Search results for: Cost of governance

Authors: Asaiel Alohaly

Abstract:

A theoretical framework for corporate governance is needed to bridge the gap between the corporate governance of private companies and State-Owned Enterprises (SOEs). The two dominant models, being shareholder and stakeholder, do not always address the specific requirements and challenges posed by ‘hybrid’ companies; namely, previously national bodies that have been privatised while the government retains significant control or holds a majority of shares. Thus, an exploratory theoretical study is needed to identify how ‘hybrid’ companies should be defined and why the state model should be acknowledged since it is the less conspicuous model in comparison with the shareholder and stakeholder models. This research focuses on the state model of corporate governance to understand the complex ownership, control pattern, goals, and corporate governance of these hybrid companies. The significance of this research lies in the fact that there is a limited available publication on the state model. This research argues for the state model, which proceeds from an understanding of the institutionally embedded characteristics of hybrid companies, where the government as a shareholder, is either a majority of the total shares, or has been granted power based on the rule of law; the company bylaws.

Keywords: Corporate governance, control, shareholders, state model.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1206

Authors: Ondruska Marek, Matustik Ondrej

Abstract:

The main goal of the article is to present new model of application architecture of banking IT solution providing the Internet Banking services that is particularly outsourced. At first, we propose business rationale and a SWOT analysis to explain the reasons for the model in the article. The most important factor for our model is nowadays- big boom around smart phones and tablet devices. As next, we focus on IT architecture viewpoint where we design application, integration and security model. Finally, we propose a generic governance model that serves as a basis for the specialized governance model. The specialized instance of governance model is designed to ensure that the development and the maintenance of different parts of the IT solution are well governed in time.

Keywords: governance model, front-end application, Internet Banking, smart phones

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1711

Authors: Ian Kree, Davina Chin Lee Yien

Abstract:

This paper presents Cost per Equivalent Wafer Out, which we find useful in wafer fab operational cost monitoring and controlling. It removes the loading and product mix effect in the cost variance analysis. The operation heads, therefore, could immediately focus on identifying areas for cost improvement. Without this, they would have to measure the impact of the loading variance and product mix variance between actual and budgeted prior to make any decision on cost improvement. Cost per Equivalent Wafer Out, thereby, increases efficiency in wafer fab operational cost monitoring and controlling.

Keywords: Cost Control, Cost Variance, Operational Expenditure, Semiconductor.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2360

Authors: Mohamed Moustafa Soliman, Mohamed Abd Elsalam

Abstract:

Recent financial international scandals around the world have led to a number of investigations into the effectiveness of corporate governance practices and audit quality. Although evidence of corporate governance practices and audit quality exists from developed economies, very scanty studies have been conducted in Egypt where corporate governance is just evolving. Therefore, this study provides evidence on the effectiveness of corporate governance practices and audit quality from a developing country. The data for analysis are gathered from the top 50 most active companies in the Egyptian Stock Exchange, covering the three year period 2007-2009. Logistic regression was used in investigating the questions that were raised in the study. Findings from the study show that board independence; CEO duality and audit committees significantly have relationship with audit quality. The results also, indicate that institutional investor and managerial ownership have no significantly relationship with audit quality. Evidence also exist that size of the company; complexity and business leverage are important factors in audit quality for companies quoted on the Egypt Stock Exchange.

Keywords: Corporate governance, Boards of directors, corporate ownership, Audit Committees, Audit quality, and Egypt.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3871

Authors: Rurui (Angelina) Liu

Abstract:

