Search results for: Stock market investment

Authors: Yeonjeong Lee, Kyoung-jae Kim, Youngtae Kim

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This study proposes a novel recommender system that uses data mining and multi-model ensemble techniques to enhance the recommendation performance through reflecting the precise user’s preference. The proposed model consists of two steps. In the first step, this study uses logistic regression, decision trees, and artificial neural networks to predict customers who have high likelihood to purchase products in each product group. Then, this study combines the results of each predictor using the multi-model ensemble techniques such as bagging and bumping. In the second step, this study uses the market basket analysis to extract association rules for co-purchased products. Finally, the system selects customers who have high likelihood to purchase products in each product group and recommends proper products from same or different product groups to them through above two steps. We test the usability of the proposed system by using prototype and real-world transaction and profile data. In addition, we survey about user satisfaction for the recommended product list from the proposed system and the randomly selected product lists. The results also show that the proposed system may be useful in real-world online shopping store.

Keywords: Product recommender system, Ensemble technique, Association rules, Decision tree, Artificial neural networks.

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Authors: Batin Latif Aylak, Bernd Noche

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Overhead conveyor systems are in use in many installations around the world, meeting the widest range of applications possible. Overhead conveyor systems are particularly preferred in automotive industry but also at post offices. Overhead conveyor systems must always be integrated with a logistical process by finding the best way for a cheaper material flow in order to guarantee precise and fast workflows. With their help, any transport can take place without wasting ground and space, without excessive company capacity, lost or damaged products, erroneous delivery, endless travels and without wasting time. Ultra-light overhead conveyor systems are rope-based conveying systems with individually driven vehicles. The vehicles can move automatically on the rope and this can be realized by energy and signals. Crossings are realized by switches. Ultra-light overhead conveyor systems provide optimal material flow, which produces profit and saves time. This article introduces two new ultra-light overhead conveyor designs in logistics and explains their components. According to the explanation of the components, scenarios are created by means of their technical characteristics. The scenarios are visualized with the help of CAD software. After that, assumptions are made for application area. According to these assumptions scenarios are visualized. These scenarios help logistics companies achieve lower development costs as well as quicker market maturity.

Keywords: Logistics, material flow, overhead conveyor.

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Authors: A. T. Asutosh, J. Woo, M. Kouhirostami, M. Sam, A. Khantawang, C. Cuales, W. Ryor, C. Kibert

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Climate change and global warming vortex have grown to alarming proportions. Therefore, the need for a shift in the conceptualization of energy production is paramount. Energy practices have been created in the current situation. Fossil fuels continue their prominence, at the expense of renewable sources. Despite this abundance, a large percentage of the world population still has no access to electricity but there have been encouraging signs in global movement from nonrenewable to renewable energy but means to reverse climate change have been elusive. Worldwide, organizations have put tremendous effort into innovation. Conferences and exhibitions act as a platform that allows a broad exchange of information regarding trends in the renewable energy field. The Solar Power International (SPI) conference and exhibition is a gathering of concerned activists, and probably the largest convention of its kind. This study investigates current development in the renewable energy field, analyzing means by which industry is being applied to the issue. In reviewing the 2019 SPI conference, it was found innovations in recycling and assessing the environmental impacts of the solar products that need critical attention. There is a huge movement in the electrical storage but there exists a large gap in the development of security systems. This research will focus on solar energy, but impacts will be relevant to the entire renewable energy market.

Keywords: Climate change, renewable energy, solar, trends, research, SPI.

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Authors: J. Arneric, A. Rozga

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In this paper usefulness of quasi-Newton iteration procedure in parameters estimation of the conditional variance equation within BHHH algorithm is presented. Analytical solution of maximization of the likelihood function using first and second derivatives is too complex when the variance is time-varying. The advantage of BHHH algorithm in comparison to the other optimization algorithms is that requires no third derivatives with assured convergence. To simplify optimization procedure BHHH algorithm uses the approximation of the matrix of second derivatives according to information identity. However, parameters estimation in a/symmetric GARCH(1,1) model assuming normal distribution of returns is not that simple, i.e. it is difficult to solve it analytically. Maximum of the likelihood function can be founded by iteration procedure until no further increase can be found. Because the solutions of the numerical optimization are very sensitive to the initial values, GARCH(1,1) model starting parameters are defined. The number of iterations can be reduced using starting values close to the global maximum. Optimization procedure will be illustrated in framework of modeling volatility on daily basis of the most liquid stocks on Croatian capital market: Podravka stocks (food industry), Petrokemija stocks (fertilizer industry) and Ericsson Nikola Tesla stocks (information-s-communications industry).

Keywords: Heteroscedasticity, Log-likelihood Maximization, Quasi-Newton iteration procedure, Volatility.

