Abstract: Transportation authorities need to provide the services
and facilities that are critical to every country-s well-being and
development. Management of the road network is becoming
increasingly challenging as demands increase and resources are
limited. Public sector institutions are integrating performance
information into budgeting, managing and reporting via
implementing performance measurement systems. In the face of
growing challenges, performance measurement of road networks is
attracting growing interest in many countries. The large scale of
public investments makes the maintenance and development of road
networks an area where such systems are an important assessment
tool. Transportation agencies have been using performance
measurement and modeling as part of pavement and bridge
management systems. Recently the focus has been on extending the
process to applications in road construction and maintenance
systems, operations and safety programs, and administrative
structures and procedures. To eliminate failure and dysfunctional
consequences the importance of obtaining objective data and
implementing evaluation instrument where necessary is presented in
this paper
Abstract: Innovational development of regions in Russia is generally faced with the essential influence from federal and local authorities. The organization of effective mechanism of innovation development (and self-development) is impossible without establishment of defined institutional conditions in the analyzed field. Creative utilization of scientific concepts and information should merge, giving rise to continuing innovation and advanced production. The paper presents an analysis of institutional conditions in the field of creation and development of innovation activity infrastructure and transferring of knowledge and skills between different economic agents in Russia. Knowledge is mainly privately owned, developed through R&D investments and incorporated into technology or a product. Innovation infrastructure is a strong concentration mechanism of advanced facilities, which are mainly located inside large agglomerations or city-regions in order to benefit from scale effects in both input markets (human capital, private financial capital) and output markets (higher education services, research services). The empirical results of the paper show that in the presence of more efficient innovation and knowledge transfer and transcoding system and of a more open attitude of economic agents towards innovation, the innovation and knowledge capacity of regional economy is much higher.
Abstract: The relation between taxation states and foreign direct
investment has been studied for several perspectives and with states
of different levels of development. Usually it's only considered the
impact of tax level on the foreign direct investment volume. This
paper enhances this view by assuming that multinationals companies
(MNC) can use transfer prices systems and have got investment
timing flexibility. Thus, it evaluates the impact of the use of
international transfer pricing systems on the states- policy and on the
investment timing of the multinational companies. In uncertain
business environments (with periodical release of news), the
investment can increase if MNC detain investment delay options.
This paper shows how tax differentials can attract foreign direct
investments (FDI) and influence MNC behavior. The equilibrium is
set in a global environment where MNC can shift their profits
between states depending on the corporate tax rates. Assuming the
use of transfer pricing schemes, this paper confirms the relationship
between MNC behavior and the release of new business news.
Abstract: The distillation process in the general sense is a
relatively simple technique from the standpoints of its principles.
When dedicating distillation to water treatment and specifically
producing fresh water from sea, ocean and/ briny waters it is
interesting to notice that distillation has no limitations or domains of
applicability regarding the nature or the type of the feedstock water.
This is not the case however for other techniques that are
technologically quite complex, necessitate bigger capital investments
and are limited in their usability. In a previous paper we have
explored some of the effects of temperature on yield. In this paper,
we continue building onto that knowledge base and focus on the
effects of several additional engineering and design variables on
productivity.
Abstract: Transport and logistics are the lifeblood of societies.
There is a strong correlation between overall growth in economic
activity and growth of transport. The movement of people and goods
has the potential for creating wealth and prosperity, therefore the
state of transportation infrastructure and especially the condition of
road networks is often a governmental priority. The design, building
and maintenance of national roads constitute a substantial share of
government budgets. Taking into account the magnitude and
importance of these investments, the expedience, efficiency and
sustainability of these projects are of great public interest. This paper
provides an overview of supply chain management principles applied
to road construction. In addition, road construction performance
measurement systems and ICT solutions are discussed. Road
construction in Estonia is analyzed. The authors propose the
development of a national performance measurement system for road
construction.
Abstract: Setting up of rural telecentres, popularly referred to as
Common Service Centres (CSCs), are considered one of the initial
forerunners of rural e-Governance initiatives under the Government
of India-s National e-Governance Plan (NeGP). CSCs are
implemented on public-private partnership (PPP) – where State
governments play a major role in facilitating the establishment of
CSCs and investments are made by private companies referred to as
Service Centre Agencies (SCAs). CSC implementation is expected to
help in improving public service delivery in a transparent and
efficient manner. However, there is very little research undertaken to
study the actual impact of CSC implementation at the grassroots
level. This paper addresses the gap by identifying the circumstances,
concerns and expectations from the point-of-view of citizens and
examining the finer aspects of social processes in the context of rural
e-Governance.
Abstract: Environmental investments, including ecological
projects, relating to the protection of atmosphere are today a need.
However, investing in the environment should be based on rational
management rules. This comes across a problem of selecting a
method to assess substances reduced during projects. Therefore, a
method allowing for the assessment of decision rationality has to be
found.
The purpose of this article is to present and systematise pollution
reduction assessment methods and illustrate theoretical analyses with
empirical data.
