Search results for: Corporate credit rating

Authors: Chutima Ruanguttamanun

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Despite the relatively large number of studies that have examined the use of appeals in advertisements, research on the use of appeals in green advertisements is still underdeveloped and needs to be investigated further, as it is definitely a tool for marketers to create illustrious ads. In this study, content analysis was employed to examine the nature of green advertising appeals and to match the appeals with the green advertisements. Two different types of green print advertisings, product orientation and organizational image orientation were used. Thirty highly educated participants with different backgrounds were asked individually to ascertain three appeals out of thirty-four given appeals found among forty real green advertisements. To analyze participant responses and to group them based on common appeals, two-step K-mean clustering is used. The clustering solution indicates that eye-catching graphics and imaginative appeals are highly notable in both types of green ads. Depressed, meaningful and sad appeals are found to be highly used in organizational image orientation ads, whereas, corporate image, informative and natural appeals are found to be essential for product orientation ads.

Keywords: Advertising appeals, green marketing, green advertisement, printed advertisement.

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Authors: Jamaliah Mohd. Yusof, Rosidah Musa, Sofiah Abd. Rahman

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With previous studies that examined the importance of functional store image and CSR, this study is aimed at examining their effects in the self-congruity model in influencing store loyalty. In particular, this study developed and tested a structural model in the context of retailing industry on the self-congruity theory. Whilst much of the self-congruity studies have incorporated functional store image, there has been lack of studies that examined social responsibility image of retail stores in the self-congruity studies. Findings indicate that self-congruity influence on store loyalty was mediated by both functional store image and social responsibility image. In influencing store loyalty, the findings have shown that social responsibility image has a stronger influence on store loyalty than functional store image. This study offers important findings and implications for future research as it presents a new framework on the importance of social responsibility image.

Keywords: Self-congruity, functional store image, social responsibility image, store loyalty

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Authors: Naghmeh Moradpoor Sheykhkanloo

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Thousands of organisations store important and confidential information related to them, their customers, and their business partners in databases all across the world. The stored data ranges from less sensitive (e.g. first name, last name, date of birth) to more sensitive data (e.g. password, pin code, and credit card information). Losing data, disclosing confidential information or even changing the value of data are the severe damages that Structured Query Language injection (SQLi) attack can cause on a given database. It is a code injection technique where malicious SQL statements are inserted into a given SQL database by simply using a web browser. In this paper, we propose an effective pattern recognition neural network model for detection and classification of SQLi attacks. The proposed model is built from three main elements of: a Uniform Resource Locator (URL) generator in order to generate thousands of malicious and benign URLs, a URL classifier in order to: 1) classify each generated URL to either a benign URL or a malicious URL and 2) classify the malicious URLs into different SQLi attack categories, and a NN model in order to: 1) detect either a given URL is a malicious URL or a benign URL and 2) identify the type of SQLi attack for each malicious URL. The model is first trained and then evaluated by employing thousands of benign and malicious URLs. The results of the experiments are presented in order to demonstrate the effectiveness of the proposed approach.

Keywords: Neural Networks, pattern recognition, SQL injection attacks, SQL injection attack classification, SQL injection attack detection.

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Authors: C. Ardil

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Being effective in every organizational activity has become necessary due to the escalating level of competition in all areas of corporate life. In the context of supply chain management, aircraft supplier selection is currently one of the most crucial activities. It is possible to choose the best aircraft supplier and deliver efficiency in terms of cost, quality, delivery time, economic status, and institutionalization if a systematic supplier selection approach is used. In this study, an effective multiple criteria decision-making methodology, proximity measure method (PMM), is used within a fuzzy environment based on the vague structure of the real working environment. The best appropriate aircraft suppliers are identified and ranked after the proposed multiple criteria decision making technique is used in a real-life scenario.

