Entrepreneurship in Technology for ASEAN PDF
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Managing the Asian Century Purnendu Mandal John Vong Editors Entrepreneurship in Technology for ASEAN Managing the Asian Century Series editor Purnendu Mandal, College of Business, Lamar University, Beaumont, TX, USA Managing the Asian Century provides a platform for scholastic discussions and stresses the need for a holistic framework to understand Asia as an emerging economic global powerhouse. Books published in this series cover Asia-centric topics in economics, production, marketing, finance, entrepreneurship, education, culture, technology, as well as other areas of importance to Asian economics. The series will publish edited volumes based on papers submitted to international and regionalconferencesthatfocusonspecificAsia-Pacificthemes,suchasinvestment in education, women’s rights, entrepreneurship, climate change, wage inequality, challengesingovernance,andcorruption.Booksinthisseriesareofkeeninterestto researchers and policy planners around the world and will be used by universities for graduate and doctoral level studies. More information about this series at http://www.springer.com/series/13579 Purnendu Mandal John Vong (cid:129) Editors Entrepreneurship in Technology for ASEAN 123 Editors Purnendu Mandal JohnVong Collegeof Business Lee KuanYewSchool of PublicPolicy Lamar University National University ofSingapore Beaumont, TX Singapore USA Singapore ISSN 2364-5857 ISSN 2364-5865 (electronic) Managingthe AsianCentury ISBN978-981-10-2280-7 ISBN978-981-10-2281-4 (eBook) DOI 10.1007/978-981-10-2281-4 LibraryofCongressControlNumber:2016949608 ©SpringerScience+BusinessMediaSingapore2017 Thisworkissubjecttocopyright.AllrightsarereservedbythePublisher,whetherthewholeorpart of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission orinformationstorageandretrieval,electronicadaptation,computersoftware,orbysimilarordissimilar methodologynowknownorhereafterdeveloped. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publicationdoesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexemptfrom therelevantprotectivelawsandregulationsandthereforefreeforgeneraluse. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authorsortheeditorsgiveawarranty,expressorimplied,withrespecttothematerialcontainedhereinor foranyerrorsoromissionsthatmayhavebeenmade. Printedonacid-freepaper ThisSpringerimprintispublishedbySpringerNature TheregisteredcompanyisSpringerNatureSingaporePteLtd. Theregisteredcompanyaddressis:152BeachRoad,#22-06/08GatewayEast,Singapore189721,Singapore Preface The word entrepreneurship brings forth thoughts and images that are associated with resources, risk taking, opportunity seeking, monetizing of ideas, and seed capital.Theenterprisesarefar-reachingandwide-ranging.Theentrepreneurscould wellpitchtheirproductsandservices,toandin,theindustriesandmarketssuchas finance, education, manufacturing, healthcare and hospitality, mining, and the public sector. Technology conjures ideas on thoughts and thinking towards automation, mechanization, computerization, convergence of hardware and software, noble technology, connectivity, and a borderless world. Indeed the onslaught of tech- nologyinthelastthreedecadeshasbeenrapidandithasmadesignificantchanges that impacted our lives, living and livelihoods across the globe. Combining the words of entrepreneurship and technology burst forth Microsoft and Bill Gates, Facebook and Mark Zuckerberg, Apple and the late Steve Jobs, AlibabaandJackMa,DellandMichaelDell,GoogleandSergeyBrin,andYahoo and Jerry Yang, and many more can be included in the list. There is a common themeintheseindividualsandtheirglobalbrands.Theyhavenovelideas.Theyare entrepreneurs who are able to marshal the resources and add deep technology researchanddevelopmenttoconjureproductsandservicesthatsurroundtheirideas toreachthecoreofconsumermarkets.Throughthatprocess,theyalsoachievedthe monetization of both technology and ideas. This book expounds technology research and development that fuels entrepreneurship in ASEAN. It extrapolates technological approaches to big data analysis, healthcare, trends in intellectual property, port management, manufactur- ing,landadministration,andtheinfluenceofConfucianismonentrepreneurship.In short,there willbeinterestingessays onthecombinedforce oftechnologicalideas andideologicalforcesthatisdrivingentrepreneurshipinASEANandawiderAsia today. Beaumont, USA Purnendu Mandal Singapore, Singapore John Vong v Contents Modern Approaches of Financial Data Analysis for ASEAN Entrepreneurs... ..... .... .... .... .... .... ..... .... 1 Insu Song, Bryan Anselme, Purnendu Mandal and John Vong Business Models for Entrepreneurs: Commercializing, Leveraging, and Monetizing Intellectual Property Rights in India and ASEAN Countries.... .... .... .... .... .... ..... .... 15 K.V. Nithyananda New Patent Market Analysis Technology for ASEAN Entrepreneurs. .... .... .... ..... .... .... .... .... .... ..... .... 33 Priyanka Rana, Insu Song, Purnendu Mandal and John Vong Factors Influencing Implementation of Lean Manufacturing: Case on Manufacturing in Indonesia.... .... .... .... .... ..... .... 47 Hendro Lukman and Susanto Salim Global Health Surveillance Approaches: New Opportunities. ..... .... 59 Insu Song, Dominic Hayes, Purnendu Mandal and John Vong An Integrated Approach for Healthcare Systems Management in India .. .... .... .... .... ..... .... .... .... .... .... ..... .... 73 Pradip Kumar Ray An Overview of Impact of Healthcare Inventory Management Systems on Entrepreneurship. ..... .... .... .... .... .... ..... .... 