Search results for: economic bloc
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 7124

Search results for: economic bloc

3884 The Study on the Platform Strategy of Taipei City Urban Regeneration Station

Authors: Chao Jen-Chih, Kuo-Wei Hsu

Abstract:

Many venues and spaces in cities gradually become old and decayed as time goes by and develops. Urban regeneration is the critical strategy to promote local development, but the method of spatial reconstruction which is emphasized in the issue of urban regeneration is questioned for bringing cultural, social and economic impacts on old city areas. The idea of “Urban Regeneration Station (URS)” is proposed for Taipei City Government to introduce the entry and disturbance of communities and related groups with the concept of creative city. This study explored how an URS promotes local development again through the strength of communities and the energy of local residence community, and it established the Platform Strategy for URS. The research results are as follows: URS through the promotion of government agencies, experts, scholars and the third sector, to the selection of different types of units stationed in business, through exhibitions, seminars, and other activities to explore local development issues, vetting each stationed execution efficiency units, and different units stationed by URS establish URS overall network platform strategy.

Keywords: urban regeneration, platform strategy, creative city, Taipei city

Procedia PDF Downloads 456
3883 Diversity in Finance Literature Revealed through the Lens of Machine Learning: A Topic Modeling Approach on Academic Papers

Authors: Oumaima Lahmar

Abstract:

This paper aims to define a structured topography for finance researchers seeking to navigate the body of knowledge in their extrapolation of finance phenomena. To make sense of the body of knowledge in finance, a probabilistic topic modeling approach is applied on 6000 abstracts of academic articles published in three top journals in finance between 1976 and 2020. This approach combines both machine learning techniques and natural language processing to statistically identify the conjunctions between research articles and their shared topics described each by relevant keywords. The topic modeling analysis reveals 35 coherent topics that can well depict finance literature and provide a comprehensive structure for the ongoing research themes. Comparing the extracted topics to the Journal of Economic Literature (JEL) classification system, a significant similarity was highlighted between the characterizing keywords. On the other hand, we identify other topics that do not match the JEL classification despite being relevant in the finance literature.

Keywords: finance literature, textual analysis, topic modeling, perplexity

Procedia PDF Downloads 171
3882 Comparative Analysis of Some Mineral Profile of Honey Marketed and Consumed in Some of the States in Northern Part of Nigeria

Authors: R. Odoh, M. S. Dauda, E. A. Kamba, N. C. Igwemmar

Abstract:

Honey and honey trade is an important economic activity for many tropical rural and urban areas worldwide. In West Africa and other part of the world, honey and honey products holds high socio–cultural, religious, medicinal, and traditional values. Therefore, to maximize benefits or to enhance profit, a variety of components are added to the raw, fresh and unprocessed honey, introducing the possibility of heavy metals contaminants. Therefore the honey sold in various places, markets and shops in some states in Northern Nigeria (Benue, Nassarawa and Taraba) including Abuja FCT, in Nigeria was analyzed to determine the level of heavy metals (Cd, Co, Cr, Cu, Fe, Mn, Ni, Pb, and Zn). All the honey samples contain heavy metals. The results ranged from 0.028–0.070, 0.023–0.058, 0.042–0.092, 4.231–8.589, 8.115–14.892, 0.078–0.922, 0.044–0.092, 0.041–0.087 and 18.234–28.654 μg/L for Cd, Co, Cr, Cu, Fe, Mn, Ni, Pb, and Zn respectively. The mean concentration (μg/L) of the heavy metals Cd, Co, Cr, Cu, Fe, Mn, Ni, Pb, and Zn of the regularly marketed honey is significantly higher than the mean concentration observed in raw, fresh and unprocessed honey. However, continued consumption of honey with high heavy metal content might lead to exposure to chronic heavy metal poisoning.

Keywords: honey, health, mineral profile adulteration, contamination

Procedia PDF Downloads 321
3881 Inventory Management to Minimize Storage Costs and Improve Delivery Time in a Pharmaceutical Industry

Authors: Israel Becerril Rosales, Manuel González De La Rosa, Gerardo Villa Sánchez

Abstract:

In this work, the effects that produce not having a good inventory management is analyzed, in addition of the way that how it affects the storage costs. The research began conducting the historical analysis about stored products, its storage capacity, and distribution. The results were not optimal, since in all its raw materials (RM) have overstocking, the warehouse capacity is only used by 61%, does not have a specific place for each of its RM, causing that the delivery times increases and makes difficult a cyclical inventory. These shortcomings allowed to view and select as design alternatives the inventory ABC, so that depending on the consumption of each RM would be redistributed by using economic amount requested. Also, the Delphi method to ensure the practical applicability of the proposed tool was used, taking in account comments and suggestions of the involved experts, as well as the compliance of NOM-059-SSA1-2015 good manufacturing practices of drug. With the actions implemented, the utilization rate drops of 61% to 32% capacity, it shows that the warehouse was not designed properly due to there is not an industrial engineering area.

