Search results for: market participant

Authors: Kamal Amarouche, Houda Benbrahim, Ismail Kassou

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Nowadays, e-commerce shopping websites have experienced noticeable growth. These websites have gained consumers’ trust. After purchasing a product, many consumers share comments where opinions are usually embedded about the given product. Research on the automatic management of opinions that gives suggestions to potential consumers and portrays an image of the product to manufactures has been growing recently. After launching the product in the market, the reviews generated around it do not usually contain helpful information or generic opinions about this product (e.g. telephone: great phone...); in the sense that the product is still in the launching phase in the market. Within time, the product becomes old. Therefore, consumers perceive the advantages/ disadvantages about each specific product feature. Therefore, they will generate comments that contain their sentiments about these features. In this paper, we present an unsupervised method to extract different product features hidden in the opinions which influence its purchase, and that combines Time Weighting (TW) which depends on the time opinions were expressed with Term Frequency-Inverse Document Frequency (TF-IDF). We conduct several experiments using two different datasets about cell phones and hotels. The results show the effectiveness of our automatic feature extraction, as well as its domain independent characteristic.

Keywords: Opinion mining, product feature extraction, sentiment analysis, SentiWordNet.

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Authors: Víctor Manuel Muñoz-Sánchez, Antonio Manuel Pérez-Flores

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This paper analyzes the institutionalization of social protest in Spain. In the current crisis Podemos party seems to represent the political positions of the most affected citizens by the economic situation. It studies using quantitative techniques (statistical bivariate analysis), focusing on the exploitation of several bases of statistics data from the Center for Sociological and Research of Spanish Government, 15M movement characterization to its institutionalization in the Podemos party. Making a comparison between the participant's profile by the 15M and the social bases of Podemos votes. Data on the transformation of the socio-demographic profile of the fans, connoisseurs and 15M participants and voters are given.

Keywords: Collective action, emerging parties, political parties, social protest.

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Authors: Weihong Guo, Dan Brennan, Phil Blythe

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This paper presents the effect of driving a motor vehicle on the stress levels of older drivers, indicated by monitoring their hear rate increase whilst completing various everyday driving tasks. Results suggest that whilst older female drivers heart rate varied more significantly than males, the actual age of a participant did not result in a significant change in heart rate due to stress, within the age group tested. The analysis of the results indicates the most stressful manoeuvres undertaken by the older drivers and highlights the tasks which were found difficult with a view to implementing technologies to aid the more senior driver in automotive travel.

Keywords: Driver stress, heart rate, older driver, road safety, speeding.

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Authors: Simon Huston, Ebraheim Lahbash, Ali Parsa

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The development of the United Arab Emirates (UAE) into a regional trade, tourism, finance and logistics hub has transformed its real estate markets. However, speculative activity and price volatility remain concerns. UAE residential market values (MV) are exposed to fluctuations in capital flows and migration which, in turn, are affected by geopolitical uncertainty, oil price volatility and global investment market sentiment. Internally, a complex interplay between administrative boundaries, land tenure, building quality and evolving location characteristics fragments UAE residential property markets. In short, the UAE Residential Valuation System (UAE-RVS) confronts multiple challenges to collect, filter and analyze relevant information in complex and dynamic spatial and capital markets. A robust (RVS) can mitigate the risk of unhelpful volatility, speculative excess or investment mistakes. The research outlines the institutional, ontological, dynamic and epistemological issues at play. We highlight the importance of system capabilities, valuation standard salience and stakeholders trust.

Keywords: Valuation, property rights, information, institutions, trust, salience.

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Authors: Nicola Gualandi, Luca Mantecchini, Davide Serrau

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Airport capacity has always been perceived in the traditional sense as the number of aircraft operations during a specified time corresponding to a tolerable level of average delay and it mostly depends on the airside characteristics, on the fleet mix variability and on the ATM. The adoption of the Directive 2002/30/EC in the EU countries drives the stakeholders to conceive airport capacity in a different way though. Airport capacity in this sense is fundamentally driven by environmental criteria, and since acoustical externalities represent the most important factors, those are the ones that could pose a serious threat to the growth of airports and to aviation market itself in the short-medium term. The importance of the regional airports in the deregulated market grew fast during the last decade since they represent spokes for network carriers and a preferential destination for low-fares carriers. Not only regional airports have witnessed a fast and unexpected growth in traffic but also a fast growth in the complaints for the nuisance by the people living near those airports. In this paper the results of a study conducted in cooperation with the airport of Bologna G. Marconi are presented in order to investigate airport acoustical capacity as a defacto constraint of airport growth.

