Search results for: stock market trading
993 Effect of Delay on Supply Side on Market Behavior: A System Dynamic Approach
Authors: M. Khoshab, M. J. Sedigh
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Dynamic systems, which in mathematical point of view are those governed by differential equations, are much more difficult to study and to predict their behavior in comparison with static systems which are governed by algebraic equations. Economical systems such as market are among complicated dynamic systems. This paper tries to adopt a very simple mathematical model for market and to study effect of supply and demand function on behavior of the market while the supply side experiences a lag due to production restrictions.Keywords: Dynamic System, Lag on Supply Demand, Market Stability, Supply Demand Model.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1541992 Information Technology Governance Implementation and Its Determinants in the Egyptian Market
Authors: Nariman O. Kandil, Ehab K. Abou-Elkheir, Amr M. Kotb
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Effective IT governance guarantees the strategic alignment of IT and business goals, risk mitigation control, and better IT and business performance. This study seeks to examine empirically the extent of IT governance implementation within the firms listed on the Egyptian Stock Exchange (EGX30) and its determinants. Accordingly, 18 semi-structured interviews, face to face, phone, and video-conferencing, using various tools (e.g., WebEx, Zoom, and Microsoft Teams) were undertaken at the interviewees’ offices in Egypt between the end of November 2019 and the end of August 2020. Results suggest that there are variances in the extent of IT Governance (ITG) implementation within the firms listed on the EGX30, mainly caused by the industry type and internal and external triggers. The results also suggest that the organization size, the type of auditor, the criticality of the industry, the effective processes & key performance indicators (KPIs), and the information intensity expertise of the chief information officers (CIOs) have a significant impact on ITG implementation within the firms.
Keywords: Effective IT governance, Egyptian Market, information security, risk controls.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 168991 Board Members' Financial Education and Firms' Performance: Empirical Evidence for Bucharest Stock Exchange Companies
Authors: Mădălina Maria Gîrbină, Cătălin Nicolae Albu, Nadia Albu
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After the accounting scandals and the financial crisis, regulators have stressed the need for more financial experts on boards. Several studies conducted in countries with developed capital markets report positive effects of board financial competencies. As each country offers a different context and specific institutional factors this paper addresses the subject in the context of Romania. The Romanian capital market offers an interesting research field because of the heterogeneity of listed firms. After analyzing board members education based on public information posted on listed companies websites and their annual reports we found a positive association between the proportion of board members holding a postgraduate degree in financial fields and market based performance measured by Tobin q. We found also that the proportion of Board members holding degrees in financial fields is higher in bigger firms and firms with more concentrated ownership.
Keywords: financial education, corporate governance, board
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3872990 Effects of Market Share and Diversification on Nonlife Insurers- Performance
Authors: M. Pervan, T. Pavic Kramaric
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The aim of this paper is to investigate the influence of market share and diversification on the nonlife insurers- performance. The underlying relationships have been investigated in different industries and different disciplines (economics, management...), still, no consistency exists either in the magnitude or statistical significance of the relationship between market share (and diversification as well) on one side and companies- performance on the other side. Moreover, the direction of the relationship is also somewhat questionable. While some authors find this relationship to be positive, the others reveal its negative association. In order to test the influence of market share and diversification on companies- performance in Croatian nonlife insurance industry for the period from 1999 to 2009, we designed an empirical model in which we included the following independent variables: firms- profitability from previous years, market share, diversification and control variables (i.e. ownership, industrial concentration, GDP per capita, inflation). Using the two-step generalized method of moments (GMM) estimator we found evidence of a positive and statistically significant influence of both, market share and diversification, on insurers- profitability.Keywords: Diversification, market share, nonlife insurance
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1676989 To Be Smooth of The Interest and Output of Accepted Companies Stock at Negotiable Paper Exchange of Tehran
Authors: Mohammad Hadi Zohdi, Mohamad Reza Dalvand, Maryam Zohdi
