Abstract: Recent financial international scandals around the world have led to a number of investigations into the effectiveness of corporate governance practices and audit quality. Although evidence of corporate governance practices and audit quality exists from developed economies, very scanty studies have been conducted in Egypt where corporate governance is just evolving. Therefore, this study provides evidence on the effectiveness of corporate governance practices and audit quality from a developing country. The data for analysis are gathered from the top 50 most active companies in the Egyptian Stock Exchange, covering the three year period 2007-2009. Logistic regression was used in investigating the questions that were raised in the study. Findings from the study show that board independence; CEO duality and audit committees significantly have relationship with audit quality. The results also, indicate that institutional investor and managerial ownership have no significantly relationship with audit quality. Evidence also exist that size of the company; complexity and business leverage are important factors in audit quality for companies quoted on the Egypt Stock Exchange.
Abstract: This paper introduces a new instantaneous frequency
computation approach -Counting Instantaneous Frequency for a
general class of signals called simple waves. The classsimple wave
contains a wide range of continuous signals for which the concept
instantaneous frequency has a perfect physical sense. The concept of
-Counting Instantaneous Frequency also applies to all the discrete data.
For all the simple wave signals and the discrete data, -Counting
instantaneous frequency can be computed directly without signal
decomposition process. The intrinsic mode functions obtained through
empirical mode decomposition belongs to simple wave. So
-Counting instantaneous frequency can be used together with
empirical mode decomposition.
Abstract: Buildings are one of the valuable assets to provide
people with shelters for work, leisure and rest. After years of
attacks by weather, buildings will deteriorate which need proper
maintenance in order to fulfill the requirements and satisfaction of
the users. Poorly managed buildings not just give a negative image
to the city itself, but also pose potential risk hazards to the health
and safety of the general public. As a result, the management of
maintenance projects has played an important role in cities like
Hong Kong where the problem of urban decay has drawn much
attention. However, most research has focused on managing new
construction, and little research effort has been put on maintenance
projects. Given the short duration and more diversified nature of
work, repair and maintenance works are found to be more difficult
to monitor and regulate when compared with new works. Project
participants may face with problems in running maintenance
projects which should be investigated so that proper strategies can
be established. This paper aims to provide a thorough analysis on
the problems of running maintenance projects. A review of
literature on the characteristics of building maintenance projects
was firstly conducted, which forms a solid basis for the empirical
study. Results on the problems and difficulties of running
maintenance projects from the viewpoints of industry practitioners
will also be delivered with a view to formulating effective
strategies for managing maintenance projects successfully.
Abstract: This paper discusses telecominication market developments in Saudi Arabia. Empirical research was carried in the holy city of Makkah to study the customer's preference for mobile cellular service and the factor influencing their subscription of the mobile phone service. Results indicate that the financial factor sicnificantly influence the customer's selection of the service provider.
Abstract: The ever increasing product diversity and competition on the market of goods and services has dictated the pace of growth in the number of advertisements. Despite their admittedly diminished effectiveness over the recent years, advertisements remain the favored method of sales promotion. Consequently, the challenge for an advertiser is to explore every possible avenue of making an advertisement more noticeable, attractive and impellent for consumers. One way to achieve this is through invoking celebrity endorsements. On the one hand, the use of a celebrity to endorse a product involves substantial costs, however, on the other hand, it does not immediately guarantee the success of an advertisement. The question of how celebrities can be used in advertising to the best advantage is therefore of utmost importance. Celebrity endorsements have become commonplace: empirical evidence indicates that approximately 20 to 25 per cent of advertisements feature some famous person as a product endorser. The popularity of celebrity endorsements demonstrates the relevance of the topic, especially in the context of the current global economic downturn, when companies are forced to save in order to survive, yet simultaneously to heavily invest in advertising and sales promotion. The issue of the effective use of celebrity endorsements also figures prominently in the academic discourse. The study presented below is thus aimed at exploring what qualities (characteristics) of a celebrity endorser have an impact on the ffectiveness of the advertisement in which he/she appears and how.
Abstract: The study is aimed to test causal relationship between
growth and unemployment, using time series data for Pakistan from
1972 to 2006. Growth is considered to be a pathway to decrease the
level of unemployment. Unemployment is a social and political
issue. It is a phenomenon where human resources are wasted leading
to deacceleration in growth. Johanson Cointegration shows that there
is long run relationship between growth and unemployment. For
short run dynamics and causality, the study utilizes Vector Error
Correction Model (VECM). The results of VECM indicate that there
is short and long run causal relation between growth and
unemployment including capital, labor and human capital as
explanatory variables.
Abstract: Due to the liberalization of countless electricity markets, load forecasting has become crucial to all public utilities for which electricity is a strategic variable. With the goal of contributing to the forecasting process inside public utilities, this paper addresses the issue of applying the Holt-Winters exponential smoothing technique and the time series analysis for forecasting the hourly electricity load curve of the Italian railways. The results of the analysis confirm the accuracy of the two models and therefore the relevance of forecasting inside public utilities.