Keywords: Aircraft supplier selection, multiple criteria decision making, fuzzy sets, proximity measure method, Minkowski distance family function, Hausdorff distance function, PMM, MCDM

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Authors: Arif Hassan, Forbis Ahmed

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The issue of leadership has been investigated from several perspectives; however, very less from ethical perspective. With the growing number of corporate scandals and unethical roles played by business leaders in several parts of the world, the need to examine leadership from ethical perspective cannot be over emphasized. The importance of leadership credibility has been discussed in the authentic model of leadership. Authentic leaders display high degree of integrity, have deep sense of purpose, and committed to their core values. As a result they promote a more trusting relationship in their work groups that translates into several positive outcomes. The present study examined how authentic leadership contribute to subordinates- trust in leadership and how this trust, in turn, predicts subordinates- work engagement. A sample of 395 employees was randomly selected from several local banks operating in Malaysia. Standardized tools such as ALQ, OTI, and EEQ were employed. Results indicated that authentic leadership promoted subordinates- trust in leader, and contributed to work engagement. Also, interpersonal trust predicted employees- work engagement as well as mediated the relationship between this style of leadership and employees- work engagement.

Keywords: Authentic Leadership, Interpersonal Trust, WorkEngagement

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Authors: Kari Huhtala, Iiro Jussila

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The supervisory board is assumed to use power in the governance of a firm, but the actual use of power has been scantly investigated. The research question of the paper is “How does the supervisory board use power in the selection of the board of directors”. The data stem from 11 large Finnish agricultural cooperatives. The research approach was qualitative including semi-structured interviews of the board of directors and supervisory board chairpersons. The results were analyzed and interpreted against theories of social power. As a result, the use of power is approached from two perspectives: (1) formal position-based authority and (2) informal power. Central elements of power were the mandate of the supervisory board, the role of the supervisory board, the supervisory board chair, the nomination committee, collaboration between the supervisory board and the board of directors, the role of regions and the role of the board of directors. The study contributes to the academic discussion on corporate governance in cooperatives and on the supervisory board in the context of the two-tier model. Additional research of the model in other countries and of other types of cooperatives would further academic understanding of supervisory boards.

Keywords: Board, cooperative, supervisory board, selection, director, power.

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Authors: Pulak Mishra, P V Kiran Kumar

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In the context of introduction of deregulatory policy measures and subsequent wave of mergers and acquisitions (M&A) in Indian corporate sector since 1991, the present paper attempts to examine the welfare implications of this wave. It is found that M&A do not have any significant impact on consumers- welfare. Instead, consumers- welfare is significantly influenced by exports intensity, imports intensity, advertising intensity, technology related efforts, and past profitability of the firms. While the industries with higher exports orientation or greater product differentiation or better financial performance experience greater loss in consumers- welfare, it is less in the industries with greater competition from imports or better technology. Hence, the wave of M&A in Indian manufacturing sector in the post-liberalization era may not be a matter of serious concern from consumers- welfare point of view. Instead, in many cases, M&A can help the firms in consolidating their business and enhancing competitiveness, and this may benefit the consumers in the form of greater efficiency and lower prices.

Keywords: Mergers, acquisitions, concentration, welfare, IndiaJEL CodesÔÇöL1, L2, L4, L5

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Authors: C. Ardil

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The purpose of this paper is to present fuzzy TOPSIS in an entropic fuzzy environment. Due to the ambiguous concepts often represented in decision data, exact values are insufficient to model real-life situations. In this paper, the rating of each alternative is defined in fuzzy linguistic terms, which can be expressed with triangular fuzzy numbers. The weight of each criterion is then derived from the decision matrix using the entropy weighting method. Next, a vertex method is proposed to calculate the distance between two triangular fuzzy numbers. According to the TOPSIS concept, a closeness coefficient is defined to determine the ranking order of all alternatives by simultaneously calculating the distances to both the fuzzy positive-ideal solution (FPIS) and the fuzzy negative-ideal solution (FNIS). Finally, an illustrative example of selecting stealth fighter aircraft is shown at the end of this article to highlight the procedure of the proposed method. Correlation analysis and validation analysis using TOPSIS, WSM, and WPM methods were performed to compare the ranking order of the alternatives.

