Search results for: banking operations

Authors: Busra Gulnihan Dascıoglu, Ozalp Vayvay, Zeynep Tugce Kalender

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Humanitarian supply chain management has gain popularity in recent years in research fields. The aim of this paper is to review the literature on humanitarian operations and crisis/disaster management from 2010 to latest researches in order to identify the current research and to provide direction for future research in this growing field. Researches are classified considering the research publication year, research fields. Articles from humanitarian supply chain management were reviewed, keywords were identified within a disaster management lifecycle framework. Research gaps are identified for future research areas.

Keywords: crisis, disaster, humanitarian supply chain management, relief operations

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Authors: Vishnu Nagendra, Marten Van Der Veen, Stefania Giodini

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Effective humanitarian logistics operations are a cornerstone in the success of disaster relief operations. However, for effectiveness, they need to be demand driven and supported by adequate data for prioritization. Without this data operations are carried out in an ad hoc manner and eventually become chaotic. The current availability of geospatial data helps in creating models for predictive damage and vulnerability assessment, which can be of great advantage to logisticians to gain an understanding on the nature and extent of the disaster damage. This translates into actionable information on the demand for relief goods, the state of the transport infrastructure and subsequently the priority areas for relief delivery. However, due to the unpredictable nature of disasters, the accuracy in the models need improvement which can be done using remote sensing data from UAVs (Unmanned Aerial Vehicles) or satellite imagery, which again come with certain limitations. This research addresses the need for a framework to combine data from different sources to support humanitarian logistic operations and prediction models. The focus is on developing a workflow to combine data from satellites and UAVs post a disaster strike. A three-step approach is followed: first, the data requirements for logistics activities are made explicit, which is done by carrying out semi-structured interviews with on field logistics workers. Second, the limitations in current data collection tools are analyzed to develop workaround solutions by following a systems design approach. Third, the data requirements and the developed workaround solutions are fit together towards a coherent workflow. The outcome of this research will provide a new method for logisticians to have immediately accurate and reliable data to support data-driven decision making.

Keywords: unmanned aerial vehicles, damage prediction models, remote sensing, data driven decision making

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Authors: Abdulmajid Mukhtar Afat

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This paper aims at introducing nondeterministic finite automata with ε value which is used to perform some operations on languages. a program is created to implement the algorithm that converts nondeterministic finite automata with ε value (ε-NFA) to deterministic finite automata (DFA).The program is written in c++ programming language. The program inputs are FA 5-tuples from text file and then classifies it into either DFA/NFA or ε -NFA. For DFA, the program will get the string w and decide whether it is accepted or rejected. The tracking path for an accepted string is saved by the program. In case of NFA or ε-NFA automation, the program changes the automation to DFA to enable tracking and to decide if the string w exists in the regular language or not.

Keywords: DFA, NFA, ε-NFA, eclose, finite automata, operations on languages

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Authors: Zhifu Li, Lei Li, Wanting Zhou, Yuanhang He

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This paper proposed a lightweight certificate-less authentication and key exchange protocol (Light-CL-PKC) based on elliptic curve cryptography and the Chinese Remainder Theorem for smart home scenarios. Light-CL-PKC can efficiently reduce the computational cost of both sides of authentication by forgoing time-consuming bilinear pair operations and making full use of point-addition and point-multiplication operations on elliptic curves. The authentication and key exchange processes in this system are also completed in a a single round of communication between the two parties. The analysis result demonstrates that it can significantly minimize the communication overhead of more than 32.14% compared with the referenced protocols, while the runtime for both authentication and key exchange have also been significantly reduced.

