Abstract: In today's business world, in which it is difficult to survive, the economic life of products, services or knowledge is considerably reduced. Competitors produce similar products or extra-featured ones instantly. In this environment, the contribution of companies to the social and economic environment is a preferred criterion by consumers alongside products or services. Therefore, consumers need to obtain more detailed information about companies. Besides, this drastic change in the market encourages companies to become sustainable. Sustainable business means the company puts consumed products back. Corporate sustainability, corresponds to sustainability at the level of the company, and gives equal importance to company growth and profitability together with environmental and social issues. The BIST Sustainability Index started to be calculated by the Istanbul Stock Exchange (BIST) in 2014 to evaluate the sustainability performance of companies in Turkey. The main objective of this study is to present the importance of sustainability reports in Turkey. To this aim, the performances of 15 companies in the BIST Sustainability Index were compared the periods before and after entering the index. On the other hand, sustainability reporting practices should be encouraged to increase studies on this issue. In this context, to remain on the agenda of the issue is a further objective of this study. To achieve these objectives, the financial data of the companies in the period before and after entering to the BIST Sustainability Index were analyzed using t-test in Statistical Package for the Social Sciences (SPSS) package. The results of the study showed that no significant difference between the performances of the companies in terms of the net profit margin, the return on assets and equity capital in these periods could be found. Therefore, it can be said that insufficient importance is given to sustainability issues in Turkey. The reasons for this situation might be considered as a lack of awareness due to the recent introduction and calculation of the index. It is expected that the awareness of firms and investors about sustainability will increase, and that they will demonstrate the necessary importance to this issue over time.
Abstract: Cerebral palsy is primarily reflected in the disorder of the development of movement and posture, which may be accompanied by sensory disturbances, disturbances of perception, cognition and communication, behavioural disorders and epilepsy. According to current inclusive attitudes towards people with disabilities implies that full social participation of children with cerebral palsy means inclusion in all activities in family, peer, school and leisure environments in the same scope and to the same extent as is the case with the children of proper development and without physical difficulties. Due to the fact that it has been established that the quality of children's participation in primary school is directly related to their social inclusion in future life, the aim of the paper is to identify predictors of social participation, respectively, and in particular, factors that could to improve the quality of social participation of children with cerebral palsy, in the primary school environment in Czech Republic. The study includes children with cerebral palsy (n = 75) in the Czech Republic, aged between six and 12 years who attend mainstream or special primary schools to the sixth grade. The main instrument used was the first and third part of the School function assessment questionnaire. It will also take into account the type of damage assessed according to a scale the Gross motor function classification system, five–level classification system for cerebral palsy. The research results will provide detailed insight into the degree of social participation of children with cerebral palsy and the factors that would be a potential cause of their levels of participation, in regular and special primary schools, in different socioeconomic environments in Czech Republic.
Abstract: Several studies have proposed a one-size fit all approach to Corporate Social Responsibility (CSR) practices, such that CSR as it applies to developed countries is adapted to developing countries, ignoring the differing institutional environments (such as the regulative, economic, social and political environments), which affects the profitability and practices of businesses operating in them. CSR as it applies to filling institutional gaps in developing countries, was categorized into four themes: environmental protection, product and service innovation, social innovation and local cluster development. Based on the four themes, the study employed a qualitative research approach through the use of interviews and review of available publications to study the influence of institutional environments on CSR practices engaged in by three renewable energy firms operating in Nigeria. Over the course of three 60-minutes sessions with the top management and selected workers of the firms, four propositions were made: regulatory environment influences environmental protection practice of Nigerian renewable firms, economic environment influences product and service innovation practice of Nigerian renewable energy firms, the social environment impacts on social innovation in Nigerian renewable energy firms, and political environment affects local cluster development practice of Nigerian renewable energy firms. It was also observed that beyond institutional environments, the international exposure of an organization’s managers reflected in their approach to CSR. This finding on the influence of international exposure on CSR practices creates an area for further study. Insights from this paper are set to help policy makers in developing countries, CSR managers, and future researchers.
Abstract: Current industry is facing the rapid development of new technology in the world and fierce changes of economic environment in the society so that the industry development trend gradually does not focus on labor, but leads the industry and the academic circle with innovation and creativity. The development trend in machinery industry presents the same situation. Based on the aim of Creativity White Paper, Ministry of Education in Taiwan promotes and develops various creativity contests to cope with the industry trend. Domestic students and enterprises have good performance on domestic and international creativity contests in recent years. There must be important creative elements in such creative works to win the award among so many works. Literature review and in-depth interview with five creativity contest awarded instructors are first proceeded to conclude 15 machinery creative elements, which are further compared with the creative elements of machinery awarded creative works in past five years to understand the relationship between awarded works and creative elements. The statistical analysis results show that IDEA (Industrial Design Excellence Award) contains the most creative elements among four major international creativity contests. That is, most creativity review focuses on creative elements that are comparatively stricter. Concerning the groups participating in creativity contests, enterprises consider more creative elements of the creative works than other two elements for contests. From such contest works, creative elements of “replacement or improvement”, “convenience”, and “modeling” present higher significance. It is expected that the above findings could provide domestic colleges and universities with reference for participating in creativity related contests in the future.
