Search results for: Financial ontology

Authors: Maria Damian, Carmen G. Bonaci, Jiří Strouhal, Razvan V. Mustata, Dumitru Matis, Jiřina Bokšová

Abstract:

In the current context of globalization, a large number of companies sought to develop as a group in order to reach to other markets or meet the necessary criteria for listing on a stock exchange. The issue of consolidated financial statements prepared by a parent, an investor or a venture and the financial reporting standards guiding them therefore becomes even more important. The aim of our paper is to expose this issue in a consistent manner, first by summarizing the international accounting and financial reporting standards applicable before the 1st of January 2013 and considering the role of the crisis in shaping the standard setting process, and secondly by analyzing the newly issued/modified standards and main changes being brought

Keywords: Consolidated financial statements, control, IFRS 10, financial crisis.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2073

Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

Abstract:

Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the nonfinancial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: Banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2218

Authors: Aissam Belghiat, Mustapha Bourahla

Abstract:

Models are placed by modeling paradigm at the center of development process. These models are represented by languages, like UML the language standardized by the OMG which became necessary for development. Moreover the ontology engineering paradigm places ontologies at the center of development process; in this paradigm we find OWL the principal language for knowledge representation. Building ontologies from scratch is generally a difficult task. The bridging between UML and OWL appeared on several regards such as the classes and associations. In this paper, we have to profit from convergence between UML and OWL to propose an approach based on Meta-Modelling and Graph Grammars and registered in the MDA architecture for the automatic generation of OWL ontologies from UML class diagrams. The transformation is based on transformation rules; the level of abstraction in these rules is close to the application in order to have usable ontologies. We illustrate this approach by an example.

Keywords: ATOM3, MDA, Ontology, OWL, UML

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 24855

Authors: Popoola, C. F., Akinsanya, K., Babarinde, S. B., Farinde, D. A.

Abstract:

This study investigated published financial statement as correlate of investment decision among commercial bank stakeholders in Nigeria. A correlation research design was used in the study. 180 users of published financial statement were purposively sampled from Lagos and Ibadan. Data generated were analyzed using Pearson correlation and regression. The findings of the study revealed that, balance sheet is negatively related with investment decision (r= -.483; p<.01) while income statement (r= .249; p<.001), notes on the account (r= .230; p<.001), cash flow statement (r= .202; p<.001), value added statement (r= .328; p<.001) and five-year financial summary (r= .191; p<.01) are positively related with investment decision. Findings also revealed that components of published financial statement significantly predicted good investment decision (R²= .983; F_(5,175)=284.5; p<.05) for commercial bank stakeholders. Therefore, it was suggested that Nigeria banks and professional bodies should instigate programs that will increase the knowledge of stakeholders on published financial statement.

Keywords: Commercial banks, Financial statement, Income Statement, Investment decision, Stakeholders.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4952

Authors: Yosia Mulumba, Klaus Schmidt

Abstract:

Financial Inclusion is considered a key pillar for development in most countries around the world. Access to affordable financial services in a country’s economy can be a driver to overcome poverty and reduce income inequalities, and thus increase economic growth. Nevertheless, the number of financially excluded populations in developing countries continues to be very high. This paper explores the role of Financial Technology (Fintech) as a key driver for achieving financial inclusion in developing countries post the COVID-19 pandemic with an emphasis on four East African countries: Kenya, Tanzania, Uganda, and Rwanda. The research paper is inspired by the positive disruption caused by the pandemic, which has compelled societies in East Africa to adapt and embrace the use of financial technology innovations, specifically Mobile Money Services (MMS), to access financial services. MMS has been further migrated and integrated with other financial technology innovations such as Mobile Banking, Micro Savings, and Loans, and Insurance, to mention but a few. These innovations have been adopted across key sectors such as commerce, health care, or agriculture. The research paper will highlight the Mobile Network Operators (MNOs) that are behind MMS, along with numerous innovative products and services being offered to the customers. It will also highlight the regulatory framework under which these innovations are being governed to ensure the safety of the customers' funds.

