Search results for: empirical studies

Authors: Joanna Stawska

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The main objective of this article is to examine the impact of interest rates on investments in Poland in the context of financial crisis. The paper also investigates the dependence of bank loans to enterprises on interbank market rates. The article studies the impact of interbank market rate on the level of investments in Poland. Besides, this article focuses on the research of the correlation between the level of corporate loans and the amount of investments in Poland in order to determine the indirect impact of central bank interest rates through the transmission mechanism of monetary policy on the real economy. To achieve the objective we have used econometric and statistical research methods like: econometric model and Pearson correlation coefficient. This analysis suggests that the central bank reference rate inversely proportionally affects the level of investments in Poland and this dependence is moderate. This is also important issue because it is related to preparing of Poland to accession to euro area. The research is important from both theoretical and empirical points of view. The formulated conclusions and recommendations determine the practical significance of the paper which may be used in the decision making process of monetary and economic authorities of the country.

Keywords: Central bank, financial crisis, interest rate, investments.

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Authors: Jamaliah Mohd. Yusof, Rosidah Musa, Sofiah Abd. Rahman

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With previous studies that examined the importance of functional store image and CSR, this study is aimed at examining their effects in the self-congruity model in influencing store loyalty. In particular, this study developed and tested a structural model in the context of retailing industry on the self-congruity theory. Whilst much of the self-congruity studies have incorporated functional store image, there has been lack of studies that examined social responsibility image of retail stores in the self-congruity studies. Findings indicate that self-congruity influence on store loyalty was mediated by both functional store image and social responsibility image. In influencing store loyalty, the findings have shown that social responsibility image has a stronger influence on store loyalty than functional store image. This study offers important findings and implications for future research as it presents a new framework on the importance of social responsibility image.

Keywords: Self-congruity, functional store image, social responsibility image, store loyalty

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Authors: V. Hadavi, J. Zamani, R. Hosseini

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The special and unique advantages of explosive forming, has developed its use in different industries. Considering the important influence of improving the current explosive forming techniques on increasing the efficiency and control over the explosive forming procedure, the effects of air and water as the energy-conveying medium, and also their differences will be illustrated in this paper. Hence, a large number of explosive forming tests have been conducted on two sizes of thin walled cylindrical shells by using air and water as the working medium. Comparative diagrams of the maximum radial deflection of work-pieces of the same size, as a function of the scaled distance, show that for the points with the same values of scaled distance, the maximum radial deformation caused by the under water explosive loading is 4 to 5 times more than the deflection of the shells under explosive forming, while using air. Results of this experimental research have also been compared with other studies which show that using water as the energy conveying media increases the efficiency up to 4.8 times. The effect of the media on failure modes of the shells, and the necking mechanism of the walls of the specimens, while being explosively loaded, are also discussed in this issue. Measuring the tested specimens shows that, the increase in the internal volume has been accompanied by necking of the walls, which finally results in the radial rupture of the structure.

Keywords: Explosive Forming, Energy Conveying Medium, Tubular Shell

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Authors: Somchai Supattarakul, Anya Khanthavit

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This study aims at providing empirical evidence on a comparison of two equity valuation models: (1) the dividend discount model (DDM) and (2) the residual income model (RIM), in estimating equity values of Thai firms during 1995-2004. Results suggest that DDM and RIM underestimate equity values of Thai firms and that RIM outperforms DDM in predicting cross-sectional stock prices. Results on regression of cross-sectional stock prices on the decomposed DDM and RIM equity values indicate that book value of equity provides the greatest incremental explanatory power, relative to other components in DDM and RIM terminal values, suggesting that book value distortions resulting from accounting procedures and choices are less severe than forecast and measurement errors in discount rates and growth rates. We also document that the incremental explanatory power of book value of equity during 1998-2004, representing the information environment under Thai Accounting Standards reformed after the 1997 economic crisis to conform to International Accounting Standards, is significantly greater than that during 1995-1996, representing the information environment under the pre-reformed Thai Accounting Standards. This implies that the book value distortions are less severe under the 1997 Reformed Thai Accounting Standards than the pre-reformed Thai Accounting Standards.

