Search results for: financial planning
1624 Using Model to Plan of Strategic Objectives
Authors: Terezie Bartusková, Jitka Baňařová, Zuzana Kusněřová
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Importance of strategic planning is unquestionable. However, the practical implementation of a strategic plan faces too many obstacles. The aim of the article is explained the importance of strategic planning and to find how companies in Moravian-Silesian Region deal with strategic planning, and to introduce the model, which helps to set strategic goals in financial indicators area. This model should be part of the whole process of strategic planning and can be use to predict the future values of financial indicators of the company with regard to the factor, which influence these indicators.
Keywords: Planning of Potentials, Planning of Strategic Objectives, Portfolio Planning, Significant Factors, Strategic Planning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12331623 Investigating Financial Literacy among Emiratis
Authors: Ashraf Khalil, Salam Abdallah, Khalil Al-hilo, Ebere Iroadu
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Financial literacy is one of the key factors needed in making informed financial decisions. As businesses continue to be more profit driven, more financial and economic intrigues arise that continue to put individuals at the risk of spending more and more without considering the short term and long term effects. We conducted a study to assess financial literacy and financial decision making among Emiratis. Our results show that financial literacy is lacking among Emiratis. Also, almost half of respondents owe loans to other peoples and 1/5 of them have bank loans. We expect that the outcome of this research will be useful for designing educational programs and policies to promote financial planning and security among Emiratis. We also posit that deeper and more informed understanding of this problem is a precursor for developing effective financial education programs with the aim of improving financial decision- making among Emiratis.
Keywords: Financial literacy, loans, financial planning, Emiratis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19741622 Optimizing Organizational Performance: The Critical Role of Headcount Budgeting in Strategic Alignment and Financial Stability
Authors: Shobhit Mittal
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Headcount budgeting stands as a pivotal element in organizational financial management, extending beyond traditional budgeting to encompass strategic resource allocation for workforce-related expenses. This process is integral to maintaining financial stability and fostering a productive workforce, requiring a comprehensive analysis of factors such as market trends, business growth projections, and evolving workforce skill requirements. It demands a collaborative approach, primarily involving Human Resources (HR) and finance departments, to align workforce planning with an organization's financial capabilities and strategic objectives. The dynamic nature of headcount budgeting necessitates continuous monitoring and adjustment in response to economic fluctuations, business strategy shifts, technological advancements, and market dynamics. Its significance in talent management is also highlighted, aligning financial planning with talent acquisition and retention strategies to ensure a competitive edge in the market. The consequences of incorrect headcount budgeting are explored, showing how it can lead to financial strain, operational inefficiencies, and hindered strategic objectives. Examining case studies like IBM's strategic workforce rebalancing and Microsoft's shift for long-term success, the importance of aligning headcount budgeting with organizational goals is underscored. These examples illustrate that effective headcount budgeting transcends its role as a financial tool, emerging as a strategic element crucial for an organization's success. This necessitates continuous refinement and adaptation to align with evolving business goals and market conditions, highlighting its role as a key driver in organizational success and sustainability.
Keywords: Strategic planning, fiscal budget, headcount planning, resource allocation, financial management, decision-making, operational efficiency, risk management, headcount budget.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1231621 The Link between Financial and Overall Corporate Strategies
Authors: Jaroslav Pavlíček
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Company strategy expresses a basic idea of how to reach company objectives. A whole range of models of strategic management are used in practice. The concept of strategic management should fulfill some basic requirements to make it applicable for both the typical, but also more specific company environment. The financial strategy plays an important role in corporate strategy. The paper develops a methodology of strategic model implementing into the category of micro, small and medium-sized enterprises (SMEs). Furthermore, the methodology recommends procedures while solving an up-to-date worldwide task of the definition of the company strategy and its financial strategy.
