Search results for: insurance companies.
613 The Urban Transportation Systems in Two Cities Located in the Rio de Janeiro State, Brazil
Authors: D. I. De Souza, G. P. Azevedo, R. Rocha
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The State of Rio de Janeiro, Brazil, will hold two important events in the nearby future. In 2014 it will have the final game of the Football World Cup, and in 2016 it will be holding the Olympic Games. Therefore, the public transportation system (mainly buses) is of a major concern to the Rio de Janeiro State authorities-. The main objective of this work is to compare the quality of service of the bus companies operating in the cities of ItaperunaandCampos, both cities situated in the state of Rio de Janeiro, Brazil. The outcome of thiscomparison, based on the opinion of the bus users, has shownthemdispleased with the quality of the service provided by the bus companies operating in both cities. It is urgent the need to find possible practical alternatives to minimize the consequences of the main problems detected in this work. With these practical alternatives available, we will be able to offer to the Rio de Janeiro State authorities- suggestions about possible solutions to the main problems identified in this survey, as well as the time of implantation and costs of these solutions.
Keywords: Public Transportation, Quality of Service, Riders' Opinion, Bus Companies, Practical Alternatives.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1643612 Analysis of Entrepreneurship in Industrial Cluster
Authors: Wen-Hsiang Lai
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Except for the internal aspects of entrepreneurship (i.e.motivation, opportunity perspective and alertness), there are external aspects that affecting entrepreneurship (i.e. the industrial cluster). By comparing the machinery companies located inside and outside the industrial district, this study aims to explore the cluster effects on the entrepreneurship of companies in Taiwan machinery clusters (TMC). In this study, three factors affecting the entrepreneurship in TMC are conducted as “competition”, “embedded-ness” and “specialized knowledge”. The “competition” in the industrial cluster is defined as the competitive advantages that companies gain in form of demand effects and diversified strategies; the “embedded-ness” refers to the quality of company relations (relational embedded-ness) and ranges (structural embedded-ness) with the industry components (universities, customers and complementary) that affecting knowledge transfer and knowledge generations; the “specialized knowledge” shares theinternal knowledge within industrial clusters. This study finds that when comparing to the companieswhich are outside the cluster, the industrial cluster has positive influence on the entrepreneurship. Additionally, the factor of “relational embedded-ness” has significant impact on the entrepreneurship and affects the adaptation ability of companies in TMC. Finally, the factor of “competition” reveals partial influence on the entrepreneurship.
Keywords: Entrepreneurship, Industrial Cluster, Industrial District, Economies of Agglomerations, Taiwan Machinery Cluster (TMC).
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2248611 The Key Factors in Shipping Company’s Port Selection for Providing Their Supplies
Authors: Sedigheh Zarei
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The aim of this research is to identify the key factors in shipping company’s port selection in order to providing their requirement. To identify and rank factors that play the main role in selecting port for providing the ship requirement, at the first step, data were collected via Semi-structured interviews, the aim was to generate knowledge on how shipping company select the port and suppliers for providing their needs. 37 port selection factors were chosen from the previous researches and field interviews and have been categorized into two groups of port's factor and the factors of services of suppliers companies. The current study adopts a questionnaire survey to the main shipping companies' operators in Iran. Their responses reveal that level of services of supplying companies and customs rules play the important role in selecting the ports. Our findings could affect decisions made by port authorities to consider that supporting the privet sections for ship chandelling business could have the best result in attracting ships.
