Kaos Teorisi Çerçevesinde Bireysel Yatırımcı Davranışının Analiz

Author(s): Mehmet Burak Kahyaoğlu,Süleyman İç / Language(s): Turkish Issue: 1/2015

Recently the chaos theory is accepted as an alternative scientific approach and the number of researches which are based on it increases as well. Moreover, due to their dynamic nature stock markets accept chaos theory as an examining field. The purpose of this study was to examine the investors’ behavior within the framework of chaos theory. In this context, the changes in statistically significant correlations within the operations’ volumes of 68 individual investors in Borsa İstanbul were established. In this study the movements of prices were found to be highly effective on occurred correlations, in other words, during the times when shares’ prices are on an increase the number of negative correlations within the investors are on an increase as well.

Bir Kargo Firmasının Ek Taleplerinin Karşılanması İçin Kısıtlar Kuramı Yaklaşımı Uygulaması

Author(s): Murat Ayanoğlu,Merve Şakar / Language(s): Turkish Issue: 2/2015

It is observed that customer demands from the cargo companies are increased before the Christmas and other holiday. Since it is difficult to meet these demands with available personel and equipment, acceleration of the process will be provided by eliminating unnecessary processes with theory of constraints approach and thereby it will be possible to meet demands. The purpose of this work is developing alternative plans without disturbing optimization for the additional demands arising from these busy periods of the cargo companies. In this context, it is provided with face to face interviews with managers of cargo company which is the subject of research, depth research on the functioning of the process has been done. At this point according to survey results,this study differs from other studies for offer alternative solutions to in order to meet additional demands. As a result, this work is expected to provide an enlightening perspective to companies having difficulty to meet additional demands during peak periods.

Systematic decision making: a extended multi-criteria decision making model

Author(s): Xiaohan Yu,Zeshui Xu,Junquan Hu,Shousheng Liu / Language(s): English Issue: 1/2017

Considering some complex multi-criteria decision making (MCDM) problems, in which decision environment is dynamic, there are various interdependences among criteria, and plans (systematized alternatives) consisting of multiple time sequential interdependent actions, cannot be well handled by means of the existing MCDM methods, therefore, we develop a systematic decision making (SDM) as an improvement and supplement of the classic MCDM in this paper. The SDM is for prescribing methods of evaluating and selecting the most favourite plan (a system) from a group of feasible ones concerning influences of time-varying criteria system under dynamic external environment. Through detailed analysis, we separate a SDM problem into multi-period MCDM sub-problems, and then a plan can be a combination of time sequential strategies in which each strategy (a subset of actions) is a feasible decision choice of corresponding MCDM sub-problem. After clarifying variety of interdependences, interactions and interrelationships in the SDM problems, such as criteria-interdependences, action-interdependences, interactions between criteria and criteria system, interactions between actions and strategies, interactions between strategies and plans, interactions between internal environment (criteria system) and external environment, feedbacks from external environment to the corresponding MCDM sub-problems, and interrelationships among MCDM sub-problems and so on, we transform the SDM into multi-period interrelated MCDM model which can be dealt with more easily by using multiple optimization models. At the end of the paper, three typical properties of the SDM are proposed and most of the existing MCDM models are pointed out as special cases of the SDM.

Nonlinear genetic-based model for supplier selection: a comparative study

Author(s): Alireza Fallahpour,Atefeh Amindoust,Jurgita Antuchevičienė,Morteza Yazdani / Language(s): English Issue: 1/2017

Evaluation and selection of candidate suppliers has become a major decision in business activities around the world. In this paper, a new hybrid approach based on integration of Gene Expression Programming (GEP) with Data Envelopment Analysis (DEA) (DEA-GEP) is presented to overcome the supplier selection problem. First, suppliers’ efficiencies are obtained through applying DEA. Then, the suppliers’ related data are utilized to train GEP to find the best trained DEA-GEP algorithm for predicting efficiency score of Decision Making Units (DMUs). The aforementioned data is also used to train Artificial Neural Network (ANN) to predict efficiency scores of DMUs. The proposed hybrid DEA-GEP is compared to integrated approach of Artificial Neural Network with Data Envelopment Analysis (DEA-ANN) to support the validity of the proposed model. The obtained results clearly show that the model based on GEP not only is more accurate than the DEA-ANN model, but also presents a mathematical function for efficiency score based on input and output data set. Finally, a real-life supplier selection problem is presented to show the applicability of the proposed hybrid DEA-GEP model.

