Search results for: regulatory changes

Authors: G. L. Rithika, Arvind B. S., Akash R., Ananda Vinayak, Hema M. S.

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Cryptocurrencies were first launched in the year 2009 and have been a great asset to own. Cryptocurrencies are a representation of a completely distinct decentralization model for money. They also contribute to the elimination of currency monopolies and the liberation of money from control. The fact that no government agency can determine a coin's value or flow is what cryptocurrency advocates believe makes them safe and secure. The aim of this paper is to analyze the economic implications of cryptocurrency and how it would disrupt traditional financial systems. This paper analyses the growth of Cryptocurrency over the years and the potential threats of cryptocurrency to financial systems. Our analysis shows that although the DeFi design, like the traditional financial system, may have the ability to lower transaction costs, there are multiple layers where rents might build up because of endogenous competition limitations. The permissionless and anonymous design of DeFi poses issues for ensuring tax compliance, anti-money laundering laws and regulations, and preventing financial misconduct.

Keywords: cryptocurrencies, bitcoin, blockchain technology, traditional financial systems, decentralisation, regulatory framework

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Authors: Adam Abate, Elham Rasti, Philip Romero

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Beta-glucosidase is the key enzyme component present in cellulase and completes the final step during cellulose hydrolysis by converting the cellobiose to glucose. The regulatory properties of beta-glucosidases are most commonly found for the retaining and inverting enzymes. Hydrolysis of a glycoside typically occurs with general acid and general base assistance from two amino acid side chains, normally glutamic or aspartic acids. In order to obtain more detailed information on the dynamic events origination from the interaction with enzyme active site, we carried out molecular dynamics simulations of beta-glycosidase in protonated state (Glu-H178) and deprotonated state (Glu178). The theoretical models generated from our molecular dynamics simulations complement and advance the structural information currently available, leading to a more detailed understanding of Beta-glycosidase structure and function. This article presents the important role of Asn307 in enzyme activity of beta-glucosidase

Keywords: Beta-glucosidase, GROMACS, molecular dynamics simulation, structural parameters

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Authors: Sylwia Frydrych, Jörg Prokop, Michał Buszko

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This study investigates the complex relationship between corporate ESG (Environmental, Social, Governance) performance and stock price risk within the European market context. By analyzing a dataset of 435 companies across 19 European countries, the research assesses the impact of both combined ESG performance and its individual components on various risk measures, including volatility, idiosyncratic risk, systematic risk, and downside risk. The findings reveal that while overall ESG scores do not significantly influence stock price risk, disaggregating the ESG components uncovers significant relationships. Governance practices are shown to consistently reduce market risk, positioning them as critical in risk management. However, environmental engagement tends to increase risk, particularly in times of regulatory shifts like those introduced in the EU post-2018. This research provides valuable insights for investors and corporate managers on the nuanced roles of ESG factors in financial risk, emphasizing the need for careful consideration of each ESG pillar in decision-making processes.

Keywords: ESG performance, ESG factors, ESG pillars, ESG scores

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Authors: C. Cole, M. Osmani, A. Wheatley, M. Quddus

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EU and UK Government targets for minimising and recycling household waste has led the responsible authorities to research the alternatives to landfill. In the work reported here the local waste collection authority (Charnwood Borough Council) has adopted the aspirational strategy of becoming a “Zero Waste Borough” to lead the drive for public participation. The work concludes that the separate collection of food waste would be needed to meet the two regulatory standards on recycling and biologically active wastes. An analysis of a neighbouring Authority (Newcastle-Under-Lyne Borough Council (NBC), a similar sized local authority that has a successful weekly food waste collection service was undertaken. Results indicate that the main challenges for Charnwood Borough Council would be gaining householder co-operation, the extra costs of collection and organising alternative treatment. The analysis also demonstrated that there was potential offset value via anaerobic digestion for CBC to overcome these difficulties and improve its recycling performance.

Keywords: England, food waste collections, household waste, local authority

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Authors: N. N. Mosola, K. F. Moeketsi, R. Sehobai, N. Pule

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The Internet brings increasing use of Information and Communications Technology (ICT) services and facilities. Consequently, new computing paradigms emerge to provide services over the Internet. Although there are several benefits stemming from these services, they pose several risks inherited from the Internet. For example, cybercrime, identity theft, malware etc. To thwart these risks, this paper proposes a holistic approach. This approach involves multidisciplinary interactions. The paper proposes a top-down and bottom-up approach to deal with cyber security concerns in developing countries. These concerns range from regulatory and legislative areas, cyber awareness, research and development, technical dimensions etc. The main focus areas are highlighted and a cybersecurity model solution is proposed. The paper concludes by combining all relevant solutions into a proposed cybersecurity model to assist developing countries in enhancing a cyber-safe environment to instill and promote a culture of cybersecurity.

