Abstract: After the development of the Internet a suitable
discipline for trading goods electronically has been emerged.
However, this type of markets is not still mature enough in order to
become independent and get closer to seller/buyer-s needs.
Furthermore, the buyable and sellable goods in these markets still
don-t have essential standards for being well-defined. In this paper,
we will present a model for development of a market which can
contain goods with variable definitions and we will also investigate
its characteristics. Besides, by noticing the fact that people have
different discriminations, it-s figured out that the significance of each
attribute of a specific product may vary from different people-s view
points. Consequently we-ll present a model for weighting and
accordingly different people-s view points could be satisfied. These
two aspects will be discussed completely throughout this paper.
Abstract: A property-s selling price is described as the result of
sequential bargaining between a buyer and a seller in an environment
of asymmetric information. Hedonic housing prices are estimated
based upon 17,333 records of New Zealand residential properties
sold during the years 2006 and 2007.
Abstract: This paper investigates the effect of International
Financial Reporting Standards (IFRS) adoption on the frequency of
earnings managements towards small positive profits. We focus on
two emerging markets IFRS adopters: South Africa and Turkey.
We tested our logistic regression using appropriate panelestimation
techniques over a sample of 330 South African and 210
Turkish firm-year observations over the period 2002-2008. Our
results document that mandatory adoption of IFRS is not associated
with a reduction in earnings management towards small positive
profits in emerging markets. These results contradict most of the
previous findings of the studies conducted in developed countries.
Based on the legal system factor, we compare the intensity of
earnings management between a code law country (Turkey) and a
common law country (South Africa) over the pre and post-adoption
periods. Our findings show that the frequency of such earnings
management practice increases significantly for the code law
country.
Abstract: The increasing interest in plant sterol enriched foods
is due to the fact that they reduce blood cholesterol concentrations
without adverse side effects. In this context, enriched foods with
phytosterols may be helpful in protecting population against
atherosclerosis and cardiovascular diseases. The aim of the present
work was to evaluate in a population of Viseu, Portugal, the
consumption habits low-fat, plant sterol-enriched yoghurt. For this
study, 577 inquiries were made and the sample was randomly
selected for people shopping in various supermarkets. The
preliminary results showed that the biggest consumers of these
products were women aged 45 to 65 years old. Most of the people
who claimed to buy these products consumed them once a day. Also,
most of the consumers under antidyslipidemic therapeutics noticed
positive effects on hypercholesterolemia.
Abstract: This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently exhibited a bi-directional causal relationship between any two of three indicators. Unlike Pan et al. (2007) and Phylaktis and Ravazzolo (2005), we found that such cointegration is influenced by three characteristics: capital control; flexibility in foreign exchange rates; and the ratio of trade to GDP. These characteristics are the result of liberalization in each Asian country. This implies that liberalization policies are effective on improving the cointegration between any two of financial markets and current account for ten Asian countries.
Abstract: Recognizing behavioral patterns of financial markets
is essential for traders. Japanese candlestick chart is a common tool to
visualize and analyze such patterns in an economic time series. Since
the world was introduced to Japanese candlestick charting, traders
saw how combining this tool with intelligent technical approaches
creates a powerful formula for the savvy investors.
This paper propose a generalization to box counting method of
Grassberger-Procaccia, which is based on computing the correlation
dimension of Japanese candlesticks instead commonly used 'close'
points. The results of this method applied on several foreign
exchange rates vs. IRR (Iranian Rial). Satisfactorily show lower
chaotic dimension of Japanese candlesticks series than regular
Grassberger-Procaccia method applied merely on close points of
these same candles. This means there is some valuable information
inside candlesticks.
Abstract: In competitive electricity markets all over the world, an adoption of suitable transmission pricing model is a problem as transmission segment still operates as a monopoly. Transmission pricing is an important tool to promote investment for various transmission services in order to provide economic, secure and reliable electricity to bulk and retail customers. The nodal pricing based on SRMC (Short Run Marginal Cost) is found extremely useful by researchers for sending correct economic signals. The marginal prices must be determined as a part of solution to optimization problem i.e. to maximize the social welfare. The need to maximize the social welfare subject to number of system operational constraints is a major challenge from computation and societal point of views. The purpose of this paper is to present a nodal transmission pricing model based on SRMC by developing new mathematical expressions of real and reactive power marginal prices using GA-Fuzzy based optimal power flow framework. The impacts of selecting different social welfare functions on power marginal prices are analyzed and verified with results reported in literature. Network revenues for two different power systems are determined using expressions derived for real and reactive power marginal prices in this paper.
Abstract: The purpose of this study was to explore the
demographic differences of international tourists according to three
main factors, including the value of time, shopping behavior and
shopping motivation. The Chatuchak Weekend Market is known as
one of the biggest weekend markets in the world. Too little academic
studies had been conducted in this area of weekend market, despite its
growth and continuous development. In general, both domestic
visitors and international tourists are attracted to the perception of
cheap and bargaining prices the weekend market. However, systematic
research study can provide reliable understanding of the perception of
the visitors.
