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.
Abstract: This paper demonstrates an effort of a serviceoriented
engineering department in improving the sharing and
transfer of knowledge. Although the department consist of only six
employees, but it provides services in various chemical application in
an oil and gas business. The services provided span across Asia
Pacific region mainly Indonesia, Myanmar, Vietnam, Brunei,
Thailand and Singapore. Currently there are no effective tools or
integrated systems that support the sharing or transfer and
maintenance of knowledge so the department has considered
preserving this valuable knowledge by developing a Knowledge
Management System (KMS). This paper presents the development of
a KMS to support the sharing of knowledge in a service-oriented
engineering department of an oil and gas company. The embedded
features in the KMS like blog and forum will encourage iterative
process of knowledge sharing among the employees in the
department. The information and knowledge being shared, discussed
and communicated will be then achieved for future re-use. The re-use
of the knowledge allows the department to reduce redundant efforts
in providing consistent, up-to-date and cost effective of the best
solution to the its clients.
Abstract: There are many debates now regarding undervalued
and overvalued currencies currently traded on the world financial
market. This paper contributes to these debates from a theoretical
point of view. We present the three most commonly used methods of
estimating the equilibrium real effective exchange rate (REER):
macroeconomic balance approach, external sustainability approach
and equilibrium real effective exchange rate approach in the reduced
form. Moreover, we discuss key concepts of the calculation of the
real exchange rate (RER) based on applied explanatory variables:
nominal exchange rates, terms of trade and tradable and non-tradable
goods. Last but not least, we discuss the three main driving forces
behind real exchange rates movements which include terms of trade,
relative productivity growth and the interest rate differential.
Abstract: Although agriculture is an important part of the world
economy, accounting in agriculture still has many shortcomings. The
adoption of IAS 41 “Agriculture” has tried to improve this situation
and increase the comparability of financial statements of entities in
the agricultural sector. Although controversial, IAS 41 is the first
step of a consistent transition to fair value assessment in the
agricultural sector. The objective of our work is the analysis of IAS
41 and current accounting agricultural situation in Romania.
Accounting regulations in Romania are in accordance with European
directives and, in many respects, converged with IFRS referential.
Provisions of IAS 41, however, are not reflected directly in
Romanian regulations. With the increase of forest land transactions,
it is expected that recognition and measurement of biological assets
under IAS 41 to become a necessity.
Abstract: Nowadays, where most of the leading economies are
service oriented and e-business is being widely used for their
management, supply chain management has become one of the most
studied and practiced fields. Quality has an important role on today-s
business processes, so it is important to understand the impact of IT
service quality on the performance of supply chains. This paper will
start by analyzing the Supply Chain Operations Reference (SCOR)
model and each of its five activities: Plan, Source, Make, Delivery,
and Return. This article proposes a framework for analyzing Effect of
IT Service Quality on Supply Chain Performance. Using the
proposed framework, hypotheses are framed for the direct effect of IT
service quality on Supply Chain Performance and its indirect effect
through effective Supply Chain Management. The framework will be
validated empirically based on the surveys of executives of various
organizations and statistical analyses of the data collected.
Abstract: Logistics is part of the supply chain processes that plans, implements, and controls the efficient and effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customer requirements. This research aims to investigate the current status and future direction of the use of Information Technology (IT) for logistics, focusing on Supply Chain Management (SCM) and E-Commerce adoption in Johor. Therefore, this research stresses on the type of technology being adopted, factors, benefits and barriers affecting the innovation in SCM and ECommerce technology adoption among Logistics Service Providers (LSP). A mailed questionnaire survey was conducted to collect data from 265 logistics companies in Johor. The research revealed that SCM technology adoption among LSP was higher as they had adopted SCM technology in various business processes while they perceived a high level of benefits from SCM adoption. Obviously, ECommerce technology adoption among LSP is relatively low.
Abstract: Work stress causes the organizational work-life
imbalance of employees. Because of this imbalance, workers perform
with lower effort to finish assignments and thus an organization will
experience reduced productivity. In order to investigate the problem
of an organizational work-life imbalance, this qualitative case study
focuses on an organizational work-life imbalance among Thai
software developers in a German-owned company in Chiang Mai,
Thailand. In terms of knowledge management, fishbone diagram is
useful analysis tool to investigate the root causes of an organizational
work-life imbalance systematically in focus-group discussions.
Furthermore, fishbone diagram shows the relationship between
causes and effects clearly. It was found that an organizational worklife
imbalance among Thai software developers is influenced by
management team, work environment, and information tools used in
the company over time.
