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Issue
1, Volume 9, January 2012
Title of the Paper:
Customer Needs and Technology Analysis in New Product Development via Fuzzy
QFD and Delphi
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Authors:
Zon-Yau Lee, Chung-Che Pai, Chin-Fu Yang
Abstract: The advanced technology in terms of interaction between human and
machine as well as considerable Emotion Interaction Products (EIP) promoted by
companies have facilitated a new era. For example, voice recognition and
synthesis, hand writing and hand signal identification and virtual reality
technologies have enabled the connection between human and computer
interaction. Moreover, the application is expended from PC, Personal Digital
Assistant (PDA) to mobile phone. Future technological products are expected to
respond human emotion and improve human life quality. This research centers on
EIP and compares 20 customer needs and 14 technologies using Quality Function
Deployment (QFD). Additionally, experts and professionals are invited to
express their opinions towards EIP through Fuzzy Delphi Method (FDM) to
discuss the dimensions and criteria to be fulfilled. The results demonstrate
which customer needs and technologies should be heavily focused, and
contribute to design and manufacture EIP effectively.
Keywords:
Emotion Interaction Product (EIP), Human Machine Interaction, Quality Function
Deployment (QFD), Fuzzy Delphi Method (FDM)
Title of the Paper: Тhе
Comparative Review of the Impact of Central Banks on the Dynamics of
Fluctuations in the Financial Markets
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Authors:
Milorad Bejatovic, Marijana Dukic-Mijatovic, Zaklina Spalevic
Abstract: In this paper the authors analyze comparative review of the impact
of central banks on dynamics of fluctuations in the financial markets and
point out the significance of the heretofore accomplished harmonization of the
domestic banking legislation with the current world standards set up in the
field of banking, pointing out that we, by rendering a modern law, such as the
Law on Banks, created prerequisites not only for the development of the
banking system but for the development of mortgage and financial markets which
are characteristic for the countries in transition at the very beginning of
development. The qualities of the Law on banks are both the direct
implementations of the world corporative solutions and harmonization with the
regulations of the European Union ( Directive 2000/12/EC) and principles and
definitions established by the Basel Committee for banking supervision (Basel
I, Basel II). Authors concluded that it is necessary to continue with the
harmonization of the domestic banking legislation and the development of the
domestic mortgage and financial market, especially instructed by the
experiences of the countries which have developed economies, taking into
consideration the fact that current global recession is actually a
circumstance of the shortcomings in the organization of the corporative
management in the banks, firstly investment ones, crisis of the developed
mortgage and financial markets, but also a liberal politics of the central
banks. Conclusions have been verified with results of empirical research of
various scientists in the field of economy.
Keywords:
financial markets, central banks, financial systems, credit capacity of banks,
corporate management, regulatory framework, mortgage market
Title of the Paper: The
Consequences of Climate Change and Social Responsible Behaviour
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Authors:
Mirela Matei, Cătălin Popescu, Irina Gabriela Rădulescu
Abstract: Taking in account its implications, the climate change is an
economic and social issue. The dimensions of this phenomenon are dramatic and
because of that, the international and regional organizations and public have
initiated different adaptation and mitigation measures in order to cope with
this problem. The private sector is also preoccupied by this topic and
financial institutions, companies, portfolio investors and exchanges have
tried to adapt to this new challenge. On financial market, the innovation is
intense, and in some directions, this phenomenon is determined by climate
change. New financial products have been lunched and the interest of investors
for these products is high because they have additional speculative and
hedging instruments. In addition, the behaviour of public authorities,
investors and corporations has been changed, in some extent, by the climate
change. For example, the public authorities from developed countries initiated
different green public procurement policies, the corporations run social
responsible programs with an environmental component, and portfolio investors
are focused on environmental, social and governance (ESG) issues in order to
make social responsible investment.