This study focused on the group of international tourists who visited
the market and aimed to provide better insights based on the
differences in their demographic factors. Findings indicated that
several differences in value of time, shopping behavior, and shopping
motivation were identified by gender, income and age. Research
implications and directions for further studies were discussed.
Abstract: International markets driven forces are changing
continuously, therefore companies need to gain a competitive edge in
such markets. Improving the company's products, processes and
practices is no longer auxiliary. Lean production is a production
management philosophy that consolidates work tasks with minimum
waste resulting in improved productivity. Lean production practices
can be mapped into many production areas. One of these is
Manufacturing Equipment and Technology (MET). Many lean
production practices can be implemented in MET, namely, specific
equipment configurations, total preventive maintenance, visual
control, new equipment/ technologies, production process
reengineering and shared vision of perfection.The purpose of this
paper is to investigate the implementation level of these six practices
in Jordanian industries. To achieve that a questionnaire survey has
been designed according to five-point Likert scale. The questionnaire
is validated through pilot study and through experts review. A sample
of 350 Jordanian companies were surveyed, the response rate was
83%. The respondents were asked to rate the extent of
implementation for each of practices. A relationship conceptual
model is developed, hypotheses are proposed, and consequently the
essential statistical analyses are then performed. An assessment tool
that enables management to monitor the progress and the
effectiveness of lean practices implementation is designed and
presented. Consequently, the results show that the average
implementation level of lean practices in MET is 77%, Jordanian
companies are implementing successfully the considered lean
production practices, and the presented model has Cronbach-s alpha
value of 0.87 which is good evidence on model consistency and
results validation.
Abstract: This study employs a bivariate asymmetric GARCH
model to reveal the hidden dynamics price changes and volatility
among the emerging markets of Thailand and Malaysian after the
Asian financial crisis from January 2001 to December 2008. Our
results indicated that the equity markets are sharing the common
information (shock) that transmitted among each others. These
empirical findings are used to demonstrate the importance of shock
and volatility dynamic transmissions in the cross-market hedging and
market risk.
Abstract: Model Predictive Control (MPC) is increasingly being
proposed for real time applications and embedded systems. However
comparing to PID controller, the implementation of the MPC in
miniaturized devices like Field Programmable Gate Arrays (FPGA)
and microcontrollers has historically been very small scale due to its
complexity in implementation and its computation time requirement.
At the same time, such embedded technologies have become an
enabler for future manufacturing enterprises as well as a transformer
of organizations and markets. Recently, advances in microelectronics
and software allow such technique to be implemented in embedded
systems. In this work, we take advantage of these recent advances
in this area in the deployment of one of the most studied and
applied control technique in the industrial engineering. In fact in
this paper, we propose an efficient framework for implementation
of Generalized Predictive Control (GPC) in the performed STM32
microcontroller. The STM32 keil starter kit based on a JTAG interface
and the STM32 board was used to implement the proposed GPC
firmware. Besides the GPC, the PID anti windup algorithm was
also implemented using Keil development tools designed for ARM
processor-based microcontroller devices and working with C/Cµ
langage. A performances comparison study was done between both
firmwares. This performances study show good execution speed and
low computational burden. These results encourage to develop simple
predictive algorithms to be programmed in industrial standard hardware.
The main features of the proposed framework are illustrated
through two examples and compared with the anti windup PID
controller.
Abstract: Amongst the consistently fluctuating conditions
prevailing today, changeability represents a strategic key factor for a
manufacturing company to achieve success on the international
markets. In order to cope with turbulences and the increasing level of
incalculability, not only the flexible design of production systems but
in particular the employee as enabler of change provide the focus
here. It is important to enable employees from manufacturing
companies to participate actively in change events and in change
decisions. To this end, the learning factory has been created, which is
intended to serve the development of change-promoting competences
and the sensitization of employees for the necessity of changes.
Abstract: The purpose of this study is to analyze Green IT industry in major developed countries and to suggest overall directions for IT-Energy convergence industry. Recently, IT industry is pointed out as a problem such as environmental pollution, energy exhaustion, and high energy consumption. Therefore, Green IT gets focused which concerns as solution of these problems. However, since it is a beginning stage of this convergence area, there are only a few studies of IT-Energy convergence industry. According to this, this study examined the major developed countries in terms of institution arrangements, resources, markets and companies based on Van de Ven(1999)'s social system framework that shows relationship among key components of industrial infrastructure. Subsequently, the direction of the future study of convergence on IT and Energy industry is proposed.
Abstract: This paper has presented research in progress
concerning the contribution of target costing approach to
achievement competitive price in the Iraqi firm. The title of the
paper is one of the subjects that get large concerns in the finance and
business world in the present time. That is because many competitive
firms have appeared in the regional and global markets and the rapid
changes that covered all fields of life. On the other hand, this paper
concentrated on lack knowledge of the industrial firms, regarding the
significant role of target cost for achieving the competitive prices.
The paper depends on the main supposition, using the competitive
price to get the target cost in the industrial firms. In order to achieve
competitive advantage in business world the firms should rely on
modern methods to manage cost and profit. From strategic
perspective the target cost achieves a so powerful competitive
advantage represented in cost reduction. Nevertheless the target cost
does not exclude the calculation and survey of costs during the
production process. Products- estimated costs are calculated and
compared with the target costs.
