Search results for: the effectiveness of company.

Authors: H. L. Yim, S. H. Lee, S. K. Yoo, J. J. Kim

Abstract:

This study proposes a materials procurement contracts model to which the zero-cost collar option is applied for heading price fluctuation risks in construction.The material contract model based on the collar option that consists of the call option striking zone of the construction company(the buyer) following the materials price increase andthe put option striking zone of the material vendor(the supplier) following a materials price decrease. This study first determined the call option strike price Xc of the construction company by a simple approach: it uses the predicted profit at the project starting point and then determines the strike price of put option Xp that has an identical option value, which completes the zero-cost material contract.The analysis results indicate that the cost saving of the construction company increased as Xc decreased. This was because the critical level of the steel materials price increasewas set at a low level. However, as Xc decreased, Xpof a put option that had an identical option value gradually increased. Cost saving increased as Xc decreased. However, as Xp gradually increased, the risk of loss from a construction company increased as the steel materials price decreased. Meanwhile, cost saving did not occur for the construction company, because of volatility. This result originated in the zero-cost features of the two-way contract of the collar option. In the case of the regular one-way option, the transaction cost had to be subtracted from the cost saving. The transaction cost originated from an option value that fluctuated with the volatility. That is, the cost saving of the one-way option was affected by the volatility. Meanwhile, even though the collar option with zero transaction cost cut the connection between volatility and cost saving, there was a risk of exercising the put option.

Keywords: Construction materials, Supply chain management, Procurement, Payment, Collar option

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Authors: S. S. Bhandari, N. Chakpitak, K. Meksamoot, T. Chandarasupsang

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Under the limitation of investment budget, a utility company is required to maximize the utilization of their existing assets during their life cycle satisfying both engineering and financial requirements. However, utility does not have knowledge about the status of each asset in the portfolio neither in terms of technical nor financial values. This paper presents a knowledge based model for the utility companies in order to make an optimal decision on power transformer with their utilization. CommonKADS methodology, a structured development for knowledge and expertise representation, is utilized for designing and developing knowledge based model. A case study of One MVA power transformer of Nepal Electricity Authority is presented. The results show that the reusable knowledge can be categorized, modeled and utilized within the utility company using the proposed methodologies. Moreover, the results depict that utility company can achieve both engineering and financial benefits from its utilization.

Keywords: CommonKADS, Knowledge Engineering, LifeCycle Management, Power Transformer.

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Authors: Beata Czarnacka-Chrobot

Abstract:

Execution of Business Software Systems (BSS) Development and Enhancement Projects (D&EP) is characterized by the exceptionally low effectiveness, leading to considerable financial losses. The general reason for low effectiveness of such projects is that they are inappropriately managed. One of the factors of proper BSS D&EP management is suitable (reliable and objective) method of project work effort estimation since this is what determines correct estimation of its major attributes: project cost and duration. BSS D&EP is usually considered to be accomplished effectively if product of a planned functionality is delivered without cost and time overrun. The goal of this paper is to prove that choosing approach to the BSS D&EP work effort estimation has a considerable influence on the effectiveness of such projects execution.

Keywords: Business software systems, development and enhancement projects, effectiveness, work effort estimation methods, software product size, software product functionality, project duration, project cost.

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Authors: Andrej Miklošík, Petra Horváthová, Štefan Žák

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Nowadays companies in all sectors are looking for the sources of competitive advantages. Holistic marketing approach searches for their emergence based on the integration of all components and elements across the organization. Modern marketing sees the sources of competitive advantage in implementing the latest managerial practices, motivation, intelligent project management, knowledge management, collaborative marketing, CSR and, in the recent years, also in the business process optimization. With the use of modern tools including business process management and business process modelling the company can markedly increase its internal efficiency which can lead not only to lowering the costs but to creating the environment for optimal customer care, positive corporate culture and for origination of innovations as well. In the article the authors analyze the recent trend in this area and introduce suggestions to companies to identify and optimize the key processes that have a significant impact of the company´s competitiveness.