Keywords: lead time, improve delivery, storage costs, inventory management

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3880 Patching and Stretching: Development of Policy Mixes for Entrepreneurship in China

Authors: Jian Shao

Abstract:

The effect of entrepreneurship on economic, innovation, and employment has been widely acknowledged by scholars and governments. As an essential factor of influencing entrepreneurship activities, entrepreneurship policy creates a conducive environment to support and develop entrepreneurship. However, the challenge in developing entrepreneurship policy is that policy is normally a combination of many different goals and instruments. Instead of examining the effect of individual policy instruments, we argue that attention to a policy mix is necessary. In recent years, much attention has been focused on comparing a single policy instrument to a policy mix, evaluating the interactions between different instruments within a mix or assessment of particular policy mixes. However, another required step in understanding policy mixes is to understand how and why mixes evolve and change over time and to determine whether any changes are an improvement. In this paper, we try to trace the development of the policy mix for entrepreneurship in China by mapping the policy goals and instruments and reveal the process of policy mix changing over time. We find two main process mechanisms of the entrepreneurship policy mix in China: patching and stretching. Compared with policy repackaging, patching and stretching are more realistic processes in the real world of the policy mix, and they are possible to achieve effectiveness by avoiding conflicts and promoting synergies among policy goals and instruments.

Keywords: entrepreneurship, China, policy design, policy mix, policy patching

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3879 Significance of the 2015 Comprehensive Strategic Partnership Agreement to the Foreign Policies of Australia and Singapore in the Indo-Pacific Region

Authors: Iraj Musa Dawaari

Abstract:

Australia and Singapore signed the Comprehensive Strategic Partnership (CSP) agreement on 29th June 2015. This agreement aims to strengthen security, defense, diplomatic, economic, education, and innovation cooperation, as well as people-to-people relations between the two states. The purpose of this study is to examine rationales underpinning the (2015 CSP) agreement in order to better understand the national and foreign policy priorities of both Australia and Singapore in the period leading up to the signing of the agreement and in the period since. This research project will seek to establish how both countries’ national and foreign policy priorities have developed in recent years in the light of growing tensions between China and the US in the Indo-Pacific region and how the CSP agreement has influenced these priorities. This project also seeks to better understand and analyse why both states signed the CSP agreement in 2015.

Keywords: Australia, Singapore, foreign policy, partnership, USA, China, Indo-Pacific Region

Procedia PDF Downloads 139
3878 Impact of Interest and Foreign Exchange Rates Liberalization on Investment Decision in Nigeria

Authors: Kemi Olalekan Oduntan

Abstract:

This paper was carried out in order to empirical, and descriptively analysis how interest rate and foreign exchange rate liberalization influence investment decision in Nigeria. The study spanned through the period of 1985 – 2014, secondary data were restricted to relevant variables such as investment (Proxy by Gross Fixed Capital Formation) saving rate, interest rate and foreign exchange rate. Theories and empirical literature from various scholars were reviews in the paper. Ordinary Least Square regression method was used for the analysis of data collection. The result of the regression was critically interpreted and discussed. It was discovered for empirical finding that tax investment decision in Nigeria is highly at sensitive rate. Hence, all the alternative hypotheses were accepted while the respective null hypotheses were rejected as a result of interest rate and foreign exchange has significant effect on investment in Nigeria. Therefore, impact of interest rate and foreign exchange rate on the state of investment in the economy cannot be over emphasized.

Keywords: interest rate, foreign exchange liberalization, investment decision, economic growth

Procedia PDF Downloads 364
3877 Health Inequalities in the Global South: Identification of Poor People with Disabilities in Cambodia to Generate Access to Healthcare

Authors: Jamie Lee Harder

Abstract:

In the context of rapidly changing social and economic circumstances in the developing world, this paper analyses access to public healthcare for poor people with disabilities in Cambodia. Like other countries of South East Asia, Cambodia is developing at rapid pace. The historical past of Cambodia, however, has set former social policy structures to zero. This past forces Cambodia and its citizens to implement new public health policies to align with the needs of social care, healthcare, and urban planning. In this context, the role of people with disabilities (PwDs) is crucial as new developments should and can take into consideration their specific needs from the beginning onwards. This paper is based on qualitative research with expert interviews and focus group discussions in Cambodia. During the field work it became clear that the identification tool for the poorest households (HHs) does not count disability as a financial risk to fall into poverty neither when becoming sick nor because of higher health expenditures and/or lower income because of the disability. The social risk group of poor PwDs faces several barriers in accessing public healthcare. The urbanization, the socio-economic health status, and opportunities for education; all influence social status and have an impact on the health situation of these individuals. Cambodia has various difficulties with providing access to people with disabilities, mostly due to barriers regarding finances, geography, quality of care, poor knowledge about their rights and negative social and cultural beliefs. Shortened budgets and the lack of prioritizations lead to the need for reorientation of local communities, international and national non-governmental organizations and social policy. The poorest HHs are identified with a questionnaire, the IDPoor program, for which the Ministry of Planning is responsible. The identified HHs receive an ‘Equity Card’ which provides access free of charge to public healthcare centers and hospitals among other benefits. The dataset usually does not include information about the disability status. Four focus group discussions (FGD) with 28 participants showed various barriers in accessing public healthcare. These barriers go far beyond a missing ramp to access the healthcare center. The contents of the FGDs were ratified and repeated during the expert interviews with the local Ministries, NGOs, international organizations and private persons working in the field. The participants of the FGDs faced and continue to face high discrimination, low capacity to work and earn an own income, dependency on others and less social competence in their lives. When discussing their health situation, we identified, a huge difference between those who are identified and hold an Equity Card and those who do not. Participants reported high costs without IDPoor identification, positive experiences when going to the health center in terms of attitude and treatment, low satisfaction with specific capacities for treatments, negative rumors, and discrimination with the consequence of fear to seek treatment in many cases. The problem of accessing public healthcare by risk groups can be adapted to situations in other countries.