Keywords: cybercrime, cybersecurity, computer emergency response team, computer security incident response team

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Authors: Luisa Perez-Mujica

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Traditionally, non-compliance in water regulation has been understood to be attributable to lack of information or knowledge of regulations. In other words, it is confusing behavioural change and education with communication or regulations. However, compliance is a complex response to water regulation factors including 1) knowledge and understanding of regulations; 2) perception that resources are overregulated; 3) presence of regulatory officers in the field; 4) accurate communication of what is being protected; 5) time lag between behavioral change projects and observation of outcomes and 6) how success of behavioral change is measured and evaluated. This paper presents a framework for designing education and behavioral change projects by understanding non-compliance in terms of the interaction of its factors, including a process for prioritizing projects, actions, evaluation and monitoring of outcomes. By taking a systemic approach to compliance, a more directed type of actions can be efficiently identified and prioritized, preventing the reactive nature of education and behavioral change projects.

Keywords: water regulation, compliance, behaviour change, systems thinking

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Authors: Tin Thongthammachart, Wanida Jinsart

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Atmospheric particulate matter particles with a diameter less than 10 microns (PM₁₀) and less than 2.5 microns (PM₂.₅) have adverse health effect. The impact from PM was studied from both health and regulatory perspective. Ambient PM data was collected over ten years in Bangkok and vicinity areas of Thailand from 2007 to 2017. Statistical models were used to forecast PM concentrations from 2018 to 2020. Monitoring monthly data averaged concentration of PM₁₀ and PM₂.₅ were used as input to forecast the monthly average concentration of PM. The forecasting results were validated by root means square error (RMSE). The predicted results were used to determine hazard risk for the carcinogenic disease. The health risk values were interpolated with GIS with ordinary kriging technique to create hazard maps in Bangkok and vicinity area. GIS-based maps illustrated the variability of PM distribution and high-risk locations. These evaluated results could support national policy for the sake of human health.

Keywords: PM₁₀, PM₂.₅, statistical models, atmospheric particulate matter

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Authors: Matthias Nnadi

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Using samples of 250 large listed firms by market capitalization in China and Hong Kong, we conducted empirical test to determine the impact of regulatory environment on reporting quality following IFRS convergence using three financial reporting measures; earning management, timely loss recognition and value relevance. Our results indicate that accounting data are more value relevant for Hong Kong listed firms than the Chinese A-share firms. The empirical results for timely loss recognition further reveal that there is a larger coefficient estimate on bad news earnings, which suggests that Chines A-share firms are more likely to report losses in a timely manner. The results support the evidence that substantial convergence of IFRS can improve financial reporting quality in a regulated environment such as China. This further supports the expectation that IFRS are relevant to China and has positive effect on its accounting practice and quality.

Keywords: reporting, quality, earning, loss, relevance, financial, China, Hong Kong

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Authors: Yusra Tariq

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The Grass 37 gene is presently known in tomatoes, which are the source of healthy substances such as ascorbic acid, polyphenols, carotenoids and nutrients. It has a significant impact on the growth and development of humans. The GRASS 37 gene is a plant Transcription factor group assuming significant parts in various reactions of different Abiotic stresses such as (drought, salinity, thermal stresses, temperature, and bright waves) which could highly affect the growth. Tomatoes are very sensitive to temperature, and their growth or production occurs optimally in a temperature range from 21 C to 29.5 C during the daytime and from 18.5 C to 21 C during the night. This protein acts as a positive regulator of salt stress response and abscisic acid signaling. This study summarizes the structure characterized by molecular formula and protein-binding domains by different bioinformatics tools such as Expasy translate tool, Expasy Portparam, Swiss Prot and Inter Pro Scan, Clustal W tool regulatory procedure of GRASS gene components, also their reactions to both biotic and Abiotic stresses.

Keywords: GRAS37, gene, bioinformatics, tool

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Authors: Phawichsak Prapassornpitaya, Wanida Jinsart

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Daily monitoring PM₁₀ and PM₂.₅ data from 2007 to 2017 were analyzed to provide baseline data for prediction of the air pollution in Bangkok in the period of 2018 -2020. Two statistical models, Autoregressive Integrated Moving Average model (ARIMA) were used to evaluate the trends of pollutions. The prediction concentrations were tested by root means square error (RMSE) and index of agreement (IOA). This evaluation of the traffic PM₂.₅ and PM₁₀ were studied in association with the regulatory control and emission standard changes. The emission factors of particulate matter from diesel vehicles were decreased when applied higher number of euro standard. The trends of ambient air pollutions were expected to decrease. However, the Bangkok smog episode in February 2018 with temperature inversion caused high concentration of PM₂.₅ in the air environment of Bangkok. The impact of traffic pollutants was depended upon the emission sources, temperature variations, and metrological conditions.

