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Search results for: decision making in financial markets
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ICT, financial markets and their impact on firms’ performance and internationalisation
PublicationThe effects of information and communication technology (ICT) and financial development on growth are highly debated in the literature. Motivated by previous studies and their mixed results, in this study, we propose an analysis to re-examine the ICT-finance puzzle. We go beyond country-specific or sector-specific studies and conduct cross-country analysis with firm-level data. It enables obtaining a broad picture of the ICT-finance-growth...
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Impact of digital technologies on reliability of risk forecasting models - case study of enterprises in three global financial market regions
PublicationThis chapter focuses on the evaluation of impact of ICT on reliability of financial risk forecasting models. Presented study shows how the development of ICT can improve the effectiveness of such models. Determining a firm’s financial risk is one of the most interesting topics for investors and decision-makers. The multifaceted goal of the presented research is to separately estimate five traditional statistical and five soft computing...
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ASSESSMENT OF FINANCIAL SECURITY OF AN ENTERPRISE ON THE BASIS OF BEHAVIORAL ECONOMICS
PublicationThe article substantiates that the level of company’s financial security depends not so much on the indicators of its activity, but on its perception of decision-makers and other stakeholders. At the same time, this perception is formed due to the continuous participation of the stakeholder in operations, constant monitoring of financial indicators, the study of current approaches to enterprise management, changes in the environment,...
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Automated Valuation Model based on fuzzy and rough set theory for real estate market with insufficient source data
PublicationObjective monitoring of the real estate value is a requirement to maintain balance, increase security and minimize the risk of a crisis in the financial and economic sector of every country. The valuation of real estate is usually considered from two points of view, i.e. individual valuation and mass appraisal. It is commonly believed that Automated Valuation Models (AVM) should be devoted to mass appraisal, which requires a large...
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The preferable ways of decision-making in IT teams
PublicationSoftware development team collaboration requires various decisions regarding essential aspects of a project’s progress. General and particular decision-making models are considered, and their main aspects such as team types, problem solving categories, and decision-making ways are analyzed. The research concerns representative groups of IT specialists and their preferences in decision-making are investigated. Four possible cases were...
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Enhancing Customer Engagement in Social Media with AI – a Higher Education case study
PublicationPurpose. The study aims to demonstrate the importance of artificial intelligence (AI) and examples of tools based on it in the process of enhancing (building, measuring, and managing) customer engagement (CE) in social media in the higher education industry. CE is one of the current essential non-financial indicators of company performance in Digital Marketing strategy. The article presents a decision support system (DSS) based...
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Corporate social responsibility and forward default risk mediated by financial performance and goodwill
PublicationIn today’s business environment, corporate social responsibility (CSR) has become an increasingly significant factor for firms. This study is driven by the motivation to add to the current literature by investigating the mediating elements that explain the relationship between CSR and forward default risk. In this paper, we attempt to identify the important mediators and give a more comprehensive explanation of this connection...
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A comparative analysis of the effectiveness of corporate bankruptcy prediction models based on financial ratios: Evidence from Colombia, 2008 to 2015
PublicationLogit and discriminant analyses have been used for corporate bankruptcy prediction in several studies since the last century. In recent years there have been dozens of studies comparing the several models available, including the ones mentioned above and also probit, artificial neural networks, support vector machines, among others. For the first time for Colombia, this paper presents a comparative analysis of the effectiveness...
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Renewable and Sustainable Energy: Current State and Prospects
PublicationThe last two decades of the twentieth century represented a period of above-average, systematic growth of formal and informal interdependencies between economies of different countries and between world markets. The intensity, magnitude, and diversity of these interdependencies have never been recorded before in economic history, and the market transformations taking place have been referred to in the literature as the process...
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Introductory modeling for decision-making using AMPL
e-Learning CoursesIntroductory modeling for decision-making using AMPL
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Modeling projects for decision-making using AMPL
e-Learning CoursesModeling projects for decision-making using AMPL
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Financial Markets and Bankruptcy Systems: Is there a Relationship?
PublicationPurpose: Filling the cognitive gap in the theory of ex-post transaction costs, i.e., at the stage of enforcing market transactions by examining the relationship between friendliness/severity of the bankruptcy and restructuring law towards debtors, the level of development of financial markets, the effectiveness of the judicial system and the rate of debt recovery. Design/Methodology/Approach: In the research, the following methods...
