Search results for: cost of equity capital

Authors: Wenlong Liu, Ru Zhang, Wangjie Li, Shenghui Sang

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The boom of smart cities in the age of population aging has caused concerns about the subjective well-being of the elderly. By employing the data from China Health and Retirement Longitudinal Study (CHARLS) 2015, this study uses an ordinary least square to analyze the influence of smart city development on the subjective well-being of the elderly in China. The results of this study suggest that smart cities will improve the life satisfaction of the elderly but reduce their happiness of them. In terms of the moderating effect, social capital negatively moderates the impact of the smart city on the subjective well-being of the elderly. Combined with the results of heterogeneous analysis, it is found that smart city has a stronger impact on the subjective well-being of the elderly with lower levels of personal social capital. To sum up, in the context of the country's vigorous promotion of smart city development, society and families should actively help the elderly to improve their social capital level, enhance the subjective well-being of the elderly, and alleviate the negative effects of smart city development, thereby improving the quality of life of the elderly.

Keywords: the elderly, smart city, social capital, subjective well-being

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Authors: Siti Mariani, Arwin DW Sumari, Retno Gumilang Dewi

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This paper analyzes the necessity of a structured tariff calculation for geothermal electricity in Indonesia. Indonesia is blessed with abundant natural resources and a choices of energy resources to generate electricity among other are coal, gas, biomass, hydro to geothermal, creating a fierce competition in electricity tariffs. While geothermal is inline with energy security principle and green growth initiative, it requires a huge capital funding. Geothermal electricity development consists of phases of project with each having its own financial characteristics. The Indonesian government has set a support in the form of ceiling price of geothermal electricity tariff by 11 U.S cents / kWh. However, the government did not set a levelized cost of geothermal, as an indication of lower limit capacity class, to which support is given. The government should establish a levelized cost of geothermal energy to reflect its financial capability in supporting geothermal development. Aside of that, the government is also need to establish a structured tariff calculation to reflect a fair and transparent business cooperation.

Keywords: load fator, levelized cost of geothermal, geothermal power plant, structured tariff calculation

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Authors: Eliane Abdo, Olivier Colot

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SMEs are always considered as a national priority due to their contribution to job creation, innovation and growth. Once the start-up phase is crossed with encouraging results, the company enters the phase of growth. In order to improve its competitiveness, maintain and increase its market share, the company is in the necessity even the obligation to develop its tangible and intangible investments. SMEs are generally closed companies with special and critical financial situation, limited resources and difficulty to access the capital markets; their shareholders are always living in a conflict between their independence and their need to increase capital that leads to the entry of new shareholder. The capital structure was always considered the core of research in corporate finance; moreover, the financial crisis and its repercussions on the credit’s availability, especially for SMEs make SME financing a hot topic. On the other hand, financial theories do not provide answers to capital structure’s questions; they offer tools and mode of financing that are more accessible to larger companies. Yet, SME’s capital structure can’t be independent of their governance structure. The classic financial theory supposes independence between the investment decision and the financing decision. Thus, investment determines the volume of funding, but not the split between internal or external funds. In this context, we find interesting to study the hypothesis that SMEs respond positively to the financial theories applied to large firms and to check if they are constrained by conventional solutions used by large companies. In this context, this research focuses on the analysis of the resource’s structure of SME in parallel with their investments’ structure, in order to highlight a link between their assets and liabilities structure. We founded our conceptual model based on two main theoretical frameworks: the Pecking order theory, and the Trade Off theory taking into consideration the SME’s characteristics. Our data were generated from DIANE database. Five hypotheses were tested via a panel regression to understand the type of dependence between the financing methods of 3,244 French SMEs and the development of their investment over a period of 10 years (2007-2016). The results show dependence between equity and internal financing in case of intangible investments development. Moreover, this type of business is constraint to financial debts since the guarantees provided are not sufficient to meet the banks' requirements. However, for tangible investments development, SMEs count sequentially on internal financing, bank borrowing, and new shares issuance or hybrid financing. This is compliant to the Pecking Order Theory. We, therefore, conclude that unlisted SMEs incur more financial debts to finance their tangible investments more than their intangible. However, they always prefer internal financing as a first choice. This seems to be confirmed by the assumption that the profitability of the company is negatively related to the increase of the financial debt. Thus, the Pecking Order Theory predictions seem to be the most plausible. Consequently, SMEs primarily rely on self-financing and then go, into debt as a priority to finance their financial deficit.

