Search results for: innovation policy

Authors: Yue Wang

Abstract:

Five years after the newest English curriculum, reform policy was enacted in China and hand-wringing spread among teachers who accused that this is another “wearing new shoes to walk the old road” policy. This paper provides a thoroughly philosophical policy analysis of serious efforts that had been made to support this reform and revealed the hindrances that bridled the reform to yield the desired effect. Blame could be easily put on teachers for their insufficient pedagogical content knowledge, conservative resistance, and the handicaps of large class sizes and limited teaching times and so on. However, the underlying causes for this implementation failure are the interrelated factors in the NCEE-centred education system, such as the reluctance from students, the lack of school and education bureau support and insufficient teacher training. A further discussion of the 2017 to 2020’s NCEE reform on English prompts new possibilities for the authentic pedagogical approach reform in secondary English classes. In all, the pedagogical approach reform at the secondary level is heading towards a brighter future with the initiation of new NCEE reform.

Keywords: English curriculum, failure, NCEE, new possibilities, pedagogical, policy analysis, reform.

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Authors: Slavka Zeković

Abstract:

A preliminary evaluation of the urban land system is presented in the article together with the instruments of land policy in Serbia. The main reason for the analysis is demand for definition of reform framework for urban land management in Serbia in the period of transition towards market-led system. It is concluded that due to the limitations of the current regulation it will be impossible in the future to apply market principles in the urban land policy (supply and demand of land, land capitalization, investment efficiency, et al.). Based on the estimation that the urban land system and land policy are key factors of competitiveness between regions and towns in Serbia, it is necessary to initiate changes in this field. There are indicated on an option of privatization of urban public land and possible establishment of leasehold land. A comparative analysis of the possibilities of the reform urban land system in Serbia has been carried out in relation to two approaches of market systems: (a) with dominant private ownership of urban land (neo/liberal approach) and (b) with dominant public ownership of urban land (system of leasehold)whose findings can be a basis for further study of the new system in Serbia.. The attanied results are part of studies matter for the making of Strategy of territorial development of Serbia.

Keywords: Urban Land System, Urban Land Management, Instruments of Land Policy, Evaluation, Market.

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Authors: In Su Na, Gunwon Lee, Seiyong Kim

Abstract:

This study analyzed the effect of area variables and economic variables on the length of each period of the project in order to analyze the effect of agreement rate on project implementation in housing renewal projects. In conclusion, as can be seen from these results, a low agreement rate may not translate into project promotion, and a higher agreement rate may not translate into project delay. The expectation of the policy is that the lower the agreement rate, the more projects would be promoted, but that is not the actual effect. From a policy consistency viewpoint, changing the agreement rate frequently, depending on the decision of the public, is not reasonable. The policy of using agreement rate as a necessary condition for project implementation should be reconsidered.

Keywords: Area and Economic Variables, Elapsed time, Housing Renewal Project.

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Authors: Shu-Chiao Yang, Jong-Jiann Shieh

Abstract:

A Simultaneous Multithreading (SMT) Processor is capable of executing instructions from multiple threads in the same cycle. SMT in fact was introduced as a powerful architecture to superscalar to increase the throughput of the processor. Simultaneous Multithreading is a technique that permits multiple instructions from multiple independent applications or threads to compete limited resources each cycle. While the fetch unit has been identified as one of the major bottlenecks of SMT architecture, several fetch schemes were proposed by prior works to enhance the fetching efficiency and overall performance. In this paper, we propose a novel fetch policy called queue situation identifier (QSI) which counts some kind of long latency instructions of each thread each cycle then properly selects which threads to fetch next cycle. Simulation results show that in best case our fetch policy can achieve 30% on speedup and also can reduce the data cache level 1 miss rate.

Keywords: SMT, QSI, DL1 miss rate.