Keywords: business process optimization, competitive advantage, corporate social responsibility, knowledge management

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Authors: Sedigheh Zarei

Abstract:

The aim of this research is to identify the key factors in shipping company’s port selection in order to providing their requirement. To identify and rank factors that play the main role in selecting port for providing the ship requirement, at the first step, data were collected via Semi-structured interviews, the aim was to generate knowledge on how shipping company select the port and suppliers for providing their needs. 37 port selection factors were chosen from the previous researches and field interviews and have been categorized into two groups of port's factor and the factors of services of suppliers companies. The current study adopts a questionnaire survey to the main shipping companies' operators in Iran. Their responses reveal that level of services of supplying companies and customs rules play the important role in selecting the ports. Our findings could affect decisions made by port authorities to consider that supporting the privet sections for ship chandelling business could have the best result in attracting ships.

Keywords: Port selection, ship supplier, ship chandler, provision.

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Authors: Abdulkareem Hussein Bibire

Abstract:

Job satisfaction and motivation have been given an important attention in psychology because they are seen as main instruments in maintaining organizational growth and development; they are also used to accomplish organizational aims and objectives. However, it has been observed that some institutions failed in motivating and stimulating their workers; in contrast, workers may be motivated but not satisfied with the job and failed to perform efficiently and effectively. It is hoped that the study of this nature would be of significance value to all stakeholders in education specifically, lecturers in higher institutions in Nigeria. Also, it is hoped that the findings of this study will enhance lecturers’ effectiveness and performance in discharging their duties. In the light of the above statements, this study investigated whether job satisfaction and motivation predict lecturers’ effectiveness in Nigeria Police Academy, Wudil, Kano State. Correlational research method was adopted for the study, while purposive sampling technique was used to choose the institution and the sampled lectures (70). Simple random sampling technique was used to select one hundred cadets across the academy. Two instruments were used to elicit information from both lecturers and cadets. These were job satisfaction and motivation; and lecturers’ effectiveness Questionnaires. The instruments were subjected to pilot testing and found to have reliability coefficient of 0.69 and 0.71 respectively. The results of the study revealed that there was a significance relationship among job satisfaction, motivation and lecturers effectiveness in Nigeria Police Academy. There was a significance relationship between job satisfaction and lecturers’ effectiveness in Nigeria Police Academy the cal r is 0.21 while the crt r is 0.19. at p<0.05 and; there was a significance relationship between job motivation and lecturers effectiveness in Nigeria Police Academy the cal r is 0.20 while the crt r is 0.19 at p<0.05This study therefore concluded that there was a significance relationship among job satisfaction, motivation and lecturers effectiveness in Nigeria Police Academy. Based on the data collected, collated and analyzed Recommendations were made for both the lecturers and the Academy management. It is also suggested that lecturers should be industrious in their primary assignment in other to make values to cadets lives and career. And management should also try to enhance lecturers performance by more motivational needs for the lecturers.

Keywords: Satisfaction, motivation, lecturer effectiveness, academy.

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Authors: Tina Vuko, Marija Maretić, Marko Čular

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The aim of this study is to analyze the role and effectiveness of internal mechanism (audit committee) of corporate governance on credit institutions performance in Croatia. Based on research objective, sample of 78 credit institutions listed on Zagreb Stock Exchange, from 2007 to 2012, has been collected and efficiency index of audit committee (EIAC) has been created. Based on the sample and created EIAC, conclusions are as follows: audit committees of credit institutions have medium efficiency, based on EIAC measurement; there is a significant difference in audit committee effectiveness, in observed period; there is no positive relationship between audit committee effectiveness and credit institution performance; there is a significant difference between level of audit committee effectiveness and audit firm type. Future research should contain increased number of elements in EIAC creation and increased sample, for all obligators who need to establish audit committee.

Keywords: Corporate Governance, Audit Committee, Financial Institutions, Efficiency Index of Audit Committee.

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Authors: Romain Ben Taleb, Aurélie Montarnal, Matthieu Lauras, Mathieu Dahan, Romain Miclo

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To be competitive and sustainable, any company has to maximize its value. However, unlike listed companies that can assess their values based on market shares, most Small and Medium Enterprises (SMEs) which are non-listed cannot have direct and live access to this critical information. Traditional accounting reports only give limited insights to SME decision-makers about the real impact of their day-to-day decisions on the company’s performance and value. Most of the time, an SME’s financial valuation is made one time a year as the associated process is time and resource-consuming, requiring several months and external expertise to be completed. To solve this issue, we propose in this paper a value-oriented metamodel that enables real-time and dynamic assessment of the SME’s value based on the large definition of their assets. These assets cover a wider scope of resources of the company and better account for immaterial assets. The proposal, which is illustrated in a case study, discusses the benefits of incorporating assets in the SME valuation.

