Abstract: With the development of the Internet, E-commerce is
growing at an exponential rate, and lots of online stores are built up to
sell their goods online. A major factor influencing the successful
adoption of E-commerce is consumer-s trust. For new or unknown
Internet business, consumers- lack of trust has been cited as a major
barrier to its proliferation. As web sites provide key interface for
consumer use of E-Commerce, we investigate the design of web site to
build trust in E-Commerce from a design science approach. A
conceptual model is proposed in this paper to describe the ontology of
online transaction and human-computer interaction. Based on this
conceptual model, we provide a personalized webpage design
approach using Bayesian networks learning method. Experimental
evaluation are designed to show the effectiveness of web
personalization in improving consumer-s trust in new or unknown
online store.
Abstract: Using data of listed Croatian firms from the Zagreb
Stock Exchange we analyze the relationship between firm ownership
(ownership concentration and type) and performance (ROA).
Empirical research was conducted for the period 2003-2010, yielding
with the total of 1,430 observations. Empirical findings based on
dynamic panel analysis indicate that ownership concentration
variable - CR4 is negatively related with performance, i.e. listed firms
with dispersed ownership perform better than firms with concentrated
ownership. Also, the research indicated that foreign controlled listed
firms perform better than domestically controlled firms. Majority
state owned firms perform worse than privately held firms but
dummy variable for privately controlled firms was not statistically
significant in the estimated panel model.
Abstract: Measurement of competitiveness between countries or regions is an important topic of many economic analysis and scientific papers. In European Union (EU), there is no mainstream approach of competitiveness evaluation and measuring. There are many opinions and methods of measurement and evaluation of competitiveness between states or regions at national and European level. The methods differ in structure of using the indicators of competitiveness and ways of their processing. The aim of the paper is to analyze main sources of competitive potential of the EU Member States with the help of Factor analysis (FA) and to classify the EU Member States to homogeneous units (clusters) according to the similarity of selected indicators of competitiveness factors by Cluster analysis (CA) in reference years 2000 and 2011. The theoretical part of the paper is devoted to the fundamental bases of competitiveness and the methodology of FA and CA methods. The empirical part of the paper deals with the evaluation of competitiveness factors in the EU Member States and cluster comparison of evaluated countries by cluster analysis.
Abstract: This study investigates the relationship between 10
year bond value, Yen/U.S dollar exchange rate, non-farm payrolls (all
employs) and crude oil to U.S. Dow Jones Sustainability Index. A
GARCH model is used to test these relationships for the period
January 1st 1999 to January 31st 2008 using monthly data. Results
show that an increase of the 10 year bond and non farm payrolls (all
employs) lead to an increase of the D.J.S.I returns. On the contrary
the volatility of the Yen/U.S dollar exchange rates as well as the
increase of crude oil returns has negative effects on the U.S D.J.S.I
returns. This study aims at assisting investors to understand the
influences certain macroeconomic indicators have on the companies-
stock returns as reported by the D.J.S.I.
Abstract: As in other countries from Central and Eastern Europe,
the economic restructuring occurred in the last decade of the
twentieth century affected the mining industry in Romania, an
oversize and heavily subsidized sector before 1989. After more than
a decade since the beginning of mining restructuring, an evaluation
of current social implications of the process it is required, together
with an efficiency analysis of the adaptation mechanisms developed
at governmental level. This article aims to provide an insight into
these issues through case studies conducted in the most important
coal basin of Romania, Petroşani Depression.
Abstract: Supply chain networks are frequently hit by
unplanned events which lead to disruptions and cause operational and
financial consequences. It is neither possible to avoid disruption risk
entirely, nor are network members able to prepare for every possible
disruptive event. Therefore a continuity planning should be set up
which supports effective operational responses in supply chain
networks in times of emergencies. In this research network related
degrees of freedom which determine the options for responsive
actions are derived from interview data. The findings are further
embedded into a common risk management process. The paper
provides support for researchers and practitioners to identify the
network related options for responsive actions and to determine the
need for improving the reaction capabilities.
