Abstract: In subjective terms, Polish SME sector occupies a
prominent position in the national economic development, in which
planning of the management strategies should be primarily based on
identifying and meeting the innovation needs. As a research sample, there is chosen a printing sector of industry.
SMEs share in printing sector in Poland is estimated at the level of
81% of all enterprises. In recent years, the printing industry achieved
one of the highest levels of EU support in Poland. There is a
relatively high increase in the development of technological
innovations in equipment and the associated significant increase in
production capacity. It can be also noticed that on average, every
third enterprise belonging to the printing industry has implemented
innovations, but not all of them effected in better economic results.
Therefore, the aim of this article is to evaluate the impact of the
implementation of innovation projects financed from the EU funds
for performance of SMEs in the printing industry. As the results of research of EU funds co-financing effects on the
development of innovation in the printing industry, it was specified
that examined SMEs prefer to implement product innovation to
receive a grant to the project at a level between 40% to 60%, the
remaining part of the investment is usually covered with equity. The most common type of innovation had indicated a single
implementation, related only to the change in process, technology, or
organization. The relationship between variables of the EU funds and
management of innovative activities was verified. It has been
observed that the identified variables arising from the support in a
form of the EU funds had a positive effect on the level of earned
revenue, the increase in margin and in increase in employment as
well. It was confirmed that the implemented innovations supported
by the European funds have a positive impact on the performance of
the printing companies. Although there is a risk that due to the
decreasing demand for printing services such a high level of funding
the companies in this sector will significantly increase competition in
the long term, that may also contribute to the economic problems of
the enterprises belonging to the analyzed branch.
Abstract: Waste Load Allocation (WLA) strategies usually
intend to find economic policies for water resource management.
Water quality trading (WQT) is an approach that uses discharge
permit market to reduce total environmental protection costs. This
primarily requires assigning discharge limits known as total
maximum daily loads (TMDLs). These are determined by monitoring
organizations with respect to the receiving water quality and
remediation capabilities. The purpose of this study is to compare two
approaches of TMDL assignment for WQT policy in small catchment
area of Haraz River, in north of Iran. At first, TMDLs are assigned
uniformly for the whole point sources to keep the concentrations of
BOD and dissolved oxygen (DO) at the standard level at checkpoint
(terminus point). This was simply simulated and controlled by
Qual2kw software. In the second scenario, TMDLs are assigned
using multi objective particle swarm optimization (MOPSO) method
in which the environmental violation at river basin and total treatment
costs are minimized simultaneously. In both scenarios, the equity
index and the WLA based on trading discharge permits (TDP) are
calculated. The comparative results showed that using economically
optimized TMDLs (2nd scenario) has slightly more cost savings rather
than uniform TMDL approach (1st scenario). The former annually
costs about 1 M$ while the latter is 1.15 M$. WQT can decrease
these annual costs to 0.9 and 1.1 M$, respectively. In other word,
these approaches may save 35 and 45% economically in comparison
with command and control policy. It means that using multi objective
decision support systems (DSS) may find more economical WLA,
however its outcome is not necessarily significant in comparison with
uniform TMDLs. This may be due to the similar impact factors of
dischargers in small catchments. Conversely, using uniform TMDLs
for WQT brings more equity that makes stakeholders not feel that
much envious of difference between TMDL and WQT allocation. In
addition, for this case, determination of TMDLs uniformly would be
much easier for monitoring. Consequently, uniform TMDL for TDP
market is recommended as a sustainable approach. However,
economical TMDLs can be used for larger watersheds.
Abstract: Waste load allocation (WLA) policies may use multiobjective
optimization methods to find the most appropriate and
sustainable solutions. These usually intend to simultaneously
minimize two criteria, total abatement costs (TC) and environmental
violations (EV). If other criteria, such as inequity, need for
minimization as well, it requires introducing more binary
optimizations through different scenarios. In order to reduce the
calculation steps, this study presents value index as an innovative
decision making approach. Since the value index contains both the
environmental violation and treatment costs, it can be maximized
simultaneously with the equity index. It implies that the definition of
different scenarios for environmental violations is no longer required.