Keywords: access, disability, health, inequality, Cambodia

Procedia PDF Downloads 151
3876 Desalination Technologies and Desalination Integrated with Renewable Energies – A Case Study

Authors: Ahmadali Shirazytabar, Hamidreza Namazi

Abstract:

As water resources are rapidly getting diminished, more and more interest is paid to the desalination of saline waters. Desalination has become a reliable and cost effective solution in provision of fresh water particularly in the arid areas of the world such as Middle East countries. However, the dramatic increase of utilizing desalination will cause a series of problems which are significantly related to energy consumption and environment impacts. The use of renewable energy sources to provide energy required by desalination processes is a feasible and simultaneously environmental friendly solution. In this study an attempt has been made to present a review on desalination technologies, desalination integrated with renewable energies, in brief, and practical progresses made during recent years particularly in the field of desalination by wind energy which is the most common form of renewable energies. Moreover, an economic analysis of a wind powered RO desalination system comprising of 10×2.5 MW wind turbines is done, and the results will be compared to those of a cogeneration system comprising of one 25 MW gas turbines, heat recovery steam generators (HRSG) and MED-TVC desalination.

Keywords: wind turbine, desalination, RO, MED, cogeneration, gas turbine, HRSG

Procedia PDF Downloads 396
3875 Exploring Cybercrimes and Major Security Breaches: Assessing the Broader Fiscal Impact on Nigeria

Authors: Washima Tuleun

Abstract:

Cybercrime is a global concern, and Nigeria is not immune to its effects. This paper investigates the cybercrimes and significant cyber-attacks that have targeted businesses and institutions in Nigeria, examining their various forms and the financial and economic impacts they have on individuals, businesses, and the nation as a whole. As technological advancements rapidly evolve and online services gain widespread adoption, there has been a corresponding rise in cyber-related attacks. These attacks often target personal data, exploit system vulnerabilities, and result in the theft of sensitive information, leading to financial losses, reputational damage, and broader impacts on organizations. The study conducts a thorough review of existing literature, case studies, and statistical data to provide a comprehensive understanding of Nigeria’s cybercrime landscape. Additionally, it assesses the efforts by both the government and the private sector to address these challenges and offers recommendations for more effective strategies to mitigate and reduce their impact.

Keywords: cybersecurity, telecommunications engineering, information technology, threat intelligence, vulnerability management, computing

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3874 Gender Perception on Food Waste within the Household and Community: Case Study in Bandung City, Indonesia

Authors: Gumilar Hadiningrat, Stewart Barr, Jo Little

Abstract:

In Indonesia, the majority of those who manage food waste are women. It is Indonesian culture that women act as household managers. Therefore, women as household managers hold an important role in reducing food waste within households. Meanwhile, in the community, women’s organisations are some of the most active organisations dealing with food waste. Food waste has an increasing profile and is the subject of much global attention and have economic, social and environmental impacts. Reducing food waste will improve future food availability in the context of global population growth and increasing resource scarcity. The aim of this research is to investigate women’s experience and understanding of dealing with food waste in the household and in the community. The research will use an inductive approach using in-depth qualitative methods. In terms of data collection, two methods will be used - questionnaire and interviews. All in all, it could be claimed that women, both within the household and the community in Indonesia, hold an important role in dealing with food waste.

Keywords: community waste management, food waste, gender, household waste, waste management

Procedia PDF Downloads 238
3873 The Effectiveness of Spatial Planning and Land Use Management Policies to Promote Tourism Development in the Wild Coast, Eastern Cape

Authors: Siyamthanda Makhwabe

Abstract:

Tourism development and spatial planning within the broader spectrum of the Eastern Cape needs to be strategically integrated to give effectiveness to development planning within the province. Tourism was severely affected and limited by policies of the previous regime. Tourism development in the Eastern Cape has been identified as one of the underdeveloped sectors that have the potential to improve the province’s local economic development trajectory The proposed study reviews literature on tourism development in an urban/rural and regional context in the Eastern Cape province. The proposed study will therefore offer an in-depth literature review on issues pertaining to spatial planning, land use management policies and tourism development within the Eastern Cape using the scoping review method. The intention of the proposed study is to identify synergies between the intertwined municipalities within the Wild Coast region in order to create a tourism belt that would yield benefit from Coffee Bay to East London.