Keywords: Dividend Discount Model, Equity Valuation Model, Residual Income Model, Thai Stock Market

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Authors: Murat Ayyıldız, Oya Kalıpsız, Sırma Yavuz

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Software project effort estimation is frequently seen as complex and expensive for individual software engineers. Software production is in a crisis. It suffers from excessive costs. Software production is often out of control. It has been suggested that software production is out of control because we do not measure. You cannot control what you cannot measure. During last decade, a number of researches on cost estimation have been conducted. The metric-set selection has a vital role in software cost estimation studies; its importance has been ignored especially in neural network based studies. In this study we have explored the reasons of those disappointing results and implemented different neural network models using augmented new metrics. The results obtained are compared with previous studies using traditional metrics. To be able to make comparisons, two types of data have been used. The first part of the data is taken from the Constructive Cost Model (COCOMO'81) which is commonly used in previous studies and the second part is collected according to new metrics in a leading international company in Turkey. The accuracy of the selected metrics and the data samples are verified using statistical techniques. The model presented here is based on Multi-Layer Perceptron (MLP). Another difficulty associated with the cost estimation studies is the fact that the data collection requires time and care. To make a more thorough use of the samples collected, k-fold, cross validation method is also implemented. It is concluded that, as long as an accurate and quantifiable set of metrics are defined and measured correctly, neural networks can be applied in software cost estimation studies with success

Keywords: Software Metrics, Software Cost Estimation, Neural Network.

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Authors: Rhoann Kerh, Chen-Fu Chien, Kuo-Yi Lin

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In the era of rapidly increasing notebook market, consumer electronics manufacturers are facing a highly dynamic and competitive environment. In particular, the product appearance is the first part for user to distinguish the product from the product of other brands. Notebook product should differ in its appearance to engage users and contribute to the user experience (UX). The UX evaluates various product concepts to find the design for user needs; in addition, help the designer to further understand the product appearance preference of different market segment. However, few studies have been done for exploring the relationship between consumer background and the reaction of product appearance. This study aims to propose a data mining framework to capture the user’s information and the important relation between product appearance factors. The proposed framework consists of problem definition and structuring, data preparation, rules generation, and results evaluation and interpretation. An empirical study has been done in Taiwan that recruited 168 subjects from different background to experience the appearance performance of 11 different portable computers. The results assist the designers to develop product strategies based on the characteristics of consumers and the product concept that related to the UX, which help to launch the products to the right customers and increase the market shares. The results have shown the practical feasibility of the proposed framework.

Keywords: Consumers Decision Making, Product Design, Rough Set Theory, User Experience.

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Authors: Farhad Asadi, Hossein Sadati

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In fields such as neuroscience and especially in cognition modeling of mental processes, uncertainty processing in temporal zone of signal is vital. In this paper, Bayesian online inferences in estimation of change-points location in signal are constructed. This method separated the observed signal into independent series and studies the change and variation of the regime of data locally with related statistical characteristics. We give conditions on simulations of the method when the data characteristics of signals vary, and provide empirical evidence to show the performance of method. It is verified that correlation between series around the change point location and its characteristics such as Signal to Noise Ratios and mean value of signal has important factor on fluctuating in finding proper location of change point. And one of the main contributions of this study is related to representing of these influences of signal statistical characteristics for finding abrupt variation in signal. There are two different structures for simulations which in first case one abrupt change in temporal section of signal is considered with variable position and secondly multiple variations are considered. Finally, influence of statistical characteristic for changing the location of change point is explained in details in simulation results with different artificial signals.

Keywords: Time series, fluctuation in statistical characteristics, optimal learning.

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Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim

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A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.

Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic.

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Authors: Ankush Agrawal, Nadia Bhuiyan

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The new product development (NPD) literature emphasizes the importance of introducing new products on the market for continuing business success. New products are responsible for employment, economic growth, technological progress, and high standards of living. Therefore, the study of NPD and the processes through which they emerge is important. The goal of our research is to propose a framework of critical success factors, metrics, and tools and techniques for implementing metrics for each stage of the new product development (NPD) process. An extensive literature review was undertaken to investigate decades of studies on NPD success and how it can be achieved. These studies were scanned for common factors for firms that enjoyed success of new products on the market. The paper summarizes NPD success factors, suggests metrics that should be used to measure these factors, and proposes tools and techniques to make use of these metrics. This was done for each stage of the NPD process, and brought together in a framework that the authors propose should be followed for complex NPD projects. While many studies have been conducted on critical success factors for NPD, these studies tend to be fragmented and focus on one or a few phases of the NPD process. 