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Effective Decision-Making in Supply Chain Management
PublicationProper decision-making in Supply Chain Management (SCM) is crucial for an appropriately functioning mechanisms. The paper presents how IT technologies can impact on an organization and process realization. Especially Service Oriented Architecture (SOA) standard and the Cloud Computing (CC) paradigms are taken into account. A general model of decision-making is proposed and based on a specific practical example is analyzed using...
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Selected problems of decision making modelling in power engineering
PublicationThe paper presents the selected problems of decision making modelling in power engineering specially investment risk evaluation methods. The proposed model can be used in the range programming the development and investing process in power engineering. Decision making problems in power engineering and the evaluation of investment effectiveness in particular are closely related to modelling which relatively accurately reflects...
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A SPC strategy for decision making in manufacturing processes
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Chemometrics and Statistics | Multicriteria Decision Making
PublicationThis contribution describes the application of Multicriteria Decision Making tools in analytical chemistry. The general scheme of MCDM is presented to show its general steps. The most frequently applied in analytical sciences MCDM techniques – AHP, ELECTRE, PROMETHEE and TOPSIS – are briefly described and their advantages and disadvantages are discussed. The applications in analytical chemistry are selection of an appropriate...
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Application of Diffusion Models in the Analysis of Financial Markets: Evidence on Exchange Traded Funds in Europe
PublicationExchange traded funds (ETFs) are financial innovations that may be considered as a part of the index financial instruments category, together with stock index derivatives. The aim of this paper is to explore the trajectories and formulates predictions regarding the spread of ETFs on the financial markets in six European countries. It demonstrates ETFs’ development trajectories with regard to stock index futures and options that...
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DECISION - MAKING IN VIRTUAL SOFTWARE TEAMS USING CLOUD PLATFORMS
PublicationSoftware development projects are usually realized by traditional or virtual IT teams using computing clouds. Team collaboration requires decision - making regarding essential aspects of a project progress. The article concerns methods of decision – making process in the case of traditional and virtual teams’ work. The research results conducted in a group of IT specialists are presented, and to analyze their preferences in decision-making...
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Experience-Driven Model of Decision-Making Processes in Project Teams
PublicationThis article presents a model of decision-making processes in project teams. Project teams constitute a specific type of organization appointed to implement a project. Decisions made by project teams result from the methods of project management and best management practices. The authors have undertaken the task of formalizing these processes using the classical method of constructing decision trees. It has been established that...
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Financial markets diffusion patterns. The case of Mexican investment funds
PublicationExchange traded funds (ETFs) are one of the most influential financial innovations, reshaping the investment funds market in many countries, including Mexico. Due to their similar investment objectives, ETFs are considered substitutes for mutual funds. The aim of the article is to provide an in-depth insight into the issues associated with the development of financial markets in Mexico...
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Decision-Making Models of the Human-Operator as an Element of the Socio-Technical Systems
PublicationThe authors of the chapter proved that the fundamental intellectual processes, which lie on the basis of decision-making behavior of the human-operator, could be identified on the bases on the analogies with the devices (elements). The basic intellectual processes of the Rational decision-making models can be adequately identified by the transient processes of the PID-controller; the intellectual processes of the Bounded Rationality...
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Interactive Decision Making, Environmental Engineering, 2022/2023 (summer semester)
e-Learning CoursesThe course is designed for students of MSc Studies in Environmental Engineering Person responsible for the subject, carrying out lectures and tutorials: mgr inż. Agata.Siemaszko; agata.siemaszko@pg.edu.pl The person conducting the lectures and tutorials: dr inż. Anna Jakubczyk-Gałczyńska; anna.jakubczyk@pg.edu.pl The course provides students with knowledge on development and application of statisticalstrategic approach to decision...
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Decision Making in Manufacturing and Services
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International financial markets AGIIENG
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Decision making techniques for electronic communication: an example for Turkey
PublicationCommunication is the way for people exchanging information with each other by using various tools. Electronic communication or Ecommunication is the process of sending, receiving and processing information or messages electronically. Electronic communication that is closely related to the development levels of countries, has made considerable progress especially in terms technology, innovation and entrepreneur. In this study, it...
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Virtual Engineering Objects: Effective Way of Knowledge Representation and Decision Making
PublicationThis paper presents a knowledge representation case study by constructing Decisional DNA of engineering objects. Decisional DNA, as a knowledge representation structure not only offers great possibilities on gathering explicit knowledge of formal decision events but also it is a powerful tool for decision-making process. The concept of Virtual engineering Object (VEO), which is a knowledge and experience representation of engineering...
