Abstract: Corporate Social Responsibility (CSR) has become a
new trend of business governance. Few research studies on CSR
published in Taiwanese academia, especially for medical settings, we
were interested in probing the relationship of CSR and financial
performance in medical settings in Taiwan. The results illustrate that:
(1) a time delay effect exists with a lag between CSR effort and its
performance in the hospital foundation, (2) input into the internal
domains of CSR will be helpful to improve employee productivity in
the hospital foundation, and (3) input into the external domains of CSR
will be helpful in improving financial performance in the hospital
foundation. This study overviews CSR in the medical industry in
Taiwan and the relationship of CSR and financial performance.
Discussions of possible implications from the study results are applied
to consult the CSR concept that will be transferred into a business
strategy for the organization manager.
Abstract: Artificial Intelligence (AI) methods are increasingly being used for problem solving. This paper concerns using AI-type learning machines for power quality problem, which is a problem of general interest to power system to provide quality power to all appliances. Electrical power of good quality is essential for proper operation of electronic equipments such as computers and PLCs. Malfunction of such equipment may lead to loss of production or disruption of critical services resulting in huge financial and other losses. It is therefore necessary that critical loads be supplied with electricity of acceptable quality. Recognition of the presence of any disturbance and classifying any existing disturbance into a particular type is the first step in combating the problem. In this work two classes of AI methods for Power quality data mining are studied: Artificial Neural Networks (ANNs) and Support Vector Machines (SVMs). We show that SVMs are superior to ANNs in two critical respects: SVMs train and run an order of magnitude faster; and SVMs give higher classification accuracy.
Abstract: Green incentives are included in the “American
Recovery and Reinvestment Act of 2009" (ARRA). It is, however,
unclear how these government incentives can be carried out most
effectively according to market-based principles and if they can serve
as a catalyst for an accelerated green transformation and an ultimate
solution to the current U.S. and global economic and financial crisis.
The article will compare the existing U.S. green economic policies
with those in Germany, identify problems, and suggest improvements
to allow the green stimulus incentives to achieve the best results in
the process of an accelerated green transformation. The author argues
that the current U.S. green stimulus incentives can only be most
successful if they are carried out as part of a visionary,
comprehensive, long-term, and consistent strategy of the green
economic transformation.
Abstract: 20 years of dentistry was a period of transition from
communist to market economy but Romanian doctors have
insufficient management knowledge. Recently, the need for modern
management has increased due to technologies and superior materials
appearance, as patient-s demands.
Research goal is to increase efficiency by evaluating dental
medical office cost categories in real pricing procedures.
Empirical research is based on guided study that includes
information about the association between categories of cost
perception and therapeutic procedures commonly used in dental
offices.
Due to the obtained results to identify all the labours that make up
a settled procedure costs were determined for each procedure.
Financial evaluation software was created with the main functions:
introducing and maintaining patient records, treatment and
appointments made, procedures cost and monitoring office
productivity.
We believe that the study results can significantly improve the
financial management of dental offices, increasing the effectiveness
and quality of services.
Abstract: Because of its global reach, reduction of time
restraints, and ability to reduce costs and increase sales, use of the
Internet, the World Wide Web (WWW), and related technologies
can be a competitive tool in the arsenal of small and medium-sized
enterprises (SMEs). Countries the world over are interested in the
successful adoption of the Internet by SMEs. Because a vast
majority of jobs come from that sector, greater financial success of
SMEs translates into greater job growth and, subsequently, higher
tax revenue to the government. This research investigated the level
of Internet usage for business solutions by small and medium
enterprises in Jordan. Through the survey of a random sample of
100 firms with less than 500 employees and from data obtained
from this survey that formed the basis for our study, we found that
a majority of respondents use the Internet in business activities ,
the adoption of the Internet as a business tool is limited to a
brochure where Web site which primarily provides one way. As
such, there wasn't interactive information about the company and
its products and services.
Abstract: Cost contribution arrangements (CCAs) and Cost
sharing agreements (CCAs) belong to the tools of modern finance
management. Costs spend by associated enterprises on developing
producing or obtaining assets, services or rights (in general -
benefits) are used for tax optimizing too. The main purpose of joint
research and development, producing or obtaining benefits is to
lower these costs as much as possible or to maximize the benefits. In
this article is mentioned the problematic of transfer pricing and arm's
length principle with connection of CCAs, CSAs. Next, there is
mentioned how to settle participation shares of the total cost and
benefits contributions with respect to the OECD Transfer pricing for
MNEs Guidelines and with respect to other significant regulations.
Abstract: The interdependences among stock market indices
were studied for a long while by academics in the entire world. The
current financial crisis opened the door to a wide range of opinions
concerning the understanding and measurement of the connections
considered to provide the controversial phenomenon of market
integration. Using data on the log-returns of 17 stock market indices
that include most of the CEE markets, from 2005 until 2009, our
paper studies the problem of these dependences using a new
methodological tool that takes into account both the volatility
clustering effect and the stochastic properties of these linkages
through a Dynamic Conditional System of Simultaneous Equations.
