Search results for: market auction mechanism

Authors: Durga Gautam, Mithulananthan Nadarajah

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This paper presents the influence of distributed generation (DG) on congestion and locational marginal price (LMP) in an optimal power flow (OPF) based wholesale electricity market. The problem of optimal placement to manage congestion and reduce LMP is formulated for the objective of social welfare maximization. From competitive electricity market standpoint, DGs have great value when they reduce load in particular locations and at particular times when feeders are heavily loaded. The paper lies on the groundwork that solution to optimal mix of generation and transmission resources can be achieved by addressing congestion and corresponding LMP. Obtained as lagrangian multiplier associated with active power flow equation for each node, LMP gives the short run marginal cost (SRMC) of electricity. Specific grid locations are examined to study the influence of DG penetration on congestion and corresponding shadow prices. The influence of DG on congestion and locational marginal prices has been demonstrated in a modified IEEE 14 bus test system.

Keywords: Congestion management, distributed generation, electricity market, locational marginal price, optimal power flow, social welfare.

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Authors: Jan Pavel

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Public procurement is one of the most important areas in the public sector that introduces a possibility for a corruption. Due to the volume of the funds that are allocated through this institution (in the EU countries it is between 10 – 15% of GDP), it has very serious implications for the efficiency of public expenditures and the overall economic efficiency as well. Indicators that are usually used for the measurement of the corruption (such as Corruption Perceptions Index - CPI) show that the worst situation is in the post-communist countries and Mediterranean countries. The presented paper uses the Czech Republic as an example of a post-communist country and analyses the factors which influence the scope of corruption in public procurement. Moreover, the paper discusses indicators that could point at the public procurement market inefficiency. The presented results show that post-communist states use the institute of public contracts significantly more than the old member countries of the continental Europe. It has a very important implication because it gives more space for corruption. Furthermore, it appears that the inefficient functioning of public procurement market is clearly manifested in the low number of bids, low level of market transparency and an ineffective control system. Some of the observed indicators are statistically significantly correlated with the CPI.

Keywords: Czech Republic, Corruption, Public Procurement, Post-Communist Countries

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Authors: F. Di Pillo, G. Capece, L. Cricelli, N. Levialdi

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The liberalization and privatization processes have forced public utility companies to face new competitive challenges, implementing strategies to gain market share and, at the same time, keep the old customers. To this end, many companies have carried out mergers, acquisitions and conglomerations in order to diversify their business. This paper focuses on companies operating in the free energy market in Italy. In the last decade, this sector has undergone profound changes that have radically changed the competitive scenario and have led companies to implement diversification strategies of the business. Our work aims to evaluate the economic and financial performances obtained by energy companies, following the beginning of the liberalization process, verifying the possible relationship with the implemented diversification strategies.

Keywords: Business diversification strategies, M&A, the Italian energy market liberalization, economic and financial performances.

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Authors: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, M. Saghareishvili

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The article discusses the consumer market of agricultural products and agricultural policy in Georgia. It is noted that development of the strategic areas of the agricultural sector needs a special support. These strategic areas should create the country's major export potential. It is important to develop strategies to access to the international markets, form extensive marketing network etc., which will become the basis for the promotion and revenue growth of the country. The Georgian agricultural sector, with the right state policy and support, can achieve success and gain access to the world market with competitive agricultural products. The paper discusses the current condition of agriculture, export and import of agricultural products and agricultural policy in Georgia. The conducted research concludes the information that there is an increasing demand on the green goods in the world market. Natural and climatic conditions of Georgia give a serious possibility of implementing it. The research presents an agricultural development strategy in Georgia and the findings and based on them recommendations are proposed.

Keywords: Agriculture, agricultural cooperative society agricultural insurance, agricultural policy, export-import of agricultural products.

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Authors: Maziar Sadeghi, Amir Moradi

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This paper proposes a robot able to climb Columns. This robot is not dependent on the diameter and material of the columns. Some climbing robots have been designed up to now but Koala robot was designed and fabricated for climbing columns exclusively. Simple kinematics of climbing in the nature inspired us to design this robot. We used two linear mechanisms to grip the column. The gripper consists of a DC motor and a power screw mechanism with a linear bushing as a guide. This mechanism provides enough force to grip the column. In addition we needed an actuator for climbing the column; hence, two pneumatic jacks were used. All the mechanical parts were designed according to the exerted forces and operational condition. The prototype can be simply installed and controlled on the column by an inexperienced operator. This robot is intended for inspection and surveillance of pipes in oil industries and power poles in electric industries.

