Search results for: Corporate governance index

Authors: Umar Ubandawaki

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Political participation involves voluntary and deliberate efforts by the members of a political system to determine the kinds of political institution and individuals that will govern them and equally influence the mobilization and allocation of the available societal resources. Over the years, youths in Nigeria participate actively in political party rallies and voting to elect their leaders and representatives in governance. This paper examines categories and nature of participation in politics as well as factors that drive youths into politics in Sokoto State. A survey conducted, through focus group discussions, interviews and questionnaire, in the six sampled Local Government of Sokoto State identifies three category of political participation; namely, active, moderate and apathetic participation. The findings reveal that 63.57% of respondents are apathetic to politics in the State and unemployed youth constitutes 34.74% of the entire responses. The paper establishes that lack of attainment of need (63.22%) is one of the reasons that make youths engage into participatory activities that encourage political thuggery and manipulation of electoral outcomes. The paper recommends that youths should be engaged into positive rational participatory activities that ensure inclusiveness and promotion of good governance in Nigeria. It is hoped that this will enlighten youths and policy implementers on the constructive strategies in controlling youths’ negative participation in politics in Nigeria.

Keywords: Democracy, Governance, Inclusiveness, Participation and Politics.

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Authors: Hoda Zolfagharnejad, Behnam Kamkar, Omid Abdi

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Crop coefficient (Kc) is an important factor contributing to estimation of evapotranspiration, and is also used to determine the irrigation schedule. This study investigated and determined the monthly Kc of winter wheat (Triticum aestivum L.) using five vegetation indices (VIs): Normalized Difference Vegetation Index (NDVI), Difference Vegetation Index (DVI), Soil Adjusted Vegetation Index (SAVI), Infrared Percentage Vegetation Index (IPVI), and Ratio Vegetation Index (RVI) of four basins in Golestan province, Iran. 14 Landsat-8 images according to crop growth stage were used to estimate monthly Kc of wheat. VIs were calculated based on infrared and near infrared bands of Landsat 8 images using Geographical Information System (GIS) software. The best VIs were chosen after establishing a regression relationship among these VIs with FAO Kc and Kc that was modified for the study area by the previous research based on R² and Root Mean Square Error (RMSE). The result showed that local modified SAVI with R²= 0.767 and RMSE= 0.174 was the best index to produce monthly wheat Kc maps.

Keywords: Crop coefficient, remote sensing, vegetation indices, wheat.

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Authors: A. Zeynolabedin, M. A. Olyaei, B. Ghiasi

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Drought is an inevitable part of the earth’s climate. It occurs regularly with no clear warning and without recognizing borders. In addition, its impact is cumulative and not immediately discernible. Iran is located in a semi-arid region where droughts occur periodically as natural hazard. Standardized Precipitation Index (SPI), Surface Water Supply Index (SWSI), and Palmer Drought Severity Index (PDSI) are three well-known indices which describe drought severity; each has its own advantages and disadvantages and can be used for specific types of drought. These indices take into account some factors such as precipitation, reservoir storage and discharge, temperature, and potential evapotranspiration in determining drought severity. In this paper, first all three indices are calculated in Aharchay river watershed located in northwestern part of Iran in East Azarbaijan province. Next, based on two other important parameters which are groundwater level and solar radiation, two new indices are defined. Finally, considering all five aforementioned indices, a combined drought index (CDI) is presented and calculated for the region. This combined index is based on all the meteorological, hydrological, and agricultural features of the region. The results show that the most severe drought condition in Aharchay watershed happened in Jun, 2004. The result of this study can be used for monitoring drought and prepare for the drought mitigation planning.

Keywords: Drought, index variation, regional assessment, monitoring.

