Buy The Rumor, Sell The News! What About Takeover Rumors?

This paper attempts to quantify the short-term impact of takeover rumors on target stock prices. The study was conducted on the French stock market between 1997 and 2011 and concerns 200 rumors that appeared in the media (news agencies, newspapers, and Web sites). Our results show that this particular kind of information has a significant impact on the prices of target companies around and after the date of rumor appearance. The best performance of target shares is observed 50 days after the dissemination of the rumors in the media, with an average return of 4%. This performance is mainly explained by three components:  credibility, rumor characteristics, and the anticipated effects of the takeover bid.

The role of CSR perception in consumer behaviour : the influence of perceived value in Saudi banking industry

Corporate Social Responsibility (CSR) has received increasing attention and is thought to have a significant impact on consumer behaviour. Many businesses consider this an important factor in maintaining strong relationships with their customers. A considerable amount of attention has been given to the perception of CSR, but a number of theoretical gaps have been identified for further research. First, previous studies of CSR either explored the perception of CSR or examined the limited aspects of CSR on consumer behaviour, so there is a theoretical gap in examining the full construct of CSR on consumer behaviour. Second, the perceived value of CSR has been implicitly assumed and, therefore, neglected in previous studies. Third, only a limited number of studies have measured consumers’ CSR awareness levels before investigating consumers’ perceptions of CSR. Fourth, the majority of CSR studies examined the concept within the manufacturing industry, while studies in service industries are scant. Fifth, the majority of CSR studies examined the concept within developed countries, so there is a lack of research investigating this perception in developing countries.This study investigated the CSR perception of socially responsible banks in Saudi Arabia and examined how this influences customer loyalty; examined the perceived value of CSR and its influence on customer loyalty; and then analysed customer CSR awareness levels and how this impacted customer support or scepticism. The dyadic nature of this study advances CSR knowledge by investigating CSR from the perspectives of both banks and customers. A mixed method approach was adapted to gather the required data. First, the CSR managers in Saudi Arabian banks were interviewed to understand their perceptions of CSR and the motives and challenges they face, and to identify the constructs necessary to examine the influence of CSR on consumer loyalty. A thematic analysis technique was employed to achieve these goals. The identified constructs included customer expectations, awareness, support, and satisfaction. The perceived value was added to these constructs because of the contradictory findings among these relationships and a lack of studies that fully examined the perceived value of CSR. Second, an online survey was conducted to examine the proposed hypotheses, and this generated a total of 418 responses. The online survey was distributed by three large databases: CSR in Saudi Arabia, Saudi Banks customers, and Saudi Abroad. The link was sent through their Facebook accounts, Twitter accounts, and email databases. An SEM-PLS technique was employed to analyse the data, and the findings were classified into three groups: descriptive, casual, and structural. The findings of this study confirmed that Saudi CSR perceptions follow Carroll’s (1979) model. It also found that Islam has an influence on the understanding of CSR. The structural analysis showed that CSR consists of two dimensions: economic and non-economic responsibilities (legal and ethical). It also showed that customers have a low level of CSR awareness, but they are willing to support responsible businesses. It also demonstrated that customers are generally neutral about dealing with socially responsible businesses, and the only value they perceive is emotional.Two frameworks were generated from this study. First, based on the qualitative research, a presentation of banks’ CSR perceptions was developed. This framework has advanced the body of knowledge in a number of ways: it describes structural levels and relationships between the CSR domains; it identifies the key themes used to analyse CSR; it reports the complexity of CSR; it provides a blueprint for understanding how perception emerge and the implications of these new perceptions; and it draws the findings together in a holistic view. Second, based on an extensive review of literature and the extracted constructs from the qualitative study, a new conceptual model was developed. This model is one of the first to examine CSR perceptions, starting from awareness and ending with loyalty. Previous models have not explained the relationships between CSR perceptions and expectations. This study also investigated the full construct of the perceived value, which had not been investigated before. Finally, this model responded to the calls to investigate customer awareness and their support towards responsible businesses in the same context.This study contributes to our understanding of the perception of CSR by examining the perceived value of CSR. It also contributes to the methodology by employing a mixed method research and adopting the pragmatic approach, which has not been widely used in examining CSR perceptions. The dyadic nature of this study allows the researcher to investigate the phenomenon from two different perspectives. This study is one of a few studies to employ the SEM PLS to examine the structural nature of CSR and the construct of perceived value. Finally, it provides insights for policymakers and CSR managers to better embed CSR in the Saudi banking industry

Cross Layered Network Condition Aware Mobile-Wireless Multimedia Sensor Network Routing Protocol for Mission Critical Communication