Keywords: New product development, performance, critical success factors, framework.

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

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

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

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Authors: Reza Gharehkhani

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Sedimentation in reservoirs lowers the quality of consumed water, reduce the volume of reservoir, lowers the controllable amount of flood, increases the risk of water overflow during possible floods and the risk of reversal and reduction of dam's useful life. So in all stages of dam establishment such as cognitive studies, phase-1 studies of design, control, construction and maintenance, the problem of sedimentation in reservoir should be considered. What engineers need to do is examine and develop the methods to keep effective capacity of a reservoir, however engineers should also consider the influences of the methods on the flood disaster, functions of water use facilities and environmental issues.This article first examines the sedimentation in reservoirs and shows how to control it and then discusses the studies about the sedimens in Siazakh Dam.

Keywords: Sedimentation, Reservoir, Sediment Control, Dam

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Authors: Chinnaiah Madduri, Raghu V. Prakash

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This paper presents the results of corrosion fatigue crack growth behaviour of a Ni-Cr-Mn steel commonly used in marine applications. The effect of mechanical variables such as frequency and load ratio on fatigue crack growth rate at various stages has been studied using compact tension (C(T)) specimens along the rolling direction of steel plate under 3.5% saturated NaCl aqueous environment. The significance of crack closure on corrosion fatigue, and the validity of Elber-s empirical linear crack closure model with the ASTM compliance offset method have been examined. Fatigue crack growth rate is higher and threshold stress intensities are lower in aqueous environment compared to the lab air conditions. It is also observed that the crack growth rate increases at lower frequencies. The higher stress ratio promotes the crack growth. The effect of oxidization and corrosion pit formation is very less as the stress ratio is increased. It is observed that as stress ratios are increased, the Elber-s crack closure model agrees well with the crack closure estimated by the ASTM compliance offset method for tests conducted at 5Hz frequency compared to tests conducted at 1Hz in corrosive environment.

Keywords: Corrosion fatigue, oxide induced crack closure, Elber's crack closure, ASTM compliance offset method.

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Authors: Md. Athar Imtiaz, Abduljalil S. Al-Mudhary, Md. Taha Mirhashemi, Roslina Ibrahim

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Information Technology (IT) is being used by almost all organizations throughout the world. However its success at supporting and improving business is debatable. There is always the risk of IT project failure and studies have proven that a large number of IT projects indeed do fail. There are many components that further the success of IT projects; these have been studied in previous studies. Studies have found the most necessary components for success in software development projects, executive information systems etc. In this study previous literatures that have looked into these success promoting factors have been critically reviewed and analyzed. 15 Critical Success Factors (CSF) of IT projects were enlisted and examined. These factors can be applied to all IT projects and is not specific to a particular type of IT/IS project. A hypothesis was also generated after the evaluation of the factors.

Keywords: Critical Success Factors, CSF, IT Projects, IS Projects, Software Development Projects.

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Authors: Jeffrey Chang, Barun Dasgupta

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E-business technologies, whereby business transactions are conducted remotely using the Internet, present unique opportunities and challenges for business. E-business technologies are applicable to a wide range of organizations and small and medium-sized enterprises (SMEs) are no exception. There is an established body of literature about e-business, looking at definitions, concepts, benefits and challenges. In general, however, the research focus has been on larger organizations, not SMEs. In an attempt to redress the balance of research, this paper looks at ebusiness technologies specifically from a small business perspective. It seeks to identify the possible barriers that SMEs might face when considering adoption of the e-business concept and practice as part of their business process change initiatives and implementation. To facilitate analysis of these barriers a conceptual framework has been developed which outlines the key conceptual and practical challenges of e-business implementation in SMEs. This is developed following a literature survey comprised of three categories: characteristics of SMEs, issues of IS/IT use in SMEs and general e-business adoption and implementation issues. The framework is then empirically assessed against 7 SMEs who have yet to implement e-business or whose e-business efforts have been unsatisfactory. Conclusions from the case studies can be used to verify the framework, and set parameters for further larger scale empirical investigation.

