Search results for: Stock Market Decisions

Authors: Martha E. Ikome, John M. Ikome

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Intellectual property should be a day-to-day business decision due to its value, but increasingly, a number of institution are still not aware of the importance. Intellectual Property (IP) and its value are often not adequately appreciated. In the increasingly knowledge-driven economy, IP is a key consideration in day-to-day business decisions because new ideas and products appear almost daily in the market, which results in continuous innovation and research. Therefore, this paper will focus on the importance of IP for universities of technology and also further demonstrates how IP can become an economic tool and the challenges faced by these universities in implementing an IP system.

Keywords: Intellectual property, institutions, challenges, protection.

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Authors: W. Hou, X. Shan, X. Ye

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Bidding is a very important business function to find latent contractors of construction projects. Moreover, bid markup is one of the most important decisions for a bidder to gain a reasonable profit. Since the bidding system is a complex adaptive system, bidding agent need a learning process to get more valuable knowledge for a bid, especially from past public bidding information. In this paper, we proposed an iterative agent leaning model for bidders to make markup decisions. A classifier for public bidding information named PIBS is developed to make full use of history data for classifying new bidding information. The simulation and experimental study is performed to show the validity of the proposed classifier. Some factors that affect the validity of PIBS are also analyzed at the end of this work.

Keywords: bidding markup, decision making, agent learning, information similarity.

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Authors: H. C. Chinwenyi, H. D. Ibrahim, F. A. Ahmed

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In modern financial mathematics, valuing derivatives such as options is often a tedious task. This is simply because their fair and correct prices in the future are often probabilistic. This paper examines three different Stochastic Differential Equation (SDE) models in finance; the Constant Elasticity of Variance (CEV) model, the Balck-Karasinski model, and the Heston model. The various Martingales option price valuation formulas for these three models were obtained using the replicating portfolio method. Also, the numerical solution of the derived Martingales options price valuation equations for the SDEs models was carried out using the Monte Carlo method which was implemented using MATLAB. Furthermore, results from the numerical examples using published data from the Nigeria Stock Exchange (NSE), all share index data show the effect of increase in the underlying asset value (stock price) on the value of the European Put Option for these models. From the results obtained, we see that an increase in the stock price yields a decrease in the value of the European put option price. Hence, this guides the option holder in making a quality decision by not exercising his right on the option.

Keywords: Equivalent Martingale Measure, European Put Option, Girsanov Theorem, Martingales, Monte Carlo method, option price valuation, option price valuation formula.

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Authors: Libena Cernohorska, Veronika Linhartova, Michal Sinka, Petr Teply

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The term private equity usually refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. Some researchers believe that private equity contributed to the extent of the crisis and increased the pace of its spread over the world. We do not agree with this. On the other hand, we argue that during the economic recession private equity might become an important source of funds for firms with special needs (e.g. for firms seeking buyout financing, venture capital, expansion capital or distress debt financing). However, over-regulation of private equity in both the European Union and the US can slow down this specific funding channel to the economy and deepen credit crunch during global crises.

Keywords: scredit lunch, distress debt, global crisis, private equity, regulation

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Authors: Shigeaki Sakurai, Youichi Kitahata, Ryohei Orihara

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This paper proposes a method that discovers sequential patterns corresponding to user-s interests from sequential data. This method expresses the interests as constraint patterns. The constraint patterns can define relationships among attributes of the items composing the data. The method recursively decomposes the constraint patterns into constraint subpatterns. The method evaluates the constraint subpatterns in order to efficiently discover sequential patterns satisfying the constraint patterns. Also, this paper applies the method to the sequential data composed of stock price indexes and verifies its effectiveness through comparing it with a method without using the constraint patterns.

Keywords: Sequential pattern mining, Constraint pattern, Attribute constraint, Stock price indexes

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Authors: Dezie L. Warganegara, Dewi Tamara

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The objectives of this study is to investigate the existence of the sticky cost behavior of firms listed in the Indonesia Stock Exchange (IDX) and to find evidence on the effects of sticky operating expenses (SG&A expenses) on profitability of firms. For the first objective, this study finds that the sticky cost behavior does exist. For the second objective, this study finds that the stickier the operating expenses the lesser future profitability of the firms. This study concludes that sticky cost affects negatively to the performance and, therefore, firms should include flexibility in designing the cost structure of their firms.

