Search results for: Georgian wine market
833 System Reliability by Prediction of Generator Output and Losses in a Competitive Energy Market
Authors: Perumal Nallagownden, Ravindra N. Mukerjee, Syafrudin Masri
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In a competitive energy market, system reliability should be maintained at all times. Power system operation being of online in nature, the energy balance requirements must be satisfied to ensure reliable operation the system. To achieve this, information regarding the expected status of the system, the scheduled transactions and the relevant inputs necessary to make either a transaction contract or a transmission contract operational, have to be made available in real time. The real time procedure proposed, facilitates this. This paper proposes a quadratic curve learning procedure, which enables a generator-s contribution to the retailer demand, power loss of transaction in a line at the retail end and its associated losses for an oncoming operating scenario to be predicted. Matlab program was used to test in on a 24-bus IEE Reliability Test System, and the results are found to be acceptable.Keywords: Deregulation, learning coefficients, reliability, prediction, competitive energy market.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1480832 Stock Market Prediction by Regression Model with Social Moods
Authors: Masahiro Ohmura, Koh Kakusho, Takeshi Okadome
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This paper presents a regression model with autocorrelated errors in which the inputs are social moods obtained by analyzing the adjectives in Twitter posts using a document topic model, where document topics are extracted using LDA. The regression model predicts Dow Jones Industrial Average (DJIA) more precisely than autoregressive moving-average models.
Keywords: Regression model, social mood, stock market prediction, Twitter.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2438831 Emergence of New Capitalist Class and Issues of Market, Merit and Social Justice: The Business and Economics of Higher Education in India
Authors: Subramaniam Chandran
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This paper analyses the structural changes in education sector since the introduction of liberalization policy in India. This paper explains how the so-called non-profit trusts and societies appropriated the liberalization policy and enhanced themselves as new capitalist class in higher education sector. Over the decades, the policy witnessed the role of private sector in terms of maintaining market equilibrium. The state also witnessed the incompatibility of the private sector in inculcating the values of social justice. The most important consequence of the policy is to witness the rise of new capitalist class and academic capitalism. When the state came to realize that it no longer cope up with market demands, it opens the entry of private sector in higher education. Concessions and tax exemptions were provided to the trusts and societies to establish higher education institutions. There is a basic difference between western countries and India in providing higher education by the trusts and societies. In western countries the big business houses contributed their surplus revenues to promote higher education and research as a complementary service to society and nation. In India, several entrepreneurs came up with business motive using education sector. Over the period, they accumulated wealth at the cost of students and concessions from the government. Four major results can now be identified: production of manpower in view of market demands; reduction of standards in higher education; bypassing the values of social justice; and the rise of new capitalist class from the business of education. This paper tries to substantiate these issues with the inputs from case studies.Keywords: New capitalism, market, social justice, higher education
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1473830 Employment Promotion and Its Role in Counteracting Unemployment during the Financial Crisis in the USA
Authors: Beata Wentura-Dudek
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In the United States in 2007-2010 before the crisis, the US labour market policy focused mainly on providing residents with unemployment insurance, after the recession this policy changed. The aim of the article was to present quantitative research presenting the most effective labor market instruments contributing to reducing unemployment during the crisis in the USA. The article presents research based on the analysis of available documents and statistical data. The results of the conducted research show that the most effective forms of counteracting unemployment at that time were: direct job creation, job search assistance, subsidized employment, training and employment promotion using new technologies, including social media.
Keywords: United States, financial crisis, unemployment, employment promotion, social media, job creation, training, labour market, employment agencies, lifelong learning, job search assistance, subsidized employment, companies, tax.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 759829 Application of Universal Distribution Factors for Real-Time Complex Power Flow Calculation
Authors: Abdullah M. Alodhaiani, Yasir A. Alturki, Mohamed A. Elkady
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Complex power flow distribution factors, which relate line complex power flows to the bus injected complex powers, have been widely used in various power system planning and analysis studies. In particular, AC distribution factors have been used extensively in the recent power and energy pricing studies in free electricity market field. As was demonstrated in the existing literature, many of the electricity market related costing studies rely on the use of the distribution factors. These known distribution factors, whether the injection shift factors (ISF’s) or power transfer distribution factors (PTDF’s), are linear approximations of the first order sensitivities of the active power flows with respect to various variables. This paper presents a novel model for evaluating the universal distribution factors (UDF’s), which are appropriate for an extensive range of power systems analysis and free electricity market studies. These distribution factors are used for the calculations of lines complex power flows and its independent of bus power injections, they are compact matrix-form expressions with total flexibility in determining the position on the line at which line flows are measured. The proposed approach was tested on IEEE 9-Bus system. Numerical results demonstrate that the proposed approach is very accurate compared with exact method.
