Despite the importance of SMEs and increased knowledge in the area of strategic management, empirical research on small and medium sized enterprises (SMEs) in this area of management has not only been limited but also neglected. In an attempt to investigate the strategic factors that can influence the performance of SMEs, this study focuses on Malaysian exporting SMEs. This study adopts the conceptual framework in the context of strategic management. The conceptual framework is developed based on the strategic management variables; business strategy, distinctive capabilities and performance. The purpose of the study was to examine the relationship between the business strategy, distinctive capabilities and performance of Malyasian exporting SMEs. The study was based on a sample survey consisting of 150 Malaysian exporting SMEs, which is based on the listing provided by MATRADE. Using structured questionnaires, the data were collected through mailed questionnaires to the managers and owners of exporting SMEs throughout Malaysia. There were statistically significant differences in the performance of Malaysian exporting SMEs that adopted different business strategies, and there is a relationship between distinctive capabilities and performance of Malaysian exporting SMEs. / In general, all of the strategic variables used in this study significantly influence the performance of the exporting SMEs in Malaysia. Although there are different impacts of strategic factors on the various performance measures, in general the strategic factors used in this study seem to significantly influence the business performance of the Malaysian exporting SMEs studied. / Thesis (DoctorateofBusinessAdministration)--University of South Australia, 2005.

Despite the importance of SMEs and increased knowledge in the area of strategic management, empirical research on small and medium sized enterprises (SMEs) in this area of management has not only been limited but also neglected. In an attempt to investigate the strategic factors that can influence the performance of SMEs, this study focuses on Malaysian exporting SMEs. This study adopts the conceptual framework in the context of strategic management. The conceptual framework is developed based on the strategic management variables; business strategy, distinctive capabilities and performance. The purpose of the study was to examine the relationship between the business strategy, distinctive capabilities and performance of Malyasian exporting SMEs. The study was based on a sample survey consisting of 150 Malaysian exporting SMEs, which is based on the listing provided by MATRADE. Using structured questionnaires, the data were collected through mailed questionnaires to the managers and owners of exporting SMEs throughout Malaysia. There were statistically significant differences in the performance of Malaysian exporting SMEs that adopted different business strategies, and there is a relationship between distinctive capabilities and performance of Malaysian exporting SMEs. / In general, all of the strategic variables used in this study significantly influence the performance of the exporting SMEs in Malaysia. Although there are different impacts of strategic factors on the various performance measures, in general the strategic factors used in this study seem to significantly influence the business performance of the Malaysian exporting SMEs studied. / Thesis (DoctorateofBusinessAdministration)--University of South Australia, 2005.

Thesis (Ph.D.) -- McMaster University, 1997. / Includes bibliographical references (p. 328-332). Also available via World Wide Web.

Thesis (B.A.)--Haverford College, Dept. of Economics, 2008. / Includes bibliographical references.

Proefschrift--Utrecht. / "Overzicht van geraadpleegde archivalia en litteratuur": v. 1, p. [238]-250.

Proefschrift--Utrecht. / "Overzicht van geraadpleegde archivalia en litteratuur": v. 1, p. [238]-250.

Thesis (Ph. D.)--University of Washington, 2004. / Vita. Includes bibliographical references (leaves 269-283).

Thesis (Ph. D.)--Stanford University, 1986. / Includes bibliographical references (leaves 137-141).

