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Cordelia, Antonio. „Transaction Costs and Information Systems: Does IT Add Up?“ Journal of Information Technology 21, Nr. 3 (September 2006): 195–202. http://dx.doi.org/10.1057/palgrave.jit.2000066.
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Transaction cost theory has often been used to support the use of information and communication technology (ICT) to reduce imperfection in the economic system. Electronic markets and hierarchies have repeatedly been described as solutions to inefficiencies in the organisation of transactions in complex and uncertain settings. Far from criticising this assumption, this paper highlights the limits associated with this application of transaction cost theory that has been prevalent in IS research. Building on the concepts first proposed by Ciborra, the paper argues that information-related problems represent only some of the elements contributing to transaction costs. These costs also emerge due to the interdependencies among the various factors contributing to their growth. The study of the consequences associated with ICT design and implementation, grounded in transaction cost theory, should consider the overall implication associated with the adoption and use of ICT and not only the direct effect on problems associated with information flow, distribution, and management.
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Yang, Zhi Xue. „Research on Trade Model of Transaction Costs Based on Ecommerce“. Applied Mechanics and Materials 26-28 (Juni 2010): 218–21. http://dx.doi.org/10.4028/www.scientific.net/amm.26-28.218.
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Transaction cost is one of these costs, but mostly mentioned with trade barriers. The trade barrier, also called tariff barracks or non- tariff barracks, focus on the problems that affect transactions in international trade. Transaction cost in economics can be defined as a cost incurred in making an economic exchange. There are a number of kinds of transaction cost have been researched by economists, “search and information costs” (such as those incurred in determining that the required good is available on the market, who has the lowest price.), “Bargaining costs” (the costs required to come to an acceptable agreement with the other party to the transaction, drawing up an appropriate contract and so on.), “Policing and enforcement costs” (the costs of making sure the other party sticks to the terms of the contract, and taking appropriate action if this turns out not to be the case.). Along with the fast development of e-commerce, a new kind of trade barriers, which is called e-commerce barrier, based on information technology appears quietly, in recent years. Though the emergence of this barracks does not been focused by world, it has profoundly affected international trade already.
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Podshivalova, Mariya, und Dmitriy Podshivalov. „Estimate of Some Transaction Costs for Small Industrial Enterprises“. Moscow University Economics Bulletin 2017, Nr. 5 (30.10.2017): 40–60. http://dx.doi.org/10.38050/01300105201753.
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The article attempts to evaluate certain types of transaction costs for small businesses. In particular, it considers the costs of access to the law, tax burden, administrative burden, costs of illegality, specification and property rights protection, the costs of information search, costs of opportunistic behavior of employees. The author evaluates the impact of forthcoming institutional changes on transaction costs for small industrial enterprises in the context of such key "chronic problems" for this type of enterprises as low output demand, lack of investment, administrative barriers, underdeveloped transport and energy infrastructure. The article concludes that alongside positive changes, certain chronic problems and associated transaction costs remain outside the reform wave. It refers to such types of transaction costs as the costs of interaction (ex ante): cooperation with large enterprises, new markets entry and new products development (information retrieval related to the study of markets and potential consumers), patent search, excessive burden of small industrial enterprises applying standard tax system, the costs of finding investors, the costs to meet creditors requirements.
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Liudvenko, Dmytro. „MAIN PROBLEMS OF DETECTION OF TRANSACTION COSTS IN ACCOUNTING-INFORMATION PROVIDED MANAGEMENT OF AGRICULTURAL ENTERPRISES AGRICULTURAL ENTERPRISES IN THE LIVESTOCK INDUSTRY“. Economic Analysis, Nr. 30(1, Part 1) (2020): 126–32. http://dx.doi.org/10.35774/econa2020.01.01.126.
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Introduction. The article describes the market and globalization exacerbate the problem of competitiveness of products, enterprises, states. The role of accounting-formation support is increasing for the management, socioeconomic and environmental basis of the competitiveness of enterprises in the livestock sector. Accounting in the agrarian sector has unquestionable success. It is demonstrated clearly by the identification of transaction and transaction costs in the livestock industry today. The importance of accounting are achievements in the agricultural sector. The accountants' attention and therefore at all levels of management are not isolated in accounting standards for these costs in the economic activity of an agricultural enterprise. Purpose. The task is to substantiate: The need to isolate the composition of transaction costs in accounting accounts. We must to ensure competitiveness in the new economic environment. It is requires accounting and information management of agricultural enterprises engaged in the livestock industry. Results. Scientists are suggest: transaction costs depend on the institutional environment in which the agrarian business operates. It makes impossible to directly influence such costs. The problem of competitiveness transaction costs are of great importance.We must require greater control at all levels of management. It is requires appropriate response of accounting specialization in accountingThe information management of agricultural enterprises engaged in the livestock industry. It should be emphasized: Transaction costs have become particularly important in the socio-economic environment over the last century. This component operates outside the scope of transformational costs. This component has a significant impact on the convenience of doing business in agriculture. The presence of these costs derive from the availability and clarity of accounting. The information management of agricultural enterprises engaged in the livestock sector . This is determine the competitiveness of economies.
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OLSDER, GEERT JAN. „DIFFERENTIAL GAME-THEORETIC THOUGHTS ON OPTION PRICING AND TRANSACTION COSTS“. International Game Theory Review 02, Nr. 02n03 (Juni 2000): 209–28. http://dx.doi.org/10.1142/s0219198900000135.
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This paper investigates some differential game applications to option pricing mechanisms and related problems. Two players, an investor and "Nature", play a zero-sum game. The usual uncertainty modelling (log-normality for instance) in systems describing the price evolution of stocks is replaced by "Nature", a player who counteracts the investor as much as possible. A relationship between a restricted version of the Black-Scholes and the Hamilton-Jacobi-Bellman partial differential equations is given. This paper, is a first step to possibly solve various option pricing problems (with constraints and/or transactions costs for instance) by means of the available numerical software for optimal control problems. In the second part of the paper, another model, now with three players, is considered. The third player is the bank interested in maximising its own profits by choosing the right formula for transaction costs. Thus a three-person nonzero-sum game, with a special kind of Stackelberg information structure, results. Some simple examples hint in the direction that the bank will be a clear winner.
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Kalyuzhnova, Nadezhda. „Transformation of the real estate market on the basis of use of the blockchain technologies: opportunities and problems“. MATEC Web of Conferences 212 (2018): 06004. http://dx.doi.org/10.1051/matecconf/201821206004.
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The real estate market is influenced by the global growth trends, such as the growth of the transaction costs and new technologies of the fourth industrial revolution. The types of the transaction costs of the real estate market are analyzed in the paper. The characteristics of the blockchain as a new information technology that allows reducing transaction costs are considered. The essence of the blockchain as a value-communication technology that allows transferring not only information, but also value using mobile networks and the Internet, is substantiated. The types and classification of the blockchains are considered. The directions of real estate transformation on the basis of introduction of the blockchain technologies are shown. Some unresolved issues, as well as the dangers and challenges of the development of the blockchain technologies, are indicated in this article.
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Thomson, Robert, und René Torenvlied. „Information, Commitment and Consensus: A Comparison of Three Perspectives on Delegation in the European Union“. British Journal of Political Science 41, Nr. 1 (03.09.2010): 139–59. http://dx.doi.org/10.1017/s0007123410000268.
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Three perspectives on delegation in the European Union are presented in this article. The transaction-costs perspective focuses on information asymmetries between policy makers and implementers. According to the commitment perspective, policy makers delegate authority as a solution to commitment problems. The consensus-building perspective views the decision to delegate as a trade-off between decisiveness and inclusiveness during the bargaining process. Hypotheses are derived from these perspectives regarding the amount of delegation to both the European Commission and to member states in legislation. From detailed information on eighty-six EU laws, there is some evidence for the transaction-costs perspective as an explanation of delegation to the Commission. With respect to delegation to member states, there is some evidence for both the transaction-costs perspective and the consensus-building perspective.
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Kondratenko, Natalia. „The researching of information inequality in the market of information services“. Technology audit and production reserves 1, Nr. 4(57) (20.01.2021): 45–48. http://dx.doi.org/10.15587/2706-5448.2021.225533.