Universities have been one of the most important institutions in society. They shoulder the responsibility to do research and teach further generations. Therefore, the governance of universities has been a heated topic and has been learned for years. Recently, it witnessed great changes, for example, the massification of Higher Education (HE), marketization, and privatization. As a result, more stakeholders are involved in the governance of HE, among which students’ participation in HE becomes more important. However, the research about students’ participation in HE governance in China is not sufficient, and the situation requires improvement. The paper aims to not only fill in the research gap but also put forward practical suggestions to follow the world’s trend of HE governance. The methodology of this paper is literature analysis with comparative studies between China and western countries. The research points out that the current situation of students’ participation in HE governance is unideal due to problems in three fields, values and concepts, mechanisms and systems, as well as student unions. Then, the policy implications are based on these reasons: universities should highlight students’ status, respect their subjectivity and adhere to the service awareness; the government requires to build a sound legal system while universities should establish complete mechanisms and systems; student unions should be encouraged by universities to take part in HE governance affairs with sufficient funds, and autonomy. On the one hand, this paper is a further application of four rationales (consumerism, political-realism, communitarian, democracy, and consequentialism) created by Luescher‐Mamashela for the inevitable trend of students’ participation in HE governance. On the other hand, the suggestions it made benefit the students, universities, and society in practical ways.

Keywords: Students’ participation, higher education governance, Chinese higher education, university power.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 477

Authors: Reza Lotfalian, Sudarshan Martins, Peter Radziszewski

Abstract:

The effect of reliability on life-cycle cost, including initial and maintenance cost of a system is studied. The failure probability of a component is used to calculate the average maintenance cost during the operation cycle of the component. The standard deviation of the life-cycle cost is also calculated as an error measure for the average life-cycle cost. As a numerical example, the model is used to study the average life-cycle cost of an electric motor.

Keywords: Initial Cost, Life-cycle cost, Maintenance Cost, Reliability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2170

Authors: Kolis Karel, Kubicek Ales

Abstract:

The purpose of this paper is to explore the relationship between the customers- issues in company corporate governance and the financial performance. At the beginning theoretical background consisting stakeholder theory and corporate governance is presented. On this theoretical background, the empirical research is built, collecting data of 60 Czech joint stock companies- boards considering their relationships with customers. Correlation analysis and multivariate regression analysis were employed to test the sample on two hypotheses. The weak positive correlation between stakeholder approach and the company size was identified. But both hypotheses were not supported, because there was no significant relation of independent variables to financial performance.

Keywords: customers, stakeholder theory, corporate governance, financial performance

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4625

Authors: Ondřej Nowak

Abstract:

This paper presents an exploration into the structure of the corporate governance network and interlocking directorates in the Czech Republic. First a literature overview and a basic terminology of the network theory is presented. Further in the text, statistics and other calculations relevant to corporate governance networks are presented. For this purpose an empirical data set consisting of 2 906 joint stock companies in the Czech Republic was examined. Industries with the highest average number of interlocks per company were healthcare, and energy and utilities. There is no observable link between the financial performance of the company and the number of its interlocks. Also interlocks with financial companies are very rare.

Keywords: Corporate Governance, Interlocking Directorates, Network Theory, Czech Republic.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1530

Authors: Behnaz Mohajeran, Alireza Ghaleei

Abstract:

This main purpose of the study reported here was to investigate the extent to which the form of school governance (particularly decision-making) had an impact upon the effectiveness of the school with reference to parental involvement, planning and budgeting, professional development of teachers, school facilities and resources, and student outcomes. Particular attention was given to decision-making within the governance arrangements. The study was based on four case studies of high schools in New South Wales, Australia including one government school, one independent Christian community school, one independent Catholic school, and one Catholic systemic school. The focus of the research was principals, teachers, parents, and students of four schools with varying governance structures. To gain a greater insight into the issues, the researchers collected information by questionnaire, semi-structured interview, and review of school key documents. This study found that it was not so much structure but the centrality of the school Principal and the way that the Principal perceived his/her roles in relation to others that impacted most on school governance.