Keywords: capital structure, investments, life cycle, pecking order theory, trade off theory

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Authors: Safiyya A. Abba, Shehu U. R. Aliyu

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This paper deals with Islamic social security: a discourse explores the meaning and nature of Islamic social security system. The paper reviews the social security framework and operations during the early period. The paper further identifies the instruments of Islamic social security discusses its principles and objectives. The paper discovers that Islamic social security is a personification of a comprehensive welfare approach in view of its varied instruments that are deeply rooted in the Islamic law, unique principles and realistic and achievable objectives. Furthermore, the Islamic social security system has far reaching socioeconomic implications; social justice, cohesion, equity, a catalyst for poverty eradication, income redistribution, economic growth and development.

Keywords: Islamic social security, basic needs, zakat, socioeconomic justice, equity

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Authors: Jerome V. Cleofas

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Cyberspace has become a more viable arena for budding artists to share musical acts through digital forms. The increasing relevance of online communities has attracted scholars from various fields demonstrating its influence on social capital. This paper extends this understanding of social capital among Filipino music artists belonging to the SoundCloud Philippines Facebook Group. The study makes use of various qualitative data obtained from key-informant interviews and participant observation of online and physical encounters, analyzed using the case study approach. Soundcloud Philippines has over seven-hundred members and is composed of Filipino singers, instrumentalists, composers, arrangers, producers, multimedia artists, and event managers. Group interactions are a mix of online encounters based on Facebook and SoundCloud and physical encounters through meet-ups and events. Benefits reaped from the community are informational, technical, instrumental, promotional, motivational, and social support. Under the guidance of online group administrators, collaborative activities such as music productions, concerts and events transpire. Most conflicts and problems arising are resolved peacefully. Social capital in SoundCloud Philippines is mobilized through recognition, respect and reciprocity.

Keywords: Facebook, music artists, online communities, social capital

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Authors: Jung Lee, L. G. Pee

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The 'Like' function in social media platforms represents the immediate responses of social media users to postings and other users. A large number of 'likes' is often attributed to fame, agreement, and support from others that many users are proud of and happy with. However, what 'like' implies exactly in social media context is still in discussion. Some argue that it is an accurate parameter of the preferences of social media users, whereas others refute that it is merely an instant reaction that is volatile and vague. To address this gap, this study investigates how social media users perceive the 'like' function and behave differently based on their perceptions. This study posits the following arguments. First, 'like' is interpreted as a quantified form of social capital that resides in social media platforms. This incarnated social capital rationalizes the attraction of people to social media and belief that social media platforms bring benefits to their relationships with others. This social capital is then conceptualized into cognitive and emotive dimensions, where social capital in the cognitive dimension represents the awareness of the 'likes' quantitatively, whereas social capital in the emotive dimension represents the receptions of the 'likes' qualitatively. Finally, the ambivalent perspective of the social media users on 'like' (i.e., social capital) is applied. This view rationalizes why social media users appreciate the reception of 'likes' from others but are aware that those 'likes' can distort the actual responses of other users by sending erroneous signals. The rationale on this ambivalence is based on whether users perceive social media as private or public spheres. When social media is more publicized, the ambivalence is more strongly observed. By combining the ambivalence and dimensionalities of the social capital, four types of social media users with different mechanisms on liking behaviors are identified. To validate this work, a survey with 300 social media users is conducted. The analysis results support most of the hypotheses and confirm that people have ambivalent perceptions on 'like' as a social capital and that perceptions influence behavioral patterns. The implication of the study is clear. First, this study explains why social media users exhibit different behaviors toward 'likes' in social media. Although most of the people believe that the number of 'likes' is the simplest and most frank measure of supports from other social media users, this study introduces the users who do not trust the 'likes' as a stable and reliable parameter of social media. In addition, this study links the concept of social media openness to explain the different behaviors of social media users. Social media openness has theoretical significance because it defines the psychological boundaries of social media from the perspective of users.

Keywords: ambivalent attitude, like function, social capital, social media

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Authors: Shyam Shukla

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A brand is the identity of a specific product, service or business. A brand can take many forms, including a name, sign, symbol, color, combination or slogan. The word brand began simply as a way to tell one person's identity from another by means of a hot iron stamp. A legally protected brand name is called a trademark. The word brand has continued to evolve to encompass identity - it affects the personality of a product, company or service. A concept brand is a brand that is associated with an abstract concept, like AIDS awareness or environmentalism, rather than a specific product, service, or business. A commodity brand is a brand associated with a commodity1. In this paper, it is tried to explore the significance of an intellectual capital for the branding of an Institution.

