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Organization in Finance Prepared by Stochastic Differential Equations with Additive and Nonlinear Models and Continuous Optimization

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Taylan P., Weber G.-W.

Organizacija

2008

vol. 41

issue 5

185-193

A central element in organization of financal means by a person, a company or societal group consists in the constitution, analysis and optimization of portfolios. This requests the time-depending modeling of processes. Likewise many processes in nature, technology and economy, financial processes suffer from stochastic fluctuations. Therefore, we consider stochastic differential equations (Kloeden, Platen and Schurz, 1994) since in reality, especially, in the financial sector, many processes are affected with noise. As a drawback, these equations are hard to represent by a computer and hard to resolve. In our paper, we express them in simplified manner of approximation by both a discretization and additive models based on splines. Our parameter estimation refers to the linearly involved spline coefficients as prepared in (Taylan and Weber, 2007) and the partially nonlinearly involved probabilistic parameters. We construct a penalized residual sum of square for this model and face occuring nonlinearities by Gauss-Newton's and Levenberg-Marquardt's method on determining the iteration step. We also investigate when the related minimization program can be written as a Tikhonov regularization problem (sometimes called ridge regression), and we treat it using continuous optimization techniques. In particular, we prepare access to the elegant framework of conic quadratic programming. These convex optimation problems are very well-structured, herewith resembling linear programs and, hence, permitting the use of interior point methods (Nesterov and Nemirovskii, 1993).

STUDYING CUSTOMER LOYALTY AT DAEWOO EXPRESS BUS SERVICE, PAKISTAN

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Yousaf U., Yousaf J., Altaf M., Bagram M. M. M.

LogForum

2013

vol. 9

issue 3

145-152

Background: Meeting service quality standards and striving for loyalty are two critical areas which have until now been overlooked by both the passenger transport industry and academia in Pakistan therefore the study sheds useful light on an issue hitherto untouched. Therefore increased sample size will help in increasing generalizability of study. Methods: This paper is designed to study the level of loyalty at Daewoo Express Bus Service in Sargodha by measuring customer satisfaction. Researchers used a small sample of only 96 respondents (passengers) and only studies customer's behavior in the service quality of Daewoo Express Bus Service however it may differ in other passenger transport services. Results and conclusions: This paper reveals that there is a positive and significant relationship between loyalty (dependant variable) and price perceptions, reliability, retrieving and smoothing (independent variables). However, the study found that reliability of services is the most important dimension among other independent variables (price perceptions, smoothing, reliability, retrieving) effecting customers loyalty at Daewoo Express. Paper under consideration would surely assist Daewoo`s management team to take care of the loopholes existing in the current service level and likely threats which Daewoo might face.

Wstęp: Spełnienie standardów obsługi klienta oraz dążenie do osiągnięcia wysokiej lojalności wśród klientów są dwoma krytycznymi obszarami, którym do tej pory poświęcano mało uwagi zarówno przez przemysł transportu pasażerskiego jak i ośrodki naukowe w Pakistanie. W związku z tym przydatnym powinna być poniższa praca, jak również badania te powinny być przeprowadzone na większych próbach w celu osiągnięcia bardziej uogólnionych wniosków. Metody: Praca bada poziom lojalności klientów Daewoo Express Bus Service w miejscowości Sargodha poprzez pomiar zadowolenia tych klientów. Autorzy przeprowadzili badania tylko na małej grupie liczącej 96 ankietowanych (pasażerów) i ograniczyli te badania tylko do Daewoo Express Bus Service, jednak wyniki podobnych badań mogą być inne w przypadku innych usług transportowych. Wyniki i wnioski: W pracy stwierdzono pozytywną i istotną zależność pomiędzy lojalnością (zmienna zależna) a postrzeganiem ceny, wiarygodnością, dostępnością i wygoda (zmienne niezależne). Badania wykazały, że wiarygodność usług jest najważniejszym czynnikiem wśród innych zmiennych niezależnych (postrzeganie ceny, dostępność i wygoda), która determinuje lojalności klientów Daewoo Express. Praca ta pomoże z pewnością kadrze kierowniczej w wyeliminowaniu istniejących braków w obecnym systemie obsługi klientów oraz uniknięciu zagrożeń przyszłości.

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1 Taylan P.

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1 Yousaf J.

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Organization in Finance Prepared by Stochastic Differential Equations with Additive and Nonlinear Models and Continuous Optimization

STUDYING CUSTOMER LOYALTY AT DAEWOO EXPRESS BUS SERVICE, PAKISTAN