Keywords: Distribution Factors, Power System, Sensitivity Factors, Electricity Market.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2630828 Duration Analysis of New Firms in the Banking Industry
Authors: Jesus Orbe, Vicente Nunez-Anton
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This paper studies the duration or survival time of commercial banks active in the Moscovian three month Rouble deposits market, during the 1994-1997 period. The privatization process of the Russian commercial banking industry, after the 1988 banking reform, caused a massive entry of new banks followed by a period of high rates of exit. As a consequence, many firms went bankrupt without refunding their deposits. Therefore, both for the banks and for the banks- depositors, it is of interest to analyze which are the significant characteristics that motivate the exit or the closing of the bank. We propose a different methodology based on penalized weighted least squares which represents a very general, flexible and innovative approach for this type of analysis. The more relevant results are that smaller banks exit sooner, banks that enter the market in the last part of the study have shorter durations. As expected, the more experienced banks have a longer duration in the market. In addition, the mean survival time is lower for banks which offer extreme interest rates.
Keywords: Banking, censored, duration, Kaplan-Meier.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1553827 Branding Good Corporate Governance: A Pathway to Strengthen Investors’ Perception and Brand Equity
Authors: Azaz Zaman, Imtiaz Uddin Chowdhury, Mohammad Shariful Islam
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Corporate governance has become a crucial issue in both the business and academic world as a result of world-wide financial scandals and lack of trust in corporate practices. There is no doubt that in order to thrive and attain growth in the market, a company must earn the trust of its stakeholders by consistently delivering on its commitments. Directors of the companies thus comprehend the importance of upfront communication with relevant stakeholders to increase their confidence. The authors of this article argue that practicing good corporate governance is not enough in this highly competitive market place; corporate leaders need to market their good corporate governance practices in order to make the company more attractive to investors. This article also contends that the strength of corporate governance relies wholly upon the extent to which it is communicated simply, effectively and unceasingly to its stakeholders. The main objective of this study, therefore, is to explore the importance of branding good corporate governance in order to increase corporate brand equity, attract investors, and capture market share. A structured questionnaire comprising three sections and a total of 34 questions was prepared and surveyed by the authors among respondents residing in Bangladesh and who also have an academic and corporate background, to investigate the potential impact of branding good corporate governance in the market place. High mean values for individual questions and overall section depict that communicating and branding good corporate governance to the stakeholders will not only boost the investors’ confidence but also increase the corporate brand equity, yielding both profitable and sustainable business environment.
