Abstract: Successful public-private-partnership (PPP)
implementation can not be achieved without the active participation of
private sector companies. This paper examines the decision-making of
private sector companies in public works delivered by the PPP model
on the basis of social responsibility theory. It proposes that private
sector companies should indentify objectives of entering into PPP
projects, and shoulder relevant social responsibilities, while a
minimum return should also be guaranteed in their favor, so as to
compensate for their assumed risk and support them to take on
responsibilities in the future. The paper also gives a calculation
regarding the appropriate scale and reasonable degree of private sector
involvement in PPP projects through the cost-benefit analysis in a
specific case study, with the purpose to guide the private sector
companies to create a cooperation environment resembling
“symbiosis" and facilitate the smooth implementation of public works
delivered by the PPP model.
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: Recently, the design is becoming important in product development. The technology which is a strong point of Japan is immediately caught up by the foreign countries, and the price competition begins. Therefore companies tend to plan differentiation of products by the design or a color. The purpose of my work was to consider the optimal color for using by product development. We needed to clarify the thing leading to color preference for this purpose. Two kinds of investigations were made. By the first investigation, we found out that a geographical factor difference existed in color preference. Then, investigation which regarded the difference as latitude was conducted. However, the result expected from the difference in latitude was not obtained. It seems that it is necessary to set up difference of latitude a little more greatly, or to reexamine by other geographical factors.
Abstract: The present study investigated the relationship
between personality characteristics of drivers and the number and
amount of fines they have in a year .This study was carried out on
120 male taxi drivers that worked at least seven hours in a day in
Lamerd - a city in the south of IRAN. Subjects were chosen
voluntarily among those available. Predictive variables were the NEO
–five great personality factors (1. conscientiousness 2. Openness to
Experience 3.Neuroticism4 .Extraversion 5.Agreeableness )
thecriterion variables were the number and amount of fines the
drivers have had the last three years. the result of regression analysis
showed that conscientiousness factor was able to negatively predict
the number and amount of financial fines the drivers had during the
last three years. The openness factor positively predicted the number
of fines they had in last 3 years and the amount of financial fines
during the last year. The extraversion factor both meaningfully and
positively could predict only the amount of financial fines they had
during the last year. Increasing age was associated with decreasing
driving offenses as well as financial loss.The findings can be useful
in recognizing the high-risk drivers and leading them to counseling
centers .They can also be used to inform the drivers about their
personality and it’s relation with their accident rate. Such criteria
would be of great importance in employing drivers in different places
such as companies, offices etc…
Abstract: The aim of this paper is to examine factors related to system environment (namely, system quality and vendor support) that influences ERP implementation success in Iranian companies. Implementation success is identified using user satisfaction and organizational impact perspective. The study adopts the survey questionnaire approach to collect empirical data. The questionnaire was distributed to ERP users and a total of 384 responses were used for analysis. The results illustrated that both system quality and vendor support have significant effect on ERP implementation success. This implies that companies must ensure they source for the best available system and a vendor that is dependable, reliable and trustworthy.
Abstract: In this paper, we propose a hybrid machine learning
system based on Genetic Algorithm (GA) and Support Vector
Machines (SVM) for stock market prediction. A variety of indicators
from the technical analysis field of study are used as input features.
We also make use of the correlation between stock prices of different
companies to forecast the price of a stock, making use of technical
indicators of highly correlated stocks, not only the stock to be
predicted. The genetic algorithm is used to select the set of most
informative input features from among all the technical indicators.
The results show that the hybrid GA-SVM system outperforms the
stand alone SVM system.
Abstract: Westudy a dual-channel supply chain under
decentralized setting in which manufacturer sells to retailer and to
customers directly usingan online channel. A customer chooses the
purchase-channel based on price and service quality. Also, to buy
product from the retail store, the customer incurs a transportation cost
influenced by the fluctuating gasoline cost. Both companies are under
the revenue sharing contract. In this contract the retailer share a
portion of the revenue to the manufacturer while the manufacturer
will charge the lower wholesales price. The numerical result shows
that the effects of gasoline costs, the revenue sharing ratio and the
wholesale price play an important role in determining optimal prices.
The result shows that when the gasoline price fluctuatesthe optimal
on-line priceis relatively stable while the optimal retail price moves
in the opposite direction of the gasoline prices.
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: The use and management of projects has risen to
a new prominence, with projects seen as critical to economic in
both the private and public sectors due challenging and dynamic
business environment. However, failure in managing project is
encountered regularly, which cause the waste of company
resources. The impacts of projects that failed to meet
stakeholders expectations have left behind long lasting negative
consequences in organization. Therefore, this research aims to
investigate on key success factors of project management in an
organization. It is believed that recognizing important factors
that contribute to successful project will help companies to
increase the overall profitability. 150 questionnaires were
distributed to respondents and 110 questionnaires were collected
and used in performing the data analysis. The result has strongly
supported the relationship between independent variables and
project performance.
