Abstract: The impact assessment in its various forms has
recently become a very important part of policy-making and
legislation in many different countries. Regulatory impact assessment
(RIA) is yet another set of analytical methods deployed in the
legislation of the European Union, of many developed countries as
well as in many developing ones such as Mexico, Malaysia and
Philippines. The aim of this paper is to provide a theoretical
background for economic models in regulatory impact assessment
and an overview of their application especially on the financial
market in the Czech Republic. We found out an inadequate
application of these models, what makes room for further research in
this field.
Abstract: Capital structure is one of the most important financial
decisions in corporate financing strategy. It involves the choice of
debt and equity level in financing a company-s operations. This study
aims to investigate whether the capital structure choice of Malaysian
electrical and electronic manufacturing companies that are listed in
the Bursa Malaysia can be explained by factors that have been found
by most studies as dominant determinants of capital structure
(company size, profitability, asset tangibility, liquidity and growth).
Using debt ratio as the proxy for capital structure and applying
pooled ordinary least square multiple regression estimation, the
results showed that on average, Malaysian electrical and electronic
manufacturing companies used less debt in funding their business
operations. The findings also showed that size and asset tangibility
has a significant positive relationship with debt level, while liquidity
has a negative significant relationship with leverage.
Abstract: This study aims to explore the relationship between the
disposition effect and herding behavior of investors trading Taiwanese
information technology stocks. This study differs from previous
literature in two aspects. First, in contrast with the earlier studies that
focused on investigating investors’ herding behavior, this study
explores the possibility that the disposition effect drives investors’
herding behavior. Additionally, it takes an in-depth look at the
interdependence between the disposition effect and herding behavior
of investors, including lead-lag relationship and volatility transmission
effect. Empirical results show that investors trading Taiwan’s
information technology stocks exhibit pronounced herding behavior
and that the disposition effect has a great impact on their herding
behavior.
Abstract: Simulation is a very helpful and valuable work tool in
manufacturing. It can be used in industrial field allowing the
system`s behavior to be learnt and tested. Simulation provides a low
cost, secure and fast analysis tool. It also provides benefits, which
can be reached with many different system configurations. Topics to
be discussed include: Applications, Modeling, Validating, Software
and benefits of simulation. This paper provides a comprehensive
literature review on research efforts in simulation.
Abstract: The area of Project Risk Management (PRM) has
been extensively researched, and the utilization of various tools and
techniques for managing risk in several industries has been
sufficiently reported. Formal and systematic PRM practices have
been made available for the construction industry. Based on such
body of knowledge, this paper tries to find out the global picture of
PRM practices and approaches with the help of a survey to look into
the usage of PRM techniques and diffusion of software tools, their
level of maturity, and their usefulness in the construction sector.
Results show that, despite existing techniques and tools, their usage is
limited: software tools are used only by a minority of respondents
and their cost is one of the largest hurdles in adoption. Finally, the
paper provides some important guidelines for future research
regarding quantitative risk analysis techniques and suggestions for
PRM software tools development and improvement.
Abstract: Due to the fact that in the new century customers tend
to express globally increasing demands, networks of interconnected
businesses have been established in societies and the management of
such networks seems to be a major key through gaining competitive
advantages. Supply chain management encompasses such managerial
activities. Within a supply chain, a critical role is played by quality.
QFD is a widely-utilized tool which serves the purpose of not only
bringing quality to the ultimate provision of products or service
packages required by the end customer or the retailer, but it can also
initiate us into a satisfactory relationship with our initial customer;
that is the wholesaler. However, the wholesalers- cooperation is
considerably based on the capabilities that are heavily dependent on
their locations and existing circumstances. Therefore, it is undeniable
that for all companies each wholesaler possesses a specific
importance ratio which can heavily influence the figures calculated in
the House of Quality in QFD. Moreover, due to the competitiveness
of the marketplace today, it-s been widely recognized that
consumers- expression of demands has been highly volatile in
periods of production. Apparently, such instability and proneness to
change has been very tangibly noticed and taking it into account
during the analysis of HOQ is widely influential and doubtlessly
required. For a more reliable outcome in such matters, this article
demonstrates the application viability of Analytic Network Process
for considering the wholesalers- reputation and simultaneously
introduces a mortality coefficient for the reliability and stability of
the consumers- expressed demands in course of time. Following to
this, the paper provides further elaboration on the relevant
contributory factors and approaches through the calculation of such
coefficients. In the end, the article concludes that an empirical
application is needed to achieve broader validity.
Abstract: The purpose of this study was to explore the
demographic differences of international tourists according to three
main factors, including the value of time, shopping behavior and
shopping motivation. The Chatuchak Weekend Market is known as
one of the biggest weekend markets in the world. Too little academic
studies had been conducted in this area of weekend market, despite its
growth and continuous development. In general, both domestic
visitors and international tourists are attracted to the perception of
cheap and bargaining prices the weekend market. However, systematic
research study can provide reliable understanding of the perception of
the visitors.
