Search results for: financial system’s development

Authors: Kristýna Pokorná, Petr Teplý

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This paper focuses on sovereign credit risk meaning a hot topic related to the current Eurozone crisis. In the light of the recent financial crisis, market perception of the creditworthiness of individual sovereigns has changed significantly. Before the outbreak of the financial crisis, market participants did not differentiate between credit risk born by individual states despite different levels of public indebtedness. In the proceeding of the financial crisis, the market participants became aware of the worsening fiscal situation in the European countries and started to discriminate among government issuers. Concerns about the increasing sovereign risk were reflected in surging sovereign risk premium. The main of this paper is to shed light on the characteristics of the sovereign risk with the special attention paid to the mutual relation between credit spread and the CDS premium as the main measures of the sovereign risk premium.

Keywords: cointegration, credit default swap, credit risk, credit spread, sovereign risk

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Authors: Drago Jakovcevic, Mihovil Andelinovic, Igor Husak

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The aim of this paper is to explore the economic circumstances in which the selective credit policy, the least used instrument of four types of instruments on disposal to central banks, should be used. The most significant example includes the use of selective credit policies in response to the emergence of the global financial crisis by the FED. Specifics of the potential use of selective credit policies as the instigator of economic growth in Croatia, a small open economy, are determined by high euroization of financial system, fixed exchange rate and long-term trend growth of external debt that is related to the need to maintain high levels of foreign reserves. In such conditions, the classic forms of selective credit policies are unsuitable for the introduction. Several alternative approaches to implement selective credit policies are examined in this paper. Also, thorough analysis of distribution of selective monetary policy loans among economic sectors in Croatia is conducted in order to minimize the risk of investing funds and maximize the return, in order to influence the GDP growth.

Keywords: Global crisis, Selective credit policy, Small open economy.

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Authors: Lochan Basyal

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Global Automation is an emerging technology of today’s era and is based on Internet of Things (IoT). Global automation deals with the controlling of electrical appliances throughout the world. The fabrication of this system has been carried out with interfacing an electrical control system module to Raspberry Pi. An electrical control system module includes a relay driver mechanism through which appliances are controlled automatically in respective condition. In this research project, one email ID has been assigned to Raspberry Pi, and the users from different location having different email ID can mail to Raspberry Pi on assigned email address “[email protected]” with subject heading “Device Control” with predefined command on compose email line. Also, a notification regarding current working condition of this system has been updated on respective user email ID. This approach is an innovative way of implementing smart automation system through which a user can control their electrical appliances like light, fan, television, refrigerator, etc. in their home with the use of email facility. The development of this project helps to enhance the concept of smart home application as well as industrial automation.

Keywords: Control circuit, email, global automation, internet of things, Raspberry Pi.

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Authors: Anna Rogozińska-Pawełczyk

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A psychological contract is an agreement between the employer and an employee that covers the parties’ informal and frequently non-verbalized obligations and expectations towards each other. The contract is a cognitive pattern-governing employee’s behaviour in the organization. A gap between employee’s expectations and the organizational reality may lead to difficult-to-solve conflicts or cause the employee to modify their behaviour towards organizational values and goals, if they are willing and ready to verbalize their expectations. The article discusses psychological contracts in the financial institutions in Poland. Its theoretical part outlines the types of psychological contracts in organizations (relational, transactional, and balanced) and shows the process of their verbalization. The purpose of the article is to present how the type of the psychological contract relates to employee’s readiness to verbalize it. The article ends with conclusions arising from the study.

Keywords: Customer contact staff in banks, employee expectations, financial institutions, mutual expectations, psychological contract, verbalization of the psychological contract.

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Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris

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With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.

Keywords: Implied adjusted volatility, Financial crisis, Leland option pricing models.