Keywords: Port selection, ship supplier, ship chandler, provision.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6565610 A Comparison of Energy Calculations for a Single-Family Detached Home with Two Energy Simulation Methods
Authors: Amir Sattari
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For newly produced houses and energy renovations, an energy calculation needs to be conducted. This is done to verify whether the energy consumption criteria of the house -to reach the energy targets by 2020 and 2050- are in-line with the norms. The main purpose of this study is to confirm whether easy to use energy calculation software or hand calculations used by small companies or individuals give logical results compared to advanced energy simulation program used by researchers or bigger companies. There are different methods for calculating energy consumption. In this paper, two energy calculation programs are used and the relation of energy consumption with solar radiation is compared. A hand calculation is also done to validate whether the hand calculations are still reasonable. The two computer programs which have been used are TMF Energi (the easy energy calculation variant used by small companies or individuals) and IDA ICE - Indoor Climate and Energy (the advanced energy simulation program used by researchers or larger companies). The calculations are done for a standard house from the Swedish house supplier Fiskarhedenvillan. The method is based on having the same conditions and inputs in the different calculation forms so that the results can be compared and verified. The house has been faced differently to see how the orientation affects energy consumption in different methods. The results for the simulations are close to each other and the hand calculation differs from the computer programs by only 5%. Even if solar factors differ due to the orientation of the house, energy calculation results from different computer programs and even hand calculation methods are in line with each other.
Keywords: Energy calculation, energy consumption, energy simulation, IDA ICE, TMF Energi.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1032609 Analysis of the Reasons behind the Deteriorated Standing of Engineering Companies during the Financial Crisis
Authors: Levan Sabauri
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In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.
Keywords: Efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1561608 Social Business Process Management and Business Process Management Maturity
Authors: Dalia Suša Vugec, Vesna Bosilj Vukšić, Ljubica Milanović Glavan
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Business process management (BPM) is a well-known holistic discipline focused on managing business processes with the intention of achieving higher level of BPM maturity and better organizational performance. In recent period, traditional BPM faced some of its limitations like model-reality divide and lost innovation. Following latest trends, as an attempt to overcome the issues of traditional BPM, there has been an introduction of applying the principles of social software in managing business processes which led to the development of social BPM. However, there are not many authors or studies dealing with this topic so this study aims to contribute to that literature gap and to examine the link between the level of BPM maturity and the usage of social BPM. To meet these objectives, a survey within the companies with more than 50 employees has been conducted. The results reveal that the usage of social BPM is higher within the companies which achieved higher level of BPM maturity. This paper provides an overview, analysis and discussion of collected data regarding BPM maturity and social BPM within the observed companies and identifies the main social BPM principles.
Keywords: Business process management, BPM maturity, process performance index, social BPM.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1622607 Development of an Organizational Knowledge Capabilities Assessment (OKCA) Method for Innovative Technology Enterprises
Authors: C.F. Cheung, Ricky Ma, W.Y. Wong, Y.L. Tse
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Knowledge capabilities are increasingly important for the innovative technology enterprises to enhance the business performance in terms of product competitiveness, innovation and sales. Recognition of the company capability by auditing allows them to further pursue advancement, strategic planning and hence gain competitive advantages. This paper attempts to develop an Organizations- Knowledge Capabilities Assessment (OKCA) method to assess the knowledge capabilities of technology companies. The OKCA is a questionnaire-based assessment tool which has been developed to uncover the impact of various knowledge capabilities on different organizational performance. The collected data is then analyzed to find out the crucial elements for different technological companies. Based on the results, innovative technology enterprises are able to recognize the direction for further improvement on business performance and future development plan. External environmental factors affecting organization performance can be found through the further analysis of some selected reference companies.Keywords: Audit and Assessment, Innovation, Intellectual Capital, Knowledge and Technology Management, Knowledge Capability
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1864606 An Insurer’s Investment Model with Reinsurance Strategy under the Modified Constant Elasticity of Variance Process
Authors: K. N. C. Njoku, Chinwendu Best Eleje, Christian Chukwuemeka Nwandu
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One of the problems facing most insurance companies is how best the burden of paying claims to its policy holders can be managed whenever need arises. Hence there is need for the insurer to buy a reinsurance contract in order to reduce risk which will enable the insurer to share the financial burden with the reinsurer. In this paper, the insurer’s and reinsurer’s strategy is investigated under the modified constant elasticity of variance (M-CEV) process and proportional administrative charges. The insurer considered investment in one risky asset and one risk free asset where the risky asset is modeled based on the M-CEV process which is an extension of constant elasticity of variance (CEV) process. Next, a nonlinear partial differential equation in the form of Hamilton Jacobi Bellman equation is obtained by dynamic programming approach. Using power transformation technique and variable change, the explicit solutions of the optimal investment strategy and optimal reinsurance strategy are obtained. Finally, some numerical simulations of some sensitive parameters were obtained and discussed in details where we observed that the modification factor only affects the optimal investment strategy and not the reinsurance strategy for an insurer with exponential utility function.