Abstract: For the first incumbent operator it is very important
to understand how to react when the second operator comes to the
market. In this paper which is prepared for preliminary study of
GSM market in Iran, we have studied five MENA markets
according to the similarity point of view. This paper aims at
analyzing the impact of second entrants in selected markets on
certain marketing key performance indicators (KPI) such as:
Market shares (by operator), prepaid share, minutes of use (MoU),
Price and average revenue per user (ARPU) (for total market
each).
Abstract: There are three distinct stages in the evolution of
economic thought, namely:
1. in the first stage, the major concern was to accelerate
economic growth with increased availability of material
goods, especially in developing economies with very low
living standards, because poverty eradication meant faster
economic growth.
2. in the second stage, economists made distinction between
growth and development. Development was seen as going
beyond economic growth, and bringing certain changes in
the structure of the economy with more equitable
distribution of the benefits of growth, with the growth
coming automatic and sustained.
3. the third stage is now reached. Our concern is now with
“sustainable development", that is, development not only
for the present but also of the future.
Thus the focus changed from “sustained growth" to “sustained
development". Sustained development brings to the fore the long
term relationship between the ecology and economic development.
Since the creation of UNEP in 1972 it has worked for
development without destruction for environmentally sound and
sustained development. It was realised that the environment cannot
be viewed in a vaccum, it is not separate from development, nor is it
competing. It suggested for the integration of the environment with
development whereby ecological factors enter development planning,
socio-economic policies, cost-benefit analysis, trade, technology
transfer, waste management, educational and other specific areas.
Industrialisation has contributed to the growth of economy of
several countries. It has improved the standards of living of its people
and provided benefits to the society. It has also created in the process
great environmental problems like climate change, forest destruction
and denudation, soil erosion and desertification etc.
On the other hand, industry has provided jobs and improved the
prospects of wealth for the industrialists. The working class
communities had to simply put up with the high levels of pollution in
order to keep up their jobs and also to save their income.
There are many roots of the environmental problem. They may be
political, economic, cultural and technological conditions of the
modern society. The experts concede that industrial growth lies
somewhere close to the heart of the matter. Therefore, the objective
of this paper is not to document all roots of an environmental crisis
but rather to discuss the effects of industrial growth and
development.
We have come to the conclusion that although public intervention
is often unnecessary to ensure that perfectly competitive markets will
function in society-s best interests, such intervention is necessary
when firms or consumers pollute.
Abstract: The concurrent era is characterised by strengthened interactions among financial markets and increased capital mobility globally. In this frames we examine the effects the international financial integration process has on the European bond markets. We perform a comparative study of the interactions of the European and international bond markets and exploit Cointegration analysis results on the elimination of stochastic trends and the decomposition of the underlying long run equilibria and short run causal relations. Our investigation provides evidence on the relation between the European integration process and that of globalisation, viewed through the bond markets- sector. Additionally the structural formulation applied, offers significant implications of the findings. All in all our analysis offers a number of answers on crucial queries towards the European bond markets integration process.
Abstract: the research was conducted using the self report of
shoplifters who apprehended in the supermarket while stealing. 943
shoplifters in three years were interviewed right after the stealing act
and before calling the police. The aim of the study is to know the
shoplifting characteristics in Saudi Arabia, including the trait of
shoplifters and the situation of the supermarkets where the stealing
takes place. The analysis based on the written information about each
thief as the documentary research method. Descriptive statistics as
well as some inferential statistics were employed. The result shows
that there are differences between genders, age groups, occupations,
time of the day, days of the week, months, way of stealing, individual
or group of thieves and other supermarket situations in the type of
items stolen, total price and the count of items. The result and the
recommendation will serve as a guide for retailers where, when and
who to look at to prevent shoplifting.
Abstract: Increase in globalization of capital markets brings the
higher requirements on financial information provided for investors
who look for a highly comparable information. Paper deals with the
advantages and limitations of applying International Financial
Reporting Standards (IFRS) in the Czech Republic and Ukraine. As a
greatest limit for full adoption of IFRS shall be acknowledged the
strong connection of continental accounting to tax system and
enormous high administrative burden for IFRS appliers.
Abstract: The purpose of this article is to analyze the
degree of concentration in the banking market in EU member
states as well as to determine the impact of the length of EU
membership on the degree of concentration. In that sense
several analysis were conducted, specifically, panel analysis,
calculation of correlation coefficient and regression analysis of
the impact of the length of EU membership on the degree of
concentration. Panel analysis was conducted to determine
whether there is a similar trend of concentration in three
groups of countries - countries with a low, moderate and high
level of concentration. The conducted panel analysis showed
that in EU countries with a moderate level of concentration,
the level of concentration decreases. The calculation of
correlation showed that, to some extent, with other influential
factors, the length of EU membership negatively affects the
market concentration of the banking market. Using the
regression analysis for investigation of the influence of the
length of EU membership on the level of concentration in the
banking sector in a particular country, the results reveal that
there is a negative effect of the length in EU membership on
market concentration, although it is not significantly influential
variable.