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Authors: Gaysu R. Arvind

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In policy discourse of 1990s, more inclusive spaces have been constructed for realizing full and meaningful participation of common people in education. These participatory spaces provide an alternative possibility for universalizing elementary education against the backdrop of a history of entrenched forms of social and economical exclusion; inequitable education provisions; and shrinking role of the state in today-s neo-liberal times. Drawing on case-studies of bottom-up approaches to school governance, the study examines an array of innovative ways through which poor people gained a sense of identity and agency by evolving indigenous solutions to issues regarding schooling of their children. In the process, state-s institutions and practices became more accountable and responsive to educational concerns of the marginalized people. The deliberative participation emerged as an active way of experiencing deeper forms of empowerment and democracy than its passive realization as mere bearers of citizen rights.

Keywords: Deliberative Forum, Inclusive Spaces, Participatory Governance, People's Agency

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Authors: Ti-An Tsai, Chun-Chih Wang, Hung-Wen Wang, I-Ling Chang, Lien-Wen Chen

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In this study, we demonstrate a high-resolution refractive index sensor based on a Magnetic Photonic Crystal (MPC) composed of a triangular lattice array of air holes embedded in Si matrix. A microcavity is created by changing the radius of an air hole in the middle of the photonic crystal. The cavity filled with gyrotropic materials can serve as a refractive index sensor. The shift of the resonant frequency of the sensor is obtained numerically using finite difference time domain method under different ambient conditions having refractive index from n = 1.0 to n = 1.1. The numerical results show that a tiny change in refractive index of  Δn = 0.0001 is distinguishable. In addition, the spectral response of the MPC sensor is studied while an external magnetic field is present. The results show that the MPC sensor exhibits a dramatic improvement in resolution.

Keywords: Magnetic photonic crystal, refractive index sensor, sensitivity, high-resolution.

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Authors: Petr Teply

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While the form of crises may change, their essence remains the same (such as a cycle of abundant liquidity, rapid credit growth, and a low-inflation environment followed by an asset-price bubble). The current market turbulence began in mid-2000s when the US economy shifted to imbalanced both internal and external macroeconomic positions. We see two key causes of these problems – loose US monetary policy in early 2000s and US government guarantees issued on the securities by government-sponsored enterprises what was further fueled by financial innovations such as structured credit products. We have discovered both negative and positive lessons deriving from this crisis and divided the negative lessons into three groups: financial products and valuation, processes and business models, and strategic issues. Moreover, we address key risk management lessons and exit strategies derived from the current crisis and recommend policies that should help diminish the negative impact of future potential crises.

Keywords: exist strategy, global crisis, risk management, corporate governance

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Authors: Raziah Bi Mohamed Sadique, Jamal Roudaki, Murray B. Clark, Norhayati Alias

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Economic crime (i.e. corporate fraud) has a significant impact on business. This study analyzes the fraud cases reported by the Malaysian Securities Commission. Frauds involving market manipulation and/or illegal share trading are the most common types of fraud reported over the 6 years analyzed. The highest number of frauds reported involved investment and fund holding companies. Alarmingly the results indicate quite a high number of frauds cases are committed by management. The higher number of Chinese perpetrators may be due to fact that they are the dominant group in Malaysian business. The result also shows that more than half of companies involved with fraud are privately held companies in the investment/fund/finance sector. The results of this study highlight general characteristic of perpetrators (person and company) that commit fraud which could help the regulators in their monitoring and enforcement activities. To investors, this would help in analyzing their business investment or portfolio risk.

Keywords: Corporate fraud, economic crime, fraudcharacteristic, perpetrators

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Authors: Hanan A. M. Abd Alla, Lilac A. E. Al-Safadi

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In this paper, a novel multi join algorithm to join multiple relations will be introduced. The novel algorithm is based on a hashed-based join algorithm of two relations to produce a double index. This is done by scanning the two relations once. But instead of moving the records into buckets, a double index will be built. This will eliminate the collision that can happen from a complete hash algorithm. The double index will be divided into join buckets of similar categories from the two relations. The algorithm then joins buckets with similar keys to produce joined buckets. This will lead at the end to a complete join index of the two relations. without actually joining the actual relations. The time complexity required to build the join index of two categories is Om log m where m is the size of each category. Totaling time complexity to O n log m for all buckets. The join index will be used to materialize the joined relation if required. Otherwise, it will be used along with other join indices of other relations to build a lattice to be used in multi-join operations with minimal I/O requirements. The lattice of the join indices can be fitted into the main memory to reduce time complexity of the multi join algorithm.