Keywords: Reinsurance strategy, Hamilton Jacobi Bellman equation, power transformation, M-CEV process, exponential utility.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 302605 Overcoming Barriers to Open Innovation at Apple, Nintendo and Nokia
Authors: Erik Pontiskoski, Kazuhiro Asakawa
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This is a conceptual paper on the application of open innovation in three case examples of Apple, Nintendo, and Nokia. Utilizing key concepts from research into managerial and organizational cognition, we describe how each company overcame barriers to utilizing open innovation strategy in R&D and commercialization projects. We identify three levels of barriers: cognitive, behavioral, and institutional, and describe the companies balanced between internal and external resources to launch products that were instrumental in companies reinventing themselves in mature markets.Keywords: managerial cognition, open innovation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6866604 Reduce the Complexity of Material Requirement Planning on Excel by an Algorithm
Authors: Sumitra Nuanmeesri, Kanate Ploydanai
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Many companies have excel, it is economy and well perform to use in material requirement planning (MRP) on excel. For several products, it, however, is complex problem to link the relationship between the tables of products because the relationship depends on bill of material (BOM). This paper presents algorithm to create MRP on excel, and links relationship between tables. The study reveals MRP that is created by the algorithm which is easier and faster than MRP that created by human. By this technique, MRP on excel might be good ways to improve a productivity of companies.
Keywords: Material requirement planning, Algorithm, Spreadsheet.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3261603 Visualization of Quantitative Thresholds in Stocks
Authors: Siddhant Sahu, P. James Daniel Paul
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Technical analysis comprised by various technical indicators is a holistic way of representing price movement of stocks in the market. Various forms of indicators have evolved from the primitive ones in the past decades. There have been many attempts to introduce volume as a major determinant to determine strong patterns in market forecasting. The law of demand defines the relationship between the volume and price. Most of the traders are familiar with the volume game. Including the time dimension to the law of demand provides a different visualization to the theory. While attempting the same, it was found that there are different thresholds in the market for different companies. These thresholds have a significant influence on the price. This article is an attempt in determining the thresholds for companies using the three dimensional graphs for optimizing the portfolios. It also emphasizes on the magnitude of importance of volumes as a key factor for determining of predicting strong price movements, bullish and bearish markets. It uses a comprehensive data set of major companies which form a major chunk of the Indian automotive sector and are thus used as an illustration.
Keywords: Technical Analysis, Expert System, Law of demand, Stocks, Portfolio Analysis, Indian Automotive Sector.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2080602 Adaptation Actions in Companies as Theoretical and Practical Aspects: A Case Study of a Food Ingredients and Additives Producer
Authors: Maja Sajdak
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The aim of this article is to identify the measures companies undertake in order to adapt to the environment as well as discussing their diversity and effectiveness. The research methods used in the study include an in-depth analysis of the literature and a case study, which helps to illustrate the issue in question. Referring to the concept of agility, which is firmly embedded in the theory of strategic management and has been developed with the aim of adapting to the environment and its changes, the paper first examines different types of adaptation measures for companies. Then the issue under discussion is illustrated with the example of the company Hortimex. This company is an eminent representative of the world’s leading manufacturers of food additives and ingredients. The company was established in 1988 and is a family business, which in practice means that it conducts business in a responsible manner, observing the law and respecting the interests of society and the environment. The company’s mission is to develop a market in Poland for the products and solutions offered by their partners and to share their knowledge of additives in food production and consumption.Keywords: Adaptation measures, agile company, flexibility, unanticipated changes.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1478601 SCM Challenges and Opportunitiesin the Timber Construction Sector
Authors: K. Reitner, F. Staberhofer, W. Ortner, M. Gerschberger
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The purpose of this paper is to identify the main challenges faced by companies in the timber construction sector and to provide improvement opportunities that can be implemented on a short-, medium- and long-term basis. To identify the challenges and propose actions for each company a literature review and a multiple case research were conducted using the Quick Scan Audit Methodology. Finally, the findings and outcomes are compared with each other to support companies in the timer construction sector when implementing and restructuring their day-to-day activities.