Keywords: fine particulate matter, ARIMA, RMSE, Bangkok

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Authors: Srinivasa Reddy Mallampati, Chi-Hyeon Lee, Nguyen Thi Thanh Truc, Byeong-Kyu Lee

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In the present study, feasibility of the selective surface hydrophilization of polyvinyl chloride (PVC) by microwave treatment was evaluated to facilitate the separation from automotive shredder residue (ASR), by the froth flotation. The combination of 60 sec microwave treatment with PAC, a sharp and significant decrease about 16.5° contact angle of PVC was observed in ASR plastic compared with other plastics. The microwave treatment with the addition of PAC resulted in a synergetic effect for the froth flotation, which may be a result of the 90% selective separation of PVC from ASR plastics, with 82% purity. While, simple mixing with a nanometallic Ca/CaO/PO4 dispersion mixture immobilized 95-100% of heavy metals in ASR soil/residues. The quantity of heavy metals leached from thermal residues after treatment by nanometallic Ca/CaO/PO4 was lower than the Korean standard regulatory limit for hazardous waste landfills. Microwave treatment can be a simple and effective method for PVC separation from ASR plastics.

Keywords: automotive shredder residue, chlorinated plastics, hazardous waste, heavy metals, immobilization, separation

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Authors: Muneeb Ahmad, Ali Raza

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A computational method inspired by the immune system (IS) is presented, leveraging its shared characteristics of robustness, fault tolerance, scalability, and adaptability with swarm intelligence. This method aims to showcase flocking behaviors in a swarm of robots (SR). The innate part of the IS offers a variety of reactive and probabilistic cell functions alongside its self-regulation mechanism which have been translated to enable swarming behaviors. Although, the research is specially focused on flocking behaviors in a variety of simulated environments using e-puck robots in a physics-based simulator (CoppeliaSim); the artificial innate immune system (AIIS) can exhibit other swarm behaviors as well. The effectiveness of the immuno-inspired approach has been established with extensive experimentations, for scalability and adaptability, using standard swarm benchmarks as well as the immunological regulatory functions (i.e., Dendritic Cells’ Maturity and Inflammation). The AIIS-based approach has proved to be a scalable and adaptive solution for emulating the flocking behavior of SR.

Keywords: artificial innate immune system, flocking swarm, immune system, swarm intelligence

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Authors: Sricheta Chowdhury

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To require a woman to choose between her work and her personal life is the most acute form of discrimination that can be meted out against her. No woman should be given a choice to choose between her motherhood and her career at Bar, yet that is the most detrimental discrimination that has been happening in Indian Bar, which no one has questioned so far. The falling number of women in practice is a reality that isn’t garnering much attention given the sharp rise in women studying law but is not being able to continue in the profession. Moving from a colonial misogynist whim to a post-colonial “new-age construct of Indian woman” façade, the policymakers of the Indian Judiciary have done nothing so far to decolonize itself from its rudimentary understanding of ‘equality of gender’ when it comes to the legal profession. Therefore, when Indian jurisprudence was (and is) swooning to the sweeping effect of transformative constitutionalism in the understanding of equality as enshrined under the Indian Constitution, one cannot help but question why the legal profession remained out of brushing effect of achieving substantive equality. The Airline industry’s discriminatory policies were not spared from criticism, nor were the policies where women’s involvement in any establishment serving liquor (Anuj Garg case), but the judicial practice did not question the stereotypical bias of gender and unequal structural practices until recently. That necessitates the need to examine the existing Bar policies and the steps taken by the regulatory bodies in assessing the situations that are in favor or against the purpose of furthering women’s issues in present-day India. From a comparative feminist point of concern, South Africa’s pro-women Bar policies are attractive to assess their applicability and extent in terms of promoting inclusivity at the Bar. This article intends to tap on these two countries’ potential in carving a niche in giving women an equal platform to play a substantive role in designing governance policies through the Judiciary. The article analyses the current gender composition of the legal profession while endorsing the concept of substantive equality as a requisite in designing an appropriate appointment process of the judges. It studies the theoretical framework on gender equality, examines the international and regional instruments and analyses the scope of welfare policies that Indian legal and regulatory bodies can undertake towards a transformative initiative in re-modeling the Judiciary to a more diverse and inclusive institution. The methodology employs a comparative and analytical understanding of doctrinal resources. It makes quantitative use of secondary data and qualitative use of primary data collected for determining the present status of Indian women legal practitioners and judges. With respect to quantitative data, statistics on the representation of women as judges and chief justices and senior advocates from their official websites from 2018 till present have been utilized. In respect of qualitative data, results of the structured interviews conducted through open and close-ended questions with retired lady judges of the higher judiciary and senior advocates of the Supreme Court of India, contacted through snowball sampling, are utilized.

