Search results for: cash-generating assets

Authors: Abootaleb Shirvani, Svetlozar Rachev

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ESG stands for Environmental, Social, and Governance and is a non-financial factor that investors use to specify material risks and growth opportunities in their analysis process. ESG ratings provide a quantitative measure of socially responsible investment, and it is essential to incorporate ESG ratings when modeling the dynamics of asset returns. In this article, we propose a triple subordinated Lévy process for incorporating numeric ESG ratings into dynamic asset pricing theory to model the time series properties of the stock returns. The motivation for introducing three layers of subordinator is twofold. The first two layers of subordinator capture the skew and fat-tailed properties of the stock return distribution that cannot be explained well by the existing Lévy subordinated model. The third layer of the subordinator introduces ESG valuation and incorporates numeric ESG ratings into dynamic asset pricing theory and option pricing. We employ the triple subordinator Lévy model for developing the ESG-valued stock return model, derive the implied ESG score surfaces for Microsoft, Apple, and Amazon stock returns, and compare the shape of the ESG implied surface scores for these stocks.

Keywords: ESG scores, dynamic asset pricing theory, multiple subordinated modeling, Lévy processes, option pricing

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Authors: Djouhou Fowe Michelle Carole

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In the last few decades, there have been considerable efforts by the international community to develop strategies that reduce global poverty and hunger. Despite the modest success in reducing food insecurity, there are still around 795 million people worldwide who remain undernourished, the majority of whom are in sub-Saharan Africa. In many of these impoverished communities, agriculture still remains one of the most important sectors in driving economic growth and reducing poverty. For the growing population, with higher food demand and fixed agricultural land, sustainable intensification is proposed as an important strategy to respond to the challenges of low yields, environmental degradation, and adaptation to climate change. Adoption of agroforestry technologies is increasingly being promoted as a promising solution. This study was conducted to determine the perceptions of the Cameroonian population and farmers on agroforestry. The methodology used was based on a survey to determine their knowledge level of agroforestry, their representation of its advantages and disadvantages, and the reasons that might motivate them whether or not to adopt agroforestry. Participants were randomly selected and received a questionnaire. Data were subjected to a descriptive analysis using SPSS software. The obtained results showed that less than 50% of the general population had already heard about agroforestry at least once; they have basic knowledge about this concept and its advantages. Farmers had been particularly sensitive to tree's food production function and seemed to value their environmental assets. However, various constraints could affect the possible adoption of agroforestry techniques.

Keywords: agroforestry, quality and sustainable agriculture, perceptions, advantages, limits

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Authors: Faouzi Ameur, Atef Belhaj Ali

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Located in the South-west of Saudi Arabia, Jeddah is more than a harbor. It is a big city of the Red Sea and the second town of Saudi Arabia, after Riyadh the capital. Jeddah profits from several economic assets due especially to its transit position towards the high sacred places of Islam like Mecca and Medina. During summer, this metropolis is transformed into a political capital and a tourist resort for foreigners and Saudis alike. The city of Jeddah was affected by serious sudden floods; two great ones took place in 2009, and in 2011. The human and material tools were considerable, since these events caused the death to hundreds of people, damaged thousands of buildings built on basins slopes, which, however had the authorizations necessary. To cope with these natural disasters, several urban hydraulic measures were undertaken like building dams and canals to collect surface waters. These urban measures aimed at the protection of inhabitants and belongings against the risks of floods as well as the interception and the drainage of streams. Although these protection measures are important, expensive, and effective, they are no longer enough or effective to cope with the evolution of the natural disasters that the city of Jeddah is constantly exposed to. These protective hydraulic measures did not make it possible to reach risk zero situations. They transferred the damages towards other zones. This paper purports to study the protection network systems in Jeddah and to understand their various impacts during floods on the city and on its inhabitants.

Keywords: Jeddah, Saudi Arabia, urbanization, hydraulic protection

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Authors: Senait G. Worku, Ellen Mangnus

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Inclusive business models which integrates low-income people with companies value chain in a commercially viable way has gained momentum for the perceived potential to contribute to poverty alleviation and food security in developing countries. This article investigates the impact of Community Revenue Enhancement through Technology Extension (CREATE) project of Heineken brewery on smallholder farmers’ wellbeing in Arsi zone Oromia regional state of Ethiopia. CREATE is a Public-Private Partnership (PPP) between Ministry of Foreign Affairs of the Netherlands and Heineken N.V. which source malt barely from smallholder farmers in three zones of Oromia. The study assessed the impact of CREATE on malt barley productivity, food security and new asset purchase in Arsi zone by comparing households that participate in the project with non-participating households using propensity score matching method. The finding indicated that households that participated in the CREATE project had higher malt barley productivity and purchased more new assets than non-participating households. However, there is no significant difference on food security status of participating and non-participating households indicating that the project has a profound impact on asset accumulation than on food security improvement.