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In this research relationship between to be smooth the interest and output of accepted companies stock at negotiable paper exchange of Tehran is studied. Static community capacity included 363 companies member of negotiable paper exchange of Tehran that 54 companies were, by considering research limitation, selected from 2004 to 2009. Needed data for model test in librarian method was chosen from RAH AVARDE NOVIN informative banks, TADBIR and collecting needed data was selected from Tehran negotiable paper exchange archive. Given results show that in spite of belief among people based on companies have more smooth interest have more output, but resulted outcomes of test-done reveals that there is no relation between smooth interest and stock output.Keywords: Smooth interest, interest fluctuation, interest level, output average, cost capital
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1229988 Value Stream Oriented Inventory Management
Authors: GuentherSchuh, Till Potente, SaschaFuchs, Annika Hauptvogel, Tobias Welter
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Producing companies aspire to high delivery availability despite appearing disruptions. To ensure high delivery availability safety stocksare required. Howeversafety stock leads to additional capital commitment and compensates disruptions instead of solving the reasons.The intention is to increase the stability in production by configuring the production planning and control systematically. Thus the safety stock can be reduced. The largest proportion of inventory in producing companies is caused by batch inventory, schedule deviations and variability of demand rates.These reasons for high inventory levels can be reduced by configuring the production planning and control specifically. Hence the inventory level can be reduced. This is enabled by synchronizing the lot size straightening the demand as well as optimizing the releasing order, sequencing and capacity control.Keywords: inventory level, inventory management, production planning and control, safety stock
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1614987 The Role of Middle Class in Forming of Consumption Habits of Market Institutions among Kazakh Households in Transition Period
Authors: Daurenbek Kuleimenov, Elmira Otar
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Market institutions extension within transit societies contributes to constituting the new type of middle class and households livelihood strategies. The middle class households as an example of prosperity in many cases encourage the ordinary ones to do the same economic actions. Therefore, practices of using market institutions by middle class households in transit societies, which are mostly characterized by huge influence of traditional attitudes, can carry habitual features for the whole society. Market institutions consumption habit of the middle class households makes them trendsetters of economic habits of other households while adapting to the market economy. Moreover different social-economic positions of households lead them to different consuming results such as worsening or improving household economy due to indebtedness.
Keywords: Middle class, Households, Market institutions, Transition.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1746986 Is the Liberalization Policy Effective on Improving the Bivariate Cointegration of Current Accounts, Foreign Exchange, Stock Prices? Further Evidence from Asian Markets
Authors: Chen-Yin Kuo
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This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently exhibited a bi-directional causal relationship between any two of three indicators. Unlike Pan et al. (2007) and Phylaktis and Ravazzolo (2005), we found that such cointegration is influenced by three characteristics: capital control; flexibility in foreign exchange rates; and the ratio of trade to GDP. These characteristics are the result of liberalization in each Asian country. This implies that liberalization policies are effective on improving the cointegration between any two of financial markets and current account for ten Asian countries.
Keywords: Current account, stock price, foreign exchange rate, country characteristics, bivariate cointegration, bi-directional causal relationships.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1464985 Achieving Performance in an Organization through Marketing Innovation
Authors: Andreea Maier, Diana Nicoară, Dorin Maier, Maria-Mihaela Suărăsan, Alexandra Anastasiu
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Innovation is becoming more and more important in modern society. There are a lot of researches on different kinds of innovation but marketing innovation is one kind of innovation that has not been studied frequently before. Marketing innovation is defined as a new way in which companies can market themselves to potential or existing customers. The study shows some key elements for marketing innovation that are worth paying attention to when implementing marketing innovation projects. Examples of such key elements are: paying attention to the neglected market, suitable market segmentatio reliable market information, public relationship, increased customer value, combination of market factors, explore different marketing channels and the use of technology in combination with what? Beside the key elements for marketing innovation, we also present some risks that may occur, such as cost, market uncertainty, information leakage, imitation and overdependence on experience. By proposing a set of indicators to measure marketing innovation, the article offers solutions for marketing innovation implementation so that any organization can achieve optimal results.Keywords: Innovation, marketing innovation, performance in an organization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1577984 Production Planning and Measuring Method for Non Patterned Production System Using Stock Cutting Model
Authors: S. Homrossukon, D. Aromstain