Keywords: gender, higher judiciary, legal profession, representation, substantive equality

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Authors: Rodrigo Zepeda

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Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.

Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments

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Authors: L. Cesari, D. Alonso, F. Mutelet

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The interest in cold production has been on the increase in absorption chillers for many years. In fact, the absorption cycles replace the compressor and thus reduce electrical consumption. The devices also allow waste heat generated through industrial activities to be recovered and cooled to a moderate temperature in accordance with regulatory guidelines. Many working fluids were investigated but could not compete with the commonly used {H2O + LiBr} and {H2O + NH3} to author’s best knowledge. Yet, the corrosion, toxicity and crystallization phenomena of these mixtures prevent the development of the absorption technology. This work investigates the possible use of a glyceline deep eutectic solvent (DES) and CO2 as working fluid in an absorption chiller. To do so, good knowledge of the mixtures is required. Experimental measurements (vapor-liquid equilibria, density, and heat capacity) were performed to complete the data lacking in the literature. The performance of the mixtures was quantified by the calculation of the coefficient of performance (COP). The results show that working fluids containing DES + CO2 are an interesting alternative and lead to different trails of working mixtures for absorption and chiller.

Keywords: absorption devices, deep eutectic solvent, energy valorization, experimental data, simulation

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Authors: Maymona Al-Husari, Craig Murdoch, Steven Webb

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Some tumors are known to exhibit an extracellular pH that is more acidic than the intracellular, creating a 'reversed pH gradient' across the cell membrane and this has been shown to affect their invasive and metastatic potential. Tumour hypoxia also plays an important role in tumour development and has been directly linked to both tumour morphology and aggressiveness. In this paper, we present a hybrid mathematical model of intracellular pH regulation that examines the effect of oxygen and pH on tumour growth and morphology. In particular, we investigate the impact of pH regulatory mechanisms on the cellular pH gradient and tumour morphology. Analysis of the model shows that: low activity of the Na+/H+ exchanger or a high rate of anaerobic glycolysis can give rise to a 'fingering' tumour morphology; and a high activity of the lactate/H+ symporter can result in a reversed transmembrane pH gradient across a large portion of the tumour mass. Also, the reversed pH gradient is spatially heterogenous within the tumour, with a normal pH gradient observed within an intermediate growth layer, that is the layer between the proliferative inner and outermost layer of the tumour.

Keywords: acidic pH, cellular automaton, ebola, tumour growth

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Authors: Yujie Yuan, Yiyang Fan, Hong Fan

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Objective: The RNA methylation recognition protein Aly/REF export factor (ALYREF) is considered one type of “reader” protein acting as a recognition protein of m5C, has been reported involved in several biological progresses including cancer initiation and progression. 5-methylcytosine (m5C) is a conserved and prevalent RNA modification in all species, as accumulating evidence suggests its role in the promotion of tumorigenesis. It has been claimed that ALYREF mediates nuclear export of mRNA with m5C modification and regulates biological effects of cancer cells. However, the systematical regulatory pathways of ALYREF in cancer tissues have not been clarified, yet. Methods: The expression level of ALYREF in pan-cancer and their normal tissues was compared through the data acquired from The Cancer Genome Atlas (TCGA). The University of Alabama at Birmingham Cancer data analysis Portal UALCAN was used to analyze the relationship between ALYREF and clinical pathological features. The relationship between the expression level of ALYREF and prognosis of pan-cancer, and the correlation genes of ALYREF were figured out by using Gene Expression Correlation Analysis database GEPIA. Immune related genes were obtained from TISIDB (an integrated repository portal for tumor-immune system interactions). Immune-related research was conducted by using Estimation of STromal and Immune cells in MAlignant Tumor tissues using Expression data (ESTIMATE) and TIMER. Results: Based on the data acquired from TCGA, ALYREF has an obviously higher-level expression in various types of cancers compared with relevant normal tissues excluding thyroid carcinoma and kidney chromophobe. The immunohistochemical images on The Human Protein Atlas showed that ALYREF can be detected in cytoplasm, membrane, but mainly located in nuclear. In addition, a higher expression level of ALYREF in tumor tissue generates a poor prognosis in majority of cancers. According to the above results, cancers with a higher expression level of ALYREF compared with normal tissues and a significant correlation between ALYREF and prognosis were selected for further analysis. By using TISIDB, we found that portion of ALYREF co-expression genes (such as BIRC5, H2AFZ, CCDC137, TK1, and PPM1G) with high Pearson correlation coefficient (PCC) were involved in anti-tumor immunity or affect resistance or sensitivity to T cell-mediated killing. Furthermore, based on the results acquired from GEPIA, there was significant correlation between ALYREF and PD-L1. It was exposed that there is a negative correlation between the expression level of ALYREF and ESTIMATE score. Conclusion: The present study indicated that ALYREF plays a vital and universal role in cancer initiation and progression of pan-cancer through regulating mitotic progression, DNA synthesis and metabolic process, and RNA processing. The correlation between ALYREF and PD-L1 implied ALYREF may affect the therapeutic effect of immunotherapy of tumor. More evidence revealed that ALYREF may play an important role in tumor immunomodulation. The correlation between ALYREF and immune cell infiltration level indicated that ALYREF can be a potential therapeutic target. Exploring the regulatory mechanism of ALYREF in tumor tissues may expose the reason for poor efficacy of immunotherapy and offer more directions of tumor treatment.

