Abstract: This paper clarifies the role of ICT capital in economic
growth. Albeit ICT remarkably contributes to economic growth, there
are few studies on ICT capital in ICT sector from theoretical point of
view. In this paper, production function of ICT which is used as input
of intermediate good in final good and ICT sectors is incorporated
into our model. In this setting, we analyze the role of ICT on balance
growth path and show the possibility of general equilibrium solutions
for this model. Through the simulation of the equilibrium solutions,
we find that when ICT impacts on economy and economic growth
increases, it is necessary that increases of efficiency at ICT sector and
of accumulation of non-ICT and ICT capitals occur simultaneously.
Abstract: The paper discusses economic policy of Georgia
aiming to increase national competitiveness as well as the tools and
means which will help to improve the competitiveness of the country.
The sectors of the economy, in which the country can achieve the
competitive advantage, are studied. It is noted that the country’s
economic policy plays an important role in obtaining and maintaining
the competitive advantage - authority should take measures to ensure
high level of education; scientific and research activities should be
funded by the state; foreign direct investments should be attracted
mainly in science-intensive industries; adaptation with the latest
scientific achievements of the modern world and deepening of
scientific and technical cooperation. Stable business environment and
export oriented strategy is the basis for the country’s economic
growth.
As the outcome of the research, the paper suggests the strategy for
improving competitiveness in Georgia; recommendations are
provided based on relevant conclusions.
Abstract: The article presents the trends in Georgian wine
market development and evaluates the competitive advantages of
Georgia to enter the wine market based on its customs, traditions and
historical practices combined with modern technologies.
In order to analyze the supply of wine, dynamics of vineyard land
area and grape varieties are discussed, trends in wine production are
presented, trends in export and import are evaluated, local wine
market, its micro and macro environments are studied and analyzed
based on the interviews with experts and analysis of initial recording
materials.
For strengthening its position on the international market, the level
of competitiveness of Georgian wine is defined, which is evaluated
by “ex-ante” and “ex-post” methods, as well as by four basic and two
additional factors of the Porter’s diamond method; potential
advantages and disadvantages of Georgian wine are revealed.
Conclusions are made by identifying the factors that hinder the
development of Georgian wine market. Based on the conclusions,
relevant recommendations are developed.
Abstract: The European Union Survey on Income and Living
Conditions (EU-SILC) is a popular survey which provides
information on income, poverty, social exclusion and living
conditions of households and individuals in the European Union.
The EU-SILC contains variables which may contain outliers. The
presence of outliers can have an impact on the measures and
indicators used by the EU-SILC. In this paper, we used data sets
from various countries to analyze the presence of outliers. In addition,
we obtain some indicators after removing these outliers, and a
comparison between both situations can be observed. Finally, some
conclusions are obtained.
Abstract: Estimation of a proportion has many applications in
economics and social studies. A common application is the estimation
of the low income proportion, which gives the proportion of people
classified as poor into a population. In this paper, we present this
poverty indicator and propose to use the logistic regression estimator
for the problem of estimating the low income proportion. Various
sampling designs are presented. Assuming a real data set obtained
from the European Survey on Income and Living Conditions, Monte
Carlo simulation studies are carried out to analyze the empirical
performance of the logistic regression estimator under the various
sampling designs considered in this paper. Results derived from
Monte Carlo simulation studies indicate that the logistic regression
estimator can be more accurate than the customary estimator under
the various sampling designs considered in this paper. The stratified
sampling design can also provide more accurate results.
Abstract: This paper explores competencies that managers of
small firms in Ghana use to enhance operational flexibility towards
the attainment of higher productivity. This is because the requisite
competence required of such managers to be effective performers
continues to be a challenge. Data was collected from managers of
three hundred small firms using a standardized self-completion
questionnaire and analyzed using the Amos-based structural equation
model approach. Findings from factor and confirmatory factor
analyses showed that the only competence exhibited by managers
toward effective performance is realistic practices evident at the
workplace. It is concluded that a manager’s self-confidence and
involvement in areas that he/she is good at, and his/her possession of
skills that enables performance at high capacity are indications of the
manger’s effectiveness. The study outcome provides a knowledge
base helpful to policy-makers, especially in Ghana, in determining
the requisite managerial competences required by small firm
managers for effective performance.