Abstract: In this paper, the potential use of an exponential
hidden Markov model to model a hidden pavement deterioration
process, i.e. one that is not directly measurable, is investigated. It is
assumed that the evolution of the physical condition, which is the
hidden process, and the evolution of the values of pavement distress
indicators, can be adequately described using discrete condition states
and modeled as a Markov processes. It is also assumed that condition
data can be collected by visual inspections over time and represented
continuously using an exponential distribution. The advantage of
using such a model in decision making process is illustrated through
an empirical study using real world data.
Abstract: Validity is an overriding consideration in language testing. If a test score is intended for a particular purpose, this must be supported through empirical evidence. This article addresses the validity of a multiple-choice achievement test (MCT). The test is administered at the end of each semester to decide about students' mastery of a course in general English. To provide empirical evidence pertaining to the validity of this test, two criterion measures were used. In so doing, a Cloze test and a C-test which are reported to gauge general English proficiency were utilized. The results of analyses show that there is a statistically significant correlation among participants' scores on the MCT, Cloze, and Ctest. Drawing on the findings of the study, it can be cautiously deduced that these tests measure the same underlying trait. However, allowing for the limitations of using criterion measures to validate tests, we cannot make any absolute claim as to the validity of this MCT test.
Abstract: Effective employee selection is a critical component
of a successful organization. Many important criteria for personnel
selection such as decision-making ability, adaptability, ambition, and
self-organization are naturally vague and imprecise to evaluate. The
rough sets theory (RST) as a new mathematical approach to
vagueness and uncertainty is a very well suited tool to deal with
qualitative data and various decision problems. This paper provides
conceptual, descriptive, and simulation results, concentrating chiefly
on human resources and personnel selection factors. The current
research derives certain decision rules which are able to facilitate
personnel selection and identifies several significant features based
on an empirical study conducted in an IT company in Iran.
Abstract: The purpose of this paper is to investigate the
influence of a number of variables on the conditional mean and
conditional variance of credit spread changes. The empirical analysis
in this paper is conducted within the context of bivariate GARCH-in-
Mean models, using the so-called BEKK parameterization. We show
that credit spread changes are determined by interest-rate and equityreturn
variables, which is in line with theory as provided by the
structural models of default. We also identify the credit spread
change volatility as an important determinant of credit spread
changes, and provide evidence on the transmission of volatility
between the variables under study.
Abstract: This paper proposes method of diagnosing ball screw
preload loss through the Hilbert-Huang Transform （HHT） and
Multiscale entropy （MSE） process. The proposed method can
diagnose ball screw preload loss through vibration signals when the
machine tool is in operation. Maximum dynamic preload of 2 %, 4 %,
and 6 % ball screws were predesigned, manufactured, and tested
experimentally. Signal patterns are discussed and revealed using
Empirical Mode Decomposition（EMD）with the Hilbert Spectrum.
Different preload features are extracted and discriminated using HHT.
The irregularity development of a ball screw with preload loss is
determined and abstracted using MSE based on complexity
perception. Experiment results show that the proposed method can
predict the status of ball screw preload loss. Smart sensing for the
health of the ball screw is also possible based on a comparative
evaluation of MSE by the signal processing and pattern matching of
EMD/HHT. This diagnosis method realizes the purposes of prognostic
effectiveness on knowing the preload loss and utilizing convenience.
Abstract: The search for factors that influence user behavior has remained an important theme for both the academic and practitioner Information Systems Communities. In this paper we examine relevant user behaviors in the phase after adoption and investigate two factors that are expected to influence such behaviors, namely User Involvement (UI) and Personal Innovativeness in IT (PIIT). We conduct a field study to examine how these factors influence postadoption behavior and how they are interrelated. Building on theoretical premises and prior empirical findings, we propose and test two alternative models of the relationship between these factors. Our results reveal that the best explanation of post-adoption behavior is provided by the model where UI and PIIT independently influence post-adoption behavior. Our findings have important implications for research and practice. To that end, we offer directions for future research.
Abstract: Entrepreneurship has become an important and
extensively researched concept in business studies. Research on
foreign direct investment (FDI) has become widespread due to the
growth of FDI and its importance in globalization. Most
entrepreneurship studies examined the importance and influence of
entrepreneurial orientation in a micro-level context. On the other
hand, studies and research concerning FDI used statistical techniques
to analyze the effect, determinants, and motives of FDI on a
macroeconomic level, ignoring empirical studies on other noneconomic
determinants. In order to bridge the gap between the theory
and empirical evidence on FDI and the theory and research on
entrepreneurship, this study examines the impact of entrepreneurship
on inward foreign direct investment. The relationship between
entrepreneurship and foreign direct investment is investigated
through regression analysis of pooled time-series and cross-sectional
data. The results suggest that entrepreneurship has a significant effect
on FDI.
Abstract: This work investigated the steady state and dynamic
simulation of a fixed bed industrial naphtha reforming reactors. The
performance of the reactor was investigated using a heterogeneous
model. For process simulation, the differential equations are solved
using the 4th order Runge-Kutta method .The models were validated
against measured process data of an existing naphtha reforming plant.