Keywords: Multi join, Relation, Lattice, Join indices.

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Authors: Charru Malhotra, Girija Krishnaswamy

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Setting up of rural telecentres, popularly referred to as Common Service Centres (CSCs), are considered one of the initial forerunners of rural e-Governance initiatives under the Government of India-s National e-Governance Plan (NeGP). CSCs are implemented on public-private partnership (PPP) – where State governments play a major role in facilitating the establishment of CSCs and investments are made by private companies referred to as Service Centre Agencies (SCAs). CSC implementation is expected to help in improving public service delivery in a transparent and efficient manner. However, there is very little research undertaken to study the actual impact of CSC implementation at the grassroots level. This paper addresses the gap by identifying the circumstances, concerns and expectations from the point-of-view of citizens and examining the finer aspects of social processes in the context of rural e-Governance.

Keywords: Capacity Building, Citizens' Participation, e- Government, NeGP, PPP, Rural Telecentres

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Authors: Siti Khairunniza-Bejo, Yusnida Yusoff, Nik Salwani Nik Yusoff, Idris Abu Seman, Mohamad Izzuddin Anuar

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Most of the oil palm plantations have been threatened by Basal Stem Rot (BSR) disease which causes serious economic impact. This study was conducted to identify the healthy and BSRinfected oil palm tree using thirteen color indices. Multispectral and thermal camera was used to capture 216 images of the leaves taken from frond number 1, 9 and 17. Indices of normalized difference vegetation index (NDVI), red (R), green (G), blue (B), near infrared (NIR), green – blue (GB), green/blue (G/B), green – red (GR), green/red (G/R), hue (H), saturation (S), intensity (I) and thermal index (T) were used. From this study, it can be concluded that G index taken from frond number 9 is the best index to differentiate between the healthy and BSR-infected oil palm trees. It not only gave high value of correlation coefficient (R=-0.962), but also high value of separation between healthy and BSR-infected oil palm tree. Furthermore, power and S model developed using G index gave the highest R2 value which is 0.985.

Keywords: Oil palm, image processing, disease, leaves.

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Authors: R. Malisa, E. Schwella, K. I. Theletsane

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Due to climate change, population growth and rapid urbanization, the demand for water in South Africa is inevitably surpassing supply. To address similar challenges globally, there has been a paradigm shift from conventional urban waste water management “government” to a “governance” paradigm. From the governance paradigm, Integrated Urban Water Management (IUWM) principle emerged. This principle emphasizes efficient urban waste water treatment and production of high-quality recyclable effluent. In so doing mimicking natural water systems, in their processes of recycling water efficiently, and averting depletion of natural water resources.  The objective of this study was to investigate drivers of shifting the current urban waste water management approach from a “government” paradigm towards “governance”. The study was conducted through Interactive Management soft systems research methodology which follows a qualitative research design. A case study methodology was employed, guided by realism research philosophy. Qualitative data gathered were analyzed through interpretative structural modelling using Concept Star for Professionals Decision-Making tools (CSPDM) version 3.64.  The constructed model deduced that the main drivers in shifting the Stellenbosch municipal urban waste water management towards IUWM “governance” principles are mainly social elements characterized by overambitious expectations of the public on municipal water service delivery, mis-interpretation of the constitution on access to adequate clean water and sanitation as a human right and perceptions on recycling water by different communities. Inadequate public participation also emerged as a strong driver. However, disruptive events such as draught may play a positive role in raising an awareness on the value of water, resulting in a shift on the perceptions on recycled water. Once the social elements are addressed, the alignment of governance and administration elements towards IUWM are achievable. Hence, the point of departure for the desired paradigm shift is the change of water service authorities and serviced communities’ perceptions and behaviors towards shifting urban waste water management approaches from “government” to “governance” paradigm.

