International Journal of Economics and Statistics


ISSN: 2309-0685
Volume 5, 2017

Notice: As of 2014 and for the forthcoming years, the publication frequency/periodicity of NAUN Journals is adapted to the 'continuously updated' model. What this means is that instead of being separated into issues, new papers will be added on a continuous basis, allowing a more regular flow and shorter publication times. The papers will appear in reverse order, therefore the most recent one will be on top.

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Volume 5, 2017


Title of the Paper: Corporate Governance and Entrepreneurship Development in Mongolia: An Empirical Assessment

 

Authors: Ernest U. Nweke, Enkhtuya Bavuudorj

Pages: 118-124

Abstract: Following the transition of Mongolia from state controlled and state directed economic leaning to free market economy, government past and present have focused on measures to stimulate entrepreneurship and boost economic development. Furthermore, to enhance investor confidence in listed firms and ensure capital inflow from both local and foreign prospective investors, the need for improved corporate governance mechanisms have become imperative in Mongolia’s transitioned firms as well as in newly created establishments. This paper focuses on the investigation of the vital relationship between Corporate Governance and entrepreneurship development in Mongolia. Data for the research were researcher – generated and collated through a survey of practicing professionals. Statistical analysis of collected research data using Spearman’s Rank Correlation Coefficient, provide ample evidence that corporate governance mechanisms do significantly impact entrepreneurial development in Mongolian firms.


Title of the Paper: Identifying Successful Determinants of the Michinoeki in Kyushu Island in Japan

 

Authors: Minoru Kumano, Tsutomu Ito, Takao Ito

Pages: 113-117

Abstract: This paper examines determinants of Michinoeki, (a roadside rest station in English), in Japan. With 27 years history, the Michinoeki is a well-known typical successful model for revitalization of regional economy now. To our best knowledge, academic studies about Michinoeki have not been published yet. Gathering data from Kyushu Island, this paper investigates the history, and the current state of Michinoeki. Specifically, the manuscript makes a contribution to the literature by developing a framework of Michinoeki and statistically investigating the relationship between (a) two exogenous variables, viz., sales revenue and number of the purchasers visited, and how they are influenced by 11 determinants that include square meters of land space (SMLS), number of the visited cars (NVC), number of the visited large-size cars and trucks (NVLSCT), square meters of parking area (SMPA), total number of the restroom (TNR), square meters of free rest place (SMFRP), seats of the free rest space (SFRS), weekdays’ traffic near the station (WTNS), holidays’ traffic near the station (HTNS), population of the city located (PCL); total expenses including maintenance cost (TEIMC) have been analyzed using regression analysis. Based on the results of the hypothesis tests, the findings of the study are described and the managerial implications regarding Michinoeki are addressed.


Title of the Paper: A Review of Electricity Price Forecasting Problem and Techniques in Deregulated Markets

 

Authors: Nitin Singh, S. R. Mohanty, K. K. Mishra, Filippo Neri

Pages: 101-112

Abstract: In Deregulated electricity markets, price forecasting is gaining importance between various market players in the power in order to adjust their bids in the day-ahead electricity markets and maximize their profits. Electricity price is volatile but non random in nature making it possible to identify the patterns based on the historical data and forecast. An accurate price forecasting method is an important factor for the market players as it enables them to decide their bidding strategy to maximize profits. Various models have been developed over a period of time out of which the following three models that are mainly used for Electricity Price forecasting are: (i) Game Theory Models, (ii) Time Series Models and (iii) Simulation Models; time Series Models are widely used among all three for day ahead forecasting. The presented work summarizes the influencing factors that affect the price behavior and various established forecasting methods are compared such as Artificial Neural Network (ANNs), Auto Regressive Integrated Moving Average (ARIMA), Generalized Autoregressive conditional heteroskedasticity (GARCH) etc.