Keywords: stealth fighter aircraft selection, fuzzy uncertainty theory (FUT), fuzzy entropic decision (FED), fuzzy linguistic variables, triangular fuzzy numbers, multiple criteria decision making analysis, MCDMA, TOPSIS, WSM, WPM

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Authors: Azmi Hamid, Rozainun Aziz

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The study aims to investigate the impact on board and audit committee characteristics and firm performance before and after the revision of MCCG (2007) on GLCs over the period 2005-2010. We used Return on Assets (ROA) as a proxy for firm performance. The data consists of two groups; data collected before and after the amendments of MCCG (2007). Findings show that boards of directors with accounting / finance qualifications (BEXP) are statistically significant with performance for period before the amendments. As for audit committee members with accounting or finance qualifications (ACEXP), correlation results indicate a negative association and non-significant results for the years before amendments. However, the years after the amendments show positive relationship with highly significant correlations (1%) to ROA. This indicates that the amendments of MCCG 2007 on the audit committee members- literacy in accounting have impacted the governance structures and performance of GLCs.

Keywords: BOD and Audit Committees, firm performance, GLCs.

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Authors: William H. O'Brien, Erin Bannon, M.A., Heather McCarren, Eileen Delaney

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Employees commonly encounter unpredictable and unavoidable work related stressors. Exposure to such stressors can evoke negative appraisals and associated adverse mental, physical, and behavioral responses. Because Acceptance and Commitment Therapy (ACT) emphasizes acceptance of unavoidable stressors and diffusion from negative appraisals, it may be particularly beneficial for work stress. Forty-five workers were randomly assigned to an ACT intervention for work stress (n = 21) or a waitlist control group (n = 24). The intervention consisted of two 3-hour sessions spaced one week apart. An examination of group process and outcomes was conducted using the Revised Sessions Rating Scale. Results indicated that the ACT participants reported that they perceived the intervention to be supportive, task focused, and without adverse therapist behaviors (e.g., feelings of being criticized or discounted). Additionally, the second session (values clarification and commitment to action) was perceived to be more supportive and task focused than the first session (mindfulness, defusion). Process ratings were correlated with outcomes. Results indicated that perceptions of therapy supportiveness and task focus were associated with reduced psychological distress and improved perceived physical health.

Keywords: Work stress, Acceptance and Commitment Therapy, therapy process.

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Authors: Alireza Shirvani, Shadi Ebrahimi Mehrabani

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In this competitive age, one of the key tools of most successful organizations is knowledge management. Today some organizations measure their current knowledge and use it as an indicator for rating the organization on their reports. Noting that the universities and colleges of medical science have a great role in public health of societies, their access to newest scientific research and the establishment of organizational knowledge management systems is very important. In order to explore the Application of Knowledge Management Factors, a national study was undertaken. The main purpose of this study was to find the rate of the application of knowledge management factors and some ways to establish more application of knowledge management system in Esfahan University-s Medical College (EUMC). Esfahan is the second largest city after Tehran, the capital city of Iran, and the EUMC is the biggest medical college in Esfahan. To rate the application of knowledge management, this study uses a quantitative research methodology based on Probst, Raub and Romhardt model of knowledge management. A group of 267 faculty members and staff of the EUMC were asked via questionnaire. Finding showed that the rate of the application of knowledge management factors in EUMC have been lower than average. As a result, an interview with ten faculty members conducted to find the guidelines to establish more applications of knowledge management system in EUMC.

Keywords: Knowledge, knowledge management, knowledge management factors.