This study focused on the group of international tourists who visited
the market and aimed to provide better insights based on the
differences in their demographic factors. Findings indicated that
several differences in value of time, shopping behavior, and shopping
motivation were identified by gender, income and age. Research
implications and directions for further studies were discussed.
Abstract: The paper structures research approaches to the crisis
and its management. It focuses on approaches – psychological,
sociological, economic, ethical and technological. Furthermore, it
describes the basic features of models chosen according to those
approaches. By their comparison it shows how the crisis influences
organizations and individuals, and their mutual interaction.
Abstract: The focus of this paper is to construct daily time series
exchange rate forecast models of Samoan Tala/USD and Tala/AUD
during the year 2008 to 2012 with neural network The performance
of the models was measured by using varies error functions such as
Root Square mean error (RSME), Mean absolute error (MAE), and
Mean absolute percentage error (MAPE). Our empirical findings
suggest that AR (1) model is an effective tool to forecast the
Tala/USD and Tala/AUD.
Abstract: Recognizing behavioral patterns of financial markets
is essential for traders. Japanese candlestick chart is a common tool to
visualize and analyze such patterns in an economic time series. Since
the world was introduced to Japanese candlestick charting, traders
saw how combining this tool with intelligent technical approaches
creates a powerful formula for the savvy investors.
This paper propose a generalization to box counting method of
Grassberger-Procaccia, which is based on computing the correlation
dimension of Japanese candlesticks instead commonly used 'close'
points. The results of this method applied on several foreign
exchange rates vs. IRR (Iranian Rial). Satisfactorily show lower
chaotic dimension of Japanese candlesticks series than regular
Grassberger-Procaccia method applied merely on close points of
these same candles. This means there is some valuable information
inside candlesticks.
Abstract: The main aim of this paper is to develop and calibrate
an econometric model for modeling prices of long term electricity
futures contracts. The calibration of our model is performed on data
from EEX AG allowing us to capture the specific features of German
electricity market. The data sample contains several structural breaks
which have to be taken into account for modeling. We model the data
with an ARIMAX model which reveals high correlation between the
price of electricity futures contracts and prices of LT futures
contracts of fuels (namely coal, natural gas and crude oil). Besides
this, also a share price index of representative electricity companies
traded on Xetra, spread between 10Y and 1Y German bonds and
exchange rate between EUR and USD appeared to have significant
explanatory power over these futures contracts on EEX.
Abstract: Purpose of this paper is two-folded. At first it explains
the major problems that are causing stagnation in brownfield
redevelopment. In addition, these problems given the context of the
present multi-actor built environment are becoming more complex to
observe. Therefore, this paper suggests also a prospective decisionmaking
approach that is the most appropriate to observe and react on
the given stagnation problems. Such an approach should be regarded
as prescriptive-interactive decision-making approach, a barely
established branch. This approach should offer models that have
prescriptive as well as an interactive component enabling them to
successfully cope with the multi-actor environment. Overall, this
paper provides up-to-date insight on the brownfield stagnation by
gradually introducing the nowadays major problems and offers a
prospective decision-making approach how these problems could be
tackled.
Abstract: In a none-super-competitive environment the concepts
of closed system, management control remains to be the dominant
guiding concept to management. The merits of closed loop have been
the sources of most of the management literature and culture for
many decades. It is a useful exercise to investigate and poke into the
dynamics of the control loop phenomenon and draws some lessons to
use for refining the practice of management. This paper examines the
multitude of lessons abstracted from the behavior of the Input /output
/feedback control loop model, which is the core of control theory.
There are numerous lessons that can be learned from the insights this
model would provide and how it parallels the management dynamics
of the organization. It is assumed that an organization is basically a
living system that interacts with the internal and external variables. A
viable control loop is the one that reacts to the variation in the
environment and provide or exert a corrective action. In managing
organizations this is reflected in organizational structure and
management control practices. This paper will report findings that
were a result of examining several abstract scenarios that are
exhibited in the design, operation, and dynamics of the control loop
and how they are projected on the functioning of the organization.
Valuable lessons are drawn in trying to find parallels and new
paradigms, and how the control theory science is reflected in the
design of the organizational structure and management practices. The
paper is structured in a logical and perceptive format. Further
research is needed to extend these findings.
Abstract: Cooperative organizations in Malaysia are going
through a phase of rapid growth. They are seen by the government as
another crucial vehicle to drive and boost up the country-s
economical development and growth. Hence, the issue of cooperative
governance is of great importance. Unlike literatures on corporate
governance for public listed companies-, literatures on governance
for social enterprises, in particular the cooperative organizations are
still at the early stage in Malaysia and very scant in number. This
paper will look into current practices as well as issues and challenges
related to cooperative governance. The need for a better solution
towards forming best practices of cooperative governance framework
appears imperative in deterring cases of mismanagement and fraud.