Keywords:
Climate change, innovation, finance, exchange, carbon, corporate social
responsibility
Title of the Paper:
Internal Client Satisfaction Improvement Plan Using a Performance Model
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Authors:
Pansoo Kim, Jihye Lee
Abstract: Education has been categorized as an intangible service industry
based on the characteristics of its service activities by Christopher [3]. In
order to enhance the service quality of education it is critical to attain a
high degree of satisfaction of teachers, who are the internal customers, which
will help to increase the degree of satisfaction of students, who are the
external customers of education. As a result, it is expected that the general
quality of education services will be enhanced. This study measures the
degrees of satisfaction among teachers and evaluates the importance of various
factors in the teaching environment that are critical to teachers’ job
satisfaction. The results of an analysis based on teachers’ gender, career,
and workplace indicate that the most critical factors are performance-based
reward systems and welfare programs.
Keywords:
Performance Model, Service Quality, Service Quality of Education, Internal
Client
Title of the Paper:
Profile of Absolute Poverty in Romania by some Key Characteristics and
Determinants
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Authors:
Cristina Stroe, Eva Militaru, Silvia Cojanu, Codruta Dragoiu, Isadora Lazar,
Ioana Malureanu
Abstract: This paper presents a profile of absolute poverty in Romania, taking
into account its most important characteristics and main determinants. The
area of residence, age, employment, education and household size were used to
conduct the analysis of absolute poverty in Romania. For each type of the main
determinants, an analysis for the absolute poverty rate, for the distribution
of the poor people, and for the distribution in the total population was made.
The analysis and the correlation between the 3 indicators mentioned above were
made in dynamics, during 2003-2006. All the analysis of these indicators
regarding the poverty rates, which combine important statistical data both in
the total population of poor people and in the total population bring a
significant contribution to the correct understanding of the positive aspects
related to poverty reduction, representing at the same time guidelines and
warning signs regarding the necessity of further documented, coordinated and
applied measures in the field of poverty reduction.
Keywords:
absolute poverty, poverty indicators, dynamics, determinants, distribution
Title of the Paper:
Worldwide Image of Relative Poverty: Comparative Analysis in Dynamics of
Laeken Indicators
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Authors:
Cristina Stroe, Eva Militaru, Silvia Cojanu, Isadora Lazar, Codruta Dragoiu,
Eliza-Olivia Lungu, Ioana Malureanu
Abstract: The paper presents several poverty and social indicators at a
European and comparative level and in dynamics for 30-32 countries during
2005-2008. Our analysis is extended over a large period and for the whole
portfolio of social European indicators. However, only a part of them is
presented in this paper. The purpose of this article is to present and analyze
the poverty and social exclusion indicators all over the world (for countries
reporting these indicators to EUROSTAT), because the level of poverty should
be permanently monitored in order to develop strategic documents and to
globally reduce poverty and its extreme forms.
Keywords:
Relative poverty, poverty indicators, dynamics, inequality, education,
employment
Issue
2, Volume 9, April 2012
Title of the Paper: A New
N-factor Affine Term Structure Model of Futures Price for CO2 Emissions
Allowances: Empirical Evidence from the EU ETS
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Authors:
Kai Chang, Su-Sheng Wang, Jie-Min Huang
Abstract: In recent years, carbon emission markets have become liquid and
promising markets within the European Union emissions trading scheme (EU ETS).
In order to fit and forecast futures price for CO2 emissions allowances, we
propose a new N-factor affine term structure model for CO2 futures price and
estimate parameters in the new affine model by using the Kalman filter
technique. Our empirical results show that CO2 futures price follow
significant mean-reversion process, and the estimated coefficients of
meanreversion speed, market risk premium, volatility and correlation among
state variables are almost significant. Compared with one-factor model, mean
absolute errors (MAE) and root mean square errors (RMSE) in prediction errors
from two-factor and three-factor model are lower, accordingly two-factor and
three-factor model can accurately describe the term structure of CO2 futures
price.
