Search results for: Slovak banking sector

Authors: Faisal Asad Aburub

Abstract:

Many organizations are investing in web applications and technologies in order to be competitive, some of them could not achieve its goals. The quality of web-based applications could play an important role for organizations to be competitive. So the aim of this study is to investigate the impact of quality of web-based applications to achieve a competitive advantage. A new model has been developed. An empirical investigation was performed on a banking sector in Jordan to test the new model. The results show that impact of web-based applications on competitive advantage is significant. Finally, further work is planned to validate and evaluate the proposed model using several domains.

Keywords: Competitive advantage, web-based applications, empirical investigation.

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Authors: S. Anastasiou, C. Nathanailides

Abstract:

The purpose of this study is to examine the possible link between employee and customer satisfaction. The service provided by employees, help to build a good relationship with customers and can help at increasing their loyalty. Published data for job satisfaction and indicators of customer services of banks were gathered from relevant published works which included data from five different countries. The scores of customers and employees satisfaction of the different published works were transformed and normalized to the scale of 1 to 100. The data were analyzed and a regression analysis of the two parameters was used to describe the link between employee’s satisfaction and customer’s satisfaction. Assuming that employee satisfaction has a significant influence on customer’s service and the resulting customer satisfaction, the reviewed data indicate that employee’s satisfaction contributes significantly on the level of customer satisfaction in the Banking sector. There was a significant correlation between the two parameters (Pearson correlation R2=0.52 P<0.05). The reviewed data indicate that published data support the hypothesis that practical evidence link these two parameters. During the recent global economic crisis, the financial services sector was affected severely and job security, remuneration and recruitment of personnel of banks was in many countries, including Greece, significantly reduced. Nevertheless, modern organizations should always consider their personnel as a capital, which is the driving force for success in the future. Appropriate human resource management policies can increase the level of job satisfaction of the personnel with positive consequences for the level of customer’s satisfaction.

Keywords: Job satisfaction, job performance, customer service, banks, human resources management.

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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.

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Authors: M. Chavleishvili

Abstract:

The paper presents the analysis of the current situation of agricultural development in Georgia. The investment environment that supports development of the agricultural sector is evaluated and the key priorities are identified. The analysis of the projects already implemented with state and EU support, as well as those that are being currently implemented is presented. The policy and the programs supporting development of agricultural sector are analyzed. Based on an analysis of the evaluations of experts and the primary accounting documents, the outcomes of investment programs, their advantages and disadvantages, are studied. Through identifying investment programs in the agricultural sector of Georgia, corresponding conclusions are made, based on which some recommendations are developed.

Keywords: Agriculture, investments, investment programs, projects.

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Authors: Emel Kızılkaya Aydogan, Mihrimah Ozmen, Yılmaz Delice

Abstract:

In recent days, there is a change and the ongoing development of the telecommunications sector in the global market. In this sector, churn analysis techniques are commonly used for analysing why some customers terminate their service subscriptions prematurely. In addition, customer churn is utmost significant in this sector since it causes to important business loss. Many companies make various researches in order to prevent losses while increasing customer loyalty. Although a large quantity of accumulated data is available in this sector, their usefulness is limited by data quality and relevance. In this paper, a cost-sensitive feature selection framework is developed aiming to obtain the feature reducts to predict customer churn. The framework is a cost based optional pre-processing stage to remove redundant features for churn management. In addition, this cost-based feature selection algorithm is applied in a telecommunication company in Turkey and the results obtained with this algorithm.

Keywords: Churn prediction, data mining, decision-theoretic rough set, feature selection.

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Authors: Omid Sharifi, Member, ACM, Zeki Bayram, Member, ACM

Abstract:

We demonstrate through a sample application, Ebanking, that the Web Service Modelling Language Ontology component can be used as a very powerful object-oriented database design language with logic capabilities. Its conceptual syntax allows the definition of class hierarchies, and logic syntax allows the definition of constraints in the database. Relations, which are available for modelling relations of three or more concepts, can be connected to logical expressions, allowing the implicit specification of database content. Using a reasoning tool, logic queries can also be made against the database in simulation mode.