Keywords: Robot, Column-climber, Gripping mechanism, Koala.

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Authors: Bassam Baroma

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The main objective of this study is to test the relationship between numbers of variables representing the firm characteristics (market-related variables) and the extent of voluntary disclosure levels (forward-looking disclosure) in the annual reports of Egyptian firms listed on the Egyptian Stock Exchange. The results show that audit firm size is significantly positively correlated (in all the three years) with the level of forward-looking disclosure. However, industry type variable (which divided to: industries, cement, construction, petrochemicals and services), is found being insignificantly association with the level of forward-looking information disclosed in the annual reports for all the three years.

Keywords: Forward-looking disclosure, market-related variables, annual reports, Egyptian Stock Exchange.

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Authors: Ivan Pavic, Fran Galetic, Tomislava Pavic Kramaric

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The purpose of this article is to analyze the degree of concentration in the banking market in EU member states as well as to determine the impact of the length of EU membership on the degree of concentration. In that sense several analysis were conducted, specifically, panel analysis, calculation of correlation coefficient and regression analysis of the impact of the length of EU membership on the degree of concentration. Panel analysis was conducted to determine whether there is a similar trend of concentration in three groups of countries - countries with a low, moderate and high level of concentration. The conducted panel analysis showed that in EU countries with a moderate level of concentration, the level of concentration decreases. The calculation of correlation showed that, to some extent, with other influential factors, the length of EU membership negatively affects the market concentration of the banking market. Using the regression analysis for investigation of the influence of the length of EU membership on the level of concentration in the banking sector in a particular country, the results reveal that there is a negative effect of the length in EU membership on market concentration, although it is not significantly influential variable.

Keywords: Banking sector, concentration, EU

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Authors: Shunsuke Saito, Kazuho Yoshimoto, Shunichi Ohmori, Sirawadee Arunyanart

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In this paper, we suggest a mechanism of assessment that rater and Ratee (or employees) to convince. There are many problems exist in the personnel assessment. In particular, we were focusing on the three. (1) Raters are not sufficiently recognized assessment point. (2) Ratee are not convinced by the mechanism of assessment. (3) Raters (or Evaluators) and ratees have empathy. We suggest 1: Setting of "understanding of the assessment points." 2: Setting of "relative assessment ability." 3: Proposal of two-way assessment mechanism to solve these problems. As a prerequisite, it is assumed that there are multiple raters. This is because has been a growing importance of multi-faceted assessment. In this model, it determines the weight of each assessment point evaluators by the degree of understanding and assessment ability of raters and ratee. We used the ANP (Analytic Network Process) is a theory that an extension of the decision-making technique AHP (Analytic Hierarchy Process). ANP can be to address the problem of forming a network and assessment of Two-Way is possible. We apply this technique personnel assessment, the weights of rater of each point can be reasonably determined. We suggest absolute assessment for Two-Way assessment by ANP. We have verified that the consent of the two approaches is higher than conventional mechanism. Also, human resources consultant we got a comment about the application of the practice.

Keywords: Personnel assessment, ANP (analytic network process), two-way.

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Authors: M. Chobotová, Ž. Rylková

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Time full of changes which is associated with globalization, tougher competition, changes in the structures of markets and economic downturn, that all force companies to think about their competitive advantages. These changes can bring the company a competitive advantage and that can help improve competitive position in the market. Policy of the European Union is focused on the fast growing innovative companies which quickly respond to market demands and consequently increase its competitiveness. To meet those objectives companies need the right conditions and support of their state.

Keywords: Innovation, performance, measurements metrics, indices.

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Authors: H. Mohammadipanah, H. Zohoor

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This paper presents kinematic and dynamic analysis of a novel 8-DOF hybrid robot manipulator. The hybrid robot manipulator under consideration consists of a parallel robot which is followed by a serial mechanism. The parallel mechanism has three translational DOF, and the serial mechanism has five DOF so that the overall degree of freedom is eight. The introduced manipulator has a wide workspace and a high capability to reduce the actuating energy. The inverse and forward kinematic solutions are described in closed form. The theoretical results are verified by a numerical example. Inverse dynamic analysis of the robot is presented by utilizing the Iterative Newton-Euler and Lagrange dynamic formulation methods. Finally, for performing a multi-step arc welding process, results have indicated that the introduced manipulator is highly capable of reducing the actuating energy.