Keywords: development, Eastern Cape, policies, spatial planning, tourism

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3872 Minimum Pension Guarantee in Funded Pension Schemes: Theoretical Model and Global Implementation

Authors: Ishay Wolf

Abstract:

In this study, the financial position of pension actors in the market during the pension system transition toward a more funded capitalized scheme is explored, mainly via an option benefit model. This is enabled by not considering the economy as a single earning cohort. We analytically demonstrate a socio-economic anomaly in the funded pension system, which is in favor of high earning cohorts on at the expense of low earning cohorts. This anomaly is realized by a lack of insurance and exposure to financial and systemic risks. Furthermore, the anomaly might lead to pension re-reform back to unfunded scheme, mostly due to political pressure. We find that a minimum pension guarantee is a rebalance mechanism to this anomaly, which increases the probability to of the sustainable pension scheme. Specifically, we argue that implementing the guarantee with an intra-generational, risk-sharing mechanism is the most efficient way to reduce the effect of this abnormality. Moreover, we exhibit the convergence process toward implementing minimum pension guarantee in many countries which have capitalized their pension systems during the last three decades, particularly among Latin America and CEE countries.

Keywords: benefits, pension scheme, put option, social security

Procedia PDF Downloads 122
3871 Crossing Boundaries: Emerging Identities from Folk Theatre

Authors: Sonia Wahengbam, Natasha Elangbam

Abstract:

Female impersonation has existed through the length of human civilization and the breadth of its cultures. Transvestism and drag queen cultures have created multi-sited spaces where in the shadow of art, one can cross the gender barrier and express one’s hidden identity. This paper will explore a dynamic cultural space that exists in Manipur, a state in the northeastern region of India, where the female impersonators (nupi shabis) of a folk theater (Shumang Leela) are using this traditional and popular art form to claim social acceptance of their homosexual identities through the medium of entertainment. It will highlight how by crossing the gender boundary, this third gender group has carved out a unique socio-economic niche where they have exploited their sexual identities to their advantage. The paper will trace the expanding cultural ‘’borderland’’ of Manipur where there is an increasing sense of ‘becoming’, belonging and sharing” of identities through the interweaving of old and new media. The research will be based on interviews with the nupi shabis, cultural critics and other experts.

Keywords: transvestism, Manipur, female impersonators (nupi shabis), Shumang Leela, gender

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3870 Biological Treatment of Tannery Wastewater Using Pseudomonas Strains

Authors: A. Benhadji, R. Maachi

Abstract:

Environmental protection has become a major economic development issues. Indeed, the environment has become both market growth factor and element of competition. It is now an integral part of all industrial strategies. Ecosystem protection is based on the reduction of the pollution load in the treatment of liquid waste. The physicochemical techniques are commonly used which a transfer of pollution is generally found. Alternative to physicochemical methods is the use of microorganisms for cleaning up the waste waters. The objective of this research is the evaluation of the effects of exogenous added Pseudomonas strains on pollutants biodegradation. The influence of the critical parameters such as inoculums concentration and duration treatment are studied. The results show that Pseudomonas putida is found to give a maximum reduction in chemical organic demand (COD) in 4 days of incubation. However, toward to protect biological pollution of environment, the treatment is achieved by electro coagulation process using aluminium electrodes. The results indicate that this process allows disinfecting the water and improving the electro coagulated sludge quality.

Keywords: tannery, pseudomonas, biological treatment, electrocoagulation process, sludge quality

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3869 Geographic Mapping of Tourism in Rural Areas: A Case Study of Cumbria, United Kingdom

Authors: Emma Pope, Demos Parapanos

Abstract:

Rural tourism has become more obvious and prevalent, with tourists’ increasingly seeking authentic experiences. This movement accelerated post-Covid, putting destinations in danger of reaching levels of saturation called ‘overtourism’. Whereas the phenomenon of overtourism has been frequently discussed in the urban context by academics and practitioners over recent years, it has hardly been referred to in the context of rural tourism, where perhaps it is even more difficult to manage. Rural tourism was historically considered small-scale, marked by its traditional character and by having little impact on nature and rural society. The increasing number of rural areas experiencing overtourism, however, demonstrates the need for new approaches, especially as the impacts and enablers of overtourism are context specific. Cumbria, with approximately 47 million visitors each year, and 23,000 operational enterprises, is one of these rural areas experiencing overtourism in the UK. Using the county of Cumbria as an example, this paper aims to explore better planning and management in rural destinations by clustering the area into rural and ‘urban-rural’ tourism zones. To achieve the aim, this study uses secondary data from a variety of sources to identify variables relating to visitor economy development and demand. These data include census data relating to population and employment, tourism industry-specific data including tourism revenue, visitor activities, and accommodation stock, and big data sources such as Trip Advisor and All Trails. The combination of these data sources provides a breadth of tourism-related variables. The subsequent analysis of this data draws upon various validated models. For example, tourism and hospitality employment density, territorial tourism pressure, and accommodation density. In addition to these statistical calculations, other data are utilized to further understand the context of these zones, for example, tourist services, attractions, and activities. The data was imported into ARCGIS where the density of the different variables is visualized on maps. This study aims to provide an understanding of the geographical context of visitor economy development and tourist behavior in rural areas. The findings contribute to an understanding of the spatial dynamics of tourism within the region of Cumbria through the creation of thematized maps. Different zones of tourism industry clusters are identified, which include elements relating to attractions, enterprises, infrastructure, tourism employment and economic impact. These maps visualize hot and cold spots relating to a variety of tourism contexts. It is believed that the strategy used to provide a visual overview of tourism development and demand in Cumbria could provide a strategic tool for rural areas to better plan marketing opportunities and avoid overtourism. These findings can inform future sustainability policy and destination management strategies within the areas through an understanding of the processes behind the emergence of both hot and cold spots. It may mean that attract and disperse needs to be reviewed in terms of a strategic option. In other words, to use sector or zonal policies for the individual hot or cold areas with transitional zones dependent upon local economic, social and environmental factors.