Keywords: Semantic web, ontology, E-banking, database, WSML, WSMO, E-R diagram.

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Authors: Farah Mahmoud Attallah, Sara El-Deeb

Abstract:

The non-profit sector has been heavily rising with the rise of sustainable development in developed and developing countries. Most economies are putting high pressure on this sector, believing that nongovernmental organizations (NGOs) are one of the main rescues during crises worldwide. However, with the rising number of those NGOs comes their incapability of sustaining their performance and fundraising. Additionally, donors who are considered the key partners for those organizations have become knowledgeable about this sector which made them more demanding, putting high pressure on those organizations to believe that there must be a valuable return for the economy in order to donate. This research aims to study the impact of a sustainable strategic planning model on raising loyal donors; the proposed model of this research presents several independent variables determining their impact on donors' intention to become loyal.

Keywords: Non-profit sector, non-governmental organizations, strategic planning, sustainable business model.

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Authors: S. H. Iranmanesh, L. Aliabadi, A. Mollajan

Abstract:

Integrated resilience engineering (IRE) is capable of returning banking systems to the normal state in extensive economic circumstances. In this study, information system of a large bank (with several branches) is assessed and optimized under severe economic conditions. Data envelopment analysis (DEA) models are employed to achieve the objective of this study. Nine IRE factors are considered to be the outputs, and a dummy variable is defined as the input of the DEA models. A standard questionnaire is designed and distributed among executive managers to be considered as the decision-making units (DMUs). Reliability and validity of the questionnaire is examined based on Cronbach's alpha and t-test. The most appropriate DEA model is determined based on average efficiency and normality test. It is shown that the proposed integrated design provides higher efficiency than the conventional RE design. Results of sensitivity and perturbation analysis indicate that self-organization, fault tolerance, and reporting culture respectively compose about 50 percent of total weight.

Keywords: Banking system, data envelopment analysis, DEA, integrated resilience engineering, IRE, performance evaluation, perturbation analysis.

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Authors: R. Tirado, G. Habert, A. Mailhac, S. Laurenceau

Abstract:

The rapid development of cities implies significant material inflows and outflows. The construction sector is one of the main consumers of raw materials and producers of waste. The waste from the building sector, for its quantity and potential for recovery, constitutes significant deposits requiring major efforts, by combining different actors, to achieve the circular economy's objectives. It is necessary to understand and know the current construction actors' knowledge of stocks, urban metabolism, deposits, and recovery practices in this context. This article aims to explore the role of local governments in planning strategies by facilitating a circular economy. In particular, the principal opportunities and challenges of communities for applying the principles of the circular economy in the building sector will be identified. The approach used for the study was to conduct semi-structured interviews with those responsible for circular economy projects within local administrations of some communities in France. The results show territories' involvement in the inclusion and application of the principles of the circular economy in the building sector. The main challenges encountered are numerous, hence the importance of having identified and described them so that the different actors can work to meet them.

Keywords: Building stock, circular economy, interview, local authorities.

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Authors: Ali Ihtiyar, Serdar Durdyev, Syuhaida Ismail

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Marketing is an essential issue to the survival of any real estate company in Turkey. There are some factors which are constraining the achievements of the marketing and sales strategies in the Turkey real estate industry. This study aims to identify and prioritise the most significant constraints to marketing in real estate sector and new strategies based on those constraints. This study is based on survey method, where the respondents such as credit counsellors, real estate investors, consultants, academicians and marketing representatives in Turkey were asked to rank forty seven sub-factors according to their levels of impact. The results of Multiattribute analytical technique indicated that the main subcomponents having impact on marketing in real estate sector are interest rates, real estate credit availability, accessibility, company image and consumer real income, respectively. The identified constraints are expected to guide the marketing team in a sales-effective way.