Keywords: brand, commodity, consumer, cultural values, intellectual capital, zonal cluster

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Authors: Abdulwahab Alalyani, Mahbub Rashid

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Public Open Space (POS) availability and distribution among urban communities have a central role to promotes community health. However, growing health challenges in a city would raise attention to the planning quality of these community's assets. This research aims to measure the existing availability and distribution equity of POS in the context of Saudi Arabia using Riyadh city as a case study. The methodology for the POS availability was by calculating the total POS with respect to the population total (m²/inhabitant). All POS were mapped using geographical information systems (GIS), and the total area availability of POS was compared to global, regional, and local standards. To evaluate the significant differences in POS availability across low, medium, and high-income Riyadh neighborhoods, we used a One-way ANOVA analysis of covariance to test the differences. The results are as follows; POS availability was lower than global standers. Riyadh has only 1.40m² per capita of POS. Spatial equity of the availability were significantly different among Riyadh neighborhoods based on socioeconomic status. The future development of POS should be focused on increasing general POS availability and should be given priority to those low-income and unhealthy communities. Accessibility indicators of POS should be considered in future studies.

Keywords: open spaces availability, open spaces distribution, spatial equity, healthy city, Riyadh City

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Authors: Sungeun Hyun, Sooin Lee, Gyewan Moon

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Work-Family Conflict has been an active research area for the past decades. Work-Family Conflict harms individuals and organizations, it is ultimately expected to bring the cost of losses to the company in the long run. WFC has mainly focused on effects of organizational effectiveness and job attitude such as Job Satisfaction, Organizational Commitment, and Turnover Intention variables. This study is different from consequence variable with previous research. For this purpose, we selected the positive job attitude 'Work Engagement' as a consequence of WFC. This research has its primary research purpose in identifying the negative effects of the Work-Family Conflict, and started out from the recognition of the problem that the research on the direct relationship on the influence of the WFC on Work Engagement is lacking. Based on the COR(Conservation of resource theory) and JD-R(Job Demand- Resource model), the empirical study model to examine the negative effects of WFC with Emotional Exhaustion as the link between WFC and Work Engagement was suggested and validated. Also, it was analyzed how much Positive Psychological Capital may buffer the negative effects arising from WFC within this relationship, and the Mediated Moderation model controlling the indirect effect influencing the Work Engagement by the Positive Psychological Capital mediated by the WFC and Emotional Exhaustion was verified. Data was collected by using questionnaires distributed to 500 employees engaged manufacturing, services, finance, IT industry, education services, and other sectors, of which 389 were used in the statistical analysis. The data are analyzed by statistical package, SPSS 21.0, SPSS macro and AMOS 21.0. The hierarchical regression analysis, SPSS PROCESS macro and Bootstrapping method for hypothesis testing were conducted. Results showed that all hypotheses are supported. First, WFC showed a negative effect on Work Engagement. Specifically, WIF appeared to be on more negative effects than FIW. Second, Emotional exhaustion found to mediate the relationship between WFC and Work Engagement. Third, Positive Psychological Capital showed to moderate the relationship between WFC and Emotional Exhaustion. Fourth, the effect of mediated moderation through the integration verification, Positive Psychological Capital demonstrated to buffer the relationship among WFC, Emotional Exhastion, and Work Engagement. Also, WIF showed a more negative effects than FIW through verification of all hypotheses. Finally, we discussed the theoretical and practical implications on research and management of the WFC, and proposed limitations and future research directions of research.

Keywords: emotional exhaustion, positive psychological capital, work engagement, work-family conflict

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Authors: Vilar, Katila

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Rapid urbanization have made of spontaneous settlements one of the dominant´s social subjects of the XXIst century. Currently, it´s recognized that these territories cannot easily be eradicated and are a way of life to many populations of emergent countries. Since late 90s, there is an urgent concern in finding planning and efficient urban design strategies to poverty reduction, spatial integration and social inclusion of low-income communities. The article aims to identify, understand and evaluate the social inclusion´s processes through the urban transformation that has been undertaken in Moravia and how they affected the community´s social capital. To achieve this objective, we start to analyse the PPMIM´s planning discourse in which prevails the sustainability´s concept, to further identify, through the analysis of the project carried out, the urban design strategies implemented and their impact on the perception and on the community´s experience, and, finally, how these focused on the social capital. It relies on concepts such as urban design, social capital, local development and sustainability. At the urban design level it starts on the current principles of “making places”, on the new urbanism concepts and on the practices on the ground carried out by a new generation of architects/planners whose have the main ethical approach in order to create more opportunities and greater social impact to these territories. At the social capital´s level and on the development´s theory, relies on authors such as Coleman, Putman Kliksberg and Amartya Sen. Finally, it aims to address a general discussion about the positive and negative implications of slum upgrading programmes and some necessary recommendations for urban design and social capital can really be translated into real resources for the self sustainable development of low-income communities and their future generations.

