Search results for: financial management

Authors: Anchana Sooksomchitra

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This study aims to explore and compare the current condition of community radio stations in Phutthamonthon district, Nakhon Pathom province, Thailand, as well as the challenges they are facing. Qualitative research tools including in-depth interviews; documentary analysis; focus group interviews; and observation, are used to examine the content, programming, and management structure of three community radio stations currently in operation within the district. Research findings indicate that the management and operational approaches adopted by the two non-profit stations included in the study, Salaya Pattana and Voice of Dhamma, are more structured and effective than that of the for-profit Tune Radio. Salaya Pattana – backed by the Faculty of Engineering, Mahidol University, and the charity-funded Voice of Dhamma, are comparatively free from political and commercial influence, and able to provide more relevant and consistent community-oriented content to meet the real demand of the audience. Tune Radio, on the other hand, has to rely solely on financial support from political factions and business groups, which heavily influence its content.

Keywords: Radio broadcasting, programming, management, community radio, Thailand.

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Authors: A. Das, L. Hitihamillage, S. Moridpour

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Natural disasters are inevitable to the biodiversity. Disasters such as flood, tsunami and tornadoes could be brutal, harsh and devastating. In Australia, flooding is a major issue experienced by different parts of the country. In such crisis, delays in evacuation could decide the life and death of the people living in those regions. Congestion management could become a mammoth task if there are no steps taken before such situations. In the past to manage congestion in such circumstances, many strategies were utilised such as converting the road shoulders to extra lanes or changing the road geometry by adding more lanes. However, expansion of road to resolving congestion problems is not considered a viable option nowadays. The authorities avoid this option due to many reasons, such as lack of financial support and land space. They tend to focus their attention on optimising the current resources they possess and use traffic signals to overcome congestion problems. Traffic Signal Management strategy was considered a viable option, to alleviate congestion problems in the City of Geelong, Victoria. Arterial road with signalised intersections considered in this paper and the traffic data required for modelling collected from VicRoads. Traffic signalling software SIDRA used to model the roads, and the information gathered from VicRoads. In this paper, various signal parameters utilised to assess and improve the corridor performance to achieve the best possible Level of Services (LOS) for the arterial road.

Keywords: Congestion, constraints, management, LOS.

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Authors: Qiang Fu, Md. Abu Saleh

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Research studies are highly fragmented when an Innovation Management Framework is being discussed. With the aim to identify an Innovation Management Framework/Assessment Tool suitable for Small & Medium Enterprises (SMEs) in the service industry, this researcher critically reviewed existing innovation management frameworks and assessment models/tools and discovered a number of literature gaps. It is established that the existing literature lacks generally agreed innovation management dimensions, commonly accepted knowledge creation through empirical studies on innovation management in SMEs, effective innovation management performance measurements, suitable innovation management framework in SMEs, and studies on innovation management in the service industry, in particular in retail SMEs. As such, there is a dire need to develop an appropriate firm-level innovation management framework suitable for SMEs in the service industry for future research projects and further studies. In addition, this researcher also discussed the significance of establishing such an innovation management framework.

Keywords: innovation management, innovation management framework, innovation management assessment tools, SMEs, service industry

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Authors: Birol Yildiz, Abdullah Yalama, Metin Coskun

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Many studies have shown that Artificial Neural Networks (ANN) have been widely used for forecasting financial markets, because of many financial and economic variables are nonlinear, and an ANN can model flexible linear or non-linear relationship among variables. The purpose of the study was to employ an ANN models to predict the direction of the Istanbul Stock Exchange National 100 Indices (ISE National-100). As a result of this study, the model forecast the direction of the ISE National-100 to an accuracy of 74, 51%.

Keywords: Artificial Neural Networks, Istanbul StockExchange, Non-linear Modeling.

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Authors: S. Banerjee

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The paper describes design of an ontology in the financial domain for mutual funds. The design of this ontology consists of four steps, namely, specification, knowledge acquisition, implementation and semantic query. Specification includes a description of the taxonomy and different types mutual funds and their scope. Knowledge acquisition involves the information extraction from heterogeneous resources. Implementation describes the conceptualization and encoding of this data. Finally, semantic query permits complex queries to integrated data, mapping of these database entities to ontological concepts.