Keywords: Integrated urban water management, urban water system, waste water governance, waste water treatment works.

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Authors: Chie Urawa

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Cautionary statements or disclaimers in corporate annual reports need to be carefully designed because clear cautionary statements may protect a company in the case of legal disputes and may undermine positive impressions. This study compares the language of cautionary statements using two corpora, Sony’s cautionary statement corpus (S-corpus) and Panasonic’s cautionary statement corpus (P-corpus), illustrating the differences and similarities in relation to the use of meaningful cautionary statements and critically analyzing why practitioners use the way. The findings describe the distinct differences between the two companies in the presentation of the risk factors and the way how they make the statements. The word ability is used more for legal protection in S-corpus whereas the word possibility is used more to convey a better impression in P-corpus. The main similarities are identified in the use of lexical words and pronouns, and almost the same wordings for eight years. The findings show how they make the statements unique to the company in the presentation of risk factors, and the characteristics of specific genre of professional communication. Important implications of this study are that more comprehensive approach can be applied in other contexts, and be used by companies to reflect upon their cautionary statements.

Keywords: Cautionary statements, corporate annual reports, corpus, risk factors.

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Authors: Satjaporn Tungsong, Gun Srijuntongsiri

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This research seeks to investigate the frequency and profitability of index arbitrage opportunities involving the SET50 futures, SET50 component stocks, and the ThaiDEX SET50 ETF (ticker symbol: TDEX). In particular, the frequency and profit of arbitrage are measured in the following three arbitrage tests: (1) SET50 futures vs. ThaiDEX SET50 ETF, (2) SET50 futures vs. SET50 component stocks, and (3) ThaiDEX SET50 ETF vs. SET50 component stocks are investigated. For tests (2) and (3), the problems involve conic optimization and quadratic programming as subproblems. This research is first to apply conic optimization and quadratic programming techniques in the context of index arbitrage and is first to investigate such index arbitrage in the Thai equity and derivatives markets. Thus, the contribution of this study is twofold. First, its results would help understand the contribution of the derivatives securities to the efficiency of the Thai markets. Second, the methodology employed in this study can be applied to other geographical markets, with minor adjustments.

Keywords: Conic optimization, Equity index arbitrage, Executionlags, Quadratic programming, SET50 index futures, ThaiDEX SET50ETF, Transaction costs

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Authors: W. Sutopo, M. Hisjam, Yuniaristanto

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In general, small-scale vegetables farmers experience problems in improving the safety and quality of vegetables supplied to high-class consumers in modern retailers. They also lack of information to access market. The farmers group and/or cooperative (FGC) should be able to assist its members by providing training in handling and packing vegetables and enhancing marketing capabilities to sell commodities to the modern retailers. This study proposes an agri-food supply chain (ASC) model that involves the corporate social responsibility (CSR) activities to cultivate the capabilities of farmers to access market. Multi period ASC model is formulated as Weighted Goal Programming (WGP) to analyze the impacts of CSR programs to empower the FGCs in managing the small-scale vegetables farmers. The results show that the proposed model can be used to determine the priority of programs in order to maximize the four goals to be achieved in the CSR programs.

Keywords: agri-food supply chain, corporate social responsibility, small-scale vegetables farmers, weighted goal programming.