Keywords: Brand equity, investors’ preference, good corporate governance, sustainable business environment.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1259826 Socio-Economic Insight of the Secondary Housing Market in Colombo Suburbs: Seller’s Point of Views
Authors: R. G. Ariyawansa, M. A. N. R. M. Perera
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“House” is a powerful symbol of socio-economic background of individuals and families. In fact, housing provides all types of needs/wants from basic needs to self-actualization needs. This phenomenon can be realized only having analyzed hidden motives of buyers and sellers of the housing market. Hence, the aim of this study is to examine the socio-economic insight of the secondary housing market in Colombo suburbs. This broader aim was achieved via analyzing the general pattern of the secondary housing market, identifying socio-economic motives of sellers of the secondary housing market, and reviewing sellers’ experience of buyer behavior. A purposive sample of 50 sellers from popular residential areas in Colombo such as Maharagama, Kottawa, Piliyandala, Punnipitiya, and Nugegoda was used to collect primary data instead of relevant secondary data from published and unpublished reports. The sample was limited to selling price ranging from Rs15 million to Rs25 million, which apparently falls into middle and upper-middle income houses in the context. Participatory observation and semi-structured interviews were adopted as key data collection tools. Data were descriptively analyzed. This study found that the market is mainly handled by informal agents who are unqualified and unorganized. People such as taxi/tree-wheel drivers, boutique venders, security personals etc. are engaged in housing brokerage as a part time career. Few fulltime and formally organized agents were found but they were also not professionally qualified. As far as housing quality is concerned, it was observed that 90% of houses was poorly maintained and illegally modified. They are situated in poorly maintained neighborhoods as well. Among the observed houses, 2% was moderately maintained and 8% was well maintained and modified. Major socio-economic motives of sellers were “migrating foreign countries for education and employment” (80% and 10% respectively), “family problems” (4%), and “social status” (3%). Other motives were “health” and “environmental/neighborhood problems” (3%). This study further noted that the secondary middle income housing market in the area directly related with the migrants who motivated for education in foreign countries, mainly Australia, UK and USA. As per the literature, families motivated for education tend to migrate Colombo suburbs from remote areas of the country. They are seeking temporary accommodation in lower middle income housing. However, the secondary middle income housing market relates with the migration from Colombo to major global cities. Therefore, final transaction price of this market may depend on migration related dates such as university deadlines, visa and other agreements. Hence, it creates a buyers’ market lowering the selling price. Also it was revealed that the buyers tend to trust more on this market as far as the quality of construction of houses is concerned than brand new houses which are built for selling purpose.Keywords: Informal housing market, hidden motives of buyers and sellers, secondary housing market, socio-economic insight.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 702825 Unsupervised Text Mining Approach to Early Warning System
Authors: Ichihan Tai, Bill Olson, Paul Blessner
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Traditional early warning systems that alarm against crisis are generally based on structured or numerical data; therefore, a system that can make predictions based on unstructured textual data, an uncorrelated data source, is a great complement to the traditional early warning systems. The Chicago Board Options Exchange (CBOE) Volatility Index (VIX), commonly referred to as the fear index, measures the cost of insurance against market crash, and spikes in the event of crisis. In this study, news data is consumed for prediction of whether there will be a market-wide crisis by predicting the movement of the fear index, and the historical references to similar events are presented in an unsupervised manner. Topic modeling-based prediction and representation are made based on daily news data between 1990 and 2015 from The Wall Street Journal against VIX index data from CBOE.
Keywords: Early Warning System, Knowledge Management, Topic Modeling, Market Prediction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1922824 Design an Electronic Market Framework Using JADE Environment
Authors: Mohammad Ali Tabarzad, Caro Lucas
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The daily growing use of agents in software environments, because of many reasons such as independence and intelligence is not a secret anymore. One of such environments in which there is a prominent job for the agents would be emarketplaces in which a user is able to give those agents the responsibility of buying and selling, instead of searching the emarketplace himself. Making up a framework which has sufficient attention to the required roles and their relations, is the first step of achieving such e-markets. In this paper, we suggest a framework in order to establish such e-markets and we will continue investigating the roles such as seller or buyer and the relations in JADE environment in details.
Keywords: Framework, software agents, e-commerce, e-market.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1445823 Factors for Entry Timing Choices Using Principal Axis Factorial Analysis and Logistic Regression Model
Authors: Mat Isa, C. M., Mohd Saman, H., Mohd Nasir, S. R., Jaapar, A.
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International market expansion involves a strategic process of market entry decision through which a firm expands its operation from domestic to the international domain. Hence, entry timing choices require the needs to balance the early entry risks and the problems in losing opportunities as a result of late entry into a new market. Questionnaire surveys administered to 115 Malaysian construction firms operating in 51 countries worldwide have resulted in 39.1 percent response rate. Factor analysis was used to determine the most significant factors affecting entry timing choices of the firms to penetrate the international market. A logistic regression analysis used to examine the firms’ entry timing choices, indicates that the model has correctly classified 89.5 per cent of cases as late movers. The findings reveal that the most significant factor influencing the construction firms’ choices as late movers was the firm factor related to the firm’s international experience, resources, competencies and financing capacity. The study also offers valuable information to construction firms with intention to internationalize their businesses.