Keywords: Financial inclusion, financial technology, regulatory framework, mobile money services.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 721

Authors: Vilma Deltuvaitė

Abstract:

Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.

Keywords: Banking sector, economic development, financial system’s development, stock market, private bond market.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2083

Authors: Quratulain N. Rajput, Sajjad Haider, Nasir Touheed

Abstract:

The internet has become an attractive avenue for global e-business, e-learning, knowledge sharing, etc. Due to continuous increase in the volume of web content, it is not practically possible for a user to extract information by browsing and integrating data from a huge amount of web sources retrieved by the existing search engines. The semantic web technology enables advancement in information extraction by providing a suite of tools to integrate data from different sources. To take full advantage of semantic web, it is necessary to annotate existing web pages into semantic web pages. This research develops a tool, named OWIE (Ontology-based Web Information Extraction), for semantic web annotation using domain specific ontologies. The tool automatically extracts information from html pages with the help of pre-defined ontologies and gives them semantic representation. Two case studies have been conducted to analyze the accuracy of OWIE.

Keywords: Ontology, Semantic Annotation, Wrapper, Information Extraction.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2070

Authors: José A. D. Machuca, Bernabé Escobar-Pérez, Pedro Garrido Vega, Darkys E. Lujan García

Abstract:

Starting with an analysis of the financial and operational indicators that can be found in the specialised literature, this study aims to contribute to improvements in the performance measurement systems used when the unit of analysis is the manufacturing plant. For this a search was done in the highest impact Journals of Production and Operations Management and Management Accounting , with the aim of determining the financial and operational indicators used to evaluate performance when Advanced Production Practices have been implemented, more specifically when the practices implemented are Total Quality Management, JIT/Lean Manufacturing and Total Productive Maintenance. This has enabled us to obtain a classification of the two types of indicators based on how much each is used. For the financial indicators we have also prepared a proposal that can be adapted to manufacturing plants- accounting features. In the near future we will propose a model that links practices implementation with financial and operational indicators and these two last with each other. We aim to will test this model empirically with the data obtained in the High Performance Manufacturing Project.

Keywords: Advanced Production Practices, Financial Indicators, Non-Financial Indicators

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1465

Authors: Ying-Hsiu Chen, Pao-Peng Hsu

Abstract:

This paper adopts a two-stage data envelopment analysis to explore the impacts of financial development and bank operating scale on bank efficiencies. The sample comprises unbalanced panel data of 32 Taiwanese listed domestic commercial banks over the period 1998 to 2013. Empirical results show that pure technical efficiency is positively related to financial development, whereas the effect of financial development on scale efficiency is insignificant. Enlargement of bank operating scale improves bank efficiencies, but the efficiency gains are decreased gradually when the scale increases. Increases in capital adequacy ratio and market power of loans lead into a growth of bank efficiencies.

Keywords: Financial development, Operating scale, Efficiency, DEA.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1705

Authors: Gung-Hun Jung, Jong-Hee Park

Abstract:

In this paper, we develop a Spatio-Temporal graph as of a key component of our knowledge representation Scheme. We design an integrated representation Scheme to depict not only present and past but future in parallel with the spaces in an effective and intuitive manner. The resulting multi-dimensional comprehensive knowledge structure accommodates multi-layered virtual world developing in the time to maximize the diversity of situations in the historical context. This knowledge representation Scheme is to be used as the basis for simulation of situations composing the virtual world and for implementation of virtual agents' knowledge used to judge and evaluate the situations in the virtual world. To provide natural contexts for situated learning or simulation games, the virtual stage set by this Spatio-Temporal graph is to be populated by agents and other objects interrelated and changing which are abstracted in the ontology.