We find that the crisis is well captured by our model as it provides
evidence for the high volatility – high dependence effect.
Abstract: The current situation in the eurozone raises a number of topics for discussion and to help in finding an answer to the question of whether a common currency is a more suitable means of coping with the impact of the financial crisis or whether national currencies are better suited to this. The economic situation in the EU is now considerably volatile and, due to problems with the fulfilment of the Maastricht convergence criteria, it is now being considered whether, in their further development, new member states will decide to distance themselves from the euro or will, in an attempt to overcome the crisis, speed up the adoption of the euro. The Czech Republic is one country with little interest in adopting the euro, justified by the fact that a better alternative to dealing with this crisis is an independent monetary policy and its ability to respond flexibly to the economic situation not only in Europe, but around the world. One attribute of the crisis in the Czech Republic and its mitigation is the freely floating exchange rate of the national currency. It is not only the Czech Republic that is attempting to alleviate the impact of the crisis, but also new EU member countries facing fresh questions to which theory have yet to provide wholly satisfactory answers. These questions undoubtedly include the problem of inflation targeting and the choice of appropriate instruments for achieving financial stability. The difficulty lies in the fact that these objectives may be contradictory and may require more than one means of achieving them. In this respect we may assume that membership of the euro zone might not in itself mitigate the development of the recession or protect the nation from future crises. We are of the opinion that the decisive factor in the development of any economy will continue to be the domestic economic policy and the operability of market economic mechanisms. We attempt to document this fact using selected countries as examples, these being the Czech Republic, Poland, Hungary, and Slovakia.
Abstract: In this research, effort was made to identify and
evaluate barriers to the development of entrepreneurship among
Iranian entrepreneur women who were graduated from universities.
In this study, perspectives of thirty-seven available entrepreneur
women were examined. In order to prepare questionnaires and
receive knowledge about barriers among these women, seven cases of
entrepreneur women took part in in-depth interviews. Then, to
evaluate the importance of barriers, the researchers made a
questionnaire with closed questions in which the barriers were
classified into the following categories: personal-familial barriers;
socio-cultural barriers; economic-financial-commercial barriers; and
structural barriers. Entrepreneur women were requested to rate the
importance of each item. The results indicated that there were
different obstacles among entrepreneur women. The order of the
important barriers was as fallow: economic-financial-commercial,
structural, socio-cultural, and personal-familial.
Abstract: The purpose of this paper is to consider the
introduction of online courses to replace the current classroom-based
staff training. The current training is practical, and must be
completed before access to the financial computer system is
authorized. The long term objective is to measure the efficacy,
effectiveness and efficiency of the training, and to establish whether
a transfer of knowledge back to the workplace has occurred. This
paper begins with an overview explaining the importance of staff
training in an evolving, competitive business environment and
defines the problem facing this particular organization. A summary
of the literature review is followed by a brief discussion of the
research methodology and objective. The implementation of the
alpha version of the online course is then described. This paper may
be of interest to those seeking insights into, or new theory regarding,
practical interventions of online learning in the real world.
Abstract: The past decade has witnessed a good opportunities
for city development schemes in UK. The government encouraged
restoration of city centers to comprise mixed use developments with
high density residential apartments. Investments in regeneration areas
were doing well according to the analyses of Property Databank
(IPD). However, more recent analysis by IPD has shown that since
2007, property in regeneration areas has been more vulnerable to the
market downturn than other types of investment property. The early
stages of a property market downturn may be felt most in
regeneration where funding, investor confidence and occupier
demand would dissipate because the sector was considered more
marginal or risky when development costs rise. Moreover, the Bank
of England survey shows that lenders have sequentially tightened the
availability of credit for commercial real estate since mid-2007. A
sharp reduction in the willingness of banks to lend on commercial
property was recorded. The credit crunch has already affected
commercial property but its impact has been particularly severe in
certain kinds of properties where residential developments are
extremely difficult, in particular city centre apartments and buy-to-let
markets. Commercial property – retail, industrial leisure and mixed
use were also pressed, in Birmingham; tens of mixed use plots were
built to replace old factories in the heart of the city. The purpose of
these developments was to enable young professionals to work and
live in same place. Thousands of people lost their jobs during the
recession, moreover lending was more difficult and the future of
many developments is unknown. The recession casts its shadow upon
the society due to cuts in public spending by government, Inflation,
rising tuition fees and high rise in unemployment generated anger and
hatred was spreading among youth causing vandalism and riots in
many cities. Recent riots targeted many mixed used development in
the UK where banks, shops, restaurants and big stores were robbed
and set into fire leaving residents with horror and shock. This paper
examines the impact of the recession and riots on mixed use
development in UK.
Abstract: This paper is motivated by the aspect of uncertainty in
financial decision making, and how artificial intelligence and soft
computing, with its uncertainty reducing aspects can be used for
algorithmic trading applications that trade in high frequency.