Abstract: The increasing demand for sufficient and clean
energy forces industrial and service companies to align their strategies towards efficient consumption. This trend refers also to the
residential building sector. There, large amounts of energy consumption are caused by house and facility heating. Many of the
operated hot water heating systems lack hydraulic balanced working
conditions for heat distribution and –transmission and lead to
inefficient heating. Through hydraulic balancing of heating systems,
significant energy savings for primary and secondary energy can be
achieved. This paper addresses the use of KNX-technology (Smart
Buildings) in residential buildings to ensure a dynamic adaption of
hydraulic system's performance, in order to increase the heating
system's efficiency. In this paper, the procedure of heating system
segmentation into hydraulically independent units (meshes) is
presented. Within these meshes, the heating valve are addressed and
controlled by a central facility server. Feasibility criteria towards
such drivers will be named. The dynamic hydraulic balance is
achieved by positioning these valves according to heating loads, that
are generated from the temperature settings in the corresponding
rooms. The energetic advantages of single room heating control
procedures, based on the application FacilityManager, is presented.
Abstract: Innovation is being view from four areas of
innovation, product, service, technology, and marketing. Whereas
customer loyalty is composed of customer expectation, perceived
quality, perceived value, corporate image, customer satisfaction,
customer trust/confidence, customer commitment, customer
complaint, and customer loyalty. This study aimed to investigate the
influence of innovation factors to customer loyalty to GSM in the
telecom companies where use of products and services. Structural
Equation Modeling (SEM) using to analyze innovation factors. It was
found the factor of innovation have significant influence on customer
loyalty.
Abstract: For the efficient and safe use of the cable-stayed
bridge, a design based on the detailed local analysis of the cable anchor
system is required. Also, a theoretical design process for the anchor
system should be prepared and reviewed. Generally, the size of the
fixing pipe in the anchor system is decided according to the
specifications prepared by cable-manufacturing companies, and
accordingly, there is difficulty determining the initial inner diameters
of the fixing pipes. As such, there is no choice but to use the products
with the existing sizes. In this study, the existing design process of the
fixing pipe, is a type of guide pipe anchor in the cable anchor system,
is reviewed, a formula determining the thickness of the fixing pipe is
proposed, and the convenience and validity of the suggested equation
is compared with the results of the existing designs to verify its
convenience and validity.
Abstract: Aluminothermic rail welding was from the beginning
a great success because its low price even in 1895 in Germany. This
method is now, widely used all over the world for the railways
construction, maintenance and modernization. Instructions give you
guidelines for preparing papers for conferences or journals.
After 1989, the welding needs of the potentials beneficiaries
(Romanian Railways, Urban Transportation Companies) keep raise
because of the railways maintenance and modernization necessity.
The main materials that determine the Thermit (T) composition
result from manufacturing scraps all over the country. This can help
the environment by consuming these scraps.
The Romanian need for alumino-thermic welding is now by 11300
per year, and in a favourable economical environment, this amount
can reach 30000 units.
This paper tries to show the effect of two types of modifiers
introduced in the T composition on the structure and properties of an
alumino-thermic welding.
Abstract: Modern times call organizations to have an active role
in the social arena, through Corporate Social Responsibility (CSR).
The objective of this research was to test the hypothesis that there is a
positive relation between social performance and economic
performance, and if there is a positive correlation between social
performance and financial-economic performance. To test these
theories a measure of social performance, based on the Green Book
of Commission of the European Community, was used in a group of
nineteen Portuguese top companies, listed on the PSI 20 index,
through a period of five years, since 2005 to 2009. A clusters
analysis was applied to group companies by their social performance
and to compare and correlate their economic performance. Results
indicate that companies that had a better social performance are not
the ones who had a better economic performance, and suggest that
the middle path might provide a good relation CSR-Economic
performance, as a basis to a sustainable development.
Abstract: Service quality has become a centerpiece for airline companies in vying with one another and keeps their image in the minds of passengers. Many airlines have pushed service quality through service personalization which includes both ground and on board especially from the viewpoint of retaining satisfied passengers and attracting new ones. Besides those, in-flight meals/food service is another important aspect of the airline operation. The in flight meals/food services now are seen as part of marketing strategies in attracting business or leisure travelers. This study reports the outcomes of the investigation on in-flight meals/food attributes toward passengers- level of satisfaction and re-flying intention. Taste, freshness, appearance of in-flight meals/food served and menu choices are important to the airlines passengers especially for the long haul flight. Food not only contributes to the prediction of the airline passengers- levels of satisfaction but besides other factors slightly influence passengers- re- flying intention. Airline companies therefore should not ignore this element but take the opportunity to create more attractive and acceptable in-flight meals/food along with other matter as marketing tools in attracting passengers to re-flying with them.