Keywords: local and sustainable development, social capital, spontaneous settlements, urban design

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Authors: Arash Sadeghi, Taimaz Larimian

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This study explores the intricate interplay between community-based social capital (CBSC) and neighbourhood dynamics in enhancing resilience of Iranian SMEs, particularly under the strain of international sanctions. Utilising fuzzy-set Qualitative Comparative Analysis (fsQCA), we examine how different dimensions of CBSC—structural, relational, and cognitive—interact with neighbourhood socio-economic and built-environment characteristics to influence SME resilience. Findings reveal four configurations that contribute to the presence of resistance and five configurations associated with the adaptation outcome. Each configuration demonstrates a distinct combination of social capital elements, which vary according to the specific socio-economic and built-environmental characteristics of the neighbourhoods. The first configuration highlights the importance of structural social capital in deprived areas for building resistance, while the second emphasises the role of relational social capital in low-density, minimally deprived areas. Overall, cognitive social capital seems to be less effective in driving economic resilience compared to structural and relational types. This research contributes to the literature by providing a nuanced understanding of the synergistic effects of CBSC dimensions and neighbourhood characteristics on SME resilience. By adopting a configurational approach, we move beyond traditional methodologies, offering a comprehensive view of the complex dynamics of CBSC and neighbourhood characteristics and their impact on SME resilience in varying neighbourhoods.

Keywords: community-based social capital, fuzzy-set qualitative comparative analysis (fsQCA), place-based resilience, resistance

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Authors: Heba Abdelmotaal

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This paper explores the impact of the extent of a company's environmental, social, and governance (ESG) disclosure on credit rating and capital structure. The analysis is based on a sample of 202 firms from the 350 FTSE firms over the period of 2008-2013. ESG disclosure score is measured using Proprietary Bloomberg score based on the extent of a company's Environmental, Social, and Governance (ESG) disclosure. The credit rating is measured by The QuiScore, which is a measure of the likelihood that a company will become bankrupt in the twelve months following the date of calculation. The Capital Structure is measured by long term debt ratio. Two hypotheses are test using panel data regression. The results suggested that the higher degree of ESG disclosure leads to better credit rating. There is significant negative relationship between ESG disclosure and the long term debit percentage. The paper includes implications for the transparency which is resulting of the ESG disclosure could support the Monitoring Function. The monitoring role of disclosure is the increasing in the transparency of the credit rating agencies, also it could affect on managers’ actions. This study provides empirical evidence on the material of ESG disclosure on credit ratings changes and the firms’ capital decision making.

Keywords: capital structure, credit rating agencies, ESG disclosure, panel data regression

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Authors: I. Putu Eka N. Kencana, I. Wayan Mertha

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A variety of research’s evidence suggests that community involvement is one of the vital elements in the development of sustainable tourism. As an entity of the tourism system, local communities are considered have better understanding of their region as well as influenced positively or negatively by the tourism activities in the region. This study elaborates role of community involvement in the development of ecotourism in Kintamani Bali from two perspectives of view, namely participation in the process of initiatives development and participation in the economic benefits of tourism. As one element of social capital form, community participation on the development and management of ecotourism in Kintamani, could be expected maintain its sustainability.

Keywords: community involvement, ecotourism, participation, social capital

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Authors: Petra Palic, Maruska Vizek

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We provide an in-depth analysis of interdependence of asset returns and volatilities in developed and developing countries. The analysis is split into three parts. In the first part, we use multivariate GARCH model in order to provide stylized facts on cross-market volatility spillovers. In the second part, we use a generalized vector autoregressive methodology developed by Diebold and Yilmaz (2009) in order to estimate separate measures of return spillovers and volatility spillovers among sovereign bond, equity, foreign exchange and commodity markets. In particular, our analysis is focused on cross-market return, and volatility spillovers in 19 developed and developing countries. In order to estimate named spillovers, we use daily data from 2008 to 2017. In the third part of the analysis, we use a generalized vector autoregressive framework in order to estimate total and directional volatility spillovers. We use the same daily data span for one developed and one developing country in order to characterize daily volatility spillovers across stock, bond, foreign exchange and commodities markets.

Keywords: cross-market spillovers, sovereign bond markets, equity markets, value at risk (VAR)

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Authors: Bailey Hall, Athena Hoppe, Tevyn Kagele, Anna Nichols, Breeanna Messner

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The Spokane Street Medicine (SSM) Program aims to deliver medical care to people experiencing homelessness in Spokane, Washington. Street medicine is designed to function in a non-traditional setting to help deliver healthcare to a largely underserved population. In this analysis, the SSM Program’s medical charts from street and shelter encounters in early 2021 were reviewed in order to identify illness and diseases in people experiencing homelessness in Spokane. More than half of the prescriptions written during these encounters were for either an antibacterial, an antibiotic, or an antifungal. Estimates of the cost to the local healthcare system are included. Initiating treatment for communicable diseases in people experiencing homelessness via street medicine efforts greatly reduces economic costs while improving health outcomes.

Keywords: ethical issues in public health, equity issues in public health, health economics, health disparities, healthcare costs, medical public health, public health ethics, street medicine

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Authors: Mohammad A. R. S. Almutairi

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This study will provide the introduction that constitutes the problem cornerstone of legal disputes of disclosure and transparency under Kuwaiti Capital market authority Law No. 7 of 2010. It also will discuss the reasons for the emergence of corporate governance and its purposes in the Capital Market Authority Law in Kuwait. In addition, it will show the legal disputes resulting from the unclear concept of disclosure and interest and will discuss the main reasons in support of the possible solution. In addition, this study will argue why the Capital Market Authority Law in Kuwait needs a clear concept and a straight structure of disclosure under section 100. This study will demonstrate why a clear disclosure is led to a better application of the law. This study will demonstrate the fairness in applying the law regarding the punishment against individual, companies and securities market. Furthermore, it will discuss added confidence between investors and the stock market with a clear concept under section 100. Finally, it will summarize arises problem and possible solution.

Keywords: corporate governors, disclosure, transparency, fairness

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Authors: Abrar Almutairi, Alyaa Farouk, Amal Gouda

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Background: Social capital is a factor that helps in bonding in a social network. The individual and the neighborhood social capital affect the health status of members of a particular society. In addition, to the influence of social health on the health of the population, social health has a significant effect on women, especially those with pregnancy. Study objective was to assess the impact of the social capital on the health status of pregnant women Design: A descriptive crosssectional correlational design was utilized in this study. Methods: A convenient sample of 210 pregnant women who attended the outpatient antenatal clinicsfor follow-up in King Fahad hospital (Ministry of National Guard Health Affairs/Riyadh) and King Abdullah bin Abdelaziz University Hospital (KAAUH, Ministry of Education /Riyadh) were included in the study. Data was collected using a self-administered questionnaire that was developed by the researchers based on the “World Bank Social Capital Assessment Tool” and SF-36 questionnaire (Short Form Health Survey). The questionnaire consists of 4 parts to collect information regarding socio-demographic data, obstetric and gynecological history, general scale of health status and social activity during pregnancy and the social capital of the study participants, with different types of questions such as multiple-choice questions, polar questions, and Likert scales. Data analysis was carried out by using Statistical Package for the Social Sciences version 23. Descriptive statistic as frequency, percentage, mean, and standard deviation was used to describe the sample characteristics, and the simple linear regression test was used to assess the relationship between the different variables, with level of significance P≤0.005. Result: This study revealed that only 31.1% of the study participants perceived that they have good general health status. About two thirds (62.8%) of the participants have moderate social capital, more than one ten (11.2٪) have high social capital and more than a quarter (26%) of them have low social capital. All dimensions of social capital except for empowerment and political action had positive significant correlations with the health status of pregnant women with P value ranging from 0.001 to 0.010in all dimensions. In general, the social capital showed high statistically significant association with the health status of the pregnant (P=0.002). Conclusion: Less than one third of the study participants had good perceived health status, and the majority of the study participants have moderate social capital, with only about one ten of them perceived that they have high social capital. Finally, neighborhood residency area, family size, sufficiency of income, past medical and surgical history and parity of the study participants were all significantly impacting the assessed health domains of the pregnant women.

Keywords: impact, social capital, health status, pregnant women

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Authors: Kaida Kobylka

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Museum education policy can be developed through the lens of radical democracy and radically democratic relational aesthetics to provoke a more wholistic, agonistic, and utopian educational experiences that expand a viewer’s experiences and knowledge of artwork in a museum’s permanent collection to encourage a deeper understanding of art and the community of a museum’s connections to equity, diversity, inclusion, and decolonization. Practices used by the museum will create cohesive and engaging informal education that utilizes community-based, alternative knowledge and create dignity-safe spaces for viewers to engage critically with the visual objects.

Keywords: museum education, radical democracy, Canadian policy, community-based knowledge

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Authors: Min-Tsai Lai, Taqwa Hariguna

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This paper presents a periodical replacement model for a system, considering the concept of single and cumulative repair cost limits simultaneously. The failures are divided into two types. Minor failure can be corrected by minimal repair and serious failure makes the system breakdown completely. When a minor failure occurs, if the repair cost is less than a single repair cost limit L1 and the accumulated repair cost is less than a cumulative repair cost limit L2, then minimal repair is executed, otherwise, the system is preventively replaced. The system is also replaced at time T or at serious failure. The optimal period T minimizing the long-run expected cost per unit time is verified to be finite and unique under some specific conditions.

Keywords: repair-cost limit, cumulative repair-cost limit, minimal repair, periodical replacement policy

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Authors: Sharmin Nasrin

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Dhaka is the capital of Bangladesh. In Dhaka among other trips, significant percentages of trips comprise education trips. This paper explores significant factors for private university students’ education trip to the University. A paper pencil based survey has been conducted on Asia Pacific University student in Dhaka from May 2016 to July 2016. Participants were chosen randomly for the survey. Exploratory analysis showed that about 50% chose bus, 33% chose Rickshaw, 2% chose car and 15% chose to walk for travel to their University. Results from Multinomial Logit model revealed that travel cost, travel time and comfort are the significant factors for private university students to choose different modes. However, magnitude of coefficient of attribute comfort is significantly higher compared to travel cost and travel time. Result from this paper can be used by policymakers and Government agencies to provide more cost effective, comfortable journey to their University.

Keywords: private university student's education trip, mode choice mode, Dhaka, developing country

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Authors: Stephen W. Wang

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This research aims to explore the multi-faceted structure of airline passengers’ perception of airline sponsorship, and its impact on airline passengers and even consumers on airline brand preferences and brand equity. The connotation of this research is mainly divided into two parts. The first part of the research focuses on exploring the connotation and sub-dimensions of “air passengers’ perception of airline sponsorship”; the second part of the research focuses on integrating “air passengers’ perception on the multi-factor aspect of the corporate sponsorship, “brand transfer theory” and “brand theory”, explores the influence of airlines’ commitment to corporate sponsorship activities on the brand equity and brand preferences of airline passengers, and on passengers’ subsequent behavioral intentions . In addition, in order to clarify the differences between different types of corporate sponsorship activities and events in terms of "air passengers' perception of airline corporate sponsorship activities", brand transfer, brand preference, brand equity and behavioral intentions, this research also focuses on moderating effects of corporate sponsorship events. With the apply of multi-group structural equation model, it is hoped that the effectiveness of the sponsorship activities of airline companies will be improved. In terms of theoretical and practical implications, the aviation industry can follow the results of this research to understand which corporate sponsorship perceptions have a greater impact on consumers, which has important practical significance. The second part of the research project, from the consumer's point of view, understands whether airline corporate sponsorship activities influence behavioral intentions through brand transfer and brand recognition. Through the analysis of the intermediary effect of brand transfer, brand preference and brand equity, the results of this research can provide a more complete and powerful explanation for “why” airlines’ commitment to corporate sponsorship activities can affect airline passengers’ purchase intentions, which will help fill in the gap of the theoretical and practical research on "airline corporate sponsorship", and has its theoretical significance.

Keywords: airline, sponsorship, brand image transfer, brand preference

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Authors: S. Ahmed, P. Dlask, B. Hasan

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There are several ways to estimate the cost of the construction project: simple and detailed. The process of estimating cost is usually done during the design stage, which should take long-time and the designer must give attention to all details. This paper explain the causes of the deviations occurring in the cost of the construction project, and determines the reasons of these differences between contractual cost and final cost of the construction project, through the study of literature review related to this field, and benefiting from the experience of workers in the field of building (owners, contractors) through designing a questionnaire, and finding the most ten important reasons and explain the relation between the contractual cost and the final cost according to these reasons. The difference between those values will be showed through diagrams drawn using the statistical program. In addition to studying the effects of overrun costs on the advancing of the project, and identify the most five important effects. According to the results, we can propose the right direction for the final cost evaluation and propose some measures that would help to control and adjust the deviation in the costs.

Keywords: construction projects, building, cost, estimating costs, delay, overrun

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Authors: Olufunke Olufunmilayo Ilemobayo, Barakat. O Abdulazeez