Title of the Paper: Demand-Side Management: Profit Function Formulation for Renewable Energy Power Market

 

Authors: Mohammad Abolhasanpour, Amir Abolfazl Suratgar

Pages: 96-100

Abstract: A volume discounting model in the micro-grid power market discussed in this paper. The Generator Companies’ (GenCo) discounting model and the special fares for Distribution Companies (DisCo) formulated. The concept of renewable energy intermittent electricity load transfers to the certain storage devices in the distribution level presented as a novel contribution to the field. According to demand-side needs, GenCo will periodically recharge DisCo energy storage devices by using the intermittent renewable energy resources as a set of micro grids. GenCo will sell certain volume of electricity to a subsidiary DisCo based on the bilaterally agreed list prices. In parallel, DisCo will sell the stored renewable electricity certain end-users. GenCo will set final unit price for each level of electricity consumption. Considering the final unit price that GenCo proposes to Disco for different power consumption levels, GenCo tries to maximize its profit margin by controlling DisCos’ order behavior, in term of volumes per order, by using a discounting tool. Respectively DisCo tries to maximize its profit margin by considering the proposed special fares by GenCo. Finally, this paper presented cost functions for the power market players.


Title of the Paper: Estimation of Cumulative Distribution Function with Spline Functions

 

Authors: Akhlitdin Nizamitdinov, Aladdin Shamilov

Pages: 91-95

Abstract: The estimation of the cumulative distribution functions (CDF) and probability density functions (PDF) are important in the statistical analysis. In this study we estimated the cumulative distribution functions using following types of spline functions: B-spline, penalized spline (P-spline) and smoothing spline. The data was generated from the mixture normal distributions. We used 15 different mixture normal distributions with broad range of shapes and characteristics. From each model it was generated 1000 samples of sizes n=50, 100 and 200 respectively. We have used the third degree of the spline functions, as it is most used type of spline in recent studies. We compare the estimation accuracy of the three spline estimators with the empirical estimators in terms of their mean squared error (MSE).


Title of the Paper: The Payback Period Influence from Electricity Price of Photovoltaic Energy Systems for Local Customers in the Presence of Electricity Complications and Incentive Tariffs to Reduce Gas Emissions

 

Authors: Ali Bashiri, Pooya Najafi, Sasan Hosseinalizadeh, Mojgan Bashiri

Pages: 85-90

Abstract: Use of solar energy is still required to spend much money. But the financial resources foreseen in clause "v" of note 11 in the 1393 budget law through the resources of electricity complications for installing small photovoltaic power plants and solar pre-heaters to home subscribers has been smooth the way to use them. In the beginning, each domestic subscriber pays approximately 40.000.000 Rials to use the electricity subsidy for purchasing and installing the 1 kW photovoltaic power plant. The power generation of the 1 kW photovoltaic power plant, in Tehran, will be equal to 1568 Kwh in a year and will lead to a reduction of 1.081 tons/year in carbon dioxide emissions. Use of the photovoltaic power plant, with the current price of electricity and this initial cost and without guaranteed sales of electricity to the network, has no economic justification. So to develop the culture of using renewable energy and reduce greenhouse gas emissions, a solution should be considered. In this paper, the incentive tariff to reduce the greenhouse gases has been defined and its value has been obtained at least 6,409,451 Rials per tons of reduction in greenhouse gas. This amount should be paid with a fixed rate to domestic subscribers over 25 years to the project would be economically feasible. This fee can be paid annually through domestic subscribers' Energy card from the resources of clause "Q" of note 2 in the 1393 budget law.