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Authors: Alhaji M. H. Conteh, Xiangbin Yan, Alfred V. Gborie

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The goal of this study was to increase the awareness of the description and assessments of rice acreage response and to offer mechanisms for agricultural policy scrutiny. The ordinary least square (OLS) technique was utilized to determine the coefficients of acreage response models for the rice varieties. The magnitudes of the coefficients (λ) of both the ROK lagged and NERICA lagged acreages were found positive and highly significant, which indicates that farmers’ adjustment rate was very low. Regarding lagged actual price for both the ROK and NERICE rice varieties, the short-run price elasticitieswere lower than long-run, which is suggesting a long term adjustment of the acreage under the crop.

However, the apparent recommendations for policy transformation are to open farm gate prices and to decrease government’s involvement in agricultural sector especially in the acquisition of agricultural inputs. Impending research have to be centered on how this might be better realized. Necessary conditions should be made available to the private sector by means of minimizing price volatility. In accordance with structural reforms, it is necessary to convey output prices to farmers with minimum distortion. There is need to eradicate price subsidies and control, which generate distortion in the market in addition to huge financial costs.

Keywords: Acreage response, rate of adjustment, rice varieties, Sierra Leone.

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Authors: Gökçen A. Çiftçioğlu, M. A. Neşet Kadırgan, Figen Kadırgan

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Solar energy, since it is available every day, is seen as one of the most valuable renewable energy resources. Thus, the energy of sun should be efficiently used in various applications. The most known applications that use solar energy are heating water and spaces. High efficiency solar collectors need appropriate selective surfaces to absorb the heat. Selective surfaces (Selektif-Sera) used in this study are applied to flat collectors, which are produced by a roll to roll cost effective coating of nano nickel layers, developed in Selektif Teknoloji Co. Inc. Efficiency of flat collectors using Selektif-Sera absorbers are calculated in collaboration with Institute for Solar Technik Rapperswil, Switzerland. The main cause of high energy consumption in industry is mostly caused from low temperature level processes. There is considerable effort in research to minimize the energy use by renewable energy sources such as solar energy. A feasibility study will be presented to obtain the potential of solar thermal energy utilization in the textile industry using these solar collectors. For the feasibility calculations presented in this study, textile dyeing and finishing factory located at Kahramanmaras is selected since the geographic location was an important factor. Kahramanmaras is located in the south east part of Turkey thus has a great potential to have solar illumination much longer. It was observed that, the collector area is limited by the available area in the factory, thus a hybrid heating generating system (lignite/solar thermal) was preferred in the calculations of this study to be more realistic. During the feasibility work, the calculations took into account the preheating process, where well waters heated from 15 °C to 30-40 °C by using the hot waters in heat exchangers. Then the preheated water was heated again by high efficiency solar collectors. Economic comparison between the lignite use and solar thermal collector use was provided to determine the optimal system that can be used efficiently. The optimum design of solar thermal systems was studied depending on the optimum collector area. It was found that the solar thermal system is more economic and efficient than the merely lignite use. Return on investment time is calculated as 5.15 years.

Keywords: Solar energy, heating, solar heating.

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Authors: Penn P. Wu, Jeannie Jo

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Blockchain technology has rapidly gained popularity in industry. This paper attempts to assist academia to answer four questions. First, should community colleges begin offering education to nurture blockchain-literate students for the job market? Second, what are the appropriate topical areas to cover? Third, should it be an individual course? And forth, should it be a technical or management course? This paper starts with identifying the knowledge domains of blockchain technology and the topical areas each domain has, and continues with placing them in appropriate academic territories (Computer Sciences vs. Business) and subjects (programming, management, marketing, and laws), and then develops an evaluation model to determine the appropriate topical area for community colleges to teach. The evaluation is based on seven factors: maturity of technology, impacts on management, real-world applications, subject classification, knowledge prerequisites, textbook readiness, and recommended pedagogies. The evaluation results point to an interesting direction that offering an introductory course is an ideal option to guide students through the learning journey of what blockchain is and how it applies to business. Such an introductory course does not need to engage students in the discussions of mathematics and sciences that make blockchain technologies possible. While it is inevitable to brief technical topics to help students build a solid knowledge foundation of blockchain technologies, community colleges should avoid offering students a course centered on the discussion of developing blockchain applications.

Keywords: Blockchain, pedagogies, blockchain technologies, blockchain course, blockchain pedagogies.