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Authors: Dragan D. Stamenkovic, Vladimir M. Popovic

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Warranty is a powerful marketing tool for the manufacturer and a good protection for both the manufacturer and the customer. However, warranty always involves additional costs to the manufacturer, which depend on product reliability characteristics and warranty parameters. This paper presents an approach to optimisation of warranty parameters for known product failure distribution to reduce the warranty costs to the manufacturer while retaining the promotional function of the warranty. Combination free replacement and pro-rata warranty policy is chosen as a model and the length of free replacement period and pro-rata policy period are varied, as well as the coefficients that define the pro-rata cost function. Multiparametric warranty optimisation is done by using genetic algorithm. Obtained results are guideline for the manufacturer to choose the warranty policy that minimises the costs and maximises the profit.

Keywords: costs, genetic algorithm, optimisation, warranty.

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Authors: Nieto B. W, Luna A. C, Ramos R. J.

Abstract:

This paper describes an experience of research, development and innovation applied in Industrial Naval at (Science and Technology Corporation for the Development of Shipbuilding Industry, Naval in Colombia (COTECMAR) particularly through processes of research, innovation and technological development, based on theoretical models related to organizational knowledge management, technology management and management of human talent and integration of technology platforms. It seeks ways to facilitate the initial establishment of environments rich in information, knowledge and content-supported collaborative strategies on dynamic processes missionary, seeking further development in the context of research, development and innovation of the Naval Engineering in Colombia, making it a distinct basis for the generation of knowledge assets from COTECMAR. The integration of information and communication technologies, supported on emerging technologies (mobile technologies, wireless, digital content via PDA, and content delivery services on the Web 2.0 and Web 3.0) as a view of the strategic thrusts in any organization facilitates the redefinition of processes for managing information and knowledge, enabling the redesign of workflows, the adaptation of new forms of organization - preferably in networking and support the creation of symbolic-inside-knowledge promotes the development of new skills, knowledge and attitudes of the knowledge worker

Keywords: Management Knowledge, Information andCommunication Technologies, Knowledge Worker.

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Authors: Rawya Rizk, Rehab Abdel-Kader, Rabab Ramadan

Abstract:

Unlike the best effort service provided by the internet today, next-generation wireless networks will support real-time applications. This paper proposes an adaptive early packet discard (AEPD) policy to improve the performance of the real time TCP traffic over ATM networks and avoid the fragmentation problem. Three main aspects are incorporated in the proposed policy. First, providing quality-of-service (QoS) guaranteed for real-time applications by implementing a priority scheduling. Second, resolving the partially corrupted packets problem by differentiating the buffered cells of one packet from another. Third, adapting a threshold dynamically using Fuzzy logic based on the traffic behavior to maintain a high throughput under a variety of load conditions. The simulation is run for two priority classes of the input traffic: real time and non-real time classes. Simulation results show that the proposed AEPD policy improves throughput and fairness over that using static threshold under the same traffic conditions.

Keywords: Early packet discard, Fuzzy logic, packet dropping policies, quality-of-service (QoS), TCP over ATM

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Authors: N. Garba, C. S. Özveren, D. Blackwood, A. Adamu, A. I. Augie

Abstract:

The purpose of this paper was to develop a policy and associated regulatory actions together with legislations that could help in sustainable energy development in Africa and Nigeria in particular. As a result of depletion of fossil fuels in most African countries, renewable energy options such as solar, wind and hydropower biomass are considered to be alternative sources in sustaining the energy security in the continent and particularly Nigeria. Corruption level is another factor that hinders economic growth and development in Nigeria. A review of the past literature on sustainable energy policy from Europe has been carried out. The countries investigated include: The United Kingdom, Germany, Norway and Finland. Their policies have been examined, and this helps suggest new policies on sustainable energy for Nigeria and Africa as a continent. The policies analyzed focused on incentives such as Feed-in-Tariff (FiT). Renewable energy sources potential and renewable have been investigated in Nigeria and that could help in formulating new sustainable energy policy for the country. Some of the proposed policies includes: Renewable Obligation (RO), Cogeneration, FiT, Carbon Capture and Storage (CCS), Renewable Integration, and Heat Entrepreneurship. These are some the new policies that could help sustain the energy security, reduce the level of poverty and corruption in Nigeria as well as Africa in general. If these policies are well designed and properly implemented as observed in this research, Nigeria can achieve sustainable energy and economic growth and development in the near future. Each proposed policy was assigned a timeframe for it to be achieved.

