Discusses the history, content and shortcomings of the 2003 Money Laundering Control Act of Taiwan, with two case studies involving money laundering (by the Yeh brother and Mr…
Abstract
Discusses the history, content and shortcomings of the 2003 Money Laundering Control Act of Taiwan, with two case studies involving money laundering (by the Yeh brother and Mr Chen, and by Mr Tzeng). Begins with the history of money laundering since Taiwan opened its financial markets in 1980, culminating in the 1996 Money Laundering Control Act, which was the first specific legislation of its type ever enacted by an Asian country. Details the provisions of the 2003 Act, including the requirements for financial institutions to ascertain clients’ identities and to establish systems for detecting suspect financial transactions and preventing money laundering. Shows how the Money Laundering Prevention Center is enforcing the Act, how international cooperation is allowed for, and how institutions must operate Know Your Customer and Know Your Employee schemes. Indicates the need for still better regulations, and for improved training of financial institution employees so that the regulations can be effectively implemented.
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Analyses the factors in Taiwanese credit card fraud, and gives case studies in order to classify the main types of fraud; these include fraudulent use of other people’s cards…
Abstract
Analyses the factors in Taiwanese credit card fraud, and gives case studies in order to classify the main types of fraud; these include fraudulent use of other people’s cards, credit card applications with forged documents, use of credit cards for illicit financing, looking for authorisation loopholes to conduct scams, and frauds committed by the staff at financial institutions. Outlines the government’s solutions to the problem, including anti‐counterfeit designs, legal tasks, fraud prevention mechanisms, establishing risk systems, management of merchants, and educational promotional activities. Concludes with recommendations for further action by government agencies, credit card companies, privileged stores, and cardholders.
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Hung‐Gay Fung, Pei‐Shan Tsai and Chin‐Ping Yu
We use over 200 firms in Taiwan to examine two issues: (1) how investors in Taiwan react to seasoned equity offerings (SEOs) when firms plan to make capital investments, and (2…
Abstract
We use over 200 firms in Taiwan to examine two issues: (1) how investors in Taiwan react to seasoned equity offerings (SEOs) when firms plan to make capital investments, and (2) factors driving the underwriting price of the stock offerings. Our results indicate that investors seem to have strong negative reactions to the SEOs announcement; they prefer alternative financings for firms with good profitability when they make capital investments. Several interesting results related to underpricing of SEOs are noted. First, larger firms and larger underwriters appear to have more underpricing. The number of underwriters will have a net positive effect on underpricing. Finally, the brokerage firm in comparing to the bank as the underwriter would yield a net positive effect on the underwriting price.
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Shuaishuai Geng, Yu Feng, Yaoguo Dang, Junjie Wang and Rizwan Rasheed
This paper aims to propose an enhanced algorithm and used to decision-making that specifically focuses on the choice of a domain in the calculation of degree of greyness according…
Abstract
Purpose
This paper aims to propose an enhanced algorithm and used to decision-making that specifically focuses on the choice of a domain in the calculation of degree of greyness according to the principle of grey numbers operation. The domain means the emerging background of interval grey numbers, it is vital for the operational mechanism of such interval grey numbers. However, the criteria of selection of domain always remain same that is not only for the calculated grey numbers but also for the resultant grey numbers, which can be assumed as unrealistic up to a certain extent.
Design/methodology/approach
The existence of interval grey number operation based on kernel and the degree of greyness containing two calculation aspects, which are kernel and the degree of greyness. For the degree of greyness, it includes concepts of domain and calculation of the domain. The concepts of a domain are defined. The enhanced algorithm is also comprised of four deductive theorems and eight rules that are linked to the properties of the enhanced algorithm of the interval grey numbers based on the kernel and the degree of greyness.
Findings
Aiming to improve the algorithm of the degree of greyness for interval grey numbers, based on the variation of domain in the operation process, the degree of greyness of the operation result is defined in this paper, and the specific expressions for algebraic operations are given, which is relevant to the kernel, the degree of greyness and the domain. Then, these expressions are used to the algorithm of interval grey numbers based on the kernel and the degree of greyness, improving the accuracy of the operation results.