Keywords: Supply chain management, supply chain challenges and opportunities, timber construction sector.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1770600 A Location-Allocation-Routing Model for a Home Health Care Supply Chain Problem
Authors: Amir Mohammad Fathollahi Fard, Mostafa Hajiaghaei-Keshteli, Mohammad Mahdi Paydar
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With increasing life expectancy in developed countries, the role of home care services is highlighted by both academia and industrial contributors in Home Health Care Supply Chain (HHCSC) companies. The main decisions in such supply chain systems are the location of pharmacies, the allocation of patients to these pharmacies and also the routing and scheduling decisions of nurses to visit their patients. In this study, for the first time, an integrated model is proposed to consist of all preliminary and necessary decisions in these companies, namely, location-allocation-routing model. This model is a type of NP-hard one. Therefore, an Imperialist Competitive Algorithm (ICA) is utilized to solve the model, especially in large sizes. Results confirm the efficiency of the developed model for HHCSC companies as well as the performance of employed ICA.
Keywords: Home health care supply chain, location-allocation-routing problem, imperialist competitive algorithm, optimization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1046599 Logistic and Its Importance in Turkish Food Sector and an Analysis of the Logistics Sector in Turkey
Authors: Şule Turhan, Özlem Turan
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Permanence in the international markets for many global companies is about being known as having effective logistics which targets customer satisfaction management and lower costs. Under competitive conditions, the necessity of providing the products to customers quickly and on time for the companies which constantly aim to improve their profitability increased the strategic importance of the logistics concept. Food logistic is one of the most difficult areas in logistics. In the process from manufacturer to final consumer, quality and hygiene standards must be provided constantly. In food logistics, reliable and extensive service network has great importance and on time delivery is the target. Developing logistics industry provide the supply of foods in the country and the development of export markets more quickly and has an important role in providing added value to the country's economy. Turkey that creates a bridge between the east and the west is an attractive market for logistics companies. In this study, by examining both the place and the importance of logistics in Turkish food sector, recommendations will be made for the food industry.Keywords: Logistics, Turkish food industry, competition, food industry.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1322598 Directors’ Duties, Civil Liability, and the Business Judgment Rule under the Portuguese Legal Framework
Authors: Marisa Catarina da Conceição Dinis
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The commercial companies’ management has suffered an important material and legal transformation in the last years, mainly related to the changes in the Portuguese legal framework and because of the fact they were recently object of great expansion. In fact, next to the smaller family businesses, whose management is regularly assumed by partners, companies with social investment highly scattered, whose owners are completely out from administration, are now arising. In those particular cases, the business transactions are much more complex and require from the companies’ managers a highly technical knowledge and some specific professionals’ skills and abilities. This kind of administration carries a high-level risk that can both result in great success or in great losses. Knowing that the administration performance can result in important losses to the companies, the Portuguese legislator has created a legal structure to impute them some responsibilities and sanctions. The main goal of this study is to analyze the Portuguese law and some jurisprudence about companies’ management rules and about the conflicts between the directors and the company. In order to achieve these purposes we have to consider, on the one hand, the legal duties directly connected to the directors’ functions and on the other hand the disrespect for those same rules. The Portuguese law in this matter, influenced by the common law, determines that the directors’ attitude should be guided by loyalty and honesty. Consequently, we must reflect in which cases the administrators should respond to losses that they might cause to companies as a result of their duties’ disrespect. In this way is necessary to study the business judgment rule wich is a rule that refers to a liability exclusion rule. We intend, in the same way, to evaluate if the civil liability that results from the directors’ duties disrespect can extend itself to those who have elected them ignoring or even knowing that they don´t have the necessary skills or appropriate knowledge to the position they hold. To charge directors’, without ruining entrepreneurship, charging, in the same way, those who select them reinforces the need for more responsible and cautious attitudes which will lead consequently to more confidence in the markets.
