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The real costs of trade, the transport and other costs of doing business internationally, are very important determinants of a country's ability to participate fully in the world economy. Remoteness and poor transport and communications infrastructure isolate countries, inhibiting their participation in global production networks. This paper investigates the dependence of transport costs on geography and infrastructure It shows that infrastructure is quantitatively important in determining transport costs, and improvements in infrastructure can dramatically increase trade flows. It also finds that the low level of Northeast Asian countries' trade flows is largely due to poor infrastructure. Competition among countries in East Asia to maintain or become a logistic hub in the region is severe. This is reflected in the competition to build or expand airports and seaports in the region. Competing countries need to find ways of cooperating to achieve an efficient resource allocation in the region as a whole.

The objective of this study is to present a successful strategy to promote Korea as the logistics hub of Northeast Asia. Firstly, we introduce the necessity of a logistic hub strategy for Korea. In order to develop a successful strategy, we consider the 'free trade zone' model of the Netherlands and China. We develop a realistic and suitable model for Korea based on this Jree trade zone' model. Our proposal for a successful logistic hub strategy for Korea is the fulfillment of the following six objectives: 1) security of market accessibility, 2) improvement of the logistic system, 3) improvement of the education system, 4) improvement of the tax system, 5) assurance of labor market flexibility, and 6) development of an appealing living environment for foreigners.

The 1997-98 financial crisis has had a profound effect on how East Asian economies the role of the IMF and its strategic interests relative to those of the United States in the international financial regime. It has prompted them to create a regional mechanism for financial and monetary cooperation, ranging from deeper policy dialogue and surveillance, to a system of financial cooperation, and common exchange rate arrangements. This paper analyses the economic and strategic motivations behind this and outlines recent developments in financial cooperation in East Asia to provide possible directions for the future.

A network of bilateral swap arrangements under the Chiang Mai Initiative(CMI) needs stronger policy dialogue and surveillance to develop into a regional financing facility, a sort of East Asian IMF. The facility plays a role as an regional lender of last resort, providing short-term funds to a member country facing a temporary liquidity shortage and for market intervention to stabilize foreign exchange rate. East Asian countries need to achieve regional exchange rate stability. In the long run, the region may develop a common currency arrangement, but it cannot be expected in the very near future because there is no convergence of macroeconomic conditions, economic structure and systems. A realistic approach would be for East Asian developing countries to adopt a currency basket system to minimize the impact of dollar/yen exchange rate volatility on their economies. Strong political will and a vision for regional integration will be required to introduce it.

This research is designed to optimize the business process of a green tea dealer, who is a key supply chain partner of the Sri Lankan tea industry. The most appropriate trips for each vehicle in multiple trip routing systems are identified to minimize the total cost by considering the traveling distance.

The study has followed the concepts in vehicle routing problems and mixed-integer programming mathematical techniques. The model was coded with the Python programming language and was solved with the CPLEX Optimization solver version 12.10. In total, 20 data instances were used from the subjected green tea dealer for the validation of the model.

The result of the numerical experiment showed the ability to access supply over the full capacity of the available fleet. The model achieved optimal traveling distance for all the instances, with the capability of saving 17% of daily transpiration cost as an average.

This study contributes to the three index mixed-integer programing model formulation through in-depth analysis and combination of several extensions of vehicle routing problem.

This study contributes to the three index mixed-integer programming model formulation through in-depth analysis and combination of several extensions of the vehicle routing problem.

The proposed model provides a cost-effective optimal routing plan to the green tea dealer, which satisfies all the practical situations by following the multiple trip vehicle routing problems. Licensee green tea dealer is able to have an optimal fleet size, which is always less than the original fleet size. Elimination of a vehicle from the fleet has the capability of reducing the workforce. Hence, this provides managerial implication for the optimal fleet sizing and route designing.

Developing an optimization model for a tea dealer in Sri Lankan context is important, as this a complex real world case which has a significant importance in export economy of the country and which has not been analyzed or optimized through any previous research effort.

The purpose of this paper is to enhance consistent partial least squares (PLSc) to yield consistent parameter estimates for population models whose indicator blocks contain a subset of correlated measurement errors.

Correction for attenuation as originally applied by PLSc is modified to include a priori assumptions on the structure of the measurement error correlations within blocks of indicators. To assess the efficacy of the modification, a Monte Carlo simulation is conducted.

In the presence of population measurement error correlation, estimated parameter bias is generally small for original and modified PLSc, with the latter outperforming the former for large sample sizes. In terms of the root mean squared error, the results are virtually identical for both original and modified PLSc. Only for relatively large sample sizes, high population measurement error correlation, and low population composite reliability are the increased standard errors associated with the modification outweighed by a smaller bias. These findings are regarded as initial evidence that original PLSc is comparatively robust with respect to misspecification of the structure of measurement error correlations within blocks of indicators.

Introducing and investigating a new approach to address measurement error correlation within blocks of indicators in PLSc, this paper contributes to the ongoing development and assessment of recent advancements in partial least squares path modeling.

In this paper, the authors prove that the Douglas space of second kind with a generalised form of special (α, β)-metric F, is conformally invariant.

