Abstract: This work aims to describe the process of developing
services and applications of seamless communication within a
Telecom Italia long-term research project, which takes as central aim
the design of a wearable communication device. In particular, the
objective was to design a wrist phone integrated into everyday life of
people in full transparency. The methodology used to design the
wristwatch was developed through several subsequent steps also
involving the Personas Layering Framework. The data collected in
this phases have been very useful for designing an improved version
of the first two concepts of wrist phone going to change aspects
related to the four critical points expressed by the users.
Abstract: Recent evidences on liquidity and valuation of securities in the capital markets clearly show the importance of stock market liquidity and valuation of firms. In this paper, relationship between transparency, liquidity, and valuation is studied by using data obtained from 70 companies listed in Tehran Stock Exchange during2003-2012. In this study, discriminatory earnings management, as a sign of lack of transparency and Tobin's Q, was used as the criteria of valuation. The results indicate that there is a significant and reversed relationship between earnings management and liquidity. On the other hand, there is a relationship between liquidity and transparency.The results also indicate a significant relationship between transparency and valuation. Transparency has an indirect effect on firm valuation alone or through the liquidity channel. Although the effect of transparency on the value of a firm was reduced by adding the variable of liquidity, the cumulative effect of transparency and liquidity increased.
Abstract: The move towards internationalization of accounting encountered a great boost, when in 2002 EU delegated the IASB to provide the accounting standards to be applied inside its frontiers. Among the incentives of the standardization of accounting on the international level, is the reduction of the cost of capital. Romania made the move towards IFRS before EU, when the country was not yet a member of it. Even if this made Romania a special case, it was scarcely approached. The leak of real data is usually the reason for avoiding. The novelty of this paper is that it offers an insight from the reality of Romanian companies and their view regarding the IFRS. The paper is based on a survey that the authors made among the companies listed on the first two tiers of the Bucharest Stock Exchange (BSE), which are basically, the most important companies in the country.
Abstract: In this paper a novel scheme for watermarking digital
audio during its compression to MPEG-1 Layer III format is
proposed. For this purpose we slightly modify some of the selected
MDCT coefficients, which are used during MPEG audio
compression procedure. Due to the possibility of modifying different
MDCT coefficients, there will be different choices for embedding the
watermark into audio data, considering robustness and transparency
factors. Our proposed method uses a genetic algorithm to select the
best coefficients to embed the watermark. This genetic selection is
done according to the parameters that are extracted from the
perceptual content of the audio to optimize the robustness and
transparency of the watermark. On the other hand the watermark
security is increased due to the random nature of the genetic
selection. The information of the selected MDCT coefficients that
carry the watermark bits, are saves in a database for future extraction
of the watermark. The proposed method is suitable for online MP3
stores to pursue illegal copies of musical artworks. Experimental
results show that the detection ratio of the watermarks at the bitrate
of 128kbps remains above 90% while the inaudibility of the
watermark is preserved.
Abstract: This study examines the influence of information
transparency and corporate governance on purchase directors and
officers liability (D&O) insurance decisions. The results show that
companies with greater information transparency have significant
demand for D&O insurance. Greater transparency in voluntary
disclosures is significantly and positively associated with demand for
insurance, indicating that increasing the degree of information
disclosure reduces information asymmetry for insurers, which
stimulates their willingness to provide greater protection.
Analysis of insured and uninsured subsamples indicates that
uninsured companies have superior corporate governance compared to
insured companies. Although insured companies tend to have weaker
corporate governance structures, they appoint Big 4 firms or industry
experts to compensate for the weakness of their corporate governance.
Empirical results indicate that purchasing D&O insurance can
strengthen external corporate governance and increase companies’
willingness to voluntarily provide more transparent information.
Abstract: This paper focuses on the experimental impacts of
ultrasonic, carbonate and a combination of them on the quality of
fresh kiwi juice. Today, non-thermal methods like ultrasonic, which
have imperceptible effects on some properties of the juice such as
taste, flavor and color, are commonly used for killing
microorganisms.In this paper, some properties of kiwi fruit juice
under ultrasonic, carbonate and a combination of them has been
researched. Those properties include pH, acidity, transparency and
Brix. Its impact on microorganisms has been studied as well.The
results show that using a combination of carbonate and sonicate make
the cavitation more severe without a perceptible effect on nonactivation
of microorganisms.
Abstract: Complexity, as a theoretical background has made it
easier to understand and explain the features and dynamic behavior
of various complex systems. As the common theoretical background
has confirmed, borrowing the terminology for design from the
natural sciences has helped to control and understand urban
complexity. Phenomena like self-organization, evolution and
adaptation are appropriate to describe the formerly inaccessible
characteristics of the complex environment in unpredictable bottomup
systems. Increased computing capacity has been a key element in
capturing the chaotic nature of these systems.