Keywords: Factors, early movers, entry timing choices, late movers, Logistic Regression Model, Principal Axis Factorial Analysis, Malaysian construction firms.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2235822 Valuation of Green Commercial Office Building: A Preliminary Study of Malaysian Valuers’ Insight
Authors: Tuti Haryati Jasimin, Hishamuddin Mohd Ali
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Malaysia’s green building development is gaining momentum and green buildings have become a key focus area, especially within the commercial sector with the encouragement of government legislation and policy. Due to the emerging awareness among the market players’ views of the benefits associated with the ownership of green buildings in Malaysia, there is a need for valuers to incorporate consideration of sustainability into their assessments of property market value to ensure the green buildings continue to increase in the market. This paper analyses the valuers’ current perception on the valuation practices with regard to the green issues in Malaysia. The study was based on a survey of registered real estate valuers and the experts whose work related to valuation in the Klang Valley area to rate their view regarding the perception on valuation of green building. The findings present evidence that even though Malaysian valuers have limited knowledge of green buildings, they recognise the importance of incorporating the green features in the valuation process. The inclusion of incorporating the green features in valuations in practice was hindered by the inadequacy of sufficient transaction data in the market. Furthermore, valuers experienced difficulty in identifying what are the various input parameters of green building and how to adjust it in order to reflect the benefit of sustainability features correctly in the valuation process. This paper focuses on the present challenges confronted by Malaysian valuers with regards to incorporating the green features in their valuation.Keywords: Green commercial office building, Malaysia, valuers’ perception, valuation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2978821 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 2090820 On the Learning of Causal Relationships between Banks in Saudi Equities Market Using Ensemble Feature Selection Methods
Authors: Adel Aloraini
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Financial forecasting using machine learning techniques has received great efforts in the last decide . In this ongoing work, we show how machine learning of graphical models will be able to infer a visualized causal interactions between different banks in the Saudi equities market. One important discovery from such learned causal graphs is how companies influence each other and to what extend. In this work, a set of graphical models named Gaussian graphical models with developed ensemble penalized feature selection methods that combine ; filtering method, wrapper method and a regularizer will be shown. A comparison between these different developed ensemble combinations will also be shown. The best ensemble method will be used to infer the causal relationships between banks in Saudi equities market.
Keywords: Causal interactions , banks, feature selection, regularizere,
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1751819 The Methodology of Out-Migration in Georgia
Authors: Shorena Tsiklauri
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Out-migration is an important issue for Georgia as well as since independence has loosed due to emigration one fifth of its population. During Soviet time out-migration from USSR was almost impossible and one of the most important instruments in regulating population movement within the Soviet Union was the system of compulsory residential registrations, so-called “propiska”. Since independent here was not any regulation for migration from Georgia. The majorities of Georgian migrants go abroad by tourist visa and then overstay, becoming the irregular labor migrants. The official statistics on migration published for this period was based on the administrative system of population registration, were insignificant in terms of numbers and did not represent the real scope of these migration movements. This paper discusses the data quality and methodology of migration statistics in Georgia and we are going to answer the questions: what is the real reason of increasing immigration flows according to the official numbers since 2000s?Keywords: Data quality, Georgia, methodology, out-migration, policy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1914818 Hello Kitty's Popularity and Its Change of Representation
Authors: Miho Tsukamoto
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Since “Hello Kitty” was manufactured in the market in 1974, the manufacturer, Sanrio Co., Ltd. gains high profits not only Kitty’s products but also Kitty license, which gives us a picture of Sanrio’s sales strategy in the global market. Kitty’s history, its products, and Sanrio’s sales strategy are researched in this paper. Comparing it to American Girl, and focusing on KITTYLAB, a type of attraction where you can enjoy games with Kitty, and choose its parts to build your own Kitty, the image of the cultural icon can be altered.
Keywords: American Girl, Change, Kitty, Popularity.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2101817 Business Model Topology in Emerging Business Ecosystem
Authors: Olga Novikova, Timo Vuori
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This paper describes topology of business models in market ecosystem of the emerging electric mobility industry. The business model topology shows that firm-s participation in the ecosystem is associated with different requirements on resources and capabilities, and different levels of risk. Business model concept is used together with concepts of networked value creation and shows that firms can achieve higher levels of sustainable advantage by cooperation, not competition. Hybrid business models provide companies a viable alternative possibility for participation in the market ecosystem.
