Abstract: It has been always observed that the effectiveness of
MIS as a support tool for management decisions degenerate after
time of implementation, despite the substantial investments being
made. This is true for organizations at the initial stages of MIS
implementations, manual or computerized. A survey of a sample of
middle to top managers in business and government institutions was
made. A large ratio indicates that the MIS has lost its impact on the
day-to-day operations, and even the response lag time expands
sometimes indefinitely. The data indicates an infant mortality
phenomenon of the bathtub model. Reasons may be monotonous
nature of MIS delivery, irrelevance, irreverence, timeliness, and lack
of adequate detail. All those reasons collaborate to create a degree of
degeneracy. We investigate and model as a bathtub model the
phenomenon of MIS degeneracy that inflicts the MIS systems and
renders it ineffective. A degeneracy index is developed to identify
the status of the MIS system and possible remedies to prevent the
onset of total collapse of the system to the point of being useless.
Abstract: Operational risk has become one of the most discussed topics in the financial industry in the recent years. The reasons for this attention can be attributed to higher investments in information systems and technology, the increasing wave of mergers and acquisitions and emergence of new financial instruments. In addition, the New Basel Capital Accord (known as Basel II) demands a capital requirement for operational risk and further motivates financial institutions to more precisely measure and manage this type of risk. The aim of this paper is to shed light on main characteristics of operational risk management and common applied methods: scenario analysis, key risk indicators, risk control self assessment and loss distribution approach.
Abstract: In this paper, we propose a multiple objective optimization model with respect to portfolio selection problem for investors looking forward to diversify their equity investments in a number of equity markets. Based on Markowitz-s M-V model we developed a Fuzzy Mixed Integer Multi-Objective Nonlinear Programming Problem (FMIMONLP) to maximize the investors- future gains on equity markets, reach the optimal proportion of the budget to be invested in different equities. A numerical example with a comprehensive analysis on artificial data from several equity markets is presented in order to illustrate the proposed model and its solution method. The model performed well compared with the deterministic version of the model.
Abstract: The past decade has witnessed a good opportunities
for city development schemes in UK. The government encouraged
restoration of city centers to comprise mixed use developments with
high density residential apartments. Investments in regeneration areas
were doing well according to the analyses of Property Databank
(IPD). However, more recent analysis by IPD has shown that since
2007, property in regeneration areas has been more vulnerable to the
market downturn than other types of investment property. The early
stages of a property market downturn may be felt most in
regeneration where funding, investor confidence and occupier
demand would dissipate because the sector was considered more
marginal or risky when development costs rise. Moreover, the Bank
of England survey shows that lenders have sequentially tightened the
availability of credit for commercial real estate since mid-2007. A
sharp reduction in the willingness of banks to lend on commercial
property was recorded. The credit crunch has already affected
commercial property but its impact has been particularly severe in
certain kinds of properties where residential developments are
extremely difficult, in particular city centre apartments and buy-to-let
markets. Commercial property – retail, industrial leisure and mixed
use were also pressed, in Birmingham; tens of mixed use plots were
built to replace old factories in the heart of the city. The purpose of
these developments was to enable young professionals to work and
live in same place. Thousands of people lost their jobs during the
recession, moreover lending was more difficult and the future of
many developments is unknown. The recession casts its shadow upon
the society due to cuts in public spending by government, Inflation,
rising tuition fees and high rise in unemployment generated anger and
hatred was spreading among youth causing vandalism and riots in
many cities. Recent riots targeted many mixed used development in
the UK where banks, shops, restaurants and big stores were robbed
and set into fire leaving residents with horror and shock. This paper
examines the impact of the recession and riots on mixed use
development in UK.
Abstract: Economically transformers constitute one of the largest investments in a Power system. For this reason, transformer condition assessment and management is a high priority task. If a transformer fails, it would have a significant negative impact on revenue and service reliability. Monitoring the state of health of power transformers has traditionally been carried out using laboratory Dissolved Gas Analysis (DGA) tests performed at periodic intervals on the oil sample, collected from the transformers. DGA of transformer oil is the single best indicator of a transformer-s overall condition and is a universal practice today, which started somewhere in the 1960s. Failure can occur in a transformer due to different reasons. Some failures can be limited or prevented by maintenance. Oil filtration is one of the methods to remove the dissolve gases and prevent the deterioration of the oil. In this paper we analysis the DGA data by regression method and predict the gas concentration in the oil in the future. We bring about a comparative study of different traditional methods of regression and the errors generated out of their predictions. With the help of these data we can deduce the health of the transformer by finding the type of fault if it has occurred or will occur in future. Additional in this paper effect of filtration on the transformer health is highlight by calculating the probability of failure of a transformer with and without oil filtrating.
Abstract: This paper provides an analysis of corporate income
tax (CIT) incentives in the Western Balkan countries: Slovenia,
Croatia, Serbia, Montenegro, Macedonia and Albania. Western
Balkan countries, as other transition and developing countries, use
large number of the corporate income tax incentives (CIT) to attract
foreign investments and to stimulate economic activity. The main
goal of this paper is to investigate how often these countries use CIT
incentives and provide review of existing tax incentives in Western
Balkan countries. Paper will focus on reduced CIT rates, tax
holidays, and other investment incentives which imply incentives
like accelerated depreciation, tax allowances and tax credits.