Keywords: Marketing, marketing constraints, Real estate marketing, Turkey real estate sector

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Authors: Nader Gharibnavaz, Hossein Yazdi

Abstract:

If organizations like Mellat Bank want to identify its customer market completely to reach its specified goals, it can segment the market to offer the product package to the right segment. Our objective is to offer a segmentation model for Iran banking market in Mellat bank view. The methodology of this project is combined by “segmentation on the basis of four part-quality variables" and “segmentation on the basis of different in means". Required data are gathered from E-Systems and researcher personal observation. Finally, the research offers the organization that at first step form a four dimensional matrix with 756 segments using four variables named value-based, behavioral, activity style, and activity level, and at the second step calculate the means of profit for every cell of matrix in two distinguished work level (levels α1:normal condition and α2: high pressure condition) and compare the segments by checking two conditions that are 1- homogeneity every segment with its sub segment and 2- heterogeneity with other segments, and so it can do the necessary segmentation process. After all, the last offer (more explained by an operational example and feedback algorithm) is to test and update the model because of dynamic environment, technology, and banking system.

Keywords: market segmentation model, banking system, Mellat bank

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Authors: Daniella Kucsma

Abstract:

The examination of the Public Service Organization’s performance evaluation includes several steps that help public organizations to develop a more efficient system. Public sector organizations have different characteristics than the competitive sector, so it can be stated that other/new elements become more important in their performance processes. The literature in this area is diverse, so highlighting an indicator system can be useful for introducing a system, but it is also worthwhile to measure the specific elements of the organization. In the case of a public service organization, due to the service obligation, it is usually possible to talk about a high number of users, so compliance is more difficult. For the organization, it is an important target to place great emphasis on the increase of service standards and the development of related processes. In this research, the health sector is given a prominent role, as it is a sensitive area where both organizational and individual performance is important for all participants. As a primary step, the content of the strategy is decisive, as this is important for the efficient structure of the process. When designing any system, it is important to review the expectations of the stakeholders, as this is primary when considering the design. The goal of this paper is to build the foundations of a performance management and indexing framework that can help a hospital to provide effective feedback and a direction that is important in assessing and developing a service and can become a management philosophy.

Keywords: health sector, public sector, performance management, strategy

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Authors: Libena Cernohorska, Jan Cernohorsky

Abstract:

This article aims to evaluate the impact of loans provided within the Czech banking sector on the growth of the Czech economy. The article is based on research of current scientific findings in respect to bank loans and economic development. The paper is based on data taken from the Czech Statistical Office on the development of the gross domestic product and data from the Czech National Bank on the development of loans from the period 2004-2015. Links between selected variables are tested using Granger causality tests. The results calculated confirm the hypothesis of the impact of the loans on economic growth, with a six-month delay. The results thus correspond to the standard economic findings and results of most previous studies.

Keywords: Bank, business cycle, economic growth, loans.

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Authors: Alexander Y. Vaninsky

Abstract:

It is suggested to evaluate environmental performance of energy sector using Data Envelopment Analysis with nondiscretionary factors (DEA-ND) with relative indicators as inputs and outputs. The latter allows for comparison of the objects essentially different in size. Inclusion of non-discretionary factors serves separation of the indicators that are beyond the control of the objects. A virtual perfect object comprised of maximal outputs and minimal inputs was added to the group of actual ones. In this setting, explicit solution of the DEA-ND problem was obtained. Energy sector of the United States was analyzed using suggested approach for the period of 1980 – 2006 with expected values of economic indicators for 2030 used for forming the perfect object. It was obtained that environmental performance has been increasing steadily for the period from 7.7% through 50.0% but still remains well below the prospected level

Keywords: DEA with Non Discretionary Factors, Environmental Performance, Energy Sector, Explicit Solution, Perfect Object.