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Authors: Manish Pal, Rumi Sutradhar

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Pavement surface unevenness plays a pivotal role on roughness index of road which affects on riding comfort ability. Comfort ability refers to the degree of protection offered to vehicle occupants from uneven elements in the road surface. So, it is preferable to have a lower roughness index value for a better riding quality of road users. Roughness is generally defined as an expression of irregularities in the pavement surface which can be measured using different equipments like MERLIN, Bump integrator, Profilometer etc. Among them Bump Integrator is quite simple and less time consuming in case of long road sections. A case study is conducted on low volume roads in West District in Tripura to determine roughness index (RI) using Bump Integrator at the standard speed of 32 km/h. But it becomes too tough to maintain the requisite standard speed throughout the road section. The speed of Bump Integrator (BI) has to lower or higher in some distinctive situations. So, it becomes necessary to convert these roughness index values of other speeds to the standard speed of 32 km/h. This paper highlights on that roughness index conversional model. Using SPSS (Statistical Package of Social Sciences) software a generalized equation is derived among the RI value at standard speed of 32 km/h and RI value at other speed conditions.

Keywords: Bump Integrator, Pavement Distresses, Roughness Index, SPSS.

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Authors: Nuzlinda Abdul Rahman, Syerrina Zakaria

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Deprivation indices are widely used in public health study. These indices are also referred as the index of inequalities or disadvantage. Even though, there are many indices that have been built before, it is believed to be less appropriate to use the existing indices to be applied in other countries or areas which had different socio-economic conditions and different geographical characteristics. The objective of this study is to construct the index based on the geographical and socio-economic factors in Peninsular Malaysia which is defined as the weighted household-based deprivation index. This study has employed the variables based on household items, household facilities, school attendance and education level obtained from Malaysia 2000 census report. The factor analysis is used to extract the latent variables from indicators, or reducing the observable variable into smaller amount of components or factor. Based on the factor analysis, two extracted factors were selected, known as Basic Household Amenities and Middle-Class Household Item factor. It is observed that the district with a lower index values are located in the less developed states like Kelantan, Terengganu and Kedah. Meanwhile, the areas with high index values are located in developed states such as Pulau Pinang, W.P. Kuala Lumpur and Selangor.

Keywords: Factor Analysis, Basic Household Amenities, Middle-Class Household Item, Socio-economic Index

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Authors: G. Cannistraro, L. Ponterio

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In this paper is reported an analysis about the outdoor air pollution of the urban centre of the city of Messina. The variations of the most critical pollutants concentrations (PM10, O3, CO, C6H6) and their trends respect of climatic parameters and vehicular traffic have been studied. Linear regressions have been effectuated for representing the relations among the pollutants; the differences between pollutants concentrations on weekend/weekday were also analyzed. In order to evaluate air pollution and its effects on human health, a method for calculating a pollution index was implemented and applied in the urban centre of the city. This index is based on the weighted mean of the most detrimental air pollutants concentrations respect of their limit values for protection of human health. The analyzed data of the polluting substances were collected by the Assessorship of the Environment of the Regional Province of Messina in the year 2004. A statistical analysis of the air quality index trends is also reported.

Keywords: Environmental pollution, Pollutants levels, Linearregression, Air Quality Index, Statistical analysis.

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Authors: Le Xuan Cau

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Flash flood is occurred in short time rainfall interval: from 1 hour to 12 hours in small and medium basins. Flash floods typically have two characteristics: large water flow and big flow velocity. Flash flood is occurred at hill valley site (strip of lowland of terrain) in a catchment with large enough distribution area, steep basin slope, and heavy rainfall. The risk of flash floods is determined through Gridded Basin Flash Flood Potential Index (GBFFPI). Flash Flood Potential Index (FFPI) is determined through terrain slope flash flood index, soil erosion flash flood index, land cover flash floods index, land use flash flood index, rainfall flash flood index. Determining GBFFPI, each cell in a map can be considered as outlet of a water accumulation basin. GBFFPI of the cell is determined as basin average value of FFPI of the corresponding water accumulation basin. Based on GIS, a tool is developed to compute GBFFPI using ArcObjects SDK for .NET. The maps of GBFFPI are built in two types: GBFFPI including rainfall flash flood index (real time flash flood warning) or GBFFPI excluding rainfall flash flood index. GBFFPI Tool can be used to determine a high flash flood potential site in a large region as quick as possible. The GBFFPI is improved from conventional FFPI. The advantage of GBFFPI is that GBFFPI is taking into account the basin response (interaction of cells) and determines more true flash flood site (strip of lowland of terrain) while conventional FFPI is taking into account single cell and does not consider the interaction between cells. The GBFFPI Map of QuangNam, QuangNgai, DaNang, Hue is built and exported to Google Earth. The obtained map proves scientific basis of GBFFPI.