Originality/value
The enhanced algorithm in this paper can effectively reduce the loss of information in the operation process, so as to avoid the situation where the decision values are the same and scientific decisions cannot be made during the grey evaluation and decision-making process.
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Kun‐Huang Huarng and Tiffany Hui‐Kuang Yu
By using three key factors – namely, funding, stakeholders, and legitimacy – this study seeks to analyse the successful entrepreneurial experiences of a non‐profit small to…
Abstract
Purpose
By using three key factors – namely, funding, stakeholders, and legitimacy – this study seeks to analyse the successful entrepreneurial experiences of a non‐profit small to medium‐sized enterprise: the Taiwan EBook Supply Cooperative Limited (TEBSCo).
Design/methodology/approach
The paper takes the form of a case study.
Findings
From a legitimacy perspective, TEBSCo is the only registered organisation facilitating e‐book consortia in Taiwan. From a stakeholder perspective, TEBSCo is managed by a board of directors, who are elected from the member representatives. In addition to creating value for its members, TEBSCo also creates value for non‐members and vendors. Its major funding is from annual membership fees. TEBSCo's innovation process, as a collective entrepreneurial activity in a non‐profit SME, creates intangible as well as tangible value. The successful experiences of TEBSCo can be used as examples for new entrants.
Originality/value
TEBSCo is the only registered organisation facilitating e‐book consortia in Taiwan. The successful experiences of TEBSCo can be used as examples for new entrants, and shows a new form of entrepreneurial activity.
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Yezhong Fang, Xiaotian Ji, Xingquan Zhang, Jun Wang, Bin Chen, Shiwei Duan, Jinyu Tong, Guangwu Fang and Shanbao Pei
The purpose of this paper is to investigate the dynamic forming process of the micro dent fabricated by laser shock processing on 2024-T3 aluminum alloy. The effect of laser pluse…
Abstract
Purpose
The purpose of this paper is to investigate the dynamic forming process of the micro dent fabricated by laser shock processing on 2024-T3 aluminum alloy. The effect of laser pluse energy on the deformation of micro dent was also discussed in detail.
Design/methodology/approach
It uses finite element analysis method and the corresponding laser shocking experiment.
Findings
The results demonstrate that the dynamic formation process of micro dent lasts longer in comparison with the shock wave loading time, and the depths of micro dents increase with the increasing laser energy. In addition, laser shocking with higher energy can result in more obvious pileup occurred at the outer edge of micro dent.
Originality/value
Surface micro dents can serve as fluid reservoirs and traps of the wear debris, which can decrease the effects of the wear and friction in rolling and sliding interfaces. The investigations can not only be propitious to comprehensively understand the forming mechanism of laser-shocked dent, but also be beneficial to get sight into the residual stress field induced by laser shocking.
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Chih‐Fong Tsai, Ya‐Han Hu, Chia‐Sheng Hung and Yu‐Feng Hsu
Customer lifetime value (CLV) has received increasing attention in database marketing. Enterprises can retain valuable customers by the correct prediction of valuable customers…
Abstract
Purpose
Customer lifetime value (CLV) has received increasing attention in database marketing. Enterprises can retain valuable customers by the correct prediction of valuable customers. In the literature, many data mining and machine learning techniques have been applied to develop CLV models. Specifically, hybrid techniques have shown their superiorities over single techniques. However, it is unknown which hybrid model can perform the best in customer value prediction. Therefore, the purpose of this paper is to compares two types of commonly‐used hybrid models by classification+classification and clustering+classification hybrid approaches, respectively, in terms of customer value prediction.
Design/methodology/approach
To construct a hybrid model, multiple techniques are usually combined in a two‐stage manner, in which the first stage is based on either clustering or classification techniques, which can be used to pre‐process the data. Then, the output of the first stage (i.e. the processed data) is used to construct the second stage classifier as the prediction model. Specifically, decision trees, logistic regression, and neural networks are used as the classification techniques and k‐means and self‐organizing maps for the clustering techniques to construct six different hybrid models.
Findings
The experimental results over a real case dataset show that the classification+classification hybrid approach performs the best. In particular, combining two‐stage of decision trees provides the highest rate of accuracy (99.73 percent) and lowest rate of Type I/II errors (0.22 percent/0.43 percent).
