Zolile Myeko and Chux Gervase Iwu

DOI: https://doi.org/10.6000/1929-7092.2019.08.01

Published: 1 February 2019  

Abstract: The primary objective of this study is to examine the experiences of copreneurs specifically those who operate in the black townships of the Western Cape. Specifically, this study targets African1 copreneurs. Copreneurship is the term used when a husband and wife come together to own and manage a business as part of their daily engagement. As copreneurs, they confront specific obstacles. In South Africa, copreneurs exist within the framework of two fields, namely small, medium, micro business and family business. This study adopts a mixed research methodology, involving both quantitative and qualitative techniques. Thus the data collection instruments included a questionnaire and an interview schedule involving 150 subjects. The findings reveal, among other things, that major obstacles include the lack of finance for business expansion, as well as the lack of relevant information about government support, crime and absence of infrastructure. This study provides an opportunity to understand the specific challenges that c face, as well as information about the state of African copreneurship in black townships in the Western Cape. It is hoped that the findings and recommendations will shine a light on the specific challenges, as well as provide the necessary remedial opportunities so that these entrepreneurs are able to meaningfully add value to their respective communities.

Keywords: Small medium and micro businesses, Copreneurs, South Africa, Entrepreneurship, Copreneurship.

Download

Vladimir A. Popov

DOI: https://doi.org/10.6000/1929-7092.2020.09.07

Published: 29 January 2020

Abstract: The reasons of the financial markets collapse and methods of their forecasting are investigated in this article. A model based on hypothesis of the quantum nature of the impact of information on financial markets is given. It is shown that in information-saturated volatile financial markets, sharp price jumps are really expected

Motivation for this research is inability of traditional approach for explaining sharp price jumps during financial crises. They are unexpected according to the traditional theories. When considering the logarithm of relative price changes over the period ytk = ln(Ntk/Ntk-1) it was found that the statistical characteristics of this random value differ from the characteristics of the normal distribution. The approach, developed in this paper, explaining the possibility of sharp price jumps, seems to be more harmonious than the traditional approach.

Novelty of given approach consists in considering a model based on the assumption about the quantum (discontinuous) nature of information impact on financial markets. The process of information transfer is quantum – i. e. the information is transmitted in portions, multiples of a quantum of information. There are discrete information levels. When moving from one level to another, it is necessary to absorb or emit one quantum of information. Thus, the amount of information of a particular level is necessarily a multiple of the quantum of information.

Methodology and methods are based on probability and differential equations. Equation with respect to logarithm of increment of prices y = ln(N(t0+t)/N(t0)) is thoroughly investigated. The probability density function for each information price level Pn(y) = 2n(y), where (y) is called the wave function of prices. Equation with respect to (y) is thoroughly investigated too.

There are many calculations of various probabilities and other characteristics of y (logarithm of prices increment) for different information price level. The hierarchy of information-price levels is autonomous – i.e. each of them has its own separate probability characteristics, different functions of probability density distribution. The normal distribution takes place only when n=0. For all others n=1, 2, 3... the density functions are different from Gaussian.

Keywords: Financial markets, asset prices, price emissions, risks, the quantum nature of information, resonance phenomena, density wave function, quantum oscillator.

Download

Siok Kun Sek, KivanÇ Halil AriÇ and Jenq Fei Chu

DOI: https://doi.org/10.6000/1929-7092.2019.08.52

Published: 24 September 2019

Abstract: Previous studies have evident the effects of oil price changes on domestic inflation. However, such effects may vary due to oil dependency factor. This paper extends the examination on two panel groups, namely the oil importing and oil exporting countries. Each group consists of ten countries. Besides, we also compare the relative effects of oil price with other shocks (domestic output, exporter’s production cost and real exchange rate) on domestic inflation (consumer price and producer price). Our results capture significant pass-through effect from oil price changes on domestic inflation at producer and consumer levels. However, oil price is not the main determinant to domestic inflation. The oil price pass-through effect differs between oil importing versus oil exporting groups across consumer and producer levels. Higher oil price causes to higher production price inflation but does not lead to higher consumer price inflation in both groups of countries. The oil price effect together with exchange rate, foreign cost production and GDP have significant long-run impact on domestic inflation in both groups of countries. The joint effects are small and not significant in the short-run. Oil dependency and effective monetary policy matter on determining the effect of oil price changes on domestic inflation.

Keywords: Oil price pass-through, consumer and producer price inflation, monetary policy.

Download

Phatcharasak Phawanaphinyo, Narongdech Keeratipranon and Chaiyaporn Khemapatapan

DOI: https://doi.org/10.6000/1929-7092.2017.06.26

Published: 09 June 2017 

Abstract: Electric power is the main energy source for a modern society. Good management of electric power cycle is essential for a sustainable society. The electric power cycle is composed of Generation, Transmission, Distribution, and Consumption. Smart Grid (SG) is a system that integrated traditional grids with Information and Communication Technology (ICT). In addition, SG has the ability to integrate electrical power supply from both to main power substation and Distributed Generation (DG), which compensates for the power demand during peak times. However, SG still has a similar problem to the original grid in terms of active power loss, from electric current injecting through the transmission line. This paper solves the active power loss problem by feeder routing using the Adjusting Dijkstra’s Cost Method, follow by deciding the allocation position and sizing of DG by the use of Evolutionary Computing, namely Harmony Search (HS), Artificial Bee Colony (ABC), and Particle Swarm Optimization (PSO). The experiments evaluate the performance of the algorithm using power flow analysis, Backward / Forward Sweep Method, on the IEEE 33 bus system. From the experimental results, PSO provides the best performance. The overall active power loss in the cases of 3 DGs was reduced from 202.67 to 52.29 kW, representing a reduction of 74.20%..