Keywords:
CO2 emissions allowances, futures prices, new affine model, term structure,
Kalman filter
Title of the Paper:
Cohesion Policy, Convergence and Regional Disparities: The Case of the
European Union
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Authors:
Michal Tvrdon
Abstract: The aim of this paper is to discuss development of EU Cohesion
Policy and its efficiency. This policy has become the core policy among EU
economic policies. Regional disparities have become a debated topic in the
last decades and this paper also deals with the development of regional income
disparities and the convergence process in selected EU Member States. Emphasis
is placed on selected new Member States (Visegrad group). The first part of
the paper offers a review of EU Cohesion Policy evolution, the second part
deals with different approaches to measurement of regional disparities.
Regional trends are mainly measured using a variety of approaches – the
coefficient of variation, the Herfindahl index, the Geographic concentration
index and the Theil index. The third part of the paper is based on empirical
data and calculations of the indices or the coefficients. Using gross domestic
product and gross domestic product per capita in purchasing power standard
data, the paper examines trends in regional disparities at the NUTS 2 level
during the period 1996-2007. The analysis shows a significant convergence
process and a perceptible increase in regional disparities in the case of new
Member States.
Keywords:
Cohesion policy, Convergence, European Union, Regional disparities, Visegrad
group
Title of the Paper:
Performance Modeling of Projects with Multi-Variate Input and an Output Using
Data Envelopment Analysis
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Authors:
Ku Ruhana Ku-Mahamud, Faudziah Ahmad, Maznah Mat Kasim, Nor Farzana Abd. Ghani, Fader Abdullah
Abstract: Current efficiency models have not been used to measure the
efficiency of projects conducted within an organization. Hence, the study aims
to develop an efficiency model based on projects undertaken within an
organization using non-parametric approach, specifically, data envelopment
analysis. In-Fusion Solutions Sdn. Bhd. (ISSB) was chosen as the case study
and data were collected from primary and secondary sources. Primary data were
obtained through interviews conducted with personnel from the main office and
the company branch in Chennai, India. Secondary data were obtained from
published and unpublished documents, consisting of thirty-nine completed
projects. The data used were of three inputs and an output namely, labor cost,
material cost, project duration, and project contract value, respectively. The
experimental result was able to identify efficient and inefficient projects.
The results obtained showed that three (3) of the projects were efficient,
while the remaining projects were not. Improvements for the inefficient
projects were suggested based on input and output orientation.
Keywords:
Data envelopment analysis, efficiency measurement model; project efficiency;
non-parametric model
Title of the Paper:
Gambling Industry and Corporate Social Responsibility – The Czech Experience
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Authors:
Liběna Tetřevová, Jan Svědík
Abstract: This article deals with the context of the social responsibility of
enterprises and the gambling industry, and it illustrates these interactions
and links on the example of gambling operators in the Czech Republic. The
introduction defines the term of the corporate social responsibility within an
alternative concept and discusses possible areas of the corporate social
responsibility. Furthermore, the attention is paid to the methods of measuring
social responsibility and to its indicators from the general point of view.
Subsequently, we suggest indicators of corporate social responsibility
measurement in the gambling industry in the economic, social, environmental,
ethical and philanthropic areas. On the basis of these indicators, we assess
behaviour of gambling operators in the Czech Republic and recommend the areas
and measures of possible changes.
Keywords:
Corporate social responsibility, areas of corporate social responsibility,
indicators of corporate social responsibility, gambling, gambling providers,
gambling industry, stakeholders
Title of the Paper:
Industrial Production Management: Tendencies and Reflections
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Authors:
Emmanouil Katsanos
Abstract: Modern Management can be thought of as a synergy between humans and
machines in order to produce value. Management determines the relationships of
the company with its environment by taking into account the production
process, the type of products produced, the purchasing power, the geographical
dispersion and the effect of the society on the company. This means that
managers need to have a deep understanding of theories, methodologies and
systems of industrial production Management in order to take appropriate
decisions. This paper analyzes such theories, methodologies and systems from
various perspectives and presents a critical review of the information
required to take decisions in the various production systems. The paper closes
with research findings describing the tendencies and necessary requirements
for an efficient industrial production process.
Keywords:
Industrial production management, manufacturing systems, operations
management, production control
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