Abstract: This paper examines the relationship between financial
risks and profitability of the conventional and Islamic banks in
Malaysia for the period between 1996 and 2005. The measures of
profitability that have been used in the study are the return on equity
(ROE) and return on assets (ROA) while the financial risks are credit
risk, interest rate risk and liquidity risks. This study employs panel
data regression analysis of Generalised Least Squares of fixed effects
and random effects models. It was found that credit risk has a
significant impact on ROA and ROE for the conventional as well as
the Islamic banks. The relationship between interest rate risk and ROE
were found to be weakly significant for the conventional banks and
insignificant for the Islamic banks. The effect of interest rate risk on
ROA is significant for the conventional banks. Liquidity risk was
found to have an insignificant impact on both profitability measures.
Abstract: Digital broadcasting has been an area of active
research, development, innovation and business models development
in recent years. This paper presents a survey on the characteristics of
the digital terrestrial television broadcasting (DTTB) standards, and
implementation status of DTTB worldwide showing the standards
adopted. It is clear that only the developed countries and some in the
developing ones shall be able to beat the ITU set analogue to digital
broadcasting migration deadline because of the challenges that these
countries faces in digitizing their terrestrial broadcasting. The
challenges to keep on track the DTTB migration plan are also
discussed in this paper. They include financial, technology gap,
policies alignment with DTTB technology, etc. The reported
performance comparisons for the different standards are also
presented. The interesting part is that the results for many
comparative studies depends to a large extent on the objective behind
such studies, hence counter claims are common.
Abstract: With the development of technology, the growing
trend of fast and safe passenger transport, air pollution, traffic
congestion, increase in problems such as the increasing population
and the high cost of private vehicle usage made many cities around
the world with a population of more or less, start to build rail systems
as a means of urban transport in order to ensure the economic and
environmental sustainability and more efficient use of land in the
city. The implementation phase of rail systems costs much more than
other public transport systems. However, social and economic returns
in the long term made these systems the most popular investment tool
for planned and developing cities.
In our country, the purpose, goals and policies of transportation
plans are away from integrity, and the problems are not clearly
detected. Also, not defined and incomplete assessment of
transportation systems and insufficient financial analysis are the most
important cause of failure. Rail systems and other transportation
systems to be addressed as a whole is seen as the main factor in
increasing efficiency in applications that are not integrated yet in our
country to come to this point has led to the problem.
Abstract: Road rage is an increasingly prevalent expression of
aggression in our society. Its dangers are apparent and understanding
its causes may shed light on preventative measures. This study
involved a fifteen-minute survey administered to 147 undergraduate
students at a North Eastern suburban university. The survey
consisted of a demographics section, questions regarding financial
investment in respondents- vehicles, experience driving, habits of
driving, experiences witnessing role models driving, and an
evaluation of road rage behavior using the Driving Vengeance
Questionnaire. The study found no significant differences in driving
aggression between respondents who were financially invested in
their vehicle compared to those who were not, or between
respondents who drove in heavy traffic hours compared to those who
did not, suggesting internal factors correlate with aggressive driving
habits. The study also found significant differences in driving
aggression between males versus females, those with more points on
their license versus fewer points, and those who witnessed parents
driving aggressively very often versus rarely or never. Additional
studies can investigate how witnessing parents driving aggressively
is related to future driving behaviors.
Abstract: This paper presents preliminary results of a
technology assessment analysis for the use of high pressure treatment
(HPT) on Halloumi cheese. In particular, it presents the importance
of this traditional Cyprus cheese to the island-s economy, explains its
production process, and gives a brief introduction to HPT and its
application on cheese. More importantly, it offers preliminary results
of HPT of Halloumi samples and a preliminary economic feasibility
study on the financial implications of the introduction of such
technology.
Abstract: Plastic waste is a big issue in Thailand, but the amount of recycled plastic in Thailand is still low due to the high investment and operating cost. Hence, the rest of plastic waste are burnt to destroy or sent to the landfills. In order to be financial viable, an effective reverse logistics infrastructure is required to support the product recovery activities. However, there is a conflict between reducing the cost and raising environmental protection level. The purpose of this study is to build a goal programming (GP) so that it can be used to help analyze the proper planning of the Thailand-s plastic recycling system that involves multiple objectives. This study considers three objectives; reducing total cost, increasing the amount of plastic recovery, and raising the desired plastic materials in recycling process. The results from two priority structures show that it is necessary to raise the total cost budget in order to achieve targets on amount of recycled plastic and desired plastic materials.