A paradigm shift in urban planning and architectural design has
forced us to give up the illusion of total control in urban
environment, and consequently to seek for novel methods for
steering the development. New methods using dynamic modeling
have offered a real option for more thorough understanding of
complexity and urban processes. At best new approaches may renew
the design processes so that we get a better grip on the complex
world via more flexible processes, support urban environmental
diversity and respond to our needs beyond basic welfare by liberating
ourselves from the standardized minimalism.
A complex system and its features are as such beyond human
ethics. Self-organization or evolution is either good or bad. Their
mechanisms are by nature devoid of reason. They are common in
urban dynamics in both natural processes and gas. They are features
of a complex system, and they cannot be prevented. Yet their
dynamics can be studied and supported.
The paradigm of complexity and new design approaches has been
criticized for a lack of humanity and morality, but the ethical
implications of scientific or computational design processes have not
been much discussed. It is important to distinguish the (unexciting)
ethics of the theory and tools from the ethics of computer aided
processes based on ethical decisions. Urban planning and architecture
cannot be based on the survival of the fittest; however, the natural
dynamics of the system cannot be impeded on grounds of being
“non-human".
In this paper the ethical challenges of using the dynamic models
are contemplated in light of a few examples of new architecture and
dynamic urban models and literature. It is suggested that ethical
challenges in computational design processes could be reframed
under the concepts of responsibility and transparency.
Abstract: Although Model Driven Architecture has taken
successful steps toward model-based software development, this
approach still faces complex situations and ambiguous questions
while applying to real world software systems. One of these
questions - which has taken the most interest and focus - is how
model transforms between different abstraction levels, MDA
proposes. In this paper, we propose an approach based on Story
Driven Modeling and Aspect Oriented Programming to ease these
transformations. Service Oriented Architecture is taken as the target
model to test the proposed mechanism in a functional system.
Service Oriented Architecture and Model Driven Architecture [1]
are both considered as the frontiers of their own domain in the
software world. Following components - which was the greatest step
after object oriented - SOA is introduced, focusing on more
integrated and automated software solutions. On the other hand - and
from the designers' point of view - MDA is just initiating another
evolution. MDA is considered as the next big step after UML in
designing domain.
Abstract: Basel III (or the Third Basel Accord) is a global
regulatory standard on bank capital adequacy, stress testing and
market liquidity risk agreed upon by the members of the Basel
Committee on Banking Supervision in 2010-2011, and scheduled to
be introduced from 2013 until 2018. Basel III is a comprehensive set
of reform measures. These measures aim to; (1) improve the banking
sector-s ability to absorb shocks arising from financial and economic
stress, whatever the source, (2) improve risk management and
governance, (3) strengthen banks- transparency and disclosures.
Similarly the reform target; (1) bank level or micro-prudential,
regulation, which will help raise the resilience of individual banking
institutions to periods of stress. (2) Macro-prudential regulations,
system wide risk that can build up across the banking sector as well
as the pro-cyclical implication of these risks over time. These two
approaches to supervision are complementary as greater resilience at
the individual bank level reduces the risk system wide shocks.
Macroeconomic impact of Basel III; OECD estimates that the
medium-term impact of Basel III implementation on GDP growth is
in the range -0,05 percent to -0,15 percent per year. On the other hand
economic output is mainly affected by an increase in bank lending
spreads as banks pass a rise in banking funding costs, due to higher
capital requirements, to their customers. Consequently the estimated
effects on GDP growth assume no active response from monetary
policy. Basel III impact on economic output could be offset by a
reduction (or delayed increase) in monetary policy rates by about 30
to 80 basis points. The aim of this paper is to create a framework
based on the recent regulations in order to prevent financial crises.
Thus the need to overcome the global financial crisis will contribute
to financial crises that may occur in the future periods. In the first
part of the paper, the effects of the global crisis on the banking
system examine the concept of financial regulations. In the second
part; especially in the financial regulations and Basel III are analyzed.
The last section in this paper explored the possible consequences of
the macroeconomic impacts of Basel III.
