19 Articles Published

1. NAïVE AND RATIONAL INVESTMENTS? THE EFFICIENCY OF EQUAL WEIGHTED INDICES

Authors: GUIDO ABATE

Abstract: This study is aimed at finding an empirical evaluation of the rationality of naïve diversification when applied to indexed investments, linked to the most representative benchmarks of the US and EMU stock markets. An investor, in the MPT and CAPM frameworks, is assumed to be rational when he/she chooses the most efficient portfolio. The empirical study employs four measures of efficiency: the Gibbons, Ross and Shanken test; the Wald test, implemented through a bootstrap simulation; the Generalized Method of Moments test, implemented through a block bootstrap simulation; and Kandel and Stambaugh’s relative efficiency measure. Results provide strong evidence of the superior efficiency of equal weighting if compared to float- and capitalization- weighting. As a consequence, these findings suggest that naïve diversification can be regarded as rational behavior for indexed investors.

Keywords: —naïve diversification; 1/N heuristic; diversification heuristic; portfolio efficiency; indexed investing; equal weighting

Pages: 4 - 14 | DOI: 10.15224/978-1-63248-067-5-63

2. ALMOST IDEAL DEMAND SYSTEM FOR RED MEAT IN EGYPT BY USING AIDS MODEL

Authors: MAMDOUH ELBADRY MOHAMED , NOURAN ABD EL HAMID IBRAHIM ABD EL GAWWAD , SAMIR BASILIOUS NAKHLA GHOBRAIL

Abstract: The problem of providing food from animal protein is great importance when the authors of productivity policy since it is one of the main and essential food ingredients for human nutrition and maintain his health, are obtained animal protein sources of red meat , white meat , fish, and is linked to the demand by increasing population, increasing per capita income and the level of health and nutrition of the population awareness and then increase the average per capita, with an average per capita red meat, fish and poultry in Egypt during the period (1990-2013) approximately 13.76, 13.15, 10.47 kg / year, while the annual growth rate of about 1.2%, 4.4%, 2.33%, respectively.Results estimate the demand for red meat demand AIDS using the optimal model in the Arab Republic of Egypt during the period has shown (1990-2013): 1. High percentage of the Egyptian consumer spending on red meat, fish and poultry. Which amounted to about 58.8%, 24.2% 0.17%, respectively, which means the consumer pre

Keywords: Almost Ideal Demand System (AIDS), Seemingly Unrelated Regression (SUR), Three Stage Least Square (3SLS), Generalized Method of Moments (GMM). Own Price Elasticity, Expenditure Elasticity, Cross Price Elasticit

Pages: 15 - 20 | DOI: 10.15224/978-1-63248-067-5-64

3. TOWARDS ABOLISHING IMPOSING COMPREHENSIVE SANCTION: SANCTION DAMAGED IRAQI SOCIETY AND FOOD RATION SYSTEM SAVED IT FROM FAMINE

Authors: MOHAMMED MAHDI SALEH

Abstract: The imposing of sanction regime on Iraq by the Security Council was unique in the history of the United Nation. All sanction resolutions adopted by the Security Council since the establishment of United Nation Organization, had exempted food, medicine and humanitarian commodities from sanction regime except in Iraqi case where total blockade was imposed. All commodities including food and medicine were prevented from entering into Iraqi territories. Consequently, all exported commodities which are basically oil and oil product, and which generates 95% of total foreign currency were prohibited. Around $150 billion of the oil revenue meant for the Iraqi people were deprived during the sanction. Thus, international trade was affected by this value. Food Ration System which was adopted science the beginning of imposing sanction in 6th of August 1990 proved successful in saving Iraqi people from famine. High death rate and malnutrition prevailed during thirteen years of sever sanction due t

Keywords: imposing, Sanction, Iraqi society, food ration, famine

Pages: 28 - 30 | DOI: 10.15224/978-1-63248-067-5-66

4. KNOWLEDGE MANAGEMENT OF STUDENTS‟ USAGE OF ONLINE NETWORKS: A MEASUREMENT SCALE

Authors: RACHEL BARKER

Abstract: Through a systematic review of existing theories and models, various constructs and elements were identified and used to develop a conceptual framework which was quantitatively tested on a convenience sample of students (n=300) at Sunway University in Malaysia. Based on the results, a measurement scale was developed and analysed through structural equation modelling and confirmatory factor analysis. The results of the study emphasized the importance to proactively manage knowledge creation and sharing in online networks to enhance the learning experience and identity formation of students.

