustainable growth, not limited to checking the deliverables and data transfer from multi-disciplinary parties. Technology, contracts, and people are the key requirements for shaping the construction industry. With the integration of a modern engineering contract (e.g., NEC) collaborative approach, practical workflows are designed to address loopholes together with different levels of people employment/retention and technology adoption to achieve the best value for money.

Keywords: Sustainable Development, Sustainable solutions, contract, construction value chain, Building Information Modelling, BIM integration.

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Authors: Muhibul Haque Bhuyan, Md. Refat Sarder

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If a person can monitor his/her oxygen saturation level intermittently then he/she can identify his/her condition early and thus he/she can seek a doctor’s help. This paper reports the design, simulation, and implementation of a low-cost pulse oxygen saturation measurement device based on a reflective photoplethysmography (PPG) system using an integrated circuit sensor as the fundamental component of this health status checking device. The measurement of the physiological parameter is the blood oxygen saturation level (SpO₂) in the peripheral capillary. This work has been implemented using an Arduino Uno R3 microcontroller along with this sensor integrated circuit (IC). The system is designed in the Proteus environment and then simulated to check its performance. After that, the hardware implementation is performed. We used a clipping type optical sensor to sense the arterial oxygen saturation level of blood signal from the fingertips of an individual and then transformed it into the digital data in the microcontroller through its programming its instruction. The designed system was tested by measuring the SpO₂ level for several people of different ages, from 12 to 57 years of age. Besides, the same people were tested using a standard machine purchased from the market. Test results were found very satisfactory as the average percentage of error was very low, 1.59% only.

Keywords: Digital pulse oxygen saturation level, oximeter, measurement, design, simulation, implementation, proteus, Arduino Uno microcontroller.

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Authors: Jaimala Gambhir, Tilak Thakur, Puneet Chawla

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As per the statistical data, the Doubly-fed Induction Generator (DFIG) based wind turbine with variable speed and variable pitch control is the most common wind turbine in the growing wind market. This machine is usually used on the grid connected wind energy conversion system to satisfy grid code requirements such as grid stability, Fault Ride Through (FRT), power quality improvement, grid synchronization and power control etc. Though the requirements are not fulfilled directly by the machine, the control strategy is used in both the stator as well as rotor side along with power electronic converters to fulfil the requirements stated above. To satisfy the grid code requirements of wind turbine, usually grid side converter is playing a major role. So in order to improve the operation capacity of wind turbine under critical situation, the intensive study of both machine side converter control and grid side converter control is necessary In this paper DFIG is modeled using power components as variables and the performance of the DFIG system is analysed under grid voltage fluctuations. The voltage fluctuations are made by lowering and raising the voltage values in the utility grid intentionally for the purpose of simulation keeping in view of different grid disturbances.

Keywords: DFIG, dynamic modeling, DPC, sag, swell, voltage fluctuations, FRT.

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Authors: Bi-Huei Tsai

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Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightlydistressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the one-stage model has the lower misclassification error rate than the two-stage model. The one-stage model is more accurate than the two-stage model.

Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy.

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Authors: Melis Inalpulat, Levent Genc, Unal Kizil, Tugce Civelek

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Livestock production is one of the most important components of rural economy. Due to the urban expansion, rural areas close to expanding cities transform into urban districts during the time. However, the legislations have some restrictions related to livestock farming in such administrative units since they tend to create environmental concerns like odor problems resulted from excessive manure production. Therefore, the existing animal operations should be moved from the settlement areas. This paper was focused on determination of suitable lands for livestock production in Canakkale province of Turkey using remote sensing (RS) data and GIS techniques. To achieve the goal, Formosat 2 and Landsat 8 imageries, Aster DEM, and 1:25000 scaled soil maps, village boundaries, and village livestock inventory records were used. The study was conducted using suitability analysis which evaluates the land in terms of limitations and potentials, and suitability range was categorized as Suitable (S) and Non-Suitable (NS). Limitations included the distances from main and crossroads, water resources and settlements, while potentials were appropriate values for slope, land use capability and land use land cover status. Village-based S land distribution results were presented, and compared with livestock inventories. Results showed that approximately 44230 ha area is inappropriate because of the distance limitations for roads and etc. (NS). Moreover, according to LULC map, 71052 ha area consists of forests, olive and other orchards, and thus, may not be suitable for building such structures (NS). In comparison, it was found that there are a total of 1228 ha S lands within study area. The village-based findings indicated that, in some villages livestock production continues on NS areas. Finally, it was suggested that organized livestock zones may be constructed to serve in more than one village after the detailed analysis complemented considering also political decisions, opinion of the local people, etc.