Keywords: Sustainability, renewable energy, energy policies, Africa, Nigeria, Europe, United Kingdom, Germany, Norway, Finland.

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Authors: Agnieszka Szczudlińska-Kanoś

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Socio-economic development, which is seen around the world today, has contributed to the emergence of new problems of a social nature. Different political, historical, geographical or economic conditions cause that, in addition to global issues of social policy such as an aging population, unemployment, migration, countries, regions, there are also specific new problems that require diagnosis, individualized approach and efficient, planned solutions. These should include, among others, digital addiction, peer violence, obesity among children, the problem of ‘legal highs’, stress, depression, diseases associated with environmental pollution etc. The central authorities, selected most often with the tools specific to representative democracy, that is, the general election, for many reasons, inter alia, organizational, communication, are not able to effectively diagnose their intensity, territorial distribution, and thus to effectively fight them. This article aims to show how in Poland, citizens influence solving problems related to the broader social policy implemented at the local government level and indicates the possibilities of improving those solutions. The conclusions of theoretical analysis have been supported by empirical studies, which tested the use of instruments of participatory democracy in the planning and creation of communal strategies for solving social problems in one of the Polish voivodeships.

Keywords: Commune, democracy, participation, social policy, social problems.

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Authors: G. Erkomaishvili

Abstract:

The paper discusses mineral water consumer market and development policy in Georgia, the tools and measures, which will contribute to production of mineral waters and increase its export. The paper studies and analyses current situation in mineral water production sector as well as the factors affecting increase and reduction of its export. It’s noted that in order to gain and maintain competitive advantage, it’s necessary to provide continuous supply of high quality goods with modern design, open new distribution channels to enter new markets, carry out broad promotional activities, organize e-commerce. Economic policy plays an important role in protecting markets from counterfeit goods. The state also plays an important role in attracting foreign direct investments. Stable business environment and export oriented strategy is the basis for the country’s economic growth. Based on the research, the paper suggests the strategy for improving competitiveness of Georgian mineral waters; relevant conclusions and recommendations are provided.

Keywords: Mineral waters, consumer market for mineral waters, export of mineral waters, mineral water development policy in Georgia.

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Authors: Carey Curtis

Abstract:

There is a renewed interest in land use transport integration as a means of achieving sustainable accessibility. Such accessibility requires designing more than simply the transport network; it also requires attention to place (built form). Transitoriented development would appear to capture many of the criteria deemed important in land use transport integration. In Perth, Australia, there have been planning policies for the past 20 years requiring transit-oriented development around railway stations throughout the metropolitan area. While the policy intent, particularly at the State level, is clear the implementation of policy has been fairly ineffective. The first part of this paper provides an examination of state and local government planning and transport policies, evaluating them using a set of land use transport integration criteria considered all encompassing. This provides some insight into the extent of state and local government capacity to deliver land use transport integration. The second part of this paper examines the extent of implementation by examining existing and proposed land use around station precincts throughout metropolitan Perth. The findings of this research suggest that the capacity of state and local government to deliver land use transport integration is reasonable in a planning policy sense. Implementation, despite long policy lead times, has been lacking. It appears to be more effective where local planning controls have been suspended with new redevelopment authorities given powers to develop land around railway stations.

Keywords: Transit-oriented development, sustainable transport, transport policy.

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Authors: Juha Kettunen

Abstract:

This study presents a project that tests and adjusts active European learning and teaching methods in Indonesian universities to increase their external impact on enterprises and other organizations; it also assesses the implementation of the Erasmus+ projects funded by the European Union. The project is based on the approach of innovation pedagogy that responds to regional development needs and integrates applied research and development projects into education to create capabilities for students to participate in development work after graduation. The assessment of the Erasmus+ project resulted in many improvements that can be made to achieve higher quality and innovativeness. The results of this study are useful for those who want to improve the applied research and development projects of higher education institutions.

Keywords: Higher education, innovations, project management, networks.