Keywords: ALYREF, pan-cancer, immunotherapy, PD-L1

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Authors: Khin Thi Htun, James Jain, Tim Andrews

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This study examines the under-researched phenomenon of crowdfunding use and effectiveness in developing non-western markets. More precisely, using an institutional theoretical lens, the research explores the attitudes, motivations, and practice surrounding the initiation, development, and receipt of crowdfunding campaignsin a business context symptomatic of widely dissimilar regulatory, normative cognitive institutional ‘pillars’ to those studied – and utilized in practice - to date. As, in essence, a form of alternative finance, crowdfunding is used primarily to fund a wide range of projects through the securement of small amounts of money from a large pool of investors/participants. Being tied almost inextricably to e-commerce channels, the practice of crowdfunding typically sources its means and communicates the purpose of each venture mainly, though not exclusively, online. The wide range of projects supported to date span social entrepreneurship, community benefits initiatives, creative and artistic endeavors, assistance to disadvantaged social cohorts, and small business start-ups. Adopting a longitudinal, comparative approach, the study reported here embodies an investigation centered on six case start-up campaigns within the Thai societal context, covering a range of fundings calls and cause choices. Data was sourced from a variety of respondents using semi-structured interviews, observation (direct and participant), and company information. Results suggest that the motives and effectiveness of crowdfunding campaigns differ significantly in non-western consumer contexts from the norms that have evolved to date in mature Western contexts(particularly the US and UK). Specifically, whereas data on the different regulatory pressures showed relatively insignificant variation, the results regarding cognitive and, especially, normative dissimilarities between the Thai and US/UK institutional profiles surfaced potentially important differences with far-reaching implications. Particular issuesto emerge from our data concerned consumer motivation in terms of support and engagement with different types of campaigns. This was found to stem from social norms symptomatic of ‘collectivist’ and ‘relations based/particularist’ cultural assistance behavior, in turn, linked to deeply-held societal values regarding interpersonal network (‘in group’) reciprocity. This research serves to refine and extend the limited body of knowledge to date on crowdfunding by exploring the phenomenon in a non-western, non-developed country contextswhere social norms and values differ. This was achieved through uncovering and explicating the effects of cultural dissimilarity on motivation, decision-making, construed ethics, and general engagement with crowdfunding ideas. Implications for theory into e-marketing and cross-cultural marketing, as well as for practitioners seeking to develop effective crowdfunding campaigns in a Southeast Asian cultural environment, are discussed to conclude the paper.

Keywords: crowdfunding, national culture, e-marketing, cross-cultural business

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Authors: Andhika Danesjvara, Nur Widyastanti

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The constitution regulates the forms, types, and powers of sState organs in a government. The powers of the organs are then regulated in more detail in the legislation. One of these organs is a government organ, headed by a president or by another name that serves as the main organizer of government. The laws and regulations will govern how the organs of government shall exercise their authority and functions. In a modern state, the function of enacting laws or called executive power does not exercise the functions of government alone, but there are other organs that help the government run the country. These organs are often called government agencies, government accelerating bodies, independent regulatory bodies, commissions, councils or other similar names. The legislation also limits the power of officials within the organs to keep from abusing its authority. The main question in this paper is whether organs are the implementation of a democratic country, or as a form of compromise with the power of stakeholders. It becomes important to see how the administrative organs perform their functions. The administrative organs that are bound by government procedures work in the public service; therefore the next question is how far the function of public service is appropriate and not contradictory to the constitution.