Keywords: Duty of loyalty, duty of care, business judgment rule, civil liability of directors.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1238597 Building a Service-Centric Business Model in SMEs in the Business-to-Business Context
Authors: Päivi J. Tossavainen , Leena Alakoski, Katri Ojasalo
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Building a service-centric business model requires new knowledge and capabilities in companies. This paper enlightens the challenges small and medium sized firms (SMEs) face when developing their service-centric business models. This paper examines the premise for knowledge transfer and capability development required. The objective of this paper is to increase knowledge about SME-s transformation to service-centric business models.This paper reports an action research based case study. The paper provides empirical evidence from three case companies. The empirical data was collected through multiple methods. The findings of the paper are: First, the developed model to analyze the current state in companies. Second, the process of building the service – centric business models. Third, the selection of suitable service development methods. The lack of a holistic understanding on service logic suggests that SMEs need practical and easy to use methods to improve their businessKeywords: service-centric business model, service development, action research, case study
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1771596 The Impact of Host Country Effects on Transferring HRM Practices from Western Headquarters to Ukrainian Subsidiaries
Authors: O. A. Novitskaya
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The emerging markets of post-USSR countries have attracted Western multinational companies; however, weak institutions and unstable host country environments have hindered the implementation of successful management practices. The Ukrainian market, in light of recent events, is particularly interesting to study for its compatibility with Western businesses. This paper focuses on factors that can facilitate or inhibit the transfer of human resource management practices from Western headquarters to Ukrainian subsidiaries. To explain the national context’s effects better, a business systems approach has been applied to a qualitative study of 16 wholly owned Western subsidiaries, dissecting the reasons for a weak integration of Western practices in Ukraine. Results show that underdeveloped institutions have forced companies to develop additional practices that compensate for national weaknesses, as well as to adjust to a constantly changing environment. Flexibility and local responsiveness were observed as vital for success in Ukraine.Keywords: Business system, HR practices, human resource management, multinational companies, Ukraine.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3335595 Human Resource Management Practices, Person-Environment Fit and Financial Performance in Brazilian Publicly Traded Companies
Authors: Bruno Henrique Rocha Fernandes, Amir Rezaee, Jucelia Appio
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The relation between Human Resource Management (HRM) practices and organizational performance remains the subject of substantial literature. Though many studies demonstrated positive relationship, still major influencing variables are not yet clear. This study considers the Person-Environment Fit (PE Fit) and its components, Person-Supervisor (PS), Person-Group (PG), Person-Organization (PO) and Person-Job (PJ) Fit, as possible explanatory variables. We analyzed PE Fit as a moderator between HRM practices and financial performance in the “best companies to work” in Brazil. Data from HRM practices were classified through the High Performance Working Systems (HPWS) construct and data on PE-Fit were obtained through surveys among employees. Financial data, consisting of return on invested capital (ROIC) and price earnings ratio (PER) were collected for publicly traded best companies to work. Findings show that PO Fit and PJ Fit play a significant moderator role for PER but not for ROIC.