Keywords: corporate strategy, financial strategy, corporate planning
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19401620 eLearning for Electric Distribution Planning Engineers
Authors: Isaias Ramirez, Jose Luis Silva, Carlos Gonzalez, Gustavo Candelaria, Jose Pepe Rasgado, Carlos Carrillo
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This paper presents the experience in an eLearning training project that is being implemented for electrical planning engineers from the national Mexican utility Comision Federal de Electricidad (CFE) Distribution. This modality is implemented and will be used in the utility for training purposes to help personnel in their daily technical activities. One important advantage of this training project is that once it is implemented and applied, financial resources will be saved by CFE Distribution Company because online training will be used in all the country; the infrastructure for the eLearning training will be uploaded in computational servers installed in the National CFE Distribution Training Department, in Ciudad de Mexico, and can be used in workplaces of 16 Distribution Divisions and 150 Zones of CFE Distribution. In this way, workers will not need to travel to the National Training Department, saving enormous efforts, financial, and human resources.
Keywords: Moodle, eLearning, corporate training, electrical planning engineer.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4461619 Village Construction under China-s Rapid Urbanization: The Role and Strategy of Planning in the Rural Areas
Authors: Chen Zhang, Jiwu Wang
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With China's urbanization continuing to accelerate, a amount of rural people flood into China's cities in recent years, and the issue of agriculture, rural areas and farmers is getting more and more serious. In 2005, the Chinese government put forward a plan for “the construction of new rural village", in order to coordinate the development of both urban and rural areas. The planning method of rural region differs sharply from that of urban areas, as same as village social structure and habits of farmer-s life, so the studies which can consider the special needs of village construction in China are absolutely essential. This paper expresses explore current situation and problems existing in the construction of China-s new rural village, such as bigger gap between urban and rural areas, excessive new construction projects, extinct traditional village style and so on. It tries to analyze the deep reason of the present situation of the village from law system, industrial structure, financial sources and planning method. Then it also provides a guide for developing policies and procedures promoting the development of china-s rural areas.
Keywords: Rural areas, village construction, physical planning, law system, financial sources, Public participation, China.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19941618 Financial Literacy of Students of Finance: An Empirical Study from the Czech Republic
Authors: Barbora Chmelíková
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Financial literacy is a widely discussed topic on the national and international level by governments, organizations and academia. For this reason, this study analyses financial knowledge, financial behavior, and financial attitudes of students of finance. The aim of the paper is to determine whether the financial literacy of university students studying finance differs from the level of financial literacy in selected OECD countries. The research was conducted at Masaryk University in the Czech Republic. The empirical study comprises questions related to several aspects of financial literacy, such as financial knowledge, personal finance behavior, or decisionmaking. The results indicate that improvement in financial literacy of university students is still required, even though their major is finance related.Keywords: Financial literacy, financial behavior, personal finance management, university students.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23791617 Are XBRL-based Financial Reports Better than Non-XBRL Reports? A Quality Assessment
Authors: Zhenkun Wang, Simon S. Gao
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Using a scoring system, this paper provides a comparative assessment of the quality of data between XBRL formatted financial reports and non-XBRL financial reports. It shows a major improvement in the quality of data of XBRL formatted financial reports. Although XBRL formatted financial reports do not show much advantage in the quality at the beginning, XBRL financial reports lately display a large improvement in the quality of data in almost all aspects. With the improved XBRL web data managing, presentation and analysis applications, XBRL formatted financial reports have a much better accessibility, are more accurate and better in timeliness.Keywords: Data Quality; Financial Report; Information; XBRL
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25511616 Improving Financial Education for Young Women: A Case Study of Australian School Students
Authors: Laura de Zwaan, Tracey West
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There is a sustained observable gender gap in financial literacy, with females consistently having lower levels than males. This research explores the knowledge and experiences of high school students in Australia aged 14 to 18 in order to understand how this gap can be improved. Using a predominantly qualitative approach, we find evidence to support impacts on financial literacy from financial socialization and socio-economic environment. We also find evidence that current teaching and assessment approaches to financial literacy may disadvantage female students. We conclude by offering recommendations to improve the way financial literacy education is delivered within the curriculum.