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Authors: Mariam Vardiashvili

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The economic value of the asset impairment process is quite large. Impairment reflects the reduction of future economic benefits or service potentials itemized in the asset. The assets owned by public sector entities bring economic benefits or are used for delivery of the free-of-charge services. Consequently, they are classified as cash-generating and non-cash-generating assets. IPSAS 21 - Impairment of non-cash-generating assets, and IPSAS 26 - Impairment of cash-generating assets, have been designed considering this specificity.  When measuring impairment of assets, it is important to select the relevant methods. For measurement of the impaired Non-Cash-Generating Assets, IPSAS 21 recommends three methods: Depreciated Replacement Cost Approach, Restoration Cost Approach, and  Service Units Approach. Impairment of Value in Use of Cash-Generating Assets (according to IPSAS 26) is measured by discounted value of the money sources to be received in future. Value in use of the cash-generating asserts (as per IPSAS 26) is measured by the discounted value of the money sources to be received in the future. The article provides classification of the assets in the public sector  as non-cash-generating assets and cash-generating assets and, deals also with the factors which should be considered when evaluating  impairment of assets. An essence of impairment of the non-financial assets and the methods of measurement thereof evaluation are formulated according to IPSAS 21 and IPSAS 26. The main emphasis is put on different methods of measurement of the value in use of the impaired Cash-Generating Assets and Non-Cash-Generation Assets and the methods of their selection. The traditional and the expected cash flow approaches for calculation of the discounted value are reviewed. The article also discusses the issues of recognition of impairment loss and its reflection in the financial reporting. The article concludes that despite a functional purpose of the impaired asset, whichever method is used for measuring the asset, presentation of realistic information regarding the value of the assets should be ensured in the financial reporting. In the theoretical development of the issue, the methods of scientific abstraction, analysis and synthesis were used. The research was carried out with a systemic approach. The research process uses international standards of accounting, theoretical researches and publications of Georgian and foreign scientists.

Keywords: Non-cash-generating assets, cash-generating assets, recoverable value, recoverable service amount, value in use.

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Authors: Beata Czarnacka-Chrobot

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Majority of Business Software Systems (BSS) Development and Enhancement Projects (D&EP) fail to meet criteria of their effectiveness, what leads to the considerable financial losses. One of the fundamental reasons for such projects- exceptionally low success rate are improperly derived estimates for their costs and time. In the case of BSS D&EP these attributes are determined by the work effort, meanwhile reliable and objective effort estimation still appears to be a great challenge to the software engineering. Thus this paper is aimed at presenting the most important synthetic conclusions coming from the author-s own studies concerning the main factors of effective BSS D&EP work effort estimation. Thanks to the rational investment decisions made on the basis of reliable and objective criteria it is possible to reduce losses caused not only by abandoned projects but also by large scale of overrunning the time and costs of BSS D&EP execution.

Keywords: Benchmarking data, business software systems development and enhancement projects, effort estimation, software engineering economics, software functional size measurement.

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Authors: George N. Zaimes, Valasia Iakovoglou, Paschalis Koutalakis, Konstantinos Ioannou, Ioannis Kosmadakis, Panagiotis Tsardaklis, Theodoros Laopoulos

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The advancements in technology allow the development of a new system that can continuously measure surface soil erosion. Continuous soil erosion measurements are required in order to comprehend the erosional processes and propose effective and efficient conservation measures to mitigate surface erosion. Mitigating soil erosion, especially in Mediterranean countries such as Greece, is essential in order to maintain environmental and agricultural sustainability. In this paper, we present the Automated Soil Erosion Monitoring System (ASEMS) that measures surface soil erosion along with other factors that impact erosional process. Specifically, this system measures ground level changes (surface soil erosion), rainfall, air temperature, soil temperature, and soil moisture. Another important innovation is that the data will be collected by remote communication. In addition, stakeholder’s awareness is a key factor to help reduce any environmental problem. The different dissemination activities that were utilized are described. The overall outcomes were the development of a new innovative system that can measure erosion very accurately. These data from the system help study the process of erosion and find the best possible methods to reduce erosion. The dissemination activities enhance the stakeholders and public's awareness on surface soil erosion problems and will lead to the adoption of more effective soil erosion conservation practices in Greece.

Keywords: Soil management, climate change, new technologies, conservation practices.