Keywords: SME, metamodel, decision support system, financial valuation.

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Authors: Gabriel Jinga, Madalina Dumitru

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The objective of this paper is to present the process of change in management accounting in Romania, a former communist country from Eastern Europe. In order to explain this process, we used the contingency and institutional theories. We focused on the following directions: the presentation of the scientific context and motivation of this research and the case study. We presented the state of the art in the process of change in the management accounting from the international and national perspective. We also described the evolution of management accounting in Romania in the context of economic and political changes. An important moment was the fall of communism in 1989. This represents a starting point for a new economic environment and for new management accounting. Accordingly, we developed a case study which presented this evolution. The conclusion of our research was that the changes in the management accounting system of the company analysed occurred in the same time with the institutionalisation of some elements (e.g. degree of competition, training and competencies in management accounting). The management accounting system was modelled by the contingencies specific to this company (e.g. environment, industry, strategy).

Keywords: Management accounting, change, Romania, contingency and institutional theory.

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Authors: Malinda G. Sirisena

Abstract:

The aim of this research is to evaluate the effectiveness of software quality assurance approaches of Sri Lankan offshore software development organizations, and to propose a framework which could be used across all offshore software development organizations.

An empirical study was conducted using derived framework from popular software quality evaluation models. The research instrument employed was a questionnaire survey among thirty seven Sri Lankan registered offshore software development organizations.

The findings demonstrate a positive view of Effectiveness of Software Quality Assurance – the stronger predictors of Stability, Installability, Correctness, Testability and Changeability. The present study’s recommendations indicate a need for much emphasis on software quality assurance for the Sri Lankan offshore software development organizations.

Keywords: Software Quality Assurance (SQA), Offshore Software Development, Quality Assurance Evaluation Models, Effectiveness of Quality Assurance.

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Authors: Feng-Tsung Cheng, Shu-Li Wang, Mei-Fang Wu, Hui-Yu Chuang

Abstract:

The rapid development technology and widespread Internet make business environment changing a lot. In order to stand in the global market and to keep subsistence, “changing” is unspoken rule for the company’s survival. The purpose of this paper is building up change model by using SWOT, strategy map, KPI and change management theory. The research findings indicate that the company needs to deal with employee’s resistance emotion firstly before building up change model. The ways of providing performance appraisal reward, consulting and counseling mechanisms that will great help to achieve reducing staff negative emotions and motivate staff’s efficiencies also. To revise strategy map, modify corporate culture, and improve internal operational processes which is based on change model. Through the change model, the increasing growth rate of net income helps company to achieve the goals and be a leading brand of precision machinery industry.

Keywords: Organizational change, SWOT analysis, strategy maps, performance indicators.

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Authors: Joseph Oh, Bo-Hyun Kim, Jae-Yong Baek

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This study suggests how an order-receiving company can avoid disclosing schedule information on unit tasks to the order-placing company when carrying out a collaborative project on the value chain in an order-oriented industry. Specifically, it suggests methods for keeping schedule information confidential, and categorizes potential situations by inter-task dependency. Lastly, an approach to select the most optimal non-disclosure method is discussed. With the methods for not disclosing work-related information suggested in the study, order-receiving companies can logically deal with political issues relating to the question of whether or not to disclose information upon the execution of a collaborative project in cooperation with an order-placing firm. Moreover, order-placing companies can monitor undistorted information, while respecting the legitimate rights of an order-receiving company. Therefore, it is fair to say that the suggestions made in this study will contribute to the smooth operation of collaborative intercompany projects.

Keywords: collaborative project, dependency, schedule management, unit task.

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Authors: Aziza S. Zhuparova

Abstract:

The innovation performance of nations has been repeatedly measured in the literature. We argue that while the literature offers many suggestions, their theoretical foundation is often weak and the underlying assumptions are rarely discussed. In this paper, we systematize various mechanisms by which spatial units influence nation and firms' innovation activities. On the basis of this, common innovation performance measures and analyses are discussed and evaluated. It is concluded that there is no general best way of measuring the innovation performance of spatial units. In fact, the most interesting insights can be obtained using a multitude of different approaches at the same time.

