Croatian Operational Research Review最新文献_第10页

The Risk and Reward Management in Innovation Portfolios: A Markovian Approach 创新投资组合中的风险与回报管理：一种马尔可夫方法

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Croatian Operational Research Review Pub Date : 2018-12-13 DOI: 10.17535/CRORR.2018.0013

S. Chión, V. Charles

{"title":"The Risk and Reward Management in Innovation Portfolios: A Markovian Approach","authors":"S. Chión, V. Charles","doi":"10.17535/CRORR.2018.0013","DOIUrl":"https://doi.org/10.17535/CRORR.2018.0013","url":null,"abstract":"Today, innovation is perceived as a source of competitive advantage for firms, playing a vital role in both the survival and growth of firms. A general look at the existing literature on innovation points toward a lack of studies that explore the risk and reward topic in the conformation of innovation portfolios in a firm. Hence, the main purpose of the present paper is to analyse the relationship between investment in innovation and the gain of the process and how this relationship is affected by the type of industry in which the firm operates and by the intervention of the authorities (legal protection of innovation). Among others, results indicate that, contrary to what could be expected, firms would tend to invest in disruptive innovation projects in hard innovative industries, wherein the potential, disruptive innovation is much harder to generate given the natural protection against potential competition that characterizes these industries. On the other hand, investment in disruptive innovation in soft innovative industries would require a framework of legal protection in accordance with the level of natural innovativeness of the industry. In terms of practical implications, the management of the legal protection would be socially desirable for achieving a balanced innovation development framework in the economy, as well as for resource allocations in disruptive innovation in industries where, although it is easier to be successful, its usufruct is difficult.","PeriodicalId":44065,"journal":{"name":"Croatian Operational Research Review","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.17535/CRORR.2018.0013","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47804619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Characteristics of the Analytic Network Process, a Multi-Criteria Decision-Making Method 多准则决策方法——分析网络过程的特点

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Croatian Operational Research Review Pub Date : 2018-12-13 DOI: 10.17535/CRORR.2018.0018

Nikola Kadoić

引用次数: 19

Cluster Detection in the Noisy Environment by Using the Modified EM Algorithm 基于改进EM算法的噪声环境下的聚类检测

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Croatian Operational Research Review Pub Date : 2018-12-11 DOI: 10.17535/CRORR.2018.0017

V. Novoselac, Zlatko Pavić

引用次数: 2

An Improved Robust Regression Model for Response Surface Methodology 一种改进的响应面方法的稳健回归模型

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Croatian Operational Research Review Pub Date : 2018-12-11 DOI: 10.17535/CRORR.2018.0025

E. Edionwe, J. I. Mbegbu, N. Ekhosuehi, H. Obiora-Ilouno

引用次数: 0

Benchmarking in Higher Education Using Data Envelopment Analysis and the Bologna Process Data 基于数据包络分析和博洛尼亚过程数据的高等教育基准

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Croatian Operational Research Review Pub Date : 2018-12-11 DOI: 10.17535/CRORR.2018.0024

Aydin Ulucan, Kazim Baris Atici, Akin Ozkan

引用次数: 1

The Worst Case Finite Optimal Value in Interval Linear Programming 区间线性规划中的最坏情况有限最优值

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Croatian Operational Research Review Pub Date : 2018-12-11 DOI: 10.17535/CRORR.2018.0019

M. Hladík

{"title":"The Worst Case Finite Optimal Value in Interval Linear Programming","authors":"M. Hladík","doi":"10.17535/CRORR.2018.0019","DOIUrl":"https://doi.org/10.17535/CRORR.2018.0019","url":null,"abstract":"We consider a linear programming problem, in which possibly all coefficients are subject to uncertainty in the form of deterministic intervals. The problem of computing the worst case optimal value has already been thoroughly investigated in the past. Notice that it might happen that the value can be infinite due to infeasibility of some instances. This is a serious drawback if we know a priori that all instances should be feasible. Therefore we focus on the feasible instances only and study the problem of computing the worst case finite optimal value. We present a characterization for the general case and investigate special cases, too. We show that the problem is easy to solve provided interval uncertainty affects the objective function only, but the problem becomes intractable in case of intervals in the righthand side of the constraints. We also propose a finite reduction based on inspecting candidate bases. We show that processing a given basis is still an NP-hard problem even with non-interval constraint matrix, however, the problem becomes tractable as long as uncertain coefficients are situated either in the objective function or in the right-hand side only.","PeriodicalId":44065,"journal":{"name":"Croatian Operational Research Review","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.17535/CRORR.2018.0019","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44578177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

The Impact of Fiscal Policy Convergence on Business Cycle Synchronization between Croatia and Eurozone Countries - Panel Analysis 财政政策趋同对克罗地亚与欧元区国家经济周期同步的影响——面板分析