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Authors: A. Alexandru, C. A. Alexandru, D. Coardos, E. Tudora

Abstract:

Big Data (BD) is associated with a new generation of technologies and architectures which can harness the value of extremely large volumes of very varied data through real time processing and analysis. It involves changes in (1) data types, (2) accumulation speed, and (3) data volume. This paper presents the main concepts related to the BD paradigm, and introduces architectures and technologies for BD and BD sets. The integration of BD with the Hadoop Framework is also underlined. BD has attracted a lot of attention in the public sector due to the newly emerging technologies that allow the availability of network access. The volume of different types of data has exponentially increased. Some applications of BD in the public sector in Romania are briefly presented.

Keywords: Big data, big data Analytics, Hadoop framework, cloud computing.

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Authors: Eshagh Rasouli Sarabi, Mir Saeed Moosavi

Abstract:

In Iran, due to abundance of energy resources, energy consumption is extraordinarily higher than international standards and transportation sector is considered to be one of the major consumers of energy. Moreover, air pollution in urban areas as a result of high dependence on private vehicle and lower standards of vehicles, high subsidies spent on fuel and time waste due to traffic congestion in urban areas all have led to speculations on new strategies and policies in order to control energy consumption in transportation sector. These strategies and policies will be introduced in this paper and their consequences will be analyzed with consideration to socio-economic factors affecting the urban society of Iran. Besides, the intention is to suggest and analyze new approaches such as broader application of public transportation system, demand management in transport sector, replacement of deteriorated vehicles, quality improvement in car manufacture and introduction of substitute fuels.

Keywords: Consumption, energy, fuel, transportation.

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Authors: Salavati, Adel, Ebadi Shaghayegh

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This study examines knowledge management in the public organizations in Iran. The purpose of this article is to provide a conceptual framework for application of knowledge management in public organizations. The study indicates that an increasing tendency for implementation of knowledge management in organizations is emerging. Nonetheless knowledge management in public organizations is toddler and little has been done to bring the subject to use in the public sector. The globalization of change and popularization of some values like participation, citizen-orientation and knowledge-orientation in the new theories of public administration requires that the knowledge management is considered and attend to in the public sector. This study holds that a knowledge management framework for public organizations is different from this in the public sector, because public sector is stakeholder-dependent while the private is shareholder-dependent. Based on the research, we provide a conceptual model. The model proposed involves three factors: Organizational, knowledge citizens and contextual factors. The study results indicate these factors affect on knowledge management in public organizations in Iran.

Keywords: Knowledge management, public organizations in Iran, model of knowledge management.

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Authors: Amalka Nawarathna, Nirodha Fernando, Zaid Alwan

Abstract:

Global carbon reduction is not merely a responsibility of environmentally advanced developed countries, but also a responsibility of developing countries regardless of their less impact on global carbon emissions. In recognition of that, Sri Lanka as a developing country has initiated promoting green building construction as one reduction strategy. However, notwithstanding the increasing attention on Embodied Carbon (EC) reduction in the global building sector, they still mostly focus on Operational Carbon (OC) reduction (through improving operational energy). An adequate attention has not yet been given on EC estimation and reduction. Therefore, this study aims to identify the reasons for the slow uptake of EC estimation in the Sri Lankan building sector. To achieve this aim, 16 numbers of global barriers to estimate EC were identified through existing literature. They were then subjected to a pilot survey to identify the significant reasons for the slow uptake of EC estimation in the Sri Lankan building sector. A questionnaire with a three-point Likert scale was used to this end. The collected data were analysed using descriptive statistics. The findings revealed that 11 out of 16 challenges/ barriers are highly relevant as reasons for the slow uptake in estimating EC in buildings in Sri Lanka while the other five challenges/ barriers remain as moderately relevant reasons. Further, the findings revealed that there are no low relevant reasons. Eventually, the paper concluded that all the known reasons are significant to the Sri Lankan building sector and it is necessary to address them in order to upturn the attention on EC reduction.

Keywords: Embodied carbon emissions, embodied carbon estimation, global carbon reduction, Sri Lankan building sector.