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Authors: Phichak Phutrakhul

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The purposes of this research were to study concepts and strategies of human resource development in the automotive manufacturers and to articulate the proposals against the government about the human resource development for automotive industry. In the present study, qualitative study was an in-depth interview in which the qualitative data were collected from the executive or the executive of human resource division from five automotive companies - Toyota Motor (Thailand) Co., Ltd., Nissan Motor (Thailand) Co., Ltd., Mitsubishi Motors (Thailand) Co., Ltd., Honda Automobile (Thailand) Co., Ltd., and Suzuki Motor (Thailand) Co., Ltd. Qualitative data analysis was performed by using inter-coder agreement technique. The research findings were as follows: The external factors included the current conditions of the automotive industry, government’s policy related to the automotive industry, technology, labor market and human resource development systems of the country. The internal factors included management, productive management, organizational strategies, leadership, organizational culture and philosophy of human resource development. These factors were affected to the different concept of human resources development -the traditional human resource development and the strategies of human resource development. The organization focuses on human resources as intellectual capital and uses the strategies of human resource development in all development processes. The strategies of human resource development will enhance the ability of human resources in the organization and the country.

Keywords: Human Resource Development Strategy, Automotive industry, Eco-Cars, ASEAN.

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Authors: Petr Teply, Ondrej Vejdovec

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There are three main ways of categorizing capital in banking operations: accounting, regulatory and economic capital. However, the 2008-2009 global crisis has shown that none of these categories adequately reflects the real risks of bank operations, especially in light of the failures Bear Stearns, Lehman Brothers or Northern Rock. This paper deals with the economic capital allocation of global banks. In theory, economic capital should reflect the real risks of a bank and should be publicly available. Yet, as discovered during the global financial crisis, even when economic capital information was publicly disclosed, the underlying assumptions rendered the information useless. Specifically, some global banks that reported relatively high levels of economic capital before the crisis went bankrupt or had to be bailed-out by their government. And, only 15 out of 50 global banks reported their economic capital during the 2007-2010 period. In this paper, we analyze the changes in reported bank economic capital disclosure during this period. We conclude that relative shares of credit and business risks increased in 2010 compared to 2007, while both operational and market risks decreased their shares on the total economic capital of top-rated global banks. Generally speaking, higher levels of disclosure and transparency of bank operations are required to obtain more confidence from stakeholders. Moreover, additional risks such as liquidity risks should be included in these disclosures.

Keywords: global crisis, economic capital, risk management, risk allocation, bank

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Authors: Ujjwala Bhand, Mridula Goel

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Global Competitiveness Index (GCI) prepared by World Economic Forum has become a benchmark in studying the competitiveness of countries and for understanding the factors that enable competitiveness. Innovation is a key pillar in competitiveness and has the unique property of enabling exponential economic growth. This paper attempts to analyze how the pillars comprising the Global Competitiveness Index affect innovation and whether GDP growth can directly affect innovation outcomes for a country. The key objective of the study is to identify areas on which governments of developing countries can focus policies and programs to improve their country’s innovativeness. We have compiled a panel data set for top innovating countries and large emerging economies called BRICS from 2007-08 to 2014-15 in order to find the significant factors that affect innovation. The results of the regression analysis suggest that government should make policies to improve labor market efficiency, establish sophisticated business networks, provide basic health and primary education to its people and strengthen the quality of higher education and training services in the economy. The achievements of smaller economies on innovation suggest that concerted efforts by governments can counter any size related disadvantage, and in fact can provide greater flexibility and speed in encouraging innovation.

Keywords: Innovation, Global Competitiveness Index, BRICS, economic growth.

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Authors: Siti Azrina B. A. Aziz, Siti Hafizah A. Hamid

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New approaches to analyze and visualize data stream in real-time basis is important in making a prompt decision by the decision maker. Financial market trading and surveillance, large-scale emergency response and crowd control are some example scenarios that require real-time analytic and data visualization. This situation has led to the development of techniques and tools that support humans in analyzing the source data. With the emergence of Big Data and social media, new techniques and tools are required in order to process the streaming data. Today, ranges of tools which implement some of these functionalities are available. In this paper, we present chronological evolution evaluation of technologies for supporting of real-time analytic and visualization of the data stream. Based on the past research papers published from 2002 to 2014, we gathered the general information, main techniques, challenges and open issues. The techniques for streaming text visualization are identified based on Text Visualization Browser in chronological order. This paper aims to review the evolution of streaming text visualization techniques and tools, as well as to discuss the problems and challenges for each of identified tools.

Keywords: Information visualization, visual analytics, text mining, visual text analytics tools, big data visualization.

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Authors: M. Aboudalle, Le Btth, M. Sari, F. Meftah

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In parallel with the appearance of new materials, brick masonry had and still has an essential part of the construction market today, with new technical challenges in designing bricks to meet additional requirements. Being used in structural applications, predicting the performance of clay brick masonry allows a significant cost reduction, in terms of practical experimentation. The behavior of masonry walls depends on the behavior of their elementary components, such as bricks, joints, and coatings. Therefore, it is necessary to consider it at different scales (from the scale of the intrinsic material to the real scale of the wall) and then to develop appropriate models, using numerical simulations. The work presented in this paper focuses on the mechanical characterization of the terracotta material at ambient temperature. As a result, the static Young’s modulus obtained from the flexural test shows different values in comparison with the compression test, as well as with the dynamic Young’s modulus obtained from the Impulse excitation of vibration test. Moreover, the Young's modulus varies according to the direction in which samples are extracted, where the values in the extrusion direction diverge from the ones in the orthogonal directions. Based on these results, hollow bricks can be considered as transversely isotropic bimodulus material.

