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: Accounts of language acquisition differ significantly in their treatment of the role of prediction in language learning. In particular, nativist accounts posit that probabilistic learning about words and word sequences has little to do with how children come to use language. The accuracy of this claim was examined by testing whether distributional probabilities and frequency contributed to how well 3-4 year olds repeat simple word chunks. Corresponding chunks were the same length, expressed similar content, and were all grammatically acceptable, yet the results of the study showed marked differences in performance when overall distributional frequency varied. It was found that a distributional model of language predicted the empirical findings better than a number of other models, replicating earlier findings and showing that children attend to distributional probabilities in an adult corpus. This suggested that language is more prediction-and-error based, rather than on abstract rules which nativist camps suggest.
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
Abstract: The objective of this study is to investigate fire
behaviors, experimentally and numerically, in a scaled version of an
underground station. The effect of ventilation velocity on the fire is
examined. Fire experiments are simulated by burning 10 ml
isopropyl alcohol fuel in a fire pool with dimensions 5cm x 10cm x 4
mm at the center of 1/100 scaled underground station model. A
commercial CFD program FLUENT was used in numerical
simulations. For air flow simulations, k-ω SST turbulence model and
for combustion simulation, non-premixed combustion model are
used. This study showed that, the ventilation velocity is increased
from 1 m/s to 3 m/s the maximum temperature in the station is found
to be less for ventilation velocity of 1 m/s. The reason for these
experimental result lies on the relative dominance of oxygen supply
effect on cooling effect. Without piston effect, maximum temperature
occurs above the fuel pool. However, when the ventilation velocity
increased the flame was tilted in the direction of ventilation and the
location of maximum temperature moves along the flow direction.
The velocities measured experimentally in the station at different
locations are well matched by the CFD simulation results. The
prediction of general flow pattern is satisfactory with the smoke
visualization tests. The backlayering in velocity is well predicted by
CFD simulation. However, all over the station, the CFD simulations
predicted higher temperatures compared to experimental
measurements.
Abstract: Geometry optimizations of metal complexes of Salen(bis(Salicylidene)1,2-ethylenediamine) were carried out at HF and DFT methods employing Lanl2DZ basis set. In this work structural, energies, bond lengths and other physical properties between Mn2+,Cu2+ and Ni2+ ions coordinated by salen–type ligands are examined. All calculations were performed using Gaussian 98W program series. To investigate local aromaticities, NICS were calculated at all centers of rings. The higher the band gap indicating a higher global aromaticity. The possible binding energies have been evaluated. We have evaluated Frequencies and Zero-point energy with freq calculation. The NICS(Nucleous Independent Chemical Shift) Results show Ni(II) complexes are antiaromatic and aromaticites of Mn(II) complexes are larger than Cu(II) complexes. The energy Results show Cu(II) complexes are stability than Mn(II) and Ni(II) complexes.
Abstract: In the present Jordan hotels scenario, service quality is
a vital competitive policy to keep customer support and build great
base. Hotels are trying to win customer loyalty by providing enhanced
quality services. This paper attempts to examine the impact of tourism
service quality dimension in the Jordanian five star hotels. A total of
322 surveys were administrated to tourists who were staying at three
branches Marriott hotel in Jordan. The results show that dimensions of
service quality such as empathy, reliability, responsiveness and
tangibility significantly predict customer loyalty. Specifically, among
the dimension of tourism service quality, the most significant predictor
of customer loyalty is tangibility. This paper implies that five star
hotels in Jordan should also come forward and try their best to present
better tourism service quality to win back their customers- loyalty.
Abstract: Recent quasi-experimental evaluation of the Canadian Active Labour Market Policies (ALMP) by Human Resources and Skills Development Canada (HRSDC) has provided an opportunity to examine alternative methods to estimating the incremental effects of Employment Benefits and Support Measures (EBSMs) on program participants. The focus of this paper is to assess the efficiency and robustness of inverse probability weighting (IPW) relative to kernel matching (KM) in the estimation of program effects. To accomplish this objective, the authors compare pairs of 1,080 estimates, along with their associated standard errors, to assess which type of estimate is generally more efficient and robust. In the interest of practicality, the authorsalso document the computationaltime it took to produce the IPW and KM estimates, respectively.