For, the authors have used the notion of conformal transformation and Douglas space.

The authors found some results to show that the Douglas space of second kind with certain (α, β)-metrics such as Randers metric, first approximate Matsumoto metric along with some special (α, β)-metrics, is invariant under a conformal change.

The authors introduced Douglas space of second kind and established conditions under which it can be transformed to a Douglas space of second kind.

This paper investigates if investors consider legal insider trading data while making investment decisions. If any investment decision is based on insider transactions, then it will result in abnormal stock characteristics. The purpose of this paper is to investigate if insider trading affects stock characteristics like price, return and volume. The paper further investigates the effect on stock characteristics after the trade of different types of insiders and the relationship between abnormal return and abnormal volume.

The study uses the event study method to measure the abnormal price, return and volume. Two-stage least square regression is used to investigate the relationship between abnormal return and abnormal volume.

The insider trades affect price, return and volume. The results are identical for both buy and sell transactions. The trades of different types of insiders have diverse effects on stock characteristics. The trades of substantial shareholders give rise to the highest abnormal price and return, whereas the promoters' trades result in the highest abnormal volume. No relationship is detected between abnormal return and volume.

A novel method to calculate the abnormal price is proposed. The effect of trading of all types of insiders on stock characteristics is analyzed. The relationship between abnormal return and abnormal volume, after an insider trade, is investigated.

Basic safety message (BSM) is a core subset of standard protocols for connected vehicle system to transmit related safety information via vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I). Although some safety prototypes of connected vehicle have been proposed with effective strategies, few of them are fully evaluated in terms of the significance of BSM messages on performance of safety applications when in emergency.

To address this problem, a data fusion method is proposed to capture the vehicle crash risk by extracting critical information from raw BSMs data, such as driver volition, vehicle speed, hard accelerations and braking. Thereafter, a classification model based on information-entropy and variable precision rough set (VPRS) is used for assessing the instantaneous driving safety by fusing the BSMs data from field test, and predicting the vehicle crash risk level with the driver emergency maneuvers in the next short term.

The findings and implications are discussed for developing an improved warning and driving assistant system by using BSMs messages.

The findings of this study are relevant to incorporation of alerts, warnings and control assists in V2V applications of connected vehicles. Such applications can help drivers identify situations where surrounding drivers are volatile, and they may avoid dangers by taking defensive actions.

The author augments an otherwise standard business-cycle model with a rich government sector and adds monopolistic competition in the product market and rigid prices, as well as rigid wages a la Calvo (1983) in the labor market.

This specification with the nominal wage rigidity, when calibrated to Bulgarian data after the introduction of the currency board (1999–2018), allows the framework to reproduce better observed variability and correlations among model variables and those characterizing the labor market in particular.

As nominal wage frictions are incorporated, the variables become more persistent, especially output, capital stock, investment and consumption, which help the model match data better, as compared to a setup without rigidities.

The findings suggest that technology shocks seem to be the dominant source of economic fluctuations, but nominal wage rigidities as well as the monopolistic competition in the product market, might be important factors of relevance to the labor market dynamics in Bulgaria, and such imperfections should be incorporated in any model that studies cyclical movements in employment and wages.

The computational experiments performed in this paper suggest that wage rigidities are a quantitatively important model ingredient, which should be taken into consideration when analyzing the effects of different policies in Bulgaria, which is a novel result.

The purpose of this paper is to investigate the economic feasibility of a three-echelon Halal Meat Supply Chain (HMSC) network that is monitored by a proposed radio frequency identification (RFID)-based management system for enhancing the integrity traceability of Halal meat products and to maximize the average integrity number of Halal meat products, maximize the return of investment (ROI), maximize the capacity utilization of facilities and minimize the total investment cost of the proposed RFID-monitoring system. The location-allocation problem of facilities needs also to be resolved in conjunction with the quantity flow of Halal meat products from farms to abattoirs and from abattoirs to retailers.

First, a deterministic multi-objective mixed integer linear programming model was developed and used for optimizing the proposed RFID-based HMSC network toward a comprised solution based on four conflicting objectives as described above. Second, a stochastic programming model was developed and used for examining the impact on the number of Halal meat products by altering the value of integrity percentage. The ε-constraint approach and the modified weighted sum approach were proposed for acquisition of non-inferior solutions obtained from the developed models. Furthermore, the Max-Min approach was used for selecting the best solution among them.

The research outcome shows the applicability of the developed models using a real case study. Based on the computational results, a reasonable ROI can be achievable by implementing RFID into the HMSC network.

This work addresses interesting avenues for further research on exploring the HMSC network design under different types of uncertainties and transportation means. Also, environmentalism has been becoming increasingly a significant global problem in the present century. Thus, the presented model could be extended to include the environmental aspects as an objective function.

The model can be utilized for food supply chain designers. Also, it could be applied to realistic problems in the field of supply chain management.

Although there were a few studies focusing on the configuration of a number of HMSC networks, this area is overlooked by researchers. The study shows the developed methodology can be a useful tool for designers to determine a cost-effective design of food supply chain networks.