Search results for: private bond market.

Authors: Manal Rauf

Abstract:

Trained medical practitioners are produced from medical colleges serving in public and private sectors. Prime responsibility of teaching faculty is to inculcate required work ethic among the students by serving as role models for them. It is an observed fact that classroom incivility behaviours are providing a friction in achieving these targets. Present study aimed at identification of classroom incivility behaviours observed by teachers and students of public and private medical colleges as per Glasser’s Choice Theory, making a comparison and investigating the strategies being adopted by teachers of both sectors to control undesired class room behaviours. Findings revealed that a significant difference occurs between teacher and student incivility behaviours. Public sector teacher focussed on survival as a strong factor behind in civil behaviours whereas private sector teachers considered power as the precedent for incivility. Teachers of both sectors are required to use verbal as well as non-verbal immediacy to reach a healthy leaning environment.

Keywords: Classroom incivility behaviour, Glasser choice theory, Mehrabian immediacy theory, medical student.

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Authors: Samuel Capintero, Ole H. Petersen

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This paper examines the utilization of public-private partnerships for the building and operation of wastewater treatment plants. Our research focuses on risk allocation in this kind of projects. Our analysis builds on more than hundred wastewater treatment plants built and operated through PPP projects in Aragon (Spain). The paper illustrates the consequences of an inadequate management of construction risk and an unsuitable transfer of demand risk in wastewater treatment plants. It also shows that the involvement of many public bodies at local, regional and national level further increases the complexity of this kind of projects and make time delays more likely.

Keywords: Wastewater, treatment plants, PPP, construction.

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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: Margareta Ilkova, Petr Teply

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The article deals with dividends and their distribution from investors from a theoretical point of view. Some studies try to analyzed the reaction of the market on the dividend announcement and found out the change of dividend policy is associated with abnormal returns around the dividend announcement date. Another researches directly questioned the investors about their dividend preference and beliefs. Investors want the dividend from many reasons (e.g. some of them explain the dividend preference by the existence of transaction cost; investors prefer the dividend today, because there is less risky; the managers have private information about the firm). The most controversial theory of dividend policy was developed by Modigliani and Miller (1961) who demonstrated that in the perfect and complete capital markets the dividend policy is irrelevant and the value of the company is independent of its payout policy. Nevertheless, in the real world the capital markets are imperfect, because of asymmetric information, transaction costs, incomplete contracting possibilities and taxes.

Keywords: dividend distribution, taxation, payout policy, investor, Modigliani and Miller theorem

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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: Sawsan J. Al-Husseini

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Transformational leadership (TL) has been found to have an important influence on knowledge and knowledge management (KM). It can contribute to organizational learning, employees’ creativity, encourage followers to participate in educational programs and develop the skills needed to achieve exceptional performance. This research sought to examine the impact of TL on knowledge donating and collecting and the differences between these impacts in public and private higher education institutes (HEIs) in Iraq. A mixed method approach was taken and 580 valid responses were collected to test the causal relationships between the factors, then 12 interviews were conducted with the leaders of HEIs to give more insight of the findings from quantitative stage. Employing structural equation modelling with AMOS v.24, the research found that TL would be ideal in an educational context, promoting knowledge sharing activities in both sectors. The interviews revealed differences between public and private HEIs in terms of the effects relationships. Guidelines are developed for academics as well as leaders and provided evidence to support the use of TL to encourage knowledge sharing activities within higher education in developing countries particularly Iraq.

Keywords: Transformational leadership, knowledge sharing, higher education, multi-groups.

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Authors: B. E. Weber, N. Vrielink, M. G. Rietbergen

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This paper explores the long-term effects of the Energy Box trajectory on households in the private rental sector, specifically households experiencing energy poverty. The concept of energy poverty has been getting increasing attention among policymakers over the past few years. In the Netherlands, as far as we know, there are no national policies on alleviating energy poverty, which negatively impacts energy-poor households. The Energy Box can help households experiencing energy poverty by stimulating them to improve the energy efficiency of their home by changing their energy-saving behavior. Important long-term effects are that respondents indicate that they live in a more environmentally friendly way and that they save money on their energy bills. Households feel engaged with the concept of energy-saving and can see the benefits of changing their energy-saving behavior. Respondents perceived the Energy Box as a means to live more environmentally friendly, instead of it solely being a means to save money on energy bills. The findings show that most respondents signed up for the Energy Box are interested in energy-saving as a lifestyle choice instead of a financial choice, which would likely be the case for households experiencing energy poverty.