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The object of research is information inequality. Information inequality is seen as a socio-economic problem that can be solved with the help of confident actions of the state. Data analysis confirmed the problem of the «digital divide» at the global and regional levels. The transformation of the information services market depends on the quality of the Internet. The growing number of Internet users is a global tendency, but at the regional level it is possible to see clear differences, which creates problems for obtaining quality educational, financial and professional services. Both negative and positive consequences of information inequality are considered. Along with the growing importance of modern information technologies and services in society, inequality between certain segments of the population is growing. Some people for various reasons may have restrictions on access to information, knowledge, information services, new digital products and modern technologies, while others may not have similar restrictions on access to them. The study found that the market for information services is specific in terms of protection of intellectual property rights. Aspects that would contribute to strengthening the protection of intellectual property rights to information services and products, information security are provided. Negative transactional externalities occur in the market of information services precisely when there is a decrease in information security due to violation of intellectual property rights by one person in relation to another, causing the last damage. To reduce the burden of transaction costs on market participants in information services, the directions of reducing transaction costs at the national level are substantiated. In all countries of the world, the COVID-19 pandemic has exacerbated the issue of information inequality. The study presents the principles for overcoming digital inequality.
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Sriram, M. S. „Information Asymmetry and Trust: A Framework for Studying Microfinance in India“. Vikalpa: The Journal for Decision Makers 30, Nr. 4 (Oktober 2005): 77–86. http://dx.doi.org/10.1177/0256090920050407.
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In recent times, microfinance has emerged as a major innovation in the rural financial marketplace. Microfinance largely addresses the issue of access to financial services. In trying to understand the innovation of microfinance and how it has proved to be effective, the author looks at certain design features of microfinance. He first starts by identifying the need for financial service institutions which is basically to bridge the gap between the need for financial services across time, geographies, and risk profiles. In providing services that bridge this gap, formal institutions have limited access to authentic information both in terms of transaction history and expected behaviour and, therefore, resort to seeking excessive information thereby adding to the transaction costs. The innovation in microfinance has been largely to bridge this gap through a series of trustbased surrogates that take the transaction-related risks to the people who have the information — the community through measures of social collateral. In this paper, the author attempts to examine the trajectory of institutional intermediation in the rural areas, particularly with the poor and how it has evolved over a period of time. It identifies a systematic breach of trust as one of the major problems with the institutional interventions in the area of providing financial services to the poor and argues that microfinance uses trust as an effective mechanism to address one of the issues of imperfect information in financial transactions. The paper also distinguishes between the different models of microfinance and identifies which of these models use trust in a positivist frame and as a coercive mechanism. The specific objectives of the paper are to: Superimpose the role of trust in various types of exchanges and see how it impacts the effectiveness of repeated transactions. While greater access to information fosters trust and thus helps social networks to reduce transaction costs, there could be limits to which exchanges could solely depend on networks and trust. Look at the frontiers where mutual trust cannot work as a surrogate for lower appraisal costs. Use an example in the Canadian context and see how an entity that started on the basis of social networks and trust had to morph into using the techniques used by other formal nonneighbourhood institutions as it grew in size and went beyond a threshold. Using the Canadian example, the author argues that as the transactions get sophisticated, it is possible to achieve what informal networks have achieved through the creative use of information technology. While we find that the role of trust both in the positivist and the coercive frame does provide some interesting insights into how exchanges with the poor could be managed, there still could be breaches in the assumptions. This paper identifies the conditions under which the breaches could possibly happen and also speculates on the effect of such breaches.
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Rasheli, Geraldine Arbogast. „Procurement contract management in the local government authorities (LGAs) in Tanzania“. International Journal of Public Sector Management 29, Nr. 6 (08.08.2016): 545–64. http://dx.doi.org/10.1108/ijpsm-10-2015-0173.
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Purpose The purpose of this paper is to examine the transaction costs involved in managing procurement contracts in the public sector, particularly at the lower and higher level of local governments from the clients’ perspective. Design/methodology/approach The paper uses new institutional economics, specifically the transaction cost approach. A multiple case study design was used, in which five local government authorities (LGAs) were selected from the Kigoma and Tanga regions of Tanzania. Interviews with heads of procurement management units, focus groups and secondary sources were used to collect information for lower level LGAs. Findings Very high information, negotiation and monitoring transaction costs were revealed at the post-contractual stage for higher levels of local government in all cases. Transaction costs were associated with institutional problems, lack of financial resources and attitudes towards accountability, transparency and competition. It was also found that lower levels of local government are faced with very high transaction costs for all procurement stages due to a lack of procurement contract management capacity among ward and village procurement project committees, low levels of support from higher level LGAs, a lack of simple Swahili-standardised documents and guidelines for lower level procurement contract management which reflect current legal issues and the lack of a legal framework for procurement at the lower level of local government. These costs are associated with poor accountability and a lack of competition, transparency and efficiency throughout public procurement chains. Research limitations/implications There is no estimate for quantitative approaches, because it is was difficult to measure transaction costs associated with accountability, transparency and efficiency. Originality/value The paper contributes knowledge on qualitative levels of transaction costs for procurement contract management for both higher and lower levels of LGAs from the clients’ viewpoint.
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Zhou, Qi Hai, und Yan Li. „Research on Logistics Distribution Mode for E-Commerce Businesses“. Advanced Materials Research 181-182 (Januar 2011): 3–8. http://dx.doi.org/10.4028/www.scientific.net/amr.181-182.3.
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Electronic commerce is the products of the development of Internet and information technology in the twentieth century. It makes commodity trading changing dramatically, not only to shorten trading hours, transactions faster, but also greatly reduce the transaction costs of commodity transactions. As a rapidly developing e-commerce industry, logistics and distribution system has become an unavoidable bottleneck to E-commerce Businesses. The efficiency level of logistics and distribution system is the key to the success of e-commerce, the currently logistics problems plaguing the e-commerce are: high cost of delivery of goods, high storage costs, imperfect distribution channels. In this paper, discuss how to build a value of the galaxy in which e-commerce businesses as the core member, thereby strengthening and improving contact to commodity suppliers, service providers and customers. Format a harmonious and win-win situation by mutual promotion and common development to solve the logistics problems of the e-commerce business development constraints.
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Pohorelov, Yurii, Hanna Kozachenko und Anastasiia Bilousova. „REPRESENTATION PROBLEMS OF TRANSACTIONAL COSTS IN ENTERPRISE ACCOUNTING“. ЕКОНОМІКА І РЕГІОН Науковий вісник, Nr. 3(64) (07.06.2017): 67–75. http://dx.doi.org/10.26906/eir.2017.3(64).878.
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UDC 658.012
Yurii Pohorelov, D. Sc. (Economics), assistant professor. Hanna Kozachenko, D.Sc. (Economics), professor. Anastasiia Bilousova, PhD (Economics), assistant professor. Poltava National Technical Yurii Kondratiuk University. Representation Problems of Transactional Costs in Enterprise Accounting. There is notion of “transactional costs” considered basing on the positions of epistemological contextualism. There is built in the article classification of transactional costs. There is managerial collision found about fact that not all kinds of transactional costs that are considered in cost management can be shown in accounting according to existing methodology of accounting. Taking into account regulatory framework of accounting there are three approaches suggested about accumulation of information about enterprise transactional costs. The authors analyzed advantages and limitations of suggested approaches about accounting transactional costs.
Keywords: enterprise, costs management, transactional costs, classification, accounting, representation criteria, approach for information accumulation.
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Chen, Po-Yu. „Fresh Snack Food Channel Evaluation Model for Integrating Customers’ Perception of Transaction Costs in Taiwan“. Journal of Food Quality 2017 (2017): 1–11. http://dx.doi.org/10.1155/2017/7264576.
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The primary purpose of this study was to explore how food dealers develop methods that facilitate transaction efficiency and how they select the optimal food channels. This study establishes a model according to the impact of transaction cost factors on consumers’ decision-making regarding purchase of fresh snack foods. Using fresh snack foods in Taiwan as an example, this study employed a fuzzy analytic network process to solve decision-making problems with multiple criteria by comparing the interaction between each transaction cost factor to obtain the factor weightings as well as the weightings of the transaction costs at each decision stage. This study found that food safety assurance and providing sufficient nutrition information were the most essential topics; thus, the optimal choice for snack food producers is to develop retail outlets. This study construction process proposed is innovative and operational, and the results may provide a reference for snack food dealers or microfood enterprises to assist them in developing their food channels.
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Oliveira, Gustavo Magalhães de, Christiano França da Cunha, Silvia Morales De Queiroz Caleman und Roberta Luiza Gomes Maia. „Information asymmetry: the case of cattle supply transaction in Brazil“. British Food Journal 121, Nr. 8 (05.08.2019): 1825–37. http://dx.doi.org/10.1108/bfj-01-2019-0041.