Keywords: administrative organs, constitution, democracy, government

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Authors: Heesu Kim

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This paper determines the varieties of state roles played in East Asia’s telecommunication market, regarding broadband industry. Technological capacity and the relationship between state and market affect the varieties of state role. In explaining the state’s engagement in the market, technology has always been considered as a necessary and sufficient condition. However technology variable has been useful in only explaining the extent of state’s involvement. This paper contributes by bringing in the political-economic factor, which is the relationship between state and market. This factor aids in distinguishing the varieties of state role played in emerging industries. Interaction between these two variables distinguishes 4 types of state roles played in the broadband industry. These roles are distinguished and characterized by the intensity of state’s intervention and the existence of technological capacity. This paper classifies four types of state role through the case of Singapore, China, Taiwan and Korea’s broadband industrial policy.

Keywords: East Asia, entrpreneurial state, industrial policy, regulatory state, technological capacity

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Authors: Dorota Galeza

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This paper argues that networks, such as the ECN and the American network, are affected by certain small events which are inherent to path dependence and preclude the full evolution towards efficiency. It is advocated that the American network is superior to the ECN in many respects due to its greater flexibility and longer history. This stems in particular from the creation of the American network, which was based on a small number of cases. Such structure encourages further changes and modifications which are not necessarily radical. The ECN, by contrast, was established by legislative action, which explains its rigid structure and resistance to change. It might be the case that the ECN is subject not so much to path dependence but to past dependence. It might have to be replaced, as happened to its predecessor. This paper is an attempt to transpose the superiority of the American network on to the ECN. It looks at concepts such as judicial cooperation, harmonization of procedure, peer review and regulatory impact assessments (RIAs), and dispute resolution procedures. The aim is to adopt these concepts into the EU setting without recourse to legal transplantation. The major difficulty is that many of these concepts have been tested only in the US and it is difficult to tell whether they could be modified to meet EU standards. Concepts such as judicial cooperation might be difficult due to different language traditions in EU member states. It is hoped that greater flexibility, as in the American network, would boost legitimacy and transparency.

Keywords: ECN, networks, regulation, competition

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Authors: Siti Zabedah Saidin, Aidi Ahmi, Azharudin Ali, Wan Norhayati Wan Ahmad

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In today's increasingly complex and interconnected world, the concept of sustainability has transcended mere corporate social responsibility, evolving into a fundamental driver of organizational behaviour and disclosure. This content analysis study delves into the Malaysian federal-level statutory bodies’ annual report for the year 2021, aiming to elucidate the extent of sustainability disclosures within the non-financial sections of these reports. The escalating global emphasis on sustainability has prompted organizations to embrace transparency as a means to demonstrate their commitment to environmental, social, and governance (ESG) considerations. Voluntary sustainability disclosure has emerged as a crucial channel through which organizations communicate their efforts, initiatives, and impacts in these areas, thereby fostering trust and accountability with stakeholders. The study aims to identify and examine the types of sustainability information disclosed voluntarily by the federal-level statutory bodies, concentrating on the non-financial sections of the annual reports. To achieve this, the study adopts a simplified disclosure index, a pragmatic tool that quantifies the extent of sustainability reporting in a standardized manner. Using convenience sampling, the study selects a sample of annual reports from the federal-level statutory bodies in Malaysia, as provided on their respective websites. The content analysis is centred on the non-financial sections of these reports, allowing for an in-depth exploration of sustainability disclosures. The findings of the study present the extent to which Malaysian federal-level statutory bodies embrace sustainability reporting. Through thorough content analysis, the study uncovered diverse dimensions of sustainability information, encompassing environmental impact assessments, social engagement endeavours, and governance frameworks. This reveals a deliberate effort by these bodies to encapsulate their holistic organizational contributions and challenges, transcending traditional financial metrics. This research contributes to the existing literature by providing insights into the evolving landscape of sustainability disclosure practices among Malaysian federal-level statutory bodies. The findings underline the proactive nature of these bodies in voluntarily sharing sustainability-related information, reflecting their recognition of the interconnectedness between organizational success and societal well-being. Furthermore, the study underscores the potential influence of regulatory guidelines and societal expectations in shaping the extent and nature of voluntary sustainability disclosures. Organizations are not merely responding to regulatory mandates but are actively aligning with global sustainability goals and stakeholder expectations. As organizations continue to navigate the intricate web of stakeholder expectations and sustainability imperatives, this study enriches the discourse surrounding transparency and sustainability reporting. The analysis emphasizes the important role of non-financial disclosures in portraying a holistic organizational narrative. In an era where stakeholders demand accountability, and the interconnectedness of global challenges necessitates collaborative action, the voluntary disclosure of sustainability information stands as a testament to the commitment of Malaysian federal-level statutory bodies in shaping a more sustainable future.