Keywords: governance structure, principal role, schooleffectiveness, stakeholder involvement

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2716

Authors: Tiantian Gu, Dezhi Li, Mian Zhang, Ying Jiang

Abstract:

Considering the characteristics of residents’ participation in the governance of old community renewal (OCR), a theoretical model of the determinant of residents’ intention to participate in the governance of OCR has been built based on the theory of planned behavior. Seven old communities in Nanjing have been chosen as cases to conduct empirical analysis. The result indicates that participation attitude, subjective norm and perceived behavioral control have significant positive effects on residents’ intention to participate in the governance of the OCR. Recognition of the community, cognition of the OCR and perceived behavioral control have indirect positive effects on residents’ intention to participate in the OCR. In addition, the education level and the length of residence have positive effects on their participation intention, while the gender, age, and monthly income have little effect on it. The research result provides suggestions for the improvement of residents’ participation in the OCR.

Keywords: Old community renewal, residents’ participation in governance, intention, theory of planned behavior.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 662

Authors: Chiung-Ju Huang

Abstract:

This study utilizes the quantile regression analysis to examine the impact of governance (including democratic quality and technical quality) on happiness in 101 countries worldwide, classified as “developed countries” and “developing countries”. The empirical results show that the impact of democratic quality and technical quality on happiness is significantly positive for “developed countries”, while is insignificant for “developing countries”. The results suggest that the authorities in developed countries can enhance the level of individual happiness by means of improving the democracy quality and technical quality. However, for developing countries, promoting the quality of governance in order to enhance the level of happiness may not be effective. Policy makers in developed countries may pay more attention on increasing real GDP per capita instead of promoting the quality of governance to enhance individual happiness.

Keywords: Governance, happiness, multiple regression, quantile regression.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1650

Authors: Raif Parlakkaya, Umran Kahraman, Huseyin Cetin

Abstract:

Internet financial reporting and corporate governance issues are in the focus of academic and professional studies due to their attributed importance by stakeholders of corporations. Major aim of this study is to reveal the relationship between internet financial reporting which is held as dependent variable and some indicators of corporate governance such as the ratio of managerial ownership, blockholder ownership, number of independent members in the board of directors, frequency of meetings by audit committee and education level of audit committee members which are held as independent variables. Main purpose is to reveal the effect of corporate governance on the voluntary efforts of Internet Financial reporting. The scope of the research is limited to the Turkish Corporations listed in Borsa Istanbul (Istanbul Stock Exchange) and findings which are generated by means of SPSS software are revealed in results section and interpreted in conclusions.

Keywords: Audit Committee, Corporate Governance, Internet Financial Reporting, Managerial Ownership.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3173

Authors: Azaz Zaman, Imtiaz Uddin Chowdhury, Mohammad Shariful Islam

Abstract:

Corporate governance has become a crucial issue in both the business and academic world as a result of world-wide financial scandals and lack of trust in corporate practices. There is no doubt that in order to thrive and attain growth in the market, a company must earn the trust of its stakeholders by consistently delivering on its commitments. Directors of the companies thus comprehend the importance of upfront communication with relevant stakeholders to increase their confidence. The authors of this article argue that practicing good corporate governance is not enough in this highly competitive market place; corporate leaders need to market their good corporate governance practices in order to make the company more attractive to investors. This article also contends that the strength of corporate governance relies wholly upon the extent to which it is communicated simply, effectively and unceasingly to its stakeholders. The main objective of this study, therefore, is to explore the importance of branding good corporate governance in order to increase corporate brand equity, attract investors, and capture market share. A structured questionnaire comprising three sections and a total of 34 questions was prepared and surveyed by the authors among respondents residing in Bangladesh and who also have an academic and corporate background, to investigate the potential impact of branding good corporate governance in the market place. High mean values for individual questions and overall section depict that communicating and branding good corporate governance to the stakeholders will not only boost the investors’ confidence but also increase the corporate brand equity, yielding both profitable and sustainable business environment.

Keywords: Brand equity, investors’ preference, good corporate governance, sustainable business environment.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1190

Authors: Nariman O. Kandil, Ehab K. Abou-Elkheir, Amr M. Kotb

Abstract:

Effective IT governance guarantees the strategic alignment of IT and business goals, risk mitigation control, and better IT and business performance. This study seeks to examine empirically the extent of IT governance implementation within the firms listed on the Egyptian Stock Exchange (EGX30) and its determinants. Accordingly, 18 semi-structured interviews, face to face, phone, and video-conferencing, using various tools (e.g., WebEx, Zoom, and Microsoft Teams) were undertaken at the interviewees’ offices in Egypt between the end of November 2019 and the end of August 2020. Results suggest that there are variances in the extent of IT Governance (ITG) implementation within the firms listed on the EGX30, mainly caused by the industry type and internal and external triggers. The results also suggest that the organization size, the type of auditor, the criticality of the industry, the effective processes & key performance indicators (KPIs), and the information intensity expertise of the chief information officers (CIOs) have a significant impact on ITG implementation within the firms.

Keywords: Effective IT governance, Egyptian Market, information security, risk controls.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 119

Authors: Remzi Saltoglu, Nazmia Humaira, Gokhan Inalhan

Abstract:

During aircraft maintenance scheduling, operator calculates the budget of the maintenance. Usually, this calculation includes only the costs that are directly related to the maintenance process such as cost of labor, material, and equipment. In some cases, overhead cost is also included. However, in some of those, downtime cost is neglected claiming that grounding is a natural fact of maintenance; therefore, it is not considered as part of the analytical decision-making process. Based on the normalized data, we introduce downtime cost with its monetary value and add its seasonal character. We envision that the rest of the model, which works together with the downtime cost, could be checked with the real life cases, through the review of MRO cost and airline spending in the particular and scheduled maintenance events.

Keywords: Aircraft maintenance, downtime, downtime cost, maintenance cost.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4339

Authors: Nurul Zahirah M.A., N. Zainul Abidin

Abstract:

Green buildings have been commonly cited to be more expensive than conventional buildings. However, limited research has been conducted to clearly identify elements that contribute to this cost differential. The construction cost of buildings can be typically divided into “hard" costs and “soft" cost elements. Using a review analysis of existing literature, the study identified six main elements in green buildings that contribute to the general cost elements that are “soft" in nature. The six elements found are insurance, developer-s experience, design cost, certification, commissioning and energy modeling. Out of the six elements, most literatures have highlighted the increase in design cost for green design as compared to conventional design due to additional architectural and engineering costs, eco-charettes, extra design time, and the further need for a green consultant. The study concluded that these elements of soft cost contribute to the green premium or cost differential of green buildings.

Keywords: Green building, cost differential, soft cost, intangible cost.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2710

Authors: Rosida Ab. Razak, Mohamad Shanudin Zakaria

Abstract:

The fundamental issues in ICT Governance (ICTG) implementation for Malaysian Public Sector (MPS) is how ICT be applied to support improvements in productivity, management effectiveness and the quality of services offered to its citizens. Our main concern is to develop and adopt a common definition and framework to illustrate how ICTG can be used to better align ICT with government’s operations and strategic focus. In particular, we want to identify and categorize factors that drive a successful ICTG process. This paper presents the results of an exploratory study to identify, validate and refine such Critical Success Factors (CSFs) and confirmed seven CSFs and nineteen sub-factors as influential factors that fit MPS after further validated and refined. The Delphi method applied in validation and refining process before being endorsed as appropriate for MPS. The identified CSFs reflect the focus areas that need to be considered strategically to strengthen ICT Governance implementation and ensure business success.

Keywords: IT Governance, Critical Success Factors.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3926

Authors: Heung Jae Cho, Jae Il Park

Abstract:

This paper presents the development of an MODAPTS based cost estimating system to help designers in estimating the manufacturing cost of a assembly products which is belonged from the workers in working fields. Competitiveness of manufacturing cost is getting harder because of the development of Information and telecommunication, but also globalization. Therefore, the accuracy of the assembly cost estimation is getting important. DFA and MODAPTS is useful method for measuring the working hour. But these two methods are used just as a timetable. Therefore, in this paper, we suggest the process of measuring the working hours by MODAPTS which includes the working field-s accurate information. In addition, we adduce the estimation method of accuracy assembly cost with the real information. This research could be useful for designers that can estimate the assembly cost more accurately, and also effective for the companies that which are concerned to reduce the product cost.

Keywords: Cost estimation, DFA, MODAPTS, Assembly cost

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3931

Authors: Lalla Nezha Lakmiti, Abdelkahar Zahid

Abstract:

Due to the setbacks on the international scene and the wave of cacophonic financial scandals affecting large international groups, the new Islamic finance industry is not immune despite its initial resistance. The purpose of this paper is to understand and analyze the meaning of the Corporate Governance (CG) concept in Moroccan Islamic banking systems with specific reference to their institutions. The research objective is to identify also the path taken and adopted by these banks recently set up in Morocco. The foundation is rooted in shari'a, in particular, no stakeholder (the shareholding approach) must be harmed, and the ethical value is reflected into these parties’ behavior. We chose a qualitative method, semi-structured interviews where six managers provided answers about their banking systems. Since these respondents held a senior position (directors) within their organizations, it is felt that they are well placed and have the necessary knowledge to provide us with information to answer the questions asked. The results identified the orientation of participating banks and assessing how governance works, while determining which party is fovoured: shareholders, stakeholders or both. This study discusses the favorable condition to the harmonization of the regulations and therefore a better integration between Islamic finance and conventional ones in the economic context of Morocco.

Keywords: Corporate governance, participating banks, stakeholders, shareholders, and interests.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 835

Authors: O. J. Olaniran, P. E. D. Love, D. J. Edwards, O. Olatunji, J. Matthews

Abstract:

Cost overruns are a persistent problem in oil and gas megaprojects. Whilst the extant literature is filled with studies on incidents and causes of cost overruns, underlying theories to explain their emergence in oil and gas megaprojects are few. Yet, a way to contain the syndrome of cost overruns is to understand the bases of ‘how and why’ they occur. Such knowledge will also help to develop pragmatic techniques for better overall management of oil and gas megaprojects. The aim of this paper is to explain the development of cost overruns in hydrocarbon megaprojects through the perspective of chaos theory. The underlying principles of chaos theory and its implications for cost overruns are examined and practical recommendations proposed. In addition, directions for future research in this fertile area provided.

Keywords: Chaos theory, oil and gas, cost overruns, megaprojects.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2296

Authors: Nazirah Zainul Abidin, Nurul Zahirah Mokhtar Azizi

Abstract:

Cost has always been the leading concern in green building development. The perception that construction cost for green building is higher than conventional buildings has only made the discussion of green building cost more difficult. Understanding the factors that will influence the cost of green construction is expected to shed light into what makes green construction more or at par with conventional projects, or perhaps, where cost can be optimised. This paper identifies the elements of cost before shifting the attention to the influencing factors. Findings from past studies uncovered various factors related to cost which are grouped into five focal themes i.e. awareness, knowledge, financial, technical, and government support. A conceptual framework is produced in a form of a flower diagram indicating the cost influencing factors of green building development. These factors were found to be both physical and non-physical aspects of a project. The framework provides ground for the next stage of research that is to further explore how these factors influence the project cost and decision making.

Keywords: Green project, factors influencing cost, hard cost, soft cost.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1434

Authors: Nikoloudi Anastasia, Tsalampouni Aikaterini

Abstract:

The present paper aims to present the significant role that the concept of governance can play in order to combine naturals resources as useful funding basis for the formation of a stable and effective welfare state model. The combination of those two different fields aims to represent the modern trends of our era as the means to solve the severe financial and economic issues caused mostly due to the malfunction of the welfare state and its public sector. European Union and Asian countries (especially China) are the main areas of interest since EU experiences a fiscal and economic crisis while China rules the area of the natural resources exploiting 97% of rare earths elements worldwide.

Keywords: Governance, natural resources, rare earths elements, welfare state.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2021

Authors: Francesco Venuti, Simona Alfiero

Abstract:

The aim of this paper is to develop an empirical research on the nature and consequences of corporate governance on Eurozone Insurance Industry risk taking attitude. More particularly, we analyzed the effect of public ownership on risk taking with respect to privately held Insurance Companies. We also analyzed the effects on risk taking attitude of different degrees of ownership concentration, directors compensation, and the dimension/diversity of the Board of Directors. Our results provide quite strong evidence that, coherently with the Agency Theory, publicly traded insurance companies with more concentrated ownership are less risky than the corresponding privately held.

Keywords: Agency theory, corporate governance, insurance companies, risk taking.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2816

Authors: Nurul Zahirah M.A., N. Zainul Abidin, Azlan Raofuddin Nuruddin

Abstract:

Despite all the hype about green building, many developers are still resistant to the idea of building green due to the common perception that green building construction is expensive. This contradicts with scholarly findings that identify only a marginal cost premium or none at all given that green design is considered during the design process and planning stage. Nevertheless, cost implications continue to become an issue when deciding to build green. The planning stage is of strategic importance as decisions made at this early stage would influence the project cost thereafter. Using analysis of existing literature, the paper identifies six elements of soft cost that are considered in the planning stage. The elements include consultants, green building consultant, certification, commissioning, market, and tax. Out of the six elements, commissioning represents the bulk of soft cost for buildings seeking green certification. The study concluded that, although hard cost may have a bigger impact on the project cost, but soft cost is the hidden cost which people tend to ignore. Poor consideration of soft cost during planning stage may lead to over-realistic expectations and ultimately, overlooked cost additions.

Keywords: Green building, cost element, soft cost, developer decision.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1932

Authors: Tim Nedyalkov

Abstract:

A business decision to move to the cloud brings fundamental changes in how an organization develops and delivers its Information Technology solutions. The accelerated pace of digital transformation across businesses and government agencies increases the reliance on cloud-based services. Collecting, managing, and retaining large amounts of data in cloud environments make information security and data privacy protection essential. It becomes even more important to understand what key factors drive successful cloud adoption following the commencement of the Privacy Amendment Notifiable Data Breaches (NDB) Act 2017 in Australia as the regulatory changes impact many organizations and industries. This quantitative correlational research investigated the governance, risk management, and compliance factors contributing to cloud security success. The factors influence the adoption of cloud computing within an organizational context after the commencement of the NDB scheme. The results and findings demonstrated that corporate information security policies, data storage location, management understanding of data governance responsibilities, and regular compliance assessments are the factors influencing cloud computing adoption. The research has implications for organizations, future researchers, practitioners, policymakers, and cloud computing providers to meet the rapidly changing regulatory and compliance requirements.

Keywords: Cloud compliance, cloud security, cloud security governance, data governance, privacy protection.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 838

Authors: A. Eman Mohammed

Abstract:

Algae-based fuel are considered a promising sources of clean energy, and because it has many advantages over traditional biofuel, research and business ventures have driven into developing and producing Algal-biofuel. But its production stages create a cost structure that it is not competitive with traditional fuels. Therefore, cost becomes the main obstacle in commercial production purpose. However, the present research which aims at using cost structure model, and designed MS-Dose program, to investigate the a mount of production cost and determined the parameter had great effect on it, second to measured the amount of contribution rate of algae in process the pollution by capturing Co2 from air . The result generated from the model shows that the production cost of biomass is between $0.137 /kg for 100 ha and $0.132 /kg for 500 ha which was less than cost of other studies, while gallon costs between $3.4 - 3.5, more than traditional sources of oil about $1 ,which regarded as a rate of contribution of algal in capturing CO2 from air.