Abstract: Health of a person plays a vital role in the collective
health of his community and hence the well-being of the society as a
whole. But, in today’s fast paced technology driven world, health
issues are increasingly being associated with human behaviors – their
lifestyle. Social networks have tremendous impact on the health
behavior of individuals. Many researchers have used social network
analysis to understand human behavior that implicates their social
and economic environments. It would be interesting to use a similar
analysis to understand human behaviors that have health
implications. This paper focuses on concepts of those behavioural
analyses that have health implications using social networks analysis
and provides possible algorithmic approaches. The results of these
approaches can be used by the governing authorities for rolling out
health plans, benefits and take preventive measures, while the
pharmaceutical companies can target specific markets, helping health
insurance companies to better model their insurance plans.
Abstract: The objective of this paper is to present the process of
change in management accounting in Romania, a former communist
country from Eastern Europe. In order to explain this process, we used
the contingency and institutional theories. We focused on the
following directions: the presentation of the scientific context and
motivation of this research and the case study. We presented the state
of the art in the process of change in the management accounting from
the international and national perspective. We also described the
evolution of management accounting in Romania in the context of
economic and political changes. An important moment was the fall of
communism in 1989. This represents a starting point for a new
economic environment and for new management accounting.
Accordingly, we developed a case study which presented this
evolution. The conclusion of our research was that the changes in the
management accounting system of the company analysed occurred in
the same time with the institutionalisation of some elements (e.g.
degree of competition, training and competencies in management
accounting). The management accounting system was modelled by the
contingencies specific to this company (e.g. environment, industry,
strategy).
Abstract: This study examines the value analysis in Islamic and conventional banking services in Pakistan. Many scholars have focused on co-creation of values in services but mainly economic values not non-economic. As Islamic banking is based on Islamic principles that are more concerned with non-economic values (well-being, partnership, fairness, trust worthy, and justice) than economic values as money in terms of interest. This study is important to know the providers point of view about the co-created values, because, it may be more sustainable and appropriate for today’s unpredictable socio-economic environment. Data were collected from 4 banks (2 Islamic and 2 conventional banks). Text mining technique is applied for data analysis, and values with 100% occurrences in Islamic banking are chosen. The results reflect that Islamic banking is more centric towards non-economic values than economic values and it promotes team work and partnership concept by applying Islamic spirit and trust worthiness concept.
Abstract: The purpose of this paper is to examine co-creation of non-economic values in Islamic banking services and their significance for service science by comparing Islamic and conventional banking services. Although many scholars have discussed co-creation of values in services, most of them have focused on only economic values.
Following Sharia (Islamic principles that are based on Qur’an and Sunnah) traditions, Islamic banking is more concerned with such non-economic values as well-being, partnership, fairness, trust, and justice, than such economic values as money in terms of interest. Therefore, it may be more sustainable and suitable for today’s unpredictable socio-economic environments.
We also argue that Islamic banking is essentially a value co-creation business model that fits better with the so-called Service-Dominant Logic (SDL) than conventional banking. This paper explores a new frontier of value co-creation in services, thereby contributing to further development of service science.
Abstract: The wisest economic decision of United States in the
20th century was establishing the favorable international monetary
system, and capturing the leadership position in it. This decision gave
economic hegemony to the US for the next more than 7 decades. The
continuation of this hegemony till the next decade seems difficult as
the US economy is under continuous streams of recessions since
2007. On the other hand, Chinese economy is progressing with a
very fast speed and is estimated to pass the US economy till 2025, in
various aspects. Will the US be able to continue its leadership in the
IMS? Will China replace US in the international monetary system?
The answers to these questions have been explored by comparing the
economic competitiveness of US and China, with respect to each
other. The paper concludes that the change in global economic
environment will compel US to share the leadership of international
monetary system with China. This sharing will solve most problems
of the current IMS, but will also birth some new problems.
Abstract: This paper deals principally with the socio-economic impact on the local Iban community in Mukah Division, Sarawak; with the commencement of the open-cut coal mining industry since 2003. To-date there are no actual studies being carried out by either the public or private sector to truly analyze how the Iban community is coping with the advent of a large influx of cash into their society. The Iban community has traditionally been practicing shifting cultivation and farming of domesticated animals; with a portion of the younger generation working as laborers and professional. This paper represents the views and observations of the author supported by some statistical facts extracted from published articles and non-published reports. The paper deals primarily in the following areas: • Background of the coal mining industry in Mukah Division, Sarawak; • Benefits of the coal mining industry towards the Iban community; • Issues / Problems arise in the Iban community because of the presence of the coal mining industry; and • Possible actions that need to be taken to overcome these issues/ problems.