Keywords: Financial literacy, financial socialization, gender, maths.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3391615 Biological Soil Conservation Planning by Spatial Multi-Criteria Evaluation Techniques (Case Study: Bonkuh Watershed in Iran)
Authors: Ali Akbar Jamali
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This paper discusses site selection process for biological soil conservation planning. It was supported by a valuefocused approach and spatial multi-criteria evaluation techniques. A first set of spatial criteria was used to design a number of potential sites. Next, a new set of spatial and non-spatial criteria was employed, including the natural factors and the financial costs, together with the degree of suitability for the Bonkuh watershed to biological soil conservation planning and to recommend the most acceptable program. The whole process was facilitated by a new software tool that supports spatial multiple criteria evaluation, or SMCE in GIS software (ILWIS). The application of this tool, combined with a continual feedback by the public attentions, has provided an effective methodology to solve complex decisional problem in biological soil conservation planning.Keywords: GIS, Biological soil conservation planning, Spatial multi-criteria evaluation, Iran
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17121614 Introducing Successful Financial Innovations: Rewriting the Rules in Light of the Global Financial Crisis
Authors: Abdel Aziz, Hadia H.
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Since the 1980s, banks and financial service institutions have been running in an endless race of innovation to cope with the advancing technology, the fierce competition, and the more sophisticated and demanding customers. In order to guide their innovation efforts, several researches were conducted to identify the success and failure factors of new financial services. These mainly included organizational factors, marketplace factors and new service development process factors. They almost all emphasized the importance of customer and market orientation as a response to the highly perceptual and intangible characteristics of financial services. However, they deemphasized the critical characteristics of high involvement of risk and close correlation with the economic conditions, a factor that heavily contributed to the Global financial Crisis of 2008. This paper reviews the success and failure factors of new financial services. It then adds new perspectives emerging from the analysis of the role of innovation in the global financial crisis.
Keywords: Financial innovation, global financial crisis, lessons learned from global financial crisis, success factors in financial innovation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17211613 Financial Decision-Making among Finance Students: An Empirical Study from the Czech Republic
Authors: Barbora Chmelíková
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Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.
Keywords: Financial decision-making, financial literacy, personal finance, university students.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25021612 Determination of the Economic Planning Depth for Assembly Process Planning
Authors: A. Kampker, P. Burggräf, Y. Bäumers
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In order to be competitive, companies have to reduce their production costs while meeting increasing quality requirements. Therefore, companies try to plan their assembly processes as detailed as possible. However, increasing product individualization leading to a higher number of variants, smaller batch sizes and shorter product life cycles raise the question to what extent the effort of detailed planning is still justified. An important approach in this field of research is the concept of determining the economic planning depth for assembly process planning based on production specific influencing factors. In this paper first solution hypotheses as well as a first draft of the resulting method will be presented.Keywords: Assembly process planning, economic planning depth, planning benefit, planning effort.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21141611 Analysis on the Development and Evolution of China's Territorial Spatial Planning
Authors: He YuanYan
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In recent years, China has implemented the reform of land and space planning. As an important public policy, land and space planning plays a vital role in the construction and development of cities. Land and space planning throughout the country is in full swing, but there are still many disputes from all walks of life. The content, scope, and specific implementation process of land and space planning are also ambiguous, leading to the integration of multiple regulation problems such as unclear authority, unclear responsibilities, and poor planning results during the implementation of land and space planning. Therefore, it is necessary to sort out the development and evolution of domestic and foreign land space planning, clarify the problems and cruxes from the current situation of China's land space planning, and sort out the obstacles and countermeasures to the implementation of this policy, so as to deepen the understanding of the connotation of land space planning. It is of great practical significance for all planners to correctly understand and clarify the specific contents and methods of land space planning and to smoothly promote the implementation of land space planning at all levels.