Keywords: authentication, key exchange, certificateless public key cryptography, elliptic curve cryptography

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Authors: Emilia Klepczarek

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The Basel Committee on Banking Supervision and the OECD found problems with the mechanisms of corporate governance as one of the major causes of destabilization of the financial system and the subprime crisis in the years 2007-2010. In response to these allegations, there were formulated a number of recommendations aimed at improving the quality of supervisory standards in financial institutions. They relate mainly to risk management, remuneration policy, the competence of managers and board members and transparency issues. Nevertheless, a review of the empirical research conducted by the author does not allow for an unambiguous confirmation of the positive impact of the postulated standards on the stability of banking entities. There is, therefore, a presumption of the existence of hidden variables determining the effectiveness of the governance mechanisms. According to the author, this involves concepts arising from behavioral economics and economic anthropology, which allow for an explanation of the effectiveness of corporate governance institutions on the basis of the socio-cultural profile of its members. The proposed corporate governance culture theory indicates that the attributes of the members of the organization and organizational culture can determine the different effectiveness level of the governance processes in similar formal corporate governance structures. The aim of the presentation is, firstly, to draw attention to the vast discrepancies existing within the results of research on the effectiveness of the standards of corporate governance in the banking sector. Secondly, the author proposes an explanation of these differences on the basis of governance theory breaking with common paradigms. The corporate governance culture theory is focused on the identity of the individual and the scope of autonomy offered within his or her institution. The coexistence of these two conditions - the adequate behavioral profile and enough freedom to decide - is a prerequisite for the efficient functioning of the institutions of corporate governance, which can contribute to rehabilitating and strengthening the stability of the financial sector.

Keywords: autonomy, corporate governance, efficiency, governance culture

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Authors: Sunil Chaudhary, Rajendra Bahadur Thapa, Eleni Berki, Marko Helenius

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The increasing number of Internet and mobile phone users, and essentially those, who use these electronic media to perform online transactions makes Nepal lucrative for phishing attacks. It is one of the reasons behind escalating phishing attacks in the country. Therefore, in this paper we examine various phishing attempts and real scenarios in Nepal to determine the seriousness of the problem. We also want to find out how prepared are the Internet and mobile phone users and how well-equipped are the private sector and government authorities responsible to handle cybercrime in the country. We considered five areas of research study, i.e., legal measures, technical and procedural measures, organizational structure, capacity building and international cooperation. These constitute important factors in cyber security and are recommended by the Global Cyber security Agenda (GCA). On the basis of our findings, we provide essential suggestions to make anti-phishing measures more appropriate to Nepalese State and society.

Keywords: internet banking, mobile banking, e-commerce, phishing, anti-phishing, Nepal

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Authors: Tomola Obamuyi

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The banking system in Nigeria adopted innovative banking, with the aim of enhancing financial inclusion, and making financial services readily and cheaply available to majority of the people, and to contribute to the efficiency of the financial system. Some of the innovative services include: Automatic Teller Machines (ATMs), National Electronic Fund Transfer (NEFT), Point of Sale (PoS), internet (Web) banking, Mobile Money payment (MMO), Real-Time Gross Settlement (RTGS), agent banking, among others. The introduction of these payment systems is expected to increase bank efficiency and customers' satisfaction, culminating in better performance for the commercial banks. However, opinions differ on the possible effects of the various innovative payment systems on the performance of commercial banks in the country. Thus, this study empirically determines how commercial banks use innovation to gain competitive advantage in the specific context of Nigeria's finance and business. The study also analyses the effects of financial innovation on the performance of commercial banks, when different periods of analysis are considered. The study employed secondary data from 2009 to 2018, the period that witnessed aggressive innovation in the financial sector of the country. The Vector Autoregression (VAR) estimation technique forecasts the relative variance of each random innovation to the variables in the VAR, examine the effect of standard deviation shock to one of the innovations on current and future values of the impulse response and determine the causal relationship between the variables (VAR granger causality test). The study also employed the Multi-Criteria Decision Making (MCDM) to rank the innovations and the performance criteria of Return on Assets (ROA) and Return on Equity (ROE). The entropy method of MCDM was used to determine which of the performance criteria better reflect the contributions of the various innovations in the banking sector. On the other hand, the Range of Values (ROV) method was used to rank the contributions of the seven innovations to performance. The analysis was done based on medium term (five years) and long run (ten years) of innovations in the sector. The impulse response function derived from the VAR system indicated that the response of ROA to the values of cheques transaction, values of NEFT transactions, values of POS transactions was positive and significant in the periods of analysis. The paper also confirmed with entropy and range of value that, in the long run, both the CHEQUE and MMO performed best while NEFT was next in performance. The paper concluded that commercial banks would enhance their performance by continuously improving on the services provided through Cheques, National Electronic Fund Transfer and Point of Sale since these instruments have long run effects on their performance. This will increase the confidence of the populace and encourage more usage/patronage of these services. The banking sector will in turn experience better performance which will improve the economy of the country. Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression,

Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression

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Authors: Hafiz Md. Hasan Babu, Khandaker Mohammad Mohi Uddin, Nitish Biswas, Sarreha Tasmin Rikta, Nuzmul Hossain Nahid

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Nanomedicine and bioengineering use biological systems that can perform computing operations. In a biocomputational circuit, different types of biomolecules and DNA (Deoxyribose Nucleic Acid) are used as active components. DNA computing has the capability of performing parallel processing and a large storage capacity that makes it diverse from other computing systems. In most processors, the multiplier is treated as a core hardware block, and multiplication is one of the time-consuming and lengthy tasks. In this paper, cost-effective DNA multipliers are designed using algorithms of molecular DNA operations with respect to conventional ones. The speed and storage capacity of a DNA multiplier are also much higher than a traditional silicon-based multiplier.

Keywords: biological systems, DNA multiplier, large storage, parallel processing

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Authors: Shazwanis Shukri

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The Mediterranean Sea, at the crossroads of three continents has always been the focus of pan-European and worldwide attention. Over the past decade, the Mediterranean Sea has become a hotbed for irregular migration particularly from the African continent toward the Europe. Among the major transit routes in the Mediterranean Sea include the Strait of Gibraltar, Canary Island and island of Lampedusa. In recent years, Mediterranean Sea has witnessed significant numbers of accidents and shipwrecks involving the irregular migrants and refugees trying to reach Europe via the sea. The shipwrecks and traffickers exploitation of migrants draw most of the attention particularly for the European Union (EU). This incident has been a wakeup call for the EU and become the top political agenda in the EU policy to tackle irregular migration and human smuggling at sea. EU has repeatedly addressed irregular migration as one of the threats the EU and its citizens may be confronted with and therefore immediate measures are crucial to tackle the crisis. In light of this, various initiatives have been adopted by the EU to strengthen external border control and restrict access to irregular migrants, notably through the enforcement of Frontex and Eunavfor Med. This paper analyses current development of counter-migration operations by the EU in response to migration crisis in the Mediterranean Sea. The analysis is threefold. First, this study examines the patterns and trends of irregular migration’s movements from recent perspective. Second, this study concentrates on the evolution of the EU operations that are in place in the Mediterranean Sea, notably by Frontex and Eunavfor Med to curb the influx of irregular migrants to the European countries, including, among others, Greece and Italy. Third, this study investigates the EU approaches to fight against the proliferation of human trafficking networks at sea. This study is essential to determine the roles of the EU in tackling migration crisis and human trafficking in the Mediterranean Sea and the effectiveness of their counter-migration operations to reduce the number of irregular migrants travelling via the sea. Elite interviews and document analysis were used as a methodology in this study. The study discovers that the EU operations have successfully contributed to reduce the numbers of irregular migrant’s arrival to Europe. The study also shows that the operations were effective to disrupt smugglers business models particularly from Libya. This study provides essential understanding about the roles of the EU not limited to tackle the migration crisis and disrupt trafficking networks, but also pledged to prevent further loss of lives at sea.

Keywords: European union, frontex, irregular migration, Mediterranean sea

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Authors: Jay Martin L. Dionaldo

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This study aimed to develop a causal model on the performance of the basic education teachers in the Division of Malaybalay City for the school year 2018-2019. This study used the responses of 300 randomly selected basic education teachers of Malaybalay City, Bukidnon. They responded to the three sets of questionnaires patterned from the National Education Association (2018) on instructional leadership of teachers, the questionnaire of Caluza et al., (2017) for information and communications technology competencies and the questionnaire on the teachers’ performance using the Individual Performance Commitment and Review Form (IPCRF) adopted by the Department of Education (DepEd). Descriptive statistics such as mean for the description, correlation for a relationship, regression for the extent influence, and path analysis for the model that best fits teachers’ performance were used. Result showed that basic education teachers have a very satisfactory level of performance. Also, the teachers highly practice instructional leadership practices in terms of coaching and mentoring, facilitating collaborative relationships, and community awareness and engagement. On the other hand, they are proficient users of ICT in terms of technology operations and concepts and basic users in terms of their pedagogical indicators. Furthermore, instructional leadership, coaching and mentoring, facilitating collaborative relationships and community awareness and engagement and information and communications technology competencies; technology operations and concept and pedagogy were significantly correlated toward teachers’ performance. Coaching and mentoring, community awareness and engagement, and technology operations and concept were the best predictors of teachers’ performance. The model that best fit teachers’ performance is anchored on coaching and mentoring of the teachers, embedded with facilitating collaborative relationships, community awareness, and engagement, technology operations, and concepts, and pedagogy.