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The simple methods used to plan and measure non patterned production system are developed from the basic definition of working efficiency. Processing time is assigned as the variable and used to write the equation of production efficiency. Consequently, such equation is extensively used to develop the planning method for production of interest using one-dimensional stock cutting problem. The application of the developed method shows that production efficiency and production planning can be determined effectively.Keywords: Production Planning, Parallel Machine, Production Measurement, Cutting and Packing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1189983 Trends in IT Consulting in Austria
Authors: Michael Torggler
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IT consultants often take over an important role as an interface between technological, organizational and managerial structures. As a result, the services offered are in many cases assigned to different disciplines which can cause a lack of transparency on the market for consulting services. However, not all consulting products are suitable for every company because of different frameworks and business processes. In this context the questions arises as to what consulting products are currently offered and how they can be compared as well as how the market for IT consulting services is structured on the supply side. The presented study aims to shed light on the IT consulting market by giving an overview of the current structure of the supply-side for IT consulting services as well as proposing a categorization of the currently available consulting services (consulting fields) in order to provide a theoretical background for the empirical study. Apart from these theoretical considerations, the empirical results of field surveys on the Austrian IT consulting market are presented and analyzed.Keywords: IT Consulting, Management Consulting, ISConsulting, Consulting Fields, Market study.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1398982 Corporate Social Responsibility Practices of the Textile Firms Quoted in Istanbul Stock Exchange
Authors: Gulsevim Yumuk Gunay, Suleyman Gokhan Gunay
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Corporate social responsibility (CSR) can be defined as the management of social, environmental, economical and ethical concepts and firms sensivities to the expectations of the social stakeholders. CSR is seen as an important competitive advantage in the textile sector because this sector has an important impact on the environment and it is labor extensive. Textile sector has a strong advantage when compared with other sectors in Turkey due to its low labor costs and abundancy of raw materials. Turkey was a producer and an exporter of cotton, and an importer of fiber, clothes and dresses until 1950s. After 1950s, Turkey has begun to export fiber, ready-made clothes and become one of the most important textile producers in the world recently. CSR practices of the textile firms that are quoted in Istanbul Stock Exchange and these firms sensivities to their internal and external stakeholders and environment will be presented in this study.
Keywords: corporate social responsibility, Istanbul Stock Exchange, textile sector, Turkey
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2972981 Identifying the Gap between Consumers with Down Syndrome and Apparel Brands
Authors: Lucky Farha, Martha L. Hall
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The current adaptive clothing brands are limited in numbers and specific categories. This study explores clothing challenges for children with Down syndrome and factors that influence their perception of adaptive clothing brands. Another aim of this study was to explore brands' challenges in the adaptive business and factors that influence their perceptions towards the adaptive market. In order to determine the market barriers affecting adaptive target market needs, we applied Technology Acceptance Model. After interviewing and surveying parents/caregivers having children with Down syndrome and current adaptive brands, the results found education as the significant gap in the adaptive clothing market yet to be overcome. Based on the finding, several recommendations were suggested to improve the current barriers in the adaptive clothing market.
Keywords: Adaptive fashion, disability, functional clothing, clothing needs assessment, Down syndrome, clothing challenge.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 346980 Improving Order Quantity Model with Emergency Safety Stock (ESS)
Authors: Yousef Abu Nahleh, Alhasan Hakami, Arun Kumar, Fugen Daver
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This study considers the problem of calculating safety stocks in disaster situations inventory systems that face demand uncertainties. Safety stocks are essential to make the supply chain, which is controlled by forecasts of customer needs, in response to demand uncertainties and to reach predefined goal service levels. To solve the problem of uncertainties due to the disaster situations affecting the industry sector, the concept of Emergency Safety Stock (ESS) was proposed. While there exists a huge body of literature on determining safety stock levels, this literature does not address the problem arising due to the disaster and dealing with the situations. In this paper, the problem of improving the Order Quantity Model to deal with uncertainty of demand due to disasters is managed by incorporating a new idea called ESS which is based on the probability of disaster occurrence and uses probability matrix calculated from the historical data.