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Authors: Hermann Kuehnle

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Applications of the Hausdorff space and its mappings into tangent spaces are outlined, including their fractal dimensions and self-similarities. The paper details this theory set up and further describes virtualizations and atomization of manufacturing processes. It demonstrates novel concurrency principles that will guide manufacturing processes and resources configurations. Moreover, varying levels of details may be produced by up folding and breaking down of newly introduced generic models. This choice of layered generic models for units and systems aspects along specific aspects allows research work in parallel to other disciplines with the same focus on all levels of detail. More credit and easier access are granted to outside disciplines for enriching manufacturing grounds. Specific mappings and the layers give hints for chances for interdisciplinary outcomes and may highlight more details for interoperability standards, as already worked on the international level. The new rules are described, which require additional properties concerning all involved entities for defining distributed decision cycles, again on the base of self-similarity. All properties are further detailed and assigned to a maturity scale, eventually displaying the smartness maturity of a total shopfloor or a factory. The paper contributes to the intensive ongoing discussion in the field of intelligent distributed manufacturing and promotes solid concepts for implementations of Cyber Physical Systems and the Internet of Things into manufacturing industry, like industry 4.0, as discussed in German-speaking countries.

Keywords: Autonomous unit, Networkability, Smart manufacturing unit, Virtualization.

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Authors: Saad Odeh

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Thermal performance is considered to be a key measure in building sustainability. One of the technologies used in the current building sustainable design is the rooftop solar PV power generators. The application of this type of technology has expanded vastly during the last five years in many countries. This paper studies the effect of roof shading developed by the solar PV panels on dwellings’ thermal performance. The analysis in this work is performed by using two types of packages: “AccuRate Sustainability” for rating the energy efficiency of residential building design, and “PVSYST” for the solar PV power system design. The former package is used to calculate the annual heating and cooling load, and the later package is used to evaluate the power production from the roof top PV system. The analysis correlates the electrical energy generated from the PV panels to the change in the heating and cooling load due to roof shading. Different roof orientation, roof inclination, roof insulation, as well as PV panel area are considered in this study. The analysis shows that the drop in energy efficiency due to the shaded area of the roof by PV panels is negligible compared to the energy generated by these panels.

Keywords: Energy efficiency, roof shading, thermal performance, PV panel.

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Authors: Ahmed Abdulghani Taha, Mohammad Abdulghani Taha

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This study aims at being acquainted with the using the body fat percentage (%BF) with body Mass Index (BMI) as input parameters in fuzzy logic decision support system to predict properly the lifted weight for students at weightlifting class lift according to his abilities instead of traditional manner. The sample included 53 male students (age = 21.38 ± 0.71 yrs, height (Hgt) = 173.17 ± 5.28 cm, body weight (BW) = 70.34 ± 7.87.6 kg, Body mass index (BMI) 23.42 ± 2.06 kg.m-2, fat mass (FM) = 9.96 ± 3.15 kg and fat percentage (% BF) = 13.98 ± 3.51 %.) experienced the weightlifting class as a credit and has variance at BW, Hgt and BMI and FM. BMI and % BF were taken as input parameters in FUZZY logic whereas the output parameter was the lifted weight (LW). There were statistical differences between LW values before and after using fuzzy logic (Diff 3.55± 2.21, P > 0.001). The percentages of the LW categories proposed by fuzzy logic were 3.77% of students to lift 1.0 fold of their bodies; 50.94% of students to lift 0.95 fold of their bodies; 33.96% of students to lift 0.9 fold of their bodies; 3.77% of students to lift 0.85 fold of their bodies and 7.55% of students to lift 0.8 fold of their bodies. The study concluded that the characteristic changes in body composition experienced by students when undergoing weightlifting could be utilized side by side with the Fuzzy logic decision support system to determine the proper workloads consistent with the abilities of students.

Keywords: Fuzzy logic, body mass index, body fat percentage, weightlifting.