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Purpose The purpose of this paper is to investigate information asymmetry in cattle supply transaction in Brazil. While the literature traditionally explores the seller’s information asymmetry advantages, the authors, in turn, draw attention to buyer’s role. This paper aims to show what farmer characteristics present negative correlation with slaughterhouses’ information asymmetry advantages. By slaughterhouses’ advantages, the authors refer to slaughterhouses’ opportunistic appropriation of value due to hidden information, such as quality measurement and remuneration of difficult-to-measure attributes. In doing so, this paper addresses the following research question: what are the farmer’s characteristics with negative correlation with slaughterhouses’ information asymmetry advantages? Design/methodology/approach This paper employs a logit model regression on a survey of 89 Brazilian cattle breeders. Drawing on transaction cost economics, this study empirically evaluates farmers’ technology level, level of education, family tradition, farm size and efforts to collect price information, to test which of these characteristics present negative correlation with slaughterhouses’ information asymmetry advantages. Findings The results illustrate that the cattle breeders’ level of education is negatively correlated with buyers’ information asymmetry advantages. Additionally, the authors find a controversial result presenting efforts to collect price information as positively correlated with this kind of information asymmetry advantages. Farmer’s farm size, family tradition and the level of technology were not influential. These findings suggest that a possible value appropriation from buyers’ information asymmetry is a problem for several types of producers, even varying size, family tradition in the activity or transaction costs to collect price information (e.g. lack of transparency). Initiatives should try to reduce this problem to these farmers to avoid value appropriation resulting from information asymmetry problems, especially in the lack of transparency. Originality/value This paper adopts a survey about information asymmetry in cattle supply transactions in Brazil, which is well known as one of the most relevant producer and consumer of meat. The main contribution is to shed light on the understanding of buyers’ information asymmetry advantages in farmer-slaughterhouse transactions to avoid potential conflicts. Given some singularities of the Brazilian cattle industry, the authors can empirically test buyers’, not sellers’, information asymmetry advantages.
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Borthick, A. Faye, und Donald R. Jones. „Analyzing a Potential Warranty Call Center Budget Overrun: Using Database Queries to Solve Business Problems“. Journal of Information Systems 19, Nr. 1 (01.03.2005): 97–111. http://dx.doi.org/10.2308/jis.2005.19.1.97.
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In this case, students develop and use database queries to analyze possible causes of a potential budget overrun for telephone warranty service for a company that sells personal computers (PCs). Students query a Microsoft Access® database with tables for sales of PCs, estimates for technician time, employees, technician costs, and service minutes provided. The queries illustrate those that accountants could prepare to analyze transaction-level data to develop insights about business operations. Query-based approaches to analyzing transaction data are likely to become more common as businesses take advantage of the wealth of data available to them for solving business problems and exploiting emerging opportunities. This case is appropriate for students with rudimentary database querying proficiency, e.g., at the level developed by Borthick et al.'s (2001) case on assuring compliance for responses to website referrals.
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Pinto, João, und Paulo Alves. „The economics of securitization: evidence from the European markets“. Investment Management and Financial Innovations 13, Nr. 1 (04.03.2016): 112–26. http://dx.doi.org/10.21511/imfi.13(1).2016.10.
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This paper surveys the literature examining securitization. Besides describing the economic motivation for the use of securitization, the paper provides details on securitization characteristics and players, presents the recent trends of securitization markets, describes the role played by securitization in the 2007-2008 financial crisis, and compares the financial characteristics of securitization transactions for a large cross-section of ABS, MBS and CDO tranches issued during the 2000-2011 period. Securitization creates value by increasing liquidity, reducing the cost of funding, allowing originators to diversify funding sources, improving originators’ risk management, and allowing originators to benefit from regulatory arbitrage and to improve key financial ratios. However, securitization transactions are complex undertakings, they are expensive to set up, and increase the deadweight transaction costs associated with principal-agent and asymmetric information problems when used inappropriately
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Neves, Marcos Fava. „Marketing and Network Contracts (Agreements)“. Journal on Chain and Network Science 3, Nr. 1 (01.06.2003): 7–19. http://dx.doi.org/10.3920/jcns2003.x026.
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The literature shows that bounded rationality makes it almost impossible to build complete contracts to manage transactions between companies. Furthermore, incomplete contracts generate opportunism problems from one of the involved parts and undesirable transaction costs that could be reduced if the process of building a contract/agreement were to include more details (exactness), even in unwritten (oral) agreements. In general, businessmen do not have the instruments to facilitate this process of building contracts, and students, who will deal with contracts at various moments in their professional lives, are not trained for this activity. This article provides a model that has been successfully used as a contract analysis tool in business networks focusing on marketing actions.
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Pourová, M., und M. Pour. „Institutional problems of pig meat sector in the Czech Republic“. Agricultural Economics (Zemědělská ekonomika) 48, No. 1 (29.02.2012): 29–35. http://dx.doi.org/10.17221/5285-agricecon.
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The paper deals with the institutional problems in the pig meat sector in the Czech Republic. The information was obtained in the frame of Project PHARE-ACE P97-8098-R “Institutional Economics in the Agri-Food Business: How can Structural Policy Help to Integrate EU?” The research was performed in year 2000 by means of a questionnaire method and a method of interviews with managers of individual entities in the food chain of pig meat sector. Problems of the execution of property rights in supplier-customer relations in the Czech pig meat sector are the following (institutional view): poor enforceability of property rights, sale for cash, refraining from long-term contracts, decrease of trust between business partners and trust in legal institutions, increase of transaction costs, lack of business ethics etc.
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Brünner, Tobias. „Price formation in call auctions with insider information“. Studies in Economics and Finance 36, Nr. 3 (26.07.2019): 408–26. http://dx.doi.org/10.1108/sef-02-2018-0066.
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Purpose This study aims to investigate – theoretically and empirically – if call auctions incorporate asymmetric information into prices. Design/methodology/approach First, this study introduces a new model of price formation in a call auction with insider information. In this call auction model, insider trading gives rise to an asymmetric information component of transaction costs. Next, this study estimates the model using 20 stocks from Euronext Paris and investigates if the asymmetric information component is present. Findings The theoretical analysis reveals that call auctions incorporate asymmetric information into prices. The empirical analysis finds strong evidence for the asymmetric information component. Testable implications provide further support for the model. Practical implications Call auctions have recently been proposed as an alternative to continuous limit order book markets to overcome problems associated with high-frequency trading. However, it is still an open question whether call auctions efficiently aggregate asymmetric information. The findings of this study imply that call auctions facilitate price discovery and, therefore, are a viable alternative to continuous limit order book markets. Originality/value There is no generally accepted measure of trading costs for call auctions. Therefore, the measure introduced in this study is of great value to anyone who wants to quantify trading costs in call auctions, understand the determinants of trading costs in call auctions or compare trading costs and their components between continuous markets and call auctions. This study also contributes to the literature devoted to estimating the probability of information-based trading.
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Hajiyeva, Leyla. „The prospects and problems of e-commerce in Azerbaijan in the context of globalization“. SHS Web of Conferences 92 (2021): 06010. http://dx.doi.org/10.1051/shsconf/20219206010.
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Research background:With globalization on the Internet, the economy is gaining a wide range of new opportunities. The economic activity carried out using the latest IT - technologies is effective and profitable. E-commerce is one of the main components of the “new economy", which is gaining increasing practical importance. The effectiveness of electronic commerce is determined by the fact that with this form of trading transaction costs are reduced, i.e. the costs associated with the search and processing of information, negotiating and signing contracts, as a result of which the process of buying and selling and concluding transactions is simplified, opportunities for attracting investments are expanded, and geographical accessibility is improved. Online commerce in Azerbaijan is at the development stage and has broad prospects for further growth.Purpose of the article:The main goal of the article is to analyze the possibilities of developing online commerce in Azerbaijan and evaluate the factors influencing its development in the context of globalization.Methods:The author carries out a comparative analysis of the development of online commerce in a number of countries, uses a systematic approach to analyze the main problems that limit the development of e-commerce in Azerbaijan.Findings & Value added: The article analyzes the main problems limiting the development of online commerce in the country and contain a number of recommendations for the further development of e-commerce in Azerbaijan.
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Ka Bean, Toh, Muzani Mustapa und Fara Diva Mustapa. „A PRELIMINARY REVIEW ON TRANSACTION COST COMPONENTS WITHIN THE BIM ADOPTED PROCUREMENTS“. International Journal of Built Environment and Sustainability 6, Nr. 1-2 (01.04.2019): 161–67. http://dx.doi.org/10.11113/ijbes.v6.n1-2.394.
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The Malaysian construction industry although it plays a crucial function in stimulating the economy, is lagging behind other economic sectors. This is due to its unique characteristics such as fragmentation and slow technology adoption. These very characteristics make the industry susceptible to construction disputes. Construction disputes were found to incur high transaction costs (TCs), affect the parties involved, and subsequently increase overall project costs. Because TCs measure the costs that incur from transaction activities, they can be used to better understand the benefits within each transaction. Additionally, TCs are the best mechanism for analysing the ‘unseen’ costs of construction procurement. Previous studies on the traditional, design-and-build, and public private partnership (PPP) procurement methods have demonstrated TCs affect the organizational dynamics of construction and selection of procurement. The emerging Building Information Modeling (BIM) technology is said to be beneficial in addressing the problems associated with disputes and overall project costs. Consequently, many projects embark on BIM adoption in procurement. Hence, this preliminary study seeks to identify the TCs of BIM-adopted procurement by employing a structured literature review to determine the components and activities within the BIM procurement within the BIM implementation. The initial framework for the components of TCs of BIM procurement was drafted by referring to RIBA Plan of Work with BIM overlay. The components are categorised into pre-contract and post-contract components. These components can serve as the basis for developing a framework that can serve as a guideline for construction players involved in managing the TCs of BIM procurement.