Keywords: inclusive business, malt barley, propensity score matching, wellbeing

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Authors: Hatthaphone Silimanotham, Michael Henry

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The effective maintenance of road bridge infrastructure is becoming a widely researched topic in the civil engineering field. Deterioration is one of the main issues in bridge performance, and it is necessary to understand how bridges deteriorate to optimally plan budget allocation for bridge maintenance. In Laos, many bridges are in a deteriorated state, which may affect the performance of the bridge. Due to bridge deterioration, the Ministry of Public Works and Transport is interested in the deterioration model to allocate the budget efficiently and support the bridge maintenance planning. A deterioration model can be used to predict the bridge condition in the future based on the observed behavior in the past. This paper analyzes the available inspection data of road bridges on the road classifications network to build deterioration prediction models for the main bridge type found at the provincial level (concrete slab, concrete girder, and steel truss) using probabilistic deterioration modeling by linear regression method. The analysis targets there has three bridge types in the 18 provinces of Laos and estimates the bridge deterioration rating for evaluating the bridge's remaining life. This research thus considers the relationship between the service period and the bridge condition to represent the probability of bridge condition in the future. The results of the study can be used for a variety of bridge management tasks, including maintenance planning, budgeting, and evaluating bridge assets.

Keywords: deterioration model, bridge condition, bridge management, probabilistic modeling

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Authors: Rajat Kapoor

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Indian Real Estate sector is the second largest employer after agriculture and is slated to grow at 30 percent over the next decade. Indian cities have shown tumultuous growth since last two decades. With the growing need of infrastructure, it has become inevitable for real estate sector to adopt more organized and transparent system of investment. SPVs such as REITs ensure transparency facilitating accessibility to invest in real estate for those who find it difficult to purchase real estate as an investment option with a realistic income expectation from their investment. RIETs or real estate investment trusts is an instrument of pooling funds similar to that of mutual funds. In a simpler term REIT is an Investment Vehicle in the form a trust which holds & manages large commercial rent¬ earning properties on behalf of investors and distributes most of its profit as dividends. REIT enables individual investors to invest their money in commercial real estate assets in a diversified portfolio and on the other hand provides fiscal liquidity to developers as easy exit option and channel funds for new projects. However, the success REIT is very much dependent on the taxation structure making such models attractive and adaptive enough for both developers and investors to opt for such investment option. This paper is intended to capture an overview of REITs with context to Indian real estate scenario.

Keywords: Indian real estate, real estate infrastructure trusts, urban finance, infrastructure investment trusts

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Authors: Godwin Chigozie Okpara

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This paper using standard GARCH, EGARCH, and TARCH models on day of the week return series (of 246 days) from the Nigerian Stock market estimated the model variants’ VaR. An asymmetric return distribution and fat-tail phenomenon in financial time series were considered by estimating the models with normal, student t and generalized error distributions. The analysis based on Akaike Information Criterion suggests that the EGARCH model with student t innovation distribution can furnish more accurate estimate of VaR. In the light of this, we apply the likelihood ratio tests of proportional failure rates to VaR derived from EGARCH model in order to determine the short and long positions VaR performances. The result shows that as alpha ranges from 0.05 to 0.005 for short positions, the failure rate significantly exceeds the prescribed quintiles while it however shows no significant difference between the failure rate and the prescribed quantiles for long positions. This suggests that investors and portfolio managers in the Nigeria stock market have long trading position or can buy assets with concern on when the asset prices will fall. Precisely, the VaR estimates for the long position range from -4.7% for 95 percent confidence level to -10.3% for 99.5 percent confidence level.

Keywords: downside risk, value-at-risk, failure rate, kupiec LR tests, GARCH models

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

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Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in decision process and –many times- the investment and business risks are high. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analyzed. Adopting the on system of system methodological approach, the decision making framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey and Bulgaria.