Managementul calității și execelența în afaceri

Author(s): Vasile Dinu / Language(s): English,Romanian Issue: 44/2017

Can organisation capital improve corporate performance through direct path or mediating effect surveillance of board function: evidence from Taiwan?

Author(s): Mu-Shun Wang,Shih-Tong Lu / Language(s): English Issue: 2/2017

This paper examines whether board function is associated with improved corporate performance. Path analysis is used to investigate the direct and indirect links between four performance variables and organization capital. A hypothesis is developed based upon the incorporation of knowledge-based resources. The idea is that the board of directors has monitoring and consultation functions, propelling organizational development. We use panel data with random effects for 1,355 firms listed on the Taiwan Stock Exchange from 2001 to 2012. The two-stage leastsquares method is used to explore the mediating effect among board function, organization capital and corporate performance. Both an aggregated model and the EP model are investigated specifying both a direct link and a mediated link with organization capital. It is concluded that the governance effect has a direct influence in the relationship between board function and corporate governance, and that organization capital is significantly associated with the performance variables. In terms of the counselling function of the board, inside directors are significantly related to dynamic capacity, which improves corporate performance for the long run.

Does firm’s higher innovation potential lead to its superior financial performance? Case of CEE countries

Author(s): Julia Bistrova,Natalja Lace,Rima Tamošiūnienė,Konstantins Kozlovskis / Language(s): English Issue: 2/2017

Innovation is one of the most commonly used word in the business and academic world. Naturally the firms are willing to innovate to leverage on future profits and growth generated by the new products and supported by temporary monopolistic positions on the market. However, the question is about how much the companies should invest to record higher profitability. The authors tried to answer this question analyzing the companies within the Central and Eastern European region taking intangible assets as innovation proxy. It was concluded that the companies having higher investments in the intangible assets are able to generate higher margins. However, positive effect of possibly higher innovation potential is seen only if investments in intangibles are substantial, i.e. over 10%.

AWARENESS ABOUT MEDIATION AS AN ALTERNATIVE FORM OF DISPUTE RESOLUTION: PRACTICES IN THE REPUBLIC OF MACEDONIA

Author(s): Aleksandra Stoilkovska,Valentina Mucunska Palevski,Jana Ilieva / Language(s): English Issue: 1/2015

Disputes resolved with the use of mediation as a form of dispute resolution are rare (or at striking level) in the practice in our country. In order to increase the number of disputes that were successfully completed based on mediation, it is necessary for the people to know about the alternative forms of resolving litigation. The lack of information contributes to the lack of trust in any resolution of the dispute except in the court. There is also the positive practice of resolving disputes through mediation macular placed in public. This Paper treats the action research which aims to connect the people awareness of mediation as a form of negotiation through which can quickly and easily, without major financial implications, to resolve any dispute. This paper is based on a survey with the members of Chamber of Mediators of the Republic of Macedonia. These results clearly confirm the lack of information among the local population about the forms of dispute resolution that are available and the benefits they offer.

Развитие на недвижимите имоти с търговско предназначение в България

Author(s): Vanya Pandakova / Language(s): Bulgarian Issue: 4/2016

Commercial real estates (modern shopping centers respectively) are an integral part of urban structure. Their development as real estate objects can be influenced by many factors. The present paper examines factors which determine the profitability of the shopping centers as commercial real estates and offers a comparative analysis with other European markets on key indicators, and on this basis, summarizes the main conclusions and recommendations on opportunities for development of shopping centers in Bulgaria. For the purposes of study, methods such as critical analysis and synthesis, induction and deduction and comparison and expert appraisal are being used. The results of the study are used to outline the main problems facing the shopping centers development in Bulgaria and necessary actions in this area.