Keywords: Operating Expenses, Profitability, SG&A, Sticky Costs, Indonesia Stock Exchange (IDX).

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Authors: Abbas Al-Refaie, Nour Bata

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A distributor of Apple products' experiences numerous difficulties in developing marketing strategies for new and existing mobile product entries that maximize customer satisfaction and the firm's profitability. This research, therefore, integrates market segmentation in platform-based product family design and conjoint analysis to identify iSystem combinations that increase customer satisfaction and business profits. First, the enhanced market segmentation grid is created. Then, the estimated demand model is formulated. Finally, the profit models are constructed then used to determine the ideal product family design that maximizes profit. Conjoint analysis is used to explore customer preferences with their satisfaction levels. A total of 200 surveys are collected about customer preferences. Then, simulation is used to determine the importance values for each attribute. Finally, sensitivity analysis is conducted to determine the product family design that maximizes both objectives. In conclusion, the results of this research shall provide great support to Apple distributors in determining the best marketing strategies that enhance their market share.

Keywords: Market segmentation, conjoint analysis, market strategies, optimization.

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Authors: A. J. Regan, F. J. Lidgey, M. Betteridge, P. Georgiou, C. Toumazou, K. Hayatleh, J. R. Dibble

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Our goal is development of an algorithm capable of predicting the directional trend of the Standard and Poor’s 500 index (S&P 500). Extensive research has been published attempting to predict different financial markets using historical data testing on an in-sample and trend basis, with many authors employing excessively complex mathematical techniques. In reviewing and evaluating these in-sample methodologies, it became evident that this approach was unable to achieve sufficiently reliable prediction performance for commercial exploitation. For these reasons, we moved to an out-ofsample strategy based on linear regression analysis of an extensive set of financial data correlated with historical closing prices of the S&P 500. We are pleased to report a directional trend accuracy of greater than 55% for tomorrow (t+1) in predicting the S&P 500.

Keywords: Financial algorithm, GPU, S&P 500, stock market prediction.

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Authors: M. A. Elbagermia, A. I. Alajtala, M. Alkerzab

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This study compares the quality of different brands of Portland Cement (PC) available in Libyan market. The amounts of chemical constituents like SiO2, Al2O3, Fe2O3, CaO, MgO, SO3 and Lime Saturation Factor (LSF) were determined in accordance with Libyan (L.S.S) and Amrican (A.S.S) Standard Specifications. All the cement studies were found to be good for concrete work especially where no special property is required. The chemical and mineralogical analyses for studied clinker samples show that the dominant phases composition are C3S and C2S while the C3A and C4AF are less abundant.

Keywords: Portland cement, Chemical Composition, Libyan market, X-ray fluorescence.

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Authors: K. Hardy, A. Maurushat

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Policy makers are increasingly looking to make evidence-based decisions. Evidence-based decisions have historically used rigorous methodologies of empirical studies by research institutes, as well as less reliable immediate survey/polls often with limited sample sizes. As we move into the era of Big Data analytics, policy makers are looking to different methodologies to deliver reliable empirics in real-time. The question is not why did these people do this for the last 10 years, but why are these people doing this now, and if the this is undesirable, and how can we have an impact to promote change immediately. Big data analytics rely heavily on government data that has been released in to the public domain. The open data movement promises greater productivity and more efficient delivery of services; however, Australian government agencies remain reluctant to release their data to the general public. This paper considers the barriers to releasing government data as open data, and how these barriers might be overcome.

Keywords: Big data, open data, productivity, transparency.

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Authors: Yessengeldy Kuanyshpayev

Abstract:

Now in some countries of the world the cellular market is on the point of saturation, in others - positive dynamics of development kept on. The reasons for it are also different, but there are united by their general susceptibility to innovation changes, if they are really innovative. If to take as an example the cellular market of Kazakhstan it is defined by the low percent of smart phones at consumers, the low population density, undercapacity of the 3G channel, and absence of universal access to the LTE technology that limits dynamical growth of this branch. These moments are aggravated by failures of starting commercial projects by private companies which prevent to be implemented and widely adopted to a new product among consumers. The object of the research is possible integration of wireless and program technologies at which introduction the idea can regenerate in an innovation. The analysis of existing projects in the market and the possible union of the technologies through a prism of theoretical bases of innovative activity shows that efficiency of the company by development and introduction of innovations is possible only thanks to strict observance of all terms and conditions of the innovative process which main term is profit. Despite that fact that on a global scale the innovativeness issue of companies is very popular, there are no researches about possibility of innovative breaks in the field of wireless access to the Internet in the cellular market of Kazakhstan.