Keywords: hybrid robot, closed form, inverse dynamic, actuating energy, arc welding

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Authors: Pongsiri K.

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This research aimed to study the market feasibility for new brand coffee house, the case study of Thailand.. This study is a mixed methods research combining quantitative research and the qualitative research. Primary data 350 sets of questionnaires were distributed, and the high quality completed questionnaires of 320 sets returned. Research samples are identified as customers’ of Hi-end department stores in Thailand. The sources of secondary data were critical selected from highly reliable sources, both from public and private sectors. The results were used to classify the customer group into two main groups, the younger than 25 and the older than 25years old. Results of the younger group, are give priority to the dimension of coffee house and its services dimension more than others, then branding dimension and the product dimension respectively. On the other hand, the older group give the difference result as they rate the important of the branding, coffee house and its services, then the product respectively. Coffee consuming is not just the trend but it has become part of people lifestyle. And the new cultures also created by the wise businessman. Coffee was long produced and consumed in Thailand. But it is surprisingly the hi-end brand coffee houses in Thai market are mostly imported brands. The café business possibility for Thai brand coffee house in Thai market were discussed in the paper.

Keywords: Coffee House, Café, Coffee Consuming and new entry branding, market feasibility

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Authors: Yi-Ting Mai, Chun-Chuan Yang, Cheng-Jung Wen

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IEEE 802.16 is a new wireless technology standard, it has some advantages, including wider coverage, higher bandwidth, and QoS support. As the new wireless technology for last mile solution, there are designed two models in IEEE 802.16 standard. One is PMP (point to multipoint) and the other is Mesh. In this paper we only focus on IEEE 802.16 Mesh model. According to the IEEE 802.16 standard description, Mesh model has two scheduling modes, centralized and distributed. Considering the pros and cons of the two scheduling, we present the combined scheduling QoS framework that the BS (Base Station) controls time frame scheduling and selects the shortest path from source to destination directly. On the other hand, we propose the Expedited Queue mechanism to cut down the transmission time. The EQ mechanism can reduce a lot of end-to-end delay in our QoS framework. Simulation study has shown that the average delay is smaller than contrasts. Furthermore, our proposed scheme can also achieve higher performance.

Keywords: IEEE 802.16 Mesh, Scheduling, Expedited Queue, QoS.

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Authors: Yongxian Jin, Jingzhou Huang

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In an open real-time system environment, the coexistence of different kinds of real-time and non real-time applications makes the system scheduling mechanism face new requirements and challenges. One two-level scheduling scheme of the open real-time systems is introduced, and points out that hard and soft real-time applications are scheduled non-distinctively as the same type real-time applications, the Quality of Service (QoS) cannot be guaranteed. It has two flaws: The first, it can not differentiate scheduling priorities of hard and soft real-time applications, that is to say, it neglects characteristic differences between hard real-time applications and soft ones, so it does not suit a more complex real-time environment. The second, the worst case execution time of soft real-time applications cannot be predicted exactly, so it is not worth while to cost much spending in order to assure all soft real-time applications not to miss their deadlines, and doing that may cause resource wasting. In order to solve this problem, a novel two-level real-time scheduling mechanism (including scheduling profile and scheduling algorithm) which adds the process of dealing with soft real-time applications is proposed. Finally, we verify real-time scheduling mechanism from two aspects of theory and experiment. The results indicate that our scheduling mechanism can achieve the following objectives. (1) It can reflect the difference of priority when scheduling hard and soft real-time applications. (2) It can ensure schedulability of hard real-time applications, that is, their rate of missing deadline is 0. (3) The overall rate of missing deadline of soft real-time applications can be less than 1. (4) The deadline of a non-real-time application is not set, whereas the scheduling algorithm that server 0 S uses can avoid the “starvation" of jobs and increase QOS. By doing that, our scheduling mechanism is more compatible with different types of applications and it will be applied more widely.