Abstract: The utility of expert system generators has been
widely recognized in many applications. Several generators based on
concept of the paradigm object, have been recently proposed. The
generator of oriented object expert system (GSEOO) offers
languages that are often complex and difficult to use. We propose in
this paper an extension of the expert system generator, JESS, which
permits a friendly use of this expert system. The new tool, called
VISUAL JESS, bring two main improvements to JESS. The first
improvement concerns the easiness of its utilization while giving
back transparency to the syntax and semantic aspects of the JESS
programming language. The second improvement permits an easy
access and modification of the JESS knowledge basis. The
implementation of VISUAL JESS is made so that it is extensible and
portable.
Abstract: This study examines the relevance of disclosure
practices in improving the accountability and transparency of
religious nonprofit organizations (RNPOs). The assessment of
disclosure is based on the annual returns of RNPOs for the financial
year 2010. In order to quantify the information disclosed in the
annual returns, partial disclosure indexes of basic information (BI)
disclosure index, financial information (FI) disclosure index and
governance information (GI) disclosure index have been built which
takes into account the content of information items in the annual
returns. The empirical evidence obtained revealed low disclosure
practices among RNPOs in the sample. The multiple regression
results showed that the organizational attribute of the board size
appeared to be the most significant predictor for both partial index on
the extent of BI disclosure index, and FI disclosure index. On the
other hand, the extent of financial information disclosure is related to
the amount of donation received by RNPOs. On GI disclosure index,
the existence of an external audit appeared to be significant variable.
This study has contributed to the academic literature in providing
empirical evidence of the disclosure practices among RNPOs.
Abstract: IT consultants often take over an important role as an
interface between technological, organizational and managerial
structures. As a result, the services offered are in many cases
assigned to different disciplines which can cause a lack of
transparency on the market for consulting services. However, not all
consulting products are suitable for every company because of
different frameworks and business processes. In this context the
questions arises as to what consulting products are currently offered
and how they can be compared as well as how the market for IT
consulting services is structured on the supply side. The presented
study aims to shed light on the IT consulting market by giving an
overview of the current structure of the supply-side for IT consulting
services as well as proposing a categorization of the currently
available consulting services (consulting fields) in order to provide a
theoretical background for the empirical study. Apart from these
theoretical considerations, the empirical results of field surveys on
the Austrian IT consulting market are presented and analyzed.
Abstract: This paper discusses the issues and challenges
concerning the issues of accountability and regulation systems of
cooperative movement in Malaysia.
Abstract: PDMS (Polydimethylsiloxane) polymer is a suitable material for biological and MEMS (Microelectromechanical systems) designers, because of its biocompatibility, transparency and high resistance under plasma treatment. PDMS round channel is always been of great interest due to its ability to confine the liquid with membrane type micro valves. In this paper we are presenting a very simple way to form round shapemicrofluidic channel, which is based on reflow of positive photoresist AZ® 40 XT. With this method, it is possible to obtain channel of different height simply by varying the spin coating parameters of photoresist.
Abstract: The Internet is the global data communications
infrastructure based on the interconnection of both public and private
networks using protocols that implement Internetworking on a global
scale. Hence the control of protocol and infrastructure development,
resource allocation and network operation are crucial and interlinked
aspects. Internet Governance is the hotly debated and contentious
subject that refers to the global control and operation of key Internet
infrastructure such as domain name servers and resources such as
domain names. It is impossible to separate technical and political
positions as they are interlinked. Furthermore the existence of a
global market, transparency and competition impact upon Internet
Governance and related topics such as network neutrality and
security. Current trends and developments regarding Internet
governance with a focus on the policy-making process, security and
control have been observed to evaluate current and future
implications on the Internet. The multi stakeholder approach to
Internet Governance discussed in this paper presents a number of
opportunities, issues and developments that will affect the future
direction of the Internet. Internet operation, maintenance and
advisory organisations such as the Internet Corporation for Assigned
Names and Numbers (ICANN) or the Internet Governance Forum
(IGF) are currently in the process of formulating policies for future
Internet Governance. Given the controversial nature of the issues at
stake and the current lack of agreement it is predicted that
institutional as well as market governance will remain present for the
network access and content.
Abstract: Intellectual capital reporting becomes critical at
universities, mainly due to the fact that knowledge is the main output
as well as input in these institutions. In addition, universities have
continuous external demands for greater information and
transparency about the use of public funds, and are increasingly
provided with greater autonomy regarding their organization,
management, and budget allocation. This situation requires new
management and reporting systems. The purpose of the present study
is to provide a model for intellectual capital report in Spanish
universities. To this end, a questionnaire was sent to every member of
the Social Councils of Spanish public universities in order to identify
which intangible elements university stakeholders demand most. Our
proposal for an intellectual capital report aims to act as a guide to
help the Spanish universities on the road to the presentation of
information on intellectual capital which can assist stakeholders to
make the right decisions.