Keywords: Financial performance, human resource management, high performance working systems, person-environment fit.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1338594 Designing Social Care Policies in the Long Term: A Study Using Regression, Clustering and Backpropagation Neural Nets
Authors: Sotirios Raptis
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Linking social needs to social classes using different criteria may lead to social services misuse. The paper discusses using ML and Neural Networks (NNs) in linking public services in Scotland in the long term and advocates, this can result in a reduction of the services cost connecting resources needed in groups for similar services. The paper combines typical regression models with clustering and cross-correlation as complementary constituents to predict the demand. Insurance companies and public policymakers can pack linked services such as those offered to the elderly or to low-income people in the longer term. The work is based on public data from 22 services offered by Public Health Services (PHS) Scotland and from the Scottish Government (SG) from 1981 to 2019 that are broken into 110 years series called factors and uses Linear Regression (LR), Autoregression (ARMA) and 3 types of back-propagation (BP) Neural Networks (BPNN) to link them under specific conditions. Relationships found were between smoking related healthcare provision, mental health-related health services, and epidemiological weight in Primary 1(Education) Body Mass Index (BMI) in children. Primary component analysis (PCA) found 11 significant factors while C-Means (CM) clustering gave 5 major factors clusters.
Keywords: Probability, cohorts, data frames, services, prediction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 438593 Determinants of Capital Structure in Malaysia Electrical and Electronic Sector
Authors: Mazila Md-Yusuf, Fauziah Mohamad Yunus, Nur Zahraatul Lail Md Supaat
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Capital structure is one of the most important financial decisions in corporate financing strategy. It involves the choice of debt and equity level in financing a company-s operations. This study aims to investigate whether the capital structure choice of Malaysian electrical and electronic manufacturing companies that are listed in the Bursa Malaysia can be explained by factors that have been found by most studies as dominant determinants of capital structure (company size, profitability, asset tangibility, liquidity and growth). Using debt ratio as the proxy for capital structure and applying pooled ordinary least square multiple regression estimation, the results showed that on average, Malaysian electrical and electronic manufacturing companies used less debt in funding their business operations. The findings also showed that size and asset tangibility has a significant positive relationship with debt level, while liquidity has a negative significant relationship with leverage.Keywords: Capital structure, capital structure theories, leverage, manufacturing companies.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5316592 Environmental Accounting Practice: Analyzing the Extent and Qualification of Environmental Disclosures of Turkish Companies Located in BIST-XKURY Index
Authors: Raif Parlakkaya, Mustafa Nihat Demirci, Mehmet Nuri Salur
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Environmental pollution has detrimental effects on the quality of our life and its scope has reached such an extent that measures are being taken both at the national and international levels to reduce, prevent and mitigate its impact on social, economic and political spheres. Therefore, awareness of environmental problems has been increasing among stakeholders and accordingly among companies. It is seen that corporate reporting is expanding beyond environmental performance. Primary purpose of publishing an environmental report is to provide specific audiences with useful, meaningful information. This paper is intended to analyze the extent and qualification of environmental disclosures of Turkish publicly quoted firms and see how it varies from one sector to another. The data for the study were collected from annual activity reports of companies, listed on the corporate governance index (BIST-XKURY) of Istanbul Stock Exchange. Content analysis was the research methodology used to measure the extent of environmental disclosure. Accordingly, 2015 annual activity reports of companies that carry out business in some particular fields were acquired from Capital Market Board, websites of Public Disclosure Platform and companies’ own websites. These reports were categorized into five main aspects: Environmental policies, environmental management systems, environmental protection and conservation activities, environmental awareness and information on environmental lawsuits. Subsequently, each component was divided into several variables related to what each firm is supposed to disclose about environmental information. In this context, the nature and scope of the information disclosed on each item were assessed according to five different ways (N.I: No Information; G.E.: General Explanations; Q.E.: Qualitative Detailed Explanations; N.E.: Quantitative (numerical) Detailed Explanations; Q.&N.E.: Both Qualitative and Quantitative Explanations).Keywords: Environmental accounting, disclosure, corporate governance, content analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1093591 Social Media as a ‘Service’ for Value Co-Creation by Integrating Sponsoring Companies, Sports Entities and Fans
Authors: Harri Jalonen
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Social media has changed the ways we communicate, collaborate and connect with each other. It has also influenced our habits of consuming sports. Social media has allowed direct interaction between sponsoring companies, athletes/players and fans. Drawing on the service dominant logic of value co-creation, the conceptual paper identifies three operant resources which are beneficial for value co-creation: i) social identity and sense of community, ii) congruence and brand personality, and iii) participatory culture and fan activation. The paper contributes to the theoretical discussion on how social can be media used for value co-creation purposes in the sports industry.