Title of the Paper: Capitalist and Fraction in Local Politics: Case Study of Samut Sakhon Municipality, Thailand

 

Authors: Saran Jirapongsuwan

Pages: 80-84

Abstract: Established in Thailand for a long period of time, municipality is a local political unit that has fostered close relationships with people and been capable of setting a direction of local administration in its responsible area in each province. Therefore, it is not surprising to see groups of politicians or capitalists attempting to penetrate into and assume absolute power in the municipality. In fact, the groups that possess ultimate power in this local political unit will be empowered and gain control over the local economy. Obviously, municipality is regarded as a key administrative unit that plays a vital role in the local political and economic arena. Therefore, the author would like to initially illustrate the overall background of the municipal units in order to create complete understanding about the subject matter and a clear insight about the study which will be discussed in detail later on in this paper.


Title of the Paper: A Comparative Analysis for Hotel Location Selection: A Case Study for Turkey

 

Authors: Nazli Goker, Mehtap Dursun

Pages: 76-79

Abstract: This work introduces DEA-based approaches to hotel location selection problem for Turkey, by improving the decision making approach of Uygurtürk and Uygurtürk [1]. Three different programming models such as CCR, minsum efficiency, and the common-weight DEA-based approach of Sun et al. [4], are solved. Efficiency values and ranking results of these models are determined, a comparative analysis is provided.


Title of the Paper: Co-Integration Relationship Between Interest Rates and per Capita Income (Case Study Saudi Arabia )

 

Authors: Zouaoui Chikr El Mezouar

Pages: 72-75

Abstract: Economic theory suggests that there is a common integration relationship between Per capita income (PCI) and interest rate (IR), where the interest rate is one of the tools used monetary policy to tackle Per capita income. In this research we will try to clarify the relationship between the interest rate and Per capita income through the test of cointegration relationship between time-series variables to clarify the degree of complementarily.


Title of the Paper: Aspects Regarding the Quality of Employment in Romania

 

Authors: D. Pașnicu, G. Tudose

Pages: 66-71

Abstract: The multidimensional concept of "quality of employment" recommended by the European Commission (EC) or "decent work" promoted by the International Labor Office (BIT) is a difficult subject to address as there is currently no unitary theoretical framework to measure employment quality from a multidimensional perspective. To highlight the complex and multidimensional character of the "quality of employment" in the paper, an analysis of the evolution of the statistical measurement of this concept is made, emphasizing the main approaches in the field. Using a hierarchical cluster method, a comparative analysis of employment quality in small and medium-sized firms, at EU and candidate country level, from training, career-development, working time arrangements and pay perspective, is made. Also, some results of a sociological investigation regarding the quality of employment in SMEs from Romania are presented. It can generally be seen that the quality of employment in small and medium-sized firms is dependent on the degree of development of the countries concerned, on the modernization of labor markets as well as on the geographical position. In Romania, the quality of employment is not a key priority for the management of SMEs, which results from the relatively low investment in the human resource.


Title of the Paper: Study on Ways to Accommodate the Entry of Migrant Workers into SMEs Business of Thailand. A Case Study: Myanmar and Lao Migrant Workers

 

Authors: Pattaravis Yoowattana

Pages: 61-65

Abstract: The study on the approach to support the entry of migrant workers into the SME business in Thailand, a Case study: Myanmar and Lao migrant workers has an objective to acknowledge the labor market related policies in ASEAN member countries, various factors and obstacles, including the potential impact of labor migration and prepare for the relocation of labor into the ASEAN community by defining the scope of the study, focused on the problems and obstacles of moving labor into the country between 2 groups of populations, needs, current impacts, and perspectives on current work and labor migration issues. In this case, it is studied on the ways in the government sector to solve problems on vital policies towards the problem solving, including obstacles such as in the field of law. From the study, it can conclude problems issues which are problems with the illegal immigration system of migrant workers by the Government, problems on the proof of nationality of illegal immigrant workers, including problems related to the import of foreign workers from neighboring countries according to the Memorandum of Understanding on Labor Cooperation and the Problems of illegal labors suppression and related parties.