Keywords: decision making, system of system, cross-border, infrastructure project

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Authors: Levan Sabauri

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In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital

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Authors: Paul Toprac, Branden Heng, Harsheni Siddharthan, Allison Tseng, Sarah Abraham, Etienne Vouga

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The goal of this project was to evaluate and document the capabilities and limitations of AI tools for empowering small teams to create high budget, high profile (AAA) 3D games typically developed by large studios. Two teams of novice game developers attempted to create two different games using AI and Unreal Engine 5.3. First, the teams evaluated 60 AI art, design, sound, and programming tools by considering their capability, ease of use, cost, and license restrictions. Then, the teams used a shortlist of 13 AI tools for game development. During this process, the following tools were found to be the most productive: (1) ChatGPT 4.0 for both game and narrative concepting and documentation; (2) Dall-E 3 and OpenArt for concept art; (3) Beatoven for music drafting; (4) Epic PCG for level design; and (5) ChatGPT 4.0 and Github Copilot for generating simple code and to complement human-made tutorials as an additional learning resource. While current generative AI may appear impressive at first glance, the assets they produce fall short of AAA industry standards. Generative AI tools are helpful when brainstorming ideas such as concept art and basic storylines, but they still cannot replace human input or creativity at this time. Regarding programming, AI can only effectively generate simple code and act as an additional learning resource. Thus, generative AI tools are at best tools to enhance developer productivity rather than as a system to replace developers.

Keywords: AAA games, AI, automation tools, game development

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Authors: Olivier Mesly

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This research presents a conceptual framework termed “Consumer Financial Spinning” (CFS) to analyze consumer behavior in the financial/economic markets. This phenomenon occurs when consumers of high-stakes financial products accumulate unsustainable debt, leading them to detach from their initial financial hierarchy of needs, wealth-related goals, and preferences regarding their household portfolio of assets. The daring actions of these consumers, forming a dark financial triangle, are characterized by three behaviors: overconfidence, the use of rationed rationality, and deceitfulness. We show that we can incorporate CFS into the traditional CAPM and Markovitz’ portfolio optimization models to create a framework that explains such market phenomena as the global financial crisis, highlighting the antecedents and consequences of ill-conceived speculation. Because this is a conceptual paper, there is no methodology with respect to ground studies. However, we apply modeling principles derived from the data percolation methodology, which contains tenets explicating how to structure concepts. A simulation test of the proposed framework is conducted; it demonstrates the conditions under which the relationship between expected returns and risk may deviate from linearity. The analysis and conceptual findings are particularly relevant both theoretically and pragmatically as they shed light on the psychological conditions that drive intense speculation, which can lead to market turmoil. Armed with such understanding, regulators are better equipped to propose solutions before the economic problems become out of control.

Keywords: consumer financial spinning, rationality, deceitfulness, overconfidence, CAPM

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Authors: Shivani Yadav

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The paper will first elaborate on the concept of soft power as formulated by Joseph Nye, who argues that soft power is as important as hard power in international politics as it replaces coercion with non-coercive forms of co-optation and attraction. The central tenet of the paper is to extrapolate the continued relevance of soft power in international relations in the 21st century. It is argued that the relevance of soft power, in concurrence with hard power, is on the rise in the international system. This is found to be emanating out of two factors. First, the state-centric practice of international relations has expanded to allow other actors to participate in policymaking. This has led to the resources for power generation to become varied, largely move away from the control of governments, and to produce both hard and soft power attributes. Second, as the currency of coercive power seems to be devaluing in global politics, the role of intangible factors like soft power is getting more important in policymaking. The paper will then go on to elaborate on the critiques of the formulation of soft power from various perspectives, as well as the defenses to these critiques presented by soft power proponents. The paper will reflect on the continued relevance of soft power in international politics by giving the example of India, and how soft power has continued to serve its policy objectives over the years. It is observed that even as India is recognized as a rising superpower today, yet it has made a continuous effort in cultivating its soft power resources, which have proven to be its assets in furthering its foreign policy interests. In conclusion, the paper makes the point that soft power, in conjunction with hard power, will shape international politics in the coming times.