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Authors: Aleksandar Chonevski

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The free-market economy provides many opportunities for entrepreneurship or starting one’s own business, attracting many students to study business at for-profit colleges in the United States. This is also true for international students, many of whom are filled with the hope of making a better life for themselves and their families through entrepreneurial endeavors. This qualitative research showed that not all graduates business students start their own business. In investigating this phenomenon, the effectiveness of entrepreneurship curricula at international colleges needs to be examined in order to adjust, improve and reform entrepreneurship curricula. This qualitative study will explore how business skills learned in college for-profit play a role in the entrepreneurial readiness of undergraduate business students in the south Florida. Business curricula helps international students achieve goals and transform their actions to understand challenges in a corporate society. Students will be interviewed to gain information about the students’ experience with entrepreneurship curricula in a for-profit college in south Florida.

Keywords: Business skills, college curriculum, entrepreneurial readiness, international students.

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Authors: Lara F. Horani, Shurong Tong

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Identification of customer requirements and their preferences are the starting points in the process of product design. Most of design methodologies focus on traditional requirements. But in the previous decade, the green products and the environment requirements have increasingly attracted the attention with the constant increase in the level of consumer awareness towards environmental problems (such as green-house effect, global warming, pollution and energy crisis, and waste management). Determining the importance weights for the customer requirements is an essential and crucial process. This paper used the analytic hierarchy process (AHP) approach to evaluate and rate the customer requirements for green products. With respect to the ultimate goal of customer satisfaction, surveys are conducted using a five-point scale analysis. With the help of this scale, one can derive the weight vectors. This approach can improve the imprecise ranking of customer requirements inherited from studies based on the conventional AHP. Furthermore, the AHP with extent analysis is simple and easy to implement to prioritize customer requirements. The research is based on collected data through a questionnaire survey conducted over a sample of 160 people belonging to different age, marital status, education and income groups in order to identify the customer preferences for green product requirements.

Keywords: Analytic hierarchy process, green product, customer requirements for green design, importance weights for the customer requirements.

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Authors: Petr Gurný

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One of the most important tasks in the risk management is the correct determination of probability of default (PD) of particular financial subjects. In this paper a possibility of determination of financial institution’s PD according to the creditscoring models is discussed. The paper is divided into the two parts. The first part is devoted to the estimation of the three different models (based on the linear discriminant analysis, logit regression and probit regression) from the sample of almost three hundred US commercial banks. Afterwards these models are compared and verified on the control sample with the view to choose the best one. The second part of the paper is aimed at the application of the chosen model on the portfolio of three key Czech banks to estimate their present financial stability. However, it is not less important to be able to estimate the evolution of PD in the future. For this reason, the second task in this paper is to estimate the probability distribution of the future PD for the Czech banks. So, there are sampled randomly the values of particular indicators and estimated the PDs’ distribution, while it’s assumed that the indicators are distributed according to the multidimensional subordinated Lévy model (Variance Gamma model and Normal Inverse Gaussian model, particularly). Although the obtained results show that all banks are relatively healthy, there is still high chance that “a financial crisis” will occur, at least in terms of probability. This is indicated by estimation of the various quantiles in the estimated distributions. Finally, it should be noted that the applicability of the estimated model (with respect to the used data) is limited to the recessionary phase of the financial market.

Keywords: Credit-scoring Models, Multidimensional Subordinated Lévy Model, Probability of Default.

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Authors: Jui-Liang Hsu

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The purpose of this study was to investigate the impact of the development of Szuchung Creek take for the cause of the critical success factors, This research is to use the depth interviews, document analysis and Modified-Delphi technique survey of nine depth interviews with experts and 14 experts of Modified-Delphi technique questionnaire and inviting as the research object, Szuchung Creek Hot Springs for the scope of the study. The results show, Szuchung Creek Hot Springs development take for career success factors for the following reasons: 1. Government. 2. Opportunities. 3. Factors of production. 4. Demand conditions. 5. Corporate structure and the degree of competition. 6. Related and supporting industries. Furthermore, Szuchung Creek hot springs, itself already has a number of critical success factors. Contingent less than or inadequacies by Szuchung Creek take for the enterprise development to take for the cause of the critical success factors as the basis for correcting, planning out for local use improvement strategies to achieve the objective of sustainable management.