Furthermore, the solution is not necessarily the point with minimized
total costs or environmental violations. This idea is testified for Haraz
River, in north of Iran. Here, the dissolved oxygen (DO) level of river
is simulated by Streeter-Phelps equation in MATLAB software. The
WLA is determined for fish farms using multi-objective particle
swarm optimization (MOPSO) in two scenarios. At first, the trade-off
curves of TC-EV and TC-Inequity are plotted separately as the
conventional approach. In the second, the Value-Equity curve is
derived. The comparative results show that the solutions are in a
similar range of inequity with lower total costs. This is due to the
freedom of environmental violation attained in value index. As a
result, the conventional approach can well be replaced by the value
index particularly for problems optimizing these objectives. This
reduces the process to achieve the best solutions and may find better
classification for scenario definition. It is also concluded that decision
makers are better to focus on value index and weighting its contents
to find the most sustainable alternatives based on their requirements.
Abstract: The aim of the present article is to determine the impact of the external and internal factors of bank performance on the profitability indicators of the CEE countries banks in the period from 2006 to 2012. On the basis of research conducted abroad on bank and macroeconomic profitability indicators, in order to obtain research results, the authors evaluated return on average assets (ROAA) and return on average equity (ROAE) indicators of the CEE countries banks. The authors analyzed profitability indicators of banks using descriptive methods, SPSS data analysis methods, as well as data correlation and linear regression analysis. The authors concluded that most internal and external indicators of bank performance have no direct influence the profitability of the banks in the CEE countries. The only exceptions are credit risk and bank size, which affect one of the measures of bank profitability – return on average equity.
Abstract: This paper applies fuzzy clustering algorithm in classifying real estate companies in China according to some general financial indexes, such as income per share, share accumulation fund, net profit margins, weighted net assets yield and shareholders' equity. By constructing and normalizing initial partition matrix, getting fuzzy similar matrix with Minkowski metric and gaining the transitive closure, the dynamic fuzzy clustering analysis for real estate companies is shown clearly that different clustered result change gradually with the threshold reducing, and then, it-s shown there is the similar relationship with the prices of those companies in stock market. In this way, it-s great valuable in contrasting the real estate companies- financial condition in order to grasp some good chances of investment, and so on.
Abstract: This study examined the underlying dimensions of
brand equity in the chocolate industry. For this purpose, researchers
developed a model to identify which factors are influential in
building brand equity. The second purpose was to assess brand
loyalty and brand images mediating effect between brand attitude,
brand personality, brand association with brand equity. The study
employed structural equation modeling to investigate the causal
relationships between the dimensions of brand equity and brand
equity itself. It specifically measured the way in which consumers’
perceptions of the dimensions of brand equity affected the overall
brand equity evaluations. Data were collected from a sample of
consumers of chocolate industry in Iran. The results of this empirical
study indicate that brand loyalty and brand image are important
components of brand equity in this industry. Moreover, the role of
brand loyalty and brand image as mediating factors in the intention of
brand equity are supported. The principal contribution of the present
research is that it provides empirical evidence of the
multidimensionality of consumer based brand equity, supporting
Aaker´s and Keller´s conceptualization of brand equity. The present
research also enriched brand equity building by incorporating the
brand personality and brand image, as recommended by previous
researchers. Moreover, creating the brand equity index in chocolate
industry of Iran particularly is novel.
Abstract: Given that entrepreneurship is a very significant factor of regional development, it is necessary to approach systematically the development with measures of regional politics. According to international classification The Nomenclature of Territorial Units for Statistics (NUTS II), there are three regions in Croatia. The indicators of entrepreneurial activities on the national level of Croatia are analyzed in the paper, taking into consideration the results of referent research. The level of regional development is shown based on the analysis of entrepreneurs- operations. The results of the analysis show a very unfavorable situation in entrepreneurial activities on the national level of Croatia. The origin of this situation is to be found in the surroundings with an expressed inequality of regional development, which is caused by the non-existence of a strategically directed regional policy. In this paper recommendations which could contribute to the reduction of regional inequality in Croatia, have been made.