Keywords: Business model, ecosystem, topology.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2654816 Effective Communication with the Czech Customers 50+ in the Financial Market
Authors: K. Matušínská, H. Starzyczná, M. Stoklasa
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The paper deals with finding and describing of the effective marketing communication forms relating to the segment 50+ in the financial market in the Czech Republic. The segment 50+ can be seen as a great marketing potential in the future but unfortunately the Czech financial institutions haven´t still reacted enough to this fact and they haven´t prepared appropriate marketing programs for this customers´ segment. Demographic aging is a fundamental characteristic of the current European population evolution but the perspective of further population aging is more noticeable in the Czech Republic. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of marketing communication in the financial market, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing communication approach to selected sub-segment at age of 50-60 years is proposed according to marketing research findings.Keywords: Population aging in the Czech Republic, segment 50+, financial services, marketing communication, marketing research, marketing communication approach.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1224815 Investment Trend Analysis of Dhaka Stock Exchange: A Comparative Study
Authors: Azaz Zaman, Mirazur Rahman
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Capital market is a crucial financial market place where companies and the government can raise long-term funds and, at the same time, investors get the opportunity to invest in the listed companies. Capital markets play a vital role not only in shifting the funds from surplus entity to deficit for investment, but also in the overall economic development of any developing country like Bangladesh. Being the first and biggest capital market of Bangladesh, Dhaka Stock Exchange (DSE) is the prime bourse of the country. The differences in the investment preference— among three broad categories of investors in DSE including individual investors, institutional investors, and government— are easily observed. Authors of this article have used five categories of investors such as sponsors or directors of the company, institutional investors, foreign investors, government, and the general public in order to present a comparative analysis of their investment patterns. Obtaining data on the percentage of investment by these five types of investors in different sectors from the DSE website, this study aims to analyze the sector-wise investment preference of these investors using August 2018 data. The study has found that the sponsors or directors of the company have the highest percentage of investment in the textile industry which is close to 16%. The Bangladesh government, as an investor, has the highest percentage of investment in the fuel & power sector, approximately 32%. It has also found that the mutual funds' sector is mostly financed by institutional investors, nearly 28%. Foreign investors have their most investments in the banking sector, which is close to 22%. It has also revealed that the textile sector is mostly financed by the general public, close to 17%. Nevertheless, general public, surprisingly, has the lowest percentage of investment in the telecommunication sector, which is 0.10%.
Keywords: Stock market investment, Dhaka stock exchange, capital market, Bangladesh.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 898814 Dynamic Interrelationship among the Stock Markets of India, Pakistan and United States
Authors: A. Iqbal, N. Khalid, S. Rafiq
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The interrelationship between international stock markets has been a key study area among the financial market researchers for international portfolio management and risk measurement. The characteristics of security returns and their dynamics play a vital role in the financial market theory. This study is an attempt to find out the dynamic linkages among the equity market of USA and emerging markets of Pakistan and India using daily data covering the period of January 2003–December 2009. The study utilizes Johansen (Journal of Economic Dynamics and Control, 12, 1988) and Johansen and Juselius (Oxford Bulletin of Economics and Statistics, 52, 1990) cointegration procedure for long run relationship and Granger-causality tests based on Toda and Yamamoto (Journal of Econometrics, 66, 1995) methodology. No cointegration was found among stock markets of USA, Pakistan and India, while Granger-causality test showed the evidence of unidirectional causality running from New York stock exchange to Bombay and Karachi stock exchanges.Keywords: Causality, Cointegration, India, Pakistan, Stock Markets, US.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2157813 Application of Neural Network in Portfolio Product Companies: Integration of Boston Consulting Group Matrix and Ansoff Matrix
Authors: M. Khajezadeh, M. Saied Fallah Niasar, S. Ali Asli, D. Davani Davari, M. Godarzi, Y. Asgari
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This study aims to explore the joint application of both Boston and Ansoff matrices in the operational development of the product. We conduct deep analysis, by utilizing the Artificial Neural Network, to predict the position of the product in the market while the company is interested in increasing its share. The data are gathered from two industries, called hygiene and detergent. In doing so, the effort is being made by investigating the behavior of top player companies and, recommend strategic orientations. In conclusion, this combination analysis is appropriate for operational development; as well, it plays an important role in providing the position of the product in the market for both hygiene and detergent industries. More importantly, it will elaborate on the company’s strategies to increase its market share related to a combination of the Boston Consulting Group (BCG) Matrix and Ansoff Matrix.