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Authors: Abbas Moshref Razavi, Rodina Ahmad

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As a primitive assumption, if a new information system is able to remind users their old work habits, it should have a better opportunity to be accepted, adopted and finally, utilized. In this paper some theoretical concepts borrowed from psychodynamic theory e.g. ego defenses are discussed to show how such resemblance can be made without necessarily affecting the performance of the new system. The main assertion is a new system should somehow imitate old work habits, not literally, but through following their paces in terms of the order of habitual tensional states including stimulation, defensive actions and satisfactions.

Keywords: information Systems, users' habits, psychodynamic

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Authors: S. Turkan

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In this paper, the Turkey’s Top 500 Industrial Enterprises data in 2014 were analyzed by data envelopment analysis. Data envelopment analysis is used to detect efficient decision-making units such as universities, hospitals, schools etc. by using inputs and outputs. The decision-making units in this study are enterprises. To detect efficient enterprises, some financial ratios are determined as inputs and outputs. For this reason, financial indicators related to productivity of enterprises are considered. The efficient foreign weighted owned capital enterprises are detected via super efficiency model. According to the results, it is said that Mercedes-Benz is the most efficient foreign weighted owned capital enterprise in Turkey.

Keywords: Data envelopment analysis, super efficiency, financial ratios, BCC model.

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Authors: Byung-Wan Jo, Kwang-Won Yoon, Ji-Sun Choi

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Load managing method on road became necessary since overloaded vehicles occur damage on road facilities and existing systems for preventing this damage still show many problems.Accordingly, efficient managing system for preventing overloaded vehicles could be organized by using the road itself as a scale by applying genetic algorithm to analyze the load and the drive information of vehicles.Therefore, this paper organized Ubiquitous sensor network system for development of intelligent overload vehicle regulation system, also in this study, to use the behavior of road, the transformation was measured by installing underground box type indoor model and indoor experiment was held using genetic algorithm. And we examined wireless possibility of overloaded vehicle regulation system through experiment of the transmission and reception distance.If this system will apply to road and bridge, might be effective for economy and convenience through establishment of U-IT system..

Keywords: Overload Vehicle. Genetic Algorithm, EmbeddedSystem, Wim Sensor, overload vehicle regulation

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Authors: Hamid Alalwany, Nabeel A. Koshak, Mohammad K. Ibrahim

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Both knowledge economy and sustainable development are considered key dimensions in the policy action lines of many developed and developing countries. In this context, universities and other higher education institutes have a vital role in developing and sustaining wellbeing communities.

In this paper, the authors’ aim is to address the links between the concepts of innovation and entrepreneurial capacity and knowledge economy, and to utilize the approach of intellectual capital development in building a sustainable knowledge economy.

The paper will contribute to two discourses:

1. Developing a common understanding of the intersection aspects between the three concepts: Knowledge economy, Innovation and entrepreneurial system, and sustainable development.
2. Paving the road towards developing an integrated multidimensional framework for sustainable knowledge economy.

Keywords: Innovation and Entrepreneurial Capacity, Intellectual Capital Development, Sustainable Development, Sustainable Knowledge Economy.

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Authors: Andra Blumberga, Armands Gravelsins, Haralds Vigants, Dagnija Blumberga

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The paper discovers biotechonomy development analysis by use of system dynamics modelling. The research is connected with investigations of biomass application for production of bioproducts with higher added value. The most popular bioresource is wood, and therefore, the main question today is about future development and eco-design of products. The paper emphasizes and evaluates energy sector which is open for use of wood logs, wood chips, wood pellets and so on. The main aim for this research study was to build a framework to analyse development perspectives for wood pellet production. To reach the goal, a system dynamics model of energy wood supplies, processing, and consumption is built. Production capacity, energy consumption, changes in energy and technology efficiency, required labour source, prices of wood, energy and labour are taken into account. Validation and verification tests with available data and information have been carried out and indicate that the model constitutes the dynamic hypothesis. It is found that the more is invested into pellets production, the higher the specific profit per production unit compared to wood logs and wood chips. As a result, wood chips production is decreasing dramatically and is replaced by wood pellets. The limiting factor for pellet industry growth is availability of wood sources. This is governed by felling limit set by the government based on sustainable forestry principles.

Keywords: Bioenergy, biotechonomy, system dynamics modelling, wood pellets.

