Abstract: This paper examines the relationship between
corporate governance rating and stock prices of 26 Turkish firms
listed in Turkish stock exchange (Borsa Istanbul) by using panel data
analysis over five-year period. The paper also investigates the stock
performance of firms with governance rating with regards to the
market portfolio (i.e. BIST 100 Index) both prior and after
governance scoring began. The empirical results show that there is no
relation between corporate governance rating and stock prices when
using panel data for annual variation in both rating score and stock
prices. Further analysis indicates surprising results that while the
selected firms outperform the market significantly prior to rating, the
same performance does not continue afterwards.
Abstract: In developing countries, one of the most important
restrictions about the economic growth is the lack of national savings
which are supposed to finance the investments. In order to overcome
this restriction and achieve the higher rate of economic growth by
increasing the level of output, countries choose the external
borrowing. However, there is a dispute in the literature over the
correlation between external debt and economic growth. The aim of
this study is to examine the effects of external debt on Turkish
economic growth by using VAR analysis with the quarterly data over
the period of 2002:01-2014:04. In this respect, Johansen
Cointegration Test, Impulse- Response Function and Variance
Decomposition Tests will be used for analyses. Empirical findings
show that there is no cointegration in the long run.
Abstract: This paper shows the general perceptions of Spanish
university stakeholders in relation to the university’s annual reports
and the adequacy and potential of intellectual capital reporting. To
this end, a questionnaire was designed and sent to every member of
the Social Councils of Spanish public universities. It was thought that
these participants would provide a good example of the attitude of
university stakeholders since they represent the different social
groups connected with universities. From the results of this study we
are in the position of confirming the need for universities to offer
information on intellectual capital in their accounting information
model.
Abstract: DNA Barcode provides good sources of needed
information to classify living species. The classification problem has
to be supported with reliable methods and algorithms. To analyze
species regions or entire genomes, it becomes necessary to use the
similarity sequence methods. A large set of sequences can be
simultaneously compared using Multiple Sequence Alignment which
is known to be NP-complete. However, all the used methods are still
computationally very expensive and require significant computational
infrastructure. Our goal is to build predictive models that are highly
accurate and interpretable. In fact, our method permits to avoid the
complex problem of form and structure in different classes of
organisms. The empirical data and their classification performances
are compared with other methods. Evenly, in this study, we present
our system which is consisted of three phases. The first one, is called
transformation, is composed of three sub steps; Electron-Ion
Interaction Pseudopotential (EIIP) for the codification of DNA
Barcodes, Fourier Transform and Power Spectrum Signal Processing.
Moreover, the second phase step is an approximation; it is
empowered by the use of Multi Library Wavelet Neural Networks
(MLWNN). Finally, the third one, is called the classification of DNA
Barcodes, is realized by applying the algorithm of hierarchical
classification.
Abstract: This study utilizes a frequency domain approach over
the period of 1996 to 2013 to examine the causal relationship between
governance and economic growth in ten Asian countries, which have
different levels of democracy; classified as “Free”, “Partly Free”, and
“Not Free” countries. The empirical results show that there is no
Granger causality running from governance to economic growth in
“Not Free” countries and “Partly Free” countries with the exception of
Singapore. As for “Free” countries such as South Korea and Taiwan,
there is a one-way causality running from governance to economic
growth. The findings of this study indicate that policy makers in South
Korea, Taiwan, and Singapore could use governance index to improve
their predictions of the future economic growth.
Abstract: This paper describes a new approach which can be
used to interpret the experimental creep deformation data obtained
from miniaturized thin plate bending specimen test to the
corresponding uniaxial data based on an inversed application of the
reference stress method. The geometry of the thin plate is fully
defined by the span of the support, l, the width, b, and the thickness,
d. Firstly, analytical solutions for the steady-state, load-line creep
deformation rate of the thin plates for a Norton’s power law under
plane stress (b→0) and plane strain (b→∞) conditions were obtained,
from which it can be seen that the load-line deformation rate of the
thin plate under plane-stress conditions is much higher than that
under the plane-strain conditions. Since analytical solution is not
available for the plates with random b-values, finite element (FE)
analyses are used to obtain the solutions. Based on the FE results
obtained for various b/l ratios and creep exponent, n, as well as the
analytical solutions under plane stress and plane strain conditions, an
approximate, numerical solutions for the deformation rate are
obtained by curve fitting. Using these solutions, a reference stress
method is utilised to establish the conversion relationships between
the applied load and the equivalent uniaxial stress and between the
creep deformations of thin plate and the equivalent uniaxial creep
strains. Finally, the accuracy of the empirical solution was assessed
by using a set of “theoretical” experimental data.