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Authors: Lan Sun, Subhrendu Rath

Abstract:

This is a comprehensive large-sample study of Australian earnings management. Using a sample of 4,844 firm-year observations across nine Australia industries from 2000 to 2006, we find substantial corporate earnings management activity across several Australian industries. We document strong evidence of size and return on assets being primary determinants of earnings management in Australia. The effects of size and return on assets are also found to be dominant in both income-increasing and incomedecreasing earnings manipulation. We also document that that periphery sector firms are more likely to involve larger magnitude of earnings management than firms in the core sector.

Keywords: Earnings management, discretionary accruals, income-increasing/decreasing manipulation, dual economy sector

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Authors: Bita Mashayekhi, Seyed Meisam Tabatabaie Nasab

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Intellectual capital is one of the most valuable and important parts of the intangible assets of enterprises especially in knowledge-based enterprises. With respect to increasing gap between the market value and the book value of the companies, intellectual capital is one of the components that can be placed in this gap. This paper uses the value added efficiency of the three components, capital employed, human capital and structural capital, to measure the intellectual capital efficiency of Iranian industries groups, listed in the Tehran Stock Exchange (TSE), using a 8 years period data set from 2005 to 2012. In order to analyze the effect of intellectual capital on the market-to-book value ratio of the companies, the data set was divided into 10 industries, Banking, Pharmaceutical, Metals & Mineral Nonmetallic, Food, Computer, Building, Investments, Chemical, Cement and Automotive, and the panel data method was applied to estimating pooled OLS. The results exhibited that value added of capital employed has a positive significant relation with increasing market value in the industries, Banking, Metals & Mineral Nonmetallic, Food, Computer, Chemical and Cement, and also, showed that value added efficiency of structural capital has a positive significant relation with increasing market value in the Banking, Pharmaceutical and Computer industries groups. The results of the value added showed a negative relation with the Banking and Pharmaceutical industries groups and a positive relation with computer and Automotive industries groups. Among the studied industries, computer industry has placed the widest gap between the market value and book value in its intellectual capital.

Keywords: Capital Employed, Human Capital, Intellectual Capital, Market-to-Book Value, Structural Capital, Value Added Efficiency.

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Authors: Alan Dormer

Abstract:

Business rules are widely used within the services sector. They provide consistency and allow relatively unskilled staff to process complex transactions correctly. But there are many examples where the rules themselves have an impact on the costs and profits of an organisation. Financial services, transport and human services are areas where the rules themselves can impact the bottom line in a predictable way. If this is the case, how can we find that set of rules that maximise profit, performance or customer service, or any other key performance indicators? The manufacturing, energy and process industries have embraced mathematical optimisation techniques to improve efficiency, increase production and so on. This paper explores several real world (but simplified) problems in the services sector and shows how business rules can be optimised. It also examines the similarities and differences between the service and other sectors, and how optimisation techniques could be used to deliver similar benefits.

Keywords: Business rules, services, optimisation.

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Authors: Gulsevim Yumuk Gunay, Suleyman Gokhan Gunay

Abstract:

Corporate social responsibility (CSR) can be defined as the management of social, environmental, economical and ethical concepts and firms sensivities to the expectations of the social stakeholders. CSR is seen as an important competitive advantage in the textile sector because this sector has an important impact on the environment and it is labor extensive. Textile sector has a strong advantage when compared with other sectors in Turkey due to its low labor costs and abundancy of raw materials. Turkey was a producer and an exporter of cotton, and an importer of fiber, clothes and dresses until 1950s. After 1950s, Turkey has begun to export fiber, ready-made clothes and become one of the most important textile producers in the world recently. CSR practices of the textile firms that are quoted in Istanbul Stock Exchange and these firms sensivities to their internal and external stakeholders and environment will be presented in this study.