Keywords: overtourism, rural tourism, sustainable tourism, tourism planning, tourism zones

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3868 The National Idea and Selthindentification of Nation is the Foundation of the Society’s Development

Authors: K. Aisultanova, O. Abdimanuly

Abstract:

The article is told about the factors influencing the formation of the national idea and national identity. Paying attention to the idea and purpose of 'Eternal county', historical dates and examples are given. The structure of the idea 'The eternal country' by ancient Turks is discussed and the history of the legend prevalent among the Kazakh people, the image of the mythical historical figures are analyzed. Al-Farabi’s philosophical work 'Honest city', Zhysip Balasagun’s poem 'Happy Knowledge' are told, the opinions of scholars researching the nation's history, literature, and culture are given. As international experience shows, the idea of a new stage in the development of the country's great national society and the state for the purpose of political, social, economic, cultural, spiritual, and the other efforts are consolidated. The idea of the national, ethnic, religious, cultural and other communities united by a group of people sharing a collective memory, goals, ideas and dreams and , world view, a complex set of beliefs and values are expressed.

Keywords: independence, historical process, national idea, the national ideology, society, state

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3867 Power of Doubling: Population Growth and Resource Consumption

Authors: Sarika Bahadure

Abstract:

Sustainability starts with conserving resources for future generations. Since human’s existence on this earth, he has been consuming natural resources. The resource consumption pace in the past was very slow, but industrialization in 18th century brought a change in the human lifestyle. New inventions and discoveries upgraded the human workforce to machines. The mass manufacture of goods provided easy access to products. In the last few decades, the globalization and change in technologies brought consumer oriented market. The consumption of resources has increased at a very high scale. This overconsumption pattern brought economic boom and provided multiple opportunities, but it also put stress on the natural resources. This paper tries to put forth the facts and figures of the population growth and consumption of resources with examples. This is explained with the help of the mathematical expression of doubling known as exponential growth. It compares the carrying capacity of the earth and resource consumption of humans’ i.e. ecological footprint and bio-capacity. Further, it presents the need to conserve natural resources and re-examine sustainable resource use approach for sustainability.

Keywords: consumption, exponential growth, population, resources, sustainability

Procedia PDF Downloads 229
3866 The Impact of Information Technology Monitoring on Employee Theft and Productivity

Authors: Ajayi Oluwasola Felix

Abstract:

This paper examines how firm investments in technology-based employee monitoring impact both misconduct and productivity. We use unique and detailed theft and sales data from 392 restaurant locations from five firms that adopt a theft monitoring information technology (IT) product. We use difference-in-differences (DD) models with staggered adoption dates to estimate the treatment effect of IT monitoring on theft and productivity. We find significant treatment effects in reduced theft and improved productivity that appear to be primarily driven by changed worker behavior rather than worker turnover. We examine four mechanisms that may drive this productivity result: economic and cognitive multitasking, fairness-based motivation, and perceived increases of general oversight. The observed productivity results represent substantial financial benefits to both firms and the legitimate tip-based earnings of workers. Our results suggest that employee misconduct is not solely a function of individual differences in ethics or morality, but can also be influenced by managerial policies that can benefit both firms and employees.

Keywords: information technology, monitoring, misconduct, employee theft

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3865 Social Construction of Gender: Comparison of Gender Stereotypes among Bureaucrats and Non- Bureaucrats

Authors: Arshad Ali

Abstract:

This study aims to highlight the comparative patterns of social construction of gender among bureaucrats and non-bureaucrats. For the purpose of this study purposive sample of 8 respondents, including both male and female bureaucrats and non-bureaucrats, was collected from Gujranwala and Lahore. The measures for collecting data included an indigenous demographic information sheet and interview protocol related to gender roles, social construction of gender and managerial performance. The collected data was analyzed through the Nvivo version 11 and analysis reveals that there are diverse perceptions regarding male and female stereotyping among bureaucrats and non-bureaucrats, as different kinds of social environments lead to the modification of stereotypes. The research contributes to gender studies, specifically in the context of Pakistani society. There are very few studies available, and empirical data about Gender construction is scanty, so the study provides an impetus for future research. It is suggested that future research explore the phenomenon at a larger scale, including more respondents and another dimension, by keeping in view the socio-economic factors and policies of the government regarding the elimination of gender discrimination in Pakistan.