Keywords: Energy-saving behavior, energy poverty, poverty, private rental sector.

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Authors: Behnaz Shahrokh, Garnik N. Sargsyan, Arkadi B. Harutyunyan

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Investigations of the unimolecular decomposition of vinyl ethyl ether (VEE), vinyl propyl ether (VPE) and vinyl butyl ether (VBE) have shown that activation of the molecule of a ether results in formation of a cyclic construction - the transition state (TS), which may lead to the displacement of the thermodynamic equilibrium towards the reaction products. The TS is obtained by applying energy minimization relative to the ground state of an ether under the program MM2 when taking into account the hydrogen bond formation between a hydrogen atom of alkyl residue and the extreme atom of carbon of the vinyl group. The dissociation of TS up to the products is studied by energy minimization procedure using the mathematical program Gaussian. The obtained calculation data for VEE testify that the decomposition of this ether may be conditioned by hydrogen bond formation for two possible versions: when α- or β- hydrogen atoms of the ethyl group are bound to carbon atom of the vinyl group. Applying the same calculation methods to other ethers (VPE and VBE) it is shown that only in the case of hydrogen bonding between α-hydrogen atom of the alkyl residue and the extreme atom of carbon of the vinyl group (αH---C) results in decay of theses ethers.

Keywords: Gaussian, MM2, ethers, TS, decomposition

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Authors: A. Qayed Al-Emadi, C. Schwabenland, B. Czarnecka

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In 2009, the new HRM policy was implemented in Qatar for public sector organisations. The purpose of this research is to examine how Qatar’s 2009 HRM policy was significant in influencing employee retention in public organisations. The conducted study utilised quantitative methodology to analyse the data on employees’ perceptions of such HRM practices as Performance Management, Rewards and Promotion, Training and Development associated with the HRM policy in public organisations in comparison to semi-private organisations. Employees of seven public and semi-private organisations filled in the questionnaire based on the 5-point Likert scale to present quantitative results. The data was analysed with the correlation and multiple regression statistical analyses. It was found that Performance Management had the relationship with Employee Retention, and Rewards and Promotion influenced Job Satisfaction in public organisations. Relationship between Job Satisfaction and Employee Retention was also observed. However, no significant differences were observed in the role of HRM practices in public and semi-private organisations.

Keywords: Performance management, rewards, promotion, training and development, job satisfaction, employee retention, SHRM, configurationally perspective.

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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: Japhet N. Mwambusi

Abstract:

High tropical forests deforestation for solid wood furniture industry is among of climate change contributing agents. This pressure indirectly is caused by furniture joints failure due to poor gluing technology based on improper use of different glues to different wood species which lead to low quality and weak wood-glue joints. This study was carried in order to run performance tests of wood glues on different wood species used in wood workshops: Morogoro Tanzania whereby three popular wood species of C. lusitanica, T. glandis and E. maidenii were tested against five glues of Woodfix, Bullbond, Ponal, Fevicol and Coral found in the market. The findings were necessary on developing a guideline for proper glue selection for a particular wood species joining. Random sampling was employed to interview carpenters while conducting a survey on the background of carpenters like their education level and to determine factors that influence their glues choice. Monsanto Tensiometer was used to determine bonding strength of identified wood glues to different wood species in use under British Standard of testing wood shear strength (BS EN 205) procedures. Data obtained from interviewing carpenters were analyzed through Statistical Package of Social Science software (SPSS) to allow the comparison of different data while laboratory data were compiled, related and compared by the use of MS Excel worksheet software as well as Analysis of Variance (ANOVA). Results revealed that among all five wood glues tested in the laboratory to three different wood species, Coral performed much better with the average shear strength 4.18 N/mm², 3.23 N/mm² and 5.42 N/mm² for Cypress, Teak and Eucalyptus respectively. This displays that for a strong joint to be formed to all tree wood species for soft wood and hard wood, Coral has a first priority in use. The developed table of guideline from this research can be useful to carpenters on proper glue selection to a particular wood species so as to meet glue-bond strength. This will secure furniture market as well as reduce pressure to the forests for furniture production because of the strong existing furniture due to their strong joints. Indeed, this can be a good strategy on reducing climate change speed in tropics which result from high deforestation of trees for furniture production.

Keywords: Climate change, deforestation, gluing technology, joint failure, wood-glue, wood species.