Development of Commercial Real Estates in Bulgaria

Author(s): Vanya Pandakova / Language(s): English Issue: 4/2016

Commercial real estates (modern shopping centers respectively) are an integral part of urban structure. Their development as real estate objects can be influenced by many factors. The present paper examines factors which determine the profitability of the shopping centers as commercial real estates and offers a comparative analysis with other European markets on key indicators, and on this basis, summarizes the main conclusions and recommendations on opportunities for development of shopping centers in Bulgaria. For the purposes of study, methods such as critical analysis and synthesis, induction and deduction and comparison and expert appraisal are being used. The results of the study are used to outline the main problems facing the shopping centers development in Bulgaria and necessary actions in this area.

The Role of Trust In Creating Cooperatives. Example of Europe– Selected Aspects

Author(s): Aleksandra Grabowska-Powaga,Agata Jakubowska / Language(s): English Issue: 3/2016

One of the important forms of cooperation is a cooperative. It is defi ned in the literature as undertaking activities aiming at achievement of a common goal of all the parties to such a transaction. Cooperatives should be based on trust, loyalty and acceptance of informal and formal rules of conduct by all parties to the transaction. On the basis of such background the main research purpose of the paper is to identify the issue of cooperation, cooperatives and trust on theoretical level. Research method of secondary sources survey was used to achieve the assumed goal. Th e paper includes two parts: the fi rst, the theoretical one, presents major assumptions of cooperation, and the second, empirical, based on secondary sources, presents selected aspects of activity of cooperatives in Europe. Th e paper presents at the end of the second part some results and conclusion.

Quality Management of Catering Services

Author(s): Saša Stepanov,Nemanja Stepanov,Nataša Vukotić / Language(s): English Issue: 1/2017

Today’s quality, in terms of high competition and an increasingly growing demands of consumers one of the key factors for the survival of business systems on the market. From the point of customer service quality in the tourism industry, and its expectations are growing every day and more. By providing continuous and complete quality of service, set the preconditions for achieving customer satisfaction and in this sense by providing the desired quality for them and their satisfaction achieved a number of competitive advantages. The system TQM - Total Quality Management (TQM) is a philosophy that the tourism developed countries finds its application and includes a number of activities to be undertaken in quality assurance. The long-term source of revenue for the company are satisfied customers, both positive propaganda which they perform, thus affecting the new, potential guests, as well as restoring and repeated visits.

Zmiana paradygmatu zarządzania w ekoempatycznej koncepcji menedżeryzmu

Author(s): Bronisław Bombała / Language(s): Polish Issue: 2/2009

The negative tendencies in contemporary society and organisations occur as a result of technocratic culture (technopoly). To improve this situation, it is necessary to change the technocratic decision-making paradigm to an ecoempathetic one. The paper presents the ecoempathetic concept ofmanagement operations as a philosophy leading to sustainable development and harmony in organisations.

Modern Approaches to Risk Management and Their Use in Customs

Author(s): Vita Afanasieva,Leonid Ivanov,Dmytro Yanushkevych / Language(s): English Issue: 04/2017

In the article the analysis of experience and best practices of Europe and the world regarding the methods and tools of risk management in customs affairs. In accordance with the requirements of the Kyoto Convention the risk management is the main basic principle of modern customs control methods, which allows optimal use of resources of customs bodies, without reducing the effectiveness of customs controls, and exempt the majority of foreign trade operators from unnecessary bureaucratic control. Procedures based on risk management, concentrate customs control on areas, where there is the greatest risk, allowing the bulk of goods and individuals relatively free to pass the checkpoint at the customs border Special attention is paid to the principles and methods of risk management and their impact on the simplification of customs procedures through the use of risk-based thinking. The paper discusses the problems concerning the application and implementation of modern risk management techniques in customs procedures subject to the requirements of international standards ISO for the quality management system and risk management based on risk-based thinking.

Measurement the efficiency of building project management

Author(s): Fathi Elharare Ali Elhaniash,Svetlana Stevović / Language(s): English Issue: 4/2016

Construction industry has complexity in its nature because it contains large number of parties as clients, contractors, consultants, stakeholders, shareholders, regulators and others. Construction projects in Libya suffer from many problems and complex issues in performance such as cost, time and safety. The aim of this work is to identify and evaluate the main factors affecting the performance of construction projects in Libya. Literature review about performance was reviewed to identify the factors affecting the Performance of construction projects. In addition, other local factors have been added as recommended by local experts. Pilot study of the questionnaire was achieved by a scouting sample, which consisted of 30 questionnaires. A questionnaire survey was conducted and 63 factors were identified, categorized into 10 groups, evaluated and ranked from owners, consultants and constructors perspectives. 120 questionnaires were distributed as follows: 25 to owners, 35 to consultants and 60 to contractors. 88 questionnaires were received (73%) as follows: 17 (70%) from owners, 25 (72%) from consultants and 46 (77%) from contractors as respondents. The most important factors agreed by the owners, consultants and contractors were: average delay because of closures and materials shortage; availability of resources as planned through project duration; leadership skills for project manager; escalation of material prices; availability of personals with high experience and qualification; and quality of equipment and raw materials in project.