Keywords: Airport acoustical capacity, airport noise, air traffic noise, sustainability of regional airports.

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Authors: E.J. Cilliers

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Green- spaces might be very attractive, but where are the economic benefits? What value do nature and landscape have for us? What difference will it make to jobs, health and the economic strength of areas struggling with deprivation and social problems? [1].There is a need to consider green spaces from a different perspective. Green planning is not just about flora and fauna, but also about planning for economic benefits [2]. It is worth trying to quantify the value of green spaces since nature and landscape are crucially important to our quality of life and sustainable development. The reality, however, is that urban development often takes place at the expense of green spaces. Urbanization is an ongoing process throughout the world; however, hyper-urbanization without environmental planning is destructive, not constructive [3]. Urban spaces are believed to be more valuable than other land uses, particular green areas, simply because of the market value connected to urban spaces. However, attractive landscapes can help raise the quality and value of the urban market even more. In order to reach these objectives of integrated planning, the Green-Value-Gap needs to be bridged. Economists have to understand the concept of Green-Planning and the spinoffs, and Environmentalists have to understand the importance of urban economic development and the benefits thereof to green planning. An interface between Environmental Management, Economic Development and sustainable Spatial Planning are needed to bridge the Green-Value-Gap.

Keywords: Spatial Planning, Environmental Management, Green-Value-Gap, Compensation, Participation.

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Authors: Tea Poklepović, Zdravka Aljinović, Branka Marasović

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Due to the importance of yield curve and its estimation it is inevitable to have valid methods for yield curve forecasting in cases when there are scarce issues of securities and/or week trade on a secondary market. Therefore in this paper, after the estimation of weekly yield curves on Croatian financial market from October 2011 to August 2012 using Nelson-Siegel and Svensson models, yield curves are forecasted using Vector autoregressive model and Neural networks. In general, it can be concluded that both forecasting methods have good prediction abilities where forecasting of yield curves based on Nelson Siegel estimation model give better results in sense of lower Mean Squared Error than forecasting based on Svensson model Also, in this case Neural networks provide slightly better results. Finally, it can be concluded that most appropriate way of yield curve prediction is Neural networks using Nelson-Siegel estimation of yield curves.

Keywords: Nelson-Siegel model, Neural networks, Svensson model, Vector autoregressive model, Yield curve.

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Authors: Geoffrey J. Blanford, Christoph Weissbart

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The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO₂-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European decarbonization pathway, power market investment, public policies, technology choice.

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Authors: Valene J. Gresham, MA, Laura A. Brodie

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For the last decade, statistics show traumatic brain injury (TBI) is a growing concern in our legal system. In an effort to obtain data regarding the influence of neuropsychological expert witness testimony in a criminal case, this study tested three hypotheses. H1: The majority of jurors will vote not guilty, due to mild head injury. H2: The jurors will give more credence to the testimony of the neuropsychologist rather than the psychiatrist. H3: The jurors will be more lenient in their sentencing, given the testimony of the neuropsychologist-s testimony. The criterion for inclusion in the study as a participant is identical to those used for inclusion in the eligibility for jury duty in the United States. A chisquared test was performed to analyze the data for the three hypotheses. The results supported all of the hypotheses; however statistical significance was seen in H1 and H2 only.

Keywords: Expert witness, jury decision, neuropsychology, traumatic brain injury.