Keywords: Ontology, Virtual Reality, Spatio-Temporal graph.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1646

Authors: Levan Sabauri

Abstract:

In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: Efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1522

Authors: Yuzhi Cai

Abstract:

In this talk, we introduce a newly developed quantile function model that can be used for estimating conditional distributions of financial returns and for obtaining multi-step ahead out-of-sample predictive distributions of financial returns. Since we forecast the whole conditional distributions, any predictive quantity of interest about the future financial returns can be obtained simply as a by-product of the method. We also show an application of the model to the daily closing prices of Dow Jones Industrial Average (DJIA) series over the period from 2 January 2004 - 8 October 2010. We obtained the predictive distributions up to 15 days ahead for the DJIA returns, which were further compared with the actually observed returns and those predicted from an AR-GARCH model. The results show that the new model can capture the main features of financial returns and provide a better fitted model together with improved mean forecasts compared with conventional methods. We hope this talk will help audience to see that this new model has the potential to be very useful in practice.

Keywords: DJIA, Financial returns, predictive distribution, quantile function model.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1600

Authors: Jaroslav Pavlíček

Abstract:

Company strategy expresses a basic idea of how to reach company objectives. A whole range of models of strategic management are used in practice. The concept of strategic management should fulfill some basic requirements to make it applicable for both the typical, but also more specific company environment. The financial strategy plays an important role in corporate strategy. The paper develops a methodology of strategic model implementing into the category of micro, small and medium-sized enterprises (SMEs). Furthermore, the methodology recommends procedures while solving an up-to-date worldwide task of the definition of the company strategy and its financial strategy.

Keywords: corporate strategy, financial strategy, corporate planning

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1904

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

Abstract:

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

Keywords: financial education, corporate governance, board

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3826

Authors: Pei-Jeng Kuo, Terumasa Aoki, Hiroshi Yasuda

Abstract:

PARIS (Personal Archiving and Retrieving Image System) is an experiment personal photograph library, which includes more than 80,000 of consumer photographs accumulated within a duration of approximately five years, metadata based on our proposed MPEG-7 annotation architecture, Dozen Dimensional Digital Content (DDDC), and a relational database structure. The DDDC architecture is specially designed for facilitating the managing, browsing and retrieving of personal digital photograph collections. In annotating process, we also utilize a proposed Spatial and Temporal Ontology (STO) designed based on the general characteristic of personal photograph collections. This paper explains PRAIS system.

Keywords: Ontology, Databases and Information Retrieval, MPEG-7, Spatial-Temporal, Digital Library Designs l, metadata, Semantic Web, semi-automatic annotation

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1074

Authors: Louay M. Jeroudaih, Mohamed S. Hajji

Abstract:

This paper looks into areas not covered by prominent Agent-Oriented Software Engineering (AOSE) methodologies. Extensive paper review led to the identification of two issues, first most of these methodologies almost neglect semantic web and ontology. Second, as expected, each one has its strength and weakness and may focus on some phases of the development lifecycle but not all of the phases. The work presented here builds extensions to a highly regarded AOSE methodology (MaSE) in order to cover the areas that this methodology does not concentrate on. The extensions include introducing an ontology stage for semantic representation and integrating early requirement specification from a methodology which mainly focuses on that. The integration involved developing transformation rules (with the necessary handling of nonmatching notions) between the two sets of representations and building the software which automates the transformation. The application of this integration on a case study is also presented in the paper. The main flow of MaSE stages was changed to smoothly accommodate the new additions.

Keywords: Agents, Intelligent Agents, Software Engineering(SE), UML, AUML, and Design Patterns.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1855

Authors: Yanchao Wang, Rajshekhar Sunderraman

Abstract:

This paper presents an algebraic approach to optimize queries in domain-specific database management system for protein structure data. The approach involves the introduction of several protein structure specific algebraic operators to query the complex data stored in an object-oriented database system. The Protein Algebra provides an extensible set of high-level Genomic Data Types and Protein Data Types along with a comprehensive collection of appropriate genomic and protein functions. The paper also presents a query translator that converts high-level query specifications in algebra into low-level query specifications in Protein-QL, a query language designed to query protein structure data. The query transformation process uses a Protein Ontology that serves the purpose of a dictionary.