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Croatian Operational Research Review Pub Date : 2018-12-11 DOI: 10.17535/CRORR.2018.0022

Mario Pecaric, Ante Tolj

{"title":"The Impact of Fiscal Policy Convergence on Business Cycle Synchronization between Croatia and Eurozone Countries - Panel Analysis","authors":"Mario Pecaric, Ante Tolj","doi":"10.17535/CRORR.2018.0022","DOIUrl":"https://doi.org/10.17535/CRORR.2018.0022","url":null,"abstract":"This paper analyzes how fiscal policy convergence impacts the business cycle synchronization between Croatia and eurozone countries and consequently indirectly affects the costs of monetary integration using panel data analysis. The main aim of the paper is to create a methodological framework for an empirical model based on critical examination of previous research. \u0000In the empirical model the dependent variable is business cycle synchronization, and the main independent variable is fiscal policy convergence. The problem of simultaneity (reverse causality) between dependent and independent variable is solved by using cyclically adjusted budgetary balance as indicator of discretionary fiscal policy. For control variables in the model we applied determinants of business cycle synchronization often used in this kind of research - financial integration, trade integration and sectoral structure similarity. \u0000Parameter estimation is performed using the fixed effects panel model. Our dataset involves Croatia and the eurozone countries and includes bilateral observations from 2001 to 2016. Unlike similar research which performed mostly cross-sectional analysis, this paper includes the time dimension and puts Croatia in the focus of research which has not been done before. Also, the paper contributes to research methodologically by estimating business cycles using the production function method and by measuring business cycle synchronization by using Cerqueira-Martins index. The results confirm that business cycle synchronization is positively influenced by fiscal policy convergence which indicates the necessity to comply with the rules proposed by the Stability and growth pact. It is also suggested that small open economies in process of accession, which is the case of Croatia, need to employ anticyclical discretionary fiscal policy.","PeriodicalId":44065,"journal":{"name":"Croatian Operational Research Review","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49393789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

A Novel Approach for Solving Quadratic Fractional Programming Problems 求解二次分式规划问题的一种新方法

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Croatian Operational Research Review Pub Date : 2018-12-11 DOI: 10.17535/CRORR.2018.0015

M. Sivri, Inci Albayrak, Gizem Temelcan

引用次数: 5

Dynamic Programming for an Optimal and Equitable Public Load Shedding Schedule 最优公平公共减载计划的动态规划

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Croatian Operational Research Review Pub Date : 2018-12-11 DOI: 10.17535/CRORR.2018.0016

M. Kampo, B. Ndiaye, G. Degla

引用次数: 0

External competitiveness and the role of fiscal policy: does fiscal austerity matter? 外部竞争力与财政政策的作用:财政紧缩重要吗?

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Croatian Operational Research Review Pub Date : 2018-11-25 DOI: 10.17535/CRORR.2019.0006

Boris Cota, N. Erjavec, Velibor Mačkić

{"title":"External competitiveness and the role of fiscal policy: does fiscal austerity matter?","authors":"Boris Cota, N. Erjavec, Velibor Mačkić","doi":"10.17535/CRORR.2019.0006","DOIUrl":"https://doi.org/10.17535/CRORR.2019.0006","url":null,"abstract":"During and after the sovereign debt crisis that hit most of the EU member states after the Great Recession, the question of the effectiveness of fiscal policy vis-à-vis ensuring sustainable growth rates and changing the economic structure of member states was highly debated. Accordingly, this paper investigates the effects of shocks in government purchases and net taxes on the export competitiveness of the eleven new EU member states: Bulgaria, the Czech Republic, Estonia, Croatia, Latvia, Lithuania, Hungary, Poland, Romania, Slovenia and Slovakia. The countries are treated as a homogenous sample, but the empirical analysis extends beyond this. Namely, the paper examines two subsamples based on the exchange rate regimes of the eleven new EU member states: the fixed vs the flexible exchange rate regime. By applying the panel VAR analysis, over the 1999-2015 period, we have reached the following conclusions. First, fiscal austerity influences the level of exports in our sample. Second, the effects of shocks in fiscal policy on the level of exports are short-lived. Third, shocks in government purchases are the most important determinant for all the new EU member states. And fourth, shocks in net taxes influence the level of export only in the countries that have the flexible exchange rate regimes. Our results contribute to the literature that examines the effects of fiscal policy on the competitiveness of national economies by highlighting both the duration effect of fiscal policy on the level of export and also by pointing to the optimal economic instrument used with respect to the currency arrangement of the country.","PeriodicalId":44065,"journal":{"name":"Croatian Operational Research Review","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2018-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.17535/CRORR.2019.0006","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48363212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1