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Authors: Bundit Pungnirund

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The objective of this research was to study the influence of marketing mix on customers purchasing behavior. A total of 397 respondents were collected from customers who were the patronages of the Chatuchak Plaza market. A questionnaire was utilized as a tool to collect data. Statistics utilized in this research included frequency, percentage, mean, standard deviation, and multiple regression analysis. Data were analyzed by using Statistical Package for the Social Sciences. The findings revealed that the majority of respondents were male with the age between 25-34 years old, hold undergraduate degree, married and stay together. The average income of respondents was between 10,001-20,000 baht. In terms of occupation, the majority worked for private companies. The research analysis disclosed that there were three variables of marketing mix which included price (X2), place (X3), and product (X1) which had an influence on the frequency of customer purchasing. These three variables can predict a purchase about 30 percent of the time by using the equation; Y1 = 6.851 + .921(X2) + .949(X3) + .591(X1). It also found that in terms of marketing mixed, there were two variables had an influence on the amount of customer purchasing which were physical characteristic (X6), and the process (X7). These two variables are 17 percent predictive of a purchasing by using the equation: Y2 = 2276.88 + 2980.97(X6) + 2188.09(X7).

Keywords: Influences, Marketing Mixed, Purchasing Behavior.

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Authors: Josefina Bengoechea, Alex Bell

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In the metaverse, the characters were avatars working in a 3-dimensional virtual reality. This virtual reality existed beyond reality. The metaverse is a “the post-reality universe”; a perpetual and persistent multiuser environment in which physical reality and digital virtuality are merged. The virtual infrastructure needed to build a metaverse (which is in the process of being created), are: web3 technologies, non-fungible tokens (NFTs), blockchain, smart contracts, and cryptocurrencies. Web3 refers to a new iteration of the actual web2. The actual web2 is dominated by powerful providers like Google, Apple, Amazon, and other corporate tech companies. The vision for web3 is a decentralized, and thus more equitable version of the web. The aim of this paper is, first, to present the Metaverse as a form of reality in which physical reality and digital virtuality combined to provide new experiences to users; second, to discuss the implications for education, specifically for higher education, and how programs will have to be modified so that the skills obtained by graduates match those demanded by the virtual labour market. This paper builds upon a constructivist approach, combining a literature review and research on key publications.

Keywords: Ethics in technology, cross realities, cryptocurrencies, labour market, metaverse, technology in higher education.

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Authors: Sinee Sankrusme

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The study was a case study analysis about Thai Asia Pacific Brewery Company. The purpose was to analyze the company’s marketing objective, marketing strategy at company level, and marketing mix before liquor liberalization in 2000. Methods used in this study were qualitative and descriptive research approach which demonstrated the following results of the study demonstrated as follows: (1) Marketing objective was to increase market share of Heineken and Amtel, (2) the company’s marketing strategies were brand building strategy and distribution strategy. Additionally, the company also conducted marketing mix strategy as follows. Product strategy: The company added more beer brands namely Amstel and Tiger to provide additional choice to consumers, product and marketing research, and product development. Price strategy: the company had taken the following into consideration: cost, competitor, market, economic situation and tax. Promotion strategy: the company conducted sales promotion and advertising. Distribution strategy: the company extended channels its channels of distribution into food shops, pubs and various entertainment places. This strategy benefited interested persons and people who were engaged in the beer business.

Keywords: Marketing Strategy, Beer, Thai Asia Pacific Brewery Company.

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Authors: Kayun Chantarasathaporn, Chonawat Srisa-an

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Low power consumption is a major constraint for battery-powered system like computer notebook or PDA. In the past, specialists usually designed both specific optimized equipments and codes to relief this concern. Doing like this could work for quite a long time, however, in this era, there is another significant restraint, the time to market. To be able to serve along the power constraint while can launch products in shorter production period, objectoriented programming (OOP) has stepped in to this field. Though everyone knows that OOP has quite much more overhead than assembly and procedural languages, development trend still heads to this new world, which contradicts with the target of low power consumption. Most of the prior power related software researches reported that OOP consumed much resource, however, as industry had to accept it due to business reasons, up to now, no papers yet had mentioned about how to choose the best OOP practice in this power limited boundary. This article is the pioneer that tries to specify and propose the optimized strategy in writing OOP software under energy concerned environment, based on quantitative real results. The language chosen for studying is C# based on .NET Framework 2.0 which is one of the trendy OOP development environments. The recommendation gotten from this research would be a good roadmap that can help developers in coding that well balances between time to market and time of battery.

Keywords: Low power consumption, object oriented programming, power conscious system, software.