Abstract: Artificial neural networks have gained a lot of interest
as empirical models for their powerful representational capacity,
multi input and output mapping characteristics. In fact, most feedforward
networks with nonlinear nodal functions have been proved to
be universal approximates. In this paper, we propose a new
supervised method for color image classification based on selforganizing
feature maps (SOFM). This algorithm is based on
competitive learning. The method partitions the input space using
self-organizing feature maps to introduce the concept of local
neighborhoods. Our image classification system entered into RGB
image. Experiments with simulated data showed that separability of
classes increased when increasing training time. In additional, the
result shows proposed algorithms are effective for color image
classification.
Abstract: The paper provides a comprehensive analysis of the
sustainable development in the Belgrade Metropolitan Region - BMA
(level NUTS 2) preliminary evaluating the three chosen components:
1) economic growth and developmental changes; 2) competitiveness;
and 3) territorial concentration and industrial specialization. First, we
identified the main results of development changes and economic
growth by applying Shift-share analysis on the metropolitan level.
Second, the empirical evaluation of competitiveness in the BMA is
based on the analysis of absolute and relative values of eight
indicators by Spider method. Paper shows that the consideration of
the national share, industrial mix and metropolitan/regional share in
total Shift share of the BMA, as well as economic/functional
specialization of the BMA indicate very strong process of
deindustrialization. Allocative component of the BMA economic
growth has positive value, reflecting the above-average sector
productivity compared to the national average. Third, the important
positive role of metropolitan/regional component in decomposition of
the BMA economic growth is highlighted as one of the key results.
Finally, comparative analysis of the industrial territorial
concentration in the BMA in relation to Serbia is based on location
quotient (LQ) or Balassa index as a valid measure. The results
indicate absolute and relative differences in decrease of industry
territorial concentration as well as inefficiency of utilizing territorial
capital in the BMA. Results are important for the increase of regional
competitiveness and territorial distribution in this area as well as for
improvement of sustainable metropolitan and sector policies,
planning and governance on this level.
Abstract: The aim of this research is to clarify the difference by
industry segment or product characteristics as regards organisation
management for an open innovation to raise R&D performance. In
particular, the trait of the pharmaceutical industry is defined in
comparison with IT component industry segment. In considering open
innovation, both inter-organisational relation and the management in
an organisation are important issues. As methodology, a questionnaire
was conducted. In conclusion, suitable organisation management
according to the difference in industry segment or product
characteristics became clear.
Abstract: Socio-economic development, which is seen around
the world today, has contributed to the emergence of new problems
of a social nature. Different political, historical, geographical or
economic conditions cause that, in addition to global issues of social
policy such as an aging population, unemployment, migration,
countries, regions, there are also specific new problems that require
diagnosis, individualized approach and efficient, planned solutions.
These should include, among others, digital addiction, peer violence,
obesity among children, the problem of ‘legal highs’, stress,
depression, diseases associated with environmental pollution etc. The
central authorities, selected most often with the tools specific to
representative democracy, that is, the general election, for many
reasons, inter alia, organizational, communication, are not able to
effectively diagnose their intensity, territorial distribution, and thus to
effectively fight them. This article aims to show how in Poland,
citizens influence solving problems related to the broader social
policy implemented at the local government level and indicates the
possibilities of improving those solutions. The conclusions of
theoretical analysis have been supported by empirical studies, which
tested the use of instruments of participatory democracy in the
planning and creation of communal strategies for solving social
problems in one of the Polish voivodeships.