Keywords: Innovation performance, firms effectiveness of innovation, national innovativeness, innovation effectiveness, national innovation activity's measurement

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Authors: Prateek Maheshwari, Nitin Seth, Anoop Kumar Gupta

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In today’s highly competitive, dynamic and technology driven business circumstances, marketers are under steady pressure to deliver the best. Organizations are continuously improving and upgrading themselves to meet customer expectations and demands. Technology has not only changed the way in which business is done in modern times but has also transformed the way to reach out to target audience. Marketers have identified most recent media options to communicate and convince potential customers. Numerous scholars have studied the research domain of advertising and have tried to recognize different measures of advertisement effectiveness in context of various media. The objective of this paper is to critically review accessible literature on advertisement effectiveness in context of varied advertising media, recognize major gaps in the literature and identify future research prospects on the basis of critical analysis of literature.

Keywords: Advertising, Advertising Media, Competition, Effectiveness Measurement.

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Authors: Dorota Stadnicka, Katarzyna Antosz

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The idea of Lean Manufacturing has been known for 20 years. In Polish enterprises its first implementation took place in the automotive industry in the 90s. Many companies, in order to reduce costs, use lower quality materials or overload employees with work and do not notice other possibilities for improving the company’s effectiveness. Enterprises are afraid of the unknown. And that is the problem in many cases with the Lean Manufacturing conception. This article presents the study results conducted in enterprises, the aim of which was to identify waste awareness and the need of lean manufacturing implementation. The authors also wanted to gain information on the most commonly used tools and the way of implementation and the methods of the effects assessment of using the mentioned conception. The study was conducted in large enterprises located on a limited area.

Keywords: Large enterprises, lean manufacturing, tools, wastes elimination.

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Authors: B. Likar, K. Širok

Abstract:

The paper presents a new method for efficient innovation process management. Even though the innovation management methods, tools and knowledge are well established and documented in literature, most of the companies still do not manage it efficiently. Especially in SMEs the front end of innovation - problem identification, idea creation and selection - is often not optimally performed. Our eMIPS methodology represents a sort of "umbrella methodology" - a well-defined set of procedures, which can be dynamically adapted to the concrete case in a company. In daily practice, various methods (e.g. for problem identification and idea creation) can be applied, depending on the company's needs. It is based on the proactive involvement of the company's employees supported by the appropriate methodology and external experts. The presented phases are performed via a mixture of face-to-face activities (workshops) and online (eLearning) activities taking place in eLearning Moodle environment and using other e-communication channels. One part of the outcomes is an identified set of opportunities and concrete solutions ready for implementation. The other also very important result is connected to innovation competences for the participating employees related with concrete tools and methods for idea management. In addition, the employees get a strong experience for dynamic, efficient and solution oriented managing of the invention process. The eMIPS also represents a way of establishing or improving the innovation culture in the organization. The first results in a pilot company showed excellent results regarding the motivation of participants and also as to the results achieved.

Keywords: Creativity, distance learning, front end, innovation, problem.

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Authors: S. Jalilzadeh, A. Kimiyaghalam, A. Ashouri

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This paper presents a mathematical model and a methodology to analyze the losses in transmission expansion planning (TEP) under uncertainty in demand. The methodology is based on discrete particle swarm optimization (DPSO). DPSO is a useful and powerful stochastic evolutionary algorithm to solve the large-scale, discrete and nonlinear optimization problems like TEP. The effectiveness of the proposed idea is tested on an actual transmission network of the Azerbaijan regional electric company, Iran. The simulation results show that considering the losses even for transmission expansion planning of a network with low load growth is caused that operational costs decreases considerably and the network satisfies the requirement of delivering electric power more reliable to load centers.

Keywords: DPSO, TEP, Uncertainty

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Authors: Shaila Rana, Wasim Alhamdani

Abstract:

Effective cybersecurity training is of the utmost importance, given the plethora of attacks that continue to increase in complexity and ubiquity. VR cybersecurity training remains a starkly understudied discipline. Studies that evaluated the effectiveness of VR cybersecurity training over traditional methods are required. An engaging and interactive platform can support knowledge retention of the training material. Consequently, an effective form of cybersecurity training is required to support a culture of cybersecurity awareness. Measurements of effectiveness varied throughout the studies, with surveys and observations being the two most utilized forms of evaluating effectiveness. Further research is needed to evaluate the effectiveness of VR cybersecurity training and traditional training. Additionally, research for evaluating if VR cybersecurity training is more effective than traditional methods is vital. This paper proposes a methodology to compare the two cybersecurity training methods and their effectiveness. The proposed framework includes developing both VR and traditional cybersecurity training methods and delivering them to at least 100 users. A quiz along with a survey will be administered and statistically analyzed to determine if there is a difference in knowledge retention and user satisfaction. The aim of this paper is to bring attention to the need to study VR cybersecurity training and its effectiveness compared to traditional training methods. This paper hopes to contribute to the cybersecurity training field by providing an effective way to train users for security awareness. If VR training is deemed more effective, this could create a new direction for cybersecurity training practices.