Keywords: identify formation, learning experience, knowledge management

Pages: 31 - 37 | DOI: 10.15224/978-1-63248-067-5-67

5. THE MEASUREMENT OF SOCIAL PERFORMANCE IN THIRD SECTOR ORGANIZATIONS

Authors: A. MASET-LLAUDES , I. FUERTES , J. D. CABEDO , J.M. TIRADO

Abstract: Nonprofit organizations have developed a great deal of methods for measuring the social impact of their programs. In this paper we show an overview of them, underlying their advantages and drawbacks, to identify which ones are suitable for social performance information disclosure. In addition, we do a proposal on the scope of this disclosure.

Keywords: social impact, social performance measurement, information disclosure

Pages: 38 - 42 | DOI: 10.15224/978-1-63248-067-5-68

6. A STUDY ON THE KOREAN EDUCATIONAL POLICY ON THE MERGER OF SMALL SCHOOLS IN RURAL AREAS -FOCUSING ON THE EDUCATIONAL OUTCOMES AND THE SOCIAL EFFECTS OF BOARDING MIDDLE SCHOOL-

Authors: LEE , HWA-RYONG

Abstract: The purpose of this study is to propose a framework to analyze the educational effects and outcome of the boarding middle school established following the merger and abolition of small schools in rural area. According to the decrease in birth rate and reduction of population in rural area, the schools have brought about many problems for decrease of number of student, and environment of education have become deteriorated. By extension, this situation has given rise to the impoverishment of community as well as the abolition of small schools in rural area. Merger and abolition of schools in Korean rural area are inevitable for change of placement standard to school and qualitative improvement of environment of education. This study suggests 1) educational effects and outcome, 2) changes and benefits of student’s living conditions, 3) social effects to local community, and 4) economic efficiency analysis as a new framework to evaluate the validity of establishing a school. It sets up a h

Keywords: ffect analysis of school establishment, merger of small schools in rural area, boarding middle school, educational effects and outcome, social effects to local community, economical efficiency analysis)

Pages: 43 - 46 | DOI: 10.15224/978-1-63248-067-5-69

7. THE VALUE AND IDENTITY OF BUSINESS TOWARDS A LOGICAL FRAMEWORK OF BUSINESS VALUE

Authors: CHRISTOPHER S. GIFFORD

Abstract: This article is an exercise in the transposition of certain approaches in analytic philosophy to issues concerning business value and identity in business. We examine the notion of business value and several accounts of value that have been offered in the literature. Luciano Floridi’s formal logical account of a business is introduced and applied as a first step towards a logical framework of business value. Peter Peverelli has claimed that Chinese business identity is accounted for in terms of competitors, administration levels, hierarchical structures, and those government agencies with jurisdiction over enterprises (viz. regulators). It is argued that this quadripartite method of identification cannot be fully generalized to all businesses in any geographical location since distinct businesses can exist which have the same competitors, administration levels, hierarchical structures, and governed by the same government agencies. In such a case the distinguishing features of the busin

Keywords: business value, business identity, logical modelling, digital busienss value, virtual business value

Pages: 47 - 51 | DOI: 10.15224/978-1-63248-067-5-70

8. ECONOMIC IMPACT OF THE TELECOMMUNICATION INDUSTRY ON BANGLADESH

Authors: ZAHEED HUSEIN MOHAMMAD AL-DIN

Abstract: The revolution of cellular telecommunication in Bangladesh started when the first call was made in 1989. This sector has a massive effect on the economy of the country. The GDP of the country has grown from less than 30 Billion US Dollars to 130 Billion US Dollars during 1989-2015 which is almost 4 times. Before the first mobile operator set foot on Bangladesh, people were heavily dependent on the BTTB Phones which are very popularly known as T&T Phone Lines. Although Bangladesh has one of the highest call rates in the world, the mobile penetration is at the very high end. The six operators together serve a customer base of 120 million as of December 2014. When one looks at the overall contribution of these operators towards the economy of the country then one would unquestionably be in agreement with the contribution that these companies and their employees have towards the economy.