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Leal, Marina, Diego Ponce und Justo Puerto. „Portfolio problems with two levels decision-makers: Optimal portfolio selection with pricing decisions on transaction costs“. European Journal of Operational Research 284, Nr. 2 (Juli 2020): 712–27. http://dx.doi.org/10.1016/j.ejor.2019.12.039.
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Chen, Chin-Ling, Ching-Ying Lin, Mao-Lun Chiang, Yong-Yuan Deng, Peizhi Chen und Yi-Jui Chiu. „A Traceable Online Will System Based on Blockchain and Smart Contract Technology“. Symmetry 13, Nr. 3 (12.03.2021): 466. http://dx.doi.org/10.3390/sym13030466.
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In recent years, with the rapid levels of economic development, there have been more and more problems in property inheritance and distribution. In today’s society, people still have many taboos when writing a will. Writing a will not only involves various laws and regulations but also costs a lot of money and time, which can be daunting. However, with the development of the Internet, blockchain technology has gradually been applied to many applications. Blockchain technology uses consensus algorithms to ensure consistency and records transaction information in blocks to ensure the effectiveness of transactions. In this paper, we use the cryptography mechanism to propose an online will system based on blockchain and smart contract technology. The architecture considers effectiveness and cost reduction. By combining this with blockchain technology, will assets are saved in blocks, which provides comprehensive will security and non-tamperable security protection. In addition, combined with a smart contract, it realizes the method of automatic property distribution. At the same time, this mechanism also proposes an arbitration solution when there are disputes over wills, and ensures the integrity of data, public verifiability, unforgeability, nonrepudiation, irreversibility of information, and the ability to resist counterfeiting attacks.
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Nandi, Ravi, Nithya Vishwanath Gowdru und Wolfgang Bokelmann. „Factors Influencing Smallholder Farmers in Supplying Organic Fruits and Vegetables to Supermarket Supply Chains in Karnataka, India“. International Journal of Rural Management 13, Nr. 1 (31.03.2017): 85–107. http://dx.doi.org/10.1177/0973005216689319.
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Organic farmers are facing problems in finding the right buyers, resulting in high transaction costs (TCs). This study considers the integration of smallholder organic farmers in vertically coordinated supply chains and factors influencing them. The article draws transaction costs economics (TCE) to develop a model explaining potential TC attributes influencing farmer’s decision to participate in supermarket supply chains (SMSC) compared to spot market (SM) in Karnataka, India. This article uses data collected from 127 smallholder organic farmers through face-to-face interviews to identify factors that significantly influence the farmer’s decision. A binary logistic regression model was employed within the TC framework. Seven TC attributes were evaluated on farmer’s decision. The results revealed that farmers have a strong marketing preference towards SMSC. Attributes such as pre-arranging price, quantity, frequency, and access to market information and finance have significant positive influence on farmer’s decision to participate in SMSC. However, attribute payment mechanism has a negative influence. Furthermore, there are significant differences between SMSC and SM supplying groups with reference to variables distance to the market, the general state of the road and age. The results have a policy and managerial implication towards the development of organic food market in the Karnataka state, India.
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Ang, Andrew, und Morten Sorensen. „Risks, Returns, and Optimal Holdings of Private Equity: A Survey of Existing Approaches“. Quarterly Journal of Finance 02, Nr. 03 (September 2012): 1250011. http://dx.doi.org/10.1142/s2010139212500115.
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We survey the academic literature that examines the risks and returns of private equity investments, optimal private equity allocation, and compensation contracts for private equity firms. The irregular nature and limited data of private equity investments complicate the estimation and interpretation of standard risk and return measures. These complications have led to substantial disparity in performance estimates reported across studies. Moreover, studies suggest that the illiquidity and transaction costs inherent in private equity investments have substantial implications for optimal holdings of these assets. While incentive fees in private equity address moral hazard and information agency problems, total fees in private equity investments are very large and incentive fees account for a minority of total compensation.
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Weinstein, Michael M. „Review of Political Economy: An Introductory Text, by Edmund S. Phelps“. Journal of Economic Perspectives 1, Nr. 2 (01.11.1987): 179–82. http://dx.doi.org/10.1257/jep.1.2.179.
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Political Economy is a scintillating excursion into modern economic thinking. Not a stultified world of price elasticities of demand. Nor a world where transaction costs are zero and information is perfect. Rather, Phelps's world is a modernist (his word) vision of asymmetric and imperfect information, incentive compatibilities, and a host of other problems of coordination and reward that plague real economies. Phelps has laid down a challenge to which all of us who teach introductory economics must respond. His achievement is stunning. Yet, I predict you will not adopt this text. Unless your students are two standard deviations smarter than the ones I teach or you are three-standard deviations better at teaching than me, this text will not work well as primary text in your undergraduate course. Still you can bet that many of us will shamelessly steal its intellectual scaffold for our lectures.
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Herliana, Sri, Acip Sutardi, Qorri Aina, Qonita Himmatul Aliya und Nur Lawiyah. „The Constraints of Agricultural Credit and Government Policy Strategy“. MATEC Web of Conferences 215 (2018): 02008. http://dx.doi.org/10.1051/matecconf/201821502008.
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Low access to credit in the agricultural sector is also caused by problems of agricultural sector actors (especially farmers) and financial institutions. Farmers are still having difficulty in accessing credit (accessibility and unbankable) and the limited financial institutions that channel credit to the agricultural sector. Therefore, the government must issue a policy in growing the agricultural sector, especially in anticipation of access credit constraints by farmers. The agricultural sector as a high-risk business, therefore formal institutions are less interested in financing the agricultural sector on the grounds of high transaction costs, asymmetric information, low profits, lack of collateral, education of farmers is relatively low. In addition, most banks do not want to finance agriculture due to fluctuating production and uncontrolled price risk. While the constraints of the farmers in obtaining formal credit is a complex procedure, there should be collateral as well as high payment delay fees, long distances and less information about capital.
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Sotchenko, Yevhen. „BLOCKCHAIN TECHNOLOGY INTO STEEL INDUSTRY CURRENT STATE OF FOREIGN PAYMENT ACTIVITY“. Three Seas Economic Journal 2, Nr. 1 (26.04.2021): 78–84. http://dx.doi.org/10.30525/2661-5150/2021-1-13.
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The purpose of the article is to analyze the current state of foreign trade in the industrial blockchain of the steel industry, the existing digital platform has gradually formed a large-scale heterogeneous distributed environment. The problems of further development of the metallurgical complex of Ukraine in the world electronic system of international cooperation are determined. Methodology. The survey is based on a blockchain technology is an interlinked systematic chain of blocks that contains transaction history and other user data. It works under the principle of decentralized distributed digital ledger. Results. Experimental tests prove that production companies, logistics, international payments and consumers can participate in the information certification of steel products via the modern information system. Consumers can understand the real product manufacturing process, effectively avoiding of the incomplete information and low transparency in the traditional information traceability process, and effectively trace the quality of steel products. The system provides an effective payments scheme for promoting the transformation and upgrading of the modern technology steel industry. Practical implications. In view of the low transparency of information traceability of current steel products and the defects of information islands, in this article the blockchain-based steel smart contract payment technology quality traceability system is developed and adopted the alliance chain mode and the new digital blockchain platform. The article describes the use of smart payment technology in a full-fledged financial transaction as a transfer funds in cryptocurrency to electronic bank accounts, as well as the transfer of commercial information, including contracts. To do this, the assets and terms of the contract are encoded and placed in the block chain, then the contract is distributed is saved on a set of network nodes and is executed after the condition is triggered. The fulfillment of the obligations of the parties is checked automatically. It is worth noting that the fact that smart contracts only react to transactions. If the asset or the currency is transferred to the program, it starts monitor compliance with the terms of the contract. How as soon as they are fulfilled, the seller receives money, and the buyer is a shipment goods. Value/originality. Blockchain technologies enable the use of business information systems that are highly resistant to technical failures and malicious attacks. Costs and time of carrying out business operations are significant.
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Firdaus, Nico Alvio Maiyendra und Ritna Wahyuni. „Website Designing As A Media For Promotion And Information On Karang Setio Batik(Perancangan Website Sebagai Media Promosi Dan Informasi Pada Batik Karang Setio)“. Jurnal KomtekInfo 7, Nr. 2 (18.04.2020): 120–32. http://dx.doi.org/10.35134/komtekinfo.v7i2.72.