Abstract: There exists a strong correlation between efficient project management and competitive advantage for organizations. Therefore, organizations are striving to standardize and assess the rigor of their project management processes and capabilities i.e. project management maturity. Researchers and standardization organizations have developed several project management maturity models (PMMMs) to assess project management maturity of the organizations. This study presents a critical evaluation of some of the leading PMMMs against OPM3® in a multitude of ways to look at which PMMM is the most comprehensive model - which could assess most aspects of organizations and also help the organizations in gaining competitive advantage over competitors. After a detailed morphological analysis of the models, it is concluded that OPM3® is the most promising maturity model that can really provide a competitive advantage to the organizations due to its unique approach of assessment and improvement strategies.
Abstract: This article is an extension and a practical application
approach of Wheeler-s NEBIC theory (Net Enabled Business
Innovation Cycle). NEBIC theory is a new approach in IS research
and can be used for dynamic environment related to new technology.
Firms can follow the market changes rapidly with support of the IT
resources. Flexible firms adapt their market strategies, and respond
more quickly to customers changing behaviors. When every leading
firm in an industry has access to the same IT resources, the way that
these IT resources are managed will determine the competitive
advantages or disadvantages of firm. From Dynamic Capabilities
Perspective and from newly introduced NEBIC theory by Wheeler,
we know that only IT resources cannot deliver customer value but
good configuration of those resources can guarantee customer value
by choosing the right emerging technology, grasping the right
economic opportunities through business innovation and growth. We
found evidences in literature that SOA (Service Oriented
Architecture) is a promising emerging technology which can deliver
the desired economic opportunity through modularity, flexibility and
loose-coupling. SOA can also help firms to connect in network which
can open a new window of opportunity to collaborate in innovation
and right kind of outsourcing. There are many articles and research
reports indicates that failure rate in outsourcing is very high but at the
same time research indicates that successful outsourcing projects
adds tangible and intangible benefits to the service consumer.
Business executives and policy makers in the west should not afraid
of outsourcing but they should choose the right strategy through the
use of emerging technology to significantly reduce the failure rate in
outsourcing.
Abstract: High employee turnover rate in Malaysia-s retail industry has become a major issue that needs to be addressed. This study determines the levels of job satisfaction, organizational commitment, and turnover intention of employees in a retail company in Malaysia. The relationships between job satisfaction and organizational commitment on turnover intention are also investigated. A questionnaire was developed using Job Descriptive Index, Organizational Commitment Questionnaire, and Lee and Mowday-s turnover intention items and data were collected from 62 respondents. The findings suggested that the respondents were moderately satisfied with job satisfaction facets such as promotion, work itself, co-workers, and supervisors but were unsatisfied with salary. They also had moderate commitment level with considerably high intention to leave the organization. All satisfaction facets (except for co-workers) and organizational commitment were significantly and negatively related to turnover intention. Based on the findings, retention strategies of retail employees were proposed.
Abstract: The inherent complexity in nowadays- business
environments is forcing organizations to be attentive to the dynamics
in several fronts. Therefore, the management of technological
innovation is continually faced with uncertainty about the future.
These issues lead to a need for a systemic perspective, able to analyze
the consequences of interactions between different factors. The field
of technology foresight has proposed methods and tools to deal with
this broader perspective. In an attempt to provide a method to analyze
the complex interactions between events in several areas, departing
from the identification of the most strategic competencies, this paper
presents a methodology based on the Delphi method and Quality
Function Deployment. This methodology is applied in a sheet metal
processing equipment manufacturer, as a case study.
Abstract: In the open space of decision support system the
mental impression of a manager-s decision has been the subject of
large importance than the ordinary famous one, when helped by
decision support system. Much of this study is an attempt to realize
the relation of decision support system usage and decision outcomes
that governs the system. For example, several researchers have
proposed so many different models to analyze the linkage between
decision support system processes and results of decision making.
This study draws the important relation of manager-s mental
approach with the use of decision support system. The findings of
this paper are theoretical attempts to provide Decision Support
System (DSS) in a way to exhibit and promote the learning in semi
structured area. The proposed model shows the points of one-s
learning improvements and maintains a theoretical approach in order
to explore the DSS contribution in enhancing the decision forming
and governing the system.
Abstract: Modern times call organizations to have an active role
in the social arena, through Corporate Social Responsibility (CSR).
The objective of this research was to test the hypothesis that there is a
positive relation between social performance and economic
performance, and if there is a positive correlation between social
performance and financial-economic performance. To test these
theories a measure of social performance, based on the Green Book
of Commission of the European Community, was used in a group of
nineteen Portuguese top companies, listed on the PSI 20 index,
through a period of five years, since 2005 to 2009. A clusters
analysis was applied to group companies by their social performance
and to compare and correlate their economic performance. Results
indicate that companies that had a better social performance are not
the ones who had a better economic performance, and suggest that
the middle path might provide a good relation CSR-Economic
performance, as a basis to a sustainable development.