Technology assessment (TA) is not a new concept. High value energy technology identification needs to be followed by a decision process in which all shareholders contribute. A case study on Combined and Heat Power (CHP) technologies considered is presented to illustrate the applicability of fuzzy analytical hierarchy assessment approach (FAHP). The goal of this paper is to identify and evaluate the best variant of CHP technologies using multi-criteria that are technical feasibly and cost effective reflecting performance parameters. The results depict that technology A2 with an overall ranking of 0.438 is the best alternative compared to others. Taking into consideration decision parameters for the section, A1 is found to be relatively most important with a rating of 0.434 with its reliability and cost effectiveness. The presented fuzzy-based methodology is general expected to be used by a diverse target groups in energy sectors.
It is shown that the isometry group of the de Sitter spacetime includes two different three-dimensional Abelian subgroups which transform between themselves through a discrete isometry corresponding to the time reversal in the five-dimensional Minkowski spacetime embedding the de Sitter one. The eigenfunctions of the generators of these Abelian subgroups form two different sets of quantum modes correlated by the mentioned isometry.
This paper studies the combined effects of innovation and information and communication technologies (ICT) on the performance of Small and Medium Enterprises (SMEs). To do this, it uses data from the «General survey of Companies in Cameroon», conducted on 93,969 companies by the National Institute of Statistics (NIS). Of the 93,969 companies surveyed, only 8035 enterprises were questioned according to the synthesis report published in 2010 by the NIS. From this sample, this study extracts innovative SMEs and applies a multiple regression model to assess the direct effects of innovative activities and the use of ICT on SME performance. The econometric analysis shows that: ICT helps to increase SME performance by supporting innovation through the acquisition of new software and hardware equipment. Thus, innovation accompanied by the firm’s use of ICT has a significant effect on performance since Software and Machinery Acquisition related to technological innovations contribute to the firm’s productivity. However, the degree to which the use of ICTs is rooted in the company can accelerate the innovation process and, in the same way, improve firm performance in terms of cost reduction and rationalisation of processes.
The development of a service economy and the more and more noticeable phenomenon of servicization have become inseparable elements in the evolution of the modern economy. The goal of this paper is to analyse the impact of servicization on selected economies, both in terms of GDP and employment structure, as well as on changes in foreign trade. The secondary, but still important aim is to examine the relationship between servicization and innovation processes. Based on the conducted research, it can be stated that the process of servicization occurs in both developed post-industrial economies and increasingly often in developing countries. Moreover, the analysis of the relationship between the general level of innovation in the economy and the degree of its servicization, showed that in many countries higher innovation is often associated with a stronger role of the service sector in the economy. The dynamics of structural change taking place in the “deagrarianization-deindustrialization-servicization” chain is therefore substantially influenced by technological progress.
Renfei Luo, Jiedan Huang, Jimmy Lee and Philip Pun
How to manage inventory is becoming an increasingly crucial issue for most manufacturing companies. R&D, the pseudonymous case study considered here, is a foreign direct investment (FDI) company engaged in producing electronic components. As the prices of raw materials and operation costs increased, R&D was challenged to maintain a smooth relationship among several factors: level of inventory, customer satisfaction and production efficiency. This paper first discusses the key factors that affect R&D’s inventory level. It then combines recent supply chain management theories and quantitative data into a framework for identifying how R&D might determine optimal ordering policies and strategies to reduce overall costs, while at the same time satisfying customers in terms of service.
Chekwube Vitus Madichie, Festus Osagu and Eze Anoke Eze
The sharp and continuous decline in crude oil prices since the mid-2014, along with the lackluster efforts at diversifying the sources of revenue and foreign exchange in the economy, incontrovertibly led to the recession that greeted Nigeria in the second quarter of 2016 as manifested by fiscal crisis. Hence this study examines the imperative of economic diversification in trade and industrial policies in Nigeria. In order to characterize the pattern of trade and industrial transformation in the diversification process, we adopted the augmented version of Kaldor’s first law which establishes a link between manufacturing output and economic growth. Based on annualized secondary time series, spanning from 1970 to 2015, obtained from the CBN statistical bulletin of various years, the study employed the contemporary econometric techniques of cointegration and error correction mechanism, within the framework of the Autoregressive Distributed Lag (ARDL) model as proposed by Pesaran et al (2001) in achieving its objective. The results show that manufacturing output, crude petroleum and natural gas production, as well as mining production have significant positive longrun impact on economic growth in Nigeria. This implies that economic diversification-based industrial policies will definitely bring about the desired economic outcomes in Nigeria. We therefore conclude that trade and industrial policies should be geared towards diversification of the economy.