Keywords: information and communications technology, instructional leadership, coaching and mentoring, collaborative relationship

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Authors: Zheng Ruoyuan

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With the rapid development of economic globalization and increasingly fierce international competition, multinational companies have carried out investment strategy shifts and innovations, and actively promoted localization strategies. Localization strategies have become the main trend in the development of multinational companies. Large-scale entry of multinational companies China has a history of more than 20 years. With the sustained and steady growth of China's economy and the optimization of the investment environment, multinational companies' investment in China has expanded rapidly, which has also had an important impact on the Chinese economy: promoting employment, foreign exchange reserves, and improving the system. etc., has brought a lot of high-tech and advanced management experience; but it has also brought challenges and survival pressure to China's local enterprises. In recent years, multinational companies have gradually regarded China as an important part of their global strategies and began to invest in China. Actively promote localization strategies, including production, marketing, scientific research and development, etc. Many multinational companies have achieved good results in localized operations in China. Not only have their benefits continued to improve, but they have also established a good corporate image and brand in China. image, which has greatly improved their competitiveness in the international market. However, there are also some multinational companies that have difficulties in localized operations in China. This article will closely follow the background of economic globalization and comprehensively use the theory of multinational companies and strategic management theory and business management theory, using data and facts as the entry point, combined with typical cases of representative significance for analysis, to conduct a systematic study of the localized operations of multinational companies in China. At the same time, for each specific link of the operation of multinational companies, we provide multinational enterprises with some inspirations and references.

Keywords: localization, business management, multinational, marketing

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Authors: Ramon Erasmo Verdin Rodriguez

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Many has been the ways that historically the managers and gurus has been trying to get closer to the perfect supply chain, but since this topic is so vast and very complex the bigger the companies are, the duty has not been certainly easy. On this research, you are going to see thru the entrails of the logistics that happens at a glass manufacturing company with the number one raw material of the process that is the silica sand. After a very quick passage thru the supply chain, this document is going to focus on the way that raw materials flow thru the system, so after that, an analysis and research can take place to improve the logistics. Thru Operations Research techniques, it will be analyzed the current scheme of distribution and inventories of raw materials at a glass company’s plants, so after a mathematical conceptualization process, the supply chain could be optimized with the purpose of reducing the uncertainty of supply and obtaining an economic benefit at the very end of this research.

Keywords: inventory management, operations research, optimization, supply chain

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Authors: Izabela Nowicka, Jacek Dworzecki

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The paper will be presented to selected legal and organizational solutions for the prevention and combating of terrorism by the police in Poland. Development will include information on the organization and functioning of the police anti-terrorist sub-units, whose officers are on the front line of the fight against terrorism. They will be presented to the conditions and cases of use of firearms by police officers in the course of special operations aimed against organizations and terrorist groups, and the perpetrators of criminal acts of terrorism as well as the legal foundation for the Polish police to take immediate counterterrorism operations. Article will be prepared in the context of an international research project entitled. Understand the Dimensions of Organised Crime and Terrorist Networks for Developing Effective and Efficient Security Solutions for First-line-practitioners and Professionals [Project: H2020-FCT-2015, No: 700688].