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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: Vasudev Das

Abstract:

The specific problem is that private and public organizational leaders often do not understand the importance of sonic therapeutic intervention in preventing financial fraud. The study aimed to explore sonic therapeutic intervention practitioners' lived experiences regarding the value of sonic therapeutic intervention in preventing financial fraud. The data collection methods were semi-structured interviews of purposeful samples and documentary reviews, which were analyzed thematically. Four themes emerged from the analysis of interview transcription data: Sonic therapeutic intervention enabled self-control, pro-spiritual values, consequentiality mindset, and post-conventional consciousness. The itemized four themes helped non-engagement in financial fraud. Implications for positive social change include enhanced financial fraud management, more significant financial leadership, and result-oriented decision-taking in the financial market. Also, the study results can improve the increased de-escalation of anxiety/stress associated with defrauding.

Keywords: consciousness, consequentiality, rehabilitation, reintegration

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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: Simeon Karafolas, Maciej Woźniak

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Guarantee schemes have been introduced in the economic and financial system as response to difficulties of SMEs for the access to the banking credit. Guarantee companies first appeared at the 19e century. Last wave of the development of those schemes appeared at the decade of 1990’s in particular to the new countries members of the EU. Guarantee schemes are presented as public owned guarantee companies, private ones mainly through a mutual form, but also under a mixed form. The paper based on guarantee schemes of five countries tries to investigate the differences that can exist within different guarantee companies. This investigation is based on some indicators that are time of response to the demand of guarantee, threshold of guarantee, acceptance of applications for guarantee, jobs created or saved and bureaucratic issues. It appears that guarantee companies have not the same reaction to the demand of SMEs and some of them are much more active.

Keywords: DIFASS, Guarantees, Loans.

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Authors: H. Florianová, J. Nešleha

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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: Robert Grzeszczak, Magdalena Gniadzik

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The article deals with one of the most significant issues concerning the functioning of the internal market of the European Union – the free movement of workers and free movement of persons. The purpose is to identify the political and legal effects of the “renationalisation process” on the EU and its Member States. The concept of renationalisation is expressed through Member States’ aim to verify the relationship with the EU. The tendency is more visible in the public opinion of several MS’s of the ‘EU core’ and may be confirmed by the changes applied by the regulatory body. The thesis for the article is the return of renationalisation tendencies in the area of the Single Market, which is supported by, among others, an open criticism of the foundations of EU integration or considerations on withdrawal from the EU by some MS. This analysis will focus primarily on the effects that renationalisation may have on the free movement of persons. The free movement of persons is one of the key issues for the development of the European integration. It is still subject to theoretical reflections, new doubts and practical issues. The latest developments in politics, law and jurisprudence demonstrate the need to reflect on the attempts to redefine certain principles regarding migrant EU workers and their protection against nationality-based discrimination.

Keywords: European law, European Union, common market, free movement of workers, posting of workers, case law.

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Authors: Prashant Kumar Tiwari, Yog Raj Sood

Abstract:

This paper proposes an investment cost recovery based efficient and fast sequential optimization approach to optimal allocation of thyristor controlled series compensator (TCSC) in competitive power market. The optimization technique has been used with an objective to maximizing the social welfare and minimizing the device installation cost by suitable location and rating of TCSC in the system. The effectiveness of proposed approach for location of TCSC has been compared with some existing methods of TCSC placement, in terms of its impact on social welfare, TCSC investment recovery and optimal generation as well as load patterns. The results have been obtained on modified IEEE 14-bus system.

Keywords: Double auction market, Investment cost recovery, Optimal location, Social welfare, TCSC

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Authors: Zh. Nurbekova, Z. Zhanazarova, A. Beissenova

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This article is devoted to the analysis of results of sociological researches carried out by authors directed on studying of opinion of representatives of small, medium and big business on formation of the Customs Union, Common Free Market Zone with participation of Kazakhstan, Russia and Belarus. It-s forecasted that companies, their branches will interpenetrate with registration and moving their businesses to regions with more beneficial conditions. They say that in Kazakhstan there are more profitable geo-strategic operating environment for business and lower taxes. Russia using this opportunity will create new conditions for expansion into other countries of Central Asia and China. Opinions of participants of questionnaire and expert poll different in estimation of value of these two integration mechanisms since market segments on the one hand extend, but also on the other hand - loss of exclusive influence in certain fields of activity.