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Profit making among poultry egg farmers has been a challenge to efficient distribution of scarce farm resources over the years, due majorly to low capital base, inefficient management, technical inefficiency, economic inefficiency, thus poultry egg production has moved into an underperformed situation, characterised by low profit margin. Though previous studies focus mainly on broiler production and efficiency of its production, however, paucity of information exist in the areas of profit efficiency in the study area. Hence, determinants of profit efficiency among poultry egg farmers in Ondo State, Nigeria were investigated. A purposive sampling technique was used to obtain primary data from poultry egg farmers in Owo and Akure local government area of Ondo State, through a well-structured questionnaire. socio-economic characteristics such as age, gender, educational level, marital status, household size, access to credit, extension contact, other variables were input and output data like flock size, cost of feeder and drinker, cost of feed, cost of labour, cost of drugs and medications, cost of energy, price of crate of table egg, price of spent layers were variables used in the study. Data were analysed using descriptive statistics, budgeting analysis, and stochastic profit function/inefficiency model. Result of the descriptive statistics shows that 52 per cent of the poultry farmers were between 31-40 years, 62 per cent were male, 90 per cent had tertiary education, 66 per cent were primarily poultry farmers, 78 per cent were original poultry farm owners and 55 per cent had more than 5 years’ work experience. Descriptive statistics on cost and returns indicated that 64 per cent of the return were from sales of egg, while the remaining 36 per cent was from sales of spent layers. The cost of feeding take the highest proportion of 69 per cent of cost of production and cost of medication the lowest (7 per cent). A positive gross margin of N5, 518,869.76, net farm income of ₦ 5, 500.446.82 and net return on investment of 0.28 indicated poultry egg production is profitable. Equipment’s cost (22.757), feeding cost (18.3437), labour cost (136.698), flock size (16.209), drug and medication cost (4.509) were factors that affecting profit efficiency, while education (-2.3143), household size (-18.4291), access to credit (-16.027), and experience (-7.277) were determinant of profit efficiency. Education, household size, access to credit and experience in poultry production were the main determinants of profit efficiency of poultry egg production in Ondo State. Other factors that affect profit efficiency were cost of feeding, cost of labour, flock size, cost of drug and medication, they positively and significantly influenced profit efficiency in Ondo State, Nigeria.

Keywords: cost and returns, economic inefficiency, profit margin, technical inefficiency

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Authors: Atefe Malekkhani, Lee Beattie, Mohsen Mohammadzadeh

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Unprecedented growth of megacities and urban areas all around the world have resulted in numerous risks, concerns, and problems across various aspects of urban life, including environmental, social, and economic domains like climate change, spatial and social inequalities. In this situation, ever-increasing progress of technology has created a hope for urban authorities that the negative effects of various socio-economic and environmental crises can potentially be mitigated with the use of information and communication technologies. The concept of 'smart city' represents an emerging solution to urban challenges arising from increased urbanization using ICTs. However, smart cities are often perceived primarily as technological initiatives and are implemented without considering the social and cultural contexts of cities and the needs of their residents. The implementation of smart city projects and initiatives has the potential to (un)intentionally exacerbate pre-existing social, spatial, and cultural segregation. Investigating the impact of smart city on social capital of people who are users of smart city systems and with governance as policymakers is worth exploring. The importance of inhabitants to the existence and development of smart cities cannot be overlooked. This concept has gained different perspectives in the smart city studies. Reviewing the literature about social capital and smart city show that social capital play three different roles in smart city development. Some research indicates that social capital is a component of a smart city and has embedded in its dimensions, definitions, or strategies, while other ones see it as a social outcome of smart city development and point out that the move to smart cities improves social capital; however, in most cases, it remains an unproven hypothesis. Other studies show that social capital can enhance the functions of smart cities, and the consideration of social capital in planning smart cities should be promoted. Despite the existing theoretical and practical knowledge, there is a significant research gap reviewing the knowledge domain of smart city studies through the lens of social capital. To shed light on this issue, this study aims to explore the domain of existing research in the field of smart city through the lens of social capital. This research will use the 'Preferred Reporting Items for Systematic Reviews and Meta-Analyses' (PRISMA) method to review relevant literature, focusing on the key concepts of 'Smart City' and 'Social Capital'. The studies will be selected Web of Science Core Collection, using a selection process that involves identifying literature sources, screening and filtering studies based on titles, abstracts, and full-text reading.

Keywords: smart city, urban digitalisation, ICT, social capital

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Authors: Anwar Hasan Abdullah Othman, Ahamed Kameel, Hasanuddeen Abdul Aziz

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In this study, an attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However, the global oil prices is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However, the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate and corruption index.

Keywords: fund unit price, unit trust industry, Malaysia, macroeconomic variables, causality

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Authors: Chechen Liao, Pui-Lai To, Yi-Hui Wang

Abstract:

Recently location-based augmented reality games (LBS+AR) have become increasingly popular as a major form of entertainment. Location-based augmented reality games have provided a lot of opportunities for face-to-face interaction among players. Prior studies also indicate that the social side of location-based augmented reality games are one of the major reasons for players to engage in the games. However, the impact of the usage of location-based augmented reality games has not been well explored. The study examines how interpersonal interaction affects social capital and health through playing location-based augmented reality games. The study also investigates how social capital mediates the relationships between interpersonal interaction and health. The study uses survey method to collect data. Six-hundred forty-seven questionnaires are collected. Structural equation modeling is used to investigate the relationships among variables. The causal relationships between variables in the research model are tested. The results of the study indicated that four interpersonal attraction attributes, including ability, proximity, similarity, and familiarity, are identified by ways of factor analysis. Interpersonal attraction is important for location-based augmented reality game-players to develop bonding and bridging social capital. Bonding and bridging social capital have a positive impact on the mental and social health of game-players. The results of the study provide academic and practical implications for future growth of location-based augmented reality games.