Title of the Paper: A Model of Creative Tourism Management in Coastal Fishery at Ban Bang Lamung, Chonburi Province

 

Authors: Anyapak Prapannetivuth

Pages: 51-60

Abstract: The objectives of this research were to study 1) A model of creative tourism management in Coastal Fishery at Ban Bang Lamung, Chonburi Province 2) To investigate the local community Participation, Local wisdom about sustainable tourism, including an obstacles in the potential tourist areas that have been developed to be a model of creative tourism. This research was qualitative research, the tools was the in-depth interview form. The key informant was the 10 specialist of tourism in Ban Bang Lamung, Chonburi Province include a government agency, that is, Designated Areas for Sustainable Tourism Administration (Public Organization) or DASTA. The result found that the Model of Creative Tourism in Coastal Fishery at Ban Bang Lamung, Chonburi Province is to build or create the value-added for the tourism resources which available in Tourists were especially satisfied with the activity owner characteristics, in which all the hosts were ready and willing to convey their specialties and knowledge to the tourist. Both our experts, Government Officers, leader of the community and tourists also reflected on how creative tourism can be beneficial for development. It is recommended that future study should focus on the factors that reflects context of Coastal Fishery at Ban Bang Lamung, Chonburi Province. There are some factors to propose included, Creative Entrepreneur, Creative Activities, Creative Communication, and Creative travelling routes with relative province and neighbor country.


Title of the Paper: Patient-Reported Outcome versus Performance-Based Variations of Talk Test: A Baseline Comparison of Utterance Characteristics

 

Authors: Siti R. Mahmod, Aqilah L. Narayanan, Eko Supriyanto

Pages: 45-50

Abstract: Most versions of TT use individual-reported speaking comfort while exercising to estimate exercise intensity. Currently, only one variation, called the Counting TT, has been used to estimate exercise intensity based on speech utterance performance during exercises and at resting condition. Consistency and repeatability of temporal utterances during the resting TT is of considerable relevance for research and clinical settings to serve as a crucial baseline so that the changes in cardiorespiratory exertion during exercises can be determined accurately. Sixteen participants read aloud the following standard passages: (a) the ‘Pledge of Allegiance of the United States (PA)’, (b) the ‘nineteenth article of the Italian Constitution (IC)’ and, (c) the Counting TT (CTT) at their usual talking pace. PA and IC were patient-reported outcome variation of TT while CTT was a performance-based TT. All TT transcripts were in English and uttered for two repetitions at two different sessions. PA and IC were uttered with significant differences of number of pauses and utterance duration either across sessions or test repetitions (p < 0.05). Only CTT possessed consistent temporal utterances across repetitions and sessions (p > 0.05) and had the highest intra session repeatability for all its utterance variables (ICC ≥ 0.83) except for the number of pauses. Inter-session repeatability of CTT utterance rate and articulation rate were slightly lower at ICC ≤ 0.78. Our findings suggest that pause occurrences may be important sources of inconsistency and unreliability of temporal structure of utterance in the existing variations of TT.


Title of the Paper: Road Physical Factors Contributing to Traffic Accidents Case Study: Klong Chan Sub-district Bangkapi District Bangkok, Thailand

 