Keywords: voluntary disclosure, sustainability information, annual report, federal-level statutory body

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Authors: Yasir Ramadhan

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This study aims to investigate tax avoidance practices when a financial crisis occurs due to the effects of the COVID-19 pandemic. This study also finds out how the influence of independent commissioners and external auditors on tax avoidance practices during the COVID-19 pandemic. Tax avoidance practices are measured by the current ETR. The role of the independent board of commissioners is measured by the proportion of independent commissioners in the composition of the board of commissioners, while the external auditor is measured by audit quality. In this study, there were 342 observations of companies listed on the Indonesia Stock Exchange from 2019 to 2020. This study used the difference-in-differences (DiD) method in data analysis. The results of this study indicate that companies do tax avoidance during the COVID-19 pandemic. Meanwhile, independent commissioners and qualified audits are not proven to be able to negate tax avoidance practices during the COVID-19 Pandemic. These results also show that a higher proportion of independent commissioners and audit quality are not sufficient for countries with low levels of auditor litigation and investor protection and weak regulatory frameworks.

Keywords: audit, commissioner, tax avoidance, COVID-19 pandemic

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Authors: Marwin M. Dela Cruz

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Aviation as a transport sector is supportive of the seventeen (17) Sustainable Goals espoused by the United Nations. Air Transport Action Group (ATAG) states that over 18.1 million indirect jobs globally were sustained through the purchase of goods and services by companies in the aviation industry. This supply chain activity contributed approximately $816.4 billion to global GDP. This was achieved through numerous actions to lessen economic uncertainty and challenges. Its impact is not just a by-product of economic activity but of the facilities it generates. As the aviation industry is unifying its efforts, education and training should also come with it. The need for aviation education and training and a well-crafted regulatory policy initiated by lawmakers can provide a better aviation education. The Philippine State College of Aeronautics (PhilSCA), being the only government Higher Education Institution (HEI) in the Philippines, is given a very distinct congressional mandate to offer aviation-related courses to afford those in the aviation industry the opportunity to pursue studies. Having this, the industry has become the precursor and venue of present-day communities. In addition, it becomes an essential measure of a better life.

Keywords: Philippine state college of aeronautics, aviation industry, sustainable goals, aviation education

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Authors: Seyedmohammad Mousavian, Hanlu Fan, Quingliang Tang

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Climate change is emerging as a severe threat to our society, so businesses are expected to take actions to mitigate carbon emissions. However, the actions to be taken depend on managers’ perceptions of climate change risks. Yet, there is scant research on this issue, and understanding of the determinants of corporate perceptions of climate change is extremely limited. The purpose of this study is to close this gap by examining the relationship between perceptions of climate risk and firm-level and country-level factors. In this study, climate change risk captures physical, regulatory, and other risks, and we use data from European companies that participated in CDP from 2010 to 2017. This study reveals those perceptions of climate change risk are significantly positively associated with the environmental, social, and governance score, firm size, and membership in a carbon-intensive sector. In addition, we find that managers in firms operating in a geographic area that is sensitive to the consequences of global warming are more likely to perceive and formally recognize carbon-related risks in their CDP reports.

Keywords: carbon actions, CDP, climate change risk, risk perception

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Authors: K. S. Bang, S. H. Yu, J. C. Lee, K. S. Seo, S. H. Lee

Abstract:

Dual purpose casks are used for storage and transport of spent nuclear fuel assemblies. Therefore, they satisfy the requirements prescribed in the Korea NSSC Act 2013-27, the IAEA Safety Standard Series No. SSR-6, and US 10 CFR Part 71. These regulatory guidelines classify the dual purpose cask as a Type B package, and state that a Type B package must be able to withstand a temperature of 800°C for a period of 30 min. Therefore, a fire test was conducted using a one-sixth slice of a real cask to estimate the thermal integrity of the dual purpose cask at a temperature of 800°C. The neutron shield reached a maximum temperature of 183°C, which indicates that dual purpose cask was properly insulated from the heat of the flames. The temperature rise of the basket during the fire test was 29°C. Therefore, the integrity of a spent nuclear fuel is estimated to be maintained. The temperature was lower when a cooling pin was installed. The neutron shielding was therefore protected adequately by cooling pin. As a result, the thermal integrity of the dual purpose cask was maintained and the cask is judged to be sufficiently safe for temperatures under 800°C.