Keywords: Cellular market, commercialization, innovation, the effectiveness of company.

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Authors: Azwadi Ali

Abstract:

The survival of publicly listed companies largely depends on their stocks being liquidly traded. This goal can be achieved when new investors are attracted to invest on companies- stocks. Among different groups of investors, individual investors are generally less able to objectively evaluate companies- risks and returns, and tend to be emotionally biased in their investing decisions. Therefore their decisions may be formed as a result of perceived risks and returns, and influenced by companies- images. This study finds that perceived risk, perceived returns and trust directly affect individual investors- trading decisions while attitude towards brand partially mediates the relationships. This finding suggests that, in courting individual investors, companies still need to perform financially while building a good image can result in their stocks being accepted quicker than the stocks of good performing companies with hidden images.

Keywords: Behavioral Finance, Investment, Attitude towardsBrand, Partial Least Squares

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Authors: Kepeng Li

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This paper examines the phenomenon of recidivism in the Chinese stock market, emphasizing the significance of mitigating repeat offences within the corporate domain. Using a contingency model and data from Chinese publicly listed companies (1999-2018), the study investigates the impact of underperformance, governance factors, and managerial traits on unethical conduct. The research suggests that persistently unmet economic objectives can foster problem-focused exploration, potentially leading to misconduct. Furthermore, the study considers the unique cultural context of China, where “guanxi” and corruption may influence corporate behavior. It concludes that governance mechanisms play a pivotal role in regulating corporate behavior, underscoring the necessity for enhanced oversight and enforcement of corporate governance standards.

Keywords: Recidivism, corporate misbehavior, BTOF, aspiration level, corporate governance, individual characteristics.

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Authors: Naveen Virmani, Rajeev Saha, Rajeshwar Sahai

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In today’s market, striving hard has become necessary for the industries to survive due to the intense competition and globalization. In earlier days, there were few sellers and limited numbers of buyers, so customers were having fewer options to buy the product. But today, the market is highly competitive and volatile. Industries are focusing on robotics, advance manufacturing methods like AJM (Abrasive Jet Machining), EDM (Electric Discharge Machining), ECM (Electrochemical Machining) etc., CAD/CAM, CAE to make quality products and market them in shortest possible time. Leagile manufacturing system is ensuring best available solution at minimum cost to meet the market demand. This paper tries to assimilate the concept of Leagile manufacturing system in today’s scenario and evaluating key factors affecting Leagile manufacturing using digraph technique.

Keywords: Agile manufacturing, digraph, lean manufacturing, leagile manufacturing.

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Authors: Bita Mashayekhi, Zeynab Lotfi Aghel

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The determinants of Earnings Response Coefficient (ERC), including firm size, earnings growth, and earnings persistence are studied in this research. These determinants are supposed to be moderator variables that affect ERC and Return Response Coefficient. The research sample contains 82 Iranian listed companies in Tehran Stock Exchange (TSE) from 2001 to 2012. Gathered data have been processed by EVIEWS Software. Results show a significant positive relation between firm size and ERC, and also between earnings growth and ERC; however, there is no significant relation between earnings persistence and ERC. Also, the results show that ERC will be increased by firm size and earnings growth, but there is no relation between earnings persistence and ERC.

Keywords: Earnings response coefficient, return response coefficient, firm size, earnings growth, earnings persistence.

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Authors: K. Balamurugan, R. Muralisachithanandam, V. Dharmalingam, R. Srikanth

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This paper deals with the optimal choice and allocation of multi FACTS devices in Deregulated power system using Evolutionary Programming method. The objective is to achieve the power system economic generation allocation and dispatch in deregulated electricity market. Using the proposed method, the locations of the FACTS devices, their types and ratings are optimized simultaneously. Different kinds of FACTS devices are simulated in this study such as UPFC, TCSC, TCPST, and SVC. Simulation results validate the capability of this new approach in minimizing the overall system cost function, which includes the investment costs of the FACTS devices and the bid offers of the market participants. The proposed algorithm is an effective and practical method for the choice and allocation of FACTS devices in deregulated electricity market environment. The standard data of IEEE 14 Bus systems has been taken into account and simulated with aid of MAT-lab software and results were obtained.