Keywords: GIS, livestock, LULC, remote sensing, suitable lands.

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Authors: Iacopo Testi, Diego Pajarito, Nicoletta Roberto, Carmen Greco

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Today, a consistent segment of the world’s population lives in urban areas, and this proportion will vastly increase in the next decades. Therefore, understanding the key trends in urbanization, likely to unfold over the coming years, is crucial to the implementation of sustainable urban strategies. In parallel, the daily amount of digital data produced will be expanding at an exponential rate during the following years. The analysis of various types of data sets and its derived applications have incredible potential across different crucial sectors such as healthcare, housing, transportation, energy, and education. Nevertheless, in city development, architects and urban planners appear to rely mostly on traditional and analogical techniques of data collection. This paper investigates the prospective of the data science field, appearing to be a formidable resource to assist city managers in identifying strategies to enhance the social, economic, and environmental sustainability of our urban areas. The collection of different new layers of information would definitely enhance planners' capabilities to comprehend more in-depth urban phenomena such as gentrification, land use definition, mobility, or critical infrastructural issues. Specifically, the research results correlate economic, commercial, demographic, and housing data with the purpose of defining the youth economic discomfort index. The statistical composite index provides insights regarding the economic disadvantage of citizens aged between 18 years and 29 years, and results clearly display that central urban zones and more disadvantaged than peripheral ones. The experimental set up selected the city of Rome as the testing ground of the whole investigation. The methodology aims at applying statistical and spatial analysis to construct a composite index supporting informed data-driven decisions for urban planning.

Keywords: Data science, spatial analysis, composite index, Rome, urban planning, youth economic discomfort index.

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Authors: Sitalakshmi Venkatraman, Fiona Wahr, Anthony de Souza-Daw, Samuel Kaspi

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There is a growing emphasis on generic skills in higher education to match the changing skill-set requirements of the labour market. However, researchers and policy makers have not arrived at a consensus on the generic skills that actually contribute towards workplace employability and performance that complement and/or underpin discipline-specific graduate attributes. In order to strengthen the qualifications framework, a range of ‘generic’ learning outcomes have been considered for students undergoing higher education programs and among them it is necessary to have the fundamental generic skills such as literacy and numeracy at a level appropriate to the qualification type. This warrants for curriculum design approaches to contextualise the form and scope of these fundamental generic skills for supporting both students’ learning engagement in the course, as well as the graduate attributes required for employability and to progress within their chosen profession. Little research is reported in integrating such generic skills into discipline-specific learning outcomes. This paper explores the literature of the generic skills required for graduates from the discipline of Information Technology (IT) in relation to an Australian higher education institution. The paper presents the rationale of a proposed Bachelor of IT curriculum designed to contextualize the learning of these generic skills within the students’ discipline studies.

Keywords: Curriculum, employability, generic skills, graduate attributes, higher education, information technology.

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Authors: Vasiliki Vlachou, Christos Kontzinos, Ourania Markaki, Panagiotis Kokkinakos, Vagelis Karakolis, John Psarras

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Higher Education is resisting the pull of technology, especially as this concerns the issuance and verification of degrees and certificates. It is widely known that education certificates are largely produced in paper form making them vulnerable to damage while holders of such certificates are dependent on the universities and other issuing organisations. QualiChain is an EU Horizon 2020 (H2020) research project aiming to transform and revolutionise the domain of public education and its ties with the job market by leveraging blockchain, analytics and decision support to develop a platform for the verification and sharing of education certificates. Blockchain plays an integral part in the QualiChain solution in providing a trustworthy environment to store, share and manage such accreditations. Under the context of this paper, three prominent blockchain platforms (Ethereum, Hyperledger Fabric, Hyperledger Iroha) were considered as a means of experimentation for creating a system with the basic functionalities that will be needed for trustworthy degree verification. The methodology and respective system developed and presented in this paper used Hyperledger Iroha and proved that this specific platform can be used to easily develop decentralize applications. Future papers will attempt to further experiment with other blockchain platforms and assess which has the best potential.

Keywords: Blockchain, degree verification, higher education certificates, Hyperledger Iroha.

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Authors: Yeonjeong Lee, Kyoung-jae Kim, Youngtae Kim

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This study proposes a novel recommender system that uses data mining and multi-model ensemble techniques to enhance the recommendation performance through reflecting the precise user’s preference. The proposed model consists of two steps. In the first step, this study uses logistic regression, decision trees, and artificial neural networks to predict customers who have high likelihood to purchase products in each product group. Then, this study combines the results of each predictor using the multi-model ensemble techniques such as bagging and bumping. In the second step, this study uses the market basket analysis to extract association rules for co-purchased products. Finally, the system selects customers who have high likelihood to purchase products in each product group and recommends proper products from same or different product groups to them through above two steps. We test the usability of the proposed system by using prototype and real-world transaction and profile data. In addition, we survey about user satisfaction for the recommended product list from the proposed system and the randomly selected product lists. The results also show that the proposed system may be useful in real-world online shopping store.