Keywords: Ontology, Semantic Web, Mutual Funds.

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Authors: Fauziah Hanim Tafri, Zarinah Hamid, Ahamed Kameel Mydin Meera, Mohd Azmi Omar

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This paper examines the relationship between financial risks and profitability of the conventional and Islamic banks in Malaysia for the period between 1996 and 2005. The measures of profitability that have been used in the study are the return on equity (ROE) and return on assets (ROA) while the financial risks are credit risk, interest rate risk and liquidity risks. This study employs panel data regression analysis of Generalised Least Squares of fixed effects and random effects models. It was found that credit risk has a significant impact on ROA and ROE for the conventional as well as the Islamic banks. The relationship between interest rate risk and ROE were found to be weakly significant for the conventional banks and insignificant for the Islamic banks. The effect of interest rate risk on ROA is significant for the conventional banks. Liquidity risk was found to have an insignificant impact on both profitability measures.

Keywords: Credit risk, interest rate risk, liquidity risk, market risk, profitability.

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Authors: Ruhaya Atan, Saunah Zainon, Roland Yeow Theng Nam, Sharifah Aliman

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This study examines the relevance of disclosure practices in improving the accountability and transparency of religious nonprofit organizations (RNPOs). The assessment of disclosure is based on the annual returns of RNPOs for the financial year 2010. In order to quantify the information disclosed in the annual returns, partial disclosure indexes of basic information (BI) disclosure index, financial information (FI) disclosure index and governance information (GI) disclosure index have been built which takes into account the content of information items in the annual returns. The empirical evidence obtained revealed low disclosure practices among RNPOs in the sample. The multiple regression results showed that the organizational attribute of the board size appeared to be the most significant predictor for both partial index on the extent of BI disclosure index, and FI disclosure index. On the other hand, the extent of financial information disclosure is related to the amount of donation received by RNPOs. On GI disclosure index, the existence of an external audit appeared to be significant variable. This study has contributed to the academic literature in providing empirical evidence of the disclosure practices among RNPOs.

Keywords: disclosure, index, partial, NPOs, religious

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Authors: Chin Wen Cheong

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This study employs a bivariate asymmetric GARCH model to reveal the hidden dynamics price changes and volatility among the emerging markets of Thailand and Malaysian after the Asian financial crisis from January 2001 to December 2008. Our results indicated that the equity markets are sharing the common information (shock) that transmitted among each others. These empirical findings are used to demonstrate the importance of shock and volatility dynamic transmissions in the cross-market hedging and market risk.

Keywords: multivariate ARCH, structural change, value at risk.

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Authors: Jin hui Kim, Hyung kwan Cho, Ji won Moon, Hoon Chang

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The purpose of this study is comparing and analysing of the financial characteristics for development methods of the urban development project in the established area, focusing on the multi-level replotting. Analysis showed that the type of the lowest expenditure was 'combination type of group-land and multi-level replotting' and the type of the highest profitability was 'multi-level replotting type'. But 'multi-level replotting type' has still risk of amount of cost for the additional architecture. In addition, we subdivided standard amount for liquidation of replotting and analysed income-expenditure flow. Analysis showed that both of 'multi-level replotting type' and 'combination type of group-land and multi-level replotting' improved profitability of project and property change ratio. However, when the standard was under a certain amount, amount of original property for the replotting was increased exponentially, and profitability of project.

Keywords: Urban development, multi-level replotting, financial characteristics, expropriation type, combination type, urban meteorology.

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Authors: Jana Chvalkovska, Petr Jansky, Petr Teply

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The impact assessment in its various forms has recently become a very important part of policy-making and legislation in many different countries. Regulatory impact assessment (RIA) is yet another set of analytical methods deployed in the legislation of the European Union, of many developed countries as well as in many developing ones such as Mexico, Malaysia and Philippines. The aim of this paper is to provide a theoretical background for economic models in regulatory impact assessment and an overview of their application especially on the financial market in the Czech Republic. We found out an inadequate application of these models, what makes room for further research in this field.