Keywords: FACTS devices, Optimal allocation, Deregulated electricity market, Evolutionary programming, Mat Lab.

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Authors: L. Feleagă, M. Dumitrașcu, N. Feleagă

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This article is a research on corporate governance. The aim of the study is to focus a special attention on the importance of corporate social responsibility and corporate governance, which are relevant, indeed necessary, for organizations. In this regard, we analyzed the corporate social responsibility in the context of corporate governance for companies listed on Bucharest and Bombay Stock Exchange. Therefore, we bring into the spotlight some differences between India and Romania linked with the importance ascribed to corporate social responsibility of a company. We presented the results of the demarche and we concluded suggestions regarding further research in this area. The study increases the awareness, identifies and articulates desirable behaviors, which are not intended to be exhaustive.

Keywords: Corporate governance, corporate social responsibility, disclosure, listed companies.

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Authors: Tomáš Ludík, Josef Navrátil

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Managing the emergency situations at the Emergency Staff requires a high co-operation between its members and their fast decision making. For these purpose it is necessary to prepare Emergency Staff members adequately. The aim of this paper is to describe the development of information support that focuses to emergency staff processes and effective decisions. The information support is based on the principles of process management, and Process Framework for Emergency Management was used during the development. The output is the information system that allows users to simulate an emergency situation, including effective decision making. The system also evaluates the progress of the emergency processes solving by quantitative and qualitative indicators. By using the simulator, a higher quality education of specialists can be achieved. Therefore, negative impacts resulting from arising emergency situations can be directly reduced.

Keywords: Information Support for Emergency Staff, Effective Decisions, Process Framework, Simulation of Emergency Processes, System Development.

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Authors: Christina Babatsou, Efthimios Zervas

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Since 2008 a new economic crisis is present is the entire planet. This crisis affects several domains of the economic but also of the social life. Consumption decreases due to the lack of necessary resources of households to increase their expenditures. The car manufacturing is one of the main industrial activities in European Union (EU) and the present crisis particularly affects it. The present study examines the correlations between several socio-economic indicators and car market in European Union. The target is to find out the impact of the present economic crisis on the car market in EU.

Keywords: European Union, Passenger cars, Social indicators, Correlations

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Authors: A. K. Abdel-Fattah, A. B. El-Tawil, N. A. Harraz

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This paper focuses on the operational and strategic planning decisions related to the quayside of container terminals. We introduce an integrated operational research (OR) and system dynamics (SD) approach to solve the Berth Allocation Problem (BAP) and the Quay Crane Assignment Problem (QCAP). A BAP-QCAP optimization modeling approach which considers practical aspects not studied before in the integration of BAP and QCAP is discussed. A conceptual SD model is developed to determine the long-term effect of optimization on the system behavior factors like resource utilization, attractiveness to port, number of incoming vessels to port and port profits. The framework can be used for improving the operational efficiency of container terminals and providing a strategic view after applying optimization.

Keywords: Operational research, system dynamics, container terminal, quayside operational problems, strategic planning decisions.

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Authors: H. Ahmed, A. Persson, L. Sundqvist, B. Biorkman

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Numerous amounts of metallurgical dusts and sludge containing iron as well as some other valuable elements such as Zn, Pb and C are annually produced in the steelmaking industry. These alternative iron ore resources (fines) with unsatisfying physical and metallurgical properties are difficult to recycle. However, agglomerating these fines to be further used as a feed stock for existing iron and steelmaking processes is practiced successfully at several plants but for limited extent.

In the present study, briquettes of integrated steelmaking industry waste materials (namely, BF-dust and sludge, BOF-dust and sludge) were used as feed stock to produce direct reduced iron (DRI). Physical and metallurgical properties of produced briquettes were investigated by means of TGA/DTA/QMS in combination with XRD. Swelling, softening and melting behavior were also studied using heating microscope.

Keywords: Iron and Steel Wastes, Recycling, Self-Reducing Briquettes, Thermogravimetry.