Le but de cette thèse est de répondre au vrai besoin de prédire les fluctuations futures des prix d'actions. En effet, l'aléatoire régissant ces fluctuations constitue pour des acteurs de la finance, tels que les Market Maker, une des plus grandes sources de risque. Tout au long de cette étude, nous mettons en évidence la possibilité de réduire l'incertitude sur les prix futurs par l'usage des modèles mathématiques appropriés. Cette étude est rendue possible grâce à une grande base de données financières et une puissante grille de calcul mises à notre disposition par l'équipe Automatic Market Making de BNP Paribas. Dans ce document, nous présentons uniquement les résultats de la recherche concernant le trading haute fréquence. Les résultats concernant la partie basse fréquence présentent un intérêt scientifique moindre pour le monde académique et rentrent par ailleurs dans le cadre des résultats confidentiels. Ces résultats seront donc volontairement omis.Dans le premier chapitre, nous présentons le contexte et les objectifs de cette étude. Nous présentons, également, les différentes méthodes utilisées, ainsi que les principaux résultats obtenus. Dans le chapitre 2, nous nous intéressons à l'apport de la supériorité technologique en trading haute fréquence. Dans ce but, nous simulons un trader ultra rapide, omniscient, et agressif, puis nous calculons son gain total sur 3 ans. Les gains obtenus sont très modestes et reflètent l'apport limité de la technologie en trading haute fréquence. Ce résultat souligne l'intérêt primordial de la recherche et de la modélisation dans ce domaine.Dans le chapitre 3, nous étudions la prédictibilité des prix à partir des indicateurs de carnet d'ordre. Nous présentons, à l'aide des espérances conditionnelles, des preuves empiriques de dépendances statistiques entre les prix et les différents indicateurs. L'importance de ces dépendances résulte de la simplicité de la méthode, éliminant tout risque de surapprentissage des données. Nous nous intéressons, ensuite, à la combinaison des différents indicateurs par une régression linéaire et nous analysons les différents problèmes numériques et statistiques liés à cette méthode. Enfin, nous concluons que les prix sont prédictibles pour un horizon de quelques minutes et nous mettons en question l'hypothèse de l'efficience du marché.Dans le chapitre 4, nous nous intéressons au mécanisme de formation du prix à partir des arrivés des évènements dans le carnet d'ordre. Nous classifions les ordres en douze types dont nous analysons les propriétés statistiques. Nous étudions par la suite les dépendances entre ces différents types d'ordres et nous proposons un modèle de carnet d'ordre en ligne avec les observations empiriques. Enfin, nous utilisons ce modèle pour prédire les prix et nous appuyons l'hypothèse de la non-efficience des marchés, suggérée au chapitre 3. / The aim of this thesis is to address the real need of predicting the prices of stocks. In fact, the randomness governing the evolution of prices is, for financial players like market makers, one of the largest sources of risk. In this context, we highlight the possibility of reducing the uncertainty of the future prices using appropriate mathematical models. This study was made possible by a large base of high frequency data and a powerful computational grid provided by the Automatic Market Making team at BNP Paribas. In this paper, we present only the results of high frequency tests. Tests are of less scientific interest in the academic world and are confidential. Therefore, these results will be deliberately omitted.In the first chapter, the background and the objectives of this study are presented along with the different methods used and the main results obtained.The focus of chapter 2 is on the contribution of technological superiority in high frequency trading. In order to do this, an omniscient trader is simulated and the total gain over three years is calculated. The obtained gain is very modest and reflects the limited contribution of technology in high frequency trading. This result underlines the primary role of research and modeling in this field.In Chapter 3, the predictability of prices using some order book indicators is studied. Using conditional expectations, the empirical evidence of the statistical dependencies between the prices and indicators is presented. The importance of these dependencies results from the simplicity of the method, eliminating any risk of over fitting the data. Then the combination of the various indicators is tested using a linear regression and the various numerical and statistical problems associated with this method are analyzed. Finally, it can be concluded that the prices are predictable for a period of a few minutes and the assumption of market efficiency is questioned.In Chapter 4, the mechanism of price formation from the arrival of events in the order book is investigated. The orders are classified in twelve types and their statistical properties are analyzed. The dependencies between these different types of orders are studied and a model of order book in line with the empirical observations is proposed. Finally, this model is used to predict prices and confirm the assumption of market inefficiency suggested in Chapter 3.

M.Sc. / Advancements in technology used in financial markets have led to substantial automation of tasks within the financial industry. Data analysis, trade execution and trade processing have been automated, reducing costs and increasing productivity. Algorithmic trading is the automated execution of trades on an electronic trading platform; it has been used to gain competitive advantage in financial markets since the early 1990s. Algorithmic trading applications, which must analyse information and determine whether to buy or sell, are well suited to the use of autonomous software agents. Multi-agent systems are better suited to the increasing complexity of algorithmic trading systems and the flexibility required by rapidly changing markets than single-agent systems. The granularity of components (agents) in multi-agent systems also promotes reuse and simplifies individual agent design. Algorithmic trading is, however, subject to challenges specifically in terms of data volume, speed of access and speed of processing. In order to utilise a multi-agent system solution the interactions between agents which allow distributed problem solving must be as efficient as possible. This dissertation investigates the use of indirect coordination to improve the efficiency of interactions between agents in multi-agent systems and to simplify agent design. Indirect coordination utilises environment abstractions known as artefacts to facilitate interaction between agents; such interaction can be simple data transfer or requests, complex coordination protocols as well as negotiation protocols. The investigation resulted in a framework that allows agents to transition between direct and indirect interaction techniques based on the specific interaction task at hand. The framework is built on two existing platforms, ii Java Agent DEvelopment Framework (JADE) and Common ARTifact Infrastructure for AGents Open environments (CARTAGO). These platforms are combined into the JADE-CARTAGO Algorithmic Trading (JCAT) framework that provides the infrastructure needed for both direct and indirect interactions. Investigations into the performance of the JCAT framework have shown that artefacts improve interaction efficiency by reducing data loss in tasks such as information publishing, and perform as well as direct communication within certain constraints for other tasks. When limiting the number of agents in an interaction to 50 agents, artefacts perform at least as well as direct communication using agent communication language messages.