Keywords: Bimodulus material, hollow clay brick, impulse excitation of vibration, transversely isotropic material, Young’s modulus.

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Authors: Libor Zachoval, Daire O Broin, Oisin Cawley

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E-learning platforms, such as Blackboard have two major shortcomings: limited data capture as a result of the limitations of SCORM (Shareable Content Object Reference Model), and lack of incorporation of Artificial Intelligence (AI) and machine learning algorithms which could lead to better course adaptations. With the recent development of Experience Application Programming Interface (xAPI), a large amount of additional types of data can be captured and that opens a window of possibilities from which online education can benefit. In a corporate setting, where companies invest billions on the learning and development of their employees, some learner behaviours can be troublesome for they can hinder the knowledge development of a learner. Behaviours that hinder the knowledge development also raise ambiguity about learner’s knowledge mastery, specifically those related to gaming the system. Furthermore, a company receives little benefit from their investment if employees are passing courses without possessing the required knowledge and potential compliance risks may arise. Using xAPI and rules derived from a state-of-the-art review, we identified three learner behaviours, primarily related to guessing, in a corporate compliance course. The identified behaviours are: trying each option for a question, specifically for multiple-choice questions; selecting a single option for all the questions on the test; and continuously repeating tests upon failing as opposed to going over the learning material. These behaviours were detected on learners who repeated the test at least 4 times before passing the course. These findings suggest that gauging the mastery of a learner from multiple-choice questions test scores alone is a naive approach. Thus, next steps will consider the incorporation of additional data points, knowledge estimation models to model knowledge mastery of a learner more accurately, and analysis of the data for correlations between knowledge development and identified learner behaviours. Additional work could explore how learner behaviours could be utilised to make changes to a course. For example, course content may require modifications (certain sections of learning material may be shown to not be helpful to many learners to master the learning outcomes aimed at) or course design (such as the type and duration of feedback).

Keywords: Compliance Course, Corporate Training, Learner Behaviours, xAPI.

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Authors: Meeta Ratawa Tiwary

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Damaturu is the capital of Yobe State in northeastern Nigeria where civic amenities and facilities are not adequate even after 24 years of its existence. The volatile security and political situations are most significant causes for the same. The basic facility for the citizens in terms of drinking water and electricity are not available. For the drinking water, they have to rely on personal boreholes or the filtered borehole waters available in packaged sachets in market. The present study is concerned with environmental impact of indiscriminate disposal of drinking synthetic polythene water sachets in Damaturu. The sachet water is popularly called as “pure water”, but its purity is questionable. Increased production and consumption of sachet water has led to indiscriminate dumping and disposal of empty sachets leading to serious environmental threat. The evidence of this is seen for sachets littering the streets and the drainages blocked by ‘blocks’ of water sachet waste. Sachet water gained much popularity in Nigeria because the product is convenient for use, affordable and economically viable. The present study aims to find out the solution to this environmental problem. The fieldbased study has found some significant factors that cause environmental and socio economic effect due to this. Some recommendations have been made based on research findings regarding sustainable waste management, recycling and re-use of the non-biodegradable products in society.

Keywords: Civic amenities, non-biodegradable, pure water, sustainable environment, waste disposal.

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Authors: Mefleh S. Hamideen

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In this investigation, activity concentration of 226Ra, 232Th, and 40K, of some ceramic tile materials used in the local market of Jordan for interior decoration were determined by making use of High Purity Germanium (HPGe) detector. Twenty samples of different country of origin and sizes used in Jordan were analyzed. The concentration values of the last-mentioned radionuclides ranged from 30 Bq.kg-1 (Sample from Jordan) to 98 Bq.kg-1 (Sample from China) for 226Ra, 31 Bq.kg-1 (Sample from Italy) to 98 Bq.kg-1 (Sample from China) for 232Th, and 129 Bq.kg-1 (Sample from Spain) to 679 Bq.kg-1 (Sample from Italy) for 40K. Based on the calculated activity concentrations, some radiological parameters have been calculated to test the radiation hazards in the ceramic tiles. In this work, the following parameters: Total absorbed dose rate (DR), Annual effective dose rate (HR), Radium equivalent activity (Raeq), Radon emanation coefficient F (%) and Radon mass exhalation rate (Em) were calculated for all ceramic tiles and listed in the body of the work. Fortunately, the average calculated values of all parameters are less than the recommended values for each parameter. Consequently, almost all the examined ceramic materials appear to have low radon emanation coefficients. As a result of that investigation, no problems on people can appear by using those ceramic tiles in Jordan.