Authors: Musthaya Patchanee

Pages: 40-44

Abstract: The objective of this research is to study the pattern of traffic accident distribution in Klong Chan Sub-district, Bangkapi District, Bangkok, and to analyze the road physical factors that cause traffic accidents. Data used in the analysis is the primary spatial data of locations obtained from field surveys by utilizing Global Position System or GPS, as well as the secondary data of traffic accident cases in 2014. Area units observed for this analysis consist of six major roads in Klong Chan Sub-district, Bangkapi District, Bangkok. Techniques and methods used for data analysis are mathematical calculation and spatial statistics of the Nearest Neighbor Index (NNI) and the Multiple Regression Analysis. After examining the distribution form of locations that traffic accidents occurred in 2014 in Klong Chan Sub-district, Bangkapi District, Bangkok, the calculation result indicates that the nearest neighbor index is 1.1031523, suggesting a uniform distribution pattern. In this regard, Ladprao Road has the highest number of accidents with 33% (R = 1.145327), suggesting a uniform distribution pattern. Nawamin Road ranks second with 25% (R = 0.949936), suggesting a random distribution pattern. Ladprao 101 Road ranks third with 18% (R = 0.754796), suggesting cluster distribution pattern. Pho Kaew Road ranks fourth with 11% (R = 0.962824), suggesting a random distribution pattern. Happy Land Road ranks fifth with 10% (R = 1.54356). Seri Thai Road ranks sixth with 3% (R = 1.262481), suggesting a uniform distribution pattern. Analysis of road physical factors contributing to traffic accidents reveals that conflict point is the only factor of traffic accidents in Klong Chan Sub-district, Bangkapi District, Bangkok. Moreover, factors relating to conflict point can explain the change in traffic accident scale to 72.60% (R2 = 0.726). Multiple regression summation analysis was Y = 15.429 + 2.575 X4(junction)


Title of the Paper: Perceptions about the Existence of Plenty of Good Opportunities for the Creation of New Firms

 

Authors: Aldina Correia, Vasco Bento, Eliana Costa e Silva, Vıtor Braga

Pages: 34-39

Abstract: This essay consists in a statistic study of a database from the Global Entrepreneurship Monitor (GEM), specifically the 2011 GEM National Expert Survey (NES) individual data and aggregated data. The GEM project consists in a multinational effort to interview thousands of individuals from different countries with the intention to create a database to study the relationship between entrepreneurship and the economic growth. GEM’s conceptual framework depicts the multifaceted features of entrepreneurship, recognizing the proactive, innovative and risk responsible behaviour of individuals, always in interaction with the environment, in order to uncover factors that encourage or hinder entrepreneurial activity, especially related to societal values, personal attributes and the entrepreneurship ecosystem. GEM provides a platform for assessing the extent to which entrepreneurial activity influences economic growth within individual economies and uncover policy implications for the purpose of enhancing entrepreneurial capacity in an economy. To analyse this database a Factor Analysis (FA) and a Multivariate Linear Regression (MLR) were used. The goal is to understand the entrepreneurship expert’s perceptions in three fulcrum areas related to funding a business (financial aid, governmental politics and governmental programs) to new and growing firms. Are also analysed these perceptions about the existence of plenty of good opportunities for the creation of new firms.


Title of the Paper: Marketing Innovation Using Cis Portuguese Dataset

 

Authors: Aldina Correia, Ana Machado, Alexandra Braga, Vıtor Braga, M. Fatima Almeida

Pages: 27-33

Abstract: The recognized importance of innovation and the more and more determining role performed by the marketing have united in a way that makes innovation in marketing a question of great relevance for the economy. However, despite the importance of the marketing sector in the developed economies, the studies on innovation in this sector only gained relevance in the last twenty years. Until then, the researches and studies on innovation focused mainly on products (tangibles) and in the industrial sector, always considering marketing (and its services), and its components as ”laggards” when referring to the innovation question. Based on a sample of 6160 Portuguese companies which replied the 2010 Community Innovation Survey, it has been used multivariate techniques as Factor Analysis (FA) and multivariate linear regression (MLR) which measured the factors associated with main contribution and the best innovative performance, mainly focused in the investment in marketing innovation.