Keywords: ArcObjects SDK for .NET, Basin average value of FFPI, Gridded basin flash flood potential index, GBFFPI map.

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Authors: Sh. E. Jamanbalayeva, G. S. Abdiraiymova, N. Zh. Biyekenova, D. K. Burkhanova

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At present the process of formation of corporate values in Kazakh universities is under the influence of a whole range of socio-economic and cultural changes: on the one hand universities must maintain and transmit traditional cultural values of education, on the other, to improve quality of service and to involve young people to science, providing thus own competitiveness. Thus, this article presents some results of two cycles of sociological research conducted in 2012 and aimed at identifying possible ways to popularize science and readiness to participate of youth in given activities, expectations of young scientists and the prospects of future development of the Kazakh science.

Keywords: Corporate culture, higher education institutions, motivation reforms, young scientists.

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Authors: Priyanka Sen, Kaibalya Prasad Panda, Soumyakanta Samantaray, Sreyasee Rout, Bishnupriya Biswal

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Deregulation in the power system industry and the invention of new technologies for producing electrical energy has led to innovations in power system planning. Distributed generation (DG) is one of the most attractive technologies that bring different kinds of advantages to a lot of entities, engaged in power systems. In this paper, a model for considering DGs in the power system planning problem is presented. Dynamic power system planning for reduction of maintenance and operational cost is presented in this paper. In addition to that, a modified particle swarm optimization (PSO) is used to find the optimal topology solution. Voltage Profile Improvement Index (VPII) and Line Loss Reduction Index (LLRI) are taken as benefit index of employing DG. The effectiveness of this method is demonstrated through examination of IEEE 30 bus test system.

Keywords: Distributed generation, line loss reduction index, particle swarm optimization, power system, voltage profile improvement index.

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Authors: Guangzhuang Yu, Chun-Chu Liu

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With the advent of the Internet era in recent years, social music education has gradually shifted from the original entity education mode to the mode of entity plus network teaching. No matter for school music education, professional music education or social music education, the teaching quality is the most important evaluation index. Regarding the research on teaching quality evaluation, scholars at home and abroad have contributed a lot of research results on the basis of multiple methods and evaluation subjects. However, to our best knowledge the complete evaluation model for the virtual teaching interaction mode of the emerging network music education Application (APP) has not been established. This research firstly found out the basic dimensions that accord with the teaching quality required by the three parties, constructing the quality evaluation index system; and then, on the basis of expounding the connotation of each index, it determined the weight of each index by using method of fuzzy analytic hierarchy process, providing ideas and methods for scientific, objective and comprehensive evaluation of the teaching quality of network education APP.

Keywords: Network music education APP, teaching quality evaluation, index, connotation.

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Authors: Shibly Abdullah

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This paper provides an overview of fundamental philosophical and functional differences in conventional and Islamic accounting. The aim of this research is to undertake a detailed analysis focus on specific illustrations drawn from both these systems and highlight how these differences implicate in recording financial transactions and preparation of financial reports for a range of stakeholders. Accounting as being universally considered as a platform for providing a ‘true and fair’ view of corporate entities can be challenged in the current world view, as the business environment has evolved and transformed significantly. Growth of the non-traditional corporate entity such as Islamic financial institutions, fundamentally questions the applicability of conventional accounting standards in preparation of Shariah-compliant financial reporting. Coupled with this, there are significant concerns about the wider applicability of Islamic accounting standards and framework in order to achieve reporting practices satisfying the information needs generally. Against the backdrop of such a context, this paper raises fundamental question as to how potential convergence could be achieved between these two systems in order to provide users’ a transparent and comparable state of financial information resulting in an alternative framework of financial reporting.