Keywords: foreign policy, India’s soft power, international politics, smart power, soft power

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Authors: Noor Hayati Binti Ismail, Mastor Bin Surat, Raja Nafida Binti Raja Shahminan, Shahrul Kamil Bin Yunus

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This study is to look the changes, development and evolution taking place in the Minangkabau house. Minangkabau traditional house is a part of the assets of Indonesia's culture and history. In addition to custom house, traditional Minangkabau building also serves as a place to live within the context of human habitats but has slowly through the changes. Luhak Nan Tigo of Luhak Tanah Datar, Agam And Luhak 50 Kota are holding the Minangkabau. ‘Induk’ house is the sole home, Main house or an older home for a gathering place doing activities together. The 'Genius Loci' refers to the unique aspects of the history, the value of a place, culturally and socially. Main house has the aspect of Minangkabau is a house occupied by custom rules that practice matrilineal kinship system and tendency to move out from the community. The study involves several villages and traditional houses at Padang, Bukit Tinggi, Kampar Kiri in Indonesia and Rembau, kuala Pilah, tampin in Negeri Sembilan has been selected to serve as a research field. These factors were the occurrence of evolution Minangkabau house from the ‘induk’, kampar and Negeri Sembilan. In this regard, the identity and uniqueness of the house increasingly difficult to sustain as well as lack of clarity can be understood by the people of the present generation.

Keywords: evolution, Genius loci, ‘Induk’ house, matrilineal kinship

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Authors: Hebberly Ahatlan

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The process of digitizing energy systems involves transforming traditional energy infrastructure into interconnected, data-driven systems that enhance efficiency, sustainability, and responsiveness. As smart grids become increasingly integral to the efficient distribution and management of electricity from both fossil and renewable energy sources, the energy industry faces strategic challenges associated with digitalization and interoperability — particularly in the context of modern energy business models, such as virtual power plants (VPPs). The critical challenge in modern smart grids is to seamlessly integrate diverse technologies and systems, including virtualization, grid computing and service-oriented architecture (SOA), across the entire energy ecosystem. Achieving this requires addressing issues like semantic interoperability, IT/OT convergence, and digital asset scalability, all while ensuring security and risk management. This paper proposes a four-layer digitalization framework to tackle these challenges, encompassing persistent data protection, trusted key management, secure messaging, and authentication of IoT resources. Data assets generated through this framework enable AI systems to derive insights for improving smart grid operations, security, and revenue generation. Furthermore, this paper also proposes a Trusted Energy Interoperability Alliance as a universal guiding standard in the development of this digitalization framework to support more dynamic and interoperable energy markets.

Keywords: digitalization, IT/OT convergence, semantic interoperability, VPP, energy blockchain

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Authors: Yasmin Umar Assegaf, Falikhatun, Salamah Wahyuni

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This study aims to provide empirical evidence about the influence of Islamic Corporate Social Responsibility Disclosures of the financial performance of Islamic banking with the characteristics of the company, as a control variable in Islamic banking in Indonesia. ICSR disclosures are an independent variable, while the Financial Performance is the dependent variable (proxied by Return on Assets (ROA), Return on Equity (ROE), Income Expense Ratio (IER), and Non-net Interest Margin (NIM). The control variables used are firm size, firm age and the type of audit. The population of the study was all Islamic Banks (BUS) operate in Indonesia. The research sample is Islamic Commercial Bank which has existed in Indonesia since 2002 and publishes financial statements between the years of 2007-2011. The sample of the study were include 31 Annual Report published. The results of this study concluded that there are significant influences between the ICSR Disclosures and financial performance. The disclosure is partially effect on ROA, IER and NIM, whereas there is no influence on ROE. Further result shows that all control variables (Firm Size, Age, and Type of Audit Companies) does not have any influence on ICSR Disclosures in Indonesia. This research gives a suggestion for further research to compare these ICSR disclosures in Indonesia with ICSR disclosures in other countries that have Islamic banking, by using other measure variables of financial performance, to get more comprehensive model and real picture.

Keywords: ROA, ROE, IER, NIM, company size, age of the company, audit type, Islamic banking

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Authors: Ritchie Ann Dionela, Jorilyn Tabuena

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This study measured the economic empowerment of women from small-scale fisheries and agriculture sector of Sebaste, Antique. There were a total of 199 respondents selected using stratified random sampling. The Five Domains of Empowerment (5DE) Index was used in measuring the economic empowerment of study participants. Through this composite index, it was determined how women scored in the five domains of empowerment, namely production, resources, income, leadership, and time. The result of the study shows that women fishers are more economically empowered than women farmers. The two sectors showed high disparity in their scores on input in productive decision; autonomy in production; ownership of assets; control over use of income; group member; speaking in public; workload; and leisure. Group member indicator contributed largely to the disempowered population in both sectors. Although income of women farmers is higher than that of women fishers, the latter are still economically empowered which suggests that economic empowerment is not dependent on income alone. The study recommends that fisheries and agriculture organization for women should be established so that their needs and concerns will be heard and addressed. It is further recommended that government projects focused on enhancing women empowerment should also give importance on other factors such as organization and leisure and not just income to totally promote of women empowerment. Further studies on measuring women’s empowerment using other methods should be pursued to provide more information on women’s well-being.