Keywords: corporate social responsibility, Istanbul Stock Exchange, textile sector, Turkey

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Authors: Wajiha Javed, Arsalan Jabbar, Nelofer Mehboob, Muhammad Tafseer, Zahid Memon

Abstract:

Introduction: Researchers globally have strived to explore diverse factors that augment the continuation and uptake of family planning methods. Clients’ satisfaction is one of the core determinants facilitating continuation of family planning methods. There is a major debate yet scanty evidence to contrast public and private sectors with respect to client satisfaction. The objective of this study is to compare quality-of-care provided by public and private sectors of Pakistan through a client satisfaction lens. Methods: We used Pakistan Demographic Heath Survey 2012-13 dataset on 3133 women. Ten different multivariate models were made. to explore the relationship between client satisfaction and dependent outcome after adjusting for all known confounding factors and results are presented as OR and AOR (95% CI). Results: Multivariate analyses showed that clients were less satisfied in contraceptive provision from private sector as compared to public sector (AOR 0.92, 95% CI 0.63-1.68) even though the result was not statistically significant. Clients were more satisfied from private sector as compared to the public sector with respect to other determinants of quality-of-care follow-up care (AOR 3.29, 95% CI 1.95-5.55), infection prevention (AOR 2.41, 95% CI 1.60-3.62), counseling services (AOR 2.01, 95% CI 1.27-3.18, timely treatment (AOR 3.37, 95% CI 2.20-5.15), attitude of staff (AOR 2.23, 95% CI 1.50-3.33), punctuality of staff (AOR 2.28, 95% CI 1.92-4.13), timely referring (AOR 2.34, 95% CI 1.63-3.35), staff cooperation (AOR 1.75, 95% CI 1.22-2.51) and complications handling (AOR 2.27, 95% CI 1.56-3.29). Discussion: Public sector has successfully attained substantial satisfaction levels with respect to provision of contraceptives, but it contrasts previous literature from a multi country studies. Our study though in is concordance with a study from Tanzania where public sector was more likely to offer family planning services to clients as compared to private facilities. Conclusion: In majority of the developing countries, public sector is more involved in FP service provision; however, in Pakistan clients’ satisfaction in private sector is more, which opens doors for public-private partnerships and collaboration in the near future. 

Keywords: Client satisfaction, Family Planning, Public private partnership, Quality of care

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Authors: Fabrício José Piacente, Vanessa de Cillos Silva, Thigo Luiz Mello Melato

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The construction industry has been demonstrating increased growth and importance in Brazil’s national economic development. This study aims to evaluate the financial performance of the leading companies in the construction sector in Brazil in the period from 2009 to 2012. An analysis is made of the capital structure, liquidity, and profitability of the six largest companies in the construction sector in Brazil: Brookfield, Cyrela, Gafisa, MRV, PDG and Rossi. The results are then compared with standard industry ratios. It was found that among the companies analyzed, MRV and Cyrela showed the best relative performance in the period under consideration.

Keywords: Accounting ratios, construction, financial performance.

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Authors: Musa Bala Zakari, Mark Button

Abstract:

This paper explores the extent, nature, and characteristics of public sector corruption in Nigeria and the enhancement of the major anti-corruption initiatives (reforms), thereby providing insight into the types, forms and causes of corruption in Nigeria. This paper argues that attempts to devise and suggest effective anti-corruption reforms to control systemic corruption in Nigeria require identifying the most prevalent types of corruption targeted and tackling the fundamental country specific causes. It analyses two types of public sector corruption as it relates to Nigeria and the workings of its inefficient governance system. This paper concludes with the imperative of a collective action against corruption supported by considerable amount of domestic political will existing in a favourable policy context. In undertaking this, the paper draws upon publicly available documents, case laws review and semi-structured interviews conducted with various personnel working in the field of corruption in the dedicated anticorruption agencies, academics, and practitioners from other relevant institutions of accountability.

Keywords: Corruption, development, good governance, public sector.

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Authors: Zuzana Crhová, Marie Paseková

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This contribution aims to compare legislation adjusting the course of insolvency proceedings in France, Germany and Slovakia. On the basis of an investigation of the legislative adjustment of this problem, an attempt is made to ascertain in the given countries the extent to which the outcome of the entire proceedings is influenced by legislation and to determine the fundamental moments that influence costs, recovery rate and the duration of proceedings. A comparative analysis was utilized in order to achieve the set goal. The results of the survey could be used to improve legislation so as to lead in the best and most expedient way to a departure from the market of those subjects that are for economic reasons unable to continue with their activities whilst burdening the entire process with the lowest possible costs, which would lead to a high level of satisfaction for creditors. 