Title of the Paper: Promoting Social Cohesion Through Investments in the Health Sector from the EU Funds – Opportunities and Challenges

 

Authors: Małgorzata Dziembała

Pages: 21-26

Abstract: The main aim of EU cohesion policy is to diminish the existing disparities and to ensure economic, social and territorial cohesion. The achievement of social cohesion is becoming of particular importance for the EU and the social policy serves to attain this goal. The health of citizens can be considered as one of the conditions contributing to the increase in the economic prosperity and economic growth. However, there are health inequalities in the EU at the national and the regional level, which are determined by many different factors. Investments in the health sector could contribute to the reduction of disparities and to the achievement of social cohesion. The aim of the article is to show how important projects co-financed from the EU structural funds in the scope of health are for the elimination of inequalities existing in this regard. A particular emphasis is placed on projects implemented in Poland. Due to low public expenditure on health in Poland, the financial resources from cohesion policy will still be very important sources of financing and should contribute to the economic growth of this country. These financial instruments support not only health directly, but also indirectly. Investments in the healthcare infrastructure in Poland in 2007-2013 were punctual and, therefore, it is necessary to coordinate them at the regional and central level and to assess the usefulness of investments undertaken in 2014-2020. The following methods were used in the article: descriptive analysis, descriptive statistics and analysis of strategic documents.


Title of the Paper: Knowledge Sharing and Job Performance: The Intervening Role of Technological Competency in Knowledge-Based Industries

 

Authors: Ravindra Hewa Kuruppuge, Aleš Gregar

Pages: 15-20

Abstract: This study examines the intervening influence of technological competency on the relationship between the employee’s knowledge sharing and job performance in knowledge-based industries in Sri Lanka. Knowledge sharing, technological competency and job performance were measured in a sample of 141 managers who are employed in the profession of Database Administration & Development, Systems & Network Administration, Web Development & Programming and Software Engineering. The results of the hierarchical regression indicated that tacit and explicit knowledge sharing positively correlated with job performance while tacit and explicit knowledge sharing correlated together. Furthermore, technological competency has shown a partial mediation effect and thereby weakening the strength of association between tacit knowledge sharing and job performance. A perfect mediation effect by technological competency is reported on the relationship between explicit knowledge sharing and job performance.


Title of the Paper: Application of Finite Markov Chains To Decision - Making

 

Authors: Michael Gr. Voskoglou

Pages: 10-14

Abstract: During the last 50-60 years the rapid technological progress together with the radical changes happened to the local and international economies and other relevant reasons led to a continuously increasing complexity of the problems of our everyday life connected to decision making, i.e. to the process of choosing a solution between two or more alternatives, aiming to achieve the best possible results. Thus, from the beginning of the 1950's a progressive development started of a systematic methodology for the decision making process, which is based on Probability Theory, Statistics, Economics, Psychology, etc. and it is termed as Statistical Decision Theory. In the present paper we develop a finite Markov chain model for the mathematical description of the decision making process. An example is also presented to illustrate our results.


Title of the Paper: The Relationship between Economics and Ideology and its Impact on Economic Crisis

 

Authors: Ion Bucur

Pages: 5-9

Abstract: The assessment of the current status of economics must take into consideration the intellectual and historical context. Such an approach enables the understanding of the causal relationship between the evolution of economic ideas and theories and the major financial and economic crises. The current impasse of economics is caused by the inability of the dominant theory to identify the forces that contribute to the destabilization of the economic system and to provide adequate solutions. Economic crises are essentially crisis of ideas. The impact of the orthodox economic theory on the global crisis is indisputable and requires considerable theoretical and methodological efforts to reform the economy. Change of vision, openness to a non-conformist thinking, realistic and practical approaches represent fundamental dimensions of a deeply humanistic economic science.


Title of the Paper: Power Transformations for Families of Statistical Distributions to Satisfy Normality

 

Authors: Ozer Ozdemir

Pages: 1-4

Abstract: Data transformations are an important tool for the proper statistical analysis of data from various disciplines such as biological, ecological, medical studies. The requirement for the data transformations is normality which is the one of main important central assumptions in these statistical analyses. A Monte Carlo simulation study is made for controlling the power transformation methods to achieve normality in this study. Log-normal, Beta, Gamma, Weibull and Rayleigh probability distributions are simulated with different parameters in order to transform them to be normal. The interpretations of the results are made and the convenient transformations for the each specified distribution is determined.