The results of simulation in terms of components yields and
temperature of the outlet were in good agreement with empirical data.
The simple model displays a useful tool for dynamic simulation,
optimization and control of naphtha reforming.
Abstract: Scarcity of resources for biodiversity conservation gives rise to the need of strategic investment with priorities given to the cost of conservation. While the literature provides abundant methodological options for biodiversity conservation; estimating true cost of conservation remains abstract and simplistic, without recognising dynamic nature of the cost. Some recent works demonstrate the prominence of economic theory to inform biodiversity decisions, particularly on the costs and benefits of biodiversity however, the integration of the concept of true cost into biodiversity actions and planning are very slow to come by, and specially on a farm level. Conservation planning studies often use area as a proxy for costs neglecting different land values as well as protected areas. These literature consider only heterogeneous benefits while land costs are considered homogenous. Analysis with the assumption of cost homogeneity results in biased estimation; since not only it doesn’t address the true total cost of biodiversity actions and plans, but also it fails to screen out lands that are more (or less) expensive and/or difficult (or more suitable) for biodiversity conservation purposes, hindering validity and comparability of the results. Economies of scope” is one of the other most neglected aspects in conservation literature. The concept of economies of scope introduces the existence of cost complementarities within a multiple output production system and it suggests a lower cost during the concurrent production of multiple outputs by a given farm. If there are, indeed, economies of scope then simplistic representation of costs will tend to overestimate the true cost of conservation leading to suboptimal outcomes. The aim of this paper, therefore, is to provide first road review of the various theoretical ways in which economies of scope are likely to occur of how they might occur in conservation. Consequently, the paper addresses gaps that have to be filled in future analysis.
Abstract: This study attempts to clarify major perspectives of Corporate Social Responsibility (CSR) in the Greek market related to companies that have sufficient CSR. An empirical analysis was undertaken, based on literature review and previous observations and surveys, in order to provide a general analysis of the CSR concept in Greece. The results of Accountability Rating institution were used in order to identify companies that adopt an integrated social responsibility approach. Companies that responded to the survey are both regional and international and belong to different industrial fields. Some of the main survey results reveal: multiple aspects for the CSR concept, weak consensus as regards the importance of stakeholders and benefits from the CSR implementation, the important role of CSR in the decision procedure and CSR practices concerning social issues that affect mostly company-s competitiveness. Sharing companies- experience could address common social issues through CSR best practices and develop new knowledge.
Abstract: Oil debris signal generated from the inductive oil
debris monitor (ODM) is useful information for machine condition
monitoring but is often spoiled by background noise. To improve the
reliability in machine condition monitoring, the high-fidelity signal
has to be recovered from the noisy raw data. Considering that the noise
components with large amplitude often have higher frequency than
that of the oil debris signal, the integral transform is proposed to
enhance the detectability of the oil debris signal. To cancel out the
baseline wander resulting from the integral transform, the empirical
mode decomposition (EMD) method is employed to identify the trend
components. An optimal reconstruction strategy including both
de-trending and de-noising is presented to detect the oil debris signal
with less distortion. The proposed approach is applied to detect the oil
debris signal in the raw data collected from an experimental setup. The
result demonstrates that this approach is able to detect the weak oil
debris signal with acceptable distortion from noisy raw data.
Abstract: This paper examines the factors, which determine
R&D outsourcing behaviour at Japanese firms, from the viewpoints of
transaction cost and strategic management, since the latter half of the
1990s. This study uses empirical analysis, which involves the
application of large-sample data. The principal findings of this paper
are listed below. Firms that belong to a wider corporate group are more
active in executing R&D outsourcing activities. Diversification
strategies such as the expansion of product and sales markets have a
positive effect on the R&D outsourcing behaviour of firms. Moreover,
while quantitative R&D resources have positive influences on R&D
outsourcing, qualitative indices have no effect. These facts suggest
that R&D outsourcing behaviour of Japanese firms are consistent with
the two perspectives of transaction cost and strategic management.
Specifically, a conventional corporate group network plays an
important role in R&D outsourcing behaviour. Firms that execute
R&D outsourcing leverage 'old' networks to construct 'new' networks
and use both networks properly.
Abstract: This paper deals with econometric analysis of real
retail trade turnover. It is a part of an extensive scientific research
about modern trends in Croatian national economy. At the end of the
period of transition economy, Croatia confronts with challenges and
problems of high consumption society. In such environment as
crucial economic variables: real retail trade turnover, average
monthly real wages and household loans are chosen for consequence
analysis. For the purpose of complete procedure of multiple
econometric analysis data base adjustment has been provided.
Namely, it has been necessary to deflate original national statistics
data of retail trade turnover using consumer price indices, as well as
provide process of seasonally adjustment of its contemporary
behavior. In model establishment it has been necessary to involve the
overcoming procedure for the autocorrelation and colinearity
problems. Moreover, for case of time-series shift a specific
appropriate econometric instrument has been applied. It would be
emphasize that the whole methodology procedure is based on the real
Croatian national economy time-series.