Keywords: Hard real-time, two-level scheduling profile, open real-time system, non-distinctive schedule, soft real-time

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Authors: M. Amlie A. Kasim, Ahsana Aqilah, Ahmed Jaffar, Cheng Yee Low, Roseleena Jaafar, M. Saiful Bahari, Armansyah

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The study of human hand morphology reveals that developing an artificial hand with the capabilities of human hand is an extremely challenging task. This paper presents the development of a robotic prosthetic hand focusing on the improvement of a tendon driven mechanism towards a biomimetic prosthetic hand. The design of this prosthesis hand is geared towards achieving high level of dexterity and anthropomorphism by means of a new hybrid mechanism that integrates a miniature motor driven actuation mechanism, a Shape Memory Alloy actuated mechanism and a passive mechanical linkage. The synergy of these actuators enables the flexion-extension movement at each of the finger joints within a limited size, shape and weight constraints. Tactile sensors are integrated on the finger tips and the finger phalanges area. This prosthesis hand is developed with an exact size ratio that mimics a biological hand. Its behavior resembles the human counterpart in terms of working envelope, speed and torque, and thus resembles both the key physical features and the grasping functionality of an adult hand.

Keywords: Prosthetic hand, Biomimetic actuation, Shape Memory Alloy, Tactile sensing.

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Authors: Edikan E. Akpanibah, Ogunmodimu Dupe Catherine

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The relevance of geometric Brownian motion (GBM) in modelling the behaviour of stock market prices (SMP) cannot be over emphasized taking into consideration the volatility of the SMP. Consequently, there is need to investigate how GBM models are being estimated and used in financial market to predict SMP. To achieve this, the GBM estimation and its application to the SMP of some selected companies are studied. The normal and log-normal distributions were used to determine the expected value, variance and co-variance. Furthermore, the GBM model was used to predict the SMP of some selected companies over a period of time and the mean absolute percentage error (MAPE) were calculated and used to determine the accuracy of the GBM model in predicting the SMP of the four companies under consideration. It was observed that for all the four companies, their MAPE values were within the region of acceptance. Also, the MAPE values of our data were compared to an existing literature to test the accuracy of our prediction with respect to time of investment. Finally, some numerical simulations of the graphs of the SMP, expectations and variance of the four companies over a period of time were presented using MATLAB programming software.

Keywords: Stock Market, Geometric Brownian Motion, normal and log-normal distribution, mean absolute percentage error.

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Authors: Mingaleva Zhanna, Gayfutdinova Oksana, Podgornova Evgenia

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The regional innovative competitiveness is an integrating characteristic of the innovative sphere of the region. It depends on a big variety of different parameters connected with all kinds of economic entities- activities. But management parameters shouldn't be irregular, so in order to avoid it, an institutional system should be formed. This system should carry out strategic management of factors having the greatest influence on the region's innovative development. This article is devoted to different aspects of organization of the region's development institutional mechanism, which is based on management of regional innovative competitiveness parameters. The base of the analysis is innovatively-active Russian regions which were compared according to the level of the innovative competitiveness. After that the most important parameters of successful innovative development of the region were revealed with the help of the correlation-regression analysis. The results of the research could be used for investigation of the region's innovative policy.

Keywords: Regional innovative competitiveness, institutional mechanism, innovative region development, correlation-regression analysis.

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Authors: Bello Nurudeen Akinsola

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The study analyzed the risk and returns of commercial-property in Southwestern Nigeria and selected stocksmarket investment between 2000 and 2009; compared the inflation hedging characteristics and diversification potentials of investing in commercial-property and selected stock- market investment. Primary data were collected on characteristics, rental and capital values of commercial- properties from their property managers through the use of questionnaire. Secondary data on stock prices and dividends on banking, insurance and conglomerates sectors were sourced from the Nigerian Stock Exchange (2000-2009). The result showed that average return on all the selected stock- investments was higher than that of commercial-property. As regards risk, commercial-property indicated lower risk, compared to stocks. Also the stock-investment had better inflation hedging capacity than commercial-properties; combination of both had diversification potentials. The study concluded that stock-market investment offered attractive higher return than commercial-property although with higher risk and there could be diversification benefits in combining commercial-property with stock- investment.