Keywords: Cost Structure Model, Operation Costs(Production Cost), Capital Costs, Algae.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1975

Authors: Boukelkoul Lahcen

Abstract:

The cumulative costs for O&M may represent as much as 65%-90% of the turbine's investment cost. Nowadays the cost effectiveness concept becomes a decision-making and technology evaluation metric. The cost of energy metric accounts for the effect replacement cost and unscheduled maintenance cost parameters. One key of the proposed approach is the idea of maintaining the WTs which can be captured via use of a finite state Markov chain. Such a model can be embedded within a probabilistic operation and maintenance simulation reflecting the action to be done. In this paper, an approach of estimating the cost of O&M is presented. The finite state Markov model is used for decision problems with number of determined periods (life cycle) to predict the cost according to various options of maintenance.

Keywords: Cost, finite state, Markov model, operation, maintenance.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1432

Authors: Mujeeb Saif Mohsen Al-Absy, Ku Nor Izah Ku Ismail, Sitraselvi Chandren

Abstract:

This study examines whether corporate governance (CG) mechanisms in firms that have a whistle-blowing policy (WHBLP) are more effective in constraining earnings management (EM), than those without. A sample of 288 Malaysian firms for the years 2013 to 2015, amounting to 864 firm-years were grouped into firms with and without WHBLP. Results show that for firms without WHBLP, the board chairman tenure would minimize EM activities. Meanwhile, for firms with WHBLP, board chairman independence, board chairman tenure, audit committee size, audit committee meeting and women in the audit committees are found to be associated with less EM activities. Further, it is found that ownership concentration and Big 4 auditing firms help to reduce EM activities in firms with WHBLP, while not in firms without WHBLP. Hence, functional and effective governance can be achieved by having a WHBLP, which is in line with agency and resource dependent theories. Therefore, this study suggests that firms should have a WHBLP in place, and policymakers should come up with enhanced criteria to strengthen the mechanisms of WHBLP.

Keywords: Corporate governance, earnings management, whistle-blowing policy, audit committee, board of directors.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1200

Authors: Venugopal Kummamuru

Abstract:

Corporate Governance (CG) is of utmost importance for running a company ethically. It is essential for the growth and success of the corporation. It is intended to increase the accountability of an organization to the larger context of the business environment. The general principles of CG include and are related to Shareholder recognition, Stakeholder interests, and focus on Corporate Social Responsibility (CSR), Clear Board responsibilities, Ethical behavior, and Business transparency. Network Marketing Organizations (NMOs) focus on marketing through direct-sales using people who are associated with the organization but are not their employees. This paper tries to study the importance of Ethics and CSR in an NMO and suggest a basic guideline for CG in NMO(s). This paper could be used as a basis or starting point for conducting an in-depth research to understand the difference in CG practices between NMO(s) and other organizations and define a standard set of guidelines for CG practice.

Keywords: Corporate governance, corporate responsibility, direct selling, network marketing.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2029

Authors: Nwobu Obiamaka, Owolabi Akintola

Abstract:

This study examined the extent of statistical significant difference between the economic, environmental, governance and social aspects of sustainability reporting as a result of board committee on sustainability and time (year) of reporting for business organizations in the Nigerian banking sector. The years of reporting under consideration were 2010, 2011, 2012 and 2013. Content analysis methodology was employed through a reporting index used to score the amount of economic, environmental, governance and social indicators of sustainability reporting. The results of this study indicated that business organizations with board committee on sustainability had more indicators of sustainability reporting than those without board committees on sustainability issues. Also, sustainability reporting in 2013 was higher than that of prior years (2012, 2011 and 2010) for the economic, environmental and social indicators. The governance indicators of 2012 was highest compared to the other years (2013, 2011 and 2010) under consideration in this study. The implication of this finding is that business organizations that have board committees on sustainability are monitored by such boards to report more to their stakeholders. On the other hand, business organizations are appreciating the need to engage in sustainability reporting with each passing year. This could be due to the Central Bank of Nigeria (CBN) Sustainability Reporting framework that business organizations in the banking sector have to adhere to. When sustainability issues are monitored from the board of directors, business organizations are likely to increase and improve on their sustainability reporting.

Keywords: Governance, organizations, reporting, sustainability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2041