Abstract: This paper examines predictability in stock return in
developed and emergingmarkets by testing long memory in stock
returns using wavelet approach. Wavelet-based maximum likelihood
estimator of the fractional integration estimator is superior to the
conventional Hurst exponent and Geweke and Porter-Hudak
estimator in terms of asymptotic properties and mean squared error.
We use 4-year moving windows to estimate the fractional integration
parameter. Evidence suggests that stock return may not be predictable
indeveloped countries of the Asia-Pacificregion. However,
predictability of stock return insome developing countries in this
region such as Indonesia, Malaysia and Philippines may not be ruled
out. Stock return in the Thailand stock market appears to be not
predictable after the political crisis in 2008.
Abstract: Throughout this paper, a relatively new technique, the Tabu search variable selection model, is elaborated showing how it can be efficiently applied within the financial world whenever researchers come across the selection of a subset of variables from a whole set of descriptive variables under analysis. In the field of financial prediction, researchers often have to select a subset of variables from a larger set to solve different type of problems such as corporate bankruptcy prediction, personal bankruptcy prediction, mortgage, credit scoring and the Arbitrage Pricing Model (APM). Consequently, to demonstrate how the method operates and to illustrate its usefulness as well as its superiority compared to other commonly used methods, the Tabu search algorithm for variable selection is compared to two main alternative search procedures namely, the stepwise regression and the maximum R 2 improvement method. The Tabu search is then implemented in finance; where it attempts to predict corporate bankruptcy by selecting the most appropriate financial ratios and thus creating its own prediction score equation. In comparison to other methods, mostly the Altman Z-Score model, the Tabu search model produces a higher success rate in predicting correctly the failure of firms or the continuous running of existing entities.
Abstract: According to the interaction of inflation and
unemployment, expectation of the rate of inflation in Croatia is
estimated. The interaction between inflation and unemployment is
shown by model based on three first-order differential i.e. difference
equations: Phillips relation, adaptive expectations equation and
monetary-policy equation. The resulting equation is second order
differential i.e. difference equation which describes the time path of
inflation. The data of the rate of inflation and the rate of
unemployment are used for parameters estimation. On the basis of
the estimated time paths, the stability and convergence analysis is
done for the rate of inflation.
Abstract: This research adapts experimental design to investigate
the effect of conditioning or not and pre-exposure or not on brand
attitude, so it is a 2×2=4 factorial design. The results show that the
brand attitude of conditioning group is significantly higher than that of
unconditioning group. The brand attitude with pre-exposure is
significantly higher than that without pre-exposure. Conditioning or
not and pre-exposure or not have significant interaction. No matter the
celebrity is pre-exposure or not, the brand attitude is higher under
conditioning process.
Abstract: Tourists- eyes will often be attracted by the unique
phenomenon of the roadsides: betel nut beauties (pronounced as
binlang xishi in Mandarin), if they drive on the roads of Taiwan.
Sitting in the neon-lit glass stalls with attractive dress on the roadsides,
betel nut beauties usually sell betel nuts to the passing truckers or car
drivers with much of their efforts. Moreover, in order to attract
peoples- eyesight and increase the sales volume, the young girls are in
skimpy clothing to promote betel nuts or beverages to their customers.
Therefore, when the Chinese tourists come to Taiwan, to see the
unique betel nut beauty phenomenon has become one of their greatly
interested things or even a “must see". This paper describes betel but
beauties in Taiwan, explained why the Chinese tourists like to see
them in Taiwan and proposed propositions for examination.
Abstract: The concept of privacy, seen in connection to the consumer's private space and personalization, has recently gained a higher importance as a consequence of the increasing marketing efforts of the organizations based on the capturing, processing and usage of consumer-s personal data.Paper intends to provide a definition of the consumer-s private space based on the types of personal data the consumer is willing to disclose, to assess the attitude toward personalization and to identify the means preferred by consumers to control their personal data and defend their private space. Several implications generated through the definition of the consumer-s private space are identified and weighted from both the consumers- and organizations- perspectives.
Abstract: For Romania, the fulfilment of the obligations
undertaken as a member state of the European Union in accordance
with the Treaty of Accession requires the effective implementation of
sustainable development principles and practices, this being the only
reasonable development option, which adequately draws in on the
economic, social and environment resources. Achieving this
objective is based on a profound analysis of the realities in the
Romanian economy, which will reflect the existent situation and the
action directions for the future. The paper presents an analysis of the
Romanian economic performances compared to the EU economy,
based on the sustainable value (SV) model. The analysis highlighted
the considerable gap between Romania and the EU regarding the
sustainable capitalization of resources, the provided information
being useful to justify strategic development decisions at a micro and
macro levels.