Keywords: Commercial-Property, Return, Risk, Stock Market

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Authors: Slavka Zeković

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A preliminary evaluation of the urban land system is presented in the article together with the instruments of land policy in Serbia. The main reason for the analysis is demand for definition of reform framework for urban land management in Serbia in the period of transition towards market-led system. It is concluded that due to the limitations of the current regulation it will be impossible in the future to apply market principles in the urban land policy (supply and demand of land, land capitalization, investment efficiency, et al.). Based on the estimation that the urban land system and land policy are key factors of competitiveness between regions and towns in Serbia, it is necessary to initiate changes in this field. There are indicated on an option of privatization of urban public land and possible establishment of leasehold land. A comparative analysis of the possibilities of the reform urban land system in Serbia has been carried out in relation to two approaches of market systems: (a) with dominant private ownership of urban land (neo/liberal approach) and (b) with dominant public ownership of urban land (system of leasehold)whose findings can be a basis for further study of the new system in Serbia.. The attanied results are part of studies matter for the making of Strategy of territorial development of Serbia.

Keywords: Urban Land System, Urban Land Management, Instruments of Land Policy, Evaluation, Market.

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Authors: Zaw Tun, Aung Htein Maw

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The nature of wireless ad hoc and sensor networks make them very attractive to attackers. One of the most popular and serious attacks in wireless ad hoc networks is wormhole attack and most proposed protocols to defend against this attack used positioning devices, synchronized clocks, or directional antennas. This paper analyzes the nature of wormhole attack and existing methods of defending mechanism and then proposes round trip time (RTT) and neighbor numbers based wormhole detection mechanism. The consideration of proposed mechanism is the RTT between two successive nodes and those nodes- neighbor number which is needed to compare those values of other successive nodes. The identification of wormhole attacks is based on the two faces. The first consideration is that the transmission time between two wormhole attack affected nodes is considerable higher than that between two normal neighbor nodes. The second detection mechanism is based on the fact that by introducing new links into the network, the adversary increases the number of neighbors of the nodes within its radius. This system does not require any specific hardware, has good performance and little overhead and also does not consume extra energy. The proposed system is designed in ad hoc on-demand distance vector (AODV) routing protocol and analysis and simulations of the proposed system are performed in network simulator (ns-2).

Keywords: AODV, Wormhole attacks, Wireless ad hoc andsensor networks

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Authors: A. Idawaty, O. Mohamed, A. Z. Zuriati

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This paper presents the development of an event based Discrete Event Simulation (DES) for a recovery algorithm known Backward Recovery Global Preemptive Utility Accrual Scheduling (BR_GPUAS). This algorithm implements the Backward Recovery (BR) mechanism as a fault recovery solution under the existing Time/Utility Function/ Utility Accrual (TUF/UA) scheduling domain for multiprocessor environment. The BR mechanism attempts to take the faulty tasks back to its initial safe state and then proceeds to re-execute the affected section of the faulty tasks to enable recovery. Considering that faults may occur in the components of any system; a fault tolerance system that can nullify the erroneous effect is necessary to be developed. Current TUF/UA scheduling algorithm uses the abortion recovery mechanism and it simply aborts the erroneous task as their fault recovery solution. None of the existing algorithm in TUF/UA scheduling domain in multiprocessor scheduling environment have considered the transient fault and implement the BR mechanism as a fault recovery mechanism to nullify the erroneous effect and solve the recovery problem in this domain. The developed BR_GPUAS simulator has derived the set of parameter, events and performance metrics according to a detailed analysis of the base model. Simulation results revealed that BR_GPUAS algorithm can saved almost 20-30% of the accumulated utilities making it reliable and efficient for the real-time application in the multiprocessor scheduling environment.

Keywords: Time Utility Function/ Utility Accrual (TUF/UA) scheduling, Real-time system (RTS), Backward Recovery, Multiprocessor, Discrete Event Simulation (DES).

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Authors: M. Jalali Azizpour, H. Mohammadi majd

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In this paper, the wear of high speed steel hobs during hobbing has been studied. The wear mechanisms are strongly influenced by the choice of cutting speed. At moderate and high cutting speeds three major wear mechanisms were identified: abrasion, mild adhesive and severe adhesive. The microstructure and wear behavior of two high speed steel grades (M2 and ASP30) has been compared. In contrast, a variation in chemical composition or microstructure of HSS tool material generally did not change the dominant wear mechanism. However, the tool material properties determine the resistance against the operating wear mechanism and consequently the tool life. The metallographic analysis and wear measurement at the tip of hob teeth included scanning electron microscopy and stereoscope microscopy. Roughness profilometery is used for measuring the gear surface roughness.