Keywords: — telecommunication, mobile phone, employees

Pages: 52 - 55 | DOI: 10.15224/978-1-63248-067-5-71

9. THE QUANTITATIVE EVALUATION METHOD OF TECHNOLOGY MANAGEMENT IN MEDIUM-SIZED MANUFACTURING COMPANIES

Authors: HIDEKI KAWAMURA , HIROKI NAKAMURA , KOKI SHIOHATA

Abstract: As management resources of the company, generally “people”, “goods”, “money (capital)” has been called that three elements of the management. Further “information” as a fourth element has been added recently. In this paper, furthermore, for the medium-sized manufacturing company that manufactures and sells the product with long life as mechanical elements, “outward activities” are proposed as the fifth element. The importance of these five management elements is different by market needs and corporate scale and strategy. So, the key method to evaluate importance of the management of technology is discussed systematically for mid-sized manufacturing company’s management on the basis of these management elements. In the management of technology system are classified into three layers, and the evaluation factors based on the management elements in each layer are composed by a tree structure. In this case study, it's also done clearly about how various innovations is classified by manageme

Keywords: management of technology, outward activities, five management elements

Pages: 50 - 60 | DOI: 10.15224/978-1-63248-067-5-72

10. ECONOMIC FREEDOM AND FOREIGN DIRECT INVESTMENT IN BRICS COUNTRIES

Authors: LI LI

Abstract: This paper studies the impact of economic freedom on foreign direct investment in BRICS countries, namely Brazil, Russia, India, China, and South Africa over the period of 2008-2013. The foreign direct investment (FDI) is measured by net inflows of FDI as a percentage of gross domestic product. The economic freedom is measured by the index of economic freedom published by The Wall Street Journal and The Heritage Foundation, which includes ten components such as business freedom, trade freedom, fiscal freedom, government spending, monetary freedom, investment freedom, financial freedom, property rights, freedom from corruption, and labor freedom. The regression results show that the economic freedom, investment freedom, financial freedom, and property rights are negatively associated to the FDI, whereas business freedom, monetary freedom, and labor freedom are positively related to FDI. The coefficients of trade freedom, fiscal freedom, government spending, and freedom from corruption a

Keywords: Foreign direct investment, Economic freedom, BRICS, Gross domestic product, investmetn freedom

Pages: 61 - 64 | DOI: 10.15224/978-1-63248-067-5-73

11. COMPARISON FOR THE EFFECTS OF CHINESE AND WESTERN TOURISTS’ PERCEIVED IMAGES OF FOOD TOURISM FACILITIES ON DESTINATION SELECTION: CASE OF THAILAND’S FOOD TOURISM

Authors: ROJANASAK CHOMVILAILUK , THANATHORN VAJIRAKACHORN

Abstract: his research aims to examine a research problem of which how tourist’s perceived image of Thai street food and/or street-food shop affect foreign tourist’s destination selection. In particular, the tourist’s perceptions are relevant to cleanness, safety, physical characteristics, and social circumstances, cultural identify manner, touristy, and value of money. Quantitative research method was conducted by collecting questionnaires from Chinese and Western tourists at the tourism attraction locations, especially for walking street in the tourism places. Eighty nine Chinese and one hundred and twenty one Western tourists participated in this research. The research results statistically support theoretical aspects and previous research in terms of four perceived factors; cleanness, physical characteristics, social circumstances, and touristy, affecting the tourist’s destination selection. However, the hypothesis tests compared between the Chinese and Western tourist groups are different.

