scholarly journals Strategic Alliance for Vietnam Domestic Real Estate Companies Using a Hybrid Approach Combining GM (1,1) with Super SBM DEA

2020 ◽  
Vol 12 (5) ◽  
pp. 1891 ◽  
Author(s):  
Chia-Nan Wang ◽  
Hsien-Pin Hsu ◽  
Jing-Wein Wang ◽  
Yang-Chin Kao ◽  
Thi-Phuong Nguyen
Keyword(s):  
Strategic Alliance ◽  
Hybrid Approach ◽  
Joint Stock Company ◽  
Grey Theory ◽  
Data Envelopment ◽  
Infrastructure Development ◽  
Stock Company ◽  
Time Period ◽  
Target Company ◽  
The Right

The high economic development in Vietnam contributes much momentum to boost the estate industry in this country. However, competition in this market is also increased. To survive better in this industry, the estate companies in the Vietnam estate industry can apply strategic alliance which, however, depends heavily on forming the right partnership. For this purpose, a hybrid approach combining Grey Theory with Data Envelopment Analysis (DEA) has been proposed in this research to assess and predict the performance of some Vietnamese estate companies, in addition to helping to form the right partnership. For empirical study, 16 companies in the Vietnam estate industry have been selected as Decision Making Units (DMUs). After collecting these DMUs’ historical data in the time period 2012-2017, the grey model GM (1,1) was first used to forecast the performance of these DMUs in 2018-2020. Then, the slacks-based measure (SBM) super efficiency (super SBM) model was used to assess their performance. To initiate partnerships, Becamex Infrastructure Development Joint Stock Company (IJC) has been selected as a target company and it can develop 15 different strategic alliance scenarios. The experimental results show that only some of the scenarios are beneficial. Thus, prudence is a necessity when using strategic alliance.

scholarly journals A Study of the Strategic Alliance for EMS Industry: The Application of a Hybrid DEA and GM (1, 1) Approach

2015 ◽  
Vol 2015 ◽  
pp. 1-14 ◽  
Author(s):  
Chia Nan Wang ◽  
Nhu Ty Nguyen ◽  
Thanh Tuyen Tran ◽  
Bui Bich Huong
Keyword(s):  
Strategic Alliances ◽  
Manufacturing Industry ◽  
Strategic Alliance ◽  
Critical Factor ◽  
Data Envelopment ◽  
Electronic Manufacturing ◽  
Target Company ◽  
Alliance Partners ◽  
The Right ◽  
Realistic Data

Choosing a partner is a critical factor for success in international strategic alliances, although criteria for partner selection vary between developed and transitional markets. This study aims to develop effective methods to assist enterprise to measure the firms’ operation efficiency, find out the candidate priority under several different inputs and outputs, and forecast the values of those variables in the future. The methodologies are constructed by the concepts of Data Envelopment Analysis (DEA) and grey model (GM). Realistic data in four consecutive years (2009–2012) a total of 20 companies of the Electronic Manufacturing Service (EMS) industry that went public are completely collected. This paper tries to help target company—DMU1—to find the right alliance partners. By our proposed approach, the results show the priority in the recent years. The research study is hopefully of interest to managers who are in manufacturing industry in general and EMS enterprises in particular.

scholarly journals Performance Evaluation of Major Asian Airline Companies Using DEA Window Model and Grey Theory

2019 ◽  
Vol 11 (9) ◽  
pp. 2701 ◽  
Author(s):  
Chia-Nan Wang ◽  
Tsang-Ta Tsai ◽  
Hsien-Pin Hsu ◽  
Le-Hoang Nguyen
Keyword(s):  
Hybrid Approach ◽  
High Growth ◽  
High Growth Rate ◽  
Aviation Industry ◽  
Grey Theory ◽  
Sri Lankan ◽  
Data Envelopment ◽  
Future Performance ◽  
Time Period ◽  
Global Transport

Being an essential part of the global transport system, airline transportation is capable of delivering fast service for passengers and commodities. In the past decade, the Asia aviation industry has experienced a high growth rate of transport due to higher economic development in this area, and this trend is expected to continue in the next two decades. However, competition in the Asia aviation industry will increase dramatically. To survive in the Asia aviation industry, the Asia airline companies should understand their current and future performance. A methodology for this purpose is required. This paper proposes a hybrid approach, combining Grey model GM(1,1) and Data Envelopment Analysis (DEA) Window model, to satisfy this need. The hybrid approach proposed in this research has been used to evaluate the current and future performance of 16 major Asia airline companies. The DEA Window analysis showed that airline companies Emirates, Cebu Pacific, and Sri Lankan were leading companies in the time period of 2012 to 2016, while Singapore Airlines, Japan Airlines, and All Nippon Airways followed behind. We found that Chinese airline corporations are rising in the Asia aviation industry. All 16 Asia airline companies studied in the research were found to improve their productivity in the time period of 2017 to 2021 as their Malmquist productivity indexes (MPIs) are greater than 1.