This paper presents an optimized high frequency trading system that
has been combined with various moving averages to produce a hybrid
system that outperforms trading systems that rely solely on moving
averages. The paper optimizes an adaptive neuro-fuzzy inference
system that takes both the price and its moving average as input,
learns to predict price movements from training data consisting of
intraday data, dynamically switches between the best performing
moving averages, and performs decision making of when to buy or
sell a certain currency in high frequency.
Abstract: Not only is municipal pattern the institution basement of urban management, but it also determines the forms of the management results. There-s a considerable possibility of bankruptcy for China-s current municipal pattern as it-s an overdraft of land deal in fact. Based on the analysis of China-s current municipal pattern, the passage proposed an assumption of a new pattern verified legitimacy by conceptual as well as econometric models. Conclusion is: the added supernumerary value of investment in public goods was not included in China-s current municipal pattern, but hidden in the rising housing prices; we should set housing tax or municipal tax to optimize the municipal pattern, to correct the behavior of local governments and to ensure the regular development of China-s urbanization.
Abstract: Using mobile Internet access technologies and eservices,
various economic agents can efficiently offer their products
or services to a large number of clients. With the support of mobile
communications networks, the clients can have access to e-services,
anywhere and anytime. This is a base to establish a convergence of
technological and financial interests of mobile operators, software
developers, mobile terminals producers and e-content providers. In
this paper, a client server system is presented, using 3G, EDGE,
mobile terminals, for Stock Exchange e-services access.
Abstract: We present a new intuitionistic fuzzy aggregation
operator called the intuitionistic fuzzy ordered weighted
averaging-weighted average (IFOWAWA) operator. The main
advantage of the IFOWAWA operator is that it unifies the OWA
operator with the WA in the same formulation considering the degree
of importance that each concept has in the aggregation. Moreover, it is
able to deal with an uncertain environment that can be assessed with
intuitionistic fuzzy numbers. We study some of its main properties and
we see that it has a lot of particular cases such as the intuitionistic
fuzzy weighted average (IFWA) and the intuitionistic fuzzy OWA
(IFOWA) operator. Finally, we study the applicability of the new
approach on a financial decision making problem concerning the
selection of financial strategies.
Abstract: This paper examines the effect of corporate diversification on the profitability of the Financial services sector in Nigeria. The study relied on historic accounting data generated from financial (annual) reports and accounts of sampled banks between the period 1998 and 2007 (a ten-year period). A regression equation was formulated, in line with previous studies to shed light on the effect of corporate diversification on the profitability of the Financial services sector in Nigeria. The results of the regression analysis revealed that diversification impacts strongly on banks profitability. Conclusively the paper produces strong evidence to assert that diversification impacts positively and significantly on banks profitability because among other things such diversified banks can pool their internally generated funds and allocate them properly.
Abstract: Using a scoring system, this paper provides a
comparative assessment of the quality of data between XBRL
formatted financial reports and non-XBRL financial reports. It shows a
major improvement in the quality of data of XBRL formatted financial
reports. Although XBRL formatted financial reports do not show
much advantage in the quality at the beginning, XBRL financial
reports lately display a large improvement in the quality of data in
almost all aspects. With the improved XBRL web data managing,
presentation and analysis applications, XBRL formatted financial
reports have a much better accessibility, are more accurate and better
in timeliness.
Abstract: One of the most important aspects expected from ERP systems is to integrate various operations existing in administrative, financial, commercial, human resources, and production departments of the consumer organization. Also, it is often needed to integrate the new ERP system with the organization legacy systems when implementing the ERP package in the organization. Without relying on an appropriate software architecture to realize the required integration, ERP implementation processes become error prone and time consuming; in some cases, the ERP implementation may even encounters serious risks. In this paper, we propose a new architecture that is based on the agent oriented vision and supplies the integration expected from ERP systems using several independent but cooperator agents. Besides integration which is the main issue of this paper, the presented architecture will address some aspects of intelligence and learning capabilities existing in ERP systems
Abstract: Financial literacy is one of the key factors needed in making informed financial decisions. As businesses continue to be more profit driven, more financial and economic intrigues arise that continue to put individuals at the risk of spending more and more without considering the short term and long term effects. We conducted a study to assess financial literacy and financial decision making among Emiratis. Our results show that financial literacy is lacking among Emiratis. Also, almost half of respondents owe loans to other peoples and 1/5 of them have bank loans. We expect that the outcome of this research will be useful for designing educational programs and policies to promote financial planning and security among Emiratis. We also posit that deeper and more informed understanding of this problem is a precursor for developing effective financial education programs with the aim of improving financial decision- making among Emiratis.
Abstract: The liberalization and privatization processes have
forced public utility companies to face new competitive challenges,
implementing strategies to gain market share and, at the same time,
keep the old customers. To this end, many companies have carried
out mergers, acquisitions and conglomerations in order to diversify
their business. This paper focuses on companies operating in the free
energy market in Italy. In the last decade, this sector has undergone
profound changes that have radically changed the competitive
scenario and have led companies to implement diversification
strategies of the business. Our work aims to evaluate the economic
and financial performances obtained by energy companies, following
the beginning of the liberalization process, verifying the possible
relationship with the implemented diversification strategies.