Keywords: tourism, gastronomic tourism, food tourism, street food, perceived image, destination selection, Thailand

Pages: 65 - 68 | DOI: 10.15224/978-1-63248-067-5-74

12. THE MYTH BEHIND CIVIL SERVICE AS THE MOST POPULAR CAREER IN CHINA

Authors: FRANCIS Y.K. LEUNG , LINA VYAS

Abstract: The China civil service system is always a myth to the outside world. However, the civil service has been becoming more and more popular as a career in China. In the 2013 central level civil servants employing written examination conducted in China, there were a total 1.52 million participants, with a 7192:1 ration for the most popular post. This study aims at analyzing the reasons why the civil service has been becoming a popular career for graduates in China recently. The researchers used a comparative approach to evaluate the civil service reform in China in the past few decades. A questionnaire survey was used to collect data for statistical analysis on what makes the civil service a popular career in China. The research started with a discussion on the history of the civil services in China as the background of the study. The main theme of the research was on a broad questionnaire survey of 521 Chinese civil servants randomly selected by the interviewers in different provinces in

Keywords: civil service, meritocracy, secrecy, nepotism, autonomy, social esteem, creativity, personal accomplishments, corruption, remuneration.

Pages: 69 - 69 | DOI: 10.15224/978-1-63248-067-5-75

13. ATTITUDE TO THE INTRODUCTION OF ICT IN SCHOOLS WHAT THE TEACHERS SAY AND WHAT THEY REALLY MEAN

Authors: DIAMANTINI D. , FERRARI M , MURA G

Abstract: By analysing a field research carried out between 2014 and 2015, this paper examines the situation of ICT use in primary and secondary schools in the Municipality of Cinisello Balsamo located just north of Milan. The primary aim was to look at the relationship between technology and learning, in particular between teachers’ willingness to learn and then concretely adopt the use of technological devices in the classroom; their degree of sensitivity towards ICT and the relative employment of it as an “end-tool” for knowledge acquisition. We have also looked at the amount of time that teachers are genuinely willing to dedicate to training or self-learning amidst the myriad of training opportunities they are offered. Lastly we considered whether there was a reprocessing of experiences and personal habits, bearing in mind the extensive presence of ICT tools in everyday life

Keywords: Lifelong Learning, ICT, Education, Teaching Training

Pages: 70 - 74 | DOI: 10.15224/978-1-63248-067-5-79

14. E - BANKING IN SUDANESE BANKING SECTOR: BETWEEN NEW OPPORTUNITIES AND CHALLENGES

Authors: DINA AHMED MOHAMED GHANDOUR

Abstract: Development of information technology in the last few years, have brought about a lot of changes in almost all facets of life. In the banking industry, it has been in the form of banking services offered through an electronic channel. Electronic banking is the wave of the future, it has a lot of benefits which add value to customers’ satisfaction in terms of better quality of service offerings and at the same time banks can gain more competitive advantage over other competitors. Despite this there are a lot of challenges that may hinder the success of e-banking services and thus constitute major concern to both financial institutions and customers. The purpose of this paper is to investigate and focus on the different opportunities and services of e-banking in Sudanese banking sector, and the challenges associated with it. Regardless, the different e-banking services found in Sudan but still there are a lot of challenges associated with its successful implementation. This paper followe

Keywords: E-banking, Sudanese banking sector, Opportunities and challenges, e-banking services.

Pages: 75 - 80 | DOI: 10.15224/978-1-63248-067-5-80

15. IT GOVERNANCE IN HIGHER EDUCATION SECTORS – TEACHING SERVICES

Authors: KORHAN LEVENT ERTURK , MOHAMMAD REHAN

Abstract: Globally, the teaching services in higher education is under pressure to change and make it more interactive. The governance of higher education sectors has become an important issue from last decade. Now growth & rapid implementation of Information Technology (IT) is become important part of governance in Higher education sector and become an important issue, how to use IT governance in Teaching services in the university. IT has become critical in all aspects of universities education system (i.e. teaching, research activities and administration). IT is a tactical component that provides support to all major activities in university, and in the future is set to become an important strategic tool in higher education institutions. This work is analyzing how IT governance can be use or implement in following Teaching Services: (1) Benefits of using ICT in Higher Education, (2) Support studentcentered and self-directed learning, (3) Produce a creative learning environment, (4) Support te

Keywords: IT-Governance, Higher Educational, IT Management.