The high pace emergence in wireless technologies have given rise to an immense demand towards Quality of Service (QoS) aware multimedia data transmission over mobile wireless multimedia sensor network (WMSN). Ensuring reliable communication over WMSN while fulfilling timely and optimal packet delivery over WMSN can be of great significance for emerging IoT ecosystem. With these motivations, in this paper a highly robust and efficient cross layered routing protocol named network condition aware mobile-WMSN routing protocol (NCAM-RP) has been developed. NCAM-RP introduces a proactive neighbour table management, congestion awareness, packet velocity estimation, dynamic link quality estimation (DLQE), and deadline sensitive service differentiation based multimedia traffic prioritization, and multi-constraints based best forwarding node selection mechanisms. These optimization measures have been applied on network layer, MAC layer and the physical layer of the protocol stack that eventually strengthen NCAM-RP to enable QoS-aware multimedia data transmission over WMSNs. The proposed NCAM-RP protocol intends to optimize real time mission critical (even driven) multimedia data (RTMD) transmission while ensuring best feasible resource allocation to the non-real time (NRT) data traffic over WMSNs. NCAM-RP has outperform RPAR based routing scheme in terms of higher data delivery, lower packet drops and deadline miss ratio. It signifies that NCAM-RP can ensure minimal retransmission that eventually can reduce energy consumption, delay and computational overheads. Being the mobility based WMSN protocol, NCAM-RP can play significant role in IoT ecosystem

The Impact of Applying Quality Standards on the Internal Operations in the Public Sector in the Sultanate of Oman

Purpose:  The aim of this study is to identify the impact of applying quality standards on the internal operations efficiency in public sector institutions in the Sultanate of Oman along with measuring the effectiveness and efficiency of operations after applying quality standards.   Theoretical framework: This study focuses on the definition of quality and its history, quality standards, its types, rational behind their application, continuous improvement methodology which is Deming cycle (plan, Do, check, Act), and defining internal processes and their dimensions.   Design/Methodology/Approach: To achieve the objective of this study , the questionnaire was used as a main tool for data collection. Questionnaires were distributed to a simple random sample of 115; 107, questionnaires were retrieved and (102) were suitable for analysis. The data was then analyzed using a variety of statistical techniques (arithmetic means and standard deviations, multiple linear regression analysis using the stepwise method, and Cronbach alpha for stability).   Findings: The main findings in this study was identifies that prove there is a gap between quality standereds applications in planning of operations, readiness, and outputs.   Research /Practical /Social Implications: This study is significant since it focuses on the influence of applying quality standards in terms of results and effect, specifically on processes and whether there is continuous process improvement. In social indicator it is impacting individuals satisfactions specially when speaking about the customers experience. Moreover, in enconmoical indocators it is indicates improvement of the institutional performance.   Originality/ Value: This study is distinguished from previous studies in that it focuses on the impact of applying quality standards in terms of results and effect, specifically on processes. Moreover, this study specially build based on Oman experience.

Dynamic Network State Learning Model for Mobility Based WMSN Routing Protocol

The rising demand of wireless multimedia sensor networks (WMSNs) has motivated academia-industries to develop energy efficient, Quality of Service (QoS) and delay sensitive communication systems to meet major real-world demands like multimedia broadcast, security and surveillance systems, intelligent transport system, etc. Typically, energy efficiency, QoS and delay sensitive transmission are the inevitable requirements of WMSNs. Majority of the existing approaches either use physical layer or system level schemes that individually can’t assure optimal transmission decision to meet the demand. The cumulative efficiency of physical layer power control, adaptive modulation and coding and system level dynamic power management (DPM) are found significant to achieve these demands. With this motivation, in this paper a unified model is derived using enhanced reinforcement learning and stochastic optimization method. Exploiting physical as well as system level network state information, our proposed dynamic network state learning model (NSLM) applies stochastic optimization to learn network state-activity that derives an optimal DPM policy and PHY switching scheduling. NSLM applies known as well as unknown network state variables to derive transmission and PHY switching policy, where it considers DPM as constrained Markov decision process (MDP) problem. Here,the use of Hidden Markov Model and Lagrangian relaxation has made NSLM convergence swift that assures delay-sensitive, QoS enriched, and bandwidth and energy efficient transmission for WMSN under uncertain network conditions. Our proposed NSLM DPM model has outperformed traditional Q-Learning based DPM in terms of buffer cost, holding cost, overflow, energy consumption and bandwidth utilization

An Investigation Of The Relation Between Corporate Governance And Liquidity: Empirical Evidence From France