Abstract: This study examines the possibility to apply the theory of multidimensional accounting (momentum accounting) in a Brazilian Navy-s Services Provider Military Organization (Organização Militar Prestadora de Serviços - OMPS). In general, the core of the said theory is the fact that Accounting does not recognize the inertia of transactions occurring in an entity, and that occur repeatedly in some cases, regardless of the implementation of new actions by its managers. The study evaluates the possibility of greater use of information recorded in the financial statements of the unit of analysis, within the strategic decisions of the organization. As a research strategy, we adopted the case study. The results infer that it is possible to use the theory in the context of a multidimensional OMPS, promoting useful information for decision-making and thereby contributing to the strengthening of the necessary alignment of its administration with the current desires of the Brazilian society.
Abstract: In the past few decades, researchers have witnessed a
paradigm shift in Human Resource Management-from individual
performance to organizational outcomes with the role of Human
resource (HR) managers becoming increasingly significant to the
organization. In such a context, it is important to examine HR
practices from a strategic perspective on the sustained competitive
advantage (SCA) of the organizations. The present study explores
how Indian organisations look at their human resources strategically
when faced with competitive environment. Also, it explores strategic
initiatives being taken to manage human resources within the
organisations and how these initiatives promote SCA in terms of
enhancing the overall customer-centric delivery of goods and
services.
Abstract: To learn about China-s future energy demand, this paper first proposed GM(1,1) model group based on recursive solutions of parameters estimation, setting up a general solving-algorithm of the model group. This method avoided the problems occurred on the past researches that remodeling, loss of information and large amount of calculation. This paper established respectively all-data-GM(1,1), metabolic GM(1,1) and new information GM (1,1)model according to the historical data of energy consumption in China in the year 2005-2010 and the added data of 2011, then modeling, simulating and comparison of accuracies we got the optimal models and to predict. Results showed that the total energy demand of China will be 37.2221 billion tons of equivalent coal in 2012 and 39.7973 billion tons of equivalent coal in 2013, which are as the same as the overall planning of energy demand in The 12th Five-Year Plan.
Abstract: Literature reveals that many investors rely on technical trading rules when making investment decisions. If stock markets are efficient, one cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. The aim of this study is to investigate the effectiveness of technical trading rules in 34 emerging stock markets. The performance of the rules is evaluated by utilizing White-s Reality Check and the Superior Predictive Ability test of Hansen, along with an adjustment for transaction costs. These tests are able to evaluate whether the best model performs better than a buy-and-hold benchmark. Further, they provide an answer to data snooping problems, which is essential to obtain unbiased outcomes. Based on our results we conclude that technical trading rules are not able to outperform a naïve buy-and-hold benchmark on a consistent basis. However, we do find significant trading rule profits in 4 of the 34 investigated markets. We also present evidence that technical analysis is more profitable in crisis situations. Nevertheless, this result is relatively weak.
Abstract: E-travel is travel agency-s companies employing internet and website as e-commerce context. This study presents numerous initial key factors of electronic travel model based on small travel agencies perspectives. Browsing previous studies related to website travel activities are conducted. Five small travel agencies in Indonesia has been deeply interviewed in case studies. The finding of this research is identifying numerous characteristics and dimension factors and travel website operations including ownermanager roles, business experiences, characteristically business, and technological aspects. This study is the preliminary research related to travel website adoption in Indonesia. The further study would be conducted in questionnaires of the quantitative research in Indonesia contexts as a developing country.
Abstract: While the form of crises may change, their essence
remains the same (such as a cycle of abundant liquidity, rapid credit
growth, and a low-inflation environment followed by an asset-price
bubble). The current market turbulence began in mid-2000s when the
US economy shifted to imbalanced both internal and external
macroeconomic positions. We see two key causes of these problems
– loose US monetary policy in early 2000s and US government
guarantees issued on the securities by government-sponsored
enterprises what was further fueled by financial innovations such as
structured credit products. We have discovered both negative and
positive lessons deriving from this crisis and divided the negative
lessons into three groups: financial products and valuation, processes
and business models, and strategic issues. Moreover, we address key
risk management lessons and exit strategies derived from the current
crisis and recommend policies that should help diminish the negative
impact of future potential crises.