Background: Harmonization and standardization is becoming important among regulators and business community. XBRL has entered the global stage as a financial reporting standard. Its mission was to standardize the financial reporting, lower the reporting costs and make the reporting as transparent as possible.
Objectives: The goal of the paper is to review the current usage of XBRL as a standard worldwide and to give an overview of its current state and perspectives in Croatia.
Methods/Approach: The secondary research method for examining XBRL as a standard has been applied in this work.
Results: The European Union embraced XBRL as the only standard that will be used for mandatory financial reporting and as such it is implemented in EU legislation. Croatia is a new member state and XBRL usage, which is still limited in Croatia, presents one of the country’s challenges.
Conclusions: XBRL is the new standard for financial reporting that has had its place and usage in practice for several years now. It is adopted as a mandatory reporting standard in in most countries of the world, but not without barriers.
The paper aims to point out main relevant moments in the researches concerning the service issue, containing the reserve for core developments in economics. Roots are from the literature in the last decade of the previous century, but also certain even elder and diverse more recent developments are evoked as well, by the criterion of their importance mainly for better seeing the issue of productivity, and of the interesting particular developments they got later. Apart from the service economy literature, background comes from the genuine liberalism too. The obvious realities of growing immaterial dimension of human concerns give the actual conditions that make such researches necessary, against the orthodox production and material approach. The reference value of our research is supplemented with the developments we made, including defining conceptual distinctions and suitable particularizations. Such contributions are meant to allow the relevant concerned ideas to be better seen, and to improve economics' approaches. The importance of involving such elements in economic research is conclusively underlined. Purely theoretical, the paper does not contain empirical analyses. It is useful for scholars that wish to widen the horizon of their approaches in attempts to render them topical and to improve the common/dominant economics.
Vladimir Kostić, Miloš Milutinović and Miroljub Nikolić
The textile industry is still significantly involved in production and employment in developed countries and is a major source of growth in many developing countries. As a business with a long history, the textile industry undergoes radical transformations at a global level. With the emergence of new competitors, global business conditions have changed significantly. Nevertheless, European manufacturers have remained world leaders in the production of industrial textiles and fashion clothing. Many European manufacturers resort to subcontracting or relocating capacity for labour-intensive activities in countries with lower labour costs, such as Serbia, in order to maintain competitiveness. The greatest success of the domestic textile industry was recorded in the late 1980s when it was a significant source of employment, the creation of added value and more balanced regional development. Although it is still not at the level of the 1980s, positive developments in the domestic textile industry appeared in 2016 in the direction of growth in production, employment and exports. The state seeks to accelerate the development of the textile industry through the subsidisation of foreign and domestic investors. However, growth that is primarily based on foreign direct investment is a long-term unsustainable concept. In order for growth to be sustainable, it is necessary to encourage the development of activities that produce greater added value and increase competitiveness. That is the reason why it is necessary to support the development of domestic enterprises, as well as the arrival of those foreign investments that generate multiple levels of added value.
The article assesses the impact of final demand for domestic products on the innovative activity of Polish enterprises. The activity is analysed in terms of their involvement in research and development (R&D) processes, which are considered crucial for an economy to be able to create a stock of knowledge. The main purpose of the analysis is to identify products that contribute to the largest increases in enterprises’ R&D expenditures. To study the effect of final demand on enterprises’ R&D activity, the input-output analysis method has been adopted. The presented analysis is part of author’s research on the intersectoral diffusion of knowledge in the Polish economy.