Abstract: The assessment of the risk posed by a borrower to a
lender is one of the common problems that financial institutions have
to deal with. Consumers vying for a mortgage are generally
compared to each other by the use of a number called the Credit
Score, which is generated by applying a mathematical algorithm to
information in the applicant’s credit report. The higher the credit
score, the lower the risk posed by the candidate, and the better he is
to be taken on by the lender. The objective of the present work is to
use fuzzy logic and linguistic rules to create a model that generates
Credit Scores.
Abstract: The purpose of this research is to study of consumer
perception and understanding consumer buying behavior that related
between satisfied and factors affecting the purchasing. Methodology
can be classified between qualitative and quantitative approaches for
the qualitative research were interviews from middlemen who bought
organic vegetables, and middlemen related to production and
marketing system. A questionnaire was utilized as a tool to collect
data. Statistics utilized in this research included frequency,
percentage, mean, standard deviation, and multiple regression
analysis. The result show the reason to decision buying motives is
Fresh products of organic vegetables is the most significant factor on
individuals’ income, with a b of –.143, t = –2.470, the price of
organic vegetables is the most significant factor on individuals’
income, with a b of .176, t = 2.561, p value = .011. The results show
that most people with higher income think about the organic products
are expensive and have negative attitudes towards organic vegetable
as individuals with low and medium income level. Therefore,
household income had a significant influence on the purchasing
decision.
Abstract: In Capitalism all economic activity rests upon a set of
core institutional foundations, main from which are privately owned
capital assets and profit. How these core institutional foundations are
working in former soviet countries, in particular in Travel and
Tourism Industry of Georgia?
The role of Travel and Tourism as a key pillar of economic growth
is being increasingly recognized by governments in all regions of the
world. For the last few years Georgia succeeded in the World Bank
and IFC “Doing Business” rankings. Despite of that, during decades
totally different statistical data of the tourism sector were provided by
the different State bodies; economic parameters were published few,
or not published at all.
The frequency and extent of property rights violation in Georgia
has repeatedly been the subject of concern for the last decade. Total
value of abrogated by the former Georgian Government private
property is estimated approximately in US$4-5 billion.
Thus, if economic profitability is unknown and property rights are
not protected – that means that the main institutional foundations of
capitalism in Georgia, are not working properly yet, that cause
management problems at all levels of the national Travel and
Tourism industry of Georgia.
Abstract: The fundamental issues in ICT Governance (ICTG)
implementation for Malaysian Public Sector (MPS) is how ICT be
applied to support improvements in productivity, management
effectiveness and the quality of services offered to its citizens. Our
main concern is to develop and adopt a common definition and
framework to illustrate how ICTG can be used to better align ICT
with government’s operations and strategic focus. In particular, we
want to identify and categorize factors that drive a successful ICTG
process. This paper presents the results of an exploratory study to
identify, validate and refine such Critical Success Factors (CSFs) and
confirmed seven CSFs and nineteen sub-factors as influential factors
that fit MPS after further validated and refined. The Delphi method
applied in validation and refining process before being endorsed as
appropriate for MPS. The identified CSFs reflect the focus areas that
need to be considered strategically to strengthen ICT Governance
implementation and ensure business success.
Abstract: The systematic evaluation of manufacturing
technologies with regard to the potential for product designing
constitutes a major challenge. Until now, conventional evaluation
methods primarily consider the costs of manufacturing technologies.
Thus, the potential of manufacturing technologies for achieving
additional product design features is not completely captured. To
compensate this deficit, final evaluations of new technologies are
mainly intuitive in practice. Therefore, an additional evaluation
dimension is needed which takes the potential of manufacturing
technologies for specific realizable product designs into account. In
this paper, we present the approach of an evaluation method for
selecting manufacturing technologies with regard to their potential
for product designing. This research is done within the Fraunhofer
innovation cluster »AdaM« (Adaptive Manufacturing) which targets
the development of resource efficient and adaptive manufacturing
technology processes for complex turbomachinery components.