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Method of Decision-Making Logic Discovery in the Business Process Textual Data
PublicationGrowing amount of complexity and enterprise data creates a need for novel business process (BP) analysis methods to assess the process optimization opportunities. This paper proposes a method of BP analysis while extracting the knowledge about Decision-Making Logic (DML) in a form of taxonomy. In this taxonomy, researchers consider the routine, semi-cognitive and cognitive DML levels as functions of BP conceptual aspects of Resources,...
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The Conception of Decision-Making Support System for ComplexEnergetic System on Example of Ship Propulsion System
PublicationIn paper, the conception of decision-making support system for complex energetic system on example of ship propulsion system has been presented. Diversity of conditions, information overload and very often contradiction of decision-making criteria and time constraints result in difficulties in making right (rational) decision without using more or less expanded information processing systems (eg. database systems, expert systems,...
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Multi-criterion, evolutionary and quantum decision making in complex systems
PublicationMulti-criterion, evolutionary and quantum decision making supported by the Adaptive Quantum-based Multi-criterion Evolutionary Algorithm (AQMEA) has been considered for distributed complex systems. AQMEA had been developed to the task assignment problem, and then it has been applied to underwater vehicle planning as another benchmark three-criterion optimization problem. For evaluation of a vehicle trajectory three criteria have...
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Autonomous Driver Based on an Intelligent System of Decision-Making
PublicationThe paper presents and discusses a system (xDriver) which uses an Intelligent System of Decision-making (ISD) for the task of car driving. The principal subject is the implementation, simulation and testing of the ISD system described earlier in our publications for the task of autonomous driving. The design of the whole ISD system is a result of a thorough modelling of human psychology based on an extensive literature study. Concepts...
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An Intelligent Decision-Making System for Autonomous Units Based on the Mind Model
PublicationThis article presents a specific part of current trends in autonomous robotics. It pays special attention to the basic aspects of cognitive architecture. After a brief introduction, we shortly describe the Intelligent System of Decision-making developed at the Gdansk University of Technology.
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Acceleration of decision making in sound event recognition employing supercomputing cluster
PublicationParallel processing of audio data streams is introduced to shorten the decision making time in hazardous sound event recognition. A supercomputing cluster environment with a framework dedicated to processing multimedia data streams in real time is used. The sound event recognition algorithms employed are based on detecting foreground events, calculating their features in short time frames, and classifying the events with Support...
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Cognitive memory for intelligent systems of decision-making, based on human psychology
PublicationA model of memory, which allows to expand the functionality of autonomous decision-making systems for robotic and human-system-interface purposes, is discussed. The model provides functions and features which make the prospective robotic and interfacing systems more human-like as well as more efficient in solving interactive issues.
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Cognitive memory for intelligent systems of decision-making, based on human psychology
PublicationA model of memory, which allows to expand the functionality of autonomous decision-making systems for robotic and human-system-interface purposes, is discussed. The model provides functions and features which make the prospective robotic and interfacing systems more human-like as well as more efficient in solving interactive issues.
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Exchange-Traded Funds on European Markets: Has Critical Mass been Reached? Implications for Financial Systems.
PublicationExchange-traded funds (ETFs) are one of the most rapidly expanding categories of financial products in Europe. One of the key yet still unanswered questions is whether European ETF markets have reached the size at which they could affect the financial systems. In our study, we examine 13 European countries during the period 2004–2017 in order to trace whether the share of ETFs in the total assets of investment funds has reached...
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Decision making process using deep learning
PublicationEndüstri 4.0, dördüncü endüstri devrimi veya Endüstriyel Nesnelerin İnterneti (IIoT) olarak adlandırılan sanayi akımı, işletmelere, daha verimli, daha büyük bir esneklikle, daha güvenli ve daha çevre dostu bir şekilde üretim yapma imkanı sunmaktadır. Nesnelerin İnterneti ile bağlantılı yeni teknoloji ve hizmetler birçok endüstriyel uygulamada devrim niteliği taşımaktadır. Fabrikalardaki otomasyon, tahminleyici bakım (PdM – Predictive...