Keywords: Territorial spatial planning, public policy, land space, overall planning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2121610 An Integrated Planning Framework for Sustainable Tourism: Case Study of Tunisia
Authors: S. Halioui, I. Arikan, M. Schmidt
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Tourism sector in Tunisia faces several problems that range from economic challenges to environmental degradation and social instability. These problems have been intensified because of the increased competition in the tourism market, the political instability, financial crises, and recently terrorism problems have aggravated the situation. As a consequence, a new framework that promotes sustainable tourism in the country and increases its competitiveness is urgently needed. Planning for sustainable tourism sector requires the integration of complex interactions between economic, social and environmental aspects. Sustainable tourism principles can be implemented with the help of Strategic Environmental Assessment (SEA) process, which ensures the full integration of economic, social and environmental considerations while planning for the tourism sector in Tunisia. Results of the paper have broad implications for policy makers and tourism professionals.Keywords: Sustainable tourism, strategic environmental assessment, tourism planning, policy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14931609 Financial Inclusion from the Perspective of Social Innovation: The Case of Colombia
Authors: Jaramillo G. Maria Luisa, Turriago H. Álvaro, Thoene Ulf
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Financial inclusion has become a crucially important factor in debates on economic inequality posing challenges to the financial systems of countries around the world. Nowadays governments and banks are concerned about creating products that allow access to wide sectors of the population. The creation of banking products by the financial sector for people with low incomes tends to lead to improvements in the quality of life of vulnerable parts of the population. In countries with notable social and economic inequalities, financial inclusion is a key aspect for equitable economic growth. This study is based on the case of Colombia, which is a country with a strong record of economic growth over the past decade. Nevertheless, corruption, unemployment, and poverty contribute to uncertainty regarding the country’s future growth prospects. This study wants to explain the situation of financial exclusion and financial inclusion with respect to the Colombian case. Financial inclusion is going to be studied from the perspective of social innovation.Keywords: Colombia, financial exclusion, financial inclusion, social innovation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16741608 Linking Urban Planning and Water Planning to Achieve Sustainable Development and Liveability Outcomes in the New Growth Areas of Melbourne, Australia
Authors: Dennis Corbett
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The city of Melbourne in Victoria, Australia, provides a number of examples of how a growing city can integrate urban planning and water planning to achieve sustainable urban development, environmental protection, liveability and integrated water management outcomes, and move towards becoming a “Water Sensitive City". Three examples are provided - the development at Botanic Ridge, where a 318 hectare residential development is being planned and where integrated water management options are being implemented using a “triple bottom line" sustainability investment approach; the Toolern development, which will capture and reuse stormwater and recycled water to greatly reduce the suburb-s demand for potable water, and the development at Kalkallo where a 1,200 hectare industrial precinct development is planned which will merge design of the development's water supply, sewerage services and stormwater system. The Paper argues that an integrated urban planning and water planning approach is fundamental to creating liveable, vibrant communities which meet social and financial needs while being in harmony with the local environment. Further work is required on developing investment frameworks and risk analysis frameworks to ensure that all possible solutions can be assessed equally.
Keywords: Integrated water management, stormwater management, sustainable urban development.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20971607 Assessment-Assisted and Relationship-Based Financial Advising: Using an Empirical Assessment to Understand Personal Investor Risk Tolerance in Professional Advising Relationships
Authors: Jerry Szatko, Edan L. Jorgensen, Stacia Jorgensen
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A crucial component to the success of any financial advising relationship is for the financial professional to understand the perceptions, preferences and thought-processes carried by the financial clients they serve. Armed with this information, financial professionals are more quickly able to understand how they can tailor their approach to best match the individual preferences and needs of each personal investor. Our research explores the use of a quantitative assessment tool in the financial services industry to assist in the identification of the personal investor’s consumer behaviors, especially in terms of financial risk tolerance, as it relates to their financial decision making. Through this process, the Unitifi Consumer Insight Tool (UCIT) was created and refined to capture and categorize personal investor financial behavioral categories and the financial personality tendencies of individuals prior to the initiation of a financial advisement relationship. This paper discusses the use of this tool to place individuals in one of four behavior-based financial risk tolerance categories. Our discoveries and research were aided through administration of a web-based survey to a group of over 1,000 individuals. Our findings indicate that it is possible to use a quantitative assessment tool to assist in predicting the behavioral tendencies of personal consumers when faced with consumer financial risk and decisions.