Abstract: Healthcare issues continue to pose huge problems and incur massive costs. As a result there are many challenging problems still unresolved. In this paper, we will carry out an extensive scientific survey of different areas of management and planning in an attempt to identify where there has already been a substantial contribution from management science methods to healthcare problems and where there is a clear potential for more work to be done. The focus will be on the read-across to the healthcare domain from such approaches applied generally to management and planning and how the methods can be used to improvement patient care. We conclude that, since the healthcare domain significantly differs from traditional areas of management and planning, in some cases there is a need to modify the approaches so as to incorporate the complexities of healthcare, and fully exploit the potential for improvement.
Abstract: In this paper we present, propose and examine
additional membership functions for the Smoothing Transition
Autoregressive (STAR) models. More specifically, we present the
tangent hyperbolic, Gaussian and Generalized bell functions.
Because Smoothing Transition Autoregressive (STAR) models
follow fuzzy logic approach, more fuzzy membership functions
should be tested. Furthermore, fuzzy rules can be incorporated or
other training or computational methods can be applied as the error
backpropagation or genetic algorithm instead to nonlinear squares.
We examine two macroeconomic variables of US economy, the
inflation rate and the 6-monthly treasury bills interest rates.
Abstract: Study investigates the level and extent of voluntary disclosure practice in Croatia. The research was conducted on the sample of 130 medium and large companies. Findings indicate that two thirds of the companies analyzed disclose below-average number of additional information. The explanatory analyses has shown that firm size, listing status and industrial sector significantly and positively affect the level and extent of voluntary disclosure in the annual report of Croatian companies. On the other hand, profitability and ownership structure were found statistically insignificant. Unlike previous studies, this paper deals with level of voluntary disclosure of medium and large companies, as well as companies whose shares are not listed on the organized capital market, which can be found as our contribution. Also, the research makes contribution by providing the insights into voluntary disclosure practices in Croatia, as a case of macro-oriented accounting system economy, i.e. bank oriented economy with an emerging capital market.
Abstract: The purposes of the study are to study and to
investigate the relationship among exposure, uses and gratifications
of television morning news among undergraduate students in
Bangkok. This study also compares differences in information
exposure, uses and gratifications of television morning news among
these students.
The research methodology employed a questionnaire as a
quantitative method. The respondents were undergraduate students at
public and private universities in Bangkok. Totally, 400 usable
questionnaires were received. Descriptive and inferential statistics
were used in data analysis.
The results indicated that information exposure of undergraduate
students in Bangkok was at a high level. Students’ uses and
gratifications were also at high level. Information exposure was
positively correlated with uses and gratifications. Uses of information
were positively correlated with satisfaction with information. The
results also showed that students with differences in sex and type of
university were not significantly different in information exposure,
and uses and gratifications.
Abstract: Six Sigma is a well known discipline that reduces
variation using complex statistical tools and the DMAIC model. By
integrating Goldratts-s Theory of Constraints, the Five Focusing
Points and System Thinking tools, Six Sigma projects can be selected
where it can cause more impact in the company. This research
defines an integrated model of six sigma and constraint management
that shows a step-by-step guide using the original methodologies
from each discipline and is evaluated in a case study from the
production line of a Automobile engine monoblock V8, resulting in
an increase in the line capacity from 18.7 pieces per hour to 22.4
pieces per hour, a reduction of 60% of Work-In-Process and a
variation decrease of 0.73%.
Abstract: Performance Measurement is still a difficult task for forwarding companies. This is caused on the one hand by missing resources and on the other hand by missing tools. The research project “Management Information System for Logistics Service Providers" aims for closing the gap between needed and disposable solutions. Core of the project is the development
Abstract: In this paper real money demand function is analyzed
within multivariate time-series framework. Cointegration approach is
used (Johansen procedure) assuming interdependence between
money demand determinants, which are nonstationary variables. This
will help us to understand the behavior of money demand in Croatia,
revealing the significant influence between endogenous variables in
vector autoregrression system (VAR), i.e. vector error correction
model (VECM). Exogeneity of the explanatory variables is tested.