Keywords: regulatory impact assessment, RIA, impact evaluation, building societies, Czech Republic

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Authors: Sunday E. Ogundipe, Rafiu O. Salawu, Lawrencia O. Ogundipe

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The study examines the determinants of corporate cash holding of non-financial quoted firms in Nigeria using a sample of fifty four non-financial quoted firms listed on the Nigeria Stock Exchange for the period 1995-2009. Data were sourced from the Annual reports of the sampled firms and analyzed using Generalized Method of Moments(GMM). The study finds evidence supportive of a target adjustment model and that firms can not instantaneously adjust towards the target cash level owing to the fact that adjustment cost being costly,. Also, the result shows significant negative relationship between cash holdings and firm size, net working capital, return on asset and bank relationship and positive relationship with growth opportunities, leverage, inventories, account receivables and financial distress. Furthermore, there is no significant relationship between cash holdings and cash flow. In Nigerian setting, most of the variables that are relevant for explaining cash holdings in the Developed countries are found by this study to be relevant also in Nigeria.

Keywords: Adjustment Model , Cash holding, Determinant, Generalized Method of Moments(GMM)

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Authors: S. Brahmi, S. Aitouche, M. D. Mouss

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Every modern company should measure the value of its intellectual capital and to report to complement the traditional annual balance sheets. The purpose of this work is to measure the intellectual capital in an Algerian company (or production system) using the Weightless Wealth Tool Kit (WWTK). The results of the measurement of intellectual capital are supplemented by traditional financial ratios. The measurement was applied to the National Company of Wells Services (ENSP) in Hassi Messaoud city, in the south of Algeria. We calculated the intellectual capital (intangible resources) of the ENSP to help the organization to better capitalize on its potential of workers and their know-how. The intangible value of the ENSP is evaluated at 16,936,173,345 DA in 2015.

Keywords: Financial valuation, intangible capital, intellectual capital, intellectual capital measurement.

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Authors: Claudiu Brandas

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Several recent studies have shown that the transparency of financial reporting have a significant influence on investor-s decisions. Thus, regulation authorities and professional organizations (IFAC) have emphasized the role of XBRL (eXtensible Business Reporting Language) and interactive data as a means of promoting transparency and monitoring corporate reporting. In this context, this paper has as objective the analysis of interactive reporting through XBRL and its use as a support in the process of taking decisions in corporate governance, namely the potential of interactive reports in XBRL to increase the transparency and monitoring process of corporate governance.

Keywords: Corporate Governance, decision, financial reporting, transparency, XBRL.

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Authors: Abimbola O. Aniki, Esther T. Akinlabi

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This paper proposes an effective maintenance method by considering the implementation of the Computerized Maintenance Management System (CMMS) software to plan a maintenance activity in a manufacturing industry. Globally, maintenance is a very important activity in the manufacturing sector to prolong the life span of equipment and machinery; it is also applicable to all household items. It is obvious and well known that apart from giving long life to equipment, it reduces the substantial financial losses for repairs and save the production downtime. In some cases, appropriate maintenance of plant equipment and machinery reduces the tendencies of injuries to personnel in the job floor. But before the maintenance process can be carried out, proper and effective work order planning and scheduling must be in place in other to achieve the set goals and objectives of a maintenance shop. Brief reviews of common planning tools which include the Computerized Maintenance Management System (CMMS) are presented. An interesting outline of analyses on planning and scheduling for effective job planning in a typical manufacturing industry using the CMMS is also presented and discussed. Finally, the steps to adhere to in making job planning effective in a manufacturing industry are also highlighted.

Keywords: Advanced Downtime Analysis Programme (ADAP), Computerized Maintenance Management System (CMMS), Corrective Maintenance (CM), Executing Department (ED), Maintenance Department (MD), Preventive Maintenance (PM).

