Search results for: active labor market policies

Authors: Gerald Abdesaken, Thomas O. Miller

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This paper analyzes the performance of gold as a safe-haven investment. Assuming high market volatility as an impetus to seek a safe haven in gold, the return of gold relative to the stock market, as measured by the S&P 500, is tracked. Using the Chicago Board Options Exchange (CBOE) volatility index (VIX) as a measure of stock market volatility, various criteria are established for when an investor would seek a safe haven to avoid high levels of risk. The results show that in a vast majority of cases, the S&P 500 outperforms gold during these periods of high volatility and suggests investors who seek safe haven are underperforming the market.

Keywords: gold, portfolio management, safe haven, VIX

Procedia PDF Downloads 137

Authors: Aikaterini Tsalampouni

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The European Union has long been the most developed model of economic and political integration that has brought a common market, a common currency and a standardization of national policies in certain areas in consistent with EU values and principles. To this direction, there is a parallel process of social integration that effect public policy decisions of member states. Even though social policy, i.e. social protection and moreover healthcare policy, still remains in state's responsibility to develop, EU applies different mechanisms in order to influence health policy systems, since from a more federalist point of view, EU ought to expand its regulatory and legislative roles in as many policy areas as possible. Recently, the pandemic has become a turning point for health care provision and at the same time has also highlighted the need to strengthen the EU’s role in coordinating health care. This paper analyses the EU health policy in general, as well as the response to COVID-19 pandemic with an attempt to identify indications of interaction between EU policies and the promotion of sustainable and resilient health systems. More analytically, the paper investigates the EU binding legal instruments, non-binding legal instruments, monitoring and assessment instruments and instruments for co-financing concerning health care provision in member states and records the evolution of health policies before and during the COVID-19 pandemic. The paper concludes by articulating some remarks regarding the improvement of health policy in EU. Since the ability to deal with a pandemic depends on continuous and increased investment in health systems, the involvement of the EU can lead to a policy convergence, necessary for the resilience of the systems, maintaining at the same time, a strong health policy framework in Europe.

Keywords: EU health policy, EU response to COVID-19, European Health Union, health systems in Europe

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Authors: Andrei Nastas, Sergiu Cernomopret

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This research addresses trafficking in human beings, in terms of the active subject and the victim of this crime, through the prism of national and international regulations in material and procedural criminal matters. For the correlative approach of both mentioned aspects, the active subject and the victim of trafficking in human beings, the research addresses both its constituent elements and the way to prevent and combat this phenomenon through criminal proceedings. As follows, trafficking in human beings, from a material criminal point of view, involves two subjects of this crime (active subject - offender and passive subject - victim), while their procedural status differs depending on the case (victim or injured party). The result of the research highlights some clarifications, which find a theoretical-practical basis in the legal provisions, the specialized doctrine, and the judicial practice.

Keywords: victim, active subject, abuse, injured party, crime

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Authors: Taylan Kabbani, Ekrem Duman

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The design of adaptive systems that take advantage of financial markets while reducing the risk can bring more stagnant wealth into the global market. However, most efforts made to generate successful deals in trading financial assets rely on Supervised Learning (SL), which suffered from various limitations. Deep Reinforcement Learning (DRL) offers to solve these drawbacks of SL approaches by combining the financial assets price "prediction" step and the "allocation" step of the portfolio in one unified process to produce fully autonomous systems capable of interacting with its environment to make optimal decisions through trial and error. In this paper, a continuous action space approach is adopted to give the trading agent the ability to gradually adjust the portfolio's positions with each time step (dynamically re-allocate investments), resulting in better agent-environment interaction and faster convergence of the learning process. In addition, the approach supports the managing of a portfolio with several assets instead of a single one. This work represents a novel DRL model to generate profitable trades in the stock market, effectively overcoming the limitations of supervised learning approaches. We formulate the trading problem, or what is referred to as The Agent Environment as Partially observed Markov Decision Process (POMDP) model, considering the constraints imposed by the stock market, such as liquidity and transaction costs. More specifically, we design an environment that simulates the real-world trading process by augmenting the state representation with ten different technical indicators and sentiment analysis of news articles for each stock. We then solve the formulated POMDP problem using the Twin Delayed Deep Deterministic Policy Gradient (TD3) algorithm, which can learn policies in high-dimensional and continuous action spaces like those typically found in the stock market environment. From the point of view of stock market forecasting and the intelligent decision-making mechanism, this paper demonstrates the superiority of deep reinforcement learning in financial markets over other types of machine learning such as supervised learning and proves its credibility and advantages of strategic decision-making.