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Authors: Iruka C. Anugwo, Winston M. Shakantu

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The objective of this study is to uncover the basic business-forces that necessitated the survival and sustainable performance of the medium scale contractors in the South African construction market. This study is essential as it set to contribute towards long-term strategic solutions for combating the incessant failure of start-ups construction organizations within South African. The study used a qualitative research methodology; as the most appropriate approach to elicit and understand, and uncover the phenomena that are basic business-forces for the active contractors in the market. The study also adopted a phenomenological study approach; and in-depth interviews were conducted with 20 medium scale contractors in Port Elizabeth, South Africa, between months of August to October 2015. This allowed for an in-depth understanding of the critical and basic business-forces that influenced their survival and performance beyond the first five years of business operation. Findings of the study showed that for potential contractors (startups), to survival in the competitive business environment such as construction industry, they must possess the basic business-forces. These forces are educational knowledge in construction and business management related disciplines, adequate industrial experiences, competencies and capabilities to delivery excellent services and products as well as embracing the spirit of entrepreneurship. Convincingly, it can be concluded that the strategic approach to minimize the endless failure of startups construction businesses; the potential construction contractors must endeavoring to access and acquire the basic educationally knowledge, training and qualification; need to acquire industrial experiences in collaboration with required competencies, capabilities and entrepreneurship acumen. Without these basic business-forces as been discovered in this study, the majority of the contractors gaining entrance in the market will find it difficult to develop and grow a competitive and sustainable construction organization in South Africa.

Keywords: Basic business-forces, medium scale contractors, South Africa, sustainable organisations.

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Authors: Nazym Shedenova, Aigul Beimisheva

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The market transformation in Kazakhstan during the last two decades has essentially strengthened a gap between development of urban and rural areas. Implementation of market institutes, transition from public financing to paid rendering of social services, change of forms of financing of social and economic infrastructure have led to strengthening of an economic inequality of social groups, including growth of stratification of the city and the village. Sociological survey of urban and rural households in Almaty city and villages of Almaty region has been carried out within the international research project “Livelihoods Strategies of Private Households in Central Asia: A Rural–Urban Comparison in Kazakhstan and Kyrgyzstan" (Germany, Kazakhstan, Kyrgyzstan). The analysis of statistical data and results of sociological research of urban and rural households allows us to reveal issues of territorial development, to investigate an availability of medical, educational and other services in the city and the village, to reveal an evaluation urban and rural dwellers of living conditions, to compare economic strategies of households in the city and the village.

Keywords: Urban and rural households, social and economic infrastructure, territorial availability.

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Authors: YasirSalih, AamirSaeed Malik, Wazirahbt.Md-Esa

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In the recent years, high dynamic range imaging has gain popularity with the advancement in digital photography. In this contribution we present a subjective evaluation of various tone production and tone mapping techniques by a number of participants. Firstly, standard HDR images were used and the participants were asked to rate them based on a given rating scheme. After that, the participant was asked to rate HDR image generated using linear and nonlinear combination approach of multiple exposure images. The experimental results showed that linearly generated HDR images have better visualization than the nonlinear combined ones. In addition, Reinhard et al. and the exponential tone mapping operators have shown better results compared to logarithmic and the Garrett et al. tone mapping operators.

Keywords: tone mapping, high dynamic range, low dynamic range, bits per pixel.

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Authors: Abdulmohsen A. AlBesher, Richard T. Stone

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Star rating for mobile applications is a very useful way to differentiate between the best and worst rated applications. However, the question is whether the rating reflects the level of usability or not. The aim of this paper is to find out if the user’ star ratings on mobile apps correlate with the usability of those apps. Thus, we tested three mobile apps, which have different star ratings: low, medium, and high. Participating in the study, 15 mobile phone users were asked to do one single task for each of the three tested apps. After each task, the participant evaluated the app by answering a survey based on the System Usability Scale (SUS). The results found that there is no major correlation between the star rating and the usability. However, it was found that the task completion time and the numbers of errors that may happen while completing the task were significantly correlated to the usability.

Keywords: Mobile applications, SUS, Star rating, Usability.