Keywords: Behavior based advising, behavioral finance, financial advising, financial advisor tools, financial risk tolerance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9501606 Application of Company Financial Crisis Early Warning Model- Use of “Financial Reference Database“
Authors: Chiung-ying Lee, Chia-hua Chang
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In July 1, 2007, Taiwan Stock Exchange (TWSE) on market observation post system (MOPS) adds a new "Financial reference database" for investors to do investment reference. This database as a warning to public offering companies listed on the public financial information and it original within eight targets. In this paper, this database provided by the indicators for the application of company financial crisis early warning model verify that the database provided by the indicator forecast for the financial crisis, whether or not companies have a high accuracy rate as opposed to domestic and foreign scholars have positive results. There is use of Logistic Regression Model application of the financial early warning model, in which no joined back-conditions is the first model, joined it in is the second model, has been taken occurred in the financial crisis of companies to research samples and then business took place before the financial crisis point with T-1 and T-2 sample data to do positive analysis. The results show that this database provided the debt ratio and net per share for the best forecast variables.Keywords: Financial reference database, Financial early warning model, Logistic Regression.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14211605 Risk Classification of SMEs by Early Warning Model Based on Data Mining
Authors: Nermin Ozgulbas, Ali Serhan Koyuncugil
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One of the biggest problems of SMEs is their tendencies to financial distress because of insufficient finance background. In this study, an Early Warning System (EWS) model based on data mining for financial risk detection is presented. CHAID algorithm has been used for development of the EWS. Developed EWS can be served like a tailor made financial advisor in decision making process of the firms with its automated nature to the ones who have inadequate financial background. Besides, an application of the model implemented which covered 7,853 SMEs based on Turkish Central Bank (TCB) 2007 data. By using EWS model, 31 risk profiles, 15 risk indicators, 2 early warning signals, and 4 financial road maps has been determined for financial risk mitigation.
Keywords: Early Warning Systems, Data Mining, Financial Risk, SMEs.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 33761604 Financial Literacy Testing: Results of Conducted Research and Introduction of a Project
Authors: J. Nesleha, H. Florianova
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The goal of the study is to provide results of a conducted study devoted to financial literacy in the Czech Republic and to introduce a project related to financial education in the Czech Republic. Financial education has become an important part of education in the country, yet it is still neglected on the lowest level of formal education–primary schools. The project is based on investigation of financial literacy on primary schools in the Czech Republic. Consequently, the authors aim to formulate possible amendments related to this type of education. The gained dataset is intended to be used for analysis concerning financial education in the Czech Republic. With regard to used methods, the most important one is regression analysis for disclosure of predictors causing different levels of financial literacy. Furthermore, comparison of different groups is planned, for which t-tests are intended to be used. The study also employs descriptive statistics to introduce basic relationship in the data file.Keywords: Czech Republic, financial education, financial literacy, primary school, regression analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 8451603 Usage of Internet Technology in Financial Education and Financial Inclusion by Students of Economics Universities
Authors: B. Frączek
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The paper analyses the usage of the Internet by university students in Visegrad Countries (4V Countries) who study economic fields in their formal and informal financial education and captures the areas of untapped potential of Internet in educational processes. Higher education and training, technological readiness, and the financial market development are in the group of pillars, that are key for efficiency driven economies. These three pillars have become an inspiration to the research on using the Internet in the financial education among economic university students as the group of the best educated people in finance. The financial education is a process that allows for improving the level of financial literacy. In turn, the financial literacy it is the set of financial knowledge, skills, awareness and patterns influencing the financial decisions. The level of financial literacy influences the level of financial well-being of individuals, determines the scale of saving of households and at the same time gives the greater chance for sustainable and more predictable development of the financial market with the positive impact on economy. The financial literacy is necessary for each group of society but its appropriate level is desirable especially in respect of economics students as future participants of financial markets as well as the experts and advisors in financial decision making. The low level of financial literacy is the great problem of many target groups in both developing and developed countries and the financial education is seen as the best way of improving this situation. Also the financial inclusion plays the special role in enhancing the level of financial literacy in the aspect of education by practice as well as due to interrelation between level of financial literacy and degree of financial inclusion. Despite many initiatives under financial education, the level of financial literacy is still very low. Scientists still search for new ways of solving this problem. One of the proposal is more effective usage of the new technology in financial education, especially the Internet, because of the growing popularity of e-learning and the increasing number of Internet users, especially among young people who are called the Generation Net. Due to special role of the university students studying the economics fields for the future financial markets, students of four universities from Visegrad Countries (Czech Republic, Hungary, Poland and Slovakia) were invited to participate in the survey. The aim of the article is to present the level and ways of using the Internet technology in financial education and indicating the so far unused or underused opportunities.