Keywords: Artificial neural network, portfolio analysis, BCG matrix, Ansoff matrix.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1963812 Democratization, Market Liberalization and the Raise of Vested Interests and Its Impacts on Anti-Corruption Reform in Indonesia
Authors: Ahmad Khoirul Umam
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This paper investigates the role of vested interests and its impacts on anti-corruption agenda in Indonesia following the collapse of authoritarian regime in 1998. A pervasive and rampant corruption has been believed as the main cause of the state economy’s fragility. Hence, anti-corruption measures were implemented by applying democratization and market liberalization since the establishment of a consolidated democracy which go hand in hand with a liberal market economy is convinced to be an efficacious prescription for effective anti-corruption. The reform movement has also mandated the establishment of the independent, neutral and professional special anti-corruption agency namely Corruption Eradication Commission (KPK) to more intensify the fight against the systemic corruption. This paper will examine whether these anti-corruption measures have been effective to combat corruption, and investigate to what extend have the anti-corruption efforts, especially those conducted by KPK, been impeded by the emergence of a nexus of vested interests as the side-effect of democratization and market liberalization. Based on interviews with key stakeholders from KPK, other law enforcement agencies, government, prominent scholars, journalists and NGOs in Indonesia, it is found that since the overthrow of Soeharto, anti-corruption movement in the country have become more active and serious. After gradually winning the hearth of people, KPK successfully touched the untouchable corruption perpetrators who were previously protected by political immunity, legal protection and bureaucratic barriers. However, these changes have not necessarily reduced systemic and structural corruption practices. Ironically, intensive and devastating counterattacks were frequently posed by the alignment of business actors, elites of political parties, government, and also law enforcement agencies by hijacking state’s instruments to make KPK deflated, powerless, and surrender. This paper concludes that attempts of democratization, market liberalization and the establishment of anti-corruption agency may have helped Indonesia to reduce corruption. However, it is still difficult to imply that such anti-corruption measures have fostered the more effective anti-corruption works in the newly democratized and weakly regulated liberal economic system.
Keywords: Vested interests, democratization, market liberalization, anti-corruption, leadership.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1160811 A Geospatial Consumer Marketing Campaign Optimization Strategy: Case of Fuzzy Approach in Nigeria Mobile Market
Authors: Adeolu O. Dairo
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Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.
Keywords: Geospatial, geo-analytics, self-organizing map, customer-centric.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 820810 Women Entrepreneurship and Problems in Turkey
Authors: Aykut Bedük, Kemalettin Eryeşil
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Together with the industrialization, women began to be included in business life by peeling off of the tasks given them by society and they have become a factor of production creating value in economic and social sense. Thus, women have taken place in the labor market, majority of which has been formed by men. In this study, the experiences of women entrepreneurs, who succeed in business activities, will be analyzed. By the study, current state of the women entrepreneurs in the labor market of Turkey will be put down, as a result of interferences obtained from the shared experiences of women entrepreneurs. Findings obtained at the end of the study are thought to light the way of future studies for increasing women entrepreneurship.Keywords: Women Entrepreneurship, Entrepreneurship, Turkey.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2046809 Characteristics of the Long-Term Regional Tourism Development in Georgia
Authors: Valeri Arghutashvili, Mari Gogochuri
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Tourism industry development is one of the key priorities in Georgia, as it has positive influence on economic activities. Its contribution is very important for the different regions, as well as for the national economy. Benefits of the tourism industry include new jobs, service development, and increasing tax revenues, etc. The main aim of this research is to review and analyze the potential of the Georgian tourism industry with its long-term strategy and current challenges. To plan activities in a long-term development, it is required to evaluate several factors on the regional and on the national level. Factors include activities, transportation, services, lodging facilities, infrastructure and institutions. The major research contributions are practical estimates about regional tourism development which plays an important role in the integration process with global markets.