Keywords: Domain-Specific Data Management, Protein Algebra, Protein Ontology, Protein Structure Data.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1491

Authors: Lars Silver, Björn Berggren, Andreas Fili

Abstract:

The financial crisis has decreased the opportunities of small businesses to acquire financing through conventional financial actors, such as commercial banks. This credit constraint is partly the reason for the emergence of new alternatives of financing, in addition to the spreading opportunities for communication and secure financial transfer through Internet. One of the most interesting venues for finance is termed “crowdfunding". As the term suggests crowdfunding is an appeal to prospective customers and investors to form a crowd that will finance projects that otherwise would find it hard to generate support through the most common financial actors. Crowdfunding is in this paper divided into different models; the threshold model, the microfinance model, the micro loan model and the equity model. All these models add to the financial possibilities of emerging entrepreneurs.

Keywords: Entrepreneurship, crowdfunding, equity finance, bank finance.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2628

Authors: Alicia Y. C. Tang, Sharifuddin M. Zain, Noorsaadah A. Rahman, Rukaini Abdullah

Abstract:

This paper discusses a qualitative simulator QRiOM that uses Qualitative Reasoning (QR) technique, and a process-based ontology to model, simulate and explain the behaviour of selected organic reactions. Learning organic reactions requires the application of domain knowledge at intuitive level, which is difficult to be programmed using traditional approach. The main objective of QRiOM is to help learners gain a better understanding of the fundamental organic reaction concepts, and to improve their conceptual comprehension on the subject by analyzing the multiple forms of explanation generated by the software. This paper focuses on the generation of explanation based on causal theories to explicate various phenomena in the chemistry subject. QRiOM has been tested with three classes problems related to organic chemistry, with encouraging results. This paper also presents the results of preliminary evaluation of QRiOM that reveal its explanation capability and usefulness.

Keywords: Artificial intelligence, explanation, ontology, organicreactions, qualitative reasoning, QPT.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1611

Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

Abstract:

The paper deals with behaviour of the segment 50+ in the financial market in the Czech Republic. This segment could be said as the strong market power and it can be a crucial business potential for financial business units. The main defined objective of this paper is analysis of the customers´ behaviour of the segment 50- 60 years in the financial market in the Czech Republic and proposal making of the suitable marketing approach to satisfy their demands in the area of product, price, distribution and marketing communication policy. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of financial services marketing, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing approach to selected sub segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: Population aging in the Czech Republic, Segment 50-60 years, Financial services marketing, Marketing research, Marketing approach.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2002

Authors: Quratulain N. Rajput, Sajjad Haider

Abstract:

This paper applies Bayesian Networks to support information extraction from unstructured, ungrammatical, and incoherent data sources for semantic annotation. A tool has been developed that combines ontologies, machine learning, and information extraction and probabilistic reasoning techniques to support the extraction process. Data acquisition is performed with the aid of knowledge specified in the form of ontology. Due to the variable size of information available on different data sources, it is often the case that the extracted data contains missing values for certain variables of interest. It is desirable in such situations to predict the missing values. The methodology, presented in this paper, first learns a Bayesian network from the training data and then uses it to predict missing data and to resolve conflicts. Experiments have been conducted to analyze the performance of the presented methodology. The results look promising as the methodology achieves high degree of precision and recall for information extraction and reasonably good accuracy for predicting missing values.