Keywords: Financial education, financial inclusion, financial literacy, usage of Internet in education.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15311602 Implementation-Oriented Discussion for Historical and Cultural Villages’ Conservation Planning
Authors: Xing Zhang
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Since the State Council of China issued the Regulations on the Conservation of Historical Cultural Towns and Villages in 2008, formulation of conservation planning has been carried out in national, provincial and municipal historical and cultural villages for protection needs, which provides a legal basis for inheritance of historical culture and protection of historical resources. Although the quantity and content of the conservation planning are continually increasing, the implementation and application are still ambiguous. To solve the aforementioned problems, this paper explores methods to enhance the implementation of conservation planning from the perspective of planning formulation. Specifically, the technical framework of "overall objectives planning - sub-objectives planning - zoning guidelines - implementation by stages" is proposed to implement the planning objectives in different classifications and stages. Then combined with details of the Qiqiao historical and cultural village conservation planning project in Ningbo, five sub-objectives are set, which are implemented through the village zoning guidelines. At the same time, the key points and specific projects in the near-term, medium-term and long-term work are clarified, and the spatial planning is transformed into the action plan with time scale. The proposed framework and method provide a reference for the implementation and management of the conservation planning of historical and cultural villages in the future.Keywords: Conservation planning, planning by stages, planning implementation, zoning guidelines.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7781601 Planning of Road Infrastructure Financing: Computational Finance Viewpoint
Authors: Ornst J., Voracek J., Allouache A., Allouache D.
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Lack of resources for road infrastructure financing is a problem that currently affects not only eastern European economies but also many other countries especially in relation to the impact of global financial crisis. In this context, we are talking about the socalled short-investment problem as a result of long-term lack of investment resources. Based on an analysis of road infrastructure financing in the Czech Republic this article points out at weaknesses of current system and proposes a long-term planning methodology supported by system approach. Within this methodology and using created system dynamic model the article predicts the development of short-investment problem in the Country and in reaction on the downward trend of certain sources the article presents various scenarios resulting from the change of the structure of financial sources. In the discussion the article focuses more closely on the possibility of introduction of tax on vehicles instead of taxes with declining revenue streams and estimates its approximate price in relation to reaching various solutions of short-investment in time.Keywords: Road financing, road infrastructure development, system dynamics
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13891600 Granger Causal Nexus between Financial Development and Energy Consumption: Evidence from Cross Country Panel Data
Authors: Rudra P. Pradhan
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This paper examines the Granger causal nexus between financial development and energy consumption in the group of 35 Financial Action Task Force (FATF) Countries over the period 1988-2012. The study uses two financial development indicators such as private sector credit and stock market capitalization and seven energy consumption indicators such as coal, oil, gas, electricity, hydro-electrical, nuclear and biomass. Using panel cointegration tests, the study finds that financial development and energy consumption are cointegrated, indicating the presence of a long-run relationship between the two. Using a panel vector error correction model (VECM), the study detects both bidirectional and unidirectional causality between financial development and energy consumption. The variation of this causality is due to the use of different proxies for both financial development and energy consumption. The policy implication of this study is that economic policies should recognize the differences in the financial development-energy consumption nexus in order to maintain sustainable development in the selected 35 FATF countries.Keywords: Financial development, energy consumption, Panel VECM, FATF countries.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15061599 Financial Deepening and Economic Growth Dynamics: Empirical Evidence from the West African Monetary Zone
Authors: Chidera G. Eze, Kennedy K. Abrokwa, Chimaobi V. Okolo
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This paper empirically examines the dynamic relationship between financial deepening and economic growth in a monetary union. We find positive but weak evidence of impacts of financial deepening on growth for Gambia, Gabon and Sierra Leone. There is no evidence of any positive significant impact for Ghana and Nigeria. We argue that, the weak evidence between financial deepening and economic growth can be a consequence of the inability of assessing credit (long-term loans), credit worthiness, lack of information and low level of bank deposits by the private sector despite the improvement in the financial sector.