Keywords: social construction, gender, bureaucrats, gender perception

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3864 More Than Financial Wealth: An Empirical Study on the Impact of Family Involvement on the Dimensions of Exit Success

Authors: Tim Vollmer, Andrea Greven, Malte Brettel

Abstract:

Family firms represent the predominant business structure worldwide, accounting for 90 percent of all operational businesses. These firms are essential to society and the economy. In the past decade, family firm exits increased by 72%; and in the next five years, 95,000 German family firms will be sold, acquired, or liquidated. For family firms, socioemotional wealth represents the frame of reference and value to preserve when making decisions. Family firm exits threaten the socioemotional wealth, as in extreme scenarios, economic logic may take over. So, a dilemma arises: Maintaining socioemotional wealth versus pursuing financial wealth. Family firm researchers agree that family involvement leads to specific goals, behaviors, and outcomes. For instance, the desire to protect socioemotional wealth when selling the firm and the focus on particular exit success dimensions, depending on the family's role inside the firm. However, despite the regularity of family firm exits, there is little research on the effect of family involvement on the family firm CEOs' perceived exit performance. We investigate the family firm CEOs' perceived exit performance, which we call exit success. Considering the deficiencies in the literature, we identify two research gaps. First, it remains unclear how family involvement affects the dimensions of exit success. Hence, we provide evidence of which success dimensions matter most depending on the family's involvement and how to differentiate successful from unsuccessful exits. Second, prior work has analyzed family involvement in the socioemotional wealth context but found contradictory findings. This work considers, for example, the family generation in control and identifies the tipping point of economic objectives becoming preferable over socioemotional wealth-related goals. This paper theorizes and empirically investigates, through the lens of socioemotional wealth and conflict theory, how socioemotional wealth mediates the relationship between family involvement and family firms' exit success. We analyze family firms' exit success dimensions of personal financial benefits, personal reputation, employee benefits, and firm mission persistence. Family involvement considers the family firms' heterogeneity in ownership, management, and generation. We use a quantitative approach in the form of an online survey by drawing on 116 responses from former family firm CEOs'. This study highlights that socioemotional wealth mediates the relationship between the dimensions of family involvement and exit success. The greater socioemotional wealth, the greater the family firm CEOs focus on the pro-organizational exit success dimensions of employee benefits and firm mission persistence. In contrast, the self-regarding dimension of personal financial benefits is significantly negatively affected. An important finding is that later generations and the number of family managers involved significantly negatively affect the two pro-organizational dimensions of exit success. Family ownership does not show any significant effect. Our work widens implications for research, theory, and practice by contributing in two meaningful ways. First, our results offer insights to differentiate successful from unsuccessful family firm exits and provide evidence of which success dimensions matter and which to focus on, most dependent on the family's role inside the firm. Second, our article advances research and empirical understanding of family firms and socioemotional wealth by clarifying contradictory findings.

Keywords: exit success, family firm exit, perceived exit performance, socioemotional wealth

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3863 Energy Saving as a Mean to Increase Energy Access in Sub-Saharan Africa

Authors: Joseph Levodo, Ndimbarafine Young Tobin, E. Messina, P. Edouma

Abstract:

Energy efficiency can contribute significantly towards increasing clean energy access to modern energy services. Many developing countries have largely focused on expanding energy access by increasing supply. This is due to the fact the links between energy efficiency and clean energy access are often unnoticed. Energy efficiency measures offer the promise of reducing energy use and saving money on electricity bills, as well as reducing negative environmental externalities associated with the production of electricity. This paper seeks to address the economic and effectiveness of reducing energy consumption by integrating energy efficiency as a priority to meet energy access examines the barriers to energy efficient in sub-Saharan African countries. The findings from this study reveal that an appropriate policy can promote the development of more energy-efficient buildings, products and strengthen incentives for consumers, businesses, and industrial customers to pursue cost-effective energy-efficiency measures and to make investments that will provide future energy-efficiency improvements.

Keywords: barriers, Sub-Saharan Africa, cost effective, energy savings, clean energy

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3862 Shifting Paradigms for Micro, Small, and Medium Enterprises in the Global Construction Market: The Crucial Roles of Technology and Sustainability

Authors: Sohrab Donyavi

Abstract:

The global construction market is experiencing significant shifts, particularly for micro, small, and medium enterprises (MSMEs), driven by the dual imperatives of technological advancement and sustainability. MSMEs play a crucial role in the construction industry, often being the backbone of economic development and fostering entrepreneurial skills. However, their dominance has also led to industry fragmentation and challenges such as technological lag and declining profit margins, which threaten their global competitiveness. This paper explores the integration of technology and sustainability in reshaping the paradigms for MSMEs in the construction sector. The adoption of advanced technologies, such as building information modeling (BIM) and AI, are pivotal for promoting sustainable construction practices. These tools enable MSMEs to design and construct environmentally responsible buildings, thereby contributing to the industry's sustainability goals. The research highlights that achieving sustainability in construction involves significant efforts in conservation, recycling, and the development of new materials and technologies. This approach aligns with the broader goal of integrating economic, environmental, and social aims into firm objectives to create long-term value while ensuring the protection of natural resources for future generations. Critical factors for implementing sustainable oriented innovation (SOI) practices in MSMEs include top management support, government initiatives, and financial resources. These factors are essential for fostering an environment conducive to innovation and sustainability. Furthermore, the empowerment of MSMEs through improved governance, market-oriented programs, sustainable productivity growth, and access to financing is vital. In developing regions like Indonesia, these strategies are crucial for enabling MSMEs to thrive in the face of globalization. The tendency of large firms to grow larger with the help of technology and globalization has led to the emergence of a high-technology oligopoly, posing a significant challenge to traditional construction practices. This shift necessitates that MSMEs adapt by leveraging technology and embracing sustainable practices to remain competitive. The research underscores the importance of integrating technology and sustainability not only as a competitive strategy but also as a means to contribute to the global effort of environmental conservation and sustainable development. This paper concludes that the successful integration of technology and sustainability in MSMEs requires a multifaceted approach. It involves the adoption of advanced technological tools, strong support from top management, proactive government policies, and access to financial resources. By addressing these factors, MSMEs can overcome the challenges of industry fragmentation, technological lag, and declining profit margins. Ultimately, this integration will enable MSMEs to play a pivotal role in driving the construction industry towards a more sustainable and technologically advanced future. The findings and recommendations are based on a comprehensive case study utilizing semi-structured interviews, observations, questionnaires, and document reviews.