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Authors: Svetlana Perovic

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This paper examines the role and the place of transdisciplinarity in the urbanism of the 21st century, with the emphasis on Montenegro urbanism. Global processes require a systematic strategy and systemic synergistic engagement in the development of cities in 21st centuries. Urbanism as a profession and a discipline should be developed parallel and in correlation, based on the principles of integrality and communication skills, in order to enable development of the sustainable urban system. The importance of integrated urbanism and other disciplines are also emphasized as well as their synergies activities. The paper also presents the positive examples of urban theory and practice in the world, which influenced the direction of development of the modern urbanism. Transdisciplinarity is a priority methodology for sustainable urban development, which is insufficiently developed in Montenegro, but there is a basis for its development. It is necessary to unite different social sensibilities, academic and non-academic knowledge, as well as the public and private sectors in order to develop holistic, inclusive and sustainable urban spaces of the 21st centuries.

Keywords: Montenegro urbanism, sustainability, the 21st century, transdisciplinarity.

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Authors: Tsubasa Seto, Kentaro Nagata, Kazushige Magatani

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SEMG (Surface Electromyogram) is one of the bio-signals and is generated from the muscle. And there are many research results that use forearm EMG to detect hand motions. In this paper, we will talk about our developed the robot hand system that can control grasping power by SEMG. In our system, we suppose that muscle power is proportional to the amplitude of SEMG. The power is estimated and the grip power of a robot hand is able to be controlled using estimated muscle power in our system. In addition, to perform a more precise control can be considered to build a closed loop feedback system as an object to a subject to pressure from the edge of hand. Our objectives of this study are the development of a method that makes perfect detection of the hand grip force possible using SEMG patterns, and applying this method to the man-machine interface.

Keywords: SEMG, multi electrode, robot hand, power control

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Authors: Lixin Tian, Wei Xue

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Many jobs in society go underground, such as mine mining, tunnel construction and subways, which are vital to the development of society. Once accidents occur in these places, the interruption of traditional wired communication is not conducive to the development of rescue work. In order to realize the positioning, early warning and command functions of underground personnel and improve rescue efficiency, it is necessary to develop and design an emergency ground communication system. It is easy to be subjected to narrowband interference when performing conventional underground communication. Spreading communication can be used for this problem. However, general spread spectrum methods such as direct spread communication are inefficient, so it is proposed to use parallel combined spread spectrum (PCSS) communication to improve efficiency. The PCSS communication not only has the anti-interference ability and the good concealment of the traditional spread spectrum system, but also has a relatively high frequency band utilization rate and a strong information transmission capability. So, this technology has been widely used in practice. This paper presents a PCSS communication model-multiple detection parallel combined spread spectrum (MDPCSS) communication system. In this paper, the principle of MDPCSS communication system is described, that is, the sequence at the transmitting end is processed in blocks and cyclically shifted to facilitate multiple detection at the receiving end. The block diagrams of the transmitter and receiver of the MDPCSS communication system are introduced. At the same time, the calculation formula of the system bit error rate (BER) is introduced, and the simulation and analysis of the BER of the system are completed. By comparing with the common parallel PCSS communication, we can draw a conclusion that it is indeed possible to reduce the BER and improve the system performance. Furthermore, the influence of different pseudo-code lengths selected on the system BER is simulated and analyzed, and the conclusion is that the larger the pseudo-code length is, the smaller the system error rate is.

Keywords: Cyclic shift, multiple detection, parallel combined spread spectrum, PN code.

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Authors: Nicholas Lambert, Seungyeon Ryu, Mehmet Mulla, Albert Kim

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In this paper, an interactive in-car interface called HoloDash is presented. It is intended to provide information and infotainment in both autonomous vehicles and ‘connected cars’, vehicles equipped with Internet access via cellular services. The research focuses on the development of interactive avatars for this system and its gesture-based control system. This is a case study for the development of a possible human-centred means of presenting a connected or autonomous vehicle’s On-Board Diagnostics through a projected ‘holographic’ infotainment system. This system is termed a Holographic Human Vehicle Interface (HHIV), as it utilises a dashboard projection unit and gesture detection. The research also examines the suitability for gestures in an automotive environment, given that it might be used in both driver-controlled and driverless vehicles. Using Human Centred Design methods, questions were posed to test subjects and preferences discovered in terms of the gesture interface and the user experience for passengers within the vehicle. These affirm the benefits of this mode of visual communication for both connected and driverless cars.