Abstract: This paper presents results of empirical studies that were conducted in enterprises from Podkarpackie Voivodeship (Poland). It shows the experiences of those enterprises resulting from implementing and improving the eco-innovativeness management that is formal Environmental Management System (EMS). This study shows the expected and obtained internal benefits which are the effects of a functioning EMS. The aim of this paper is to determine whether the information included in international theoretical studies concerning the benefits of implementing, functioning and improving formal EMS (which is based on the international standard ISO 14001) are confirmed by the effects of the enterprises- activities.
Abstract: Due to the increasing and varying risks that economic units face with, derivative instruments gain substantial importance, and trading volumes of derivatives have reached very significant level. Parallel with these high trading volumes, researchers have developed many different models. Some are parametric, some are nonparametric. In this study, the aim is to analyse the success of artificial neural network in pricing of options with S&P 100 index options data. Generally, the previous studies cover the data of European type call options. This study includes not only European call option but also American call and put options and European put options. Three data sets are used to perform three different ANN models. One only includes data that are directly observed from the economic environment, i.e. strike price, spot price, interest rate, maturity, type of the contract. The others include an extra input that is not an observable data but a parameter, i.e. volatility. With these detail data, the performance of ANN in put/call dimension, American/European dimension, moneyness dimension is analyzed and whether the contribution of the volatility in neural network analysis make improvement in prediction performance or not is examined. The most striking results revealed by the study is that ANN shows better performance when pricing call options compared to put options; and the use of volatility parameter as an input does not improve the performance.
Abstract: Today, the Internet based communication has widen
the opportunity of event monitoring system in the medical field.
There is always a need of analyzing and designing secure and reliable
mobile communication between the hospital and biomedical
engineers mobile units. This study has been carried out to find
possible solution using SIP-based event notification for alerting the
technical staff about the Biomedical Device (BMD) status and
Patients treatment session. The Session Initiation Protocol (SIP) can
be used to create a medical event notification system. SIP can work
on a variety of devices. Its adoption as the protocol of choice for third
generation wireless networks allows for a robust and scalable
environment. One of the advantages of SIP is that it supports personal
mobility through the separation of user addressing and device
addressing. The solution for Telemed alert notification system is
based on SIP - Specific Event Notification. The aim of this project is
to extend mobility service to the hospital technicians who are using
Telemedicine system.
Abstract: Investment in a constructed facility represents a cost in
the short term that returns benefits only over the long term use of the
facility. Thus, the costs occur earlier than the benefits, and the owners
of facilities must obtain the capital resources to finance the costs of
construction. A project cannot proceed without an adequate
financing, and the cost of providing an adequate financing can be
quite large. For these reasons, the attention to the project finance is an
important aspect of project management. Finance is also a concern to
the other organizations involved in a project such as the general
contractor and material suppliers. Unless an owner immediately and
completely covers the costs incurred by each participant, these
organizations face financing problems of their own. At a more
general level, the project finance is the only one aspect of the general
problem of corporate finance. If numerous projects are considered
and financed together, then the net cash flow requirements constitute
the corporate financing problem for capital investment. Whether
project finance is performed at the project or at the corporate level
does not alter the basic financing problem .In this paper, we will first
consider facility financing from the owner's perspective, with due
consideration for its interaction with other organizations involved in a
project. Later, we discuss the problems of construction financing
which are crucial to the profitability and solvency of construction
contractors. The objective of this paper is to present the steps utilized
to determine the best combination of minimum project financing.
The proposed model considers financing; schedule and maximum net
area .The proposed model is called Project Financing and Schedule
Integration using Genetic Algorithms "PFSIGA". This model
intended to determine more steps (maximum net area) for any project
with a subproject. An illustrative example will demonstrate the
feature of this technique. The model verification and testing are put
into consideration.