Empirical results confirm theoretical considerations, which proved
that the only method for judging pollution reduction, free of apparent
disadvantages, is the Eco 99-ratio method. To make decisions on
environmental projects, financing institutions should take into
account a rationality rule. Therefore the Eco 99-ratio method could
be applied to make decisions relating to environmental investments in
the area of air protection.
Abstract: This research explores the links between physical
development and transportation infrastructure around Kumasi,
Ghana. It utilizes census data as well as fieldwork and interviews
carried out during July and December 2005. The results suggest that
there is a weak association between transportation investments and
physical development, and that recent housing has generally occurred
in poorly accessible locations. Road investments have generally
followed physical expansion rather than the reverse. Hence policies
designed to manage the fast growth now occurring around Ghanaian
cities should not focus exclusively on improving transportation
infrastructure but also strengthening the underlying the traditional
land management structures and the official land administrative
institutions that operate within those structures.
Abstract: Since the feasibility study of R&D programs have been
initiated for efficient public R&D investments, year 2008, feasibility
studies have improved in terms of precision. Although experience
related to these studies of R&D programs have increased to a certain
point, still methodological improvement is required. The feasibility
studies of R&D programs are consisted of various viewpoints, such as
technology, policy, and economics. This research is to provide
improvement methods to the economic perspective; especially the cost
estimation process of R&D activities. First of all, the fundamental
concept of cost estimation is reviewed. After the review, a statistical
and econometric analysis method is applied as empirical analysis.
Conclusively, limitations and further research directions are provided.
Abstract: The deficit of power for electricity demand reaches
almost 30% for consumers in the last few years. This reflects with
continually increasing the price of electricity, and today the price for
small industry is almost 110Euro/MWh. The high price is additional
problem for the owners in the economy crisis which is reflected with
higher price of the goods.
The paper gives analyses of the energy needs for real agro
complex in Macedonia, private vinery with capacity of over 2 million
liters in a year and with self grapes and fruits fields. The existing
power supply is from grid with 10/04 kV transformer. The
geographical and meteorological condition of the vinery location
gives opportunity for including renewable as a power supply option
for the vinery complex.
After observation of the monthly energy needs for the vinery, the
base scenario is the existing power supply from the distribution grid.
The electricity bill in small industry has three factors: electricity in
high and low tariffs in kWh and the power engaged for the
technological process of production in kW. These three factors make
the total electricity bill and it is over 110 Euro/MWh which is the
price near competitive for renewable option. On the other side
investments in renewable (especially photovoltaic (PV)) has tendency
of decreasing with price of near 1,5 Euro/W. This means that
renewable with PV can be real option for power supply for small
industry capacities (under 500kW installed power).
Therefore, the other scenarios give the option with PV and the last
one includes wind option. The paper presents some scenarios for
power supply of the vinery as the followings:
• Base scenario of existing conventional power supply from the
grid
• Scenario with implementation of renewable of Photovoltaic
• Scenario with implementation of renewable of Photovoltaic and
Wind power
The total power installed in a vinery is near 570 kW, but the
maximum needs are around 250kW. At the end of the full paper some
of the results from scenarios will be presented. The paper also
includes the environmental impacts of the renewable scenarios, as
well as financial needs for investments and revenues from renewable.
Abstract: Environmental conflicts produced by economic development and natural resources exploitation, are discussed. Main causes of conflicts in developing countries were shown to arise from geographically external investments, inefficiency of the Environmental Impact Assessment (EIA), and the lack of communication between government and Non-Government Organizations (NGOs). Citizen participation can only intervene during late stages of the EIA, which is considered as one of the main shortcomings in satisfying demands of local people.
Abstract: Infrastructure investments are important in developing
countries, it will not only help to foster the economic growth of a
nation, but it will also act as a platform in which new forms of
partnership and collaboration can be developed mainly in East Asian
countries. Since the last two decades, many infrastructure projects
had been completed through build-operate-transfer (BOT) type of
procurement. The developments of BOT have attracted participation
of local and foreign private sector investor to secure funding and to
deliver projects on time, within the budget and to the required
specifications. Private sectors are preferred by the government in
East Asia to participate in BOT projects due to lack of public
funding. The finding has resulted that the private sector or promoter
of the BOT projects is exposed to multiple risks which have been
discussed in this paper. Effective risk management methods and
good managerial skills are required in ensuring the success of the
project. The review indicated that mitigation measures should be
employed by the promoter throughout the concession period and
support from the host government is also required in ensuring the
success of the BOT project.
Abstract: ERP systems are the largest software applications adopted by universities, along with quite significant investments in their implementation. However, unlike other applications little research has been conducted regarding these systems in a university environment. This paper aims at providing a critical review of previous research in ERP system in higher education with a special focus on higher education in Australia. The research not only forms the basis of an evaluation of previous research and research needs, it also makes inroads in identifying the payoff of ERPs in the sector from different perspectives with particular reference to the user. The paper is divided into two parts, the first part focuses on ERP literature in higher education at large, while the second focuses on ERP literature in higher education in Australia.