Abstract: The main objective of this article is to examine the
impact of interest rates on investments in Poland in the context of
financial crisis. The paper also investigates the dependence of bank
loans to enterprises on interbank market rates. The article studies the
impact of interbank market rate on the level of investments in Poland.
Besides, this article focuses on the research of the correlation
between the level of corporate loans and the amount of investments
in Poland in order to determine the indirect impact of central bank
interest rates through the transmission mechanism of monetary policy
on the real economy. To achieve the objective we have used
econometric and statistical research methods like: econometric model
and Pearson correlation coefficient.
This analysis suggests that the central bank reference rate
inversely proportionally affects the level of investments in Poland
and this dependence is moderate. This is also important issue because
it is related to preparing of Poland to accession to euro area. The
research is important from both theoretical and empirical points of
view. The formulated conclusions and recommendations determine
the practical significance of the paper which may be used in the
decision making process of monetary and economic authorities of the
country.
Abstract: Academicians at the Arab Open University have
always voiced their concern about the efficacy of the blended
learning process. Based on 75% independent study and 25% face-toface
tutorial, it poses the challenge of the predisposition to
adjustment. Being used to the psychology of traditional educational
systems, AOU students cannot be easily weaned from being spoonfed.
Hence they lack the motivation to plunge into self-study. For
better involvement of AOU students into the learning practices, it is
imperative to diagnose the factors that impede or increase their
motivation. This is conducted through an empirical study grounded
upon observations and tested hypothesis and aimed at monitoring and
optimizing the students’ learning outcome. Recommendations of the
research will follow the findings.
Abstract: This paper addresses a cutting edge method of
business demand forecasting, based on an empirical probability
function when the historical behavior of the data is random.
Additionally, it presents error determination based on the numerical
method technique ‘propagation of errors.’ The methodology was
conducted characterization and process diagnostics demand planning
as part of the production management, then new ways to predict its
value through techniques of probability and to calculate their mistake
investigated, it was tools used numerical methods. All this based on
the behavior of the data. This analysis was determined considering
the specific business circumstances of a company in the sector of
communications, located in the city of Bogota, Colombia. In
conclusion, using this application it was possible to obtain the
adequate stock of the products required by the company to provide its
services, helping the company reduce its service time, increase the
client satisfaction rate, reduce stock which has not been in rotation
for a long time, code its inventory, and plan reorder points for the
replenishment of stock.
Abstract: We present a refined multiscale Shannon entropy for
analyzing electroencephalogram (EEG), which reflects the underlying
dynamics of EEG over multiple scales. The rationale behind
this method is that neurological signals such as EEG possess
distinct dynamics over different spectral modes. To deal with the
nonlinear and nonstationary nature of EEG, the recently developed
empirical mode decomposition (EMD) is incorporated, allowing a
decomposition of EEG into its inherent spectral components, referred
to as intrinsic mode functions (IMFs). By calculating the Shannon
entropy of IMFs in a time-dependent manner and summing them over
adaptive multiple scales, it results in an adaptive subscale entropy
measure of EEG. Simulation and experimental results show that
the proposed entropy properly reveals the dynamical changes over
multiple scales.
Abstract: Software fault prediction models are created by using
the source code, processed metrics from the same or previous version
of code and related fault data. Some company do not store and keep
track of all artifacts which are required for software fault prediction.
To construct fault prediction model for such company, the training
data from the other projects can be one potential solution. Earlier we
predicted the fault the less cost it requires to correct. The training
data consists of metrics data and related fault data at function/module
level. This paper investigates fault predictions at early stage using the
cross-project data focusing on the design metrics. In this study,
empirical analysis is carried out to validate design metrics for cross
project fault prediction. The machine learning techniques used for
evaluation is Naïve Bayes. The design phase metrics of other projects
can be used as initial guideline for the projects where no previous
fault data is available. We analyze seven datasets from NASA
Metrics Data Program which offer design as well as code metrics.
Overall, the results of cross project is comparable to the within
company data learning.