Keywords: Virtual reality cybersecurity training, VR cybersecurity training, traditional cybersecurity training, evaluating efficacy.

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Authors: Adamu Danlami Ahmed

Abstract:

Inventory management is the determinant of effective and efficient work for any manager. This study looked at the relationship between inventory management and financial performance. The population of the study comprises all conglomerate quoted companies in the Nigerian Stock Exchange market as at 31^st December 2010. The scope of the study covered the period from 2010 to 2014. Descriptive, Pearson correlation and multiple regressions are used to analyze the data. It was found that inventory management is significantly related to the profitability of the company. This entails that an efficient management of the inventory cycle will enhance the profitability of the company. Also, lack of proper management of it will hinder the financial performance of organizations. Based on the results, it was recommended that a conglomerate company should try to see that inventories are kept to a minimum, as well as make sure the proper checks are maintained to make sure only needed inventories are in the store. As well as to keep track of the movement of goods, in order to avoid unnecessary delay of finished and work in progress (WIP) goods in the store and warehouse.

Keywords: Finished goods, work in progress, financial performance, inventory.

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Authors: Wimalin S. Laosiritaworn, Pongsak Holimchayachotikul

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this article proposed a methodology for computer numerical control (CNC) machine scoring. The case study company is a manufacturer of hard disk drive parts in Thailand. In this company, sample of parts manufactured from CNC machine are usually taken randomly for quality inspection. These inspection data were used to make a decision to shut down the machine if it has tendency to produce parts that are out of specification. Large amount of data are produced in this process and data mining could be very useful technique in analyzing them. In this research, data mining techniques were used to construct a machine scoring model called 'machine priority assessment model (MPAM)'. This model helps to ensure that the machine with higher risk of producing defective parts be inspected before those with lower risk. If the defective prone machine is identified sooner, defective part and rework could be reduced hence improving the overall productivity. The results showed that the proposed method can be successfully implemented and approximately 351,000 baht of opportunity cost could have saved in the case study company.

Keywords: Computer Numerical Control, Data Mining, HardDisk Drive.

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Authors: Noor Azlina Mohd Salleh, Salmiah Kasolang, Ahmed Jaffar

Abstract:

Green Lean Total Quality Management (LTQM) Human Resource Management (HRM) System is a system comprises of HRM in Environmental Management System (EMS) practices which is integrated to TQM with Lean Manufacturing (LM) principles. HRM is essential especially in dealing with low motivation and less productive employees. The ultimate goal of this system is to focus on achieving total human resource development that is motivated and capable to optimize their creativity to be a part of Green and Lean TQM organization. A survey questionnaire was developed and distributed to 30 highly active automotive vendors in Malaysia and analyzed by Minitab v16 and SPSS v17. It was found out companies that are practicing Green LTQM HRM practices have generated more revenue and have RND capability. However, years of company establishment do not affect the openness of the company to adapt new initiatives that can help to improve the effectiveness of the operations. It was also found out the importance of training, communication and rewards for employees. The Green LTQM HRM practices framework model established in this study hopefully will give preliminary insight especially to companies that are still looking for system that can improve their productivity from managing human resource. This is preliminary study that combined 4 awards practices, ISO/TS16949, Toyota Production System SAEJ4000, MAJAICO Lean Production System and EMS focusing on highly active companies that have been involved in MAJAICO Program and Proton Vendor Development Program. Future study can be conducted to know the status at other industry as well as case study pertaining to this system.

Keywords: Automotive Industry, Lean Manufacturing, Operational Engineering Management, Total Quality Management. Environmental Management System.