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Authors: A. Kablan

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The prediction of financial time series is a very complicated process. If the efficient market hypothesis holds, then the predictability of most financial time series would be a rather controversial issue, due to the fact that the current price contains already all available information in the market. This paper extends the Adaptive Neuro Fuzzy Inference System for High Frequency Trading which is an expert system that is capable of using fuzzy reasoning combined with the pattern recognition capability of neural networks to be used in financial forecasting and trading in high frequency. However, in order to eliminate unnecessary input in the training phase a new event based volatility model was proposed. Taking volatility and the scaling laws of financial time series into consideration has brought about the development of the Intraday Seasonality Observation Model. This new model allows the observation of specific events and seasonalities in data and subsequently removes any unnecessary data. This new event based volatility model provides the ANFIS system with more accurate input and has increased the overall performance of the system.

Keywords: Adaptive Neuro-fuzzy Inference system, High Frequency Trading, Intraday Seasonality Observation Model.

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Authors: P. Hedbávný, M. Kalichová

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The contribution deals with problem of take-off phase of back somersault with twisting with various numbers of twists along longitudinal body axis. The aim was to evaluate the changes in angles during transition phase from back handspring to back somersault using 3D kinematic analysis of the somersaults. We used Simi Motion System for the 3D kinematic analysis of the observed gymnastic element performed by Czech Republic female representative and 2008 Summer Olympic Games participant. The results showed that the higher the number of twists, the smaller the touchdown angle in which the gymnasts lands on the pad in the beginning of take-off phase. In back somersault with one twist (180°) the average angle is 54°, in 1080° back somersault the average angle is 45.9°. These results may help to improve technical training of sports gymnasts.

Keywords: back somersault with twisting, biomechanicalanalysis, take-off

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Authors: Zahra Hatami, Hesham Ali, David Volkman

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Selecting a portfolio for investing is a crucial decision for individuals and legal entities. In the last two decades, with economic globalization, a stream of financial innovations has rushed to the aid of financial institutions. The importance of selecting stocks for the portfolio is always a challenging task for investors. This study aims to create a financial network to identify optimal portfolios using network centralities metrics. This research presents a community detection technique of superior stocks that can be described as an optimal stock portfolio to be used by investors. By using the advantages of a network and its property in extracted communities, a group of stocks was selected for each of the various time periods. The performance of the optimal portfolios was compared to the famous index. Their Sharpe ratio was calculated in a timely manner to evaluate their profit for making decisions. The analysis shows that the selected potential portfolio from stocks with low centrality measurement can outperform the market; however, they have a lower Sharpe ratio than stocks with high centrality scores. In other words, stocks with low centralities could outperform the S&P500 yet have a lower Sharpe ratio than high central stocks.

Keywords: Portfolio management performance, network analysis, centrality measurements, Sharpe ratio.

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Authors: Marzena Świgoń

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Nowadays, graduates should be prepared for serious challenges in the internal and external labor market. The notion that a degree is a “passport to employment” has been relegated to the past. In the last few years a phenomenon in the form of the increasing unemployment of highly educated young people in EU countries, including Poland has been observed. Empirical studies were conducted among Polish students in the scope of the so-called self-perceived employability review. In this study, a special scale was used which consisted of 19 statements regarding five components: student’s perception of university; field of study; self-belief; state of the external labor market; and, personal knowledge management. The respondent group consisted of final-year master’s students of International Relations at the University of Warmia and Mazury in Olsztyn, Poland. The findings of the empirical studies were compiled using statistical methods: descriptive statistics and inferential statistics. In general, in light of the conducted studies, the self-perceived employability of the Polish students was not high. Limitations of the studies were discussed, as well as the implications for future research in the scope of the students’ employability.

Keywords: Self-perceived employability, students of international relations, university education.

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Authors: M. K. Zholdassova, G. Matthews, A. M. Kustubayeva, S. M. Jakupov

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The aim of this study was to test whether the Attention Networks Test (ANT) showed temporal decrements in performance. Vigilance tasks typically show such decrements, which may reflect impairments in executive control resulting from cognitive fatigue. The ANT assesses executive control, as well as alerting and orienting. Thus, it was hypothesized that ANT executive control would deteriorate over time. Manipulations including task condition (trial composition) and masking were included in the experimental design in an attempt to increase performance decrements. However, results showed that there is no temporal decrement on the ANT. The roles of task demands, cognitive fatigue and participant motivation in producing this result are discussed. The ANT may not be an effective tool for investigating temporal decrement in attention.