Keywords: Hot spring industry, Critical Success Fators, Szuchung Creek, Take for the enterprise, Modified-Delphi technique, Hot Spring Areas.

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Authors: Aqsa Akbar, Waheed Akhter

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Job stress is one of the most important concepts for the today-s corporate as well as institutional world. The current study is conducted to identify the causes of faculty stress at Higher Education in Pakistan. For the purpose, Public & Private Business Schools of Punjab is selected as representative of Pakistan. A sample of 300 faculty members (214 males, 86 females) responded to the survey. Regression analysis shows that the Workload, Student Related issues and Role Conflicts are the major sources contributing significantly towards producing stress. The study also revealed that Private sector faculty members experienced more stress as compared to faculty in Public sector Business Schools. Moreover, females, younger ages, lower designation & low qualification faculty members experience more stress as compared to males, older ages, higher designation and high qualification. The study yield many significant results for the policy makers of Business Institutions.

Keywords: Faculty Stress, Higher Education, Stress Coping Strategies, Work Load

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Authors: R. Pastusiak, M. Jasiniak, A. Kaźmierska

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The impact of Special Economic Zones (SEZs) has been analyzed for many years by researchers. There are lot of theoretical studies proving the SEZs importance for regional development, however, there is lack of empirical studies (and they are mainly focused on China market) that are based on available data. The theoretical studies indicate the various impacts of enterprises operating within SEZs on the economy. The article proves that, in case of Poland, locating SEZs in municipalities is an important part of increasing municipalities’ income. Therefore SEZs have a positive impact on regional development. Municipality income is understood as taxes paid by taxpayers who depend on SEZ companies’ performance. The analysis includes the Corporate Income Tax (CIT), Personal Income Tax (PIT) and real estate tax. The effects of SEZs on regional development were narrowed to a few variables that are most significant for the financial system. The analysis indicates the significant impact of SEZs on the amount of taxes influencing the municipality budget.

Keywords: Government, local finance, municipal finance, Special Economic Zones.

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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: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, N. Damenia

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Current state of foreign direct investment (FDI) in Georgia is analyzed and evaluated in the paper, the existing legislative background for regulating investments and stimulating policies to attract investments are shown. It is noted that in developing countries encouragement of investment activity, support and implementation are of the most important tasks, implying a consistent investment policy, investor-friendly tax regime and the legal system, reducing administrative barriers and restrictions, fare competitive conditions and business development infrastructure. The work deals with the determining factor of FDIs and the main directions of stimulation, as well as prospective industries where new investments are needed. Contributing and hindering factors and stimulating measures are analyzed. As a result of the research, the direct and indirect factors attracting FDI have been identified. Facilitating factors to FDI inflow are as follows: simplicity of starting business, geopolitical location, low taxes, access to credit, ease of ownership registration, natural resources, low burden of regulations, low level of corruption and low crime rates. Hindering factors to FDI inflow are as follows: small market, lack of policy for attracting investments, low qualification of the workforce (despite the large number of unemployed people it is difficult to find workers with necessary special skills and qualifications), high interest rates, instability of national currency exchange rate, presence of conflict zones within the country and so forth.

Keywords: Foreign direct investment, investment attracting policies, investor, reinvestment.

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Authors: Ifedapo Francis Awolowo

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The unrelenting series of embarrassing audit failures should stimulate a paradigm shift in accounting. And in this age of information revolution, there is need for a constant improvement on the products or services one offers to the market in order to be relevant. This study explores the perceptions of external auditors, forensic accountants and accounting academics on whether a paradigm shift to forensic accounting can reduce financial statement frauds. Through Neo-empiricism/inductive analytical approach, findings reveal that a paradigm shift to forensic accounting might be the right step in the right direction in order to increase the chances of fraud prevention and detection in the financial statement. This research has implication on accounting education on the need to incorporate forensic accounting into present day accounting curriculum. Accounting professional bodies, accounting standard setters and accounting firms all have roles to play in incorporating forensic accounting education into accounting curriculum. Particularly, there is need to alter the ISA 240 to make the prevention and detection of frauds the responsibilities of bot those charged with the management and governance of companies and statutory auditors.