Keywords: radon emanation coefficient, radon mass exhalation rate, total annual effective dose, radon level

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Authors: M. Graus, K. Westhoff, X. Xu

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The climate change causes a change in all aspects of society. While the expansion of renewable energies proceeds, industry could not be convinced based on general studies about the potential of demand side management to reinforce smart grid considerations in their operational business. In this article, a procedure model for a case-specific data-driven decision support for industrial energy management based on a holistic data analytics approach is presented. The model is executed on the example of the strategic decision problem, to integrate the aspect of renewable energies into industrial energy management. This question is induced due to considerations of changing the electricity contract model from a standard rate to volatile energy prices corresponding to the energy spot market which is increasingly more affected by renewable energies. The procedure model corresponds to a data analytics process consisting on a data model, analysis, simulation and optimization step. This procedure will help to quantify the potentials of sustainable production concepts based on the data from a factory. The model is validated with data from a printer in analogy to a simple production machine. The overall goal is to establish smart grid principles for industry via the transformation from knowledge-driven to data-driven decisions within manufacturing companies.

Keywords: Data analytics, green production, industrial energy management, optimization, renewable energies, simulation.

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Authors: Mei-Se Chien, Chien-Chiang Lee, Sin-Jie Cai

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The main purpose of this paper is to investigate thelong-run equilibrium and short-run dynamics of international housing prices when macroeconomic variables change. We apply the Pedroni’s, panel cointegration, using the unbalanced panel data analysis of 33 countries over the period from 1980Q1 to 2013Q1, to examine the relationships among house prices and macroeconomic variables. Our empirical results of panel data cointegration tests support the existence of a cointegration among these macroeconomic variables and house prices. Besides, the empirical results of panel DOLS further present that a 1% increase in economic activity, long-term interest rates, and construction costs cause house prices to respectively change 2.16%, -0.04%, and 0.22% in the long run.Furthermore, the increasing economic activity and the construction cost would cause strongerimpacts on the house prices for lower income countries than higher income countries.The results lead to the conclusion that policy of house prices growth can be regarded as economic growth for lower income countries. Finally, in America region, the coefficient of economic activity is the highest, which displays that increasing economic activity causes a faster rise in house prices there than in other regions. There are some special cases whereby the coefficients of interest rates are significantly positive in America and Asia regions.

Keywords: House prices, Macroeconomic Variables, Panel cointegration, Dynamic OLS.

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Authors: Sunitha Ramanujam, Hany El Yamany, Miriam A. M. Capretz

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Software reliability, defined as the probability of a software system or application functioning without failure or errors over a defined period of time, has been an important area of research for over three decades. Several research efforts aimed at developing models to improve reliability are currently underway. One of the most popular approaches to software reliability adopted by some of these research efforts involves the use of operational profiles to predict how software applications will be used. Operational profiles are a quantification of usage patterns for a software application. The research presented in this paper investigates an innovative multiagent framework for automatic creation and management of operational profiles for generic distributed systems after their release into the market. The architecture of the proposed Operational Profile MAS (Multi-Agent System) is presented along with detailed descriptions of the various models arrived at following the analysis and design phases of the proposed system. The operational profile in this paper is extended to comprise seven different profiles. Further, the criticality of operations is defined using a new composed metrics in order to organize the testing process as well as to decrease the time and cost involved in this process. A prototype implementation of the proposed MAS is included as proof-of-concept and the framework is considered as a step towards making distributed systems intelligent and self-managing.

Keywords: Software reliability, Software testing, Metrics, Distributed systems, Multi-agent systems

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Authors: Chia-Min Lai, Wan-Ching Lin, Hahn-Ming Lee, Ching-Hao Mao

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As world wild internet has non-stop developments, making profit by lending registered domain names emerges as a new business in recent years. Unfortunately, the larger the market scale of domain lending service becomes, the riskier that there exist malicious behaviors or malwares hiding behind parked domains will be. Also, previous work for differentiating parked domain suffers two main defects: 1) too much data-collecting effort and CPU latency needed for features engineering and 2) ineffectiveness when detecting parked domains containing external links that are usually abused by hackers, e.g., drive-by download attack. Aiming for alleviating above defects without sacrificing practical usability, this paper proposes ParkedGuard as an efficient and accurate parked domain detector. Several scripting behavioral features were analyzed, while those with special statistical significance are adopted in ParkedGuard to make feature engineering much more cost-efficient. On the other hand, finding memberships between external links and parked domains was modeled as a graph mining problem, and a coarse-to-fine strategy was elaborately designed by leverage the graphical locality such that ParkedGuard outperforms the state-of-the-art in terms of both recall and precision rates.

Keywords: Coarse-to-fine strategy, domain parking service, graphical locality analysis, parked domain.