Abstract: Very few studies have examined performance
implications of strategic alliance announcements in the information
technologies industry from a resource-based view. Furthermore, none
of these studies have investigated resource congruence and alliance
motive as potential sources of abnormal firm performance. This paper
extends upon current resource-based literature to discover and explore
linkages between these concepts and the practical performance of
strategic alliances. This study finds that strategic alliance
announcements have provided overall abnormal positive returns, and
that marketing alliances with marketing resource incongruence have
also contributed to significant firm performance.
Abstract: This paper presents the possibilities of using Weibull statistical distribution in modeling the distribution of defects in ERP systems. There follows a case study, which examines helpdesk records of defects that were reported as the result of one ERP subsystem upgrade. The result of the applied modeling is in modeling the reliability of the ERP system from a user perspective with estimated parameters like expected maximum number of defects in one day or predicted minimum of defects between two upgrades. Applied measurement-based analysis framework is proved to be suitable in predicting future states of the reliability of the observed ERP subsystems.
Abstract: In spite of the advent of new materials, clay bricks
remain, arguably, the most popular construction materials today.
Nevertheless the low cost and versatility of clay bricks cannot always
be associated with high environmental and sustainable values,
especially in terms of raw material sources and manufacturing
processes. At the same time, the worldwide agricultural footprint is
fast growing, with vast agricultural land cultivation and active
expansion of the agro-based industry. The resulting large quantities of
agricultural wastes, unfortunately, are not always well managed or
utilised. These wastes can be recycled, such as by retrieving fibres
from disposed leaves and fruit bunches, and then incorporated in
brick-making. This way the clay bricks are made a 'greener' building
material and the discarded natural wastes can be reutilised, avoiding
otherwise wasteful landfill and harmful open incineration. This study
examined the physical and mechanical properties of clay bricks made
by adding two natural fibres to a clay-water mixture, with baked and
non-baked conditions. The fibres were sourced from pineapple leaves
(PF) and oil palm fruit bunch (OF), and added within the range of
0.25-0.75 %. Cement was added as a binder to the mixture at 5-15 %.
Although the two fibres had different effects on the bricks produced,
cement appeared to dominate the compressive strength. The
non-baked bricks disintegrated when submerged in water, while the
baked ones displayed cement-dependent characteristics in
water-absorption and density changes. Interestingly, further increase
in fibre content did not cause significant density decrease in both the
baked and non-baked bricks.
Abstract: CIM is the standard formalism for modeling management
information developed by the Distributed Management Task
Force (DMTF) in the context of its WBEM proposal, designed to
provide a conceptual view of the managed environment. In this
paper, we propose the inclusion of formal knowledge representation
techniques, based on Description Logics (DLs) and the Web Ontology
Language (OWL), in CIM-based conceptual modeling, and then we
examine the benefits of such a decision. The proposal is specified
as a CIM metamodel level mapping to a highly expressive subset
of DLs capable of capturing all the semantics of the models. The
paper shows how the proposed mapping provides CIM diagrams with
precise semantics and can be used for automatic reasoning about the
management information models, as a design aid, by means of newgeneration
CASE tools, thanks to the use of state-of-the-art automatic
reasoning systems that support the proposed logic and use algorithms
that are sound and complete with respect to the semantics. Such a
CASE tool framework has been developed by the authors and its
architecture is also introduced. The proposed formalization is not
only useful at design time, but also at run time through the use of
rational autonomous agents, in response to a need recently recognized
by the DMTF.