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Ads that will be created and displayed must have a good, unique appearance that can attract the attention of consumers and be dynamic in accordance with the fields managed by the company. Website as a medium of promotion and information has enormous benefits. First, consumers do not need to come directly to the store to see and choose the items they want to buy. Second, in terms of financial consumers can save costs incurred, if the store location is far away. The product ordering target is stronger, not only for certain regions. There is no promotion done by Karang Setio Batik Studio, either in the promotion of television advertising, radio or website, making this household industry less well known and visited by many people. And also in the transaction process is still manually with the opportunity to come to the store. Because it needs to be overcome by promoting and providing information using promotional media and website-based information, and also makes it easier to conduct transactions between stores and customers. And it can be concluded that the old system used is not effective and will cause the process carried out will take time and place so that makes employee performance less efficient and effective and results in reports that are not accurate and accurate. This research was conducted by applying a framework or research method that starts from identification of problems, problem analysis, set goals, study literature, collecting data, system design, system testing, and system implementation. By utilizing the development of technology and functions of internet promotion and website-based information as one of the marketing strategies in business development at Karang Karang Setio.
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Bogatyreva, Marina, Aleksandr Kolmakov und Mikhail Kolmakov. „Russian banking system: searching for trust“. MATEC Web of Conferences 212 (2018): 08016. http://dx.doi.org/10.1051/matecconf/201821208016.
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The article is devoted to the study of trust, as an economic resource, contributing to the reduction of transaction costs. The paper is divided into two parts. In the first part, the authors define trust, as the transaction participants’ conviction that they can rely entirely on the counterparties’ promises. After that, the character of the damage that the society experiences from the disappearance of the relationship of trust is determined. These losses are caused by the switching of resources from the productive area to the scope of transaction management. Then the authors formulate the conditions that are necessary for the emergence of trust as such and for its spread in the Russian economy. There are two such conditions. The first is the impossibility of changing the contract unilaterally, without taking into account the interests of the counterparty. The second condition is the ability to control the execution of the transaction at any time by the counterparty. Later, the authors set out the reasons why trust has not spread in the political and economic life of contemporary Russia. The second part of the article explores the specific economic problems that arise in connection with the lack of trust between the parties to the contract. As an example, the banking sector, that is, perhaps the most important branch of the modern economy is considered. The second part begins with a short historical overview of the development of the banking sector of modern Russia. It is noted that real interaction between commercial banks and the Russian households began only in the 21st century, when the ruble exchange rate stabilized and the household incomes began to grow rapidly. At the same time, the practice of opportunistic behavior of commercial banks in relation to households was formed. This practice manifests itself in the systematic provision of false information to the customers or withholding truthful information from them. The opportunism of banks, along with high real interest rates, has caused the extremely small role played by Russia’s banking system in shaping consumer demand and, accordingly, overcoming the economic crisis. The passive position taken by the Bank of Russia in confronting banks and households is noted.
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Merkley, Cari. „Staffing an Academic Reference Desk with Librarians is not Cost-effective“. Evidence Based Library and Information Practice 4, Nr. 2 (14.06.2009): 143. http://dx.doi.org/10.18438/b89s40.
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A Review of:
Ryan, Susan M. “Reference Transactions Analysis: The Cost-effectiveness of Staffing a Traditional Academic Reference Desk.” Journal of Academic Librarianship 34.5 (2008): 389-99.
Objective – To determine whether it is cost effective to staff an academic reference desk with librarians through an examination of the types of reference questions being asked and the qualifications required to answer them.
Design – Content analysis of reference transaction logs and activity-based costing for reference services based on quantitative data derived from the logs.
Setting – Stetson University, a private institution in the United States with an FTE of approximately 2500.
Subjects – 6959 phone, email, and in-person reference transactions logged at the reference desk by four full-time and two part-time librarians.
Methods – This study repurposes data originally collected to determine the frequency with which librarians turned to online versus print sources when responding to questions at the reference desk. Librarians working at the Stetson University library reference desk recorded all reference queries received in person, by phone, or by email for a total of eight months between 2002 and 2006. Data collection took place in two month intervals in fall 2002, spring 2003, spring 2006, and fall 2006. Each question and the sources used to address it were logged by the librarian. Directional questions that were not related to the library’s collections and technical questions dealing with printer or copier mechanical problems were counted, but the specifics of these questions were not recorded. It was felt that these queries would not yield data relevant to the original research question on sources used as they “did not directly relate to an information need” (391).
A total of 6959 questions were logged by librarians during the four collection periods. Questions were recorded for only 4431 transactions; the remaining 2528 queries related to printer/copier problems or non-library specific directions and were described as “direction and machine: non-informational” (394). The 4431 recorded questions were then divided into four categories derived by the researcher: look-up (a search for a known item), directional (library-specific orientation to the space and collections), technology (assistance with using library technology and electronic resources), and reference. The category of reference was further subdivided into eight additional categories: catalogue search, citation help, database help, “guide to correct databases,” “personal knowledge or referral,” “quick internet search,” research, and Serials Solutions (392). “Guide to correct databases” referred to advice on the appropriate database to answer a question and serials solutions included questions that could be answered using the Serials Solutions product, such as the availability of a particular journal or article in the collection (392). Questions were assigned to the single most appropriate category by the researcher.
Question categories were then mapped to “suggested staffing levels” (396). This determination was made by the researcher, and no details were given as to how the decision was made for each category. The three levels of staffing discussed were librarian, “trained student or staff,” and “well-trained staff/occasional librarian referral” (396).
The cost of staffing the reference desk during the eight months captured in this study was calculated by multiplying the hours worked by each librarian by his/her individual average rate of pay across the four data collection periods. Indirect staff costs such as benefits were not included in this calculation. The average cost per reference transaction was determined by dividing the total salary costs by the total number of reference queries during the periods of study. Costs for those categories of questions best addressed by a librarian could then be determined.
The actual number of librarians who participated in the study is unclear. The methodology refers to four full-time and two part-time librarians (391). However, later in the article there is reference to five full-time and three part-time librarians rather than the numbers initially stated (396). This may reflect staffing changes during the study period, with the first set of numbers referring to positions rather than individuals, but this cannot be verified with the evidence presented in the article.
Main Results – It was determined that most questions asked at the reference desk during the study period could have been addressed by trained student and staff member rather than librarians. Only 11% (784) of questions logged were deemed sufficiently complex by the researcher to require the attention of a librarian. The remaining 6175 transactions (89% of all those logged) could most likely be handled by a different staffing complement. According to Ryan, approximately 74% of the reference transactions, including directional, technology, “quick internet,” and known item searching questions could have been answered by “trained student and staff” (396). Questions on catalogue searching, databases, citations, Serial Solutions, and personal knowledge/referrals, representing approximately 15% of all questions, could have been handled by experienced and knowledgeable staff with limited librarian intervention. The complexity of the question was in part judged by the number of sources required to answer it, with most (75%) answerable with just one source.
The total cost of staffing the reference desk with librarians for the eight months studied was approximately US$49,328.00. A total of 6959 questions were logged during this period, resulting in an average cost of US$7.09 per reference transaction. This cost is approximate, as the exact time spent on each question was not recorded. The cost of answering “non-informational” directional and technical questions was the most significant (396). This category represented 36.3% of all questions received at the reference desk, with a total staffing cost of $17, 919.41 ($7.09 x 2528). “Information-orientated” directional and technology questions followed at 15.4% (US$7,620) and 12.4% (US$6,110.18) respectively (396). According to Ryan, questions in all three categories could be addressed by students and staff. The cost of addressing research questions, the only category requiring librarians, was US$5557.29. Research transactions were greatly outnumbered by directional and technology related questions. An average of 3.6 research questions were asked at the reference desk during the 12 hours it was open each day, compared to 20.8 directional/technical questions.
Conclusion – The nature of questions logged at the Stetson University library reference desk suggests that it is inefficient to staff the desk with librarians, given the salary costs of such a staffing model and the fact that librarian’s skills may not be required to answer most of the questions posed. Since the number of questions that need a librarian is so low, Ryan suggests that alternative staffing and service models be considered, so the energies of librarians could be more effectively employed elsewhere in the organization in areas such as information literacy instruction and the development of enhanced web services. It is noted that any reorganization of reference services should be done in concert with user surveys, consultation with staff, and extensive training to prepare staff for new roles. Suggested areas for further research identified by the researcher include the quality of reference transactions in an increasingly online environment.