Keywords: agriculture, composite index, fisheries, women economic empowerment

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Authors: Abul Hassan

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Present socio-economic context and women wellbeing in Bangladesh imposes lots of constraints on women’s involvement in income generating activities. Different studies showed that the implementation of World Bank structural adjustment policies have had mixed impacts on women and their wellbeing. By involving poor people specially women in Islamic microfinance programmes in Bangladesh are used as a tool to combat poverty. Women are specifically targeted by Islamic microfinance under the rural development scheme of Islami Bank Bangladesh that provide interest free loan to the women groups. The programme has a multiplier effect since women invest largely in their households. The aim of this research is twofold: firstly, it wanted to confirm or refute a positive link between Islamic microfinance and the socio-economic wellbeing of women in Bangladesh and secondly, to explore the context in which Islamic microfinance programs function in Bangladesh and the way their performance can be improved. Based on structured questionnaires’ survey, this study addressed two research questions: (1) What can be expected from the offer of Islamic microfinance on the welfare of recipients and (2) Under what conditions would such an offer be more beneficial. The main result of this study shows that increase in women’s income and assets played a very important role in enhancing women’s economic independence and sense of self-confidence. An important policy recommendation is that it is necessary to redirect Islamic microfinance towards diversified developmental activities that will contribute to the improvement, in the long run, of the wellbeing of the recipients.

Keywords: business model, Islamic microfinance, women’s wellbeing

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Authors: Tan Swee Liang

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This paper studies the two-way relationship between fintech credit and banking efficiency using the Generalized panel Method of Moment (GMM) estimation in structural equation modeling (SEM). Banking system efficiency, defined as its ability to produce the existing level of outputs with minimal inputs, is measured using input-oriented data envelopment analysis (DEA), where the whole banking system of an economy is treated as a single DMU. Banks are considered an intermediary between depositors and borrowers, utilizing inputs (deposits and overhead costs) to provide outputs (increase credits to the private sector and its earnings). Analysis of the interrelationship between fintech credit and bank efficiency is conducted to determine the impact in different country groupings (ASEAN, Asia and OECD), in particular the banking system response to fintech credit platforms. Our preliminary results show that banks do respond to the greater pressure caused by fintech platforms to enhance their efficiency, but differently across the different groups. The author’s earlier research on ASEAN-5 high bank overhead costs (as a share of total assets) as the determinant of economic growth suggests that expenses may not have been channeled efficiently to income-generating activities. One practical implication of the findings is that policymakers should enable alternative financing, such as fintech credit, as a warning or encouragement for banks to improve their efficiency.

Keywords: fintech lending, banking efficiency, data envelopment analysis, structural equation modeling

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Authors: German Marino Rivera

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Linear plantations are a common practice in several countries as living fences (LF) delimiting agroecosystems. They are composed of multipurpose perennial woods that provide assets, protection, and supply services. However, not much is known in some traditional communities like the Andean region, including the species composition and the social and ecological benefits of the species used. In the High Andean Colombian region, LF seems to be very typical and diverse. This study aimed to analyze the traditional knowledge about LF systems, including the species composition and their uses in rural communities of Alto Casanare, Colombia. Field measurements, interviews, guided tours, and species sampling were carried out in order to describe traditional practices and the species used in the LF systems. The use values were estimated through the Coefficient of Importance of the Species (CIS). A total of 26 farms engage in LF practices, covering an area of 9283.3 m. In these systems, 30 species were identified, belonging to 23 families. Alnus acuminata was the specie with the highest CIS. The species presented multipurpose uses for both economic and ecological purposes. The transmission of knowledge (TEK) about the used species is very heterogeneous among the farmers. Many species used were not documented, with reciprocal gaps between the literature and traditional species uses. Exchanging this information would increase the species' versatility, the socioeconomic aspects of these communities, increases the agrobiodiversity and ecological services provided by LF. The description of the TEK on LF provides a better understanding of the relationship of these communities with the natural resources, pointing out creative approaches to achieve local environment conservation in these agroecosystems and promoting socioeconomic development.