Keywords: Sport, value co-creation, social media, service.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1626590 Application of Company Financial Crisis Early Warning Model- Use of “Financial Reference Database“
Authors: Chiung-ying Lee, Chia-hua Chang
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In July 1, 2007, Taiwan Stock Exchange (TWSE) on market observation post system (MOPS) adds a new "Financial reference database" for investors to do investment reference. This database as a warning to public offering companies listed on the public financial information and it original within eight targets. In this paper, this database provided by the indicators for the application of company financial crisis early warning model verify that the database provided by the indicator forecast for the financial crisis, whether or not companies have a high accuracy rate as opposed to domestic and foreign scholars have positive results. There is use of Logistic Regression Model application of the financial early warning model, in which no joined back-conditions is the first model, joined it in is the second model, has been taken occurred in the financial crisis of companies to research samples and then business took place before the financial crisis point with T-1 and T-2 sample data to do positive analysis. The results show that this database provided the debt ratio and net per share for the best forecast variables.Keywords: Financial reference database, Financial early warning model, Logistic Regression.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1416589 Corporate Fraud: An Analysis of Malaysian Securities Commission Enforcement Releases
Authors: Raziah Bi Mohamed Sadique, Jamal Roudaki, Murray B. Clark, Norhayati Alias
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Economic crime (i.e. corporate fraud) has a significant impact on business. This study analyzes the fraud cases reported by the Malaysian Securities Commission. Frauds involving market manipulation and/or illegal share trading are the most common types of fraud reported over the 6 years analyzed. The highest number of frauds reported involved investment and fund holding companies. Alarmingly the results indicate quite a high number of frauds cases are committed by management. The higher number of Chinese perpetrators may be due to fact that they are the dominant group in Malaysian business. The result also shows that more than half of companies involved with fraud are privately held companies in the investment/fund/finance sector. The results of this study highlight general characteristic of perpetrators (person and company) that commit fraud which could help the regulators in their monitoring and enforcement activities. To investors, this would help in analyzing their business investment or portfolio risk.Keywords: Corporate fraud, economic crime, fraudcharacteristic, perpetrators
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5288588 Identifying the Barriers behind the Lack of Six Sigma Use in Libyan Manufacturing Companies
Authors: Osama Elgadi, Martin Birkett, Wai Ming Cheung
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This paper investigates the barriers behind the underutilisation of six sigma in Libyan manufacturing companies (LMCs). A mixed-method methodology is proposed, starting by conducting interviews to collect qualitative data followed by the development of a questionnaire to obtain quantitative data. The focus of this paper is on discussing the findings of the interview stage and how these can be used to further develop the questionnaire stage. The interview results showed that only four key barriers were highlighted as being encountered by LMCs. With a difference in terms of their significance, these factors were identified, and placed in descending order according to their importance, namely: “Lack of top management commitment”, “Lack of training”, “Lack of knowledge about six sigma”, and “Culture effect”. The findings also showed that some barriers which, were found in previous studies of six sigma implementation were not considered as barriers to LMCs but can, in fact, be considered as success factors or enablers for six sigma adoption. These factors were identified as: “sufficiency of time and financial resources”; “customers unsatisfied”; “good communication between all departments in the company”; “we are certain about its results and benefits to our company and unhappy with the current quality system”. These results suggest that LMCs face fewer barriers to adopting six sigma than many well-established global companies operating in other countries and could take advantage of these successful factors by developing and implementing a six sigma framework to improve their product quality and competitiveness.
Keywords: Six sigma, barriers, Libyan manufacturing companies, interview.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1749587 Technological Environment - International Marketing Strategy Relationship
Authors: Suthawan Chirapanda
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International trade involves both large and small firms engaged in business overseas. Possible drivers that force companies to enter international markets include increasing competition at the domestic market, maturing domestic markets, and limited domestic market opportunities. Technology is an important driving factor in shaping international marketing strategy as well as in driving force towards a more global marketplace, especially technology in communication. It includes telephones, the internet, computer systems and e-mail. There are three main marketing strategy choices, namely standardization approach, adaptation approach and middleof- the-road approach that companies implement to overseas markets. The decision depends on situations and factors facing the companies in the international markets. In this paper, the contingency concept is considered that no single strategy can be effective in all contexts. The effect of strategy on performance depends on specific situational variables. Strategic fit is employed to investigate export marketing strategy adaptation under certain environmental conditions, which in turn can lead to superior performance.Keywords: Contingency approach, international marketing strategy, strategic fit, technological environment
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6759586 Corporate Governance Practices and Audit Quality: An Empirical Study of the Listed Companies in Egypt
Authors: Mohamed Moustafa Soliman, Mohamed Abd Elsalam
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Recent financial international scandals around the world have led to a number of investigations into the effectiveness of corporate governance practices and audit quality. Although evidence of corporate governance practices and audit quality exists from developed economies, very scanty studies have been conducted in Egypt where corporate governance is just evolving. Therefore, this study provides evidence on the effectiveness of corporate governance practices and audit quality from a developing country. The data for analysis are gathered from the top 50 most active companies in the Egyptian Stock Exchange, covering the three year period 2007-2009. Logistic regression was used in investigating the questions that were raised in the study. Findings from the study show that board independence; CEO duality and audit committees significantly have relationship with audit quality. The results also, indicate that institutional investor and managerial ownership have no significantly relationship with audit quality. Evidence also exist that size of the company; complexity and business leverage are important factors in audit quality for companies quoted on the Egypt Stock Exchange.
Keywords: Corporate governance, Boards of directors, corporate ownership, Audit Committees, Audit quality, and Egypt.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3908585 An Exploratory Study Regarding the Effects of Auditor Switch, Auditee’s Industry, and Auditee’s Location on Audit Fees in Australia
Authors: Ashkan Mirzay Fashami
Abstract:
This study examines the effects of auditor switch, auditee’s industry, and auditee’s location on audit fees in Australia. It uses fee data of Australian Securities Exchange 500 companies, considering all industry classifications throughout the country from 2006 until 2016. Main findings show that auditor switch does not affect audit fees. However, auditee’s industry affects audit fees. This effect occurs in information technology, financials, energy, and materials sectors among the top 500 companies. Financials, energy, and materials sectors face a fee rise, whereas information technology has a fee cut. The extent of fee changes is different among various industries, wherein the financial sector has the highest increase. Further, auditee’s location affects audit fees. Top 500 companies in Hobart, Perth, and Brisbane face a fee reduction, wherein the highest cut is in Hobart. Further analysis suggests that the Australian audit market is being increasingly concentrated in the hands of the Big Four audit firms.
Keywords: Audit fee, auditor switch, Australia, industry, location.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 918584 Preliminary Views on the Determinants of the Cost of Capital for the Emergent Market of Romania
Authors: I. Ionascu, M. Ionascu, D.-A. Calu, L. Olimid
Abstract:
This paper investigates several factors affecting the cost of capital for listed Romanian companies. Although there is a large amount of literature investigating the drivers of the cost of capital internationally, there is currently little evidence from emergent markets. Based on a sample of 19 Romanian listed companies followed by financial analysts for the years 2008-2010, according to Thomson Reuters- I/B/E/S data base, the paper confirms the international trends, showing that size, corporate governance policies, and growth are negatively correlated with the cost of capital.Keywords: Corporate governance, determinants of the cost of capital, emergent markets.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1534