Keywords: the fight against terrorism, police, Poland, takedown

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Authors: Zidane Abderrezzaq

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In contrast to recent successful developments in macro monetary policies, the modelling, measurement and management of systemic financial stability has remained problematical. Indeed, the focus of most effort has been on improving individual, rather than systemic, bank risk management; the Basel II objective has been to bring regulatory bank capital into line with the (sophisticated) banks’ assessment of their own economic capital. Even at the individual bank level there are concerns over appropriate diversification allowances, differing objectives of banks and regulators, the need for a buffer over regulatory minima, and the distinction between expected and unexpected losses (EL and UL). At the systemic level the quite complex and prescriptive content of Basel II raises dangers of ‘endogenous risk’ and procyclicality. Simulations suggest that this latter could be a serious problem. In an extension to the main analysis we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tiering) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out.

Keywords: systemic stability, financial regulation, credit risk, systemic risk

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Authors: Harold Jideofor

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Wastewater treatment consists of applying known technology to improve or upgrade the quality of a wastewater. Usually wastewater treatment will involve collecting the wastewater in a central, segregated location (the Wastewater Treatment Plant) and subjecting the wastewater to various treatment processes. Most often, since large volumes of wastewater are involved, treatment processes are carried out on continuously flowing wastewaters (continuous flow or "open" systems) rather than as "batch" or a series of periodic treatment processes in which treatment is carried out on parcels or "batches" of wastewaters. While most wastewater treatment processes are continuous flow, certain operations, such as vacuum filtration, involving storage of sludge, the addition of chemicals, filtration and removal or disposal of the treated sludge, are routinely handled as periodic batch operations.

Keywords: wastewater treatment, environmental engineering, waste water

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Authors: Zeynep Aykul Yavuz

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Misconception about design is about making a product pretty. However, the holistic approaches such as design thinking or human-centered design could take the design from making things nice to things inspired by real people and work with real-world limitations. Design thinking helps companies to understand not only problem area but also opportunities. It can be used by any people from any background which provide a space for companies where employees from different departments work together to solve the same problem. While demanding skills changing year to year into the market, previous technical skills are commons anymore. The frontier companies in the sectors look for interactive methods to solve problems. Moreover, the recruiter aims to understand the candidate’s design thinking skills (. The study includes a case study where a 21st century creative services company “ATÖLYE” offers innovation transformation with design thinking to a banking company. Both companies are located in İstanbul in Turkey. The banking company contacted with the ATÖLYE in January 2018 because they heard design thinking in different markets and how it transformed the way of working. The transformation process had 3 phases which were basic training of teams while getting coaching from ATÖLYE’s employees, coaching training with graduates of basic training, facilitator training. Employees built new skills while solving the banking company’s strategic problems. ATÖLYE offered experiential learning which helped employees’ making sense of new skills and knowledge. One day workshops were organized to create awareness about the practice of design thinking. In addition to these, a community of practice was built to create an environment to make reflections and discuss good practice. Not only graduates from the training program but also other employees from the company participated in the community gatherings. ATÖLYE did not train some employees in the company. Rather than that, its aim was to build a contemporary organization for the company. This provided a sustainable system in terms of human resources and motivation. At the beginning of 2020, employees from the first cohort in the basic training who took coaching training and facilitator training have started to design training for different groups in the company. They have considered what could be better in their training experience and designed new ones according to that, so they have been using design thinking to design the design training. This is one of the outcomes which shows the impact of all process clearly.

Keywords: design thinking, learning community, professional development, training, organizational transformation

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Authors: Aqeel Akhtar

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One of prevailing modes of finance in emerging Islamic banking system is Murabah’a; a financial transaction in which cost and profit both must be recognized by buyer. Otherwise the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (SAW), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency, however, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: shariah compliance, import murabaha, islamic banking, product development

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Authors: Jeremy Schultz

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The purpose of this study was to understand the perceptions of vineyard managers in the Krasnodar Region of Southern Russia located between the city of Kransnodar and the Black Sea. In recent years, wine tourism throughout the region has seen tremendous growth due in part to the concurrent growth in the number of tourists vacationing at the Black Sea. This trend has contributed to the development of large-scale wine operations developing in numerous rural locations along the tourists’ travel path. Niche areas of tourism, such as wine tourism, have proven to provide economic viability for rural communities all around the world. Understanding their shared group characteristics while honoring their unique qualities as individuals aids in responsible wine tourism development that provides a sense of well-being for the communities and stakeholders involved. Semi-structured interviews and lived experience methodologies were used in locations that were associated with wine food tourism operations. By understanding management perspectives, it lends insight into sustainable destination management and wine tourism product development, furthering our progress toward ethical, responsible, and financially feasible operations. This research also represents a collaborative effort between Russia and the United States that supports an agenda of sustainable destination development and management. As a global community, we need to continue to investigate stakeholder perceptions and strategic management techniques that best support the pillars upon which responsible tourism was founded.