Keywords: the stock market, deep reinforcement learning, MDP, twin delayed deep deterministic policy gradient, sentiment analysis, technical indicators, autonomous agent

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Authors: Istijabatul Aliyah, Bambang Setioko, Rara Sugiarti

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Surakarta is one of the cities which are formed with the concept of Javanese cosmology. As a traditional town of Java, Surakarta is known as ‘the paradise’ of traditional markets. Since its establishment, Surakarta is formed with Catur Gatra Tunggal or Four Single-Slot concept (palace, square, mosques, and markets). Current development in Surakarta downtown today indicates that traditional markets have improved themselves in both physical and non-physical aspects. The efforts start from the market façade revitalization, restoration and the overall development of market; up to social activities, competition between traders or large celebrations in the neighbourhood market. This research was conducted in Surakarta, which is aimed at: identifying the role of traditional market revitalization efforts in the development of a city. This study employs several methods of analysis, namely: 1) Spatial analysis for mapping the distribution of traditional markets in the city constellation, 2) Category-Based Analysis (CBA) to classify the revitalization of traditional markets that has an influence in the development of the city, and 3) Interactive Method of Analysis. The results of this research indicate that the presence of a constellation of traditional markets in Surakarta is dominated by the presence of Gede Market, not only as the oldest traditional market, but also as a center of economic and socio-cultural activities of the community. The role of traditional market revitalization in the development of a town is as an Urban Catalyst towards a MICE city in the sense that the revitalization effort, even done in a relatively short time and not yet covering the overall objects, is able to establish brand image of Surakarta as a city of culture which is friendly and ready to be MICE tourism city.

Keywords: traditional market revitalization, urban catalyst, MICE tourism, Surakarta

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Authors: Rataya Yanaphan, Saksiri Kuppatarat, Sarita Pinmanee

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Hemp (Cannabis sativa L. ssp. Sativa) cultivation for fiber is limited by extremely high labor cost, especially for the removal of the leaves before harvest. This study evaluated chemical defoliants as a means to remove the leaves of hemp before harvest, in an effort to reduce labor expenditures in the production on hemp fiber. This study was conducted by spraying the leaves of hemp with five different treatments: saline solution, Urea (CH4N2O), Ethephon, copper Sulphate (CuSO4) and water (control) before harvesting. The largest percentage of leaf loss 6 days after spraying was with saline solution (43%), followed by Ethephon (32%). However, saline solution also caused drying of the stems but Ethephon did not. Thus, Ethephon was evaluated in the second experiment by spraying with Ethephon concentrations of 0, 10, 15 and 20 ml per 1 liter of water at 7 days before harvest. Spraying with 0.5% Ethephon resulted in 13.6% leaf fall. Spraying with 1.5% and 2% Ethephon resulted in 82.2% and 82.3 % leaf fall, respectively. In addition, using Ethephon to defoliate hemp had no detrimental effect the yield. Therefore, Ethephon concentration at 15 ml per 1 liter of water will be recommended for use in removing hemp leaves by spraying at 7 days before harvest to lower labor cost.

Keywords: defoliation technology, ethephon, hemp cultivation, saline solution

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Authors: Kateriina Rannula, Elle Sõrmus, Siret Piirsalu

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Mixed generation classroom is a phenomenon that current higher education establishments are faced with daily trying to meet the needs of modern labor market with its emphasis on lifelong learning and retraining. Representatives of mainly X and Y generations in one classroom acquiring higher education is a challenge to lecturers considering all the characteristics that differ one generation from another. The importance of outlining different strategies and considering the needs of the students lies in the necessity for everyone to acquire the maximum of the provided knowledge as well as to understand each other to study together in one classroom and successfully cooperate in future workplaces. In addition to different generations, there are also learners with different native languages which have an impact on reading and understanding texts in third languages, including possible translation. