Search results for: Electronic markets

Authors: Pongsatorn Tantrabundit, Lersak Phothong, Ong-art Chanprasitchai

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Due to the emergence of the Internet, it has extended the traditional Word-of-Mouth (WOM) to a new form called “Electronic Word-of-Mouth (eWOM).” Unlike traditional WOM, eWOM is able to present information in various ways by applying different components. Each eWOM component generates different effects on online consumer behavior. This research investigates the effects of Webcare (responding message) from product/ service providers on negative eWOM by applying two types of products (search and experience). The proposed conceptual model was developed based on the combination of the stages in consumer decision-making process, theory of reasoned action (TRA), theory of planned behavior (TPB), the technology acceptance model (TAM), the information integration theory and the elaboration likelihood model. The methodology techniques used in this study included multivariate analysis of variance (MANOVA) and multiple regression analysis. The results suggest that Webcare does slightly increase Thai online consumer’s perceptions on perceived eWOM trustworthiness, information diagnosticity and quality. For negative eWOM, we also found that perceived eWOM Trustworthiness, perceived eWOM diagnosticity and quality have a positive relationship with eWOM influence whereas perceived valence has a negative relationship with eWOM influence in Thai online consumers.

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Authors: Miguel Angel Garcia-Ruiz, Pedro Cesar Santana-Mancilla, Laura Sanely Gaytan-Lugo

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This paper describes the design and application of a short in-class project conducted in Algoma University’s Human-Computer Interaction (HCI) course taught at the Bachelor of Computer Science. The project was based on the Maker Movement (people using and reusing electronic components and everyday materials to tinker with technology and make interactive applications), where students applied low-cost and easy-to-use electronic components, the Arduino Uno microcontroller board, software tools, and everyday objects. Students collaborated in small teams by completing hands-on activities with them, making an interactive walking cane for blind people. At the end of the course, students filled out a Technology Acceptance Model version 2 (TAM2) questionnaire where they evaluated microcontroller boards’ applications in HCI classes. We also asked them about applying the Maker Movement in HCI classes. Results showed overall students’ positive opinions and response about using microcontroller boards in HCI classes. We strongly suggest that every HCI course should include practical activities related to tinkering with technology such as applying microcontroller boards, where students actively and constructively participate in teams for achieving learning objectives.

Keywords: Maker movement, microcontrollers, learning, projects, course, technology acceptance.

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Authors: M. Peña Aguilar Juan, Ríos Hernández Ezequiel, R. Valencia Luis

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For certification, certain goods of public interest, such as medicines and food, it is required the preparation and delivery of a dossier. For its elaboration, legal and administrative knowledge must be taken, as well as organization of the documents of the process, and an order that allows the file verification. Therefore, a virtual platform was developed to support the process of management and elaboration of the dossier, providing accessibility to the information and interfaces that allow the user to know the status of projects. The development of dossier system on the cloud allows the inclusion of the technical requirements for the software management, including the validation and the manufacturing in the field industry. The platform guides and facilitates the dossier elaboration (report, file or history), considering Mexican legislation and regulations, it also has auxiliary tools for its management. This technological alternative provides organization support for documents and accessibility to the information required to specify the successful development of a dossier. The platform divides into the following modules: System control, catalog, dossier and enterprise management. The modules are designed per the structure required in a dossier in those areas. However, the structure allows for flexibility, as its goal is to become a tool that facilitates and does not obstruct processes. The architecture and development of the software allows flexibility for future work expansion to other fields, this would imply feeding the system with new regulations.

Keywords: Electronic dossier, technologies for management, web software, dossier elaboration, pharmaceutical industry.

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Authors: Omer Farooq, Salman Ahmed Khan, Sadaf Khalid

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Modern day stock markets have almost entirely became automated. Even though it means increased profits for the investors by algorithms acting upon the slightest price change in order of microseconds, it also has given birth to many ethical dilemmas in the sense that slightest mistake can cause people to lose all of their livelihoods. This paper reviews one such event that happened on May 06, 2010 in which $1 trillion dollars disappeared from the Dow Jones Industrial Average. We are going to discuss its various aspects and the ethical dilemmas that have arisen due to it.

Keywords: Flash Crash, Market Crash, Stock Market, Stock Market Crash.

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Authors: R. Hocine, K. Belkacemi, A. Boukortt, A. Boudjemai

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When designing satellites, one of the major issues aside for designing its primary subsystems is to devise its thermal. The thermal management of satellites requires solving different sets of issues with regards to modelling. If the satellite is well conditioned all other parts of the satellite will have higher temperature no matter what. The main issue of thermal modelling for satellite design is really making sure that all the other points of the satellite will be within the temperature limits they are designed. The insertion of power electronics in aerospace technologies is becoming widespread and the modern electronic systems used in space must be reliable and efficient with thermal management unaffected by outer space constraints. Many advanced thermal management techniques have been developed in recent years that have application in high power electronic systems. This paper presents a Three-Dimensional Modal Transmission Line Matrix (3D-TLM) implementation of transient heat flow in space power electronics. In such kind of components heat dissipation and good thermal management are essential. Simulation provides the cheapest tool to investigate all aspects of power handling. The 3DTLM has been successful in modeling heat diffusion problems and has proven to be efficient in terms of stability and complex geometry. The results show a three-dimensional visualisation of self-heating phenomena in the device affected by outer space constraints, and will presents possible approaches for increasing the heat dissipation capability of the power modules.

Keywords: Thermal management, conduction, heat dissipation, CTE, ceramic, heat spreader, nodes, 3D-TLM.

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Authors: Talal Alsulaiman, Khaldoun Khashanah

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In this paper, we provided a literature survey on the artificial stock problem (ASM). The paper began by exploring the complexity of the stock market and the needs for ASM. ASM aims to investigate the link between individual behaviors (micro level) and financial market dynamics (macro level). The variety of patterns at the macro level is a function of the AFM complexity. The financial market system is a complex system where the relationship between the micro and macro level cannot be captured analytically. Computational approaches, such as simulation, are expected to comprehend this connection. Agent-based simulation is a simulation technique commonly used to build AFMs. The paper proceeds by discussing the components of the ASM. We consider the roles of behavioral finance (BF) alongside the traditionally risk-averse assumption in the construction of agent’s attributes. Also, the influence of social networks in the developing of agents interactions is addressed. Network topologies such as a small world, distance-based, and scale-free networks may be utilized to outline economic collaborations. In addition, the primary methods for developing agents learning and adaptive abilities have been summarized. These incorporated approach such as Genetic Algorithm, Genetic Programming, Artificial neural network and Reinforcement Learning. In addition, the most common statistical properties (the stylized facts) of stock that are used for calibration and validation of ASM are discussed. Besides, we have reviewed the major related previous studies and categorize the utilized approaches as a part of these studies. Finally, research directions and potential research questions are argued. The research directions of ASM may focus on the macro level by analyzing the market dynamic or on the micro level by investigating the wealth distributions of the agents.

Keywords: Artificial stock markets, agent based simulation, bounded rationality, behavioral finance, artificial neural network, interaction, scale-free networks.

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Authors: Jana Gutierrez Chvalkovská, Michal Mejstřík, Matěj Urban

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There are pending discussions over the mapping of country export potential in order to refocus export strategy of firms and its evidence-based promotion by the Export Credit Agencies (ECAs) and other permitted vehicles of governments. In this paper we develop our version of an applied model that offers “stepwise” elimination of unattractive markets. We modify and calibrate the model for the particular features of the Czech Republic and specific pilot cases where we apply an individual approach to each sector.

Keywords: Export strategy, Modeling export, Calibration, Export promotion.

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Authors: B. Frączek

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The paper analyses the usage of the Internet by university students in Visegrad Countries (4V Countries) who study economic fields in their formal and informal financial education and captures the areas of untapped potential of Internet in educational processes. Higher education and training, technological readiness, and the financial market development are in the group of pillars, that are key for efficiency driven economies. These three pillars have become an inspiration to the research on using the Internet in the financial education among economic university students as the group of the best educated people in finance. The financial education is a process that allows for improving the level of financial literacy. In turn, the financial literacy it is the set of financial knowledge, skills, awareness and patterns influencing the financial decisions. The level of financial literacy influences the level of financial well-being of individuals, determines the scale of saving of households and at the same time gives the greater chance for sustainable and more predictable development of the financial market with the positive impact on economy. The financial literacy is necessary for each group of society but its appropriate level is desirable especially in respect of economics students as future participants of financial markets as well as the experts and advisors in financial decision making. The low level of financial literacy is the great problem of many target groups in both developing and developed countries and the financial education is seen as the best way of improving this situation. Also the financial inclusion plays the special role in enhancing the level of financial literacy in the aspect of education by practice as well as due to interrelation between level of financial literacy and degree of financial inclusion. Despite many initiatives under financial education, the level of financial literacy is still very low. Scientists still search for new ways of solving this problem. One of the proposal is more effective usage of the new technology in financial education, especially the Internet, because of the growing popularity of e-learning and the increasing number of Internet users, especially among young people who are called the Generation Net. Due to special role of the university students studying the economics fields for the future financial markets, students of four universities from Visegrad Countries (Czech Republic, Hungary, Poland and Slovakia) were invited to participate in the survey. The aim of the article is to present the level and ways of using the Internet technology in financial education and indicating the so far unused or underused opportunities.

Keywords: Financial education, financial inclusion, financial literacy, usage of Internet in education.

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Authors: Dennis Gossmann, Habil Peter Nyhuis

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Amongst the consistently fluctuating conditions prevailing today, changeability represents a strategic key factor for a manufacturing company to achieve success on the international markets. In order to cope with turbulences and the increasing level of incalculability, not only the flexible design of production systems but in particular the employee as enabler of change provide the focus here. It is important to enable employees from manufacturing companies to participate actively in change events and in change decisions. To this end, the learning factory has been created, which is intended to serve the development of change-promoting competences and the sensitization of employees for the necessity of changes.

Keywords: Changeability, human resources, learning factory.

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Authors: Erik Pontiskoski, Kazuhiro Asakawa

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This is a conceptual paper on the application of open innovation in three case examples of Apple, Nintendo, and Nokia. Utilizing key concepts from research into managerial and organizational cognition, we describe how each company overcame barriers to utilizing open innovation strategy in R&D and commercialization projects. We identify three levels of barriers: cognitive, behavioral, and institutional, and describe the companies balanced between internal and external resources to launch products that were instrumental in companies reinventing themselves in mature markets.

Keywords: managerial cognition, open innovation.

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Authors: Etienne Provencal, David L. St-Pierre

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A facility exploiting only electronic gambling machines (EGMs) opened in 2007 in Quebec City, Canada under the name of Salons de Jeux du Québec (SdjQ). This facility is one of the first worldwide to rely on that business model. This paper models the performance of such EGMs. The interest from a managerial point of view is to identify the variables that can be controlled or influenced so that a comprehensive model can help improve the overall performance of the business. The EGM individual performance model contains eight different variables under study (Game Title, Progressive jackpot, Bonus Round, Minimum Coin-in, Maximum Coin-in, Denomination, Slant Top and Position). Using data from Quebec City’s SdjQ, a linear regression analysis explains 90.80% of the EGM performance. Moreover, results show a behavior slightly different than that of a casino. The addition of GameTitle as a factor to predict the EGM performance is one of the main contributions of this paper. The choice of the game (GameTitle) is very important. Games having better position do not have significantly better performance than games located elsewhere on the gaming floor. Progressive jackpots have a positive and significant effect on the individual performance of EGMs. The impact of BonusRound on the dependent variable is significant but negative. The effect of Denomination is significant but weakly negative. As expected, the Language of an EGMS does not impact its individual performance. This paper highlights some possible improvements by indicating which features are performing well. Recommendations are given to increase the performance of the EGMs performance.

Keywords: EGM, linear regression, model prediction, slot operations.

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Authors: Susana G. Azevedo, Helena Carvalho, V. Cruz –Machado

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The supply chains (SCs) have to appeal to new management paradigms to improve their ability to respond rapidly and cost effectively to unpredictable changes in markets and increasing levels of environmental turbulence, both in terms of volume and variety. In this highly demanded context, the Agile paradigm provides the capabilities to SC quickly adapt to changes in the market requirements. The purpose of this paper is to suggest an Agile Index to assess the agility of the automotive companies and corresponding SCs. The proposed integrated assessment model incorporates Agile practices weighted according to their importance to the automotive SC competitiveness and obtained from the Delphi technique.

Keywords: Agile, Supply chain management, Index, Delphitechnique.

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Authors: Bülent Dilmaç, Didem Aydoğan

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The use of new technologies such internet (e-mail, chat rooms) and cell phones has steeply increased in recent years. Especially among children and young people, use of technological tools and equipments is widespread. Although many teachers and administrators now recognize the problem of school bullying, few are aware that students are being harassed through electronic communication. Referred to as electronic bullying, cyber bullying, or online social cruelty, this phenomenon includes bullying through email, instant messaging, in a chat room, on a website, or through digital messages or images sent to a cell phone. Cyber bullying is defined as causing deliberate/intentional harm to others using internet or other digital technologies. It has a quantitative research design nd uses relational survey as its method. The participants consisted of 300 secondary school students in the city of Konya, Turkey. 195 (64.8%) participants were female and 105 (35.2%) were male. 39 (13%) students were at grade 1, 187 (62.1%) were at grade 2 and 74 (24.6%) were at grade 3. The “Cyber Bullying Question List" developed by Ar─▒cak (2009) was given to students. Following questions about demographics, a functional definition of cyber bullying was provided. In order to specify students- human values, “Human Values Scale (HVS)" developed by Dilmaç (2007) for secondary school students was administered. The scale consists of 42 items in six dimensions. Data analysis was conducted by the primary investigator of the study using SPSS 14.00 statistical analysis software. Descriptive statistics were calculated for the analysis of students- cyber bullying behaviour and simple regression analysis was conducted in order to test whether each value in the scale could explain cyber bullying behaviour.

Keywords: Cyber bullying, Values, Secondary SchoolStudents

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Authors: Birol Yildiz, Abdullah Yalama, Metin Coskun

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Many studies have shown that Artificial Neural Networks (ANN) have been widely used for forecasting financial markets, because of many financial and economic variables are nonlinear, and an ANN can model flexible linear or non-linear relationship among variables. The purpose of the study was to employ an ANN models to predict the direction of the Istanbul Stock Exchange National 100 Indices (ISE National-100). As a result of this study, the model forecast the direction of the ISE National-100 to an accuracy of 74, 51%.

Keywords: Artificial Neural Networks, Istanbul StockExchange, Non-linear Modeling.

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Authors: M. Paseková, L. Müllerová, J. Strouhal, L. Chyzhevska

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Increase in globalization of capital markets brings the higher requirements on financial information provided for investors who look for a highly comparable information. Paper deals with the advantages and limitations of applying International Financial Reporting Standards (IFRS) in the Czech Republic and Ukraine. As a greatest limit for full adoption of IFRS shall be acknowledged the strong connection of continental accounting to tax system and enormous high administrative burden for IFRS appliers.

Keywords: International Financial Reporting Standards (IFRS), Small and Medium-sized Enterprises (SMEs), Czech Republic, Ukraine.

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Authors: Andressa S. T. Gomes, Luiza A. Souza, Luciana H. Yamane, Renato R. Siman

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The segregation of waste of electrical and electronic equipment (WEEE) in the generating source, its characterization (quali-quantitative) and identification of origin, besides being integral parts of classification reports, are crucial steps to the success of its integrated management. The aim of this paper was to count WEEE generation at the Federal University of Espírito Santo (UFES), Brazil, as well as to define sources, temporary storage sites, main transportations routes and destinations, the most generated WEEE and its recycling potential. Quantification of WEEE generated at the University in the years between 2010 and 2015 was performed using data analysis provided by UFES’s sector of assets management. EEE and WEEE flow in the campuses information were obtained through questionnaires applied to the University workers. It was recorded 6028 WEEEs units of data processing equipment disposed by the university between 2010 and 2015. Among these waste, the most generated were CRT screens, desktops, keyboards and printers. Furthermore, it was observed that these WEEEs are temporarily stored in inappropriate places at the University campuses. In general, these WEEE units are donated to NGOs of the city, or sold through auctions (2010 and 2013). As for recycling potential, from the primary processing and further sale of printed circuit boards (PCB) from the computers, the amount collected could reach U$ 27,839.23. The results highlight the importance of a WEEE management policy at the University.

Keywords: Solid waste, waste of electric and electronic equipment, waste management, institutional generation of solid waste.

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Authors: Tero Halme, Juho Kanniainen, Markus Nordberg

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According to the existing literature, companies manage analysts’ expectations of their future earnings by issuing pessimistic earnings guidance to meet the expectations. Consequently, one could expect that markets price this pessimistic bias in advance and penalize companies more for lowering the guidance than reward for beating the guidance. In this paper we confirm this empirically. In addition we show that although guidance revisions have a statistically significant relation to stock returns, that is not the case with the actual earnings surprise. Reason for this could be that, after the annual earnings report also information on future earnings power is given at the same time.

Keywords: Management guidance, earnings guidance, pessimistic bias

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Authors: Chen Chou, Feng-Tyan Lin

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Big Data has been attracted a lot of attentions in many fields for analyzing research issues based on a large number of maternal data. Electronic Toll Collection (ETC) is one of Intelligent Transportation System (ITS) applications in Taiwan, used to record starting point, end point, distance and travel time of vehicle on the national freeway. This study, taking advantage of ETC big data, combined with urban planning theory, attempts to explore various phenomena of inter-city transportation activities. ETC, one of government's open data, is numerous, complete and quick-update. One may recall that living area has been delimited with location, population, area and subjective consciousness. However, these factors cannot appropriately reflect what people’s movement path is in daily life. In this study, the concept of "Living Area" is replaced by "Influence Range" to show dynamic and variation with time and purposes of activities. This study uses data mining with Python and Excel, and visualizes the number of trips with GIS to explore influence range of Tainan city and the purpose of trips, and discuss living area delimited in current. It dialogues between the concepts of "Central Place Theory" and "Living Area", presents the new point of view, integrates the application of big data, urban planning and transportation. The finding will be valuable for resource allocation and land apportionment of spatial planning.

Keywords: Big Data, ITS, influence range, living area, central place theory, visualization.

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Authors: S. Areerachakul, N. Ployong, S. Na Songkla

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This research’s objective is to select the model with most accurate value by using Neural Network Technique as a way to filter potential students who enroll in IT course by Electronic learning at Suan Suanadha Rajabhat University. It is designed to help students selecting the appropriate courses by themselves. The result showed that the most accurate model was 100 Folds Cross-validation which had 73.58% points of accuracy.

Keywords: Artificial neural network, classification, students.

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Authors: Xiaocong Liu, Huazhen Wang, Ting He, Xiaozheng Li, Weihan Zhang, Jian Chen

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The utilization of electronic medical record (EMR) data to establish the disease diagnosis model has become an important research content of biomedical informatics. Deep learning can automatically extract features from the massive data, which brings about breakthroughs in the study of EMR data. The challenge is that deep learning lacks semantic knowledge, which leads to impracticability in medical science. This research proposes a method of incorporating lexical-semantic knowledge from abundant entities into a convolutional neural network (CNN) framework for pediatric disease diagnosis. Firstly, medical terms are vectorized into Lexical Semantic Vectors (LSV), which are concatenated with the embedded word vectors of word2vec to enrich the feature representation. Secondly, the semantic distribution of medical terms serves as Semantic Decision Guide (SDG) for the optimization of deep learning models. The study evaluates the performance of LSV-SDG-CNN model on four kinds of Chinese EMR datasets. Additionally, CNN, LSV-CNN, and SDG-CNN are designed as baseline models for comparison. The experimental results show that LSV-SDG-CNN model outperforms baseline models on four kinds of Chinese EMR datasets. The best configuration of the model yielded an F1 score of 86.20%. The results clearly demonstrate that CNN has been effectively guided and optimized by lexical-semantic knowledge, and LSV-SDG-CNN model improves the disease classification accuracy with a clear margin.

Keywords: lexical semantics, feature representation, semantic decision, convolutional neural network, electronic medical record

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Authors: Ali Safari, Pejman Hosseiniun, Iman Rahbari, Mohamad Reza Kalhor

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The semiconductor industry is placing an increased emphasis on emerging materials and devices that may provide improved performance, or provide novel functionality for devices. Recently, graphene, as a true two-dimensional carbon material, has shown fascinating applications in electronics. In this paper detailed discussions are introduced for possible applications of grapheme Transistor in RF and digital devices.

Keywords: Graphene, GFET, RF, Digital.

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Authors: M. Centra

Abstract:

Due to the liberalization of countless electricity markets, load forecasting has become crucial to all public utilities for which electricity is a strategic variable. With the goal of contributing to the forecasting process inside public utilities, this paper addresses the issue of applying the Holt-Winters exponential smoothing technique and the time series analysis for forecasting the hourly electricity load curve of the Italian railways. The results of the analysis confirm the accuracy of the two models and therefore the relevance of forecasting inside public utilities.

Keywords: ARIMA models, Exponential smoothing, Electricity, Load forecasting, Rail transportation.

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Authors: D. Ščeulovs, E. Gaile-Sarkane

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Fast development of technologies, economic globalization and many other external circumstances stimulate company’s competitiveness. One of the major trends in today’s business is the shift to the exploitation of the Internet and electronic environment for entrepreneurial needs. Latest researches confirm that e-environment provides a range of possibilities and opportunities for companies, especially for micro-, small- and medium-sized companies, which have limited resources. The usage of e-tools raises the effectiveness and the profitability of an organization, as well as its competitiveness. In the electronic market, as in the classic one, there are factors, such as globalization, development of new technology, price sensitive consumers, Internet, new distribution and communication channels that influence entrepreneurship. As a result of eenvironment development, e-commerce and e-marketing grow as well.

Objective of the paper: To describe and identify factors influencing company’s competitiveness in e-environment.

Research methodology: The authors employ well-established quantitative and qualitative methods of research: grouping, analysis, statistics method, factor analysis in SPSS 20 environment, etc. The theoretical and methodological background of the research is formed by using scientific researches and publications, such as that from mass media and professional literature; statistical information from legal institutions as well as information collected by the authors during the surveying process. Research result: The authors detected and classified factors influencing competitiveness in e-environment. 

In this paper, the authors presented their findings based on theoretical, scientific, and field research. Authors have conducted a research on e-environment utilization among Latvian enterprises. 

Keywords: Competitiveness, e-environment, factors, factor analysis.

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Authors: Shafiq ur Rehman, Jane-Lisa Coughlan

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Mobiles are considered to be the most frequently used electronic items in world after electricity. It is probably the only device that can be used by any gender with no age limits depending on its functionality. This paper present the interactive interface of Mobile and particularly aiming the use of advanced phones which are also called smart phones. With the changes in the trend where users are now moving from ordinary mobiles to the one with touch screens and facilities such as WiFi and internet browsing.

Keywords: interface design, functionality, intelligent system

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Authors: Marzena Świgoń

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The purpose of this paper is to describe the perceptions of knowledge and information sharing by the Polish academic community. An electronic questionnaire was used to gather opinions of respondents. The presented results are a part of the findings of empirical studies carried out amongst academics from various types of universities and academia located throughout Poland.

Keywords: Academics, Information Sharing, Knowledge Sharing, Scholarly Communication.

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Authors: A. Pancharya

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The globalization of the Indian economy has thrown a great challenge to the Indian industries in respect of productivity, quality, cost, delivery etc. Achieving success• the global market has required fundamental shift in the way business is conducted and has dramatically affected virtually every aspect of process industry. The internal manufacturing process and supporting infrastructure should be such that it can compete successfully in global markets with better flexibility and delivery. The paper deals with a case study of a reputed process industry, some changes in the process has been suggested, which leads to reduction in labor cost and production cost.

Keywords: Indian cement industry, material handling, plant layout.