Keywords: Business process change, disruptive technologies, electronic business (e-Business), electronic commerce (e-Commerce), ICT adoption, small and medium-sized enterprises (SMEs).

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Authors: Ahmed Barakat, Nourhan A. Saad, Mahmoud Hammad

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Tracking and monitoring agricultural products, cold chain activities, and transportation in real-time can effectively ensure both the quality and safety of agricultural products, as well as reduce overall logistics costs. Effective supply chain practices are one of the main requirements for enhancing agricultural business in Egypt. Cold chain is among the best practices for the storage and transportation of perishable goods and has potential within the agricultural sector in Egypt. This practice has the scope of reducing the wastage of food and increasing the profitability with a reduction in costs. Even though it has several implementation challenges for the farmers, traders, and people involved in the entire supply chain, it has highlighted better benefits for all and for the export of goods for the economic progression for Egypt. The aim of this paper is to explore cold supply chain practices for the agriculture sector in Egypt, to enhance the export performance of fresh goods. In this context, this study attempts to explore those aspects of the performance of cold supply chain practices that can enhance the functioning of the agriculture sector in Egypt from the perspective of export companies (traders) and farmers. Based on the empirical results obtained by data collection from the farmers and traders, the study argues that there is a significant association between cold supply chain practices and enhancement of the agriculture value chain. The paper thus highlights the contribution of the study with final conclusions and limitations with scope for future research.

Keywords: Agriculture sector, cold chain management, export companies, non-traded goods, supply chain management.

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Authors: A. Djafer, S. Kouadri Moustefai, A. Idou, M. Douani

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The removal of chromium by living yeast biomass immobilized onto pozzolana was studied. The results obtained in batch experiments indicate that the immobilized yeast on to pozzolana is a excellent biosorbent of Cr(V) with a good removal rates of 85–90%. The initial concentration solution and agitation speed affected Cr(V) removal. The batch studies data were described using the Freundlich and Langmuir models, but the best fit was obtained with Langmuir model. The breakthrough curve from the continuous flow studies shows that immobilized yeast in the fixed-bed column is capable of decreasing Cr(VI) concentration from 15mg/l to a adequate level. 

Keywords: Biosorption, yeast, chromium, kinetic biosorption, fixed biomass

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Authors: Adam Gorine, Faten Spondon

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Python is considered the most popular programming language and offers its own ecosystem for archiving and maintaining open-source software packages. This system is called the Python Package Index (PyPI), the repository of this programming language. Unfortunately, one-third of these software packages have vulnerabilities that allow attackers to execute code automatically when a vulnerable or malicious package is installed. This paper contributes to large-scale empirical studies investigating security issues in the Python ecosystem by evaluating package vulnerabilities. These provide a series of implications that can help the security of software ecosystems by improving the process of discovering, fixing, and managing package vulnerabilities. The vulnerable dataset is generated using the NVD, the National Vulnerability Database, and the Snyk vulnerability dataset. In addition, we evaluated 807 vulnerability reports in the NVD and 3900 publicly known security vulnerabilities in Python Package Manager (Pip) from the Snyk database from 2002 to 2022. As a result, many Python vulnerabilities appear in high severity, followed by medium severity. The most problematic areas have been improper input validation and denial of service attacks. A hybrid scanning tool that combines the three scanners, Bandit, Snyk and Dlint, which provide a clear report of the code vulnerability, is also described.

Keywords: Python vulnerabilities, Bandit, Snyk, Dlint, Python Package Index, ecosystem, static analysis, malicious attacks.

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Authors: Bello Ali

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The use of Information and Communication Technology (ICT) in tertiary institutions by lecturers and students has become a necessity for the enhancement of quality teaching and learning. This study examined availability, accessibility and utilization of ICT in Teaching-Learning Islamic Studies in Colleges of Education, North-East, Nigeria. The study adopted multi-stage sampling technique, in which, five out of the eleven Colleges of Education (both Federal and State owned) were purposively selected for the study. Primary data was drawn from the respondents by the use of questionnaire, interviews and observations. The results of the study, generally, indicate that the availability and accessibility to ICT facilities in Colleges of Education in North-East, Nigeria, especially in teaching/learning delivery of Islamic studies were relatively inadequate and rare to lecturers and students. The study further reveals that the respondents’ level of utilization of ICT is low and only few computer packages and internet services were involved in the ICT utilization, which is yet to reach the real expected situation of the globalization and advancement in the application of ICT if compared to other parts of the world, as far as the teaching and learning of Islamic studies is concerned. Observations and conclusion were drawn from the findings and finally, recommendations on how to improve on ICT availability, accessibility and utilization in teaching/ learning were suggested.