Keywords: ethnobotany, living fences, traditional communities, agroecology

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Authors: Murat Zencirkiran, Nilufer Seyidoglu Akdeniz, Elvan Ender Altay, Zeynep Pirselimoglu Batman

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Monumental trees make an important contribution to the cultural interaction between societies. At the same time, monument trees, which are considered as symbols of some beliefs, are living beings that are transmitted from generation to generation. Mystical, folkloric and dimensional aspects of our cultural heritage and the link between the past and present, the memorial trees of the generations of the stories conveyed the story of the legends at the same time with the aesthetic features of the objects attract attention. There are many monumental trees that witness historical processes in Bursa, which is a land of very different cultures from the Prusias (BC 232-192). Within this scope, monumental trees located within the boundaries of Bursa province and their contribution to urban culture were evaluated. Monument plane trees recorded in Bursa and its districts were determined by the Ministry of Environment and Urbanization, the Governorship of Bursa, the Provincial Directorate of Environment and Urbanism, the Directorate of Protection of Natural Assets, and these trees were examined in situ. As a result of the inspections made, the monument trees living today are classified according to their species. Within the scope of the study, it was determined that there were 1001 monumental tree species in different species within the boundaries of Bursa province. 71.83% of the recorded species were Platanus species and 11.79% were Pinus species. On the other hand, the stories about the contribution of cultural landscapes to the examples of living or now-disappearing examples of Bursa history from these monumental trees have been compiled and presented in the study.

Keywords: Bursa, cultural landscape, landscape, monumental trees

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Authors: Gaurav Kumar Sinha

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The oil and gas industry, characterized by its complex and global supply chains, faces significant challenges in ensuring security, transparency, and efficiency. Blockchain technology, with its decentralized and immutable ledger, offers a transformative solution to these issues. This paper explores the application of blockchain technology in the oil and gas supply chain, highlighting its potential to enhance data security, improve transparency, and streamline operations. By leveraging smart contracts, blockchain can automate and secure transactions, reducing the risk of fraud and errors. Additionally, the integration of blockchain with IoT devices enables real-time tracking and monitoring of assets, ensuring data accuracy and integrity throughout the supply chain. Case studies and pilot projects within the industry demonstrate the practical benefits and challenges of implementing blockchain solutions. The findings suggest that blockchain technology can significantly improve trust and collaboration among supply chain participants, ultimately leading to more efficient and resilient operations. This study provides valuable insights for industry stakeholders considering the adoption of blockchain technology to address their supply chain management challenges.

Keywords: blockchain technology, oil and gas supply chain, data security, transparency, smart contracts, IoT integration, real-time tracking, asset monitoring, fraud reduction, supply chain efficiency, data integrity, case studies, industry implementation, trust, collaboration.

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Kwaku Damoah

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This paper presents a methodology and software application (App) designed to empower users in accessing, retrieving, and comparatively exploring data within the hierarchical network framework of the Government Finance Statistics (GFS) system. It explores the ease of navigating the GFS system and identifies the gaps filled by the new methodology and App. The GFS, embodies a complex Hierarchical Network Classification (HNC) structure, encapsulating institutional units, revenues, expenses, assets, liabilities, and economic activities. Navigating this structure demands specialized knowledge, experience, and skill, posing a significant challenge for effective analytics and fiscal policy decision-making. Many professionals encounter difficulties deciphering these classifications, hindering confident utilization of the system. This accessibility barrier obstructs a vast number of professionals, students, policymakers, and the public from leveraging the abundant data and information within the GFS. Leveraging R programming language, Data Science Analytics and Machine Learning, an efficient methodology enabling users to access, navigate, and conduct exploratory comparisons was developed. The machine learning Fiscal Analytics App (FLOWZZ) democratizes access to advanced analytics through its user-friendly interface, breaking down expertise barriers.

Keywords: data science, data wrangling, drilldown analytics, government finance statistics, hierarchical network classification, machine learning, web application.