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WELLS, Liam. „Planning for Problems with Short-term Lets? A Comparative Economic Analysis of the use of Town Planning Versus Private Law Systems to Tackle Spill-over Effects“. European Journal of Risk Regulation 10, Nr. 1 (März 2019): 60–79. http://dx.doi.org/10.1017/err.2019.21.
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New business models, such as that of Airbnb, have led to a rise in the use of residential properties as short-term lets. In this paper, the writer considers the social efficiency of the use of the public town planning system and alternative private law systems, to regulate the activity. Specifically, the paper considers the use of these in order to tackle spill-over amenity effects upon neighbouring properties. The writer applies the general framework of Ellickson (1973) in performing a comparative economic analysis of the systems. This includes an analysis of the “90-nights” rule of UK planning law, which applies to London. The writer argues that in the specific case of short-term lets, the private law systems disclose relatively low transaction costs. This, in conjunction with their allocative efficiencies, makes them preferred to town planning. Taking into account the problem of nonconvexities, it is concluded that the “90-nights” rule, and the requirement for planning permission for short-term lets, should be repealed. This conclusion encloses an understanding that the amenity effects considered here involve little uncertainty. The courts, if equipped with private information from litigants and public information from development plans, are well placed to regulate this activity.
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Clark, Benjamin Y., Nicholas Zingale und Joseph Logan. „Intelligence and Information Gathering Through Deliberative Crowdsourcing“. Journal of Public and Nonprofit Affairs 3, Nr. 1 (31.03.2017): 55. http://dx.doi.org/10.20899/jpna.3.1.55-78.
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The hollowing of the state has added new challenges for administrators attending to the competing values of the administration. This article examines how the wisdom of the crowds can be used in a deliberative manner to extract new knowledge through crowdsourcing. We will specifically examine cases of intelligence and information gathering through the analysis of a suspected nuclear reactor in Syria and the use of the crowd in mapping unknown or rapidly changing environments. Through case analysis, this article seeks to understand if crowdsourcing can offer a potential opportunity for public managers to reduce transactions costs while engaging the crowd in a form of deliberative governance to understand and potentially solve public problems. Our approach involves applying the seven lessons of deliberative governance (Scott, Adams, & Wechsler, 2004) to our cases in order to produce five administrative concepts for creating mini-publics for deliberative crowdsourcing.
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Yuan, Xu, Fang Luo, Muhammad Zeeshan Haider, Zhikui Chen und Yucheng Li. „Efficient Byzantine Consensus Mechanism Based on Reputation in IoT Blockchain“. Wireless Communications and Mobile Computing 2021 (17.05.2021): 1–14. http://dx.doi.org/10.1155/2021/9952218.
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Blockchain technology has advanced rapidly in recent years and is now widely used in a variety of fields. Blockchain appears to be one of the best solutions for managing massive heterogeneous devices while achieving advanced data security and data reputation, particularly in the field of large-scale IoT (Internet of Things) networks. Despite the numerous advantages, there are still challenges while deploying IoT applications on blockchain systems due to the limited storage, power, and computing capability of IoT devices, and some of these problems are caused by the consensus algorithm, which plays a significant role in blockchain systems by ensuring overall system reliability and robustness. Nonetheless, most existing consensus algorithms are prone to poor node reliability, low transaction per second (TPS) rates, and scalability issues. Aiming at some critical problems in the existing consensus algorithms, this paper proposes the Efficient Byzantine Reputation-based Consensus (EBRC) mechanism to resolve the issues raised above. In comparison to traditional algorithms, we reinvented ways to evaluate node reliability and robustness and manage active nodes. Our experiments show that the EBRC algorithm has lower consensus delay, higher throughput, improved security, and lower verification costs. It offers new reference ideas for solving the Internet of Things+blockchain+Internet court construction problem.
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Owusu-Manu, De-Graft, David John Edwards, A. S. Kukah, Erika Anneli Parn, Hatem El-Gohary und M. Reza Hosseini. „An empirical examination of moral hazards and adverse selection on PPP projects“. Journal of Engineering, Design and Technology 16, Nr. 6 (04.12.2018): 910–24. http://dx.doi.org/10.1108/jedt-01-2018-0001.
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Purpose Failures of public–private partnership (PPP) projects are often ascribed to the agency problem, which arise under conditions of inadequate and asymmetric information when a principal (the client) hires an agent (the contractor). This paper aims to identify the causes and effects of moral hazard and adverse selection on PPP construction projects using a synthesis of extant literature (to determine key variables) and analysis of survey questionnaire data collected. Design/methodology/approach Mean score ranking was used to rank the causes and effects of moral hazard and adverse selection problems in PPP construction projects. One sample t-test was conducted to establish the relative significance of these variables. Findings Effort dimensions (which are not verifiable), low transfer of risk, lack of accurate information about project conditions, wrong party chosen to execute project and renegotiation of contracts were the most significant causes of moral hazard and adverse selection problems in PPP construction projects. In addition, reduction of competition, high transaction costs, consequences on profitability of project, siphoning of funds and negative implications on enforceability of contract were the most significant effects of moral hazard and adverse selection problems in PPP construction projects. Practical implications Application of these findings will help mitigating moral hazard and adverse selection problems occurring when undertaking PPP construction projects. Originality/value Research findings provide guidance to construction stakeholders in the PPP sector on the different causes and effects of adverse selection and moral hazard. This pioneering study is the first to conduct an empirical assessment of the causes and effects of moral hazard and adverse selection of PPP construction projects in a developing country.
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Smirnov, Vladimir P. „Transport logistics and interaction of participants in the russian transport market“. SHS Web of Conferences 112 (2021): 00044. http://dx.doi.org/10.1051/shsconf/202111200044.
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Logistics processes are becoming more widespread in the Russian economy. Transport logistics is an integral part of logistics. Its functions are to select the optimal routes for the movement of economic goods in the interests of all participants in these processes. The purpose of this work is to substantiate the methods of solving the main problems of transport logistics in Russian conditions. The study uses a systematic approach. Based on it, algorithms for solving transport logistics problems in the Russian economy are refined, the choice of transport mode, carrier and other logistics partners is ensured, rational delivery routes are determined, the technological unity of transport and warehouse processes is established, and the optimization of transport process parameters is achieved. The emerging flow processes must be interconnected through the integration of transport, production, supply, sales, consumption, service, financing and information. In the associated flow processes, the economic interests of all participants in the transport market (the sender, who forms the material flows, the recipient and the carrier) will be rationally coordinated with the economic interests of other participants in the logistics process. This will help overcome technical, technological, informational, economic, financial, international, environmental, and labor problems. In this case, transaction costs are reduced by all participants in logistics chains, the risks of doing business are reduced, and a synergistic effect is achieved.
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Taqwiym, Akhsani. „PENERAPAN METODE ITERATIVE PADA PERANCANGAN SISTEM PEMBUKUAN PENJUALAN PT.XYZ“. Jurnal Sisfokom (Sistem Informasi dan Komputer) 9, Nr. 2 (28.07.2020): 254. http://dx.doi.org/10.32736/sisfokom.v9i2.895.
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Bookkeeping is an activity carried out by entrepreneurs and businesspeople whose purpose is to record, document transaction activities that occur in business and business processes which then from bookkeeping results are one of the factors in decision making. Recording manually for the time being is felt to be ineffective due to the difficulty of finding transaction data, there is the possibility of human error, lack of efficient storage of documentation, and lack of management in the use of time so that interfere with performance in making bookkeeping. The solution to this problem is to change the manual method to computerized. The method used is the iteration method, application design that is designed is a database-based websitebased application. By using the iterative method, the results are in accordance with the needs and the resolution of problems that occur at PT. XYZ The purpose of designing bookkeeping sales is to be a solution to the problems that occur at PT. XYZ, helps in making notes and bookkeeping automatically, helps store data to be more time efficient and neat. The benefit of iterative reengineering is the change of the manual recording system to a new system by not disrupting the system user in carrying out the sales recordkeeping process. One of the advantages of using iterative methods is the shorter operational time and costs incurred in designing small systems when converted into requirements. From the application of the interactive method, it is obtained that the application designed can help in making notes faster and the data will be stored automatically and correctly. Data storage will be entered into books which can then be accessed by leaders and parties who need the information as needed.
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Zhang, Wei, Shanyu Tang, Liping Zhang, Zhao Ma und Jun Song. „Chaotic Stream Cipher-Based Secure Data Communications over Intelligent Transportation Network“. International Journal of Antennas and Propagation 2015 (2015): 1–10. http://dx.doi.org/10.1155/2015/315721.