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Authors: S. Karklina, I. Erins

Abstract:

The main problem is that there is a very low innovation performance in Latvia. Since Latvia is a Member State of European Union, it also shall have to fulfill the set targets and to improve innovative results.Universities are one of the main performers to provide innovative capacity of country. University, industry and government need to cooperate for getting best results.The intellectual property is one of the indicators to determine innovation level in the country or organization, and patents are one of the characteristics of intellectual property.The objective of the article is to determine indicators characterizing innovative environment in Latvia and influence of the development of universities on them.The methods that will be used in the article to achieve the objectives are quantitative and qualitative analysis of the literature, statistical data analysis and graphical analysis methods.

Keywords: HEI, innovations, Latvia, patents.

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Authors: G. Erkomaishvili, E. Kharaishvili, M. Chavleishvili, N. Sagareishvili

Abstract:

This paper discusses the current condition of tourism and its economic policy in Georgia. It analyzes and studies wellness tourism, as one of the directions of tourism; the newest niche in the wellness industry – triggering wellness resorts with medical ideology. The paper discusses the development tendencies of medical wellness resorts in Georgia and its main economic preferences. The main finding of the research is that Georgia is a unique place in the world according to the variety of medical recourses. This makes the opportunity to create and successfully operate medical wellness resorts, as well as develop it as a brand for Georgia in the world. The research represents the development strategies of tourism and its medical wellness resorts in Georgia, and offers recommendations based on the relevant conclusions.

Keywords: Economic policy of tourism, medical wellness resorts, tourism, wellness industry.

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Authors: K. Hardy, A. Maurushat

Abstract:

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: Anayochukwu Leonard Okoli

Abstract:

The nexus between language and culture is so intertwined and very significant that language is largely seen as a vehicle for cultural transmission. Culture itself refers to the aggregate belief system of a people, embellishing its corporate national image or brand. If we conceive national rebranding as a campaign to rekindle the patriotic flame in the consciousness of a people towards its sociocultural imperatives and values, then, Nigerian indigenous linguistic flame has not been ignited. Consequently, the paper contends that the current national rebranding policy remains a myth in the confines of the elitists' intellectual squabble. It however recommends that the use of our indigenous languages should be supported by adequate legislation and also propagated by Nollywood in order to revamp and sustain the people’s interest in their local languages. Finally, the use of the indigenous Nigerian languages demonstrates patriotism, an important ingredient for actualizing a genuine national rebranding.

Keywords: Appraisal, Indigenous Languages, Policy, Rebranding.

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Authors: Aron Miranda Burgos, Ergon Cugler de Moraes Silva

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In the present article, it is observed that the constant advancement of issues related to misinformation impacts the guarantee of the public policy cycle. Thus, it is found that the dissemination of false information has a direct influence on each of the component stages of this cycle. Therefore, in order to maintain scientific and theoretical credibility in the qualitative analysis process, it was necessary to logically interpose the concepts of firehosing of falsehood, fake news, public policy cycle, as well as using the epistemological and pragmatic mechanism at the intersection of such academic concepts, such as the scientific method. It was found, through the analysis of official documents and public notes, how the multiple theoretical perspectives evidence the commitment of the provision and elaboration of public policies, verifying the way in which the fake news impact each part of the process in this atmosphere.

Keywords: Firehosing of falsehood, governance, misinformation, post-truth.

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Authors: S. Hamid Mirmohammadi, Shahrazad Tamjidzad

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This paper is concerned with the single-item continuous review inventory system in which demand is stochastic and discrete. The budget consumed for purchasing the ordered items is not restricted but it incurs extra cost when exceeding specific value. The unit purchasing price depends on the quantity ordered under the all-units discounts cost structure. In many actual systems, the budget as a resource which is occupied by the purchased items is limited and the system is able to confront the resource shortage by charging more costs. Thus, considering the resource shortage costs as a part of system costs, especially when the amount of resource occupied by the purchased item is influenced by quantity discounts, is well motivated by practical concerns. In this paper, an optimization problem is formulated for finding the optimal (r, Q) policy, when the system is influenced by the budget limitation and a discount pricing simultaneously. Properties of the cost function are investigated and then an algorithm based on a one-dimensional search procedure is proposed for finding an optimal (r, Q) policy which minimizes the expected system costs.

Keywords: (r, Q) policy, Stochastic demand, backorders, limited resource, quantity discounts.