83 Esha Saha and Pradip Kumar Ray Gender Equality in Performance Assessment to Nurture the ASEAN Entrepreneurial Spirit—An Exploratory Study in Vietnam.... .... .... .... ..... .... .... .... .... .... ..... .... 95 Philip Michael Ross Smith, Helga Nagy, Christine Bilsland and Dinh Thi Hong Nhung vii viii Contents Software Development Productivity in Different Sourcing Arrangements . .... .... .... ..... .... .... .... .... .... ..... .... 111 Niharika Dayyala, Kallol Bagchi and Purnendu Mandal Advancements in Technology and Potential Impacts on Port Automations Decisions: The Case of Port of Singapore. .... ..... .... 127 Kelly Weeks, Purnendu Mandal and Kabir Sen Impacts of Land Dereliction: Classification and Basic Information for Entrepreneurs.. .... .... ..... .... .... .... .... .... ..... .... 139 Bela Das Confucianism and Entrepreneurship in ASEAN Context ... ..... .... 161 Larry Allen Modern Approaches of Financial Data Analysis for ASEAN Entrepreneurs Insu Song, Bryan Anselme, Purnendu Mandal and John Vong Abstract Short-andmedium-termpredictionsofstockpriceshavebeenimportant problems in financial analysis. In the past, various different approaches have been used including statistical analysis, fundamental analysis, and more recently advanced approaches that use machine learning and data mining techniques. However, most of existing algorithms do not incorporate all available information of the market. Using more informative and relevant data, prediction results will better reflect market reality. This would benefit in reducing the inaccuracy of predictingduetorandomnessinstockprices,usingtrendratherthanasinglestock price variation. For instance, some stock prices are correlated and/or dependent with/on each other and market mood. In this paper, we review the existing tech- niques of stock prices and time series predictions, and the classification and clus- tering methods. Based on the literature analysis, we propose a method for incorporating-related stock trend information: clustering-related companies using machine learning approaches. We report on a preliminary analysis results using monthly adjusted closing prices of 100 companies collected over a 15-month period. I.Song(&) SchoolofBusiness/IT,JamesCookUniversity,Singapore,Singapore e-mail:[email protected] B.Anselme SchoolofBusiness/IT,JamesCookUniversity,Singapore,Singapore e-mail:[email protected] B.Anselme EcoleNationaleSuperieurdel’Informatiquepourl’Industrieetl’Entreprise(ENSIIE), Évry,France P.Mandal CollegeofBusiness,LamarUniversity,Beaumont,TX,USA e-mail:[email protected] J.Vong LeeKuanYewSchoolofPublicPolicy,NationalUniversityofSingapore, Singapore,Singapore e-mail:[email protected] ©SpringerScience+BusinessMediaSingapore2017 1 P.MandalandJ.Vong(eds.),EntrepreneurshipinTechnologyforASEAN, ManagingtheAsianCentury,DOI10.1007/978-981-10-2281-4_1 2 I.Songetal. (cid:1) (cid:1) (cid:1) (cid:1) Keywords Clustering Financial analyses Stock price prediction Prediction Classification 1 Introduction Todaymostoftheglobalmonetarymassisinvestedinfinancialplaces,oncoupons, debt financing, raw materials, features, or stocks. Optimizing investment strategies in these markets has become one of today’s most important research topics. The most common methodologies are: portfolio management that aims to reduce the risktakenininvestmentbydiversifyingtherangeofinvestment(Paranjape-Voditel and Deshpande 2013), arbitrage by detecting anomaly in prices and take a free lunch, pricing by calculating the real value of stocks, and finally standard trading withtwomajorstypes,whicharethefundamental(LevandThiagarajan1993)and the technical/quantitative (Lo et al. 2000) analysis approaches. The technical/quantitativeanalysisapproachesincludeusingmathematicaltoolsinorder to predict trends, discovering patterns for machine-based trading, and predicting medium-/short-term trends. The fundamental analysis approaches include using micro- and macroeconomics indicators, news and financial data of companies in order to predict trend for the concerned stocks for medium- and long-term views. Recentadvancementindataminingtechnologies,suchasclustering(Esteretal. 1996), ANN (Artificial Neural Network) (Xi et al. 2014; Lei et al. 2014), SVM (Support Vector Machines) (Zhang et al. 2012; Song and Marsh 2012), decision tree (Chang 2011; Patel et al. 2015), and rough set theory (Cheng et al. 2010), opened up new approaches that allow analysts to incorporate more relevant information (Rajanish 2006; Song et al. 2014; Song and Vong 2013; Vong et al. 2012; Vong and Song 2015; Song 2015a, b). These new technologies allow ana- lysts to consider much larger amounts of data and build prediction models auto- matically using computers with less training (Rajanish 2006). In this paper, we will review existing techniques of financial analysis and machinelearningapproachesinordertoidentifynewopportunities.Inaddition,we propose a new method for predicting stock prices in a more accurate way using clusteringapproaches.Thisproposalisbasedonthefactthatmanystockpricesare correlated, and the awareness of those correlations can allow us to improve the previous models. This allows us to take into account more data and to diversify theirsourcesinordertoreducetheinaccuracyofpredictions.Infacttouseonlythe historicaldataofonlyonestockpriceissometimesveryriskyandalthoughleadto bad forecasting. The rest of the paper is organized as follows. In the next section, we review existingtechniquesoffinancialanalysisandmachinelearningapproaches.Wethen report on identified opportunities for researchers. In Sect. 3, we propose a new clustering method that determines the optimal number of clusters of related com- panies. In Sect. 4, we report on the analysis result and conclude the paper with remarks in Sect. 5.
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