Abstract: The speech signal conveys information about the
identity of the speaker. The area of speaker identification is
concerned with extracting the identity of the person speaking the
utterance. As speech interaction with computers becomes more
pervasive in activities such as the telephone, financial transactions
and information retrieval from speech databases, the utility of
automatically identifying a speaker is based solely on vocal
characteristic. This paper emphasizes on text dependent speaker
identification, which deals with detecting a particular speaker from a
known population. The system prompts the user to provide speech
utterance. System identifies the user by comparing the codebook of
speech utterance with those of the stored in the database and lists,
which contain the most likely speakers, could have given that speech
utterance. The speech signal is recorded for N speakers further the
features are extracted. Feature extraction is done by means of LPC
coefficients, calculating AMDF, and DFT. The neural network is
trained by applying these features as input parameters. The features
are stored in templates for further comparison. The features for the
speaker who has to be identified are extracted and compared with the
stored templates using Back Propogation Algorithm. Here, the
trained network corresponds to the output; the input is the extracted
features of the speaker to be identified. The network does the weight
adjustment and the best match is found to identify the speaker. The
number of epochs required to get the target decides the network
performance.
Abstract: The necessity of updating the numerical models inputs, because of geometrical and resistive variations in rivers subject to solid transport phenomena, requires detailed control and monitoring activities. The human employment and financial resources of these activities moves the research towards the development of expeditive methodologies, able to evaluate the outflows through the measurement of more easily acquirable sizes. Recent studies highlighted the dependence of the entropic parameter on the kinematical and geometrical flow conditions. They showed a meaningful variability according to the section shape, dimension and slope. Such dependences, even if not yet well defined, could reduce the difficulties during the field activities, and also the data elaboration time. On the basis of such evidences, the relationships between the entropic parameter and the geometrical and resistive sizes, obtained through a large and detailed laboratory experience on steady free surface flows in conditions of macro and intermediate homogeneous roughness, are analyzed and discussed.
Abstract: Weather disaster events were frequent and caused loss
of lives and property in Taiwan recently. Excessive concentration of
population and lacking of integrated planning led to Taiwanese coastal
zone face the impacts of climate change directly. Comparing to many
countries which have already set up legislation, competent authorities
and national adaptation strategies, the ability of coastal management
adapting to climate change is still insufficient in Taiwan. Therefore, it
is necessary to establish a complete institutional arrangement for
coastal management due to climate change in order to protect
environment and sustain socio-economic development. This paper
firstly reviews the impact of climate change on Taiwanese coastal
zone. Secondly, development of Taiwanese institutional arrangement
of coastal management is introduced. Followed is the analysis of four
dimensions of legal basis, competent authority, scientific and financial
support and international cooperations of institutional arrangement.
The results show that Taiwanese government shall: 1) integrate climate
change issue into Coastal Act, Wetland Act and territorial planning
Act and pass them; 2) establish the high level competent authority for
coastal management; 3) set up the climate change disaster coordinate
platform; 4) link scientific information and decision markers; 5)
establish the climate change adjustment fund; 6) participate in
international climate change organizations and meetings actively; 7)
cooperate with near countries to exchange experiences.
Abstract: Supply chain networks are frequently hit by
unplanned events which lead to disruptions and cause operational and
financial consequences. It is neither possible to avoid disruption risk
entirely, nor are network members able to prepare for every possible
disruptive event. Therefore a continuity planning should be set up
which supports effective operational responses in supply chain
networks in times of emergencies. In this research network related
degrees of freedom which determine the options for responsive
actions are derived from interview data. The findings are further
embedded into a common risk management process. The paper
provides support for researchers and practitioners to identify the
network related options for responsive actions and to determine the
need for improving the reaction capabilities.
Abstract: If price and quantity are the fundamental building
blocks of any theory of market interactions, the importance of trading
volume in understanding the behavior of financial markets is clear.
However, while many economic models of financial markets have
been developed to explain the behavior of prices -predictability,
variability, and information content- far less attention has been
devoted to explaining the behavior of trading volume. In this article,
we hope to expand our understanding of trading volume by
developing a new measure of herding behavior based on a cross
sectional dispersion of volumes betas. We apply our measure to the
Toronto stock exchange using monthly data from January 2000 to
December 2002. Our findings show that the herd phenomenon
consists of three essential components: stationary herding, intentional
herding and the feedback herding.
Abstract: The article describes a case study on one of Czech
Republic-s manufacturing middle size enterprises (ME), where due to
the European financial crisis, production lines had to be redesigned
and optimized in order to minimize the total costs of the production
of goods. It is considered an optimization problem of minimizing the
total cost of the work load, according to the costs of the possible
locations of the workplaces, with an application of the Greedy
algorithm and a partial analogy to a Set Packing Problem. The
displacement of working tables in a company should be as a one-toone
monotone increasing function in order for the total costs of
production of the goods to be at minimum. We use a heuristic
approach with greedy algorithm for solving this linear optimization
problem, regardless the possible greediness which may appear and
we apply it in a Czech ME.
Abstract: Soil stabilization has been widely used to improve
soil strength and durability or to prevent erosion and dust generation.