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Intelligent transportation systems (ITS) are advanced applications in which the transportation industry is adapted to the information technology revolution. As an important development direction of ITS, the electronic toll collection (ETC) subsystem, which enables an efficient and speedy toll collection, has gained widespread popularity in the world. In an ETC system, toll transaction data are transmitted over intelligent transportation networks, which is vulnerable to eavesdropping, interfering, and tampering attacks. To address the above security problems, we proposed a chaotic stream cipher-based cryptographic scheme to realise secure data communications over wireless sensor network (WSN), which is a part of ITS. The proposed cryptographic scheme allowed ITS to achieve key negotiation and data encryption between sensor nodes in the WSN, whileas reduced computational costs and power consumption. Security analysis and experimental results showed that the proposed scheme could protect data transmission between wireless sensor nodes from being attacked, and significantly reduced the communication overhead for the whole system compared to the existing ECC_AES scheme, thus satisfying the real-time data transmission requirement of ITS.
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Wu, Cheng Chung, Menglin Yang, Tiantong Yuan, Qionghui Fu und Ya Ju Tsai. „Application of Big Data Complexity Analysis Hedging Operation of Derivative Financial Products“. Complexity 2021 (01.02.2021): 1–18. http://dx.doi.org/10.1155/2021/6618873.
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This study is based on the situation of Taiwan listed companies as derivative financial products from 2015 to 2017, analyzing the relationship between the hedging of derivative financial products and characteristics of enterprises and the factors that affect the hedging decision-making of companies. It is found that even after the announcement of Taiwan’s No. 34 and No. 36 bulletins, there are still some problems that are needed to improve in the disclosure of derivative financial product investment information by Taiwan’s listed companies, at least in the disclosure of the reasons for this conduct which is still insufficient. In this study, two-stage regression analysis method is applied to empirical analysis, and it is found that hedging activities are related to corporate characteristics, such as expected financial crisis costs, corporate size, equity issues, growth investment opportunities, and information asymmetry. In the investment of derivative financial products, enterprises should evaluate their own financial characteristics as a reference for the risk avoidance decision. At the same time, it is necessary to investigate different natures of hedging tools used in appropriate risk categories, so as to fully achieve the hedging effect and maximize the hedging benefits. This study also found that companies with higher growth investment opportunities, larger size, and higher financial crisis costs will tend to use derivative financial products for hedging. As for the impact of other industries, it is found that the electronic and electrical machinery industries are more active than other industries in hedging behaviors of undertaking derivative financial products’ transaction.
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BELLALAH, MONDHER, und ZHEN WU. „A MODEL FOR MARKET CLOSURE AND INTERNATIONAL PORTFOLIO MANAGEMENT WITHIN INCOMPLETE INFORMATION“. International Journal of Theoretical and Applied Finance 05, Nr. 05 (August 2002): 479–95. http://dx.doi.org/10.1142/s0219024902001559.
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This paper presents of model of market closure in the management of international portfolios. We consider an investor holding a portfolio of domestic stocks and foreign stocks who faces market closure in the management of his portfolio. The investor's portfolio is affected by the exchange rate risk and different dynamics of the underlying assets during the period of trading and non-trading. The investor must determine the optimal proportions of his wealth to allocate to domestic stocks and foreign stocks during the market open and close periods. The paper investigates the effects of opening and closing on transactions demand of domestic and foreign stocks. The transactions demand at open and close periods in the securities markets are studied in the presence of information costs using the main concepts in Merton's (1987) model of capital market equilibrium with incomplete information. Using optimal control theory, we provide a solution in the general case and propose analytic solutions for the constant relative aversion utility functions. The model can be applied to solve several problems in financial economics in the presence of market closure.
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Gebreslassie, Abrehet Mehari. „Assessment of the Challenges of Value Chain Process in the Case of Ethiopia,Tigray Manufacturing Sector“. ISPEC International Journal of Social Sciences & Humanities 4, Nr. 5 (31.12.2020): 476–92. http://dx.doi.org/10.46291/ispecijsshvol4iss5pp476-492.
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The study assesses the challenges of value chain process in Ethiopia manufacturing sectors. The objective of the study was to provide an insight on the principles of value chain and its activities ,the linkage between partners and actors of the value chain and the major challenges that hinder the efficient, transparent and effective process of the value chain in the manufacturing sector. The methods used for the study were the questionnaires, semi structure interview and field visit observation in the study area. The finding shows that though different efforts were done by the government companies could not bring the required change in the value chain process due to lack of skilled manpower ,poor linkage of stakeholders, and poor infrastructure and information diffusion by the actors result in weak market share and poverty reduction, starting from raw materials to customer that include from supplier producer, wholesalers, retailers, and consumers that create various problems for the whole value chain operations like lack of demand forecasts, poor customer handling and production to prevent high cost and minimize risk in the process. Therefore, decision makers and partners should be work closely together enable firms to achieve their intended objectives. Develop market infrastructure and other measures to reduce marketing costs in reducing transaction costs and producing competitive products, incentivized business schemes to attract investors, open and develop transport roads and market infrastructure with facilitate access to affordable and quality inputs and technology.
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Daus, Firdaus. „Desain Sistem Informasi Pengolahan Data Stok Air Minum Dalam Kemasan Pada Pt.Amia Batusangkar“. Jurnal Sains dan Informatika 4, Nr. 2 (28.11.2018): 182. http://dx.doi.org/10.22216/jsi.v4i2.3695.
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<span id="result_box" lang="en"><span>After conducting research at PT.</span> <span>Amanah Insanillahia Batusangkar found problems regarding the transaction process where the recording is still using Microsoft Excel on a standard basis.</span> <span>This has resulted in reports that are not accurate and precise.</span> <span>Inventory of goods using First In First Out (FIFO) can be controlled more and can know the total inventory costs that exist at any time without having to do the first physical calculation.</span> <span>The results of this study are a design information system inventory data on bottled drinking water stock at PT.</span> <span>AMIA Batusangkar uses the First In First Out (FIFO) method.</span> <span>By utilizing a computerized system is expected to help the decision-making process and by utilizing the PHP programming language as a software and MySQL database, this application can help less effective and efficient ways and can facilitate the making of results reports and decision making.</span></span>
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KUTSIYAH, FARAHDILLA, AGOES KAMAROELLAH und UMMU KULSUM. „KETERKAITAN ANTARA MODAL SOSIAL DENGAN EFISIENSI KELEMBAGAAN PADA KOPERASI PONDOK PESANTREN SIDOGIRI, PASURUAN“. Al-Masraf : Jurnal Lembaga Keuangan dan Perbankan 4, Nr. 1 (30.06.2019): 95. http://dx.doi.org/10.15548/al-masraf.v4i1.238.
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Sidogiri Islamic Boarding School is one of the oldest Islamic boarding schools and is capable of being independent in its operational activities by having very rich resources and this institution is also an example of success in developing Islamic economics. The definition of "institution" in this article is how the rules are implemented in the pesantren's economic activities that are deeply tied to the social capital that they have. This study uses a case study qualitative approach. Data collection through observation, documentation and in-depth interviews. The results of the study show that social capital that is embedded in the pesantren environment can reduce transaction costs so that the institutional of Sidogiri Islamic Boarding School cooperative is more efficient. Network can reduce the cost of information, negotiation, coordination and supervision. Norms can decrease the occurrence of irregularities and the existence of trust. Shared vision can facilitate coordination and increase motivation. It is recommended that the application of social capital in the management of the Sidogiri kopontren be able to be transferred some other pesantren that are still lagging behind in economic development so that they are able to be independent and can help the economic problems of the community.
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Widiadnyana, Putu, M. Azman Maricar, I. Nyoman Arnawan und Sri Ariyani. „Analysis of Data Warehouse for Transactional Analysis Methods Online Analytical Processing (OLAP) at Company XYZ Silver“. International Journal of Engineering and Emerging Technology 2, Nr. 1 (23.09.2017): 72. http://dx.doi.org/10.24843/ijeet.2017.v02.i01.p15.
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Utilization of information technology is a necessity in looking at opportunities available for decision making by the management. With the ability of information technology to analyze existing used the data into useful information for a company. OLAP is Able to Overcome problems in the data processing mechanisms guided to know various information from different angles. By utilizing transactional analysis, then we know the reaction of customers in choosing the products that we will market. The result of Web-based sales has Decreased for the Gianyar and Denpasar regions but has Increased for the Ubud and online areas so as to give a benefit in terms of production costs. With the training for a sales increase of sales can evenly across locations and need input from customers related to minimize returns.
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Kivijärvi, Hannu, und Jussi Toikkanen. „Measuring the business value of IT outsourcing: a systems approach“. Strategic Outsourcing: An International Journal 8, Nr. 2/3 (15.06.2015): 156–79. http://dx.doi.org/10.1108/so-03-2015-0010.