Keywords: wine tourism, tourism development, Russia, rural tourism

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Authors: Poonam Magu, Kumud Khanna, P. Seetharaman

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A kitchen is a major workplace in any home. A large variety of tasks, mainly related to meal preparation is performed here. The types of activities performed are varied and vast. In a way, it is the activities performed that determine the way the space within the kitchen is going to be utilised. A study was conducted in 510 Indian kitchens belonging to middle-income group families living in Delhi. It was conducted in three phases. In the first phase, 510 non-working homemakers were interviewed and questions pertaining to their personal characteristics, meal preparation and physical aspects related to the kitchen were asked. In the second phase, the technique of Path Process Chart was developed. Subsequently, a sub-sample of 50 homemakers was selected from the larger group. The activity of meal preparation was carried out by the homemakers themselves in their kitchens. A time and motion study was conducted using the technique of Path Process Chart. The results were analysed using the appropriate analysis sheets and conclusions were drawn. It was found that the entire kitchen and more specifically, the counter had been 'divided' into a number of workplaces. These workplaces were being used either for performing operations or for the purpose of storage. In many cases, it was used for both. On the whole, in 50 kitchens studied, 21 workplaces were identified which were used for performing operations related to meal preparation and 17 for storage It was also observed that almost the entire kitchen was used for the purpose of storage of some item or the other. The major workplaces where operations were performed were the range, workplaces to the right and left of range and sink and workplaces to the right or left of the sink. The same workplaces were also used for the purpose of storage. There were some workplaces outside the kitchen too, which were used for operations or storage. These were the dining table, courtyard or balcony, bedroom cupboard. On the whole, the range centre and the sink centre were found to be the two most important centres in an Indian kitchen belonging to urban middle-income group family.

Keywords: kitchen, workplace, meal preparation, path process chart

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Authors: Hee-Choul Kwon, Heeyong Kwon

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Image rotation is one of main pre-processing steps for image processing or image pattern recognition. It is implemented with a rotation matrix multiplication. It requires a lot of floating point arithmetic operations and trigonometric calculations, so it takes a long time to execute. Therefore, there has been a need for a high speed image rotation algorithm without two major time-consuming operations. However, the rotated image has a drawback, i.e. distortions. We solved the problem using an augmented two-step shear transform. We compare the presented algorithm with the conventional rotation with images of various sizes. Experimental results show that the presented algorithm is superior to the conventional rotation one.

Keywords: high-speed rotation operation, image rotation, transform matrix, image processing, pattern recognition

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Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the non-financial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as: Financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation

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Authors: Ratna Kuswardani

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This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

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Authors: Chinedu Peter, Dashrath Singh

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Membrane computing is a computability model which abstracts its structures and functions from the biological cell. The main ingredient of membrane computing is the notion of a membrane structure, which consists of several cell-like membranes recurrently placed inside a unique skin membrane. The emergence of several variants of membrane computing gives rise to the notion of a P system. The paper presents a variant of P systems for arithmetic operations on non-negative integers based on the weak priorities for rule application. Consequently, we obtain deterministic P systems. Two membranes suffice. There are at most four objects for multiplication and five objects for division throughout the computation processes. The model is simple and has a potential for possible extension to non-negative integers and real numbers in general.

Keywords: P system, binary operation, determinism, weak rule priority

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: Yong-Kyu Jung

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The fast growth in information technology has led to de-mands to access/process data. CPSs heavily depend on the time of hardware/software operations and communication over the network (i.e., real-time/parallel operations in CPSs (e.g., autonomous vehicles). Since data processing is an im-portant means to overcome the issue confronting data management, reducing the gap between the technological-growth and the data-complexity and channel-bandwidth. An adaptive perpetual data approximation method is intro-duced to manage the actual entropy of the digital spectrum. An ADAC implemented as an accelerator and/or apps for servers/smart-connected devices adaptively rescales digital contents (avg.62.8%), data processing/access time/energy, encryption/decryption overheads in AI/ML applications (facial ID/recognition).