Abstract: In this study, we develop a performance evaluation
model based on a multi-attribute utility approach aiming at reaching
the sustainable banking (SB) status. This model is built accounting
for various banks’ stakeholders in a win-win paradigm. In addition, it
offers the opportunity for adopting a global measure of performance
as an indication of a bank’s sustainability degree. This measure is
referred to as banking sustainability performance index (BSPI). This
index may constitute a basis for ranking banks. Moreover, it may
constitute a bridge between the assessment types of financial and
extra-financial rating agencies. A real application is performed on
three French banks.
Abstract: Innovations not only contribute to competitiveness of
the company but have also positive effects on revenues. On average,
product innovations account to 14 percent of companies’ sales.
Innovation management has substantially changed during the last
decade, because of growing reliance on external partners. As a
consequence, a new task for purchasing arises, as firms need to
understand which suppliers actually do have high potential
contributing to the innovativeness of the firm and which do not.
Proper organization of the purchasing function is important since
for the majority of manufacturing companies deal with substantial
material costs which pass through the purchasing function. In the past
the purchasing function was largely seen as a transaction-oriented,
clerical function but today purchasing is the intermediate with supply
chain partners contributing to innovations, be it product or process
innovations. Therefore, purchasing function has to be organized
differently to enable firm innovation potential.
However, innovations are inherently risky. There are behavioral
risk (that some partner will take advantage of the other party),
technological risk in terms of complexity of products and processes
of manufacturing and incoming materials and finally market risks,
which in fact judge the value of the innovation. These risks are
investigated in this work. Specifically, technological risks which deal
with complexity of the products, and processes will be investigated
more thoroughly. Buying components or such high edge technologies
necessities careful investigation of technical features and therefore is
usually conducted by a team of experts. Therefore it is hypothesized
that higher the technological risk, higher will be the centralization of
the purchasing function as an interface with other supply chain
members.
Main contribution of this research lies is in the fact that analysis
was performed on a large data set of 1493 companies, from 25
countries collected in the GMRG 4 survey. Most analyses of
purchasing function are done by case study analysis of innovative
firms. Therefore this study contributes with empirical evaluations that
can be generalized.
Abstract: The study was conducted to produce case studies from
the Malaysian public universities stands point East Coast of
Malaysia. The aim of this study is to analyze the effects of
knowledge management on human capital toward organizational
innovation. The focus point of this study is on the management
member in the faculties of these three Malaysian Public Universities
in the East Coast state of Peninsular Malaysia. In this case,
respondents who agreed to further participate in the research will be
invited to a one-hour face-to-face semi-structured, in-depth interview.
As a result, the sample size for this study was 3 deans of Faculty of
Management. Lastly, this study tries to recommend the framework of
organizational innovation in Malaysian Public Universities.
Abstract: Identification and selection of appropriate product and
manufacturing technologies are key factors for competitiveness and
market success of technology-based companies. Therefore, many
companies perform technology intelligence (TI) activities to ensure
the identification of evolving technologies at the right time.
Technology monitoring is one of the three base activities of TI,
besides scanning and scouting.
As the technological progress is accelerating, more and more
technologies are being developed. Against the background of limited
resources it is therefore necessary to focus TI activities. In this paper
we propose a concept for defining appropriate search fields for
technology monitoring. This limitation of search space leads to more
concentrated monitoring activities. The concept will be introduced
and demonstrated through an anonymized case study conducted
within an industry project at the Fraunhofer Institute for Production
Technology IPT.
The described concept provides a customized monitoring
approach, which is suitable for use in technology-oriented companies.
It is shown in this paper that the definition of search fields and search
tasks are suitable methods to define topics of interest and thus to
align monitoring activities. Current as well as planned product,
production and material technologies and existing skills, capabilities
and resources form the basis for derivation of relevant search areas.