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Purpose – The purpose of this study is to examine information technology (IT) outsourcing measurement systems. This paper proposes a systemic framework which can be used to support the evaluation of existing and the development of new measurement systems in the outsourcing context. The framework is built on the multidimensional characteristics of the business value created by IT outsourcing (ITO). Design/methodology/approach – After the conceptual discussion, this paper develops a systemic procedure for evaluating and developing measurement systems. The proposed procedure is applied in a multinational corporation operating in the electronics industry and conducting global business. First, the characteristics of the previous measurement system are evaluated, then the systemic properties of the current system are assessed and, finally, a new measurement system is proposed. Findings – The findings reveal that the measurement systems differ on many levels, namely, input, measurement process and output. The framework provides a structure for proper comparison of alternative measurement systems. When comparing the results to the most commonly used ITO theories, specifically the resource-based view and transaction cost economics, it is somewhat surprising that individual elements such as the cost of outsourcing and focus on core competencies were not weighed any higher in the final results. Practical implications – Organizations have difficulties in measuring actual benefits, opportunities, costs or risks involved in outsourcing transactions. The proposed framework forms a basis to resolve the measurement problems and even support the actual sourcing decisions. The applicability of the proposed approach was verified by evaluating three different types of measurement systems in a multinational corporation conducting global business in the electronics industry. Originality/value – Different kinds of measurement systems can be evaluated by the same systemic framework. The evaluation process is not limited to qualitative or quantitative assessments, but the same framework can be used in both cases.
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Zhao, Hong, Xue Bai, Shihui Zheng und Licheng Wang. „RZcoin: Ethereum-Based Decentralized Payment with Optional Privacy Service“. Entropy 22, Nr. 7 (27.06.2020): 712. http://dx.doi.org/10.3390/e22070712.
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As the blockchain 2.0 platform, Ethereum’s turing complete programming language and smart contract components make it play an important role in the commercialization of blockchain. With the further development of blockchain applications, the privacy and security issues of Ethereum have gradually emerged. To solve this problem, we proposed a blockchain privacy protection model called RZcash in the previous work. It implements the dynamically updateable and verifiable hiding of the asset information in Ethereum, namely the account balance and transaction amount. However, RZcash does not pay attention to the key redundancy problem that may be caused by the creation of secret accounts. In addition, the large size of proofs gives it high communication costs. In response to these problems, we further improve RZcash. For the key redundancy problem, we construct a new signature scheme based on the ciphertext equivalent test commitment. Moreover, we use the Schnorr signature and bulletproof to improve the corresponding proof scheme in RZcash, thereby reducing the size of proof. Based on these improvements, we propose a decentralized payment system, called RZcoin, based on Ethereum. Finally, we implement the algorithm model of RZcoin and evaluate its security and performance. The results show that RZcoin has higher security and Lower communication cost than RZcash.
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Адамов, Д. В., М. А. Юхненко und Є. Р. Богдяж. „Implementation of management accounting in the system of economic monitoring of activities in the context of globalization“. Public administration aspects 7, Nr. 12 (02.01.2020): 97–104. http://dx.doi.org/10.15421/151969.
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The article deals with the problems that arise during the implementation of the concept of modern management accounting for Ukrainian enterprises by introducing new accounting systems and developing approaches to accounting and information generalization of transaction costs in order to effectively manage them in the globalized economy. The existing system of introduction of management accounting at enterprises is examined and the introduction of management accounting on foreign examples is considered, namely the balanced system of indicators, which is already actively used abroad and is just beginning its development in Ukraine. The research of this topic is related to the change of accounting information systems in modern conditions and the need to create a global accounting system, and adjustments are made to management accounting functions. The article compares and defines the distinctive features of accounting, and its composition of financial, tax and management accounting. A clear algorithm for the construction of this system at the enterprise and indicators that must be calculated for a complete and independent analysis of the work of the enterprise are distinguished and described. The ambiguous interpretation of the concept of managerial accounting in the course of its evolutionary development has led to the study of this topic. The article presents a system of metrics that are calculated within the Balanced Scorecard system used by the enterprise. The problems of implementing a balanced scorecard based on the experience of corporations already using the system are also discussed. The lack of legal and legislative framework to stimulate and encourage the introduction of this concept into the practice of management accounting in Ukraine leads to the unsatisfactory functioning of this system. According to the results of the research, the recommendations on the introduction of management accounting in the system of economic monitoring of activity in the conditions of globalization are given.
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Alwan, Alaa Hussein, und Mohammed Salman Abbood. „An Analytical view of the Extent to which the Tax Accounting Process Conforms to the Transfer of Property Ownership in Accordance with Resolution 120 of 2002 with the Tax Rules“. Muthanna Journal of Administrative and Economic Sciences 11, Nr. 1 (05.05.2021): 266–78. http://dx.doi.org/10.52113/6/2021-11/266-278.
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The tax on the transfer of real estate ownership is one of the taxes that were applied in Iraq after the year 2002 according to Resolution No. 120 of 2002. This was due to the problems that faced the work of the General Tax Authority in the process of accounting for transactions of transferring ownership of the property according to the previous mechanism of this decision. The tax accounting, according to this decision, is with the well-known tax rules because the compatibility between the tax accounting process on transferring the ownership of the property and the tax rules will lead to implant confidence between the taxpayer and the tax administration. The taxpayer's would not feel complacency and lack of unfairness when there is tax justice and clarity in the tax accounting process. Thus, this leads to avoid the problems that may occur Between the two parties to the tax accounting process. A number of applied cases are studied in Al-Mahmoudiya branch, one of the branches of the General Tax Authority. These studies are to demonstrate the extent of compatibility between the tax accounting for transferring ownership of the property with the tax rules. The research has come out with a set of conclusions, including that this type of tax does not comply with some tax rules. It is not consistent with the principle of justice, since the taxpayer who sells a share of his property bears more tax than it is. Also, it does not comply with the rule of certainty because the taxpayer does not have sufficient information about his complex tax accounting mechanism, since most of the taxpayers do not have tax awareness and are ignorant of the tax laws. It is consistent with the rule of convenience because the taxpayer will pay its amount after receiving the amount of the property that he sold or disposed of, and it corresponds to the rule of economy as it does not cost the tax administration high costs when collected. The taxpayer is the one who is forced to pay it when completing his transaction to sell his property. The research has reached a set of recommendations that could enhance the effectiveness of the tax calculation process on property transfer transactions and its compatibility with tax rules.
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Rahman, H., FA Happy, AH Efan und MHR Hera. „The Small-Scale Dairy Value Chain Analysis: Challenges And Opportunities For Dairy Development In Mymensingh District Of Bangladesh“. SAARC Journal of Agriculture 17, Nr. 2 (03.02.2020): 213–26. http://dx.doi.org/10.3329/sja.v17i2.45307.
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This study examined the prevailing dairy value chain based on primary data collected from 70 small-scale milk producers of Mymensingh district of Bangladesh. The total cost and net return per month per cow were Tk. 4024.30 and Tk. 3165.70, respectively. The net value additions of Tk. 2091.42, Tk. 495.00, Tk. 655.00, Tk. 503.25, Tk. 309.70 were estimated for milk producers, collectors, Faria, Bepari and retailers respectively. Different actors spent highest marketing cost ranged from Tk.49 to Tk.80 for transportation compared to other marketing functions. Actors mostly dependent on the on-going market prices for setting price of milk in the value chain. A value chain map was developed showing the relationships and linkages among value chain actors of small-scale dairy. The study identified some critical factors for successful dairy marketing. The factors were understanding consumer behaviour, technology and transportation, improved business relationships, reduced transaction costs, and improved information flow, and organized market structure. Milk producer’s share in consumers’ price was highest for channel- I followed by channel- V. Expensive, inadequate, low quality feed, lack of grazing land, green grass, inadequate capital, knowledge about cost of production, weak extension services, high fees and unavailability of veterinary doctors, were some of the major problems of milk producers. Supply of adequate feed at subsidized price, ensuring easy access to institutional credit at a lower interest rate, adequate medicine and veterinary services, allocation of khas land for producing fodder/grass, were suggested to solve the problems.
SAARC J. Agri., 17(2): 213-226 (2019)
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Cebul, Randall D., James B. Rebitzer, Lowell J. Taylor und Mark E. Votruba. „Organizational Fragmentation and Care Quality in the U.S. Healthcare System“. Journal of Economic Perspectives 22, Nr. 4 (01.10.2008): 93–113. http://dx.doi.org/10.1257/jep.22.4.93.
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Many goods and services can be readily provided through a series of unconnected transactions, but in health care, close coordination over time and within care episodes improves both health outcomes and efficiency. Close coordination is problematic in the U.S. healthcare system because the financing and delivery of care is distributed across a variety of distinct and often competing entities, each with its own objectives, obligations, and capabilities. These fragmented organizational structures lead to disrupted relationships, poor information flows, and misaligned incentives that combine to degrade care quality and increase costs. We illustrate our argument with examples taken from the insurance and hospital industries, and discuss possible responses to the problems resulting from organizational fragmentation.