Keywords: Accounting, Islamic accounting, conventional accounting, corporate reporting.

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Authors: Altayeb Qasem, Tarek Zayed, Zhi Chen

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Statistics Canada stated that the wastewater treatment facilities in most provinces are aging and passes 63% of their useful life in 2007 the highest ratio among public infrastructure assets. Currently, there is no standard condition rating system for wastewater treatment plants that give a specific rating index that describe the physical integrity of different infrastructure elements in the treatment plant and its environmental performance. The main objective of this study is to develop a condition-rating index for wastewater treatment plants mainly activated sludge systems. The proposed WWTP CRI, is based on dividing the treatment plant into its three treatment phases; primary phase, secondary phase and the tertiary phase. The condition-rating index will reflect the infrastructures state for each phase, mainly tanks, pipes, blowers and pumps.

Keywords: Condition rating index, Wastewater treatment plants, AHP- MUAT.

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Authors: Muhammad Tufail, Jawad Hussain, Hammad Hussain, Imran Hafeez, Naveed Ahmad

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Road safety performance index is a composite index which combines various indicators of road safety into single number. Development of a road safety performance index using appropriate safety performance indicators is essential to enhance road safety. However, a road safety performance index in developing countries has not been given as much priority as needed. The primary objective of this research is to develop a general Road Safety Performance Index (RSPI) for developing countries based on the facility as well as behavior of road user. The secondary objectives include finding the critical inputs in the RSPI and finding the better method of making the index. In this study, the RSPI is developed by selecting four main safety performance indicators i.e., protective system (seat belt, helmet etc.), road (road width, signalized intersections, number of lanes, speed limit), number of pedestrians, and number of vehicles. Data on these four safety performance indicators were collected using observation survey on a 20 km road section of the National Highway N-125 road Taxila, Pakistan. For the development of this composite index, two methods are used: a) Principal Component Analysis (PCA) and b) Equal Weighting (EW) method. PCA is used for extraction, weighting, and linear aggregation of indicators to obtain a single value. An individual index score was calculated for each road section by multiplication of weights and standardized values of each safety performance indicator. However, Simple Average technique was used for weighting and linear aggregation of indicators to develop a RSPI. The road sections are ranked according to RSPI scores using both methods. The two weighting methods are compared, and the PCA method is found to be much more reliable than the Simple Average Technique.

Keywords: Aggregation, index score, indicators, principal component analysis, weighting.

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Authors: Hyunchul Ahn, Kyoung-Jae Kim

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Corporate credit rating prediction using statistical and artificial intelligence (AI) techniques has been one of the attractive research topics in the literature. In recent years, multiclass classification models such as artificial neural network (ANN) or multiclass support vector machine (MSVM) have become a very appealing machine learning approaches due to their good performance. However, most of them have only focused on classifying samples into nominal categories, thus the unique characteristic of the credit rating - ordinality - has been seldom considered in their approaches. This study proposes new types of ANN and MSVM classifiers, which are named OMANN and OMSVM respectively. OMANN and OMSVM are designed to extend binary ANN or SVM classifiers by applying ordinal pairwise partitioning (OPP) strategy. These models can handle ordinal multiple classes efficiently and effectively. To validate the usefulness of these two models, we applied them to the real-world bond rating case. We compared the results of our models to those of conventional approaches. The experimental results showed that our proposed models improve classification accuracy in comparison to typical multiclass classification techniques with the reduced computation resource.