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Authors: Achim Kampker, Kai Kreiskoether, Johannes Wagner, Sarah Fluchs

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The growing speed of innovation in related industries requires the automotive industry to adapt and increase release frequencies of new vehicle derivatives which implies a significant reduction of investments per vehicle and ramp-up times. Emerging markets in various parts of the world augment the currently dominating established main automotive markets. Local content requirements such as import tariffs on final products impede the accessibility of these micro markets, which is why in the future market exploitation will not be driven by pure sales activities anymore but rather by setting up local assembly units. The aim of this paper is to provide an overview of the concept of decentralized assembly and to discuss and critically assess some currently researched and crucial approaches in production technology. In order to determine the scope in which complementary mobile assembly can be profitable for manufacturers, a general cost model is set up and each cost driver is assessed with respect to varying levels of decentralization. One main result of the paper is that the presented approaches offer huge cost-saving potentials and are thus critical for future production strategies. Nevertheless, they still need to be further exploited in order for decentralized assembly to be profitable for companies. The optimal level of decentralization must, however, be specifically determined in each case and cannot be defined in general.

Keywords: Automotive assembly, e-mobility, production technology, small series assembly.

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Authors: Chukiat Chaiboonsri, Satawat Wannapan

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This paper used an asymmetric informative concept to apply in the macroeconomic model estimation of the tourism sector in Thailand. The variables used to statistically analyze are Thailand international and domestic tourism revenues, the expenditures of foreign and domestic tourists, service investments by private sectors, service investments by the government of Thailand, Thailand service imports and exports, and net service income transfers. All of data is a time-series index which was observed between 2002 and 2015. Empirically, the tourism multiplier and accelerator were estimated by two statistical approaches. The first was the result of the Generalized Method of Moments model (GMM) based on the assumption which the tourism market in Thailand had perfect information (Symmetrical data). The second was the result of the Maximum Entropy Bootstrapping approach (MEboot) based on the process that attempted to deal with imperfect information and reduced uncertainty in data observations (Asymmetrical data). In addition, the tourism leakages were investigated by a simple model based on the injections and leakages concept. The empirical findings represented the parameters computed from the MEboot approach which is different from the GMM method. However, both of the MEboot estimation and GMM model suggests that Thailand’s tourism sectors are in a period capable of stimulating the economy.

Keywords: Thailand tourism, maximum entropy bootstrapping approach, macroeconomic model, asymmetric information.

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Authors: Mohammed Gamil Montasser, Angelo Battaglia

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Tourism is making its presence felt across the Sultanate of Oman. The story is one of the most recognized phenomena as a sustainable solid growth and is considered a remarkable outcome for any destination. The competitive situation and challenges within the tourism industry worldwide entail a better understanding of the destination position and its image to achieve Oman’s aspiration to retain its international reputation as one of the most desirable destinations in the Middle East. To access general perceptions of Oman’s attributes, their importance and their influences among U.S. tourists, an online survey was conducted with 522 American travelers who have traveled internationally, including non-visitors, virtual-visitors and visitors to Oman. This research involved a total of 36 attributes in the survey. Participants were asked to rate their agreement on how each attribute represented Oman and how important each attribute was for selecting destinations on 5- point Likert Scale. They also indicated if each attribute has a positive, neutral or negative influence on their destination selection. Descriptive statistics and importance performance analysis (IPA) were conducted. IPA illustrated U.S. tourists’ perceptions of Oman’s destination attributes and their importance in destination selection on a matrix with four quadrants, divided by actual mean value in each grid for importance (M=3.51) and performance (M=3.57). Oman tourism organizations and destination managers may use these research findings for future marketing and management efforts toward the U.S. travel market.

Keywords: Analysis of importance and performance, destination attributes, Oman’s position, U.S. tourists.

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Authors: Titus Amodu Umoru

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Global economy today is full of sophistication. All over the world, business and marketing practices are undergoing unprecedented transformation. In realization of this fact, the federal government of Nigeria has put in place a robust transformation agenda in order to put Nigeria in a better position to be a competitive player and in the process transform all sectors of its economy. New technologies, especially the Internet, are the driving force behind this transformation. However, technology has inadvertently affected the way businesses are done thus necessitating the acquisition of new skills. In developing countries like Nigeria, citizens are still battling with effective application of those technologies. Obviously, students of business education need to acquire relevant business knowledge to be able to transit into the world of work on graduation from school and compete favorably in the labor market. Therefore, effective utilization of social media by both teachers and students can help extensively in empowering students with the needed skills. Social media which is a group of Internet-based applications built on the ideological foundations of Web 2.0, that allow the creation and exchange of user generated content, and if incorporated into the classroom experience may be the needed answer to unemployment and poverty in Nigeria as beneficiaries can easily connect with existing and potential enterprises and customers, engage with them and reinforce mutual business benefits. Challenges and benefits of social media use in education in Nigeria universities were revealed in this study.