Keywords: Product recommender system, Ensemble technique, Association rules, Decision tree, Artificial neural networks.

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Authors: Batin Latif Aylak, Bernd Noche

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Overhead conveyor systems are in use in many installations around the world, meeting the widest range of applications possible. Overhead conveyor systems are particularly preferred in automotive industry but also at post offices. Overhead conveyor systems must always be integrated with a logistical process by finding the best way for a cheaper material flow in order to guarantee precise and fast workflows. With their help, any transport can take place without wasting ground and space, without excessive company capacity, lost or damaged products, erroneous delivery, endless travels and without wasting time. Ultra-light overhead conveyor systems are rope-based conveying systems with individually driven vehicles. The vehicles can move automatically on the rope and this can be realized by energy and signals. Crossings are realized by switches. Ultra-light overhead conveyor systems provide optimal material flow, which produces profit and saves time. This article introduces two new ultra-light overhead conveyor designs in logistics and explains their components. According to the explanation of the components, scenarios are created by means of their technical characteristics. The scenarios are visualized with the help of CAD software. After that, assumptions are made for application area. According to these assumptions scenarios are visualized. These scenarios help logistics companies achieve lower development costs as well as quicker market maturity.

Keywords: Logistics, material flow, overhead conveyor.

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Authors: A. T. Asutosh, J. Woo, M. Kouhirostami, M. Sam, A. Khantawang, C. Cuales, W. Ryor, C. Kibert

Abstract:

Climate change and global warming vortex have grown to alarming proportions. Therefore, the need for a shift in the conceptualization of energy production is paramount. Energy practices have been created in the current situation. Fossil fuels continue their prominence, at the expense of renewable sources. Despite this abundance, a large percentage of the world population still has no access to electricity but there have been encouraging signs in global movement from nonrenewable to renewable energy but means to reverse climate change have been elusive. Worldwide, organizations have put tremendous effort into innovation. Conferences and exhibitions act as a platform that allows a broad exchange of information regarding trends in the renewable energy field. The Solar Power International (SPI) conference and exhibition is a gathering of concerned activists, and probably the largest convention of its kind. This study investigates current development in the renewable energy field, analyzing means by which industry is being applied to the issue. In reviewing the 2019 SPI conference, it was found innovations in recycling and assessing the environmental impacts of the solar products that need critical attention. There is a huge movement in the electrical storage but there exists a large gap in the development of security systems. This research will focus on solar energy, but impacts will be relevant to the entire renewable energy market.

Keywords: Climate change, renewable energy, solar, trends, research, SPI.

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Authors: J. Arneric, A. Rozga

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In this paper usefulness of quasi-Newton iteration procedure in parameters estimation of the conditional variance equation within BHHH algorithm is presented. Analytical solution of maximization of the likelihood function using first and second derivatives is too complex when the variance is time-varying. The advantage of BHHH algorithm in comparison to the other optimization algorithms is that requires no third derivatives with assured convergence. To simplify optimization procedure BHHH algorithm uses the approximation of the matrix of second derivatives according to information identity. However, parameters estimation in a/symmetric GARCH(1,1) model assuming normal distribution of returns is not that simple, i.e. it is difficult to solve it analytically. Maximum of the likelihood function can be founded by iteration procedure until no further increase can be found. Because the solutions of the numerical optimization are very sensitive to the initial values, GARCH(1,1) model starting parameters are defined. The number of iterations can be reduced using starting values close to the global maximum. Optimization procedure will be illustrated in framework of modeling volatility on daily basis of the most liquid stocks on Croatian capital market: Podravka stocks (food industry), Petrokemija stocks (fertilizer industry) and Ericsson Nikola Tesla stocks (information-s-communications industry).

Keywords: Heteroscedasticity, Log-likelihood Maximization, Quasi-Newton iteration procedure, Volatility.

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Authors: Alhaji M. H. Conteh, Xiangbin Yan, Alfred V. Gborie

Abstract:

The goal of this study was to increase the awareness of the description and assessments of rice acreage response and to offer mechanisms for agricultural policy scrutiny. The ordinary least square (OLS) technique was utilized to determine the coefficients of acreage response models for the rice varieties. The magnitudes of the coefficients (λ) of both the ROK lagged and NERICA lagged acreages were found positive and highly significant, which indicates that farmers’ adjustment rate was very low. Regarding lagged actual price for both the ROK and NERICE rice varieties, the short-run price elasticitieswere lower than long-run, which is suggesting a long term adjustment of the acreage under the crop.