Generally to reduce problems of clayey soils in engineering work and
to stabilize these soils additional materials are used. The most
common materials are lime, fly ash and cement. Using this materials,
although improve soil property , but in some cases due to financial
problems and the need to use special equipment are limited .One of
the best methods for stabilization clayey soils is neutralization the
clay particles. For this purpose we can use ion exchange materials.
Ion exchange solution like CBR plus can be used for soil
stabilization. One of the most important things in using CBR plus is
determination the amount of this solution for various soils with
different properties. In this study a laboratory experiment is conduct
to evaluate the ion exchange capacity of three soils with various
plasticity index (PI) to determine amount or required CBR plus
solution for soil stabilization.
Abstract: The neural network's performance can be measured by efficiency and accuracy. The major disadvantages of neural network approach are that the generalization capability of neural networks is often significantly low, and it may take a very long time to tune the weights in the net to generate an accurate model for a highly complex and nonlinear systems. This paper presents a novel Neuro-fuzzy architecture based on Extended Kalman filter. To test the performance and applicability of the proposed neuro-fuzzy model, simulation study of nonlinear complex dynamic system is carried out. The proposed method can be applied to an on-line incremental adaptive learning for the prediction of financial time series. A benchmark case studie is used to demonstrate that the proposed model is a superior neuro-fuzzy modeling technique.
Abstract: This paper is to explore the relationship and the level
of stock market integration of the Asian countries, primarily
concentrating on Malaysia, Thailand, Indonesia, and South Korea,
with the world from January 1997 to December 2009. The degree of
short-run and long-run stock market integration of those Asian
countries are analyzed in order to determine the significance of series
of regional and world financial crises, liberalization policies and
other financial reforms in influencing the level of stock market
integration. To test for cointegration, this paper applies coefficient
correlation, univariate regression analyses, cointegration tests, and
vector autoregressive models (VAR) by using the four Asian stock
markets main indices and the MSCI World index. The empirical
findings from this work reveal that there is no long-run stock market
integration for the four countries and the world market. However,
there is short run integration.
Abstract: Majority of Business Software Systems (BSS)
Development and Enhancement Projects (D&EP) fail to meet criteria
of their effectiveness, what leads to the considerable financial losses.
One of the fundamental reasons for such projects- exceptionally low
success rate are improperly derived estimates for their costs and time.
In the case of BSS D&EP these attributes are determined by the work
effort, meanwhile reliable and objective effort estimation still appears
to be a great challenge to the software engineering. Thus this paper is
aimed at presenting the most important synthetic conclusions coming
from the author-s own studies concerning the main factors of
effective BSS D&EP work effort estimation. Thanks to the rational
investment decisions made on the basis of reliable and objective
criteria it is possible to reduce losses caused not only by abandoned
projects but also by large scale of overrunning the time and costs of
BSS D&EP execution.
Abstract: Company strategy expresses a basic idea of how to reach company objectives. A whole range of models of strategic management are used in practice. The concept of strategic management should fulfill some basic requirements to make it applicable for both the typical, but also more specific company environment. The financial strategy plays an important role in corporate strategy. The paper develops a methodology of strategic model implementing into the category of micro, small and medium-sized enterprises (SMEs). Furthermore, the methodology recommends procedures while solving an up-to-date worldwide task of the definition of the company strategy and its financial strategy.
Abstract: The study examines the determinants of corporate cash holding of non-financial quoted firms in Nigeria using a sample of fifty four non-financial quoted firms listed on the Nigeria Stock Exchange for the period 1995-2009. Data were sourced from the Annual reports of the sampled firms and analyzed using Generalized Method of Moments(GMM). The study finds evidence supportive of a target adjustment model and that firms can not instantaneously adjust towards the target cash level owing to the fact that adjustment cost being costly,. Also, the result shows significant negative relationship between cash holdings and firm size, net working capital, return on asset and bank relationship and positive relationship with growth opportunities, leverage, inventories, account receivables and financial distress. Furthermore, there is no significant relationship between cash holdings and cash flow. In Nigerian setting, most of the variables that are relevant for explaining cash holdings in the Developed countries are found by this study to be relevant also in Nigeria.
Abstract: This paper describes the challenges on the requirements engineering for developing an enterprise applications in higher
education environment. The development activities include software implementation, maintenance, and enhancement and support for online
transaction processing and overnight batch processing.
Generally, an enterprise application for higher education environment
may include Student Information System (SIS), HR/Payroll system,
Financial Systems etc. By the way, there are so many challenges in
requirement engineering phases in order to provide two distinctive
services that are production processing support and systems
development.
Abstract: The article examines an opportunity of corruption
restriction exercised by international business community in Russia.
Integration of Russian economy into the international business does
not reduce corruption inside the country. Foreign actors investing in
Russia under the condition of obtaining their required rates of returns
will be reluctant to harm their investments by involving into anticorruption
activities. Furthermore, many Russian firms- competitive
advantage could be directly related to their corruption connections. In
this case, foreign investments would only accentuate corrupt
companies- success by supporting them financially