Abstract: The need to use high volumes of data and the high
competition are only two reasons which make necessary the use of
information technologies. The objective of our research is to establish
the impact of information technologies on the accounting department
of the Romanian companies. In order to achieve it, starting from the
literature review we made an empirical research based on a
questionnaire. We investigated the types of technologies used, the
reasons which led to the implementation of certain technologies, the
benefits brought by the use of the information technologies, the
difficulties brought by the implementation and the future effects of
the applications. The conclusions show that there is an evolution in
the degree of implementation of the information technologies in the
Romanian companies, compared with the results of other studies
conducted a few years before.
Abstract: Networking is important among students to achieve
better understanding. Social networking plays an important role in the
education. Realizing its huge potential, various organizations,
including institutions of higher learning have moved to the area of
social networks to interact with their students especially through
Facebook. Therefore, measuring the effectiveness of Facebook as a
learning tool has become an area of interest to academicians and
researchers. Therefore, this study tried to integrate and propose new
theoretical and empirical evidences by linking the western idea of
adopting Facebook as an alternative learning platform from a
Malaysian perspective. This study, thus, aimed to fill a gap by being
among the pioneering research that tries to study the effectiveness of
adopting Facebook as a learning platform across other cultural
settings, namely Malaysia. Structural equation modeling was
employed for data analysis and hypothesis testing. This study finding
has provided some insights that would likely affect students’
awareness towards using Facebook as an alternative learning
platform in the Malaysian higher learning institutions. At the end,
future direction is proposed.
Abstract: The aim of this exploratory research is to understand
further how organisations can evaluate their activities, which
generate knowledge creation, to meet changing stakeholder
expectations. A Scale of Knowledge (SoK) Framework is proposed
which links knowledge management and organisational activities to
changing stakeholder expectations. The framework was informed by
the knowledge management literature, as well as empirical work
conducted via a single case study of a multi-site hospital organisation
in Saudi Arabia. Eight in-depth semi-structured interviews were
conducted with managers from across the organisation regarding
current and future stakeholder expectations, organisational
strategy/activities and knowledge management. Data were analysed
using thematic analysis and a hierarchical value map technique to
identify activities that can produce further knowledge and
consequently impact on how stakeholder expectations are met.
The SoK Framework developed may be useful to practitioners as
an analytical aid to determine if current organisational activities
produce organisational knowledge which helps them meet
(increasingly higher levels of) stakeholder expectations. The
limitations of the research and avenues for future development of the
proposed framework are discussed.
Abstract: This paper adopts a two-stage data envelopment
analysis to explore the impacts of financial development and bank
operating scale on bank efficiencies. The sample comprises
unbalanced panel data of 32 Taiwanese listed domestic commercial
banks over the period 1998 to 2013. Empirical results show that pure
technical efficiency is positively related to financial development,
whereas the effect of financial development on scale efficiency is
insignificant. Enlargement of bank operating scale improves bank
efficiencies, but the efficiency gains are decreased gradually when the
scale increases. Increases in capital adequacy ratio and market power
of loans lead into a growth of bank efficiencies.
Abstract: This study attempts to identify the factors influencing
on women empowerment of rural area in Sri Lanka through micro
finance services. Data were collected from one hundred (100) rural
women involving self-employment activities through a questionnaire
using direct personal interviews. Judgment and Convenience Random
sampling technique was used to select the sample size from three
Divisional Secretariat divisions of Kandawalai, Poonakari and
Karachchi in Kilinochchi District. The factor analysis was performed
on fourteen (14) variables for screening and reducing the variables to
identify the influencing factors on empowerment. Multiple regression
analysis was used to identify the relationship between the three
empowerment factors and the impact of micro finance on overall
empowerment of rural women. The result of this study summarized
the variables into three factors namely decision making, freedom to
mobility and family support and which are positively associated with
empowerment. In addition to this the value of adjusted R2 is 0.248
indicates that all the variables extracted can be explained 24.8% of
the variation in the women empowerment through microfinance.
Independent variables of these three factors have positive correlation
with women empowerment as well as significant values at 5 percent
level.