Abstract: Cooperative organizations in Malaysia are going
through a phase of rapid growth. They are seen by the government as
another crucial vehicle to drive and boost up the country-s
economical development and growth. Hence, the issue of cooperative
governance is of great importance. Unlike literatures on corporate
governance for public listed companies-, literatures on governance
for social enterprises, in particular the cooperative organizations are
still at the early stage in Malaysia and very scant in number. This
paper will look into current practices as well as issues and challenges
related to cooperative governance. The need for a better solution
towards forming best practices of cooperative governance framework
appears imperative in deterring cases of mismanagement and fraud.
Abstract: The main aim of this paper is to develop and calibrate
an econometric model for modeling prices of long term electricity
futures contracts. The calibration of our model is performed on data
from EEX AG allowing us to capture the specific features of German
electricity market. The data sample contains several structural breaks
which have to be taken into account for modeling. We model the data
with an ARIMAX model which reveals high correlation between the
price of electricity futures contracts and prices of LT futures
contracts of fuels (namely coal, natural gas and crude oil). Besides
this, also a share price index of representative electricity companies
traded on Xetra, spread between 10Y and 1Y German bonds and
exchange rate between EUR and USD appeared to have significant
explanatory power over these futures contracts on EEX.
Abstract: The changing economic climate has made global
manufacturing a growing reality over the last decade, forcing
companies from east and west and all over the world to
collaborate beyond geographic boundaries in the design,
manufacture and assemble of products. The ISO10303 and
ISO14649 Standards (STEP and STEP-NC) have been
developed to introduce interoperability into manufacturing
enterprises so as to meet the challenge of responding to
production on demand. This paper describes and illustrates a
STEP compliant CAD/CAPP/CAM System for the manufacture
of rotational parts on CNC turning centers. The information
models to support the proposed system together with the data
models defined in the ISO14649 standard used to create the NC
programs are also described. A structured view of a STEP
compliant CAD/CAPP/CAM system framework supporting the
next generation of intelligent CNC controllers for turn/mill
component manufacture is provided. Finally a proposed
computational environment for a STEP-NC compliant system
for turning operations (SCSTO) is described. SCSTO is the
experimental part of the research supported by the specification
of information models and constructed using a structured
methodology and object-oriented methods. SCSTO was
developed to generate a Part 21 file based on machining
features to support the interactive generation of process plans
utilizing feature extraction. A case study component has been
developed to prove the concept for using the milling and turning
parts of ISO14649 to provide a turn-mill CAD/CAPP/CAM
environment.
Abstract: Due to the fact that in the new century customers tend
to express globally increasing demands, networks of interconnected
businesses have been established in societies and the management of
such networks seems to be a major key through gaining competitive
advantages. Supply chain management encompasses such managerial
activities. Within a supply chain, a critical role is played by quality.
QFD is a widely-utilized tool which serves the purpose of not only
bringing quality to the ultimate provision of products or service
packages required by the end customer or the retailer, but it can also
initiate us into a satisfactory relationship with our initial customer;
that is the wholesaler. However, the wholesalers- cooperation is
considerably based on the capabilities that are heavily dependent on
their locations and existing circumstances. Therefore, it is undeniable
that for all companies each wholesaler possesses a specific
importance ratio which can heavily influence the figures calculated in
the House of Quality in QFD. Moreover, due to the competitiveness
of the marketplace today, it-s been widely recognized that
consumers- expression of demands has been highly volatile in
periods of production. Apparently, such instability and proneness to
change has been very tangibly noticed and taking it into account
during the analysis of HOQ is widely influential and doubtlessly
required. For a more reliable outcome in such matters, this article
demonstrates the application viability of Analytic Network Process
for considering the wholesalers- reputation and simultaneously
introduces a mortality coefficient for the reliability and stability of
the consumers- expressed demands in course of time. Following to
this, the paper provides further elaboration on the relevant
contributory factors and approaches through the calculation of such
coefficients. In the end, the article concludes that an empirical
application is needed to achieve broader validity.
Abstract: Capital structure is one of the most important financial
decisions in corporate financing strategy. It involves the choice of
debt and equity level in financing a company-s operations. This study
aims to investigate whether the capital structure choice of Malaysian
electrical and electronic manufacturing companies that are listed in
the Bursa Malaysia can be explained by factors that have been found
by most studies as dominant determinants of capital structure
(company size, profitability, asset tangibility, liquidity and growth).
Using debt ratio as the proxy for capital structure and applying
pooled ordinary least square multiple regression estimation, the
results showed that on average, Malaysian electrical and electronic
manufacturing companies used less debt in funding their business
operations. The findings also showed that size and asset tangibility
has a significant positive relationship with debt level, while liquidity
has a negative significant relationship with leverage.