Keywords: Holographic interface, human-computer interaction, user-centered design, Gesture.

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Authors: L. Chaussy, M. Nouvel

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Workload of the system engineers during Integration Validation Verification process of Electronic Warfare Systems (EWS) is growing with complexity of the systems and with the diversity of tested cases (diversity of operational scenario in front of EWS). Even if the use of Digital Twin makes easier conception and development phases in term of planning and test equipment availability, time to analyze tests results is still too long and too complex. The idea to reduce the system engineer’s workload and improve test coverage is to introduce some intelligent and aid-analysis algorithms to improve this step.

Keywords: Analysis tools, automatic testing, digital twin, electronic warfare system.

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Authors: Yan-Fang Niu

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In view of current IT integration development of SOA, this paper examines AIS design based on SOA, including information sources collection, accounting business process integration and real-time financial reports. The main objective of this exploratory paper is to facilitate AIS research combing the Web Service, which is often ignored in accounting and computer research. It provides a conceptual framework that clarifies the interdependency between SOA and AIS, and also presents the major SOA functions in different areas of AIS

Keywords: AIS, SOA, Web Service

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Authors: Taotao Deng, John D. Nelson

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Bus Rapid Transit (BRT) has emerged as a cost-effective transport system for urban mobility. However its ability to stimulate land development remains largely unexplored. The study makes use of qualitative (interview method) and quantitative analysis (questionnaire survey and longitudinal analysis of property data) to investigate land development impact resulting from BRT in Beijing, China. The empirical analysis suggests that BRT has a positive impact on the residential and commercial property attractiveness along the busway corridor. The statistical analysis suggests that accessibility advantage conferred by BRT is capitalized into higher property price. The average price of apartments adjacent to a BRT station has gained a relatively faster increase than those not served by the BRT system. The capitalization effect mostly occurs after the full operation of BRT, and is more evident over time and particularly observed in areas which previously lack alternative mobility opportunity.

Keywords: accessibility, Bus Rapid Transit (BRT), Beijing, property value uplift

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Authors: Jožef Ritonja

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The biochemical industry is one of the most important modern industries. Biochemical reactors are crucial devices of the biochemical industry. The essential bioprocess carried out in bioreactors is the fermentation process. A thorough insight into the fermentation process and the knowledge how to control it are essential for effective use of bioreactors to produce high quality and quantitatively enough products. The development of the control system starts with the determination of a mathematical model that describes the steady state and dynamic properties of the controlled plant satisfactorily, and is suitable for the development of the control system. The paper analyses the fermentation process in bioreactors thoroughly, using existing mathematical models. Most existing mathematical models do not allow the design of a control system for controlling the fermentation process in batch bioreactors. Due to this, a mathematical model was developed and presented that allows the development of a control system for batch bioreactors. Based on the developed mathematical model, a control system was designed to ensure optimal response of the biochemical quantities in the fermentation process. Due to the time-varying and non-linear nature of the controlled plant, the conventional control system with a proportional-integral-differential controller with constant parameters does not provide the desired transient response. The improved adaptive control system was proposed to improve the dynamics of the fermentation. The use of the adaptive control is suggested because the parameters’ variations of the fermentation process are very slow. The developed control system was tested to produce dairy products in the laboratory bioreactor. A carbon dioxide concentration was chosen as the controlled variable. The carbon dioxide concentration correlates well with the other, for the quality of the fermentation process in significant quantities. The level of the carbon dioxide concentration gives important information about the fermentation process. The obtained results showed that the designed control system provides minimum error between reference and actual values of carbon dioxide concentration during a transient response and in a steady state. The recommended control system makes reference signal tracking much more efficient than the currently used conventional control systems which are based on linear control theory. The proposed control system represents a very effective solution for the improvement of the milk fermentation process.