Long-run money demand function is estimated indicating slow speed
of adjustment of removing the disequilibrium. Empirical results
provide the evidence that real industrial production and exchange
rate explains the most variations of money demand in the long-run,
while interest rate is significant only in short-run.
Abstract: Project managers are the ultimate responsible for the
overall characteristics of a project, i.e. they should deliver the project
on time with minimum cost and with maximum quality. It is vital for
any manager to decide a trade-off between these conflicting
objectives and they will be benefited of any scientific decision
support tool. Our work will try to determine optimal solutions (rather
than a single optimal solution) from which the project manager will
select his desirable choice to run the project. In this paper, the
problem in project scheduling notated as
(1,T|cpm,disc,mu|curve:quality,time,cost) will be studied. The
problem is multi-objective and the purpose is finding the Pareto
optimal front of time, cost and quality of a project
(curve:quality,time,cost), whose activities belong to a start to finish
activity relationship network (cpm) and they can be done in different
possible modes (mu) which are non-continuous or discrete (disc), and
each mode has a different cost, time and quality . The project is
constrained to a non-renewable resource i.e. money (1,T). Because
the problem is NP-Hard, to solve the problem, a meta-heuristic is
developed based on a version of genetic algorithm specially adapted
to solve multi-objective problems namely FastPGA. A sample project
with 30 activities is generated and then solved by the proposed
method.
Abstract: The goals of the present research are to estimate Six Sigma implementation in Latvian commercial banks and to identify the perceived benefits of its implementation. To achieve the goals, the authors used sequential explanatory method. To obtain empirical data, the authors have developed the questionnaire and adapted it for the employees of Latvian commercial banks. The questions are related to Six Sigma implementation and its perceived benefits. The questionnaire mainly consists of closed questions, the evaluation of which is based on 5 point Likert scale. The obtained empirical data has shown that of the two hypotheses put forward in the present research – Hypothesis 1 – has to be rejected, while Hypothesis 2 has been partially confirmed. The authors have also faced some research limitations related to the fact that the participants in the questionnaire belong to different rank of the organization hierarchy.
Abstract: Despite the strong and consistent increase in the use of
electronic payment methods worldwide, the diffusion of electronic
wallets is still far from widespread. Analysis of the failure of
electronic wallet uptake has either focused on technical issues or
chosen to analyse a specific scheme. This article proposes a joint
approach to analysing key factors affecting the adoption of e-wallets
by using the ‘Technology Acceptance Model” [1] which we have
expanded to take into account the cost of using e-wallets. We use this
model to analyse Monéo, the only French electronic wallet still in
operation.
Abstract: With the beginning of the new century, man still faces
many challenges in how to form and develop his urban environment. To meet these challenges, many cities have tried to develop its visual
image. This is by transforming their urban environment into a branded visual image; this is at the level of squares, the main roads, the borders, and the landmarks.
In this realm, the paper aims at activating the role of branded urban spaces as an approach for the development of visual image of cities, especially in Egypt. It concludes the need to recognize the importance of developing the visual image in Egypt, through directing the urban planners to the important role of such spaces in achieving sustainability.
Abstract: This study explored the relationship between
occupational stress and the perceived effectiveness of men and
women managers in Ghanaian organizations. The exploration is
underlined by attempt to understand the degree to which male and
female managers in Ghanaian organizations experience occupational
stress at the workplace. The purpose is to examine the sources and
extents of occupational stress experienced by male and female
managers in Ghana. Data was collected using questionnaires and
analyzed using both descriptive statistics and correlation analysis.
The results showed that female managers in Ghana are more likely to
report of more stress experiences in the workplace than their male
counterparts. The female managers are more likely to perceive role
conflict and alienation as job stressors while the male managers
perceived blocked career as a major source of workplace stress. It is
concluded that despite the female managers experiencing enormous
level of occupational stress, there was no significant differences
between their managerial effectiveness and that of the male.
Abstract: Video-on-demand (VOD) is designed by using content delivery networks (CDN) to minimize the overall operational cost and to maximize scalability. Estimation of the viewing pattern (i.e., the relationship between the number of viewings and the ranking of VOD contents) plays an important role in minimizing the total operational cost and maximizing the performance of the VOD systems. In this paper, we have analyzed a large body of commercial VOD viewing data and found that the viewing rank distribution fits well with the parabolic fractal distribution. The weighted linear model fitting function is used to estimate the parameters (coefficients) of the parabolic fractal distribution. This paper presents an analytical basis for designing an optimal hierarchical VOD contents distribution system in terms of its cost and performance.