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Authors: Wanda Luen-Wun Siu, Xiaowen Zhang

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This paper offered the primary methodical proof on how Corporate Social Responsibility (CSR) reporting related to enterprise earnings in listed firms in China in light of most evidence focusing on cross-sectional data or data in a short span of time. Using full economic and business panel data on China’s publicly listed enterprises from 2006 to 2020 over two decades in the China Stock Market & Accounting Research database, we found initial evidence of significant direct relations between CSR reporting and firm corporate performance in both state-owned and privately-owned firms over this period, supporting the stakeholder theory. Results also revealed that state-owned enterprises performed as well as private enterprises in the current period. But private enterprises performed better than state-owned enterprises in the subsequent years. Moreover, the release of social responsibility reports had the more significant impact on the financial performance of state-owned and private enterprises in the current period than in the subsequent periods. Specifically, CSR release was not significantly associated to the financial performance of state-owned enterprises on the lag of the first, second, and third periods. But it had an impact on the lag of the first, second, and third periods among private enterprises. Such findings suggested that CSR reporting helped improve the corporate financial performance of state-owned and private enterprises in the current period, but this kind of effect was more significant among private enterprises in the lag periods.

Keywords: China’s Listed Firm, CSR reporting, financial performance, panel analysis.

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Authors: Yacine Challal, Hamida Seba

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Group key management is an important functional building block for any secure multicast architecture. Thereby, it has been extensively studied in the literature. In this paper we present relevant group key management protocols. Then, we compare them against some pertinent performance criteria.

Keywords: Multicast, Security, Group Key Management.

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Authors: Meet Shah, Ankita Aditya, Dhruv Bindra, V. S. Omkar, Aashruti Seervi

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In today's world, we need documents everywhere for a smooth workflow in the identification process or any other security aspects. The current system and techniques which are used for identification need one thing, that is ‘proof of existence’, which involves valid documents, for example, educational, financial, etc. The main issue with the current identity access management system and digital identification process is that the system is centralized in their network, which makes it inefficient. The paper presents the system which resolves all these cited issues. It is based on ‘blockchain’ technology, which is a 'decentralized system'. It allows transactions in a decentralized and immutable manner. The primary notion of the model is to ‘have everything with nothing’. It involves inter-linking required documents of a person with a single identity card so that a person can go anywhere without having the required documents with him/her. The person just needs to be physically present at a place wherein documents are necessary, and using a fingerprint impression and an iris scan print, the rest of the verification will progress. Furthermore, some technical overheads and advancements are listed. This paper also aims to layout its far-vision scenario of blockchain and its impact on future trends.

Keywords: Blockchain, decentralized system, fingerprint impression, identity management, iris scan.

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Authors: Jan Sindelar

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The paper presents an applied study of a multivariate AR(p) process fitted to daily data from U.S. commodity futures markets with the use of Bayesian statistics. In the first part a detailed description of the methods used is given. In the second part two BVAR models are chosen one with assumption of lognormal, the second with normal distribution of prices conditioned on the parameters. For a comparison two simple benchmark models are chosen that are commonly used in todays Financial Mathematics. The article compares the quality of predictions of all the models, tries to find an adequate rate of forgetting of information and questions the validity of Efficient Market Hypothesis in the semi-strong form.

Keywords: Vector auto-regression, forecasting, financial, Bayesian, efficient markets.

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Authors: Levan Sabauri

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Audit is an independent inspection of the financial statement of the audited person and expresses the opinion of an auditor on the reliability of this statement. The auditor’s activity (auditor’s service) is realized by auditing organizations, individual auditors in connection to conduction of an audit and rendering of audit accompanying services. The profession of auditor means a high level of responsibility for rendered service. Results of decisions made by information users depend on the quality of the auditor’s conclusion. Owners, investors, creditors, and society rely on the opinion of the auditor under the condition that inspection was conducted with good quality. Therefore, the existence of the well-functioning audit quality control system for the administering of the audit is an important issue. An efficient audit quality control system is a substantial challenge that many countries face worldwide, especially those states where these systems are being formed within the respective reform program. The presented article reflects on the best practices of the leading countries, the assumptions and recommendations for the financial accounting, reporting and audit; current reforms in Georgia are made based on this comparative analysis.

Keywords: Audit quality control, audit program, financial statement, perspective analysis.