Keywords: Costs, Insolvency Proceeding, Recovery Rate, Time.

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Authors: Rami H. Fouad

Abstract:

The purpose of this study is to identify and evaluate the scale of implementation of Just-In-Time (JIT) in the different industrial sectors in the Middle East. This study analyzes the empirical data collected by a questionnaire survey distributed to companies in three main industrial sectors in the Middle East, which are: food, chemicals and fabrics. The following main hypotheses is formulated and tested: (The requirements of JIT application differ according to the type of industrial sector).Descriptive statistics and Box plot analysis were used to examine the hypotheses. This study indicates a reasonable evidence for accepting the main hypotheses. It reveals that there is no standard way to adopt JIT as a production system. But each industrial sector should concentrate in the investment on critical requirements that differ according to the nature and strategy of production followed in that sector.

Keywords: Just-In-Time, JIT, Questionnaire, Types of Industrial Sectors.

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Authors: Subramaniam Chandran

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This paper analyses the structural changes in education sector since the introduction of liberalization policy in India. This paper explains how the so-called non-profit trusts and societies appropriated the liberalization policy and enhanced themselves as new capitalist class in higher education sector. Over the decades, the policy witnessed the role of private sector in terms of maintaining market equilibrium. The state also witnessed the incompatibility of the private sector in inculcating the values of social justice. The most important consequence of the policy is to witness the rise of new capitalist class and academic capitalism. When the state came to realize that it no longer cope up with market demands, it opens the entry of private sector in higher education. Concessions and tax exemptions were provided to the trusts and societies to establish higher education institutions. There is a basic difference between western countries and India in providing higher education by the trusts and societies. In western countries the big business houses contributed their surplus revenues to promote higher education and research as a complementary service to society and nation. In India, several entrepreneurs came up with business motive using education sector. Over the period, they accumulated wealth at the cost of students and concessions from the government. Four major results can now be identified: production of manpower in view of market demands; reduction of standards in higher education; bypassing the values of social justice; and the rise of new capitalist class from the business of education. This paper tries to substantiate these issues with the inputs from case studies.

Keywords: New capitalism, market, social justice, higher education

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Authors: Ayşe Coban, Orhan Coban, Haldun Soydal, Sükrü Sürücü

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While health is a source of prosperity for individuals, it is also one of the most important determinants of economic growth for a country. Health, by increasing the productivity of labor, contributes to economic growth. Therefore, countries should give the necessary emphasis to health services. The primary aim of this study is to analyze the changes occurring in health services in Turkey by examining the developments in the sector. In this scope, the second aim of the study is to reveal the place of health expenditures in the Turkish economy. As a result of the analysis in the dataset, in which the 1999-2013 periods is considered, it was determined that some increase in health expenditures took place and that the increase in the share of health expenditures in GDP was too small. Furthermore, analysis of the results points out that in financing health expenditures, the public sector is prominent compared to the private sector.

Keywords: Healthcare, health service, health expenditures, Turkey.

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Authors: F. May Liou, Y. C. Edwin Tang

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This paper aims to provide a conceptual framework to examine competitive disadvantage of banks that suffer from poor performance. Banks generate revenues mainly from the interest rate spread on taking deposits and making loans while collecting fees in the process. To maximize firm value, banks seek loan growth and expense control while managing risk associated with loans with respect to non-performing borrowers or narrowing interest spread between assets and liabilities. Competitive disadvantage refers to the failure to access imitable resources and to build managing capabilities to gain sustainable return given appropriate risk management. This paper proposes a four-quadrant framework of organizational typology is subsequently proposed to examine the features of competitive disadvantage in the banking sector. A resource configuration model, which is extracted from CAMEL indicators to examine the underlying features of bank failures.

Keywords: Bank failure, CAMEL, competitive disadvantage, resource configuration.

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