scholarly journals Usage of two-stage Integrating Data Envelopment Analysis to Propose the Best Strategic Alliance: A Case of the Green Logistics Providers

2020 ◽  
pp. 374-388
Author(s):  
Nhu-Ty Nguyen
Keyword(s):  
Neural Network ◽  
Data Envelopment Analysis ◽  
Strategic Alliances ◽  
Strategic Alliance ◽  
Academic Research ◽  
Grey Theory ◽  
Data Envelopment ◽  
Green Logistics ◽  
Practical Applications ◽  
Target Company

In the wave of internationalization, many companies use strategic alliance like an approach to expand and strengthen their businesses. Strategic alliance is also considered to be a highly intelligent approach in green logistics for environment and e-commerce growing quickly and effectively because this is the critical concern worldwide to balance the economic development with the environmental protection. However, a suitable methodology to evaluate and analyze performance of partners is a critical and significant issue for top managers to have effective decisions making for business strategy including alliance strategy in the future. This will improve business performance and reduce carbon dioxide (CO2) emissions among the hot trend of development of green logistics providers. Over past to future forecasting, this paper tries to propose a new approach of data envelopment analysis (DEA) based on grey forecasting and neural network, helping the target company – CSX Corporation make a well-considered decision to select the best strategic alliance candidates. The results indicate that Hub Group Inc. and Con-way Freight are the very best candidates for CSX to have strategic alliances. This combination is suggested not only good for the target company but also beneficial for the partners as well. This is a new studying method in both academic research studies and practical applications by combining Grey theory, neural network and DEA model which probably gives a better “past-present-future” insights into evaluation performance of an industry.

scholarly journals MODELING OF PRIMARY ISSUES OF SHARES OF A JOINT STOCK COMPANY

2020 ◽  
Vol 1 (5) ◽  
pp. 40-44
Author(s):  
V.I. Demensky ◽  
◽  
A.B. Usov ◽  
Keyword(s):  
Stock Exchange ◽  
Subsequent Development ◽  
Simulation Method ◽  
Fixed Number ◽  
Share Price ◽  
Joint Stock Company ◽  
Stock Company ◽  
Current Time ◽  
Time Period ◽  
Total Turnover

At present, in contrast to lending and investment services, models for raising additional capital for a company by issuing shares and then placing them on the securities market are becoming more popular. This article discusses the model of issuing shares for a joint-stock company (JSC) and the subsequent purchase of their traders. The model has a two-level hierarchical structure, where the leading party is the JSC, and the lead, in turn, is the shareholders. The company determines the number of shares and their issue price. Depending on the total capitalization of the company and the nominal share price, the company’s revaluation coefficient (P/BV) is formed. This coefficient affects the General mood of shareholders in the market, who use the sale or purchase of shares to change the total capitalization of the company. The price for the current time period consists of the algebraic sum of the price for the previous time period and the total capitalization, thus, through changes in the total turnover of funds, shareholders are able to influence the share price. The main income for a shareholder is the difference between the purchase and sale of shares, as well as the payment of its dividends. For the company, the task is to maximize profits by buying shares on the stock exchange, as well as minimize losses when selling them. After describing the target functions and applying the simulation method, the optimal issue price for a fixed number of shares was found for the company. Unfortunately, the market does not lend itself to accurate forecasts due to the large influence of the human factor. Very often, shareholders can act against the rational and most profitable strategy. Despite this, this model will help to approximate the behavior of players in the stock market in subsequent development, thereby facilitating the study of price movements on the stock exchange.

scholarly journals Shareholders’ Lawsuit in Georgian Legislation and Case Law

2021 ◽  
Vol 17 (20) ◽  
pp. 1
Author(s):  
Khatuna Jinoria
Keyword(s):  
Case Law ◽  
Joint Stock Company ◽  
Legal Institution ◽  
Minority Shareholders ◽  
Stock Company ◽  
Legal Nature ◽  
The Right ◽  
Legal Mechanism