Keywords: Emergency Safety Stocks, Safety stocks, Order Quantity Model, Supply chain.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2858979 A Dynamic Hybrid Option Pricing Model by Genetic Algorithm and Black- Scholes Model
Authors: Yi-Chang Chen, Shan-Lin Chang, Chia-Chun Wu
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Unlike this study focused extensively on trading behavior of option market, those researches were just taken their attention to model-driven option pricing. For example, Black-Scholes (B-S) model is one of the most famous option pricing models. However, the arguments of B-S model are previously mentioned by some pricing models reviewing. This paper following suggests the importance of the dynamic character for option pricing, which is also the reason why using the genetic algorithm (GA). Because of its natural selection and species evolution, this study proposed a hybrid model, the Genetic-BS model which combining GA and B-S to estimate the price more accurate. As for the final experiments, the result shows that the output estimated price with lower MAE value than the calculated price by either B-S model or its enhanced one, Gram-Charlier garch (G-C garch) model. Finally, this work would conclude that the Genetic-BS pricing model is exactly practical.Keywords: genetic algorithm, Genetic-BS, option pricing model.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2228978 Mobile Communications Client Server System for Stock Exchange e-Services Access
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Using mobile Internet access technologies and eservices, various economic agents can efficiently offer their products or services to a large number of clients. With the support of mobile communications networks, the clients can have access to e-services, anywhere and anytime. This is a base to establish a convergence of technological and financial interests of mobile operators, software developers, mobile terminals producers and e-content providers. In this paper, a client server system is presented, using 3G, EDGE, mobile terminals, for Stock Exchange e-services access.Keywords: Mobile communications, e-services access, stockexchange.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2048977 Trends and Prospects for the Development of Georgian Wine Market
Authors: E. Kharaishvili, M. Chavleishvili, M. Natsvaladze
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The article presents the trends in Georgian wine market development and evaluates the competitive advantages of Georgia to enter the wine market based on its customs, traditions and historical practices combined with modern technologies. In order to analyze the supply of wine, dynamics of vineyard land area and grape varieties are discussed, trends in wine production are presented, trends in export and import are evaluated, local wine market, its micro and macro environments are studied and analyzed based on the interviews with experts and analysis of initial recording materials. For strengthening its position on the international market, the level of competitiveness of Georgian wine is defined, which is evaluated by “ex-ante” and “ex-post” methods, as well as by four basic and two additional factors of the Porter’s diamond method; potential advantages and disadvantages of Georgian wine are revealed. Conclusions are made by identifying the factors that hinder the development of Georgian wine market. Based on the conclusions, relevant recommendations are developed.
Keywords: Georgian wine market, competitive advantage, bio wine, export-import, Porter's diamond model.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4141976 Fuzzy EOQ Models for Deteriorating Items with Stock Dependent Demand and Non-Linear Holding Costs
Authors: G. C. Mahata, A. Goswami
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This paper deals with infinite time horizon fuzzy Economic Order Quantity (EOQ) models for deteriorating items with stock dependent demand rate and nonlinear holding costs by taking deterioration rate θ0 as a triangular fuzzy number (θ0 −δ 1, θ0, θ0 +δ 2), where 1 2 0 0 <δ ,δ <θ are fixed real numbers. The traditional parameters such as unit cost and ordering cost have been kept constant but holding cost is considered to vary. Two possibilities of variations in the holding cost function namely, a non-linear function of the length of time for which the item is held in stock and a non-linear function of the amount of on-hand inventory have been used in the models. The approximate optimal solution for the fuzzy cost functions in both these cases have been obtained and the effect of non-linearity in holding costs is studied with the help of a numerical example.