Keywords: Accessibility, availability, college of education, ICT, Islamic Studies, learning, North-Eastern, teaching, utilization.

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Authors: Samson T. Obafemi, Seraphin D. Eyono Obono

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Information and Communication Technologies (ICTs) are pervasive nowadays, including in education where they are expected to improve the performance of learners. However, the hope placed in ICTs to find viable solutions to the problem of poor academic performance in schools in the developing world has not yet yielded the expected benefits. This problem serves as a motivation to this study whose aim is to examine the perceptions of educators on the advantages and disadvantages of e-learning. This aim will be subdivided into two types of research objectives. Objectives on the identification and design of theories and models will be achieved using content analysis and literature review. However, the objective on the empirical testing of such theories and models will be achieved through the survey of educators from different schools in the Pinetown District of the South African Kwazulu-Natal province. SPSS is used to quantitatively analyse the data collected by the questionnaire of this survey using descriptive statistics and Pearson correlations after assessing the validity and the reliability of the data. The main hypothesis driving this study is that there is a relationship between the demographics of educators’ and their adherence to learning theories on one side, and their perceptions on the advantages and disadvantages of e-learning on the other side, as argued by existing research; but this research views these learning theories under three perspectives: educators’ adherence to self-regulated learning, to constructivism, and to progressivism. This hypothesis was fully confirmed by the empirical study except for the demographic factor where teachers’ level of education was found to be the only demographic factor affecting the perceptions of educators on the advantages and disadvantages of e-learning.

Keywords: Academic performance, e-learning, Learning theories, Teaching and Learning.

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Authors: S. J. Matlan, M. Mukhlisin, M. R. Taha

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Characterization of the engineering behavior of unsaturated soil is dependent on the soil-water characteristic curve (SWCC), a graphical representation of the relationship between water content or degree of saturation and soil suction. A reasonable description of the SWCC is thus important for the accurate prediction of unsaturated soil parameters. The measurement procedures for determining the SWCC, however, are difficult, expensive, and timeconsuming. During the past few decades, researchers have laid a major focus on developing empirical equations for predicting the SWCC, with a large number of empirical models suggested. One of the most crucial questions is how precisely existing equations can represent the SWCC. As different models have different ranges of capability, it is essential to evaluate the precision of the SWCC models used for each particular soil type for better SWCC estimation. It is expected that better estimation of SWCC would be achieved via a thorough statistical analysis of its distribution within a particular soil class. With this in view, a statistical analysis was conducted in order to evaluate the reliability of the SWCC prediction models against laboratory measurement. Optimization techniques were used to obtain the best-fit of the model parameters in four forms of SWCC equation, using laboratory data for relatively coarse-textured (i.e., sandy) soil. The four most prominent SWCCs were evaluated and computed for each sample. The result shows that the Brooks and Corey model is the most consistent in describing the SWCC for sand soil type. The Brooks and Corey model prediction also exhibit compatibility with samples ranging from low to high soil water content in which subjected to the samples that evaluated in this study.

Keywords: Soil-water characteristic curve (SWCC), statistical analysis, unsaturated soil.

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Authors: Paul N. Napari, Patrick B. Cobbinah

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The 21^st century has been characterized by rapid urbanization with its associated environmental sanitation challenges especially in developing countries. However, studies have focused largely on institutional capacity and the resources needed to manage environmental sanitation challenges, with few insights on the attitudes of city residents. This paper analyzes the environmental sanitation situation in a rapidly urbanizing Tamale metropolis, examines how city residents’ attitudes have contributed to poor environmental sanitation and further reviews approaches that have been employed to manage environmental sanitation. Using secondary and empirical data sources, the paper reveals that only 7.5 tons of 150 tons of total daily solid wastes generated is effectively managed. The findings suggest that the poor sanitation in the city is influenced by two factors; poor attitudes of city residents and weak institutions. While poor attitudes towards environmental sanitation has resulted in indiscriminate disposal of waste, weak institutions have resulted in lack of capacity and pragmatic interventions to manage the environmental sanitation challenges in the city. The paper recommends public education on environmental sanitation, public private partnership, increased stakeholder engagement and preparation and implementation of environmental sanitation plan as mechanisms to ensure effective environmental sanitation management in the Tamale metropolis.