Abstract: The world's population continues to grow at a quarter of a million people per day, increasing the consumption of energy. This has made the world to face the problem of energy crisis now days. In response to the energy crisis, the principles of renewable energy gained popularity. There are much advancement made in developing the wind and solar energy farms across the world. These energy farms are not enough to meet the energy requirement of world. This has attracted investors to procure new sources of energy to be substituted. Among these sources, extraction of energy from the waves is considered as best option. The world oceans contain enough energy to meet the requirement of world. Significant advancements in design and technology are being made to make waves as a continuous source of energy. One major hurdle in launching wave energy devices in a developing country like Pakistan is the initial cost. A simple, reliable and cost effective wave energy converter (WEC) is required to meet the nation-s energy need. This paper will present a novel design proposed by team SAS for harnessing wave energy. This paper has three major sections. The first section will give a brief and concise view of ocean wave creation, propagation and the energy carried by them. The second section will explain the designing of SAS-2. A gear chain mechanism is used for transferring the energy from the buoy to a rotary generator. The third section will explain the manufacturing of scaled down model for SAS-2 .Many modifications are made in the trouble shooting stage. The design of SAS-2 is simple and very less maintenance is required. SAS-2 is producing electricity at Clifton. The initial cost of SAS-2 is very low. This has proved SAS- 2 as one of the cost effective and reliable source of harnessing wave energy for developing countries.
Abstract: In this paper we analyze the core issues affecting
software architecture in enterprise projects where a large number of
people at different backgrounds are involved and complex business,
management and technical problems exist. We first give general
features of typical enterprise projects and then present foundations of
software architectures. The detailed analysis of core issues affecting
software architecture in software development phases is given. We
focus on three main areas in each development phase: people,
process, and management related issues, structural (product) issues,
and technology related issues. After we point out core issues and
problems in these main areas, we give recommendations for
designing good architecture. We observed these core issues and the
importance of following the best software development practices and
also developed some novel practices in many big enterprise
commercial and military projects in about 10 years of experience.
Abstract: Underpricing is one anomaly in initial public offerings
(IPO) literature that has been widely observed across different stock
markets with different trends emerging over different time periods.
This study seeks to determine how IPOs on the JSE performed on the
first day, first week and first month over the period of 1996-2011.
Underpricing trends are documented for both hot and cold market
periods in terms of four main sectors (cyclical, defensive, growth
stock and interest rate sensitive stocks). Using a sample of 360 listed
companies on the JSE, the empirical findings established that IPOs
on the JSE are significantly underpriced with an average market
adjusted first day return of 62.9%. It is also established that hot
market IPOs on the JSE are more underpriced than the cold market
IPOs. Also observed is the fact that as the offer price per share
increases above the median price for any given period, the level of
underpricing decreases substantially. While significant differences
exist in the level of underpricing of IPOs in the four different sectors
in the hot and cold market periods, interest rates sensitive stocks
showed a different trend from the other sectors and thus require
further investigation to uncover this pattern.
Abstract: The paper introduces and discusses definitions and concepts from the supplier relationship management area. This review has the goal to provide readers with the basic conditions to understand the market mechanisms and the technological developments of the SRM market. Further on, the work gives a picture of the actual business environment in which the SRM vendors are in, and the main trends in the field, based on the main SRM functionalities i.e. e-Procurement, e-Sourcing and Supplier Enablement, which indicates users and software providers the future technological developments and practises that will take place in this area in the next couple of years.
Abstract: The importance of nurturing, accumulating, and efficiently deploying knowledge resources through formal structures and organisational mechanisms is well understood. Recent trends in knowledge management (KM) highlight that the effective creation and transfer of knowledge can also rely upon extra-organisational channels, such as, informal networks. The perception exists that the role of informal networks in knowledge creation and performance has been underestimated in the organisational context. Literature indicates that many managers fail to comprehend and successfully exploit the potential role of informal networks to create value for their organisations. This paper investigates: 1) whether managers share work-specific knowledge with informal contacts within and outside organisational boundaries; and 2) what do they think is the importance of this knowledge collaboration in their learning and work outcomes.