Keywords: Financial statement fraud, forensic accounting, fraud prevention and detection, auditing, audit expectation gap, corporate governance.

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Authors: Feng-Tsung Cheng, Shu-Li Wang, Mei-Fang Wu, Hui-Yu Chuang

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The rapid development technology and widespread Internet make business environment changing a lot. In order to stand in the global market and to keep subsistence, “changing” is unspoken rule for the company’s survival. The purpose of this paper is building up change model by using SWOT, strategy map, KPI and change management theory. The research findings indicate that the company needs to deal with employee’s resistance emotion firstly before building up change model. The ways of providing performance appraisal reward, consulting and counseling mechanisms that will great help to achieve reducing staff negative emotions and motivate staff’s efficiencies also. To revise strategy map, modify corporate culture, and improve internal operational processes which is based on change model. Through the change model, the increasing growth rate of net income helps company to achieve the goals and be a leading brand of precision machinery industry.

Keywords: Organizational change, SWOT analysis, strategy maps, performance indicators.

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Authors: Ekesa B. Nakhauka, De Lange M., Macharia I., Garming H., Ouma E., Birachi E., Van Asten P., Van-Lauwe B., Blomme G.

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Impact of adopting products promoted by the Consortium for Improving Agriculture-based livelihoods in Central Africa (CIALCA) on food and nutrition security was tested. Multi-stage sampling was used to select 7 project mandate areas, 5 villages/mandate area (stratified into action, satellite and control sites) and 913 households. Structured questionnaires were administered; analysis of impact based on comparison between stratums, differences in means tested by ANOVA and significance of difference obtained by Tukey's HSD multiple rank tests. Perception of adequate food sufficiency received a higher rating in action and satellite sites compared to control sites reason being improved agricultural technologies. For >60% of households, worsened food security was due to climatic conditions. Although a higher proportion of households in action and satellite was meeting calorie RDIs in DRC and Burundi the difference was insignificant from control sites. 53% of respondents in control sites indicated a decrease in intake of protein rich foods, this was significantly higher than the proportion in the action (46%) and satellite (41%) sites.

Keywords: Food security, Farmer-households, Nutrition security

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

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After the accounting scandals and the financial crisis, regulators have stressed the need for more financial experts on boards. Several studies conducted in countries with developed capital markets report positive effects of board financial competencies. As each country offers a different context and specific institutional factors this paper addresses the subject in the context of Romania. The Romanian capital market offers an interesting research field because of the heterogeneity of listed firms. After analyzing board members education based on public information posted on listed companies websites and their annual reports we found a positive association between the proportion of board members holding a postgraduate degree in financial fields and market based performance measured by Tobin q. We found also that the proportion of Board members holding degrees in financial fields is higher in bigger firms and firms with more concentrated ownership.

Keywords: financial education, corporate governance, board

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Authors: Teryima Oralu, Babatunde Kasim Oladele

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This paper looks at the management and funding of education in Nigeria. The concept of management and administration has been concisely defined. Also the historical background of educational management in Nigeria has been discussed alongside the management of primary education, secondary education and tertiary education in Nigeria. Furthermore, the funding of education has also been concisely discussed in this paper alongside the various sources of funds available to education in Nigeria. The sources include government grant, school fees, external aids, school revenue yielding businesses and so on. The budgetary allocation of Nigeria to education from 1999 to 2013 was also highlighted in this in paper and it was discovered that the lowest allocation was in 1999 with 4.46% while the highest allocation was in 2006 with 10.43%. It is also of note that, Nigeria is still yet to meet the recommendation of UNESCO of 26% budgetary allocation to education by developing countries. Recommendations have been drawn that the government should increase budgetary allocation to this sector in a consistent manner because of its importance to the national economy, hoping that with proper monitoring of fund, it would contribute more significantly to the development of the country. An effective utilization of such funds is also advocated for greater achievements. All organs of the government should exhibit good corporate governance and transparency and so on.