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Authors: Kari Björn

Abstract:

Introduction of games has expanded the application area of computer-aided learning tools to wide variety of age groups of learners. Serious games engage the learners into a real-world -type of simulation and potentially enrich the learning experience. Institutional background of a Bachelor’s level engineering program in Information and Communication Technology is introduced, with detailed focus on one of its majors, Health Technology. As part of a Customer Oriented Software Application thematic semester, one particular course of “eHealth Business and Solutions” is described and reflected in a gamified framework. Learning a consistent view into vast literature of business management, strategies, marketing and finance in a very limited time enforces selection of topics relevant to the industry. Health Technology is a novel and growing industry with a growing sector in consumer wearable devices and homecare applications. The business sector is attracting new entrepreneurs and impatient investor funds. From engineering education point of view the sector is driven by miniaturizing electronics, sensors and wireless applications. However, the market is highly consumer-driven and usability, safety and data integrity requirements are extremely high. When the same technology is used in analysis or treatment of patients, very strict regulatory measures are enforced. The paper introduces a course structure using gamification as a tool to learn the most essential in a new market: customer value proposition design, followed by a market entry game. Students analyze the existing market size and pricing structure of eHealth web-service market and enter the market as a steering group of their company, competing against the legacy players and with each other. The market is growing but has its rules of demand and supply balance. New products can be developed with an R&D-investment, and targeted to market with unique quality- and price-combinations. Product cost structure can be improved by investing to enhanced production capacity. Investments can be funded optionally by foreign capital. Students make management decisions and face the dynamics of the market competition in form of income statement and balance sheet after each decision cycle. The focus of the learning outcome is to understand customer value creation to be the source of cash flow. The benefit of gamification is to enrich the learning experience on structure and meaning of financial statements. The paper describes the gamification approach and discusses outcomes after two course implementations. Along the case description of learning challenges, some unexpected misconceptions are noted. Improvements of the game or the semi-gamified teaching pedagogy are discussed. The case description serves as an additional support to new game coordinator, as well as helps to improve the method. Overall, the gamified approach has helped to engage engineering student to business studies in an energizing way.

Keywords: Engineering education, integrated curriculum, learning experience, learning outcomes.

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Authors: Sahar Modirzadehbami, Gholamreza Mansourfar

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Different types of Islamic debts have been increasingly utilized as preferred means of debt funding by Malaysian private firms in recent years. This study examines the impact of Islamic debts announcement on private firms- stock returns. Our sample includes forty five listed companies on Bursa Malaysia involved in issuing of Islamic debts during 2005 to 2008. The abnormal returns and cumulative average abnormal returns are calculated and tested using standard event study methodology. The results show that a significant, negative abnormal return occurs one day before announcement date. This negative abnormal return is representing market participant-s adverse attitude toward Islamic private debt announcement during the research period.

Keywords: Announcement effect, Event study, Islamic debts, Malaysia, Sukuk

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Authors: Jianfeng Li, Feng Jin, Xiaoyu Yang

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This paper applies fuzzy clustering algorithm in classifying real estate companies in China according to some general financial indexes, such as income per share, share accumulation fund, net profit margins, weighted net assets yield and shareholders' equity. By constructing and normalizing initial partition matrix, getting fuzzy similar matrix with Minkowski metric and gaining the transitive closure, the dynamic fuzzy clustering analysis for real estate companies is shown clearly that different clustered result change gradually with the threshold reducing, and then, it-s shown there is the similar relationship with the prices of those companies in stock market. In this way, it-s great valuable in contrasting the real estate companies- financial condition in order to grasp some good chances of investment, and so on.

Keywords: Fuzzy clustering algorithm, data mining, real estate company, financial analysis.

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Authors: P. Kanakasabapathy, Radhika. S,

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In the competitive electricity market environment, the profit of the pumped-storage plant in the energy market can be maximized by operating it as a generator, when market clearing price is high and as a pump, to pump water from lower reservoir to upper reservoir, when the price is low. An optimal self-scheduling plan has been developed for a pumped-storage plant, carried out on weekly basis in order to maximize the profit of the plant, keeping into account of all the major uncertainties such as the sudden ancillary service delivery request and the price forecasting errors. For a pumped storage power plant to operate in a real time market successive self scheduling has to be done by considering the forecast of the day-ahead market and the modified reservoir storage due to the ancillary service request of the previous day. Sliding Window Technique has been used for successive self scheduling to ensure profit for the plant.