Abstract: The dramatic increasing of sea-freight container
transportations and the developing trends for using containers in the
multimodal handling systems through the sea, rail, road and land in
nowadays market cause general managers of container terminals to
face challenges such as increasing demand, competitive situation,
new investments and expansion of new activities and need to use new
methods to fulfil effective operations both along quayside and within
the yard. Among these issues, minimizing the turnaround time of
vessels is considered to be the first aim of every container port
system. Regarding the complex structure of container ports, this
paper presents a simulation model that calculates the number of
trucks needed in the Iranian Shahid Rajaee Container Port for
handling containers between the berth and the yard. In this research,
some important criteria such as vessel turnaround time, gantry crane
utilization and truck utilization have been considered. By analyzing
the results of the model, it has been shown that increasing the number
of trucks to 66 units has a significant effect on the performance
indices of the port and can increase the capacity of loading and
unloading up to 10.8%.
Abstract: The article examines an opportunity of corruption
restriction exercised by international business community in Russia.
Integration of Russian economy into the international business does
not reduce corruption inside the country. Foreign actors investing in
Russia under the condition of obtaining their required rates of returns
will be reluctant to harm their investments by involving into anticorruption
activities. Furthermore, many Russian firms- competitive
advantage could be directly related to their corruption connections. In
this case, foreign investments would only accentuate corrupt
companies- success by supporting them financially
Abstract: Wireless Mesh Networks (WMNs) are an emerging
technology for last-mile broadband access. In WMNs, similar to ad
hoc networks, each user node operates not only as a host but also as a
router. User packets are forwarded to and from an Internet-connected
gateway in multi-hop fashion. The WMNs can be integrated with
other networking technologies i.e. ad hoc networks, to implement a
smooth network extension. The meshed topology provides good
reliability and scalability, as well as low upfront investments. Despite
the recent start-up surge in WMNs, much research remains to be
done in standardizing the functional parameters of WMNs to fully
exploit their full potential. An edifice of the security concerns of
these networks is authentication of a new client joining an integrated
ad hoc network and such a scenario will require execution of a multihop
authentication technique. Our endeavor in this paper is to
introduce a secure authentication technique, with light over-heads
that can be conveniently implemented for the ad-hoc nodes forming
clients of an integrated WMN, thus facilitating their inter-operability.
Abstract: The study analyzed the risk and returns of commercial-property in Southwestern Nigeria and selected stocksmarket investment between 2000 and 2009; compared the inflation hedging characteristics and diversification potentials of investing in commercial-property and selected stock- market investment. Primary data were collected on characteristics, rental and capital values of commercial- properties from their property managers through the use of questionnaire. Secondary data on stock prices and dividends on banking, insurance and conglomerates sectors were sourced from the Nigerian Stock Exchange (2000-2009). The result showed that average return on all the selected stock- investments was higher than that of commercial-property. As regards risk, commercial-property indicated lower risk, compared to stocks. Also the stock-investment had better inflation hedging capacity than commercial-properties; combination of both had diversification potentials. The study concluded that stock-market investment offered attractive higher return than commercial-property although with higher risk and there could be diversification benefits in combining commercial-property with stock- investment.
Abstract: These This paper looks into frameworks which aim at
furthering the discussion of the role of regenerative design practices
in a city-s historic core and the tool of urban design to achieve urban
revitalization on the island of Cyprus. It also examines the region-s
demographic mix, the effectiveness of its governmental coordination
and the strategies of adaptive reuse and strategic investments in older
areas with existing infrastructure. The two main prongs of
investigation will consider the effect of the existing and proposed
changes in the physical infrastructure and fabric of the city, as well as
the catalytic effect of sustainable urban design practices. Through this
process, the work hopes to integrate the contained potential within
the existing historic core and the contributions and participation of
the migrant and immigrant populations to the local economy. It also
examines ways in which this coupling of factors can bring to the front
the positive effects of this combined effort on an otherwise sluggish
local redevelopment effort. The data for this study is being collected
and organized as part of ongoing urban design and development
student workshop efforts in urban planning and design education.
The work is presented in graphic form and includes data collected
from interviews with study area organizations and the community at
large. Planning work is also based on best practices initiated by the
staff of the Nicosia Master Plan task force, which coordinates holistic
planning efforts for the historic center of the city of Nicosia.
Abstract: Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.
Abstract: Electric vehicles are considered as technology which
can significantly reduce the problems related to road transport such
as increasing GHG emissions, air pollutions and energy import
dependency.
The core objective of this paper is to analyze the current energetic,
ecological and economic characteristics of different types of electric
vehicles.
The major conclusions of this analysis are: The high investments
cost are the major barrier for broad market breakthrough of battery
electric vehicles and fuel cell vehicles. For battery electric vehicles
also the limited driving range states a key obstacle. The analyzed
hybrids could in principle serve as a bridging technology. However,
due to their tank-to-wheel emissions they cannot state a proper
solution for urban areas.
Finally, the most important perception is that also battery electric
vehicles and fuel cell vehicles are environmentally benign solution if
the primary fuel source is renewable.