To further improve the concept of technology monitoring the
proposed concept should be extended during future research e.g. by
the definition of relevant monitoring parameters.
Abstract: The objectives of this study is to investigate the
existence of the sticky cost behavior of firms listed in the Indonesia
Stock Exchange (IDX) and to find evidence on the effects of sticky
operating expenses (SG&A expenses) on profitability of firms. For
the first objective, this study finds that the sticky cost behavior does
exist. For the second objective, this study finds that the stickier the
operating expenses the lesser future profitability of the firms. This
study concludes that sticky cost affects negatively to the performance
and, therefore, firms should include flexibility in designing the cost
structure of their firms.
Abstract: Fuzzy systems have been successfully used for
exchange rate forecasting. However, fuzzy system is very confusing
and complex to be designed by an expert, as there is a large set of
parameters (fuzzy knowledge base) that must be selected, it is not a
simple task to select the appropriate fuzzy knowledge base for an
exchange rate forecasting. The researchers often look the effect of
fuzzy knowledge base on the performances of fuzzy system
forecasting. This paper proposes a genetic fuzzy predictor to forecast
the future value of daily US Dollar/Euro exchange rate time’s series.
A range of methodologies based on a set of fuzzy predictor’s which
allow the forecasting of the same time series, but with a different
fuzzy partition. Each fuzzy predictor is built from two stages, where
each stage is performed by a real genetic algorithm.
Abstract: The aim of this paper is to trace the historical
development of the accounting profession in Libya, in order to
identify challenges facing the profession as the country moves from a
closed to emerging economy. The study is based on a literature
review and archival research. Accounting information has a vital role
to play in the achievement of economic goals in developing and
emerging economies, but a well qualified accounting profession is
required. In the context of institutional instability and unique cultural
factors, the accounting profession in Libya faces educational and
legal challenges if it is to achieve its potential in assisting the country
to reach its economic goals. This study focuses on one country,
which does limit its generalisability. However, it also suggests
fruitful research areas in considering the impact and challenge of
historic factors on the accounting profession in emerging economies.
Centrally planned economies require a body of well trained
professional accountants if they are to emerge onto the global
economic arena. Studies on the accounting profession have focused
primarily on those in developed economies, where the need for
meaningful accounting information for decision making is taken for
granted and there is a well trained, professional workforce. This study
of the profession in an emerging economy highlights the efforts that
will be needed to ensure the contribution of the profession to the
economic wellbeing of other emerging economies.
Abstract: Since the emergence of e-Commerce, the world of
business has witnessed a radical shift in the way business activities
are conducted. However, the emergence of m-Commerce has further
pushed the boundaries of virtual commerce revolution. As a result,
there seems to be a growing blur in the distinction between e-
Commerce and m-Commerce. In addition, existing definitions for
both forms of commerce highlight characteristics (e.g. type of device
and activity conducted) that may be applicable to both concepts. The
aim of this paper is to identify the characteristics that help define and
delineate between e- and m- Commerce. The paper concludes that
characteristics of mobility, ubiquity and immediacy provide a clearer
and simpler template to distinguish between e-Commerce and m-
Commerce.
Abstract: The current study explored the effect of economic
development, financial development and institutional quality on
environmental destruction in upper-middle income countries during
the time period of 1999-2011. The dependent variable is logarithm of
carbon dioxide emissions that can be considered as an index for
destruction or quality of the environment given to its effects on the
environment. Financial development and institutional development
variables as well as some control variables were considered. In order
to study cross-sectional correlation among the countries under study,
Pesaran and Friz test was used. Since the results of both tests show
cross-sectional correlation in the countries under study, seemingly
unrelated regression method was utilized for model estimation. The
results disclosed that Kuznets’ environmental curve hypothesis is
confirmed in upper-middle income countries and also, financial
development and institutional quality have a significant effect on
environmental quality. The results of this study can be considered by
policy makers in countries with different income groups to have
access to a growth accompanied by improved environmental quality.