Keywords: Environmental sanitation, developing countries, waste management, developing countries, Tamale, urbanization.

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Authors: W. Triampo, D. Baowan, I.M. Tang, N. Nuttavut, J. Wong-Ekkabut, G. Doungchawee

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In this work, we consider a deterministic model for the transmission of leptospirosis which is currently spreading in the Thai population. The SIR model which incorporates the features of this disease is applied to the epidemiological data in Thailand. It is seen that the numerical solutions of the SIR equations are in good agreement with real empirical data. Further improvements are discussed.

Keywords: Leptospirosis, SIR Model, Deterministic model, Thailand.

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Authors: Z. Ulukan, E. Demircioğlu

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Facility location is a complex real-world problem which needs a strategic management decision. This paper provides a general review on studies, efforts and developments in Facility Location Problems which are classical optimization problems having a wide-spread applications in various areas such as transportation, distribution, production, supply chain decisions and telecommunication. Our goal is not to review all variants of different studies in FLPs or to describe very detailed computational techniques and solution approaches, but rather to provide a broad overview of major location problems that have been studied, indicating how they are formulated and what are proposed by researchers to tackle the problem. A brief, elucidative table based on a grouping according to “General Problem Type” and “Methods Proposed” used in the studies is also presented at the end of the work.

Keywords: Discrete location problems, exact methods, heuristic algorithms, single source capacitated facility location problems.

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Authors: Khan Farhan Rafat, Riaz Ahmed

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Renowned offshore organizations are drifting towards collaborative exertion to win and implement international projects for business gains. However, devoid of financial constraints, with the availability of skilled professionals, and despite improved project management practices through state-of-the-art tools and techniques, project delays have become a norm these days. This situation calls for exploring the factor(s) affecting the bonding between project management performance and project success. In the context of the well-known 3M’s of project management (that is, manpower, machinery, and materials), machinery and materials are dependent upon manpower. Because the body of knowledge inveterate on the influence of national culture on men, hence, the realization of the impact on the link between project management performance and project success need to be investigated in detail to arrive at the possible cause(s) of project delays. This research initiative was, therefore, undertaken to fill the research gap. The unit of analysis for the proposed research excretion was the individuals who had worked on skyscraper construction projects. In reverent studies, project management is best described using construction examples. It is due to this reason that the project oriented city of Dubai was chosen to reconnoiter on causes of project delays. A structured questionnaire survey was disseminated online with the courtesy of the Project Management Institute local chapter to carry out the cross-sectional study. The Construction Industry Institute, Austin, of the United States of America along with 23 high-rise builders in Dubai were also contacted by email requesting for their contribution to the study and providing them with the online link to the survey questionnaire. The reliability of the instrument was warranted using Cronbach’s alpha coefficient of 0.70. The appropriateness of sampling adequacy and homogeneity in variance was ensured by keeping Kaiser–Meyer–Olkin (KMO) and Bartlett’s test of sphericity in the range ≥ 0.60 and < 0.05, respectively. Factor analysis was used to verify construct validity. During exploratory factor analysis, all items were loaded using a threshold of 0.4. Four hundred and seventeen respondents, including members from top management, project managers, and project staff, contributed to the study. The link between project management performance and project success was significant at 0.01 level (2-tailed), and 0.05 level (2-tailed) for Pearson’s correlation. Before initiating the moderator analysis test for linearity, multicollinearity, outliers, leverage points and influential cases, test for homoscedasticity and normality were carried out which are prerequisites for conducting moderator review. The moderator analysis, using a macro named PROCESS, was performed to verify the hypothesis that national culture has an influence on the said link. The empirical findings, when compared with Hofstede's results, showed high power distance as the cause of construction project delays in Dubai. The research outcome calls for the project sponsors and top management to reshape their project management strategy and allow for low power distance between management and project personnel for timely completion of projects.