Keywords: MSMEs, construction, technology, sustainability, innovation

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3861 Design and Optimization Fire Alarm System to Protect Gas Condensate Reservoirs With the Use of Nano-Technology

Authors: Hefzollah Mohammadian, Ensieh Hajeb, Mohamad Baqer Heidari

Abstract:

In this paper, for the protection and safety of tanks gases (flammable materials) and also due to the considerable economic value of the reservoir, the new system for the protection, the conservation and fire fighting has been cloned. The system consists of several parts: the Sensors to detect heat and fire with Nanotechnology (nano sensor), Barrier for isolation and protection from a range of two electronic zones, analyzer for detection and locating point of fire accurately, Main electronic board to announce fire, Fault diagnosis in different locations, such as relevant alarms and activate different devices for fire distinguish and announcement. An important feature of this system, high speed and capability of fire detection system in a way that is able to detect the value of the ambient temperature that can be adjusted. Another advantage of this system is autonomous and does not require human operator in place. Using nanotechnology, in addition to speeding up the work, reduces the cost of construction of the sensor and also the notification system and fire extinguish.

Keywords: analyser, barrier, heat resistance, general fault, general alarm, nano sensor

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3860 Mechanism of Religion on Community Movement for Solid Waste Management

Authors: Sophaphan Intahphuak, Narong Pamala, Boonyaporn Yodkhong, Samuhavitayaa

Abstract:

The amount of solid waste increases each year as a result of population growth, urbanization and economic expansion; however, there was little public cooperation in the segregation of solid waste due to the lack of awareness. This study aims to encourage all sectors in the community to participate in the development of a suitable model to reduce environmental waste by emerging the cultural context that bares a close relationship with Buddhism through faith and merit-making. The monks, involving stakeholder in the entire waste management system, help publicize the campaign on Buddhist holy days, religious ceremonies and they also teach people to be responsible for the garbage problem in the community. As for the garbage brought for merit-making, they are sold and the money is used to help build the pavilion. It was found that people can separate recycled garbage and the amount of solid waste slightly decrease. The results obtained suggest that the religion is not only the moral center of the community, it is also the center of community empowerment to consciousness in waste management.

Keywords: community empowerment, religion’s role, waste management, recycled garbage

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3859 Comparative Analysis of Some Mineral Profile of Honey Marketed and Consumed in Some of the States in Northern Part of Country, Nigeria

Authors: R. Odoh, M. S. Dauda, E. A. Kamba, N. C. Igwemmar

Abstract:

Honey and honey trade is an important economic activity for many tropical rural and urban areas worldwide. In West Africa and other part of the world, honey and honey products holds high socio–cultural, religious, medicinal and traditional values. Therefore, to maximize benefits or to enhance profit, a variety of components are added to the raw, fresh and unprocessed honey, introducing the possibility of heavy metals contaminants. Therefore the honey sold in various places, markets and shops in some states in Northern Nigeria (Benue, Nassarawa and Taraba) including Abuja FCT, in Nigeria was analyzed to determine the level of heavy metals (Cd, Co, Cr, Cu, Fe, Mn, Ni, Pb, and Zn). All the honey samples contain heavy metals. The results ranged from 0.028–0.070, 0.023–0.058, 0.042–0.092, 4.231–8.589, 8.115–14.892, 0.078–0.922, 0.044–0.092, 0.041–0.087 and 18.234–28.654 μg/L for Cd, Co, Cr, Cu, Fe, Mn, Ni, Pb and Zn respectively. The mean concentration (μg/L) of the heavy metals Cd, Co, Cr, Cu, Fe, Mn, Ni, Pb, and Zn of the regularly marketed honey is significantly higher than the mean concentration observed in raw, fresh and unprocessed honey. However, continued consumption of honey with high heavy metal content might lead to exposure to chronic heavy metal poisoning.

Keywords: honey, health, mineral profile adulteration, contamination

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3858 FDI, Environmental Regulations and Innovation Performance of Chinese Enterprises

Authors: Yan Chen, Hongbing Li, Ruirui Zhai

Abstract:

Innovation driven and innovation in the process of new-type urbanization is a major strategic choice for the introduction of foreign capital and the process of economic development. This research investigates the effect of urbanization, FDI and environmental regulations on innovation performance of enterprises, based on Chinese Industrial Statistics Database of 2004 to 2007 and data at province-level. It is found that the FDI from U.S. and environmental regulations will hinder the creativity of Chinese industry through reducing the R&D of them. However, the FDI from U.S. enhances the ability of domestic enterprises to attain “compensation from innovation” following the environmental regulations. Meanwhile, we confirm that environmental regulation can contribute to the innovation spillover of FDI from U.S. Furthermore, the channel of effect is discussed. In addition, FDI from EU and Japan are further examined. Unlike the FDI from U.S., the FDI from EU and Japan both have the positive innovation spillover effect, but through the same channel referred above which exist in FDI. Further analysis based on "innovation-driven effect" of urbanization is developed, and it is found that urbanization has an innovation-driven effect on environmental regulation and FDI spillover. The regulation of FDI from the United States and the European Union outperforms the FDI from Japan at a restrained degree.