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Authors: D. Gåsvaer, J. von Axelson

Abstract:

Considering today-s increasing speed of change, radical and innovative improvement - Kaikaku, is a necessity parallel to continuous incremental improvement - Kaizen, especially for SME-s in order to attain the competitive edge needed to be profitable. During 2011, a qualitative single case study with the objective of realizing a kaikaku in production has been conducted. The case study was run as a one year project using a collaborative approach including both researchers and company representatives. The case study was conducted with the purpose of gaining further knowledge about kaikaku realization as well as its implications. The empirical results provide insights about the great productivity results achieved by applying a specific kaikaku realization approach. However, it also sheds light on the difficulty and contradiction of combining innovation management and production system development.

Keywords: Kaikaku, Radical improvement, manufacturing, innovation capability

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Authors: Mohammad Reza Ghanbari, Parham Azimi, Farrokh Abdollahi

Abstract:

Since the last two decades, container transportation system has been faced under increasing development. This fact shows the importance of container transportation system as a key role of container terminals to link between sea and land. Therefore, there is a continuous need for the optimal use of equipment and facilities in the ports. Regarding the complex structure of container ports, this paper presents a simulation model that compares tow storage strategies for storing containers in the yard. For this purpose, we considered loading and unloading norm as an important criterion to evaluate the performance of Shahid Rajaee container port. By analysing the results of the model, it will be shown that using marshalling yard policy instead of current storage system has a significant effect on the performance level of the port and can increase the loading and unloading norm up to 14%.

Keywords: Simulation Modeling, Container Port, Marshaling Yard, Storage Policy

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Authors: Veronika Solilová, Danuše Nerudová

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The paper examines the interaction between the environmental taxation, size of government spending on environmental protection and greenhouse gas emissions and gross inland energy consumption. The aim is to analyze the effects of environmental taxation and government spending on environmental protection as an environmental policy instruments on greenhouse gas emissions and gross inland energy consumption in the EU15. The empirical study is performed using a VAR approach with the application of aggregated data of EU15 over the period 1995 to 2012. The results provide the evidence that the reactions of greenhouse gas emission and gross inland energy consumption to the shocks of environmental policy instruments are strong, mainly in the short term and decay to zero after about 8 years. Further, the reactions of the environmental policy instruments to the shocks of greenhouse gas emission and gross inland energy consumption are also strong in the short term, however with the deferred effects. In addition, the results show that government spending on environmental protection together with gross inland energy consumption has stronger effect on greenhouse gas emissions than environmental taxes in EU15 over the examined period.

Keywords: VAR analysis, greenhouse gas emissions, environmental taxation, government spending.

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Authors: H.B. Nguendo Yongsi

Abstract:

An epidemiological cross sectional study was undertaken in Yaoundé in 2002 and updated in 2005. Focused on health within the city, the objectives were to measure diarrheal prevalence and to identify the risk factors associated with them. Results of microbiological examinations have revealed an urban average prevalence rate of 14.5%. Access to basic services in the living environment appears to be an important risk factor for diarrheas. Statistical and spatial analyses conducted have revealed that prevalence of diarrheal diseases vary among the two main types of settlement (informal and planned). More importantly, this study shows that, diarrhea prevalence rates (notably bacterial and parasitic diarrheas) vary according to the sub- category of settlements. The study draws a number of theoretical and policy implications for researchers and policy decision makers.

Keywords: Cameroon, diarrheal diseases, health risk factor, planned and spontaneous settlement, urban policy, urbanization.

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Authors: Zhengisbek Tolen, Kubash Mengdigali, Dinara Akbolat, Elnura Assyltaeva, Aliya Alimzhanova

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In the article the historical formation of interethnic and interconfessional agreement policy in Kazakhstan and their developing features at present time will be analyzed. The successfully pursued by Kazakhstan at the present in the direction of ethnic and confessional policy is regarded as a major factor in promoting stability for the country.

Keywords: Political stability, interethnic relationship, interconfessional agreement, tolerance.