Keywords: Education, funding, management, Nigeria.

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Authors: Nicoletta Adamo-Villani

Abstract:

In this paper we report a study aimed at determining the most effective animation technique for representing ASL (American Sign Language) finger-spelling. Specifically, in the study we compare two commonly used 3D computer animation methods (keyframe animation and motion capture) in order to ascertain which technique produces the most 'accurate', 'readable', and 'close to actual signing' (i.e. realistic) rendering of ASL finger-spelling. To accomplish this goal we have developed 20 animated clips of fingerspelled words and we have designed an experiment consisting of a web survey with rating questions. 71 subjects ages 19-45 participated in the study. Results showed that recognition of the words was correlated with the method used to animate the signs. In particular, keyframe technique produced the most accurate representation of the signs (i.e., participants were more likely to identify the words correctly in keyframed sequences rather than in motion captured ones). Further, findings showed that the animation method had an effect on the reported scores for readability and closeness to actual signing; the estimated marginal mean readability and closeness was greater for keyframed signs than for motion captured signs. To our knowledge, this is the first study aimed at measuring and comparing accuracy, readability and realism of ASL animations produced with different techniques.

Keywords: 3D Animation, American Sign Language, DeafEducation, Motion Capture.

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Authors: Irfah Najihah Basir Malan, Norhana Salamudin, Noryati Ahmad

Abstract:

Corporate ownership structure is an important factor influencing firm performance. This study aims to answer the question whether pyramid structure has negative effect on firm value. This study is important because the ownership of public listed companies in Malaysia is highly concentrated. The concentrated ownership such as Malaysia, agency conflict is prevalent between controlling shareholders and minority shareholders. Accordingly, the dominant role of shareholders in firms allows the controlling shareholders (including managers) to expropriate the interest of the minority shareholders for their own private advantage. This research is conducted on pyramidal firms in Malaysia. Applying the Attig Model as the underlying statistical test, it is found that firm value is negatively related to pyramid ownership of Malaysian public listed firms due to the mismatch between cash flow rights and control rights. Future research needs to focus on identifying the heterogeneous factors that improve the generalizability of research.

Keywords: Pyramid structure, Cash flow right, Control right, Firm value, Attig model.

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Authors: Chua Bee Seok, Rosnah Ismail, Jasmine Adela Mutang, Shaziah Iqbal, Nur Farhana Ardillah Aftar, Alfred Chan Huan Zhi, Ferlis Bin Bahari, Lailawati Madlan, Hon Kai Yee

Abstract:

The present study aims to explore the role of parents' ethnic socialization practices contributes to the ethnic identity development, self-esteem and psychological adjustment of multi ethnic children in Sabah, Malaysia. A total of 342 multi ethnic children (age range = 10 years old to 14 years old; mean age = 12.65 years, SD = 0.88) and their parents participated in the present study. The modified version of Multi group Ethnic Identity Measure (MEIM), The Familial Ethnic Socialization Measure (FESM). The Rosenberg Self-Esteem Scale (RSE) and Behavioral and Emotional Rating Scale Edition 2 (BERS-2) were used in this study. The results showed that: i) parents' ethnic socialization practice was a strong predictor of ethnic identity development of multi ethnic children; ii) parents' ethnic socialization practice also was a significant predictor of self-esteem of multi ethnic children; iii) parents' ethnic socialization practice was not a significant predictor of psychological adjustment of multi ethnic children. The results of this study showed the implications parents' ethnic socialization practices and ethnic identity development in successful multi ethnic families.

Keywords: Ethnic Identity development, multi ethnic children Parents' Ethnic Socialization Practices, psychological adjustment, self-esteem.

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