Abstract: In Algeria, liberalization reforms undertaken since the 1990s have resulted in negative effects on the development and management of irrigation schemes, as well as on the conditions of farmers. Reforms have been undertaken to improve the performance of irrigation schemes, such as the national plan of agricultural development (PNDA) in 2000 and the water pricing policy of 2005. However, after implementation of these policies, questions have arisen with regard to irrigation performance and its suitability for agricultural development. Hence, the aim of this paper is to provide insight into the profitability of irrigation during the transition period under current irrigation agricultural policies in Algeria. By using the method of farm crop budget analysis in the East Mitidja irrigation scheme, the returns from using surface water resources based on farm typology were found to vary among crops and farmers- groups within the scheme. Irrigation under the current situation is profitable for all farmers, including both those who benefit from subsidies and those who do not. However, the returns to water were found to be very sensitive to crop price fluctuations, particularly for non-subsidized groups and less so for those whose farming is based on orchards. Moreover, the socio-economic environment of the farmers contributed to less significant impacts of the PNDA policy. In fact, the limiting factor is not only the water, but also the lack of land ownership title. Market access constraints led to less agricultural investment and therefore to low intensification and low water productivity. It is financially feasible to recover the annual O&M costs in the irrigation scheme. By comparing the irrigation water price, returns to water, and O&M costs of water delivery, it is clear that irrigation can be profitable in the future. However, water productivity must be improved by enhancing farmers- income through farming investment, improving assets access, and the allocation of activities and crops which bring high returns to water; this could allow the farmers to pay more for water and allow cost recovery for water systems.
Abstract: In the way of growing and developing firms especially
high-tech firms, on many occasions manager of firm is mainly involved in solving problems of his business and decision making about executive activities of the firm, while besides executive
measures, attention to planning of firm's success and growth way and
application of long experience and sagacity in designing business model are vital and necessary success in a business is achieved as a
result of different factors, one of the most important of them is designing and performing an optimal business model at the beginning
of the firm's work. This model is determining the limit of profitability
achieved by innovation and gained value added. Therefore, business
model is the process of connecting innovation environment and
technology with economic environment and business and is important
for succeeding modern businesses considering their traits.
Abstract: This paper is concerned with the permanence and extinction problem of enterprises cluster constituted by m satellite enterprises and a dominant enterprise. We present the model involving impulsive effect based on ecology theory, which effectively describe the competition and cooperation of enterprises cluster in real economic environment. Applying comparison theorem of impulsive differential equation, we establish sufficient conditions which ultimately affect the fate of enterprises: permanence, extinction, and co-existence. Finally, we present numerical examples to explain the economical significance of mathematical results.
Abstract: Due to the increasing and varying risks that economic units face with, derivative instruments gain substantial importance, and trading volumes of derivatives have reached very significant level. Parallel with these high trading volumes, researchers have developed many different models. Some are parametric, some are nonparametric. In this study, the aim is to analyse the success of artificial neural network in pricing of options with S&P 100 index options data. Generally, the previous studies cover the data of European type call options. This study includes not only European call option but also American call and put options and European put options. Three data sets are used to perform three different ANN models. One only includes data that are directly observed from the economic environment, i.e. strike price, spot price, interest rate, maturity, type of the contract. The others include an extra input that is not an observable data but a parameter, i.e. volatility. With these detail data, the performance of ANN in put/call dimension, American/European dimension, moneyness dimension is analyzed and whether the contribution of the volatility in neural network analysis make improvement in prediction performance or not is examined. The most striking results revealed by the study is that ANN shows better performance when pricing call options compared to put options; and the use of volatility parameter as an input does not improve the performance.
Abstract: The project describes the modeling of various
architectures mechatronics specifically morphologies of robots in an educational environment. Each structure developed by students of
pre-school, primary and secondary was created using the concept of
reverse engineering in a constructivist environment, to later be integrated in educational software that promotes the teaching of
educational Robotics in a virtual and economic environment.
Abstract: This paper evaluates the association between
economic environment in the districts of Madrid (Spain) and physical
inactivity, using income per capita as indicator of economic
environment. The analysis included 6,601 individuals aged 16 to 74
years. The measure of association estimated was the prevalence odds
ratio for physical inactivity by income per capita. After adjusting for
sex, age, and individual socioeconomic characteristics, people living
in the districts with the lowest per capita income had an odds ratio for
physical inactivity 1.58 times higher (95% confidence interval 1.35 to
1.85) than those living in districts with the highest per capita income.
Additional adjustment for the availability of sports facilities in each
district did not decrease the magnitude of the association. These
findings show that the widely believed assumption that the
availability of sports and recreational facilities, as a possible
explanation for the relation between economic environment and
physical inactivity, cannot be considered a universal observation.