Keywords: Challenges, opportunities, utilization, social media, business education.

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Authors: Natalia Polkanova, Sergey Kazakov

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In the second decade of the XXI century the role of tourism destination attractiveness is becoming increasingly important for destination management. Competition in tourism market moves from ordinary service quality to provision of unforgettable emotional experience for tourists. The main purpose of the present study is to identify the perception of the tourism destinations based on the number of factors related to its tourist attractiveness. The content analysis method was used to analyze the on-line tourist feedback data immensely available in Social Media and in travel related sites. The collected data made it possible to procure the information which is necessary to understand the perceived attractiveness of the destinations and key destination appeal factors that are important for Russian leisure travelers. Results of the present study demonstrate key attractiveness factors or destination ‘properties’ that were unveiled as the most important for Russian leisure tourists. The study targeted five main Spanish tourism destinations that initially were determined by in-depth interview with a number of Russian nationals who had visited Spain at least once. The research results can be useful for Spanish Tourism Organization Representation office in Russia as well as for the other national tourism organizations in order to promote their respective destinations for Russian travelers focusing on main attractiveness factors identified in this study.

Keywords: Tourism destination, destination attractiveness, destination competitiveness, content analysis, unstructured image.

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Authors: Mesbaholdin Salami, Farzad Movahedi Sobhani, Mohammad Sadegh Ghazizadeh

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Evaluation of organizational performance is among the most important measures that help organizations and entities continuously improve their efficiency. Organizations can use the existing data and results from the comparison of units under investigation to obtain an estimation of their performance. The Malmquist Productivity Index (MPI) is an important index in the evaluation of overall productivity, which considers technological developments and technical efficiency at the same time. This article proposed a model based on the multistage MPI, considering limited data (Grey’s theory). This model can evaluate the performance of units using limited and uncertain data in a multistage process. It was applied by the electricity market manager to Iran’s electric power supply chain (EPSC), which contains uncertain data, to evaluate the performance of its actors. Results from solving the model showed an improvement in the accuracy of future performance of the units under investigation, using the Grey’s system theory. This model can be used in all case studies, in which MPI is used and there are limited or uncertain data.

Keywords: Malmquist Index, Grey's Theory, Charnes Cooper & Rhodes (CCR) Model, network data envelopment analysis, Iran electricity power chain.

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Authors: T. Nagata, S. Xaphakdy, P. Souvannavong, P. Chanthamaly, K. Sithavong, C. H. Lee, S. Phommathat, V. Srithilat, P. Sengdala, B. Phetarnousone, B. Siharath, X. Chemcheng, T. Yamaguchi, A. Suenaga, S. Kashima

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National University of Laos (NUOL) requested Japan International Cooperation Agency (JICA) volunteers to begin a physics experiments class using multi media. However, there are issues. NUOL had no physics experiment class, no space for physics experiments, experiment materials were not used for many years and were scattered in various places, and there is no projector and laptop computer in the unit. This raised the question: How do authors begin the physics experiments class using multimedia? To solve this problem, the JICA took some steps, took stock of what was available and reviewed the syllabus. The JICA then revised the experiment materials to assess what was available and then developed textbooks for experiments using them; however, the question remained, what about the multimedia component of the course? Next, the JICA reviewed Physics teacher Pavy Souvannavong’s YouTube channel, where he and his students upload video reports of their physics classes at NUOL using their smartphones. While they use multi-media, almost all the videos recorded were of class presentations. To improve the multimedia style, authors edited the videos in the style of another YouTube channel, “Science for Lao,” which is a science education group made up of Japan Overseas Cooperation Volunteers (JOCV) in Laos. They created the channel to enhance science education in Laos, and hold regular monthly meetings in the capital, Vientiane, and at teacher training colleges in the country. They edit the video clips in three parts, which are the materials and procedures part including pictures, practice footage of the experiment part, and then the result and conclusion part. Then students perform experiments and prepare for presentation by following the videos. The revised experiment presentation reports use PowerPoint presentations, material pictures and experiment video clips. As for providing textbooks and submitting reports, the students use the e-Learning system of “Moodle” of the Information Technology Center in Dongdok campus of NUOL. The Korean International Cooperation Agency (KOICA) donated those facilities. The authors have passed the process of the revised materials, developed textbooks, the PowerPoint slides presented by students, downloaded textbooks and uploaded reports, to begin the physics experiments class using multimedia. This is the practice research report for beginning a physics experiments class using multimedia in the physics unit at the Department of Natural Science, Faculty of Education, at the NUOL.

Keywords: NUOL, JICA, KOICA, Physics experiment materials, smart phone, Moodle, IT center, Science for Lao.

