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A Note on Principal-Agent Problem in a Stochastic System
Issue:
Volume 6, Issue 3, September 2021
Pages:
29-34
Received:
27 July 2021
Accepted:
5 August 2021
Published:
11 August 2021
Abstract: We consider a principal (e.g., a ridesharing platform such as Uber or Lyft) who receives two types of jobs (e.g., passengers requesting solo or shared rides) according to a Poisson process. The principal first decides which jobs to admit and then assigns an agent (e.g., driver) to perform them. The agent who is assigned the job has preference between the two types of jobs. The agent can independently decide whether to accept or reject a job which is assigned to them. The principal and the agent receive different rewards from each job thus resulting in incentives misalignment. The research questions are: (1) which job(s) should the principal admit? (2) How much should the principal pay the agent? To answer these questions, we model the agent as an M / M / 1 loss system. Using a Markov decision process and dynamic programming, we find the optimal wage the principal should pay the agent and a threshold admission policy (also known as trunk-reservation or switching-curve policy). Prior literature did not consider two players (agent and principal) with misaligned objectives and each making dynamic decisions. We contribute to the literature by adding another layer of decision making and by introducing server (agent) independence wherein the servers have preferences regarding the type of job they wish to perform.
Abstract: We consider a principal (e.g., a ridesharing platform such as Uber or Lyft) who receives two types of jobs (e.g., passengers requesting solo or shared rides) according to a Poisson process. The principal first decides which jobs to admit and then assigns an agent (e.g., driver) to perform them. The agent who is assigned the job has preference betwe...
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The Legal System for International Companies and Its International Influence
Ahmed Ragab Abdel Khaleq Korshom
Issue:
Volume 6, Issue 3, September 2021
Pages:
35-51
Received:
28 May 2021
Accepted:
9 July 2021
Published:
24 August 2021
Abstract: Investment has become the backbone of all sectors in the country, because by doubling the investments, this leads to an increase in the national income, which is the main financier of most sectors of the country, and therefore attracting foreign investments is of great importance in the development of the country. Countries, and because these investments will play an important role in developing those countries’ investments through technology transfer, and companies play a major role in helping many developing countries in the world provide opportunities to penetrate the global market, for example: the experience of the Asian tigers in Southeast Asia, and therefore Developing countries must attract these international companies so that they can exit from the crucible of primary and extractive commodity production to industries that are more beneficial in terms of export value. Among the factors that led to the spread of global companies is the desire of countries, especially developing ones, to encourage investments through these companies due to their lack of capital for development programs, and the need for technical, technical and administrative expertise. The structures of these entities are highly organized, as most of these companies are managed from the countries of origin in the central method, in which the main center of the parent company is located. International companies are a huge force in the global economy, and they operate through a complex network of organizational structures, and they engage in international production processes according to an integrated global system, under whose management nearly a third of global production, and international companies are the main driver of the phenomenon of globalization, which represents the determinant The basic path of growth and development in various countries of the world today, and the emergence of global companies is the new form of organizing international economic activity, and these companies began to control the world, infiltrating all areas of national sovereignty.
Abstract: Investment has become the backbone of all sectors in the country, because by doubling the investments, this leads to an increase in the national income, which is the main financier of most sectors of the country, and therefore attracting foreign investments is of great importance in the development of the country. Countries, and because these inves...
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Effectiveness of Systems Application on Financial Performance of Supermarkets in Kenya
Issue:
Volume 6, Issue 3, September 2021
Pages:
52-57
Received:
10 August 2021
Accepted:
23 August 2021
Published:
30 August 2021
Abstract: The scramble for space in the retail industry has forced most supermarkets into adopting alternative strategies that will enable them attract customers, reduce operational costs and gain competitive edge in the market. This study discusses the application of systems with integrated database that are able to create enabling environment for efficient retail management. Bar coding and Continuous Replenishment System are the key variables used to get more insight into the study. The study adopted a cross-sectional survey design. A stratified sampling method was used to select a sample from the total population. From each stratum, the study used a random sampling to select 30% of the respondents which made a sample of 42 respondents. Data was collected using questionnaires and analysis done using statistical package for social science to communicate research findings. The ANOVA findings as explained by the P-Value of 0.000 which is less than 0.05 (significance level of 5%) confirms the existence of correlation between the independent and dependent variables. From the study findings, the study concludes that the introduction of barcode and continuous replenishment systems at an early stage of supermarket operation will enable the business to create greater responsiveness to its customers and suppliers, understand its cash flow needs, protect its financial data and confidential executive decisions and reduce its operation expenses leading to higher profitability and financial performance.
Abstract: The scramble for space in the retail industry has forced most supermarkets into adopting alternative strategies that will enable them attract customers, reduce operational costs and gain competitive edge in the market. This study discusses the application of systems with integrated database that are able to create enabling environment for efficient...
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The Influence of Intrinsic and Extrinsic Motivation in Public Universities in Ghana
Frederick Kwaku Sarfo,
Michael Kofi Adu,
Sabina Koompong,
Abraham Attoh,
Philip Baidoo
Issue:
Volume 6, Issue 3, September 2021
Pages:
58-66
Received:
6 April 2021
Accepted:
19 April 2021
Published:
31 August 2021
Abstract: The subsistence and development of every Institution and organization, to a large extent, depends on the employees’ output. Therefore, it is authoritative for employers to make room for the satisfaction of employees in order to retain their due services. The purpose of the study was to examine the effects of intrinsic and extrinsic motivation on staff retention at Public Universities in Ghana (PUG). Primary data was collected from a total number of eighty (80) respondents comprising junior staff, senior staff, and senior members from PUG using structured questionnaires and interview guide to establish both extrinsic and intrinsic motivational factors that encourage staff retention on their job. Consequently, both quantitative and qualitative data were used. The influence of intrinsic and extrinsic motivation in PUG was characterized and analyzed to generate frequencies and percentages with the help of Microsoft Excel. The research findings showed that salary/wages, promotion, leave and health benefits, job security, accommodation, and transportation were the topmost variables that encourage employees extrinsically to remain on their jobs. There are lots of intrinsic and extrinsic motivational factors in the Public Universities of Ghana. However, the staff does not have intentions to see the downfall of their employer. In order to improve staff motivation at the Public Universities in Ghana, the finding factors have been indicated in the writeup.
Abstract: The subsistence and development of every Institution and organization, to a large extent, depends on the employees’ output. Therefore, it is authoritative for employers to make room for the satisfaction of employees in order to retain their due services. The purpose of the study was to examine the effects of intrinsic and extrinsic motivation on st...
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