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Authors: Jeremy J. Schmidt

Abstract:

Securing instream flows for aquatic ecosystems is critical for sustainable water management and the promotion of human and environmental health. Using a case study from the semiarid region of southern Alberta (Canada) this paper considers how the determination of instream flow standards requires judgments with respect to: (1) The relationship between instream flow indicators and assessments of overall environmental health; (2) The indicators used to determine adequate instream flows, and; (3) The assumptions underlying efforts to model instream flows given data constraints. It argues that judgments in each of these areas have an inherently ethical component because instream flows have direct effects on the water(s) available to meet obligations to humans and non-humans. The conclusion expands from the case study to generic issues regarding instream flows, the growing water ethics literature and prospects for linking science to policy.

Keywords: ethics, instream flows, policy, science, watermanagement

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Authors: G. Erkomaishvili, R. Gvelesiani, E. Kharaishvili, M. Chavleishvili

Abstract:

The topic reviews the situation existing currently in Georgia in the field of tourism in conditions of globalization: Touristic resources, the paces of development of the tourism infrastructure, tourism policy, possibilities of development of the Wellness industry in Georgia, that is the newest direction of the medical tourism. The factors impeding the development of the industry of tourism, namely – existence of the conflict zones, high rates of the bank credits, deficiencies associated with the tax laws, a level of infrastructural development, quality of services, deficit in the competitive staff, increase of prices in the peak seasons, insufficient promotion of the touristic opportunities of Georgia on the international markets are studied and analyzed. Besides, the level of development of tourism in Georgia according to the World Economic Forum, aspects of cooperation with the European Union, etc., is reviewed. As a result of these studies, a strategy of development of tourism and one of its direction – Wellness industry in Georgia, is introduced with the relevant conclusions, on which basis the recommendations are provided.

Keywords: Tourism, Tourism Policy, Wellness Industry.

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Authors: Zhenzhen Xu, Chunfu Shao, Shengyou Wang, Chunjiao Dong

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To improve the satisfaction of residents' travel, this paper analyzes the characteristics and influencing factors of urban residents' travel behavior. First, a Multinominal Logit Model (MNL) model is built to analyze the characteristics of residents' travel behavior, reveal the influence of individual attributes, family attributes and travel characteristics on the choice of travel mode, and identify the significant factors. Then put forward suggestions for policy improvement. Finally, Support Vector Machine (SVM) and Multi-Layer Perceptron (MLP) models are introduced to evaluate the policy effect. This paper selects Futian Street in Futian District, Shenzhen City for investigation and research. The results show that gender, age, education, income, number of cars owned, travel purpose, departure time, journey time, travel distance and times all have a significant influence on residents' choice of travel mode. Based on the above results, two policy improvement suggestions are put forward from reducing public transportation and non-motor vehicle travel time, and the policy effect is evaluated. Before the evaluation, the prediction effect of MNL, SVM and MLP models was evaluated. After parameter optimization, it was found that the prediction accuracy of the three models was 72.80%, 71.42%, and 76.42%, respectively. The MLP model with the highest prediction accuracy was selected to evaluate the effect of policy improvement. The results showed that after the implementation of the policy, the proportion of public transportation in plan 1 and plan 2 increased by 14.04% and 9.86%, respectively, while the proportion of private cars decreased by 3.47% and 2.54%, respectively. The proportion of car trips decreased obviously, while the proportion of public transport trips increased. It can be considered that the measures have a positive effect on promoting green trips and improving the satisfaction of urban residents, and can provide a reference for relevant departments to formulate transportation policies.

Keywords: Travel characteristics analysis, transportation choice, travel sharing rate, neural network model, traffic resource allocation.

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Authors: Ismail Guven

Abstract:

Educational reforms are focused point of different nations. New reform movements generally claim that something is wrong with the current state of affairs, and that the system is deficient in its goals, its accomplishments and it is accused not being adopted into global changes all over the world. It is the same for Turkish education system. It is considered those recent reforms of teacher education in Turkey and the extent to which they reflect a response to global economic pressures. The paper challenges the view that such imposes are inevitable determinants of educational policy and argues that any country will need to develop its own national approach to modernizing teacher education in light of the global context and its particular circumstances. It draws on the idea of reflexive modernization developed by educators and discusses its implications for teacher education policy. The paper deals with four themes teacher education in last decade policy in Turkey; the shift away from the educational disciplines, the shift towards school-based approaches, and the emergence of more centralized forms of accountability of teacher competence.