Keywords: Customs Union, Kazakhstan, sociological research.

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Authors: Mingook Lee, Sungjoo Lee

Abstract:

As technology-based service industries grow drastically worldwide; companies are recognizing the importance of market preoccupancy and have made an effort to capture a large market to gain the upper hand. To this end, a focus on patents can be used to determine the properties of a technology, as well as to capture advantages in technical skills, in comparison with the firm’s competitors. However, technology-based services largely depend not only on their technological value but also their economic value, due to the recognized worth that is passed to a plurality of users. Thus, it is important to determine whether there are any competitors in the target areas and what services they provide in any field. Despite this importance, little effort has been made to systematically benchmark competitors in order to identify business opportunities. Thus, this study aims to not only identify each position of technology-centered service companies in complex market dynamics, but also to discover new business opportunities. For this, we try to consider both technology and market environments simultaneously by utilizing patent data as a representative proxy for technology and trademark dates as an index for a firm’s target goods and services. Theoretically, this is one of the earliest attempts to combine patent data and trademark data to analyze corporate strategies. In practice, the research results are expected to be used as a decision criterion to diagnose the economic value that companies can obtain by entering the market, as well as the technological value to be passed onto their customers. Thus, the proposed approach can be useful to support effective technology and business strategies in a firm.

Keywords: Business opportunity, patent, Portfolio analysis, trademark.

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Authors: Syeda Maria Ali Shah, Asif Mansoor, Talat Sharafat Rehmani, Safia Mirza

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The stock market of any country acts as a predictor of the economy. The spread of the COVID-19 pandemic has severely impacted the global financial markets. Besides, it has also critically affected the economy of Pakistan. In this study, we consider the role of the Karachi Stock Exchange (KSE) with regard to the Pakistan Stock Exchange and quantify the impact on macroeconomic variables in presence of COVID-19. The suitable macroeconomic variables are used to quantify the impact of COVID-19 by developing the stochastic model. The sufficiency of the computed model is attained by means of available techniques in the literature. The estimated equations are used to forecast the impact of pandemic on macroeconomic variables. The constructed model can help the policymakers take counteractive measures for restricting the influence of viruses on the Karachi Stock Market.

Keywords: COVID-19, Karachi Stock Market, macroeconomic variables, stochastic model, forecasting.

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Authors: Kristýna Pokorná, Petr Teplý

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

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

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Authors: Mihai Gheorghe

Abstract:

Freelancing in IT has seen an increased popularity during the last years mainly because of the fast Internet adoption in the countries with emerging economies, correlated with the continuous seek for reduced development costs as well with the rise of online platforms which address planning, coordination and various development tasks. This paper conducts an overview of the most relevant Freelance Marketplaces available and studies the market structure, distribution of the workforce and trends in IT freelancing.

Keywords: Freelancing in IT, Freelance Marketplaces, Freelance Market Structure, Globalization, Online Staffing, Trends in Freelancing.

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Authors: Raja Kannusamy

Abstract:

The research focuses on the applicable technologies in the automobile industry and their effects on the productivity and annual revenue of the industry. A study has been conducted on six major automobile manufacturing industries represented in this research as M1, M2, M3, M4, M5 and M6. The results indicate that M1, which is a pioneer in technological applications, remains the market leader, followed by M5 and M2 taking the second and third positions, respectively. M3, M6 and M4 are the followers and are placed next in positions. It has also been observed that M1 and M2 have entered into an agreement to share the basic structural technologies and they maintain long-term and trusted relationships with their suppliers through the Keiretsu system. With technological giants such as Apple, Microsoft, Uber and Google entering the automobile industry in recent years, an upward trend is expected in the futuristic market with self-driving cars to dominate the automobile sector. To keep up with the market trend, it is essential for automobile manufacturers to understand the importance of developing technological capabilities and skills to be competitive in the marketplace.

Keywords: automobile manufacturing industries, competitiveness, performance improvement, technological applications

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Authors: Piotr Prewysz-Kwinto

Abstract:

The market of financial instruments with high risk is developing very dynamically in recent years and attracts more and more interest of investors. It consists essentially of two groups of instruments, i.e. derivatives and exchange traded product (ETP), and each year new types are introduced and offered to investors. The aim of this paper is to present the principles concerning financial instruments with high investment risk available on the Warsaw Stock Exchange (WSE), because they have quite complex constructions, and to evaluate the development of this market. In order to achieve this aim, statistical data from 2014-2016 was analyzed. The results confirm that the financial instruments with high investment risk available on the WSE constitute a diversified and the most numerous group of financial instruments and attract the most interest of investors. Responsible investing requires, however, a good knowledge of how they work and how they can generate profit to not expose oneself to unexpected losses.