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Medical decision making in hypertension
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Stream Reasoning to Improve Decision-Making in Cognitive Systems
PublicationABSTRACT Cognitive Vision Systems have gained a lot of interest from industry and academia recently, due to their potential to revolutionize human life as they are designed to work under complex scenes, adapting to a range of unforeseen situations, changing accordingly to new scenarios and exhibiting prospective behavior. The combination of these properties aims to mimic the human capabilities and create more intelligent and efficient...
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Multi-criterion decision making in distributed systems by quantum evolutionary algorithms
PublicationDecision making by the AQMEA (Adaptive Quantum-based Multi-criterion Evolutionary Algorithm) has been considered for distributed computer systems. AQMEA has been extended by a chromosome representation with the registry of the smallest units of quantum information. Evolutionary computing with Q-bit chromosomes has been proofed to characterize by the enhanced population diversity than other representations, since individuals represent...
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Analysis of the Multiple Attribute Decision Making Problem with Incomplete Information about Preferences among the Criteria
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Cognitive motivations and foundations for building intelligent decision-making systems
PublicationConcepts based on psychology fit well with current research trends related to robotics and artificial intelligence. Biology-inspired cognitive architectures are extremely useful in building agents and robots, and this is one of the most important challenges of modern science. Therefore, the widely viewed and far-reaching goal of systems research and engineering is virtual agents and autonomous robots that mimic human behavior in...
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Psychological aspects of assessment and decision making
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Learning and memory processes in autonomous agents using an intelligent system of decision-making
PublicationThis paper analyzes functions and structures of the memory that is an indispensable part of an Intelligent System of Decision-making (ISD), developed as a universal engine for autonomous robotics. A simplified way of processing and coding information in human cognitive processes is modelled and adopted for the use in autonomous systems. Based on such a knowledge structure, an artificial model of reality representation and a model...
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Learning and memory processes in autonomous agents using an intelligent system of decision-making
PublicationThis paper analyzes functions and structures of the memory that is an indispensable part of an Intelligent System of Decision-making (ISD), developed as a universal engine for autonomous robotics. A simplified way of processing and coding information in human cognitive processes is modelled and adopted for the use in autonomous systems. Based on such a knowledge structure, an artificial model of reality representation and a model...
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Interactive Decision Making, Inżynieria Środowiska, Environmental Engineering, 2023/2024 (summer semester)
e-Learning CoursesThe course is designed for students of MSc Studies in Environmental Engineering (studies in Polish and English) Person responsible for the subject, carrying out lectures and tutorials: mgr inż. Agata.Siemaszko; agata.siemaszko@pg.edu.pl The person conducting the lectures and tutorials: dr inż. Anna Jakubczyk-Gałczyńska; anna.jakubczyk@pg.edu.pl The course is conducted using the Project-Based Learning (PBL) method. It provides...
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Judgment and Decision Making
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Knowledge Management for Managing Crisis in Tourism: Theoretical insights
PublicationCOVID-19 has caused an unprecedented crisis affecting the entire tourism industry. Accommodation, food, and travel sectors have been affected by the decreased number of visitors, which had a ripple effect on the financial situation of the whole industry. The purpose of this work is a better understanding of the role of knowledge management in terms of mitigating the crisis in the tourism sector, as well as a development of the...
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Patterns of Ethical Behaviour and Decision Making.
PublicationW pracy przedstawiono propozycję wykorzystania wzorców programowych do opracowania wzorców etycznych, mających na celu wspomaganie prowadzącego projekt informatyczny w podejmowaniu decyzji. Ideę zilustrowano dwoma przykładami.
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The forecasts-based instrument rule and decision making. How closely interlinked? The case of Sweden
PublicationResearch background: The Central Bank of Sweden declared in years 1999–2006 the implementation of the Svensson’s concept of inflation forecast targeting (IFT). It means that the repo rate decision-making process depends on the inflation forecasts. The concept evolved from the strict IFT with the decision-making algorithm called ‘the rule of thumb’ to the flexible IFT. Purpose of the article: The aim of...
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A decision-making system supporting selection of commanded outputs for a ship's propulsion system with a controllable pitch propeller
PublicationThe ship's operators have to make decisions regarding the values of commanded outputs (commanded engine speed and pitch ratio) which ensure maximum vessel speed and minimum fuel consumption. Obviously, the presented decision problems are opposed. Therefore, there is a need for a compromise solution that enables more flexible vessel voyage planning. This paper deals with development of a computer-aided system supporting selection...