Keywords: Bioprocess engineering, biochemical reactor, fermentation process, modeling, adaptive control.

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Authors: G. T. Balakayeva, K. K. Nurlybayeva, M. B. Zhanuzakov

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In the proposed work, we have developed software and designed a software architecture for the implementation of enterprise business processes. The proposed software has a multi-level architecture using a domain-specific tool. The developed architecture is a guarantor of the availability, reliability and security of the system and the implementation of business processes, which are the basis for effective enterprise management. Automating business processes, automating the algorithmic stages of an enterprise, developing optimal algorithms for managing activities, controlling and monitoring, reducing risks and improving results help organizations achieve strategic goals quickly and efficiently. The software described in this article can connect to the corporate information system via two methods: a desktop client and a web client. With an appeal to the application server, the desktop client program connects to the information system on the company's work PCs over a local network. Outside the organization, the user can interact with the information system via a web browser, which acts as a web client and connects to a web server. The developed software consists of several integrated modules that share resources and interact with each other through an API. The following technology stack was used during development: Node js, React js, MongoDB, Ngnix, Cloud Technologies, Python.

Keywords: Algorithms, document processing, automation, integrated modules, software architecture, software design, information system.

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Authors: Irena Durdová

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Most people know through experience and intuition what the word „sport“ means. Sport includes a combination of these configurations when it involves team competitions, tournaments, or matches in dual sports or individual sports. Sport management - it is an area of professional endeavor in which a variety of sport-related managerial careers exist and it is also an area of academic professional preparation. Exists three unique aspects of sport management: sport marketing, sport enterprise financial structures and sport industry career paths. The aim of the paper was to highlight the growing importance of sport in contemporary society, especially to emphasize its socio-economic benefits and refer to the development of sport management and marketing. The article has shown that sport contributes 2-3% to gross domestic product in the Czech Republic and that the demand for experts, specialists educated for the sports manager profession is growing.

Keywords: management, sport, sport management, marketing

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Authors: Savita K.S, Hazwani H., Kalid K. S.

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This paper presents a narrative management system for organizations to capture organization's tacit knowledge through stories. The intention of capturing tacit knowledge is to address the problem that comes with the mobility of workforce in organisation. Storytelling in knowledge management context is seen as a powerful management tool to communicate tacit knowledge in organization. This narrative management system is developed firstly to enable uploading of many types of knowledge sharing stories, from general to work related-specific stories and secondly, each video has comment functionality where knowledge users can post comments to other knowledge users. The narrative management system allows the stories to browse, search and view by the users. In the system, stories are stored in a video repository. Stories that were produced from this framework will improve learning, knowledge transfer facilitation and tacit knowledge quality in an organization.

Keywords: Knowledge Management, Storytelling, Stories, Tacit Knowledge

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Authors: Pierre Kancir, Jean-Philippe Diguet, Marc Sevaux

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One of the main difficulties in developing multi-robot systems (MRS) is related to the simulation and testing tools available. Indeed, if the differences between simulations and real robots are too significant, the transition from the simulation to the robot won’t be possible without another long development phase and won’t permit to validate the simulation. Moreover, the testing of different algorithmic solutions or modifications of robots requires a strong knowledge of current tools and a significant development time. Therefore, the availability of tools for MRS, mainly with flying drones, is crucial to enable the industrial emergence of these systems. This research aims to present the most commonly used tools for MRS simulations and their main shortcomings and presents complementary tools to improve the productivity of designers in the development of multi-vehicle solutions focused on a fast learning curve and rapid transition from simulations to real usage. The proposed contributions are based on existing open source tools as Gazebo simulator combined with ROS (Robot Operating System) and the open-source multi-platform autopilot ArduPilot to bring them to a broad audience.

Keywords: ROS, ArduPilot, MRS, simulation, drones, Gazebo.