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Authors: Wanida Suwunniponth

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The objectives of this research paper were to study the influencing factors that contributed to the success of electronic commerce (e-commerce) and to study the approach to enhance the standard of e-commerce for small and medium enterprises (SME). The research paper focused the study on only sole proprietorship SMEs in Bangkok, Thailand. The factors contributed to the success of SME included business management, learning in the organization, business collaboration, and the quality of website. A quantitative and qualitative mixed research methodology was used. In terms of quantitative method, a questionnaire was used to collect data from 251 sole proprietorships. The System Equation Model (SEM) was utilized as the tool for data analysis. In terms of qualitative method, an in-depth interview, a dialogue with experts in the field of ecommerce for SMEs, and content analysis were used. By using the adjusted causal relationship structure model, it was revealed that the factors affecting the success of e-commerce for SMEs were found to be congruent with the empirical data. The hypothesis testing indicated that business management influenced the learning in the organization, the learning in the organization influenced business collaboration and the quality of the website, and these factors, in turn, influenced the success of SMEs. Moreover, the approach to enhance the standard of SMEs revealed that the majority of respondents wanted to enhance the standard of SMEs to a high level in the category of safety of e-commerce system, basic structure of e-commerce, development of staff potentials, assistance of budget and tax reduction, and law improvement regarding the e-commerce respectively.

Keywords: Electronic Commerce, Influencing Factors, Small and Medium Enterprises.

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Authors: K. N. Dinesh Babu, P. K. Gargava

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Energization of a transformer results in sudden flow of current which is an effect of core magnetization. This current will be dominated by the presence of second harmonic, which in turn is used to segregate fault and inrush current, thus guaranteeing proper operation of the relay. This additional security in the relay sometimes obstructs or delays differential protection in a specific scenario, when the 2^nd harmonic content was present during a genuine fault. This kind of scenario can result in isolation of the transformer by Buchholz and pressure release valve (PRV) protection, which is acted when fault creates more damage in transformer. Such delays involve a huge impact on the insulation failure, and chances of repairing or rectifying fault of problem at site become very dismal. Sometimes this delay can cause fire in the transformer, and this situation becomes havoc for a sub-station. Such occurrences have been observed in field also when differential relay operation was delayed by 10-15 ms by second harmonic blocking in some specific conditions. These incidences have led to the need for an alternative solution to eradicate such unwarranted delay in operation in future. Modern numerical relay, called as intelligent electronic device (IED), is embedded with advanced protection features which permit higher flexibility and better provisions for tuning of protection logic and settings. Such flexibility in transformer protection IEDs, enables incorporation of alternative methods such as dynamic switching of second harmonic feature for blocking the differential protection with additional security. The analysis and precautionary measures carried out in this case, have been simulated and discussed in this paper to ensure that similar solutions can be adopted to inhibit analogous issues in future.

Keywords: Differential protection, intelligent electronic device (IED), 2nd harmonic, inrush inhibit.

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Authors: K. D. Mroczek

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In the study presented institutional context is discussed in terms of companies’ entry mode choice. In contrary to many previous analyses, instead of using one or two aggregated variables, a set of eleven determinants is used to establish equity and non-equity internationalization friendly conditions. Based on secondary data, 140 countries are analyzed and grouped into clusters revealing similar framework. The range of the economies explored is wide as it covers all regions distinguished by The World Bank. The results can prove a useful alternative for operationalization of institutional variables in further research concerning entry modes or strategic management in international markets.

Keywords: Clustering, entry mode choice, institutional environment, transaction costs.

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Authors: Johannes Nywlt, Julian Becker, Sebastian Bertsch

Abstract:

Due to high dynamics in current markets the expectations regarding logistics increase steadily. However, the complexity and variety of products and production make it difficult to understand the interdependencies between logistical objectives and their determining factors. Therefore specific models are needed to meet this challenge. The Logistic Operating Curves Theory is such a model. With its aid the basic correlations between the logistic objectives can be described. Within this model the capacity flexibility represents an important parameter. However, a proper mathematical description for this parameter is still missing. Within this paper such a description will be developed in order to make the Logistic Operating Curves Theory more accurate.

Keywords: Capacity flexibility, Production controlling, Production logistics, Production management.

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