Abstract: E-tailing websites are often perceived to be static, impersonal and distant. However, with the movement of the World Wide Web to Web 2.0 in recent years, these online websites have been found to display personalities akin to 'humanistic' qualities and project impressions much like its retailing counterpart i.e. salespeople. This paper examines the personality of e-tailing websites and their impact on consumers- initial trust towards the sites. A total of 239 Internet users participated in this field experiment study which utilized 6 online book retailers- websites that the participants had not previously visited before. Analysis revealed that out of four website personalities (sincerity, competence, excitement and sophistication) only sincerity and competence are able to exert an influence in building consumers- trust upon their first visit to the website. The implications of the findings are further elaborated in this paper.
Abstract: In the supply chain management customer is the most
significant component and mass customization is mostly related to
customers because it is the capability of any industry or organization
to deliver highly customized products and its services to the
respective customers with flexibility and integration, providing such
a variety of products that nearly everyone can find what they want.
Today all over the world many companies and markets are facing
varied situations that at one side customers are demanding that their
orders should be completed as quickly as possible while on other
hand it requires highly customized products and services. By
applying mass customization some companies face unwanted cost
and complexity. Now they are realizing that they should completely
examine what kind of customization would be best suited for their
companies. In this paper authors review some approaches and
principles which show effect in supply chain management that can be
adopted and used by companies for quickly meeting the customer
orders at reduced cost, with minimum amount of inventory and
maximum efficiency.
Abstract: This study examines appearances of brand placement
as an alternative communication strategy in television series by
focusing on Yalan Dünya which is one of the most popular television
series in Turkey. Consequently, this study has a descriptive research
design and quantitative content analysis method is used in order to
analyze frequency and time data of brand placement appearances in
first 3 seasons of Yalan Dünya with 16 episodes.
Analysis of brand placement practices in Yalan Dünya is dealt in
three categories: episode-based analysis, season-based analysis and
comparative analysis. At the end, brand placement practices in Yalan
Dünya are evaluated in terms of type, form, duration and legal
arrangements.
As a result of this study, it is seen that brand placement plays a
determinant role in Yalan Dünya content. Also, current legal
arrangements make brand placement closer to other traditional
communication strategies instead of differing brand placement from
them distinctly.
Abstract: The present work consecutively on synthesis and
characterization of composites, Al/Al alloy A 384.1 as matrix in
which the main ingredient as Al/Al-5% MgO alloy based metal
matrix composite. As practical implications the low cost processing
route for the fabrication of Al alloy A 384.1 and operational
difficulties of presently available manufacturing processes based in
liquid manipulation methods. As all new developments, complete
understanding of the influence of processing variables upon the final
quality of the product. And the composite is applied comprehensively
to the acquaintance for achieving superiority of information
concerning the specific heat measurement of a material through the
aid of thermographs. Products are evaluated concerning relative
particle size and mechanical behavior under tensile strength.
Furthermore, Taguchi technique was employed to examine the
experimental optimum results are achieved, owing to effectiveness of
this approach.
Abstract: This paper presents the experimental results on effect of applied voltage stress frequency to the occurrence of electrical treeing in 22 kV cross linked polyethylene (XLPE) insulated cable.Hallow disk of XLPE insulating material with thickness 5 mm taken from unused high voltage cable was used as the specimen in this study. Stainless steel needle was inserted gradually into the specimen to give a tip to earth plane electrode separation of 2.50.2 mm at elevated temperature 105-110°C. The specimen was then annealed for 5 minute to minimize any mechanical stress build up around the needle-plane region before it was cooled down to room temperature. Each specimen were subjected to the same applied voltage stress level at 8 kV AC rms, with various frequency, 50, 100, 500, 1000 and 2000 Hz. Initiation time, propagation speed and pattern of electrical treeing were examined in order to study the effect of applied voltage stress frequency. By the experimental results, initial time of visible treeing decreases with increasing in applied voltage frequency. Also, obviously, propagation speed of electrical treeing increases with increasing in applied voltage frequency.Furthermore, two types of electrical treeing, bush-like and branch-like treeing were observed.The experimental results confirmed the effect of voltage stress frequency as well.