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Authors: Soe Winn, May Thwe Oo

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Business process automation is an important task in an enterprise business environment software development. The requirements of processing acceleration and automation level of enterprises are inherently different from one organization to another. We present a methodology and system for automation of business process management system architecture by multi-agent collaboration based on SOA. Design layer processes are modeled in semantic markup language for web services application. At the core of our system is considering certain types of human tasks to their further automation across over multiple platform environments. An improved abnormality processing with model for automation of BPMS architecture by multi-agent collaboration based on SOA is introduced. Validating system for efficiency of process automation, an application for educational knowledge base instance would also be described.

Keywords: Business process management system, businessprocess automation, multi-agent collaboration, Service OrientedArchitecture, extensible service application

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Authors: Catherine Equey Balzli

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Old age retirement pensions are an important concern among the Swiss but estimating one’s income after retirement is difficult due to the Swiss insurance system’s complexity. This project’s aim is to prepare for developing a digital platform that will allow individuals to plan for retirement in a simplified manner. The main objective of the platform will be to give individuals the tools to check that their savings and retirement benefits will allow them to continue the lifestyle to which they are accustomed once they are retired. The research results from qualitative (focus group) and quantitative (survey) methodologies, recommend the scope and functionalities for a digital platform to be developed. A main outcome is the need to limit the platform’s scope to old-age pension only (excluding survivors’ or disability pensions, for instance). Furthermore, an outcome regarding the functionalities is the proposition of scenarios such as early retirement, changes to income, or modifications to personal status. The development of the digital platform will be a subsequent project.

Keywords: Benefit statement, digital platform, retirement financial planning, social insurances.

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Authors: Edlira Donefski, Tina Donefski, Lorenc Ekonomi

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Edgeworth Approximation, Bootstrap and Monte Carlo Simulations have a considerable impact on the achieving certain results related to different problems taken into study. In our paper, we have treated a financial case related to the effect that have the components of a Cash-Flow of one of the most successful businesses in the world, as the financial activity, operational activity and investing activity to the cash and cash equivalents at the end of the three-months period. To have a better view of this case we have created a Vector Autoregression model, and after that we have generated the impulse responses in the terms of Asymptotic Analysis (Edgeworth Approximation), Monte Carlo Simulations and Residual Bootstrap based on the standard errors of every series created. The generated results consisted of the common tendencies for the three methods applied, that consequently verified the advantage of the three methods in the optimization of the model that contains many variants.

Keywords: Autoregression, Bootstrap, Edgeworth Expansion, Monte Carlo Method.

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Authors: Liming Chen, Baoxin Xiu, Zhaoyun Ding, Bin Liu, Xianqiang Zhu

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In the era of big data, public investors are faced with more complicated information related to investment decisions than ever before. To survive in the fierce competition, it has become increasingly urgent for investors to combine multi-source knowledge and evaluate the companies’ true value efficiently. For this, a rule-based ontology reasoning method is proposed to support steel companies’ value assessment. Considering the delay in financial disclosure and based on cost-benefit analysis, this paper introduces the supply chain enterprises financial analysis and constructs the ontology model used to value the value of steel company. In addition, domain knowledge is formally expressed with the help of Web Ontology Language (OWL) language and SWRL (Semantic Web Rule Language) rules. Finally, a case study on a steel company in China proved the effectiveness of the method we proposed.

Keywords: Financial ontology, steel company, supply chain, ontology reasoning.

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Authors: Nazleeni Samiha Haron, Anang Hudaya Muhamad Amin, Mohd Hilmi Hasan, Izzatdin Abdul Aziz, Wirdhayu Mohd Wahid

Abstract:

In any distributed systems, process scheduling plays a vital role in determining the efficiency of the system. Process scheduling algorithms are used to ensure that the components of the system would be able to maximize its utilization and able to complete all the processes assigned in a specified period of time. This paper focuses on the development of comparative simulator for distributed process scheduling algorithms. The objectives of the works that have been carried out include the development of the comparative simulator, as well as to implement a comparative study between three distributed process scheduling algorithms; senderinitiated, receiver-initiated and hybrid sender-receiver-initiated algorithms. The comparative study was done based on the Average Waiting Time (AWT) and Average Turnaround Time (ATT) of the processes involved. The simulation results show that the performance of the algorithms depends on the number of nodes in the system.

Keywords: Distributed Systems, Load Sharing, Process Scheduling, AWT and ATT

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