Keywords: Ancillary services, BPSO, Power System Economics (Electricity markets), Self-Scheduling, Sliding Window Technique.

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Authors: S. M. Seyedhosseini, A. Makui, M. Ghadami

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Globalization and therefore increasing tight competition among companies, have resulted to increase the importance of making well-timed decision. Devising and employing effective strategies, that are flexible and adaptive to changing market, stand a greater chance of being effective in the long-term. In other side, a clear focus on managing the entire product lifecycle has emerged as critical areas for investment. Therefore, applying wellorganized tools to employ past experience in new case, helps to make proper and managerial decisions. Case based reasoning (CBR) is based on a means of solving a new problem by using or adapting solutions to old problems. In this paper, an adapted CBR model with k-nearest neighbor (K-NN) is employed to provide suggestions for better decision making which are adopted for a given product in the middle of life phase. The set of solutions are weighted by CBR in the principle of group decision making. Wrapper approach of genetic algorithm is employed to generate optimal feature subsets. The dataset of the department store, including various products which are collected among two years, have been used. K-fold approach is used to evaluate the classification accuracy rate. Empirical results are compared with classical case based reasoning algorithm which has no special process for feature selection, CBR-PCA algorithm based on filter approach feature selection, and Artificial Neural Network. The results indicate that the predictive performance of the model, compare with two CBR algorithms, in specific case is more effective.

Keywords: Case based reasoning, Genetic algorithm, Groupdecision making, Product management.

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Authors: Ioannis P. Panapakidis, Marios N. Moschakis

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The Greek Energy Market is structured as a mandatory pool where the producers make their bid offers in day-ahead basis. The System Operator solves an optimization routine aiming at the minimization of the cost of produced electricity. The solution of the optimization problem leads to the calculation of the System Marginal Price (SMP). Accurate forecasts of the SMP can lead to increased profits and more efficient portfolio management from the producer`s perspective. Aim of this study is to provide a comparative analysis of various machine learning models such as artificial neural networks and neuro-fuzzy models for the prediction of the SMP of the Greek market. Machine learning algorithms are favored in predictions problems since they can capture and simulate the volatilities of complex time series.

Keywords: Deregulated energy market, forecasting, machine learning, system marginal price, energy efficiency and quality.

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Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the nonfinancial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: Banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation.

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Authors: Andrea Bellucci, Martina Tofi

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The aim of paper is to analyze business models of bancassurance in Italy for life business. The life insurance business is very developed in the Italian market and banks branches have 80% of the market share. Given its maturity, the life insurance market needs to consolidate its organizational form to allow for the development of non-life business, which nowadays collects few premiums but represents a great opportunity to enlarge the market share of bancassurance using its strength in the distribution channel while the market share of independent agents is decreasing. Starting with the main business model of bancassurance for life business, this paper will analyze the performances of life companies in the Italian market by balance sheet indicators and by main discriminant variables of business models. The study will observe trends from 2013 to 2015 for the Italian market by exploiting a database managed by Associazione Nazionale delle Imprese di Assicurazione (ANIA). The applied approach is based on a bottom-up analysis starting with variables and indicators to define business models’ classification. The statistical classification algorithm proposed by Ward is employed to design business models’ profiles. Results from the analysis will be a representation of the main business models built by their profile related to indicators. In that way, an unsupervised analysis is developed that has the limit of its judgmental dimension based on research opinion, but it is possible to obtain a design of effective business models.

Keywords: Balance sheet indicators, Bancassurance, business models, ward algorithm.

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Authors: Eulálio G. Campelo F., Wolffried Stucky

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The paper introduces and discusses definitions and concepts from the supplier relationship management area. This review has the goal to provide readers with the basic conditions to understand the market mechanisms and the technological developments of the SRM market. Further on, the work gives a picture of the actual business environment in which the SRM vendors are in, and the main trends in the field, based on the main SRM functionalities i.e. e-Procurement, e-Sourcing and Supplier Enablement, which indicates users and software providers the future technological developments and practises that will take place in this area in the next couple of years.

Keywords: Supplier Relationship Management, e-Procurement, e-Sourcing, Supplier Enablement.

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