Abstract: Cognizant of the fact that enterprise systems involve
organizational change and their implementation is over shadowed by a
high failure rate, it is argued that there is the need to focus attention on
employees- perceptions of such organizational change when
explaining adoption behavior of enterprise systems. For this purpose,
the research incorporates a conceptual constructo fattitude toward
change that captures views about the need for organizational change.
Centered on this conceptual construct, the research model includes
beliefs regarding the system and behavioral intention as its
consequences, and the personal characteristics of organizational
commitment and perceived personal competence as its antecedents.
Structural equation analysis using LISREL provides significant
support for the proposed relationships. Theoretical and practical
implications are discussed along with limitations.
Abstract: This paper develops the fiscal health index of 21 local
governments in Taiwan over the 1984 to 2010 period. A quantile
regression analysis was used to explore the extent that economic
variables, political budget cycles, and legislative checks and balances,
impact different quantiles of fiscal health index for a country over a
sample period of time. Our findings suggest that local governments at
the lower quantile are significantly benefited from political budget
cycles and the increase in central government revenues, while
legislative effective checks and balances and the increase in central
government expenditures have a significantly negative effect on local
fiscal health. When local governments are in the upper tail of the
distribution, legislative checks and balances and growth in
macroeconomics have significant and adverse effects on the fiscal
health of local governments. However, increases in central
government revenues have significant and positive effects on the
health status of local government in Taiwan.
Abstract: Early supplier involvement (ESI) benefits new
product development projects several ways. Nevertheless, many castuser
companies do not know the advantages of ESI and therefore do
not utilize it. This paper presents reasons why to utilize ESI in
casting industry and how that can be done. Further, this paper
presents advantages and challenges related to ESI in casting industry,
and introduces a Casting-Network Collaboration Model. The model
presents practices for companies to build advantageous collaborative
relationships. More detailed, the model describes three levels for
company-network relationships in casting industry with different
degrees of collaboration, and requirements for operating in each
level. In our research, ESI was found to influence, for example, on
project time, component cost, and quality. In addition, challenges
related to ESI, such as, a lack of mutual trust and unawareness about
the advantages were found. Our research approach was a case study
including four cases.
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.
Abstract: The importance of inter-organizational system (IOS)
has been increasingly recognized by organizations. However, IOS
adoption has proved to be difficult and, at this stage, why this is so is
not fully uncovered. In practice, benefits have often remained
concentrated, primarily accruing to the dominant party, resulting in
low rates of adoption and usage, and often culminating in the failure
of the IOS. The main research question is why organizations initiate
or join IOS and what factors influence their adoption and use levels.
This paper reviews the literature on IOS adoption and proposes a
theoretical framework in order to identify the critical factors to
capture a complete picture of IOS adoption. With our proposed
critical factors, we are able to investigate their relative contributions
to IOS adoption decisions. We obtain findings that suggested that
there are five groups of factors that significantly affect the adoption
and use decision of IOS in the Supply Chain Management (SCM)
context: 1) interorganizational context, 2) organizational context, 3)
technological context, 4) perceived costs, and 5) perceived benefits.
Abstract: When choosing marketing strategies for international markets, one of the factors that should be considered is the cultural differences that exist among consumers in different countries. If the branding strategy has to be contextual and in tune with the culture, then the brand positioning variables has to interact, adapt and respond to the cultural variables in which the brand is operating. This study provides an overview of the relevance of culture in the development of an effective branding strategy in the international business environment. Hence, the main objective of this study is to provide a managerial framework for developing strategies for cross cultural brand management. The framework is useful because it incorporates the variables that are important in the competitiveness of fast food enterprises irrespective of their size. It provides practical, proactive and result oriented analysis that will help fast food firms augment their strategies in the international fast food markets. The proposed framework will enable managers understand the intricacies involved in branding in the global fast food industry and decrease the use of 'trial and error' when entering into unfamiliar markets.
Abstract: Tackling emergency situations is performed based on emergency scenarios. These scenarios do not have a uniform form in the Czech Republic. They are unstructured and developed primarily in the text form. This does not allow solving emergency situations efficiently. For this reason, the paper aims at defining a Process Oriented Architecture to support and thus to improve tackling emergency situations in the Czech Republic. The innovative Process Oriented Architecture is based on the Workflow Reference Model while taking into account the options of Business Process Management Suites for the implementation of process oriented emergency scenarios. To verify the proposed architecture the Proof of Concept has been used which covers the reception of an emergency event at the district emergency operations centre. Within the particular implementation of the proposed architecture the Bonita Open Solution has been used. The architecture created in this way is suitable not only for emergency management, but also for educational purposes.