Keywords: Artificial neural network, Corporate credit rating, Support vector machines, Ordinal pairwise partitioning

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Authors: Michael Amberg, Dipl. Kfm. Johannes C. Panitz

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Compliance requires an effective communication within an enterprise as well as towards a company-s external environment. This requirement commences with the implementation of compliance within large scale compliance projects and still persists in the compliance reporting within standard operations. On the one hand the understanding of compliance necessities within the organization is promoted. On the other hand reduction of asymmetric information with compliance stakeholders is achieved. To reach this goal, a central reporting must provide a consolidated view of different compliance efforts- statuses. A concept which could be adapted for this purpose is the balanced scorecard by Kaplan / Norton. This concept has not been analyzed in detail concerning its adequacy for a holistic compliance reporting starting in compliance projects until later usage in regularly compliance operations. At first, this paper evaluates if a holistic compliance reporting can be designed by using the balanced scorecard concept. The current status of compliance reporting clearly shows that scorecards are generally accepted as a compliance reporting tool and are already used for corporate governance reporting. Additional specialized compliance IT - solutions exist in the market. After the scorecard-s adequacy is thoroughly examined and proofed, an example strategy map as the basis to derive a compliance balanced scorecard is defined. This definition answers the question on proceeding in designing a compliance reporting tool.

Keywords: Balanced Scorecard, Compliance, ComplianceReporting, Compliance Scorecard.

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Authors: A. Bobirca, A. Draghici

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The objective of this paper is to construct a creativity composite index designed to capture the growing role of creativity in driving economic and social development for the 27 European Union countries. The paper proposes a new approach for the measurement of EU-27 creative potential and for determining its capacity to attract and develop creative human capital. We apply a modified version of the 3T model developed by Richard Florida and Irene Tinagli for constructing a Euro-Creativity Index. The resulting indexes establish a quantitative base for policy makers, supporting their efforts to determine the contribution of creativity to economic development.

Keywords: European Creativity Index, talent, technology, tolerance

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Authors: Rushi Tan, Yilun Xu, Xiaohui Wang

Abstract:

The restrained construction zoning, an important part in the urban master plan, is a necessary planning tool to control the city sprawl, to guarantee the reservation implementation of the various types of protective elements, and to realize the storage of the essential urban spatial resources. Simultaneously, owing to the diverse constitutes of restrained construction area and the various stakeholders involved in, its planning requires an overall consideration of all elements from the perspective of coordination+, balance and practicability to deal with the problems and conflicts in this process. Taking Yangzijin Ecological Restrained Construction Area in Yangzhou as an example, this study analyzes all the potential actors, agencies and stakeholders in this restrained construction area, as well as the relevant conflicts between each other. Besides, this study tries to build up a planning procedure based on the framework of governance theory, and proposes a possible planning method that combines "rigidity" and "flexibility" to protect the ecological limitation boundary, to take every interest into account, and to promote economic development in a harmonious society.

Keywords: Restrained construction area, governance, stakeholder, flexible stratagem, China.

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Authors: T. Basitah

Abstract:

This study was to explore and utilize the fresh rind of mangosteen Index Colour 5 as an upcoming raw material for the production of natural dyes. Rind from the fresh mangosteen Index Colour 5 was utilized to extract the dyes. The established extracts were experimented on silk fabrics via three types of mordanting and dyeing procedures; pre-mordanting, simultaneous mordanting and post-mordanting. As a result, the applications of the freeze-drying methodology and mechanizable equipment have helped to produce excellent range of natural colours. Silk fabric treated simultaneously with mordanting and dyeing with extract dye Index Colour 5 produced a brilliant shade of the red colour and the colour from this index is also discovered sensitive to light and washing during the fastness tests. The preliminary evaluation and instrumentation analysis allowed us to examine whether the application of different mordanting and dyeing procedures with the same extract samples and concentrations affected the colours and shades of the fabric samples.

Keywords: Natural dye, Freeze-drying, Garcinia mangostana Linn, Mordanting.

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Authors: Mădălina Maria Gîrbină, Cătălin Nicolae Albu, Nadia Albu

Abstract:

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

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