Obtaining shares in a joint stock company grants the owner important rights and imposes several obligations on them. In the list of shareholders’ rights, one of the most important subjects is the right to sue the shareholder’s lawsuit. The right to bring in front of courts certain aspects of company-related activities is the legal mechanism of protecting the shareholders other rights. Shareholders’ lawsuit plays an important role in the protection of minority shareholders. Shareholders’ lawsuit also includes two types of legal actions: direct lawsuit and derivative lawsuit. Georgian case law is not very advanced in this area. When shareholders bring matters in front of courts, the number of precedents adhered to is rare. As for the derivative lawsuit, the relative novelty of this legal institution in Georgian legislation causes the lack of deeper understanding. Georgian doctrine does not provide thorough analysis of legal nature and divergence of shareholders’ lawsuits when it comes to case law. As mentioned above, it is quite scarce.

scholarly journals Exemption of a joint stock company from the obligation to provide information to a shareholder.

2020 ◽  
Vol 4 (3) ◽  
pp. 103-122
Author(s):  
Andrey V. Gabov
Keyword(s):  
Information Exchange ◽  
Legal Regulation ◽  
Joint Stock Company ◽  
Federal Law ◽  
Stock Company ◽  
Research Issues ◽  
The Law ◽  
Right To Information ◽  
The Right ◽  
To Receive

The subject of research. Issues concerning the exercise of the right of shareholders to receive information are analyzed. The focus is on the issues of exemption of a joint-stock company from providing information. The development of the institute of the information provision to shareholders by joint stock companies are consistently analyzed. The main trends in the development of this institute are shown: gradually narrowing the ability of shareholders to exercise their right to receive information through such means as restriction, differentiation and exemption from providing information. Special emphasis is placed on the institute of exemption from providing information. The purpose of the article is to show the main drawbacks of the existing model of exemption of a joint-stock company from the obligation to provide information to shareholders and to formulate directions for the development of legislation. The author's main scientific hypothesis can be summarized as follows. The Federal law «On joint-stock companies» contained an initial defect in the description of information exchange between a shareholder and a joint-stock company. The shareholder's right to information was not described, in fact, it was «embedded» in the obligation of the joint-stock company to provide information. The subsequent changes to the law resulted in a narrowing of the rights of the shareholder, practically depriving the minority shareholder of the right to information. This defect has led to significant legal uncertainty when the joint-stock company exercises its right to be exempt from providing information. This uncertainty should be eliminated, because the regulatory goals for granting joint-stock companies an exemption from the obligation to provide information to shareholders (article 92.2 of the Federal law «On joint-stock companies» that counters sanctions pressure) are absolutely correct. At the same time, some of the grounds for exemption from the obligation to provide information to shareholders (article 92.1 of the Federal law «On joint-stock companies») must either be excluded or reformulated. The author notes the complete «break» between the current regulation and the ideas about information exchange between a shareholder and a joint-stock company, that initially inspired the creation of the law on joint-stock companies. The inclusion of sanctions in the law on joint - stock companies as a factor affecting the performance by a joint-stock company of its obligation to provide information to shareholders should be fully welcomed. However, the legal and technical design of the corresponding political and legal idea cannot be considered optimal. In this part, the legislation requires a complete renovation based on the principle of balancing constitutional values and the interests of the state, majority and minority shareholders. Description of research methodology. The research is based on a systematic analysis, as well as the interpretation of Russian legislation and doctrine. Information about the main scientific results. The development of legislation on joint-stock companies in terms of providing information is shown. It is shown that if legislator taking into account sanctions when regulating the obligation of a joint-stock company to provide information, the goals of legislative regulation fully comply with constitutional principles, but specific legal decisions cannot be considered optimal. Conclusions. It is concluded that development of legislation on joint-stock companies has led to a significant restriction of the ability of shareholders to receive information. The author formulated the priority of regulatory goals in countering sanctions pressure and offered specific directions for improving legal regulation.

scholarly journals THE ROLE OF DATA IN THE VALUATION OF AN ENTERPRISE - THE COST OF EQUITY

2020 ◽  
Vol 49 (49) ◽  
Author(s):  
Edyta Piątek
Keyword(s):  
Research Problem ◽  
Cash Flows ◽  
Joint Stock Company ◽  
Cost Of Equity ◽  
Stock Company ◽  
Enterprise Valuation ◽  
Valuation Method ◽  
Valuation Process ◽  
The Right ◽  
The Cost