Keywords: Inventory Model, Deterioration, Holding Cost, Fuzzy Total Cost, Extension Principle.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1806975 Elucidating the Influence of Demographics and Psychological Traits on Investment Biases
Authors: Huei-Wen Lin
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This study explored the relationship between psychological traits, demographics and financial behavioral biases for individual investors in Taiwan stock market. By using questionnaire survey method conducted in 2010, there are 554 valid convenient samples collected to examine the determinants of three types of behavioral biases. Based on literature review, two hypothesized models are constructed and further used to evaluate the effects of big five personality traits and demographic variables on investment biases through Structural Equation Model (SEM) analysis. The results showed that investment biases of individual investors are significantly related to four personality traits as well as some demographics.Keywords: Behavioral finance, Big Five, Disposition effect, Herding, Overconfidence, Personality traits.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3926974 Value-Relevance of Accounting Information:Evidence from Iranian Emerging Stock Exchange
Authors: Ali Faal Ghayoumi, Mahmoud Dehghan Nayeri, Manouchehre Ansari, Taha Raeesi
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This study aims to investigate empirically the valuerelevance of accounting information to domestic investors in Tehran stock exchange from 1999 to 2006. During the present research impacts of two factors, including positive vs. negative earnings and the firm size are considered as well. The authors used earnings per share and annual change of earnings per share as the income statement indices, and book value of equity per share as the balance sheet index. Return and Price models through regression analysis are deployed in order to test the research hypothesis. Results depicted that accounting information is value-relevance to domestic investors in Tehran Stock Exchange according to both studied models. However, income statement information has more value-relevance than the balance sheet information. Furthermore, positive vs. negative earnings and firm size seems to have significant impact on valuerelevance of accounting information.Keywords: Value-Relevance of Accounting Information, Iranianstock exchange, Return Model, Price Model
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2557973 Financial Portfolio Optimization in Electricity Markets: Evaluation via Sharpe Ratio
Authors: F. Gökgöz, M. E. Atmaca
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Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.
Keywords: Electricity market, portfolio optimization, risk management in electricity market, Sharpe ratio.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1472972 Immigration and Gender Equality – An Analysis of the Labor Market Characteristics of Turkish Migrants Living in Germany
Authors: C. Asarkaya, S. Z. Siretioglu Girgin
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Turkish migrants constitute the largest group among people with migration background living in Germany. Turkish women’s labor market participation is of significant importance for their social and economic integration to the German society. This paper thus aims to investigate their labor market positions. Turkish migrant women participate less in the labor market compared to men, and are responsible for most of the housework, child care, and elderly care. This is due to their traditional roles in the family, educational level, insufficient knowledge of German language, and insufficient professional experience. We strongly recommend that wide-reaching integration policies for women are formulated, so as to encourage participation of not only migrant women but also their husbands, fathers and/or brothers, and natives.Keywords: Empowerment, Germany, Labor Market, Migration, Turkish, Women.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2370971 Forecasting the Istanbul Stock Exchange National 100 Index Using an Artificial Neural Network
Authors: Birol Yildiz, Abdullah Yalama, Metin Coskun
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Many studies have shown that Artificial Neural Networks (ANN) have been widely used for forecasting financial markets, because of many financial and economic variables are nonlinear, and an ANN can model flexible linear or non-linear relationship among variables. The purpose of the study was to employ an ANN models to predict the direction of the Istanbul Stock Exchange National 100 Indices (ISE National-100). As a result of this study, the model forecast the direction of the ISE National-100 to an accuracy of 74, 51%.Keywords: Artificial Neural Networks, Istanbul StockExchange, Non-linear Modeling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2227970 Forecast Based on an Empirical Probability Function with an Adjusted Error Using Propagation of Error
Authors: Oscar Javier Herrera, Manuel Ángel Camacho
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This paper addresses a cutting edge method of business demand forecasting, based on an empirical probability function when the historical behavior of the data is random. Additionally, it presents error determination based on the numerical method technique ‘propagation of errors.’ The methodology was conducted characterization and process diagnostics demand planning as part of the production management, then new ways to predict its value through techniques of probability and to calculate their mistake investigated, it was tools used numerical methods. All this based on the behavior of the data. This analysis was determined considering the specific business circumstances of a company in the sector of communications, located in the city of Bogota, Colombia. In conclusion, using this application it was possible to obtain the adequate stock of the products required by the company to provide its services, helping the company reduce its service time, increase the client satisfaction rate, reduce stock which has not been in rotation for a long time, code its inventory, and plan reorder points for the replenishment of stock.Keywords: Demand Forecasting, Empirical Distribution, Propagation of Error.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1837969 Natural Language News Generation from Big Data
Authors: Bastian Haarmann, Lukas Sikorski
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In this paper, we introduce an NLG application for the automatic creation of ready-to-publish texts from big data. The resulting fully automatic generated news stories have a high resemblance to the style in which the human writer would draw up such a story. Topics include soccer games, stock exchange market reports, and weather forecasts. Each generated text is unique. Readyto-publish stories written by a computer application can help humans to quickly grasp the outcomes of big data analyses, save timeconsuming pre-formulations for journalists and cater to rather small audiences by offering stories that would otherwise not exist.