Keywords: Financial deepening, economic growth, dynamics, innovation accounting.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17991598 Implementation of CMMS Software for a Maintenance Plan in a Manufacturing Industry
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).
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 34171597 Good Urban Planning and Management: New Aspects and Methodologies
Authors: Fattaneh Daneshmand Malayeri
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In this paper, in addition to introducing good urban planning and its effects on globalization, some new methodologies in urban management and another urban aspects has been presented. Some new concerns in increasing of urban population , metropolitans and its relations on big problems has been focused in this paper. It is very important matter that future urban planning with based on globalization will be with full of basically changes in its management and perspectives.
Keywords: Urban planning, urban management, good governance, globalization, metropolitan, strategic planning
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 28971596 The Relationship between Spatial Planning and Transportation Planning in Southern Africa and its Consequences for Human Settlement
Authors: David Dewar
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The paper reviews the relationship between spatial and transportation planning in the Southern African Development Community (SADC) region of Sub-Saharan Africa. It argues that most urbanisation in the region has largely occurred subsequent to the 1950s and, accordingly, urban development has been profoundly and negatively affected by the (misguided) spatial and institutional tenets of modernism. It demonstrates how a considerable amount of the poor performance of these settlements can be directly attributed to this. Two factors in particular about the planning systems are emphasized: the way in which programmatic land-use planning lies at the heart of both spatial and transportation planning; and the way on which transportation and spatial planning have been separated into independent processes. In the final section, the paper identifies ways of improving the planning system. Firstly, it identifies the performance qualities which Southern African settlements should be seeking to achieve. Secondly, it focuses on two necessary arenas of change: the need to replace programmatic land-use planning practices with structuralspatial approaches; and it makes a case for making urban corridors a spatial focus of integrated planning, as a way of beginning the restructuring and intensification of settlements which are currently characterised by sprawl, fragmentation and separationKeywords: Corridors, modernism, programmatic planning, structural-spatial planning
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23521595 On the Differentiation of Strategic Spatial Planning Making Mechanisms in New Era: Between Melbourne and Tianjin
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Strategic spatial planning, which is taken as an effective and competitive way for the governors of the city to improve the development and management level of a city, has been blooming in recent years all over the world. In the context of globalization and informatization, strategic spatial planning must transfer its focus on three different levels: global, regional and urban. Internal and external changes in environmental conditions lead to new advances in strategic planning both theoretically and practically. However, such advances or changes respond differently to cities on account of different dynamic mechanisms. This article aims at two cities of Tianjin in China and Melbourne in Australia, through a comparative study on strategic planning, to explore the differentiation of mechanisms in urban planning making. By comparison and exploration, the purpose of this article is to exhibit two different planning worlds between western and Chinese in a new way nowadays.
Keywords: Differentiation, Tianjin China, Melbourne Australia, strategic planning.
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