The valuation of a company is a complex process and requires comprehensive knowledge. The decisions made at each stage have consequences for the next step. The first fundamental stage is to choose the standard of value that the valuer wants to determine. Only then is the appropriate valuation method selected. One of the further factors influencing the outcome of the valuation process is the cost of equity, which takes into account important parameters of the company's operation. It is the cost of equity that causes the most controversy and dilemmas. The research problem analyzed in the article is a way of calculating the cost of equity in enterprise valuation. The example of a specific valuation indicates that the cost of capital cannot be a parameter (data item) covering all risks, but only those that cannot be programmed in cash flows. In the course of research works, the valuation of enterprise B organized in the form of a general partnership as of 29.08.2014 in connection with its contribution by the shareholders to the joint-stock company A as an in-kind contribution increasing the capital was performed. Due to the fact that there is a minority shareholder in joint-stock company A, there is a dilemma of choosing the right value and valuation method and the method of calculating the cost of equity. Neither the literature on the subject in this respect, nor the parties to the transaction, indicate a clear solution, especially as regards the value of the cost of equity.

Annulment of Assembly Joint Stock Company Decisions - Theory, Legislation and Practice in the Republic of Kosovo

2015 ◽  
Vol 4 (1) ◽  
pp. 106
Author(s):  
Kemajl Ademaj
Keyword(s):  
General Theory ◽  
Legal Order ◽  
Judicial System ◽  
Joint Stock Company ◽  
Anglo Saxon ◽  
Stock Company ◽  
The Future ◽  
The Republic ◽  
The Right

The aim of this thesis is, treatment and give the response in question if the assembly of Joint Stock Company is obliged, to issue decisions in accordance with public moral, legal order, law and entrance regulation of Joint Stock Company. To give response in such questions, will be treated general theory aspects regarding notion of invalid decisions and causes that makes such decision invalid. Will be treated effects of invalidity or invalidation of decisions. We will try to found if is existed in the right of JSC in Republic of Kosovo, a solid theory, legal and practical base, initially for classification and than for annulment of assembly JSC decisions of the invalid character. We will try to show which are the basis from which in the judicial system continental and Anglo-Saxon states, are flow obligations to announce as invalid decisions of assembly of JSC. Will shows the consequences of invalid announcement of assembly of JSC decisions and especially will be treated claim for annulment of mentioned decisions and procedure for annulment of decisions. Will be clarified especially actual legislation in the Republic of Kosovo, which treat emphasized problematic and court procedure for annulment of mentioned decisions.At the end of thesis, will be given conclusions from findings from treatment and recommendation for actions in the future.

Laos-Vietnam trade hub prospects are unconvincing

2017 ◽  
Keyword(s):  
Sovereign Debt ◽  
Economic Benefit ◽  
Private Capital ◽  
Joint Stock Company ◽  
Unexploded Ordnance ◽  
Infrastructure Development ◽  
Stock Company ◽  
Content Type

Subject Lao and Vietnamese cooperation in infrastructure development and Laos's prospects as an inland trade hub. Significance Laos's government announced on May 25 that it is considering creating a public-private joint stock company to facilitate links with Vietnamese partners as both countries cooperate to develop the Vung Ang port. Proceeding with the project signals a renewed attempt to make Laos land-linked, rather than landlocked. Impacts Laos's leaders face a challenge encouraging neighbours to use the Vung Ang port. Laos-oriented trade alone will be insufficient to make the port commercially viable. In coming years, no major economic benefit for Laos directly stemming from the Vung Ang project is likely. War-era unexploded ordnance may slow construction of the Vung Ang rail link. Absent adequate private capital, sovereign debt could be required for the Vung Ang project, problematic for debt-burdened Laos.

scholarly journals Governance in an International Institution - The World Bank and its Reorganisations

1997 ◽  
Vol 2 (2) ◽  
pp. 39-58
Author(s):  
Sikander Rahim
Keyword(s):  
World Bank ◽  
Good Governance ◽  
Limited Liability ◽  
Developed Countries ◽  
Joint Stock Company ◽  
Stock Company ◽  
The World Bank ◽  
The World ◽  
The Developed Countries ◽  
The Right

The governance of an institution is normally partly ensured by other institutions, which depend on yet other institutions for their governance. But who ultimately guards the guardians? For the liberal electoral democracies of Europe and America the answer that evolved from the political thought of the eighteenth century and the limited liability joint stock company of the nineteenth was, crudely put, checks and balances and voters, who could be the electorate or shareholders. Its limitation is that it presupposes a state and the right of the voters to vote in their own interest. How, then, can good governance be ensured for international organisations, especially the World Bank and the International Monetary Fund, in which the representatives of the developed countries hold the majority of the votes on the Boards and are expected to cast them, not in their own immediate interests, but in the long term interest of the developing countries that borrow from these institutions?

Sign in / Sign up

Export Citation Format

Share Document