Keywords: adaptive codec, AI, ML, HPC, cyber-physical, cybersecurity

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Authors: Malik Shahzad Shabbir, Muhammad Saarim Ghazi, Amir Khalil ur Rehman

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This study examines the factors which influence and contribute towards the financial viability of Islamic finance and its impact on global financial stability. However, the purpose of this paper is to differentiate the practical implications of both Islamic and conventional finance on global financial stability. The Islamic finance is asset backed financing which creates wealth through trade, commerce and believes in risk and return sharing. Islamic banking is asset driven as against to conventional banking which is liability driven. In order to introduce new financial products for market, financial innovation in Islamic finance must be within the Shari’ah parameters that are tested against the ‘Maqasid al-Shari’ah’. Interest-based system leads to income and wealth inequalities and mis-allocation of resources. Moreover, this system has absence of just and equitable aspect of distribution that may exploit either the debt holder or the financier. Such implications are reached to a tipping point that leaves only one choice: change or face continued decline and misery.

Keywords: viability, global financial stability, practical implications, asset driven, tipping point

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Authors: Chuan-Ming Tung, Tzu-Chiao Yuan

Abstract:

This research aims to construct the supply indicators and weights of shelter space from a perspective of the needs of the elderly by virtue of literature review, a systematical compilation of related regulations, and the use of the Analytical Hierarchy Process method, the questionnaires regarding the indicators filled out by 16 experts and scholars. The researcher then used 3 schools and 2 activity centers in Banqiao District, New Taipei City, as study cases to evaluate the ‘friendliness’ degree/level for the supply of shelters meeting the needs of elderly people. The supply evaluation indicators of friendly shelters meeting the needs of the elderly include "Administrative Operations and Service Needs" and "Residence-related and Living Needs"; under the "Administrative Operations and Service Needs" are "Management Operations and Information Provision", "Shelter Space Preparedness and Logistics Support", "Medical Care and Social Support", and "Shelters and Medical Environment", a total of 17 assessment items in four indicators, while under the "Residence-related and Living Needs" are "Dietary Needs", "Sleep Needs", "Hygiene and Sanitation Needs", "Accessibility and Convenience Needs ", etc., a total of 18 assessment items in four indicators. The results show that "Residence-related and Living Needs" is the most important item in the main levels of the supply indicators of the needs for friendly shelters to elderly people (weigh value 0.5504), followed by "Administrative Operations and Service Needs" (0.4496). The order of importance of the supply indicators of friendly shelters for the needs of elderly people is as follows: "Hygiene and Sanitation Needs" (0.1721), "Dietary Needs" (0.1340), "Medical Care and Social Support" (0.1300), "Sleep Needs" (0.1277), "Accessibility and Convenience Needs" (0.1166), "Basic Environment of Shelters" (0.1145), "Shelter Space Preparedness and Logistics Support" (0.1115) and "Management Operations and Information Provision" (0.0936). In addition, it can be noticed from the results of the case evaluation that the provision of refuges and shelters, mainly from schools and activity centers, is extremely inadequate for the needs of the elderly. In a set of comprehensive comparisons and contrasts, the evaluation indicators of refuges and shelters that need to be improved are "Medical Care and Social Support", "Hygiene and Sanitation Needs", "Sleep Needs", "Dietary Needs", and "Shelter Space Preparedness and Logistics Support".