Keywords: Derivatives, exchange traded products, financial instruments, financial market, risk, stock exchange.

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Authors: Mirjana Jeleč Raguž, Barbara Pisker

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Development of knowledge based society carries multiple challenges to the higher education system. Some of the challenges laid before the higher education sector of countries which aspire to become knowledge based societies are: the entrepreneurial leadership of the higher education institutions, finding new sources of financing in order to minimize dependence on public resources, creating connections with the labor market, commercial utilization of R&D results, promotion of innovations as well as the overall promotion of science excellence relevant to the economic sector. Within a framework of this paper and its main subject of research, the challenge which is being put before the higher education institutions is an effort of establishing regional mission of higher education through the open collaboration with regional key factors, both private and public. Development of the mentioned collaboration and its contribution to the overall regional development in Croatia is the main subject of empirical research in this paper.

Keywords: Croatia, Higher Education Institutions, Regional Role, Science-Industry Interaction

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Authors: Eisa A. Alsafran, Francis T. Edum-Fotwe, Wayne E. Lord

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The degree to which a public client actively participates in Public Private Partnership (PPP) schemes, is seen as a determinant of the success of the arrangement, and in particular, efficiency in the delivery of the assets of any infrastructure development. The asset delivery is often an early barometer for judging the overall performance of the PPP. Currently, there are no defined descriptors for the degree of such participation. The lack of defined descriptors makes the association between the degree of participation and efficiency of asset delivery, difficult to establish. This is particularly so if an optimum effect is desired. In addition, such an association is important for the strategic decision to embark on any PPP initiative. This paper presents a conceptual model of different levels of participation that characterise PPP schemes. The modelling was achieved by a systematic review of reported sources that address essential aspects and structures of PPP schemes, published from 2001 to 2015. As a precursor to the modelling, the common areas of Public Client Participation (PCP) were investigated. Equity and risk emerged as two dominant factors in the common areas of PCP, and were therefore adopted to form the foundation of the modelling. The resultant conceptual model defines the different states of combined PCP. The defined states provide a more rational basis for establishing how the degree of PCP affects the efficiency of asset delivery in PPP schemes.

Keywords: Asset delivery, infrastructure development, public private partnership, public client participation.

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Authors: N. Veerasamy, C. J. Cheyne

Abstract:

Users of computer systems may often require the private transfer of messages/communications between parties across a network. Information warfare and the protection and dominance of information in the military context is a prime example of an application area in which the confidentiality of data needs to be maintained. The safe transportation of critical data is therefore often a vital requirement for many private communications. However, unwanted interception/sniffing of communications is also a possibility. An elementary stealthy transfer scheme is therefore proposed by the authors. This scheme makes use of encoding, splitting of a message and the use of a hashing algorithm to verify the correctness of the reconstructed message. For this proof-of-concept purpose, the authors have experimented with the random sending of encoded parts of a message and the construction thereof to demonstrate how data can stealthily be transferred across a network so as to prevent the obvious retrieval of data.

Keywords: Construction, encode, interception, stealthy.

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Authors: N. Mantalay, N. Chakpitak, W. Janchai, P. Sureepong

Abstract:

Work-life balance has been acknowledged and promoted for the sake of employee retention. It is essential for a manager to realize the human resources situation within a company to help employees work happily and perform at their best. This paper suggests knowledge management and critical thinking are useful to motivate employees to think about their work-life balance. A qualitative case study is presented, which aimed to discover the meaning of work-life balance-s meaning from the perspective of Thai knowledge workers and how it affects their decision-making towards work resignation. Results found three types of work-life balance dimensions; a work- life balance including a workplace and a private life setting, an organizational working life balance only, and a worklife balance only in a private life setting. These aspects all influenced the decision-making of the employees. Factors within a theme of an organizational work-life balance were involved with systematic administration, fair treatment, employee recognition, challenging assignments to gain working experience, assignment engagement, teamwork, relationship with superiors, and working environment, while factors concerning private life settings were about personal demands such as an increasing their salary or starting their own business.

Keywords: knowledge management, work-life balance, knowledge workers, decision-making, critical thinking, diverse workforce

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