Keywords: ANT, executive control, task engagement, vigilancedecrement

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Authors: Cristian Păuna

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In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonomous trading software is today a considerable part in the business intelligence system of any modern financial activity. The trading decisions and orders are made automatically by computers using different mathematical models. This paper will present one of these models called Price Prediction Line. A mathematical algorithm will be revealed to build a reliable trend line, which is the base for limit conditions and automated investment signals, the core for a computerized investment system. The paper will guide how to apply these tools to generate entry and exit investment signals, limit conditions to build a mathematical filter for the investment opportunities, and the methodology to integrate all of these in automated investment software. The paper will also present trading results obtained for the leading German financial market index with the presented methods to analyze and to compare different automated investment algorithms. It was found that a specific mathematical algorithm can be optimized and integrated into an automated trading system with good and sustained results for the leading German Market. Investment results will be compared in order to qualify the presented model. In conclusion, a 1:6.12 risk was obtained to reward ratio applying the trigonometric method to the DAX Deutscher Aktienindex on 24 months investment. These results are superior to those obtained with other similar models as this paper reveal. The general idea sustained by this paper is that the Price Prediction Line model presented is a reliable capital investment methodology that can be successfully applied to build an automated investment system with excellent results.

Keywords: Algorithmic trading, automated investment system, DAX Deutscher Aktienindex.

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Authors: Hicham Benamirouche, Oum Elkheir Moussi

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The purpose of the study is to examine the dynamics of Algeria’s natural gas exports through the Autoregressive Distributed Lag (ARDL) bounds testing approach with break points. The analysis was carried out for the period from 1967 to 2015. Based on imperfect substitution specification, the ARDL approach reveals a long-run equilibrium relationship between Algeria’s Natural gas exports and their determinant factors (Algeria’s gas reserves, Domestic gas consumption, Europe’s GDP per capita, relative prices, the European gas production and the market share of competitors). All the long-run elasticities estimated are statistically significant with a large impact of domestic factors, which constitute the supply constraints. In short term, the elasticities are statistically significant, and almost comparable to those of the long term. Furthermore, the speed of adjustment towards long-run equilibrium is less than one year because of the little flexibility of the long term export contracts. Two break points have been estimated when we employ the domestic gas consumption as a break variable; 1984 and 2010, which reflect the arbitration policy between the domestic gas market and gas exports.

Keywords: Natural gas exports, elasticity, ARDL bounds testing, break points, Algeria.

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Authors: Benazeer Md. Shahzada, Verelst Jan, Van Grembergen Wim, Mannaert Herwig

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This article is an extension and a practical application approach of Wheeler-s NEBIC theory (Net Enabled Business Innovation Cycle). NEBIC theory is a new approach in IS research and can be used for dynamic environment related to new technology. Firms can follow the market changes rapidly with support of the IT resources. Flexible firms adapt their market strategies, and respond more quickly to customers changing behaviors. When every leading firm in an industry has access to the same IT resources, the way that these IT resources are managed will determine the competitive advantages or disadvantages of firm. From Dynamic Capabilities Perspective and from newly introduced NEBIC theory by Wheeler, we know that only IT resources cannot deliver customer value but good configuration of those resources can guarantee customer value by choosing the right emerging technology, grasping the economic opportunities through business innovation and growth. We found evidences in literature that SOA (Service Oriented Architecture) is a promising emerging technology which can deliver the desired economic opportunity through modularity, flexibility and loosecoupling. SOA can also help firms to connect in network which can open a new window of opportunity to collaborate in innovation and right kind of outsourcing

Keywords: Absorptive capacity, Dynamic Capability, Netenabled business innovation cycle, Service oriented architecture.