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Authors: Ji-Hoon Hong, Dong-Hee Kim, Nam-Uk Kim, Tai-Myoung Chung

Abstract:

Smartphone users are increasing rapidly. Accordingly, many companies are running BYOD (Bring Your Own Device: Policies to bring private-smartphones to the company) policy to increase work efficiency. However, smartphones are always under the threat of malware, thus the company network that is connected smartphone is exposed to serious risks. Most smartphone malware detection techniques are to perform an independent detection (perform the detection of a single target application). In this paper, we analyzed a variety of intrusion detection techniques. Based on the results of analysis propose an agent using the network IDS.

Keywords: Android malware detection, software-defined network.

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Authors: A. Leśniak, E. Plebankiewicz, K. Zima

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Construction projects can be implemented under various contractual and organizational systems. They can be divided into two groups: systems without the managing company where the Client manages the process, and systems with the managing company, where management is entrusted to an external company. In the public sector of the Polish market there are two ways of delivery of construction projects with the participation of the manager: one is to assign operations to another party, the so called Project Supervisor, whilst the other results from the application of FIDIC conditions of contract, which entail appointment of the Engineer. The decision is to be made by the Client and depends on various factors. On the public procurement market in Poland the selection of construction project manager boils down to awarding the contract for such a service. The selection can be done by one of eight public procurement procedures identified by the procurement law. The paper provides the analysis of 96 contracts for services awarded in 2011, which employed construction management. The study aimed to investigate the methods and criteria for selecting managers, applied in practice by the Polish public Clients.

Keywords: construction management, construction services, methods and criteria of tender selection, public procurement

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Authors: Edward C. W. Chan, Benny C. F. Cheung

Abstract:

In the knowledge economy, the financial indicator is not the unique instrument to gauge the performance of a company. The role of intellectual capital contributing to the company performance is increasing. To measure the company performance due to intellectual capital, the value-added intellectual capital (VAIC) model is adopted to measure the intellectual capital utilization efficiency of the subject companies. The purpose of this study is to review the readiness of measuring intellectual capital for the Hong Kong listed companies in the property development and property investment industry by using VAIC model. This study covers the financial reports from the representative Hong Kong listed property development companies and property investment companies in the period 2014-2019. The findings from this study indicated the industry is ready for IC measurement employing VAIC framework but not yet ready for using the extended VAIC model.

Keywords: Intellectual capital, intellectual capital measurement, property development, property investment, Skandia Navigator, VAIC.

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Authors: Pradeep Singh, Shrish Verma

Abstract:

Software fault prediction models are created by using the source code, processed metrics from the same or previous version of code and related fault data. Some company do not store and keep track of all artifacts which are required for software fault prediction. To construct fault prediction model for such company, the training data from the other projects can be one potential solution. Earlier we predicted the fault the less cost it requires to correct. The training data consists of metrics data and related fault data at function/module level. This paper investigates fault predictions at early stage using the cross-project data focusing on the design metrics. In this study, empirical analysis is carried out to validate design metrics for cross project fault prediction. The machine learning techniques used for evaluation is Naïve Bayes. The design phase metrics of other projects can be used as initial guideline for the projects where no previous fault data is available. We analyze seven datasets from NASA Metrics Data Program which offer design as well as code metrics. Overall, the results of cross project is comparable to the within company data learning.

Keywords: Software Metrics, Fault prediction, Cross project, Within project.

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Authors: C. C. Huang, M. S. Amirrudin, N. A. Ahamad Noruddin, R. Othman

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Anti-money laundering is commonly recognized as a set of procedures, laws or regulations designed to reduce the practice of generating income through illegal actions. In Malaysia, the government and law enforcement agencies have stepped up their capacities and efforts to curb money laundering since 2001. One of these measures was the enactment of the Anti-Money Laundering Act (AMLA) in 2001. The implementation costs on anti-money laundering requirements (AMLR) can be burdensome to those who are involved in enforcing them. The objective of this paper is to explore the perceived effectiveness of AMLR from the enforcement agencies- perspective. This is a preliminary study whose findings will help to give direction for further AML research in Malaysia. In addition, the results of this study provide empirical evidences on the perceived effectiveness of AMLR prior to further investigations on barriers and improvements of the implementation of the anti-money laundering regime in Malaysia.

Keywords: Anti-money laundering, anti-money laundering requirements, perceived effectiveness, enforcement agencies.