Optimizing the Maritime Shipping Management

Author(s): Radan Miryanov / Language(s): English Issue: 1/2016

In the present paper different methods and strategies for optimizing the maritime shipping management are revealed. The beginning of the article is dedicated to some opportunities for constructing the mathe-matical model of the problem. Then an approach to determining its so-lution is presented, observing all the positive points concerning its level of difficulty with different aspects of dynamic optimizing and duality included.

Measuring the Impact of the Quality Management Systems on the Costs of Non-Compliance

Author(s): Donica Stoyanova / Language(s): English Issue: 1/2016

Determining the impact of the implemented quality management system on the costs of non-compliance is significant for every organization which has adopted the Bulgarian Institute for Standardization БДС EN ISO 9001:2008 in order to enhance its efficiency. The main objective of the present paper is to provide an algorithm by means of which the organization can make estimates concerning the contribution of the present system for cutting these costs. A set of indicators is proposed for monitoring the means spent for non-conformance needs incurred in the years before and after the QMS implementation, as well as a scheme for determining the real savings the company has achieved by reducing the considered costs using the system tools.

Оптимизиране управлението на превози в морския транспорт

Author(s): Radan Miryanov / Language(s): Bulgarian Issue: 1/2016

In the present paper different methods and strategies for optimizing the maritime shipping management are revealed. The beginning of the article is dedicated to some opportunities for constructing the mathe-matical model of the problem. Then an approach to determining its so-lution is presented, observing all the positive points concerning its level of difficulty with different aspects of dynamic optimizing and duality included.

Измерване на въздействието на системите за управление на качеството върху разходите за несъответствия

Author(s): Donica Stoyanova / Language(s): Bulgarian Issue: 1/2016

Establishing the impact of implemented quality management system on non-conformity costs is important for the organizations, accepted the principles of ISO 9001:2008 in order to increase their effectiveness. The aim of the paper is to present an algorithm by means of which the enterprises to be able to calculate the contribution of the functioning QMS for reducing these costs. It suggests a set of indicators for observation of the non-conformity costs years before and after implementation of the QMS and a scheme for calculation the real economy the organization has realized, reducing these costs by the tools of the system.

Changes management as the presumption for business continuity

Author(s): Asta Valackienė,Daiva Žostautienė / Language(s): English Issue: 05/2013

Applying systemic analysis of academic literature the paper discusses not widely spread social phenomenon – the impact of change management on business continuity process. The methodological approach was based on the conceptualization of changes management seeking to highlight his role on the business continuity. Its signification in today‘s economical conditions. Business continuity management is presented as one of most significant aims of modern organization that allows not only to stay in the market, but also to gain competitive advantage. Today’s economy and increasing competition influence organization‘s need to improve and pay more attention to changes that can interrupt critical business processes. Even the smallest disturbance can cause serious damage to organization and its image. The continuity of critical processes became one of the main strategic goals to every organization. Business continuity is closely associated with changes, so organization improves and that gives competitive advantage, prestige, the confidence of stakeholders. The principles of business continuity allow minimizing financial loss and gives opportunity to restore critical processes in short time period. The possibility to not only to adapt in the situations of drastic, fast changes, but also to use changes in the benefit of organization ensures long-term improvement. Business continuity management, as one of strategic goal, needs some resources. Organizations should dedicate some of material, human and time resources to ensure main organizational processes. The author of this paper is trying to represent the phenomena and signification of ability to proceed strategic activity without any disturbance. The principles of business continuity management are highlighted not only in the theoretical, but also in the practical perspective. In this paper was conceptualized and extended terms as: „Change“ and „Change management“, „Business continuity management“ and defined the guidelines of business continuity plan.