Abstract: Solar energy has a major role in renewable energy
resources. Solar Cell as a basement of solar system has attracted lots
of research. To conduct a study about solar energy system, an
authenticated model is required. Diode base PV models are widely
used by researchers. These models are classified based on the number
of diodes used in them. Single and two-diode models are well
studied. Single-diode models may have two, three or four elements.
In this study, these solar cell models are examined and the simulation
results are compared to each other. All PV models are re-designed in
the Matlab/Simulink software and they examined by certain test
conditions and parameters. This paper provides comparative studies
of these models and it tries to compare the simulation results with
manufacturer-s data sheet to investigate model validity and accuracy.
The results show a four- element single-diode model is accurate and
has moderate complexity in contrast to the two-diode model with
higher complexity and accuracy
Abstract: Basel III (or the Third Basel Accord) is a global
regulatory standard on bank capital adequacy, stress testing and
market liquidity risk agreed upon by the members of the Basel
Committee on Banking Supervision in 2010-2011, and scheduled to
be introduced from 2013 until 2018. Basel III is a comprehensive set
of reform measures. These measures aim to; (1) improve the banking
sector-s ability to absorb shocks arising from financial and economic
stress, whatever the source, (2) improve risk management and
governance, (3) strengthen banks- transparency and disclosures.
Similarly the reform target; (1) bank level or micro-prudential,
regulation, which will help raise the resilience of individual banking
institutions to periods of stress. (2) Macro-prudential regulations,
system wide risk that can build up across the banking sector as well
as the pro-cyclical implication of these risks over time. These two
approaches to supervision are complementary as greater resilience at
the individual bank level reduces the risk system wide shocks.
Macroeconomic impact of Basel III; OECD estimates that the
medium-term impact of Basel III implementation on GDP growth is
in the range -0,05 percent to -0,15 percent per year. On the other hand
economic output is mainly affected by an increase in bank lending
spreads as banks pass a rise in banking funding costs, due to higher
capital requirements, to their customers. Consequently the estimated
effects on GDP growth assume no active response from monetary
policy. Basel III impact on economic output could be offset by a
reduction (or delayed increase) in monetary policy rates by about 30
to 80 basis points. The aim of this paper is to create a framework
based on the recent regulations in order to prevent financial crises.
Thus the need to overcome the global financial crisis will contribute
to financial crises that may occur in the future periods. In the first
part of the paper, the effects of the global crisis on the banking
system examine the concept of financial regulations. In the second
part; especially in the financial regulations and Basel III are analyzed.
The last section in this paper explored the possible consequences of
the macroeconomic impacts of Basel III.
Abstract: In this empirical research, how marketing managers evaluate their firms- performances and decide to make innovation is examined. They use some standards which are past performance of the firm, target performance of the firm, competitor performance, and average performance of the industry to compare and evaluate the firms- performances. It is hypothesized that marketing managers and owners of the firm compare the firms- current performance with these four standards at the same time to decide when to make innovation relating to any aspects of the firm, either management style or products. Relationship between the comparison of the firm-s performance with these standards and innovation are searched in the same regression model. The results of the regression analysis are discussed and some recommendations are made for future studies and applicants.
Abstract: The research object was apple-black currant
marmalade candies. Experiments were carried out at the Faculty of
Food Technology of the Latvia University of Agriculture. An active
packaging in combination with modified atmosphere (MAP, CO2
100%) was examined and compared with traditional packaging in air
ambiance. Polymer Multibarrier 60 and paper bags were used.
Influence of iron based oxygen absorber in sachets of 500 cc
obtained from Mitsubishi Gas Chemical Europe Ageless® was tested
on the quality during the shelf of marmalade. Samples of 80±5 g
were packaged in polymer pouches (110 mm x 110 mm),
hermetically sealed by MULTIVAC C300 vacuum chamber machine,
and stored in room temperature +20.0±1.0 °C. The physiochemical
properties – weight losses, moisture content, hardness, aw, pH, colour,
changes of atmosphere content (CO2 and O2) in headspace of packs,
and microbial conditions were analysed before packaging and in the
1st, 3rd , 5th, 8th, 11th and 15th weeks of storage.