Keywords: abrasion, adhesion, cutting speed, hobbing, wear mechanism

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Authors: Lien-Fa Lin, Yung-Ming Li, Fu-Shun Hsieh

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With the advancement of information technology and development of group commerce, people have obviously changed in their lifestyle. However, group commerce faces some challenging problems. The products or services provided by vendors do not satisfactorily reflect customers’ opinions, so that the sale and revenue of group commerce gradually become lower. On the other hand, the process for a formed customer group to reach group-purchasing consensus is time-consuming and the final decision is not the best choice for each group members. In this paper, we design a social decision support mechanism, by using group discussion message to recommend suitable options for group members and we consider social influence and personal preference to generate option ranking list. The proposed mechanism can enhance the group purchasing decision making efficiently and effectively and venders can provide group products or services according to the group option ranking list.

Keywords: Social network, group decision, text mining, group commerce.

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Authors: K. Nirmala Devi, V. Murali Bhaskaran

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Traditional document representation for classification follows Bag of Words (BoW) approach to represent the term weights. The conventional method uses the Vector Space Model (VSM) to exploit the statistical information of terms in the documents and they fail to address the semantic information as well as order of the terms present in the documents. Although, the phrase based approach follows the order of the terms present in the documents rather than semantics behind the word. Therefore, a semantic concept based approach is used in this paper for enhancing the semantics by incorporating the ontology information. In this paper a novel method is proposed to forecast the intraday stock market price directional movement based on the sentiments from Twitter and money control news articles. The stock market forecasting is a very difficult and highly complicated task because it is affected by many factors such as economic conditions, political events and investor’s sentiment etc. The stock market series are generally dynamic, nonparametric, noisy and chaotic by nature. The sentiment analysis along with wisdom of crowds can automatically compute the collective intelligence of future performance in many areas like stock market, box office sales and election outcomes. The proposed method utilizes collective sentiments for stock market to predict the stock price directional movements. The collective sentiments in the above social media have powerful prediction on the stock price directional movements as up/down by using Granger Causality test.

Keywords: Bag of Words, Collective Sentiments, Ontology, Semantic relations, Sentiments, Social media, Stock Prediction, Twitter, Vector Space Model and wisdom of crowds.

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Authors: Rawaa H. El-Bidweihy, Hisham M. Abdelsalam, Ihab A. El-Khodary

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Bayesian networks are now considered to be a promising tool in the field of energy with different applications. In this study, the aim was to indicate the states of a previous constructed Bayesian network related to the solar energy in Egypt and the factors affecting its market share, depending on the followed data distribution type for each factor, and using either the Z-distribution approach or the Chebyshev’s inequality theorem. Later on, the separate and the conditional probabilities of the states of each factor in the Bayesian network were derived, either from the collected and scrapped historical data or from estimations and past studies. Results showed that we could use the constructed model for scenario and decision analysis concerning forecasting the total percentage of the market share of the solar energy in Egypt by 2035 and using it as a stable renewable source for generating any type of energy needed. Also, it proved that whenever the use of the solar energy increases, the total costs decreases. Furthermore, we have identified different scenarios, such as the best, worst, 50/50, and most likely one, in terms of the expected changes in the percentage of the solar energy market share. The best scenario showed an 85% probability that the market share of the solar energy in Egypt will exceed 10% of the total energy market, while the worst scenario showed only a 24% probability that the market share of the solar energy in Egypt will exceed 10% of the total energy market. Furthermore, we applied policy analysis to check the effect of changing the controllable (decision) variable’s states acting as different scenarios, to show how it would affect the target nodes in the model. Additionally, the best environmental and economical scenarios were developed to show how other factors are expected to be, in order to affect the model positively. Additional evidence and derived probabilities were added for the weather dynamic nodes whose states depend on time, during the process of converting the Bayesian network into a dynamic Bayesian network.