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Authors: Chiung-Ju Huang, Yuan-Hong Ho

Abstract:

This study utilizes the International Monetary Fund (IMF) Fiscal Rules Dataset focusing on four specific fiscal rules such as expenditure rule, revenue rule, budget balance rule, and debt rule and five main characteristics of each fiscal rule those are monitoring, enforcement, coverage, legal basis, and escape clause to construct the Fiscal Rule Index for nine countries in the Asia-Pacific region from 1996 to 2015. After constructing the fiscal rule index for each country, we utilize the Panel Generalized Method of Moments (Panel GMM) by using the constructed fiscal rule index to examine the effectiveness of fiscal rules in reducing procyclicality. Empirical results show that national fiscal rules have a significantly negative impact on procyclicality of government expenditure. Additionally, stricter fiscal rules combined with high government effectiveness are effective in reducing procyclicality of government expenditure. Results of this study indicate that for nine Asia-Pacific countries, policymakers’ use of fiscal rules and government effectiveness to reducing procyclicality of fiscal policy are effective.

Keywords: Counter-cyclical policy, fiscal rules, government effectiveness, procyclical policy.

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Authors: Oscar Javier Herrera, Manuel Ángel Camacho

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This paper addresses a cutting edge method of business demand forecasting, based on an empirical probability function when the historical behavior of the data is random. Additionally, it presents error determination based on the numerical method technique ‘propagation of errors.’ The methodology was conducted characterization and process diagnostics demand planning as part of the production management, then new ways to predict its value through techniques of probability and to calculate their mistake investigated, it was tools used numerical methods. All this based on the behavior of the data. This analysis was determined considering the specific business circumstances of a company in the sector of communications, located in the city of Bogota, Colombia. In conclusion, using this application it was possible to obtain the adequate stock of the products required by the company to provide its services, helping the company reduce its service time, increase the client satisfaction rate, reduce stock which has not been in rotation for a long time, code its inventory, and plan reorder points for the replenishment of stock.

Keywords: Demand Forecasting, Empirical Distribution, Propagation of Error.

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Authors: JeongJu Kim, Heeyoon Chung, DongHo Rhee, HyungHee Cho

Abstract:

There is a gap at combustor-turbine interface where leakage flow comes out to prevent hot gas ingestion into the gas turbine nozzle platform. The leakage flow protects the nozzle endwall surface from the hot gas coming from combustor exit. For controlling flow’s stream, the gap’s geometry is transformed by changing fillet radius size. During the operation, step configuration is occurred that was unintended between combustor-turbine platform interface caused by thermal expansion or mismatched assembly. In this study, CFD simulations were performed to investigate the effect of the fillet and step on heat transfer and film cooling effectiveness on the nozzle platform. The Reynolds-averaged Navier-stokes equation was solved with turbulence model, SST k-omega. With the fillet configuration, predicted film cooling effectiveness results indicated that fillet radius size influences to enhance film cooling effectiveness. Predicted film cooling effectiveness results at forward facing step configuration indicated that step height influences to enhance film cooling effectiveness. We suggested that designer change a combustor-turbine interface configuration which was varied by fillet radius size near endwall gap when there was a step at combustor-turbine interface. Gap shape was modified by increasing fillet radius size near nozzle endwall. Also, fillet radius and step height were interacted with the film cooling effectiveness and heat transfer on endwall surface.

Keywords: Gas turbine, film cooling effectiveness, endwall, fillet.

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Authors: E. A. Tkachenko, E. M. Rogova, V. V. Klimov

Abstract:

One of the basic issues of development management is connected with performance measurement as a prerequisite for identifying the achievement of development objectives. The aim of our research is to develop an improved model of assessing a company’s development results. The model should take into account the cyclical nature of development and the high degree of uncertainty in dealing with numerous management tasks. Our hypotheses may be formulated as follows: Hypothesis 1. The cycle of a company’s development may be studied from the standpoint of a project cycle. To do that, methods and tools of project analysis are to be used. Hypothesis 2. The problem of the uncertainty when justifying managerial decisions within the framework of a company’s development cycle can be solved through the use of the mathematical apparatus of fuzzy logic. The reasoned justification of the validity of the hypotheses made is given in the suggested article. The fuzzy logic toolkit applies to the case of technology shift within an enterprise. It is proven that some restrictions in performance measurement that are incurred to conventional methods could be eliminated by implementation of the fuzzy logic apparatus in performance measurement models.

Keywords: Fuzzy logic, fuzzy sets, performance measurement, project analysis.

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