Keywords: environmental regulations, FDI, innovation-driven, innovation performance

Procedia PDF Downloads 442
3857 An Optimization Model for Waste Management in Demolition Works

Authors: Eva Queheille, Franck Taillandier, Nadia Saiyouri

Abstract:

Waste management has become a major issue in demolition works, because of its environmental impact (energy consumption, resource consumption, pollution…). However, improving waste management requires to take also into account the overall demolition process and to consider demolition main objectives (e.g. cost, delay). Establishing a strategy with these conflicting objectives (economic and environment) remains complex. In order to provide a decision-support for demolition companies, a multi-objective optimization model was developed. In this model, a demolition strategy is computed from a set of 80 decision variables (worker team composition, machines, treatment for each type of waste, choice of treatment platform…), which impacts the demolition objectives. The model has experimented on a real-case study (demolition of several buildings in France). To process the optimization, different optimization algorithms (NSGA2, MOPSO, DBEA…) were tested. Results allow the engineer in charge of this case, to build a sustainable demolition strategy without affecting cost or delay.

Keywords: deconstruction, life cycle assessment, multi-objective optimization, waste management

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3856 Optimization of the Dam Management to Satisfy the Irrigation Demand: A Case Study in Algeria

Authors: Merouane Boudjerda, Bénina Touaibia, Mustapha K Mihoubi

Abstract:

In Algeria, water resources play a crucial role in economic development. But over the last decades, they are relatively limited and gradually decreasing to the detriment of agriculture. The agricultural irrigation is the primary water consuming sector followed by the domestic and industrial sectors. The research presented in this paper focuses on the optimization of irrigation water demand. Dynamic Programming-Neural Network (DPNN) method is applied to investigate reservoir optimization. The optimal operation rule is formulated to minimize the gap between water release and water irrigation demand. As a case study, Boukerdane dam’s reservoir system in North of Algeria has been selected to examine our proposed optimization model. The application of DPNN method allowed increasing the satisfaction rate (SR) from 34% to 60%. In addition, the operation rule generated showed more reliable and resilience operation for the examined case study.

Keywords: water management, agricultural demand, Boukerdane dam, dynamic programming, artificial neural network

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3855 The High Potential and the Little Use of Brazilian Class Actions for Prevention and Penalization Due to Workplace Accidents in Brazil

Authors: Sandra Regina Cavalcante, Rodolfo A. G. Vilela

Abstract:

Introduction: Work accidents and occupational diseases are a big problem for public health around the world and the main health problem of workers with high social and economic costs. Brazil has shown progress over the last years, with the development of the regulatory system to improve safety and quality of life in the workplace. However, the situation is far from acceptable, because the occurrences remain high and there is a great gap between legislation and reality, generated by the low level of voluntary compliance with the law. Brazilian laws provide procedural legal instruments for both, to compensate the damage caused to the worker's health and to prevent future injuries. In the Judiciary, the prevention idea is in the collective action, effected through Brazilian Class Actions. Inhibitory guardianships may impose both, improvements to the working environment, as well as determine the interruption of activity or a ban on the machine that put workers at risk. Both the Labor Prosecution and trade unions have to stand to promote this type of action, providing payment of compensation for collective moral damage. Objectives: To verify how class actions (known as ‘public civil actions’), regulated in Brazilian legal system to protect diffuse, collective and homogeneous rights, are being used to protect workers' health and safety. Methods: The author identified and evaluated decisions of Brazilian Superior Court of Labor involving collective actions and work accidents. The timeframe chosen was December 2015. The online jurisprudence database was consulted in page available for public consultation on the court website. The categorization of the data was made considering the result (court application was rejected or accepted), the request type, the amount of compensation and the author of the cause, besides knowing the reasoning used by the judges. Results: The High Court issued 21,948 decisions in December 2015, with 1448 judgments (6.6%) about work accidents and only 20 (0.09%) on collective action. After analyzing these 20 decisions, it was found that the judgments granted compensation for collective moral damage (85%) and/or obligation to make, that is, changes to improve prevention and safety (71%). The processes have been filed mainly by the Labor Prosecutor (83%), and also appeared lawsuits filed by unions (17%). The compensation for collective moral damage had average of 250,000 reais (about US$65,000), but it should be noted that there is a great range of values found, also are several situations repaired by this compensation. This is the last instance resource for this kind of lawsuit and all decisions were well founded and received partially the request made for working environment protection. Conclusions: When triggered, the labor court system provides the requested collective protection in class action. The values of convictions arbitrated in collective actions are significant and indicate that it creates social and economic repercussions, stimulating employers to improve the working environment conditions of their companies. It is necessary to intensify the use of collective actions, however, because they are more efficient for prevention than reparatory individual lawsuits, but it has been underutilized, mainly by Unions.

Keywords: Brazilian Class Action, collective action, work accident penalization, workplace accident prevention, workplace protection law

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