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Authors: Yacine Challal, Abdelmadjid Bouabdallah, Hamida Seba

Abstract:

Group key management is an important functional building block for any secure multicast architecture. Thereby, it has been extensively studied in the literature. In this paper we present relevant group key management protocols. Then, we compare them against some pertinent performance criteria.

Keywords: Multicast, Security, Group Key Management.

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Authors: Rodrigo Barreiros Leal, Aracéli Cristina de Sousa Ferreira

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This study examines the possibility to apply the theory of multidimensional accounting (momentum accounting) in a Brazilian Navy-s Services Provider Military Organization (Organização Militar Prestadora de Serviços - OMPS). In general, the core of the said theory is the fact that Accounting does not recognize the inertia of transactions occurring in an entity, and that occur repeatedly in some cases, regardless of the implementation of new actions by its managers. The study evaluates the possibility of greater use of information recorded in the financial statements of the unit of analysis, within the strategic decisions of the organization. As a research strategy, we adopted the case study. The results infer that it is possible to use the theory in the context of a multidimensional OMPS, promoting useful information for decision-making and thereby contributing to the strengthening of the necessary alignment of its administration with the current desires of the Brazilian society.

Keywords: Multidimensional Accounting, Public Management, Decision Making.

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Authors: Eakarat Boonreang

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The past two decades, Thailand faced the natural disasters, for instance, Gay typhoon in 1989, tsunami in 2004, and huge flood in 2011. The disaster management in Thailand was improved both structure and mechanism for cope with the natural disaster since 2007. However, the natural disaster management in Thailand has various problems, for examples, cooperation between related an organizations have not unity, inadequate resources, the natural disaster management of public sectors not proactive, people has not awareness the risk of the natural disaster, and communities did not participate in the natural disaster management. Objective of this study is to find the methods for capacity building in the natural disaster management of Thailand. The concept and information about the capacity building and the natural disaster management of Thailand were reviewed and analyzed by classifying and organizing data. The result found that the methods for capacity building in the natural disaster management of Thailand should be consist of 1) link operation and information in the natural disaster management between nation, province, local and community levels, 2) enhance competency and resources of public sectors which relate to the natural disaster management, 3) establish proactive natural disaster management both planning and implementation, 4) decentralize the natural disaster management to local government organizations, 5) construct public awareness in the natural disaster management to community, 6) support Community Based Disaster Risk Management (CBDRM) seriously, and 7) emphasis on participation in the natural disaster management of all stakeholders.

Keywords: Capacity Building, Community Based Disaster Risk Management, Natural Disaster Management, Thailand.

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Authors: Raif Parlakkaya, Huseyin Cetin, Halil Akmese, Mesut Murat Adabali

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As the economies of other countries in the Mediterranean Basin, the tourism sector in our country has a high denominator in economics. Tourism businesses, which are building blocks of tourism, sector faces with a variety of problems during their activities. These problems faced make business efficiency and competition conditions of the businesses difficult. Most of the problems faced by the tourism businesses and the information of consumers about consumers’ rights were used in this study, which is conducted to determine the problems of tourism businesses in the Central Anatolia Region. It is aimed to contribute the awareness of staff and executives working at tourism sector and to attract attention of businesses active concurrently with tourism sector and legislators.

Keywords: Financial Problems, The problems of Tourism businesses, Tourism Businesses, Tourism Sector in Turkey.

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Authors: Hossein Amoozad Khalili, Anahita Maleki

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Normally business changes are made in order to change a level of activity in some way, whether it is sales, cash flow, productivity, or product portfolio. When attempts are made to make such changes, too often the business reverts to the old levels of activity as soon as management attention is diverted. Risk management is a field of growing interest to project managers as well as in general business and organizational management. There are several approaches used to manage risk in projects and this paper is a brief outline of some that you might encounter, with an indication of their strengths and weaknesses.