Keywords: needs of the elderly people, urban shelters, evaluation indicators/indices., taiwan

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Authors: Seyed Mohsen Samaei, Shirley Gato-Trinidad

Abstract:

A pre-treatment stage prior to reverse osmosis (RO) is very important to ensure the long-term performance of the RO membranes in any wastewater treatment using RO. This study aims to evaluate the application of the Actiflo^® clarifier as part of a pre-treatment unit in mining operations. It involves performing analytical testing on RO feed water before and after installation of Actiflo^® unit. Water samples prior to RO plant stage were obtained on different dates from Costerfield mining operations in Victoria, Australia. Tests were conducted in an independent laboratory to determine the concentration of various compounds in RO feed water before and after installation of Actiflo^® unit during the entire evaluated period from December 2015 to June 2018. Water quality analysis shows that the quality of RO feed water has remarkably improved since installation of Actiflo^® clarifier. Suspended solids (SS) and turbidity removal efficiencies has been improved by 91 and 85 percent respectively in pre-treatment system since the installation of Actiflo^®. The Actiflo^® clarifier proved to be a valuable part of pre-treatment system prior to RO. It has the potential to conveniently condition the mining wastewater prior to RO unit, and reduce the risk of RO physical failure and irreversible fouling. Consequently, reliable and durable operation of RO unit with minimum requirement for RO membrane replacement is expected with Actiflo^® in use.

Keywords: ACTIFLO ® clarifier, mining wastewater, reverse osmosis, water treatment

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Authors: Manop Aorpimai, Ponthep Navakitkanok

Abstract:

In this paper, the development of the ephemeris generation module used for the Thaichote satellite operations is presented. It is a vital part of the flight dynamics system, which comprises, the orbit determination, orbit propagation, event prediction and station-keeping maneuver modules. In the generation of the spacecraft ephemeris data, the estimated orbital state vector from the orbit determination module is used as an initial condition. The equations of motion are then integrated forward in time to predict the satellite states. The higher geopotential harmonics, as well as other disturbing forces, are taken into account to resemble the environment in low-earth orbit. Using a highly accurate numerical integrator based on the Burlish-Stoer algorithm the ephemeris data can be generated for long-term predictions, by using a relatively small computation burden and short calculation time. Some events occurring during the prediction course that are related to the mission operations, such as the satellite’s rise/set viewed from the ground station, Earth and Moon eclipses, the drift in ground track as well as the drift in the local solar time of the orbital plane are all detected and reported. When combined with other modules to form a flight dynamics system, this application is aimed to be applied for the Thaichote satellite and successive Thailand’s Earth-observation missions.

Keywords: flight dynamics system, orbit propagation, satellite ephemeris, Thailand’s Earth Observation Satellite

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Authors: John Hardy

Abstract:

The domestic security environment in Europe has changed dramatically in recent years. Since January 2015, a significant number of domestic security threats that emerged in Europe were located in Belgium, France and the United Kingdom. While some threats were detected in the planning phase, many also resulted in terrorist attacks. Authorities in all three countries instituted special or emergency measures to provide additional security to their populations. Each country combined an additional policing presence with a specific military operation to contribute to a comprehensive security response to domestic threats. This study presents a cross-case analysis of three countries’ civilian and military responses to domestic security threats in Europe. Each case study features a unique approach to combining civilian and military capabilities in similar domestic security operations during the same time period and threat environment. The research design focuses on five variables relevant to the relationship between civilian and military roles in each security response. These are the distinction between policing and military roles, the legal framework for the domestic deployment of military forces, prior experience in civil-military coordination, the institutional framework for threat assessments, and the level of public support for the domestic use of military forces. These variables examine the influence of domestic social, political, and legal factors on the design of combined civil-military operations in response to domestic security threats. Each case study focuses on a specific operation: Operation Vigilant Guard in Belgium, Operation Sentinel in France, and Operation Temperer in the United Kingdom. The results demonstrate that the level of distinction between policing and military roles and the existence of a clear and robust legal framework for the domestic use force by military personnel significantly influence the design and implementation of civilian and military roles in domestic security operations. The findings of this study indicate that Belgium, France and the United Kingdom experienced different design and implementation challenges for their domestic security operations. Belgium and France initially had less-developed legal frameworks for deploying the military in domestic security operations than the United Kingdom. This was offset by public support for enacting emergency measures and the strength of existing civil-military coordination mechanisms. The United Kingdom had a well-developed legal framework for integrating civilian and military capabilities in domestic security operations. However, its experiences in Ireland also made the government more sensitive to public perceptions regarding the domestic deployment of military forces.

Keywords: counter-terrorism, democracy, homeland security, intelligence, militarization, policing

Procedia PDF Downloads 110