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Authors: Abdullah I. Alkraiji, Thomas W. Jackson, Ian R. Murray

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The proliferation of health data standards today is somewhat overlapping and conflicting, resulting in market confusion and leading to increasing proprietary interests. The government role and support in standardization for health data are thought to be crucial in order to establish credible standards for the next decade, to maximize interoperability across the health sector, and to decrease the risks associated with the implementation of non-standard systems. The normative literature missed out the exploration of the different steps required to be undertaken by the government towards the development of national health data standards. Based on the lessons learned from a qualitative study investigating the different issues to the adoption of health data standards in the major tertiary hospitals in Saudi Arabia and the opinions and feedback from different experts in the areas of data exchange and standards and medical informatics in Saudi Arabia and UK, a list of steps required towards the development of national health data standards was constructed. Main steps are the existence of: a national formal reference for health data standards, an agreed national strategic direction for medical data exchange, a national medical information management plan and a national accreditation body, and more important is the change management at the national and organizational level. The outcome of this study can be used by academics and practitioners to develop the planning of health data standards, and in particular those in developing countries.

Keywords: Interoperability, Case Study, Health Data Standards, Medical Data Exchange, Saudi Arabia.

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Authors: Robin Lok-Wang

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The purpose of this paper is to investigate how engineering students’ motivation and interests are maintained through a project-based course in their lifelong learning journeys. In recent years, different pedagogies of teaching including entrepreneurship, experiential and lifelong learnings as well as dream builder, etc., have been widely used for education purpose. University advocates hands-on practice, learning by experiencing and experimenting throughout different courses. Students are not limited to gain knowledge via traditional lectures, laboratory demonstration, tutorial and so on. The capabilities to identify both complex problems and its corresponding solutions in daily lives are one of the criteria/skill sets required for graduates to obtain their careers at professional organizations and companies. A project-based course, namely Mechatronic Design and Prototyping, was developed for students to design and build a physical prototype for solving existing problems in their daily lives, thereby encouraging them as an entrepreneur to explore further possibilities to commercialize their designed prototypes and launch it to the market. Feedbacks from students show that they are keen to propose their own ideas freely with guidance from instructor instead of using either suggested or assigned topics. Proposed ideas of the prototypes reflect that if students’ interests are maintained, they acquire the knowledges and skills they need, including essential communication, logical thinking and more importantly problem solving for their lifelong learning journey.

Keywords: Problem solving, lifelong learning, entrepreneurship, mechanical engineering.

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Authors: L. C. Moreira, M. Kauffman

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This paper outlines the results of an experimental research on deploying an emerging augmented reality (AR) system for real-time task assistance (or work instructions) of highly customised and high-risk manual operations. The focus is on human operators’ training effectiveness and performance and the aim is to test if such technologies can support enhancing the knowledge retention levels and accuracy of task execution to improve health and safety (H&S). An AR enhanced assembly method is proposed and experimentally tested using a real industrial process as case study for electric vehicles’ (EV) battery module assembly. The experimental results revealed that the proposed method improved the training practices and performance through increases in the knowledge retention levels from 40% to 84%, and accuracy of task execution from 20% to 71%, when compared to the traditional paper-based method. The results of this research validate and demonstrate how emerging technologies are advancing the choice for manual, hybrid or fully automated processes by promoting the XR-assisted processes, and the connected worker (a vision for Industry 4 and 5.0), and supporting manufacturing become more resilient in times of constant market changes.

Keywords: Augmented reality, extended reality, connected worker, XR-assisted operator, manual assembly 4.0, industry 5.0, smart training, battery assembly.

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Authors: Kubra Sayin, Derya Arslan

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Red pepper (Capsicum annum L.) has long been recognized as a good source of antioxidants, being rich in ascorbic acid and other phytochemicals. In Turkish cuisine red pepper is sometimes consumed raw in salads and baked as a garnish, but its most wide consumption type is red pepper paste. The processing of red pepper into pepper paste includes various thermal treatment steps such as heating and pasteurizing. There are reports demonstrating an enhancement or reduction in antioxidant activity of vegetables after thermal treatment. So this study was conducted to investigate the total phenolic, ascorbic acid and total carotenoids as well as free radical scavenging activity of raw red pepper and various red pepper pastes obtainable on the market. The samples were analyzed for radical-scavenging activity (RSA) and total polyphenol (TP) content using 1,1-diphenyl-2-picrylhydrazyl (DPPH) and Folin-Ciocalteu methods, respectively. Total carotenoids and ascorbic acid contents were determined spectrophotometrically. Results suggest that hot pepper paste contained significantly (P<0.05) higher concentrations of TP than sweet pepper paste. However there is no significant (P>0.05) difference in RSA, ascorbic acid and total carotenoids content between sweet and hot red pepper paste products. It is concluded that the red pepper paste, that has a wide range of consumption in Turkish cuisine, presents a good dose of phenolic compounds and antioxidant capacity and it should be regarded as a functional food.

Keywords: Antioxidant properties, Red pepper paste, Total carotenoids, Total phenolic content.

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