Keywords: Risk Management, Project Management, Scheduling, Planning

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Authors: Naveed Ghani, Samreen Javed

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In today’s heterogeneous network environment, there is a growing demand for distrust clients to jointly execute secure network to prevent from malicious attacks as the defining task of propagating malicious code is to locate new targets to attack. Residual risk is always there no matter what solutions are implemented or whet so ever security methodology or standards being adapted. Security is the first and crucial phase in the field of Computer Science. The main aim of the Computer Security is gathering of information with secure network. No one need wonder what all that malware is trying to do: It's trying to steal money through data theft, bank transfers, stolen passwords, or swiped identities. From there, with the help of our survey we learn about the importance of white listing, antimalware programs, security patches, log files, honey pots, and more used in banks for financial data protection but there’s also a need of implementing the IPV6 tunneling with Crypto data transformation according to the requirements of new technology to prevent the organization from new Malware attacks and crafting of its own messages and sending them to the target. In this paper the writer has given the idea of implementing IPV6 Tunneling Secessions on private data transmission from financial organizations whose secrecy needed to be safeguarded.

Keywords: Network worms, malware infection propagating malicious code, virus, security, VPN.

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Authors: Nedjima Mouhoubi, Souad Sassi Boudemagh

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In this article, and through the modernization project of metropolis of Constantine (PMMC) experience in Algeria, discussed to highlight the importance of management in an urban project at various levels: strategic and operational. The statement we attended to reach is to evaluate the modernization project of metropolis of Constantine in the light of management and prove the relation between a good urban management and the success of an urban project.

Keywords: Urban project, strategic management, operational management, the modernization project of Constantine.

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Authors: Peter Yang

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Green incentives are included in the “American Recovery and Reinvestment Act of 2009" (ARRA). It is, however, unclear how these government incentives can be carried out most effectively according to market-based principles and if they can serve as a catalyst for an accelerated green transformation and an ultimate solution to the current U.S. and global economic and financial crisis. The article will compare the existing U.S. green economic policies with those in Germany, identify problems, and suggest improvements to allow the green stimulus incentives to achieve the best results in the process of an accelerated green transformation. The author argues that the current U.S. green stimulus incentives can only be most successful if they are carried out as part of a visionary, comprehensive, long-term, and consistent strategy of the green economic transformation.

Keywords: Green incentives, financial crisis, green economy, renewable energy sources, energy efficiency.

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Authors: Heejung Lee

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Performance management seems to be essential in business area and is also an exciting topic. Despite significant and myriads of research efforts, performance management guide today as a rigorous approach is still in an immature state and metrics are often selected based on intuitive and heuristic approach. In R&D side, the difficulty to guide the proper performance management is even more increasing due to the natural characteristics of R&D such as unique or domain-specific problems. In our approach, we present R&D performance management guide considering various characteristics of R&D side: performance evaluation objectives, dimensions, metrics, and uncertainties of R&D sector.

Keywords: Performance management, R&D, metrics.

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Authors: Carlos Sanchís-Pedregosa, María del Mar González-Zamora, José A. D. Machuca

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Logistics outsourcing is a growing trend and measuring its performance, a challenge. It must be consistent with the objectives set for logistics outsourcing, but we have found no objective-based performance measurement system. We have conducted a comprehensive review of the specialist literature to cover this gap, which has led us to identify and define these objectives. The outcome is that we have obtained a list of the most relevant objectives and their descriptions. This will enable us to analyse in a future study whether the indicators used for measuring logistics outsourcing performance are consistent with the objectives pursued with the outsourcing. If this is not the case, a proposal will be made for a set of financial and operational indicators to measure performance in logistics outsourcing that take the goals being pursued into account.

Keywords: Outsourcing, Performance measurement, Logistics, Objectives, Indicators

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Authors: Korbi Fakhri

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In this article, we have elaborated a study over the nature of financial intermediation in Islamic banks by comparison to those of conventional ones. We have found a striking difference between two kinds of intermediation. We tried, from another side, to study the relationship between the capital level and deficiency risk relying on econometric model, and we have obtained a positive and significant relation between the capital and the deficiency risk for the conventional banks. This means that when the capital of these banks increases, the deficiency risk increases as well. In return, since the Islamic banks are constrained to respect the Sharia Committee as well as customers’ demands that may, in certain contracts, choose to invest their capitals in projects they are interested in. These constraints have as effects to reduce the deficiency risk even when the capital increases.

Keywords: Conventional bank, deficiency risk, financial intermediation, Islamic bank.

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