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Authors: Arash Sepehri bonab

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One of the regions of critical development in medical devices has been the part of the software - as an indispensable component of a therapeutic device, as a standalone device, and more as of late, as applications on portable gadgets. The chance related to a breakdown of the standalone computer program utilized inside healthcare is in itself not a model for its capability or not as a medical device. It is, subsequently, fundamental to clarify a few criteria for the capability of a stand-alone computer program as a medical device. The number of computer program items and therapeutic apps is persistently expanding and so as well is used in wellbeing education (e. g., in clinics and doctors' surgeries) for determination and treatment. Within the last decade, the use of information innovation in healthcare has taken a developing part. In reality, the appropriation of an expanding number of computer devices has driven several benefits related to the method of quiet care and permitted simpler get to social and health care assets. At the same time, this drift gave rise to modern challenges related to the usage of these modern innovations. The program utilized in healthcare can be classified as therapeutic gadgets depending on the way they are utilized and on their useful characteristics. In the event that they are classified as therapeutic gadgets, they must fulfill particular directions. The point of this work is to show a computer program improvement system that can permit the generation of secure and tall, quality restorative gadget computer programs and to highlight the correspondence between each program advancement stage and the fitting standard and/or regulation.

Keywords: medical devices, regulation, software, development, healthcare

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Authors: Chung-Hung Tsai, Ya-Ping Li

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Tourism industry is highly depended on the natural environment and climate. Compared to other industries, it is more susceptible to environment and climate. Taiwan belongs to a sea island country and located in the subtropical monsoon zone. The events of climate variability, frequency of typhoons and rainfalls raged are caused regularly serious disaster. In traditional disaster assessment, it usually focuses on the disaster damage and risk assessment, which is short of the features from different industries to understand the impact of the restoring force in post-disaster resilience and the main factors that constitute resilience. The object of this study is based on disaster recovery experience of tourism area and to understand the main factors affecting the tourist area of disaster resilience. The combinations of literature review and interviews with experts are prepared an early indicator system of the disaster resilience. Then, it is screened through a Fuzzy Delphi Method and Analytic Network Process for weight analysis. Finally, this study will establish the tourism disaster resilience evaluation index system considering the Taiwan's tourism industry characteristics. We hope that be able to enhance disaster resilience after tourist areas and increases the sustainability of industrial development. It is expected to provide government departments the tourism industry as the future owner of the assets in extreme climates responses.

Keywords: resilience, Fuzzy Delphi Method, Analytic Network Process, industrial development

Procedia PDF Downloads 404

Authors: Nadezhda Kvatashidze

Abstract:

The International Accounting Standards Board updated the conceptual framework for financial reporting. The main reason behind it is to resolve the tasks of the accounting, which are caused by the market development and business-transactions of a new economic content. Also, the investors call for higher transparency of information and responsibility for the results in order to make a more accurate risk assessment and forecast. All these make it necessary to further develop the conceptual framework for financial reporting so that the users get useful information. The market development and certain shortcomings of the conceptual framework revealed in practice require its reconsideration and finding new solutions. Some issues and concepts, such as disclosure and supply of information, its qualitative characteristics, assessment, and measurement uncertainty had to be supplemented and perfected. The criteria of recognition of certain elements (assets and liabilities) of reporting had to be updated, too and all this is set out in the updated edition of the conceptual framework for financial reporting, a comprehensive collection of concepts underlying preparation of the financial statement. The main objective of conceptual framework revision is to improve financial reporting and development of clear concepts package. This will support International Accounting Standards Board (IASB) to set common “Approach & Reflection” for similar transactions on the basis of mutually accepted concepts. As a result, companies will be able to develop coherent accounting policies for those transactions or events that are occurred from particular deals to which no standard is used or when standard allows choice of accounting policy.

Keywords: conceptual framework, measurement basis, measurement uncertainty, neutrality, prudence, stewardship

Procedia PDF Downloads 126

Authors: E. Elhan Özus, Melek Tufan, Filiz Erden

Abstract:

Cloth is a special wearing style of a society for a period or of a profession. Clothes reflect the social status difference than the fashion. Within this context, society forms a wearing style in the direction of its customs, usage, traditions and social structure. One of the properties of a society indicating the social levels and cultural differences differing the societies from each other is clothing style. Clothing is one of the most important needs in life depending on the individual and social attributes. The clothing which first emerged as protection means is a social fact complementing the physical and psychological existence of human being, changing forms depending on technological developments and phases, and continuously changing under the affect of fashion today. Clothing is an aesthetic value fed by the feelings of individuals. So, clothing has an indispensable place in the structure and communication of cultural and social identity within this direction. The traditional Turkish clothing has a rich ethnography. It is also possible to see the winds coming from our predecessors in these cultural assets reflecting the feelings and thoughts of Anatolian women. When the long history of our nation and the cultures interacted by our nation are taken into account, it is seen that the magnificence of our nation has also reflected into the clothing culture.For this reason, we tried to keep the traditional women’s clothing of Tekirdağ region alive by investigating and documenting them. In this study, it is purposed to contribute a little bit to protect our culture and form a source for the future generations, to carry our national cultural values from the past up to now and to the future and deliver to the young people.