Keywords: Information Extraction, Bayesian Network, ontology, Machine Learning

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2176

Authors: Nadezhda Kvatashidze

Abstract:

The conceptual framework of International Financial Reporting Standards determines the basic principles of accounting. The said principles have multiple applications, with professional judgments being one of those. Recognition and assessment of the information contained in financial reporting, especially so the somewhat uncertain events and transactions and/or the ones regarding which there is no standard or interpretation are based on professional judgments. Professional judgments aim at the formulation of expert assumptions regarding the specifics of the circumstances and events to be entered into the report based on the conceptual framework terms and principles. Experts have to make a choice in favor of one of the aforesaid and simulate the situations applying multi-variant accounting estimates and judgment. In making the choice, one should consider all the factors, which may help represent the information in the best way possible. Professional judgment determines the relevance and faithful representation of the presented information, which makes it more useful for the existing and potential investors. In order to assess the prospected net cash flows, the information must be predictable and reliable. The publication contains critical analysis of the aforementioned problems. The fact that the International Financial Reporting Standards are developed continuously makes the issue all the more important and that is another point discussed in the study.

Keywords: Conceptual Framework for financial reporting, Qualitative characteristics of financial information, Professional judgement, Cost constraints, Financial reporting.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1576

Authors: C. A. Corzo, N. Zhang, F. Corzo

Abstract:

Insider abuse has recently been reported as one of the more frequently occurring security incidents, suggesting that more security is required for detecting and preventing unauthorised financial transactions entered by authorised users. To address the problem, and based on the observation that all authorised interbanking financial transactions trigger or are triggered by other transactions in a workflow, we have developed a security solution based on a redefined understanding of an audit workflow. One audit workflow where there is a log file containing the complete workflow activity of financial transactions directly related to one financial transaction (an electronic deal recorded at an e-trading system). The new security solution contemplates any two parties interacting on the basis of financial transactions recorded by their users in related but distinct automated financial systems. In the new definition interorganizational and intra-organization interactions can be described in one unique audit trail. This concept expands the current ideas of audit trails by adapting them to actual e-trading workflow activity, i.e. intra-organizational and inter-organizational activity. With the above, a security auditing service is designed to detect integrity drifts with and between organizations in order to detect unauthorised financial transactions entered by authorised users.

Keywords: Intrusion Detection and Prevention, Authentica-transtionand Identification.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1499

Authors: Alhamdi Alfi Fajri

Abstract:

The purpose of this study is to analyze and to give empirical proof about the effect of fair value implementation on financial asset against information asymmetry in Indonesia’s banking sector. This research tested the effect of fair value implementation on financial asset based on Statement of Financial Accounting Standard (PSAK) No. 55 and the fair value reliability measurement based on PSAK No. 60 against level of information asymmetry. The scope of research is Indonesia’s banking sector. The test’s result shows that the use of fair value based on PSAK No. 55 is significantly associated with information asymmetry. This positive relation is higher than the amortized cost implementation on financial asset. In addition, the fair value hierarchy based on PSAK No. 60 is significantly associated with information asymmetry. This research proves that the more reliable measurement of fair value on financial asset, the more observable fair value measurement and reduces level of information asymmetry.

Keywords: Fair value, PSAK No. 55, PSAK No. 60, information asymmetry, banks.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1908

Authors: Bi-Huei Tsai

Abstract:

Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightlydistressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the one-stage model has the lower misclassification error rate than the two-stage model. The one-stage model is more accurate than the two-stage model.

Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2639

Authors: Firas A. Al Laban, Mohamed Chabi, Sammani Danwawu Abdullahi

Abstract:

There are real needs to integrate types of Open Educational Resources (OER) with an intelligent system to extract information and knowledge in the semantic searching level. The needs came because most of current learning standard adopted web based learning and the e-learning systems do not always serve all educational goals. Semantic Web systems provide educators, students, and researchers with intelligent queries based on a semantic knowledge management learning system. An ontology-based learning system is an advanced system, where ontology plays the core of the semantic web in a smart learning environment. The objective of this paper is to discuss the potentials of ontologies and mapping different kinds of ontologies; heterogeneous or homogenous to manage and control different types of Open Educational Resources. The important contribution of this research is that it uses logical rules and conceptual relations to map between ontologies of different educational resources. We expect from this methodology to establish an intelligent educational system supporting student tutoring, self and lifelong learning system.