Keywords: Big data, natural language generation, publishing, robotic journalism.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1670968 Financial Portfolio Optimization in Turkish Electricity Market via Value at Risk
Authors: F. Gökgöz, M. E. Atmaca
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Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.Keywords: Electricity market, portfolio optimization, risk management, Sharpe ratio, value at risk.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1043967 Exploring Value of Time, Shopping Behavior and Shopping Motivation of International Tourists in the Chatuchak Weekend Market
Authors: Chanin Yoopetch, Natcha Toemtemsab
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The purpose of this study was to explore the demographic differences of international tourists according to three main factors, including the value of time, shopping behavior and shopping motivation. The Chatuchak Weekend Market is known as one of the biggest weekend markets in the world. Too little academic studies had been conducted in this area of weekend market, despite its growth and continuous development. In general, both domestic visitors and international tourists are attracted to the perception of cheap and bargaining prices the weekend market. However, systematic research study can provide reliable understanding of the perception of the visitors. This study focused on the group of international tourists who visited the market and aimed to provide better insights based on the differences in their demographic factors. Findings indicated that several differences in value of time, shopping behavior, and shopping motivation were identified by gender, income and age. Research implications and directions for further studies were discussed.Keywords: Value of Time, Shopping Behavior, Shopping Motivation, Chatuchak Weekend Market.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2301966 Efficient Frontier - Comparing Different Volatility Estimators
Authors: Tea Poklepović, Zdravka Aljinović, Mario Matković
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Modern Portfolio Theory (MPT) according to Markowitz states that investors form mean-variance efficient portfolios which maximizes their utility. Markowitz proposed the standard deviation as a simple measure for portfolio risk and the lower semi-variance as the only risk measure of interest to rational investors. This paper uses a third volatility estimator based on intraday data and compares three efficient frontiers on the Croatian Stock Market. The results show that range-based volatility estimator outperforms both mean-variance and lower semi-variance model.
Keywords: Variance, lower semi-variance, range-based volatility.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2571965 Choice Experiment Approach on Evaluation of Non-Market Farming System Outputs: First Results from Lithuanian Case Study
Authors: A. Novikova, L. Rocchi, G. Startiene
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Market and non-market outputs are produced jointly in agriculture. Their supply depends on the intensity and type of production. The role of agriculture as an economic activity and its effects are important for the Lithuanian case study, as agricultural land covers more than a half of country. Positive and negative externalities, created in agriculture are not considered in the market. Therefore, specific techniques such as stated preferences methods, in particular choice experiments (CE) are used for evaluation of non-market outputs in agriculture. The main aim of this paper is to present construction of the research path for evaluation of non-market farming system outputs in Lithuania. The conventional and organic farming, covering crops (including both cereal and industrial crops) and livestock (including dairy and cattle) production has been selected. The CE method and nested logit (NL) model were selected as appropriate for evaluation of non-market outputs of different farming systems in Lithuania. A pilot survey was implemented between October–November 2018, in order to test and improve the CE questionnaire. The results of the survey showed that the questionnaire is accepted and well understood by the respondents. The econometric modelling showed that the selected NL model could be used for the main survey. The understanding of the differences between organic and conventional farming by residents was identified. It was revealed that they are more willing to choose organic farming in comparison to conventional farming.
Keywords: Choice experiments, farming system, Lithuania market outputs, non-market outputs.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 587964 Easy Shopping by Electronic Credit
Authors: M. Kargar, A. Isazadeh, F. Fartash, T. Saderi
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In this paper we suggest a method for setting electronic credits for the customers. In this method banks and market-sites help each other to make doing large shopping through internet so easy. By developing this system, the people who have less money to buy most of the things they want, become able to buy all of them just through a credit. This credit is given by market-sites through a banking control on it. The method suggested can stop being imprisoned because of banking debts.Keywords: E-Business, E-Credit, Market-site, Buy-site, Bank, E-Commerce.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1479