Keywords: health, interpersonal interaction, location-based augmented reality games, social capital

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Authors: Almoutassem Bellah Nasser

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This paper is aimed at calculating the intangible assets of Jordanian economy. This effort is a response to the demand from corporations for these services which reflects a perceived gap in internal and external financial reporting on intangible investments. The main conclusion of the paper is to suggest that the way forward to a standardized, more comparable approach to measuring intangible capital is to employ CIV method of valuation. Published macroeconomic data traditionally exclude most intangible investment from measured GDP. This situation is beginning to change as some attempts have been made to measure the amount of intangible assets. It was found that intangible assets account for $164.20 million in all the listed companies of Jordan. All this money does not appear on the balance sheets of these companies and hence requires special attention of policy makers for better utilization.

Keywords: intangible capital, stock prices, Amman Stock Exchange

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Authors: Mohamad Shariff Nurasikin, Paul Crawford, Nicola Wright

Abstract:

People with any mental disorder can get benefit from the spiritual aspects of life for recovery, particularly in searching for the meaning of life and engaging in meaningful activities. However, little is known about such effects in the population of bipolar disorder. The concepts of spirituality are highly contestable, as they are too broad and removed from the original religious understanding. The concepts are more notable as encompassing multi-dimensional aspects of people’s lives such as social, emotional, and psychological. Viewing that Western or secular worldview dominates most of the literature in spirituality, it is time to explore the concept of spirituality from the Eastern and religious worldview, such as the Malaysian view. Thus, the aim of this study is to provide a conceptual understanding of people with bipolar disorder with a religious affiliation in Malaysia. This study employs a Grounded Theory and explores the narratives from the interviews of 25 participants. The narratives strongly suggest the salient resources or can be referred to as various forms of capital, as in the capital theory, namely, religious, social, psychological, and medicinal. More important is how these capitals are the enablers for recovery in mental health and well-being, where the participants in the sample engage in a more meaningful life and positive adaptations. This study also extends the Bourdieusian spiritual capital, in which the salient resources are termed as the capital bundle. More significant is how the capital bundles are working contiguously in building and accumulating the spiritual capital. This process is conducive to recovery within the social life of people with bipolar disorder or perhaps other mental disorders.

Keywords: bipolar, Bourdeau, recovery, spiritual

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Authors: Hassan Abdelgadir

Abstract:

Cost overruns have harmed the economies and reputations of several construction companies around the world. Many project management systems have been developed to keep track of a project's budget. However, due to several cost overrun difficulties in the construction industry, cost management is still deemed inadequate. As a result, the goal of this term paper is to identify and group prospective construction project cost overrun reasons based on their origin groups.Basically, all potential cost overrun elements were rigorously checked through 1iterature analysis before being divided into seven (7) groups of originating components, including project, contract, client, contractor, consultant, labor, and external. Each potential factor was completely defined with examples.

Keywords: construction projects, cost overruns, construction company, factors effect costoverruns

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Authors: Dibya Jivan Pati, Kazuhisa Iki, Riken Homma

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Unlike other metro cities of India, Bhubaneswar–the capital city of Odisha, is expected to reach 1-million-mark population by now. The demands of dwelling unit requirement mostly among urban poor belonging to Economically Weaker section (EWS) and Low Income groups (LIG) is becoming a challenge due to high housing cost and rents. As a matter of fact, it’s also noted that, with increase in population, the solid waste generation also increases subsequently affecting the environment due to inefficiency in collection of waste by local government bodies. Methods of utilizing Solid Waste - especially in form of Plastic bottles, Glass bottles and Metal cans (PGM) are now widely used as an alternative material for construction of low-cost building by Non-Government Organizations (NGOs) in developing countries like India to help the urban poor afford a shelter. The application of disposed plastic bottle used in construction of single dwelling significantly reduces the overall cost of construction to as much as 14% compared to traditional construction material. Therefore, considering its cost-benefit result, it’s possible to provide housing to EWS and LIGs at an affordable price. In this paper, we estimated the quantity of plastic bottles generated in Bhubaneswar which further helped to estimate the possible number of single dwelling unit that can be constructed on yearly basis so as to refrain from further housing shortage. The estimation results will be practically used for planning and managing low-cost housing business by local government and NGOs.

Keywords: construction, dwelling unit, plastic bottle, solid waste generation, groups

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