Keywords: Causes of construction project delays, construction industry, construction management, power distance.

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Authors: Shorena Pharjiani

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Present empirical paper investigates the relationship between FDI and economic growth by 10 selected industries in 10 Central and Eastern European countries from the period 1995 to 2012. Different estimation approaches were used to explore the connection between FDI and economic growth, for example OLS, RE, FE with and without time dummies. Obtained empirical results leads to some main consequences: First, the Central and East European countries (CEEC) attracted foreign direct investment, which raised the productivity of industries they entered in. It should be concluded that the linkage between FDI and output growth by industries is positive and significant enough to suggest that foreign firm’s participation enhanced the productivity of the industries they occupied. There had been an endogeneity problem in the regression and fixed effects estimation approach was used which partially corrected the regression analysis in order to make the results less biased. Second, it should be stressed that the results show that time has an important role in making FDI operational for enhancing output growth by industries via total factor productivity. Third, R&D positively affected economic growth and at the same time, it should take some time for research and development to influence economic growth. Fourth, the general trends masked crucial differences at the country level: over the last 20 years, the analysis of the tables and figures at the country level show that the main recipients of FDI of the 11 Central and Eastern European countries were Hungary, Poland and the Czech Republic. The main reason was that these countries had more open door policies for attracting the FDI. Fifth, according to the graphical analysis, while Hungary had the highest FDI inflow in this region, it was not reflected in the GDP growth as much as in other Central and Eastern European countries.

Keywords: Central and East European countries (CEEC), economic growth, FDI, panel data.

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Authors: Rabia Korkmaz Tan, Şebnem Bora

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The major problem encountered when modeling complex systems with agent-based modeling and simulation techniques is the existence of large parameter spaces. A complex system model cannot be expected to reflect the whole of the real system, but by specifying the most appropriate parameters, the actual system can be represented by the model under certain conditions. When the studies conducted in recent years were reviewed, it has been observed that there are few studies for parameter tuning problem in agent based simulations, and these studies have focused on tuning parameters of a single model. In this study, an approach of parameter tuning is proposed by using metaheuristic algorithms such as Genetic Algorithm (GA), Particle Swarm Optimization (PSO), Artificial Bee Colonies (ABC), Firefly (FA) algorithms. With this hybrid structured study, the parameter tuning problems of the models in the different fields were solved. The new approach offered was tested in two different models, and its achievements in different problems were compared. The simulations and the results reveal that this proposed study is better than the existing parameter tuning studies.

Keywords: Parameter tuning, agent based modeling and simulation, metaheuristic algorithms, complex systems.

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Authors: Munazza A. Mirza, Khawar Khurshid

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Individuals are generally associated with different learning styles, which have been explored extensively in recent past. The learning styles refer to the potential of an individual by which s/he can easily comprehend and retain information. Among various learning style models, VARK is the most accepted model which categorizes the learners with respect to their sensory characteristics. Based on the number of preferred learning modes, the learners can be categorized as uni-modal, bi-modal, tri-modal, or quad/multi-modal. Although there is a prevalent belief in the learning styles, however, the model is not being frequently and effectively utilized in the higher education. This research describes the identification model to validate teacher’s didactic practice and student’s performance linkage with the learning styles. The identification model is recommended to check the effective application and evaluation of the various learning styles. The proposed model is a guideline to effectively implement learning styles inventory in order to ensure that it will validate performance linkage with learning styles. If performance is linked with learning styles, this may help eradicate the distrust on learning style theory. For this purpose, a comprehensive study was conducted to compare and understand how VARK inventory model is being used to identify learning preferences and their correlation with learner’s performance. A comparative analysis of the findings of these studies is presented to understand the learning styles of tertiary students in various disciplines. It is concluded with confidence that the learning styles of students cannot be associated with any specific discipline. Furthermore, there is not enough empirical proof to link performance with learning styles.

Keywords: Learning style, VARK, sensory preferences, identification model, didactic practices.