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Authors: Jung-Lo Park, Sung-Sik Kim, Sun-Young Choi, Ju-Hyung Kim, Jae-Jun Kim

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Sub-prime mortgage crisis which began in the US is regarded as the most economic crisis since the Great Depression in the early 20th century. Especially, hidden problems on efficient operation of a business were disclosed at a time and many financial institutions went bankrupt and filed for court receivership. The collapses of physical market lead to bankruptcy of manufacturing and construction businesses. This study is to analyze dynamic efficiency of construction businesses during the five years at the turn of the global financial crisis. By discovering the trend and stability of efficiency of a construction business, this study-s objective is to improve management efficiency of a construction business in the ever-changing construction market. Variables were selected by analyzing corporate information on top 20 construction businesses in Korea and analyzed for static efficiency in 2008 and dynamic efficiency between 2006 and 2010. Unlike other studies, this study succeeded in deducing efficiency trend and stability of a construction business for five years by using the DEA/Window model. Using the analysis result, efficient and inefficient companies could be figured out. In addition, relative efficiency among DMU was measured by comparing the relationship between input and output variables of construction businesses. This study can be used as a literature to improve management efficiency for companies with low efficiency based on efficiency analysis of construction businesses.

Keywords: Construction Company, DEA, DEA/Window, Efficiency Analysis

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Authors: Joanna Stawska

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

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

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Authors: Nareenad Panbun

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The objective is to study the knowledge utilization from the participants of the announcer training program by National Broadcasting and Telecommunications Commission (NBTC). This study is a quantitative research based on surveys and self-answering questionnaires. The population of this study is 100 participants randomly chosen by non-probability sampling method. The results have shown that most of the participants were satisfied with the topics of general knowledge about the broadcasting and television business for 37 people representing 37%, followed by the topics of broadcasting techniques. The legal issues, consumer rights, television business ethics, and credibility of the media are, in addition to the media's role and responsibilities in society, the use of language for successful communication. Therefore, the communication language skills are the most important for all of the trainees and will also build up the image of the broadcasting center.

Keywords: Announcer training program, participant, requirements announced, theory of utilization.

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Authors: Miho Tsukamoto

Abstract:

Since the initial creation of the Barbie doll in 1959, it became a symbol of US society. Likewise, the Licca-chan, a Japanese doll created in 1967, also became a Japanese symbolic doll of Japanese society. Prior to the introduction of Licca-chan, Barbie was already marketed in Japan but their sales were dismal. Licca-chan (an actual name: Kayama Licca) is a plastic doll with a variety of sizes ranging from 21.0 cm to 29.0 cm which many Japanese girls dream of having. For over 35 years, the manufacturer, Takara Co., Ltd. has sold over 48 million dolls and has produced doll houses, accessories, clothes, and Licca-chan video games for the Nintendo DS. Many First-generation Licca-chan consumers still are enamored with Licca-chan, and go to Licca-chan House, in an amusement park with their daughters. These people are called Licca-chan maniacs, as they enjoy touring the Licca-chan’s factory in Tohoku or purchase various Licca-chan accessories. After the successful launch of Licca-chan into the Japanese market, a mixed-like doll from the US and Japan, a doll, JeNny, was later sold in the same Japanese market by Takara Co., Ltd. in 1982. Comparison of these cultural iconic dolls, Barbie and Licca-chan, are analyzed in this paper. In fact, these dolls have concepts of girls’ dreams. By using concepts of mythology of Jean Baudrillard, these dolls can be represented idealized images of figures in the products for consumers, but at the same time, consumers can see products with different perspectives, which can cause controversy.

Keywords: Barbie, Dolls, JeNny, Idealization, Licca-chan.

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Authors: Edward Pol

Abstract:

All companies are confronted with the need to innovate in order to meet market demands. In so doing they are challenged with the dilemma of whether to aim to be first into the market with a new innovative product, or to deliberately wait and learn from a pioneers’ mistakes; potentially avoiding higher risks. It is therefore important to critically understand from a first mover advantage and disadvantage perspective the decision-making implications of defence industry transformation onset by an innovative paradigm shift. This paper will argue that the type of industry characteristics matter, especially when considering what role the clients play in the innovation process and what their level of influence is. Through investigation of qualitative case study research, this inquiry will focus on first mover advantages and first mover disadvantages with a view to establish practical and value-added academic findings by focusing on specific industries where the clients play an active role in cooperation with the supplier innovation. The resulting findings will help managers to mitigate risk in innovative technology introduction. A selection from several defence industry innovations is specifically chosen because of the client–supplier relationship that typically differs from traditional first mover research. In this instance, case studies will be used referencing vertical-take-off-and-landing defence equipment innovations. 

Keywords: innovation, pioneer, first mover advantage, first mover disadvantage, risk

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