Keywords: Knowledge Management Systems, Ontologies, Semantic Web, Open Educational Resources.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1520

Authors: Humayun Murshed, Shibly Abdullah

Abstract:

The research conducted in early seventies apparently assumed the existence of a universal decision model for union negotiators and furthermore tended to regard financial information as a ‘neutral’ input into a rational decision making process. However, research in the eighties began to question the neutrality of financial information as an input in collective bargaining rather viewing it as a potentially effective means for controlling the labour force. Furthermore, this later research also started challenging the simplistic assumptions relating particularly to union objectives which have underpinned the earlier search for universal union decision models. Despite the above developments there seems to be a dearth of studies in developing countries concerning the use of financial information in collective bargaining. This paper seeks to begin to remedy this deficiency. Utilising a case study approach based on two enterprises, one in the public sector and the other a multinational, the universal decision model is rejected and it is argued that the decision whether or not to use financial information is a contingent one and such a contingency is largely defined by the context and environment in which both union and management negotiators work. An attempt is also made to identify the factors constraining as well as promoting the use of financial information in collective bargaining, these being regarded as unique to the organisations within which the case studies are conducted.

Keywords: Collective Bargaining, Developing Countries, Disclosures, Financial Information.

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

Authors: Ali Serhan Koyuncugil, Nermin Ozgulbas

Abstract:

In this paper, a data mining model to SMEs for detecting financial and operational risk indicators by data mining is presenting. The identification of the risk factors by clarifying the relationship between the variables defines the discovery of knowledge from the financial and operational variables. Automatic and estimation oriented information discovery process coincides the definition of data mining. During the formation of model; an easy to understand, easy to interpret and easy to apply utilitarian model that is far from the requirement of theoretical background is targeted by the discovery of the implicit relationships between the data and the identification of effect level of every factor. In addition, this paper is based on a project which was funded by The Scientific and Technological Research Council of Turkey (TUBITAK).

Keywords: Risk Management, Financial Risk, Operational Risk, Financial Early Warning System, Data Mining, CHAID Decision Tree Algorithm, SMEs.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3074

Authors: Hamzah Hussein Al-mawali, Yuserrie Zainuddin, Noor Nasir Kader Ali

Abstract:

The purpose of this paper is to contribute to the body of knowledge in the area of management accounting, particularly performance measurement systems within the BSC framework, by investigating empirically the extent of multiple performance measures usage and their effects on the financial performance of Jordanian banks in the branches level. Nevertheless, the result of this study shows that the non-financial measures usages, particularly, customer oriented indicators and product/ service oriented indicators, appears to be important as it enhances firm performance. Remarkably, the findings reveal that there is positive relationship between the usages of multiple performance measures via overall BSC measures and financial performance in the branches level.

Keywords: Performance measurements systems, BalancedScorecard, Jordan.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4875

Authors: R. Babisaraswathi, N. Shanthi, S. S. Kiruthika

Abstract:

Web search engines are designed to retrieve and extract the information in the web databases and to return dynamic web pages. The Semantic Web is an extension of the current web in which it includes semantic content in web pages. The main goal of semantic web is to promote the quality of the current web by changing its contents into machine understandable form. Therefore, the milestone of semantic web is to have semantic level information in the web. Nowadays, people use different keyword- based search engines to find the relevant information they need from the web. But many of the words are polysemous. When these words are used to query a search engine, it displays the Search Result Records (SRRs) with different meanings. The SRRs with similar meanings are grouped together based on Word Sense Disambiguation (WSD). In addition to that semantic annotation is also performed to improve the efficiency of search result records. Semantic Annotation is the process of adding the semantic metadata to web resources. Thus the grouped SRRs are annotated and generate a summary which describes the information in SRRs. But the automatic semantic annotation is a significant challenge in the semantic web. Here ontology and knowledge based representation are used to annotate the web pages.

Keywords: Ontology, Semantic Web, WordNet, Word Sense Disambiguation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1716