Keywords: dual purpose cask, spent nuclear fuel, pool fire test, integrity

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Authors: Gerardette Darkwah, Gloria Ankar Brewoo, John Barimah, Gilbert Owiah Sampson, Vincent Abe-Inge

Abstract:

Soft drinks which are widely consumed in Ghana have been reported in other countries to contain toxic heavy metals beyond the acceptable limits in other countries. Therefore, the objective of this study was to assess the quality characteristics of selected locally produced and marketed soft drinks. Three (3) different batches of 23 soft drinks were sampled from the Takoradi markets. The samples were prescreened for the presence of reducing sugars, phosphates, alcohol and carbon dioxide. The heavy metal contents and physicochemical properties were also determined with AOAC methods. The results indicated the presence of reducing sugars, carbon dioxide and the absence of alcohol in all the selected soft drink samples. The pH, total sugars, moisture, total soluble solids (TSS) and titratable acidity ranged from 2.42 – 3.44, 3.30 – 10.44%, 85.63 – 94.85%, 5.00 – 13.33°Brix, and 0.21 – 1.99% respectively. The concentration of heavy metals were also below detection limits in all samples. The quality of the selected were within specifications prescribed by regulatory bodies.

Keywords: heavy metal contamination, locally manufactured, quality, soft drinks

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Authors: Intissar Abbes, Yousra Hallem, Jean-michel Sahut

Abstract:

The purpose of this research is to explore the legitimacy of a proximity mobile payment (PMP) system by taking into account the social aspects related to its use (social acceptability). We have chosen to focus on the acceptability process of a PMP application (‘Flashplay’) from the first testing to the adoption in a service context. This PMP solution is a pilot program developed as part of a global strategy of disintermediation in various sectors (retail, catering, and entertainment). This case is particularly interesting for two reasons: the context and environment are suitable to the adoption of innovation in payment like other African countries and the possibility to study different stages of the social acceptability process of that PMP system. The neo-institutional theory is mobilized to identify the three pillars of legitimacy: cognitive, normative and regulatory. A longitudinal qualitative study was conducted with 27 customers using the PMP service. Results highlighted the importance of the consumption system and the service provider as institutions. Recommendations are thus proposed to PMP service providers in order to rethink the design and implementation strategies of their PMP system to ensure their adoption and promote the institutionalization of this type of consumption practice.

Keywords: legitimacy, payment, acceptability, mobility

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Authors: Khan Sarfaraz, Mohammad Ali Mia

Abstract:

Money laundering and other financial crime have become a global threat in recent years, impacting both developed and poor countries. In developing countries like Bangladesh, it is more difficult to combat financial crime than in developing countries because of the inadequate regulatory environment and vulnerable financial system. Bangladesh's central bank issues guidelines to facilitate the implementation of the prevention of the money laundering act. According to the guideline of Bangladesh Bank, all financial institution has to develop anti-money laundering policy to ensure the safety and soundness of their institutions. The paper aims to focus on the role of authorized agencies in combating financial crime. In this paper, the latest trends in financial crimes have been discussed from global and Asian perspectives. The preventive measures for money laundering and other financial crimes have been discussed elaborately. So far, financial crime is a sophisticated and dynamic crime, and criminals continuously took innovative processes to use the financial system to launder money. The study will take a step in pointing out new techniques, effects and challenges of financial crime in Bangladesh.

Keywords: financial crime, illegal money transfer, online gambling, money laundering, authorized agencies

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Authors: Francis Padi, Solomon Nunoo, John Kojo Annan

Abstract:

The paper "Survey on Fiber Optic Deployment for Telecommunications Operators in Ghana: Coverage Gap, Recommendations and Research Directions" presents a comprehensive survey on the deployment of fiber optic networks for telecommunications operators in Ghana. It addresses the challenges encountered by operators using microwave transmission systems for backhauling traffic and emphasizes the advantages of deploying fiber optic networks. The study delves into the coverage gap, provides recommendations, and outlines research directions to enhance the telecommunications infrastructure in Ghana. Additionally, it evaluates next-generation optical access technologies and architectures tailored to operators' needs. The paper also investigates current technological solutions and regulatory, technical, and economical dimensions related to sharing mobile telecommunication networks in emerging countries. Overall, this paper offers valuable insights into fiber optic network deployment for telecommunications operators in Ghana and suggests strategies to meet the increasing demand for data and mobile applications.

Keywords: survey on fiber optic deployment, coverage gap, recommendations, research directions

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