Keywords: Turkish, traditional, culture, clothing

Procedia PDF Downloads 341

Authors: Mateusz Paszko, Ksenia Siadkowska

Abstract:

Due to the low-altitude and relatively low-speed flight, helicopters are easy targets for actual combat assets e.g. infrared-guided missiles. Current techniques aim to increase the combat effectiveness of the military helicopters. Protection of the helicopter in flight from early detection, tracking and finally destruction can be realized in many ways. One of them is cooling hot exhaust gasses, emitting from the engines to the atmosphere in special heat exchangers. Nowadays, this process is realized in ejective coolers, where strong heat and momentum exchange between hot exhaust gases and cold air ejected from atmosphere takes place. Flow effects of air, exhaust gases; mixture of those two and the heat transfer between cold air and hot exhaust gases are given by differential equations of: Mass transportation–flow continuity, ejection of cold air through expanding exhaust gasses, conservation of momentum, energy and physical relationship equations. Calculation of those processes in ejective cooler by means of classic mathematical analysis is extremely hard or even impossible. Because of this, it is necessary to apply the numeric approach with modern, numeric computer programs. The paper discussed the general usability of the Computational Fluid Dynamics (CFD) in a process of projecting the ejective exhaust gases cooler cooperating with helicopter turbine engine. In this work, the CFD calculations have been performed for ejective-based cooler cooperating with the PA W3 helicopter’s engines.

Keywords: aviation, CFD analysis, ejective-cooler, helicopter techniques

Procedia PDF Downloads 332

Authors: Mateusz Paszko, Mirosław Wendeker, Adam Majczak

Abstract:

Every material body that temperature is higher than 0K (absolute zero) emits infrared radiation to the surroundings. Infrared radiation is highly meaningful in military aviation, especially in military applications of helicopters. Helicopters, in comparison to other aircraft, have much lower flight speeds and maneuverability, which makes them easy targets for actual combat assets like infrared-guided missiles. When designing new helicopter types, especially for combat applications, it is essential to pay enormous attention to infrared emissions of the solid parts composing the helicopter’s structure, as well as to exhaust gases egressing from the engine’s exhaust system. Due to their high temperature, exhaust gases, egressed to the surroundings are a major factor in infrared radiation emission and, in consequence, detectability of a helicopter performing air combat operations. Protection of the helicopter in flight from early detection, tracking and finally destruction can be realized in many ways. This paper presents the analysis of possibilities to decrease the infrared radiation level that is emitted to the environment by helicopter in flight, by cooling exhaust in special ejection-based coolers. The paper also presents the concept 3D model and results of numeric analysis of ejective-based cooler cooperation with PA-10W turbine engine. Numeric analysis presented promising results in decreasing the infrared emission level by PA W-3 helicopter in flight.

Keywords: exhaust cooler, helicopter propulsion, infrared radiation, stealth

Procedia PDF Downloads 347

Authors: Vinayak Bassi, Rajpreet Singh

Abstract:

Over the years, with the emergence of sophisticated computers and algorithms, finance has been quantified using computational prowess. Asset valuation has been one of the key components of quantitative finance. In fact, it has become one of the embryonic steps in determining risk related to a portfolio, the main goal of quantitative finance. This study comprises a drawing comparison between valuation output generated by two stochastic dynamic models, namely Black-Scholes and Dupire’s bi-dimensionality model. Both of these models are formulated for computing the valuation function for a portfolio of European options using Monte Carlo simulation methods. Although Monte Carlo algorithms have a slower convergence rate than calculus-based simulation techniques (like FDM), they work quite effectively over high-dimensional dynamic models. A fidelity gap is analyzed between the static (historical) and stochastic inputs for a sample portfolio of underlying assets. In order to enhance the performance efficiency of the model, the study emphasized the use of variable reduction methods and customizing random number generators to implement parallelization. An attempt has been made to further implement the Dupire’s model on a GPU to achieve higher computational performance. Furthermore, ideas have been discussed around the performance enhancement and bottleneck identification related to the implementation of options-pricing models on GPUs.

Keywords: monte carlo, stochastic models, computational finance, parallel programming, scientific computing

Procedia PDF Downloads 161