Pages: 81 - 84 | DOI: 10.15224/978-1-63248-067-5-81

16. AN ECONOMIC STUDY OF THE MARKETING EFFICIENCY FOR THE MOST IMPORTANT CROPS AND AGRICULTURAL COMMODITIES IN EGYPT

Authors: MAMDOUH ELBADRY MOHAMED

Abstract: This study aims to: estimate the marketing efficiency of the most important crops and agricultural commodities in Egypt represented in (wheat, maize, rice, lentils, faba bean, peanuts, tomatoes, onions, potatoes, zucchini, peas, garlic, cucumber, oranges, bananas, grapes, mangoes, dates, red meat, poultry, fish, oils) during the period (1998-2013) using the functions specified methodology of Farrell Approach, or Data Envelopment Analysis (DEA) , according to the concepts of Constant Returns To Scale (CRS) ,Variable Returns To Scale (VRS) for estimating both the Technical Efficiency (TE), and Scale Efficiency (SE). It also aims to study the distribution of marketing margins and scale of marketing of the product, wholesaler and retailer of pounds consumer to know the factors that lead to the lifting of the marketing efficiency to achieve the objectives of both the producer and consumer. It was found from the results of a study marketing efficiency by using Data Envelopment Analysis (DEA)

Keywords: Economic Study , marketing, Efficiency , Important Crops, Agricultural

Pages: 85 - 91 | DOI: 10.15224/978-1-63248-067-5-103

17. EVALUATING THE EFFECT OF GOVERNMENT POLICIES ON SMALL AND MEDIUM ENTERPRISE (SME) DEVELOPMENT: CASES FROM NINE DIFFERENT COUNTRIES

Authors: HADIA FAKHRELDIN

Abstract: The study examines the different policies implemented in countries to achieve SME development. The literature suggests that macro policies are more effective than micro policies in achieving this target. Nine different cases of countries are investigated to identify which policies are more effective and why. The analysis of information obtained from secondary data, archives, reports and interviews confirm that the macro policies are more effective in the case of developing countries, whereas micro policies are more successful in developed countries.

Keywords: —SMEs, Government, Policies, Development, Cases

Pages: 92 - 102 | DOI: 10.15224/978-1-63248-067-5-108

18. INTERNAL FINANCIAL CONTROLS IN GHANA HEALTH SERVICES (A CASE STUDY OF BECHEM GOVERNMENT HOSPITAL)

Authors: SAMUEL OPPONG BOAMPONG

Abstract: Public corporations have shareholders demanding accountability. However, public hospitals are mostly funded by government with taxpayers’ money and other donors. These fund providers are usually not active, thus making the demand for accountability low. In recent times however, questions are being raised about the management of funds allocated to these hospitals. This has drawn attention to the internal controls established by these hospitals and effectiveness of their implementation. This study sought to assess the financial controls established by Ghana Health Service and to examine the extent of compliance of Bechem Government Hospital to these controls. Data were collected using questionnaire, interviews and by observation. The study identified that, the Ghana Health Service relies on the Accounting, Treasury and Financial Reporting Rules and Instructions (ATF) developed by the Ministry of Health to regulate financial activities and financial reporting in hospitals and other health

Keywords: INTERNAL, FINANCIAL, CONTROL, HEALTH SERVICES

Pages: 103 - 107 | DOI: 10.15224/978-1-63248-067-5-119

19. THE ANALYSIS OF CHANGES IN URBAN HIERARCHY OF ISFAHAN PROVINCE IN THE FIFTY-YEAR PERIOD (1956-2006)

Authors: HAMIDREZA JOUDAKI

Abstract: The appearance of city and urbanism is one of the important processes which have affected social communities .Being industrialized urbanism developed along with each other in the history.In addition, they have had simple relationship for more than six thousand years, that is , from the appearance of the first cities . In 18th century by coming out of industrial capitalism, progressive development took place in urbanism in the world. In Iran, the city of each region made its decision by itself and the capital of region (downtown) was the only central part and also the regional city without any hierarchy, controlled its realm. However, this method of ruling during these three decays, because of changing in political, social and economical issues that have caused changes in rural and urban relationship. Moreover, it has changed the variety of performance of cites and systematic urban network in Iran. Today, urban system has very vast imbalanced apace and performance. In Isfahan, the trend

Keywords: urban network, urban hierarchy, primate city. Isfahan province

Pages: 108 - 115 | DOI: 10.15224/978-1-63248-067-5-121