Abstract: This research examines possible effects of climatic
change focusing on global warming and its impacts on world
agricultural product markets, by using a world food model developed
to consider climate changes. GDP and population for each scenario
were constructed by IPCC and climate data for each scenario was
reported by the Hadley Center and are used in this research to consider
results in different contexts. Production and consumption of primary
agriculture crops of the world for each socio-economic scenario are
obtained and investigated by using the modified world food model.
Simulation results show that crop production in some countries or
regions will have different trends depending on the context. These
alternative contexts depend on the rate of GDP growth, population,
temperature, and rainfall. Results suggest that the development of
environment friendly technologies lead to more consumption of food
in many developing countries. Relationships among environmental
policy, clean energy development, and poverty elimination warrant
further investigation.
Abstract: A number of studies highlighted problems related to
ERP systems, yet, most of these studies focus on the problems during
the project and implementation stages but not during the postimplementation
use process. Problems encountered in the process of
using ERP would hinder the effective exploitation and the extended
and continued use of ERP systems and their value to organisations.
This paper investigates the different types of problems users
(operational, supervisory and managerial) faced in using ERP and
how 'feral system' is used as the coping mechanism. The paper
adopts a qualitative method and uses data collected from two cases
and 26 interviews, to inductively develop a casual network model of
ERP usage problem and its coping mechanism. This model classified
post ERP usage problems as data quality, system quality, interface
and infrastructure. The model is also categorised the different coping
mechanism through use of 'feral system' inclusive of feral
information system, feral data and feral use of technology.
Abstract: Collateralized Debt Obligations are not as widely used
nowadays as they were before 2007 Subprime crisis. Nonetheless
there remains an enthralling challenge to optimize cash flows
associated with synthetic CDOs. A Gaussian-based model is used
here in which default correlation and unconditional probabilities of
default are highlighted. Then numerous simulations are performed
based on this model for different scenarios in order to evaluate the
associated cash flows given a specific number of defaults at different
periods of time. Cash flows are not solely calculated on a single
bought or sold tranche but rather on a combination of bought and
sold tranches. With some assumptions, the simplex algorithm gives
a way to find the maximum cash flow according to correlation of
defaults and maturities. The used Gaussian model is not realistic in
crisis situations. Besides present system does not handle buying or
selling a portion of a tranche but only the whole tranche. However the
work provides the investor with relevant elements on how to know
what and when to buy and sell.
Abstract: Existing experiences indicate that one of the most
prominent reasons that some ERP implementations fail is related to
selecting an improper ERP package. Among those important factors
resulting in inappropriate ERP selections, one is to ignore preliminary
activities that should be done before the evaluation of ERP packages.
Another factor yielding these unsuitable selections is that usually
organizations employ prolonged and costly selection processes in
such extent that sometimes the process would never be finalized
or sometimes the evaluation team might perform many key final
activities in an incomplete or inaccurate way due to exhaustion, lack
of interest or out-of-date data. In this paper, a systematic approach
that recommends some activities to be done before and after the
main selection phase is introduced for choosing an ERP package. On
the other hand, the proposed approach has utilized some ideas that
accelerates the selection process at the same time that reduces the
probability of an erroneous final selection.
Abstract: The rising growth of the GSM cellular phone industry has tightening competition level between providers in making strategies enhancing the market shares in Indonesia. Tsel, as one of those companies, has to determine the proper strategy to sustain as well as improve the market share without reducing its operational income level. Portfolio simulation model is designed with a dynamic system approach. The result of this research is a recommendation to the company by optimizing its technological policies, services, and promotions. The tariff policies and the signal quality should not be the main focus because this company has had a large number of customers and a good infrastructural condition.