Keywords: Bayesian network, Chebyshev, decision variable, dynamic Bayesian network, Z-distribution

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Authors: Tania Elena González Alvarado, Ma. Antonieta Martín Granados

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The aim of this paper is to explain what a multienterprise tie is, what evidence its analysis provides and how does the cooperation mechanism influence the establishment of a multienterprise tie. The study focuses on businesses of smaller dimension, geographically dispersed and whose businessmen are learning to cooperate in an international environment. The empirical evidence obtained at this moment permits to conclude the following: The tie is not long-lasting, it has an end; opportunism is an opportunity to learn; the multi-enterprise tie is a space to learn about the cooperation mechanism; the local tie permits a businessman to alternate between competition and cooperation strategies; the disappearance of a tie is an experience of learning for a businessman, diminishing the possibility of failure in the next tie; the cooperation mechanism tends to eliminate hierarchical relations; the multienterprise tie diminishes the asymmetries and permits SME-s to have a better position when they negotiate with large companies; the multi-enterprise tie impacts positively on the local system. The collection of empirical evidence was done trough the following instruments: direct observation in a business encounter to which the businesses attended in 2003 (202 Mexican agro industry SME-s), a survey applied in 2004 (129), a questionnaire applied in 2005 (86 businesses), field visits to the businesses during the period 2006-2008 and; a survey applied by telephone in 2008 (55 Mexican agro industry SME-s).

Keywords: Cooperation, multi-enterprise tie, links, networks.

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Authors: Samuel Carpintero

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Public-private partnerships (PPP) arrangements have been extensively used in Canada, where the participation of private companies in financing and managing infrastructure projects has increased significantly in the last decade, particularly in the transportation sector. This paper analyses the evolution of the PPP market for transportation projects in Canada and examines the participation of Spanish developers in this market, which have been particularly successful in winning PPP contracts during the last decade.

Keywords: PPP, concession, infrastructure, construction.

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Authors: P. Sankar, P. James Daniel Paul, Siddhant Sahu

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A brief review of the empirical studies on the methodology of the stock market decision support would indicate that they are at a threshold of validating the accuracy of the traditional and the fuzzy, artificial neural network and the decision trees. Many researchers have been attempting to compare these models using various data sets worldwide. However, the research community is on the way to the conclusive confidence in the emerged models. This paper attempts to use the automotive sector stock prices from National Stock Exchange (NSE), India and analyze them for the intra-sectorial support for stock market decisions. The study identifies the significant variables and their lags which affect the price of the stocks using OLS analysis and decision tree classifiers.

Keywords: Indian Automotive Sector, Stock Market Decisions, Equity Portfolio Analysis, Decision Tree Classifiers, Statistical Data Analysis.

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Authors: M’hamed Outanoute, Mohamed Baslam, Belaid Bouikhalene

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The customers use the best compromise criterion between price and quality of service (QoS) to select or change their Service Provider (SP). The SPs share the same market and are competing to attract more customers to gain more profit. Due to the divergence of SPs interests, we believe that this situation is a non-cooperative game of price and QoS. The game converges to an equilibrium position known Nash Equilibrium (NE). In this work, we formulate a game theoretic framework for the dynamical behaviors of SPs. We use Genetic Algorithms (GAs) to find the price and QoS strategies that maximize the profit for each SP and illustrate the corresponding strategy in NE. In order to quantify how this NE point is performant, we perform a detailed analysis of the price of anarchy induced by the NE solution. Finally, we provide an extensive numerical study to point out the importance of considering price and QoS as a joint decision parameter.

Keywords: Pricing, QoS, Market share game, Genetic algorithms, Nash equilibrium, Learning, Price of anarchy.

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Authors: H. Florianová, J. Nešleha

Abstract:

Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange, German capital market represented by Deutsche Börse and Polish capital market represented by Warsaw Stock Exchange. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand, if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation stricter usually discourages subjects to stay on the market immediately although making the regulation vaguer to interest more subjects is usually much slower process.

Keywords: Capital markets, financial derivatives, investors' behavior, regulation.

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Authors: M.A. Hosseini, P. Ebrahimi Naghani

Abstract:

In this research work, a novel parallel manipulator with high positioning and orienting rate is introduced. This mechanism has two rotational and one translational degree of freedom. Kinematics and Jacobian analysis are investigated. Moreover, workspace analysis and optimization has been performed by using genetic algorithm toolbox in Matlab software. Because of decreasing moving elements, it is expected much more better dynamic performance with respect to other counterpart mechanisms with the same degrees of freedom. In addition, using couple of cylindrical and revolute joints increased mechanism ability to have more extended workspace.

Keywords: Kinematics, Workspace, 3-CRS/PU, Parallel robot

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