Keywords: Regional tourism, tourism industry, tourism in Georgia, tourism benefits.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 865808 Employment Discrimination on Civil Servant Recruitment
Authors: Li Lei, Jia Jidong
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Employment right is linked to the people’s livelihood in our society. As a most important and representative part in the labor market, the employment of public servants is always taking much attention. But the discrimination in the employment of public servants has always existed and, to become a controversy in our society. The paper try to discuss this problem from four parts as follows: First, the employment of public servants has a representative status in our labor market. The second part is about the discrimination in the employment of public servants. The third part is about the right of equality and its significance. The last part is to analysis the legal predicament about discrimination in the employment of public servants in China.
Keywords: Discrimination, Employment of public servants, Right of labor.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2118807 Exploring the Effect of Accounting Information on Systematic Risk: An Empirical Evidence of Tehran Stock Exchange
Authors: Mojtaba Rezaei, Elham Heydari
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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.
Keywords: Accounting information, market risk, systematic risk, efficient market hypothesis, EMH, Tehran Stock Exchange, TSE.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 696806 Agricultural Commodities Volatility in Some Selected Markets in the Northern and Western States in Nigeria
Authors: T. Danjuma, N. M. Ike-Muonso, H. C. Chinwenyi
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The price volatility of agricultural commodities in Nigeria market is very essential and understanding its future evolution is important for informed decision making to policymakers. In this paper, we examined the volatilities of some agricultural commodities such as maize (white), cowpeas (brown) and sorghum (white) in Mubi and Dawanau markets in the Northern part of the country and compared its volatilities with the same agricultural commodities from Lagos and Ibadan markets in the Western part of Nigeria.
Keywords: Agricultural commodity, agricultural market, derivatives, volatility, price.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 64805 The Study of Biodiversity of Thirty Two Families of Useful Plants Existed in Georgia
Authors: Kacharava Tamar, Korakhashvili Avtandil, Epitashvili Tinatin
Abstract:
The article deals with the database, which was created by the authors, related to biodiversity of some families of useful plants (medicinal, aromatic, spices, dye and poisonous) existing in Georgia considering important taxonomy. Our country is also rich with endemic genera. The results of monitoring of the phytogenetic resources to reveal perspective species and situation of endemic species and resources are also discussed in this paper. To get some new medicinal and preventive treatments using plant raw material in the phytomedicine, phytocosmetics and phytoculinary, the unique phytogenetic resources should be protected because the application of useful plants is becoming irreversible. This can be observed along with intensification and sustainable use of ethnobotanical traditions and promotion of phytoproduction based on the international requirements on biodiversity (Convention on Biological Diversity - CBD). Though Georgian phytopharmacy has the centuries-old traditions, today it is becoming the main concern.
Keywords: Aromatic, medicinal, poisonous, spicy, dye plants, endemic biodiversity, endemic, ELISA, GIS.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 870804 The influence of Local Export Externalities and Firm International Experience on Export Performance
Authors: Isabel Díez Vial, Marta Fernández Olmoss
Abstract:
This research tries to analyze the role that knowledge about foreign markets has in increasing firms- exports in clustered spaces. We consider two interrelated sources of knowledge: firms- direct experience and indirect experience from other clustered firms – export externalities. In particular, it is proposed that firms would improve their export performance by accessing to export externalities if they have some previous direct experience that allows them to identify, understand and exploit them. Also, we propose that this positive influence of previous direct experience on export externalities keeps only up to a point, where it becomes negative, creating an inverted “U" shape. Empirical evidence gathered among wine producers located in La Rioja tends to confirm that firms enjoy of export externalities if they have export experience along several years and countries increase their export performance. While this relationship becomes less relevant as they develop a higher experience, we could not confirm the existence of a curvilinear relationship in their influence on export externalities and export performance.Keywords: Clusters, curvilinear relationship, absorptive capacity
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