However, the apparent recommendations for policy transformation are to open farm gate prices and to decrease government’s involvement in agricultural sector especially in the acquisition of agricultural inputs. Impending research have to be centered on how this might be better realized. Necessary conditions should be made available to the private sector by means of minimizing price volatility. In accordance with structural reforms, it is necessary to convey output prices to farmers with minimum distortion. There is need to eradicate price subsidies and control, which generate distortion in the market in addition to huge financial costs.

Keywords: Acreage response, rate of adjustment, rice varieties, Sierra Leone.

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Authors: Penn P. Wu, Jeannie Jo

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Blockchain technology has rapidly gained popularity in industry. This paper attempts to assist academia to answer four questions. First, should community colleges begin offering education to nurture blockchain-literate students for the job market? Second, what are the appropriate topical areas to cover? Third, should it be an individual course? And forth, should it be a technical or management course? This paper starts with identifying the knowledge domains of blockchain technology and the topical areas each domain has, and continues with placing them in appropriate academic territories (Computer Sciences vs. Business) and subjects (programming, management, marketing, and laws), and then develops an evaluation model to determine the appropriate topical area for community colleges to teach. The evaluation is based on seven factors: maturity of technology, impacts on management, real-world applications, subject classification, knowledge prerequisites, textbook readiness, and recommended pedagogies. The evaluation results point to an interesting direction that offering an introductory course is an ideal option to guide students through the learning journey of what blockchain is and how it applies to business. Such an introductory course does not need to engage students in the discussions of mathematics and sciences that make blockchain technologies possible. While it is inevitable to brief technical topics to help students build a solid knowledge foundation of blockchain technologies, community colleges should avoid offering students a course centered on the discussion of developing blockchain applications.

Keywords: Blockchain, pedagogies, blockchain technologies, blockchain course, blockchain pedagogies.

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Authors: Phichak Phutrakhul

Abstract:

The purposes of this research were to study concepts and strategies of human resource development in the automotive manufacturers and to articulate the proposals against the government about the human resource development for automotive industry. In the present study, qualitative study was an in-depth interview in which the qualitative data were collected from the executive or the executive of human resource division from five automotive companies - Toyota Motor (Thailand) Co., Ltd., Nissan Motor (Thailand) Co., Ltd., Mitsubishi Motors (Thailand) Co., Ltd., Honda Automobile (Thailand) Co., Ltd., and Suzuki Motor (Thailand) Co., Ltd. Qualitative data analysis was performed by using inter-coder agreement technique. The research findings were as follows: The external factors included the current conditions of the automotive industry, government’s policy related to the automotive industry, technology, labor market and human resource development systems of the country. The internal factors included management, productive management, organizational strategies, leadership, organizational culture and philosophy of human resource development. These factors were affected to the different concept of human resources development -the traditional human resource development and the strategies of human resource development. The organization focuses on human resources as intellectual capital and uses the strategies of human resource development in all development processes. The strategies of human resource development will enhance the ability of human resources in the organization and the country.

Keywords: Human Resource Development Strategy, Automotive industry, Eco-Cars, ASEAN.

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Authors: Petr Teply, Ondrej Vejdovec

Abstract:

There are three main ways of categorizing capital in banking operations: accounting, regulatory and economic capital. However, the 2008-2009 global crisis has shown that none of these categories adequately reflects the real risks of bank operations, especially in light of the failures Bear Stearns, Lehman Brothers or Northern Rock. This paper deals with the economic capital allocation of global banks. In theory, economic capital should reflect the real risks of a bank and should be publicly available. Yet, as discovered during the global financial crisis, even when economic capital information was publicly disclosed, the underlying assumptions rendered the information useless. Specifically, some global banks that reported relatively high levels of economic capital before the crisis went bankrupt or had to be bailed-out by their government. And, only 15 out of 50 global banks reported their economic capital during the 2007-2010 period. In this paper, we analyze the changes in reported bank economic capital disclosure during this period. We conclude that relative shares of credit and business risks increased in 2010 compared to 2007, while both operational and market risks decreased their shares on the total economic capital of top-rated global banks. Generally speaking, higher levels of disclosure and transparency of bank operations are required to obtain more confidence from stakeholders. Moreover, additional risks such as liquidity risks should be included in these disclosures.

Keywords: global crisis, economic capital, risk management, risk allocation, bank

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