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Authors: Sang Ho Lee, Tae Heon Moon, Youn Taik Leem, Kwang Woo Nam

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Knowledge and IT inputs to other industrial production have become more important as a key factor for the competitiveness of national and regional economies, such as knowledge economies in smart cities. Knowledge and IT industries lead the industrial innovation and technical (r)evolution through low cost, high efficiency in production, and by creating a new value chain and new production path chains, which is referred as knowledge and IT dynamics. This study aims to investigate the knowledge and IT dynamics in Korea, which are analyzed through the input-output model and structural path analysis. Twenty-eight industries were reclassified into seven categories; Agriculture and Mining, IT manufacture, Non-IT manufacture, Construction, IT-service, Knowledge service, Non-knowledge service to take close look at the knowledge and IT dynamics. Knowledge and IT dynamics were analyzed through the change of input output coefficient and multiplier indices in terms of technical innovation, as well as the changes of the structural paths of the knowledge and IT to other industries in terms of new production value creation from 1985 and 2010. The structural paths of knowledge and IT explain not only that IT foster the generation, circulation and use of knowledge through IT industries and IT-based service, but also that knowledge encourages IT use through creating, sharing and managing knowledge. As a result, this paper found the empirical investigation on the knowledge and IT dynamics of the Korean economy. Knowledge and IT has played an important role regarding the inter-industrial transactional input for production, as well as new industrial creation. The birth of the input-output production path has mostly originated from the knowledge and IT industries, while the death of the input-output production path took place in the traditional industries from 1985 and 2010. The Korean economy has been in transition to a knowledge economy in the Smart City.

Keywords: Knowledge and IT industries, input-output model, structural path analysis, dynamics of knowledge and IT, knowledge economy, knowledge city, smart city.

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Authors: Nadeem Ehsan, Ebtisam Mirza, Muhammad Ahmad

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In a complex project environment, project teams face multi-dimensional communication problems that can ultimately lead to project breakdown. Team Performance varies in Face-to-Face (FTF) environment versus groups working remotely in a computermediated communication (CMC) environment. A brief review of the Input_Process_Output model suggested by James E. Driskell, Paul H. Radtke and Eduardo Salas in “Virtual Teams: Effects of Technological Mediation on Team Performance (2003)", has been done to develop the basis of this research. This model theoretically analyzes the effects of technological mediation on team processes, such as, cohesiveness, status and authority relations, counternormative behavior and communication. An empirical study described in this paper has been undertaken to test the “cohesiveness" of diverse project teams in a multi-national organization. This study uses both quantitative and qualitative techniques for data gathering and analysis. These techniques include interviews, questionnaires for data collection and graphical data representation for analyzing the collected data. Computer-mediated technology may impact team performance because of difference in cohesiveness among teams and this difference may be moderated by factors, such as, the type of communication environment, the type of task and the temporal context of the team. Based on the reviewed model, sets of hypotheses are devised and tested. This research, reports on a study that compared team cohesiveness among virtual teams using CMC and non-CMC communication mediums. The findings suggest that CMC can help virtual teams increase team cohesiveness among their members, making CMC an effective medium for increasing productivity and team performance.

Keywords: Computer-mediated Communication, Virtual Teams, Team Performance, Team Cohesiveness.

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Authors: Martina Kanciruk, Jac W. Andrews, Tyrone Donnon

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The purpose of this study was to determine the significance of maternal smoking for the development of childhood overweight and/or obesity. Accordingly, a systematic literature review of English-language studies published from 1980 to 2012 using the following data bases: MEDLINE, PsychINFO, Cochrane Database of Systematic Reviews, and Dissertation Abstracts International was conducted. The following terms were used in the search: pregnancy, overweight, obesity, smoking, parents, childhood, risk factors. Eighteen studies of maternal smoking during pregnancy and obesity conducted in Europe, Asia, North America, and South America met the inclusion criteria. A meta-analysis of these studies indicated that maternal smoking during pregnancy is a significant risk factor for overweight and obesity; mothers who smoke during pregnancy are at a greater risk for developing obesity or overweight; the quantity of cigarettes consumed by the mother during pregnancy influenced the odds of offspring overweight and/or obesity. In addition, the results from moderator analyses suggest that part of the heterogeneity discovered between the studies can be explained by the region of world that the study occurred in and the age of the child at the time of weight assessment.

Keywords: Childhood obesity, overweight, smoking, parents, risk factors.

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