This study investigates the impact of corporate governance effectiveness on the market stock liquidity. It is innovative, since we study, on an order driven market, the global effect of corporate governance and the effect of specific governance sub-indexes. Drawing on a sample of 287 French firms from 2007 to 2012, we find that corporate governance is a significant determinant of stock liquidity. Indeed, companies with an effective corporate governance have a narrower spreads. That’s mean that corporate governance may alleviate information asymmetry and improve the market stock liquidity of French companies. Our results are remarkably robust to other set of measures of liquidity as the effective spread measure and illiquidity ratio. These results suggest that firms may improve stock market liquidity by adopting best practices of corporate governance that mitigate informational asymmetries

Dampak Kelangkaan Pupuk Bersubsidi Terhadap Produksi dan Pendapatan Petani Padi Sawah di Desa Waimital, Kecamatan Kairatu, Kabupaten Seram Bagian Barat

Penelitian ini bertujuan untuk mengetahui dampak kelangkaan pupuk bersubsidi terhadap produksi dan pendapatan petani padi sawah di Desa Waimital, Kecamatan Kairatu, Kabupaten Seram Bagian Barat. Dengan menggunakan metode deskriptif dan kuantitatif  dan menggunakan analisis uji paired sample test. Hasil penelitian menunjukan adanya kelangkaan pupuk bersubsidi yang berdampak pada produksi dan pendapatan petani padi sawah di tempat penelitian. Penyebab kelangkaan pupuk bersubsidi yang terjadi karena adanya ketidaksesuaian antara permintaan/usulan terhadap pupuk bersubsidi dengan realisasi dari pemerintah, akibat kelangkaan pupuk bersubsidi petani rela membeli pupuk nonsubsidi yang harganya sangat mahal guna memenuhi kebutuhan pupuk mereka. Hal ini menyebabkan produksi menurun dari rata-rata 1.567 kg/musim tanam sebelum kelangkaan pupuk bersubsidi menjadi rata-rata 1.527 kg/musim tanam selama kelangkaan pupuk bersubsidi

Statistical optimization of supercapacitor pilot plant manufacturing and process scale-up

In recent years, electrical double layer capacitor (EDLCs) has become one of the most popular energy storage devices. This can be attributed to its high capacity, long life cycle and fast charge/discharge rates. However, it has some drawbacks – mainly it stores less amount of energy than batteries. Hence, there is a need to optimize the EDLC to increase its capacity and decrease its equivalent series resistance (ESR), resulting in a supercapacitor that is able to charge quickly and will hold a large amount of energy for a long time. This thesis presents a design, build and setup process of a supercapacitor pilot plant in the University of Nottingham Malaysia Campus for manufacturing and optimization of EDLCs. Two packages were considered, cylindrical and coin type packages. In addition, the design of a manufacturing process flow, with details on steps for fabrication, which will meet specific standards (BS EN 62391-1:2006, BS EN 62391-2-1: 2006, BS EN 62391-2-1: 2006 and DOD-C-29501/3 NOT 1) for quality and throughput for both the packaging types is discussed. Following this, significant factors of the fabrication process were identified and optimized by adopting the Taguchi design of experiment (DOE) methodology. Results of the optimization process show that the most significant factors that affect the EDLC capacitance are PVDF % (polyvinylidene diflouride) and mixing time; the optimum values are determined to be 5% and 3 hours respectively. In the case of ESR optimization, the most significant factors are PVDF % and carbon black %. The optimum values are 5% for both. Using these optimized values, a final prototype EDLC was fabricated. The capacitance value obtained for the cell was 54.70mF. The final EDLC prototypes were tested according to the international standards (ISO) and compared with the supercapacitors available in the market. Results indicated that the electrochemical performance of the prototypes has a good resemblance to the performance of the supercapacitors available in the market. A selected prototype samples were sent for benchmark testing to companies in mobile applications in Korea and the Netherlands to confirm that the prototypes meet the required standards. Finally the research work sets the basis for integrating genetic algorithms with the Taguchi technique for future research in improving the optimization process for robust EDLC fabrication

Predicting customers' online word of mouth intention: The theory of planned behavior applied to understand youth Saudi social media behaviors

Word of mouth (WOM) is the oldest, yet still a very common form of marketing. Over the years, it has undergone under significant transformation as a result of the changing business strategies and rapid improvement in technology. Today, WOM has gained traction as a very effective and economic form of advertisement. With the increase in the use of internet technology and use of social media for marketing, online word of mouth (OWoM) is significantly changing the sphere. Today, many marketers prefer to use OWoM through platforms like Facebook, Twitter, and Instagram for marketing their products. However, consumer’s behaviors and attitudes are found to strongly influence OWoM. Using the Theory of Planned Behavior, the study explored the factors that predict the use of the OWoM marketing among youths in the Kingdom of Saudi Arabia. Data were collected from 440 samples using structured questionnaires and analyzed using PLS-SEM. The results have succeeded in showing the complex relationship between attitude, behavioral control and subjective norms; the underlying beliefs, and the intention towards the OWoM