Originality/value
The contribution of this paper is to demonstrate that hybrid machine learning techniques perform better than single ones. In addition, this paper allows us to find out which hybrid technique performs best in terms of CLV prediction.
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Shiaw‐Wen Tien, Chung‐Ching Chiu, Chih‐Hung Tsai, Yi‐Chan Chung and Ya‐Chin Chang
This research treated the secondary school teachers as the research scale and the research targets included the following: secondary school (employ unit), center of teacher…
Abstract
This research treated the secondary school teachers as the research scale and the research targets included the following: secondary school (employ unit), center of teacher education, and qualified teachers. In terms of these three groups of people, the topics of exploration focused on the perception of suitable teachers, perception of evaluation standard during the process of teacher examination and the relationship among teacher examination systems. The research was managed by two phases: the first phase referred to literature reorganization, expert interview, the qualities and conditions of suitable teachers, important evaluation standard during the process of teacher examination and teacher examination system used; the second phase included questionnaire survey, employ school acquisition, the perception of centers of teacher education and qualified teachers toward the suitability condition and examination evaluation standard in the first phase and teacher examination system used. This research found out that as to the perception of suitable teachers, through data collection, there were six factors reorganized. The levels of their importance were as follows: education devotion, teaching capacity, class management, capacity to guide special students, capacity to communicate with the parents and the will to undertake administrative works. Noticeably, employee unit and centers of teacher education apparently valued class management more, compared with trained teachers; as to evaluation standard of examination, the analytical result found out that the perception of three groups were different in terms of the views toward educational works, written examination data, candidate’s age, club experience at school and capacity to use multimedia support teaching materials. This research further proposed six suggestions for centers of teacher education and trained teachers: (1) employ schools considerably valued educational devotion; (2) trained teachers tended to neglect the importance of class management; (3) employee unit considerably cared about the new teachers’ competence to use multimedia support teaching materials; however, trained teachers did not have the same view; (4) employee unit considerably cared about new teachers’ views toward educational works as well as the candidates’ ages; (5) generally speaking, trained teachers neglected the importance of club experience at school; (6) the data revealed that written examination data was not relatively important in terms of teacher examination
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Bing Hua, Zhiwen Zhang, Yunhua Wu and Zhiming Chen
The geomagnetic field vector is a function of the satellite’s position. The position and speed of the satellite can be determined by comparing the geomagnetic field vector…
Abstract
Purpose
The geomagnetic field vector is a function of the satellite’s position. The position and speed of the satellite can be determined by comparing the geomagnetic field vector measured by on board three-axis magnetometer with the standard value of the international geomagnetic field. The geomagnetic model has the disadvantages of uncertainty, low precision and long-term variability. Therefore, accuracy of autonomous navigation using the magnetometer is low. The purpose of this paper is to use the geomagnetic and sunlight information fusion algorithm to improve the orbit accuracy.
Design/methodology/approach
In this paper, an autonomous navigation method for low earth orbit satellite is studied by fusing geomagnetic and solar energy information. The algorithm selects the cosine value of the angle between the solar light vector and the geomagnetic vector, and the geomagnetic field intensity as observation. The Adaptive Unscented Kalman Filter (AUKF) filter is used to estimate the speed and position of the satellite, and the simulation research is carried out. This paper also made the same study using the UKF filter for comparison with the AUKF filter.
Findings
The algorithm of adding the sun direction vector information improves the positioning accuracy compared with the simple geomagnetic navigation, and the convergence and stability of the filter are better. The navigation error does not accumulate with time and has engineering application value. It also can be seen that AUKF filtering accuracy is better than UKF filtering accuracy.
Research limitations/implications
Geomagnetic navigation is greatly affected by the accuracy of magnetometer. This paper does not consider the spacecraft’s environmental interference with magnetic sensors.
Practical implications
Magnetometers and solar sensors are common sensors for micro-satellites. Near-Earth satellite orbit has abundant geomagnetic field resources. Therefore, the algorithm will have higher engineering significance in the practical application of low orbit micro-satellites orbit determination.
Originality/value
This paper introduces a satellite autonomous navigation algorithm. The AUKF geomagnetic filter algorithm using sunlight information can obviously improve the navigation accuracy and meet the basic requirements of low orbit small satellite orbit determination.