Keywords: Teacher education, globalization, Turkey.

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Authors: Edikan E. Akpanibah Obinichi C. Mandah Imoleayo S. Asiwaju

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In this paper, we studied the effect of supplementary premium on the optimal portfolio policy in a defined contribution (DC) pension scheme with refund of premium clauses. This refund clause allows death members’ next of kin to withdraw their relative’s accumulated wealth during the accumulation period. The supplementary premium is to help sustain the scheme and is assumed to be stochastic. We considered cases when the remaining wealth is equally distributed and when it is not equally distributed among the remaining members. Next, we considered investments in cash and equity to help increase the remaining accumulated funds to meet up with the retirement needs of the remaining members and composed the problem as a continuous time mean-variance stochastic optimal control problem using the actuarial symbol and established an optimization problem from the extended Hamilton Jacobi Bellman equations. The optimal portfolio policy, the corresponding optimal fund size for the two assets and also the efficient frontier of the pension members for the two cases was obtained. Furthermore, the numerical simulations of the optimal portfolio policies with time were presented and the effect of the supplementary premium on the optimal portfolio policy was discussed and observed that the supplementary premium decreases the optimal portfolio policy of the risky asset (equity). Secondly we observed a disparity between the optimal policies for the two cases.

Keywords: Defined contribution pension scheme, extended Hamilton Jacobi Bellman equations, optimal portfolio policies, refund of premium clauses, supplementary premium.

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Authors: Gupta Amit, Kumar Ramesh, Tewari P. C.

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Globalization is putting enormous pressure on the business organizations specially manufacturing one to rethink the supply chain in innovative manners. Inventory consumes major portion of total sale revenue. Effective and efficient inventory management plays a vital role for the successful functioning of any organization. Selection of inventory policy is one of the important purchasing activities. This paper focuses on selection and ranking of alternative inventory policies. A deterministic quantitative model based on Distance Based Approach (DBA) method has been developed for evaluation and ranking of inventory policies. We have employed this concept first time for this type of the selection problem. Four inventory policies economic order quantity (EOQ), just in time (JIT), vendor managed inventory (VMI) and monthly policy are considered. Improper selection could affect a company’s competitiveness in terms of the productivity of its facilities and quality of its products. The ranking of inventory policies is a multi-criteria problem. There is a need to first identify the selection criteria and then processes the information with reference to relative importance of attributes for comparison. Criteria values for each inventory policy can be obtained either analytically or by using a simulation technique or they are linguistic subjective judgments defined by fuzzy sets, like, for example, the values of criteria. A methodology is developed and applied to rank the inventory policies.

Keywords: Inventory Policy, Ranking, DBA, Selection criteria.

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Authors: Faroogh Khakzad, Marzieh Dehghani, Elahe Hejazi

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The present study investigates the effect of teaching a Thinking and Research lesson by cooperative and traditional methods on the creativity of sixth-grade students in Piranshahr province. The statistical society includes all the sixth-grade students of Piranshahr province. The sample of this studytable was selected by available sampling from among male elementary schools of Piranshahr. They were randomly assigned into two groups of cooperative teaching method and traditional teaching method. The design of the study is quasi-experimental with a control group. In this study, to assess students’ creativity, Abedi’s creativity questionnaire was used. Based on Cronbach’s alpha coefficient, the reliability of the factor flow was 0.74, innovation was 0.61, flexibility was 0.63, and expansion was 0.68. To analyze the data, t-test, univariate and multivariate covariance analysis were used for evaluation of the difference of means and the pretest and posttest scores. The findings of the research showed that cooperative teaching method does not significantly increase creativity (p > 0.05). Moreover, cooperative teaching method was found to have significant effect on flow factor (p < 0.05), but in innovation and expansion factors no significant effect was observed (p < 0.05).

Keywords: Cooperative teaching method, traditional teaching method, creativity, flow, innovation, flexibility, expansion, thinking and research lesson.

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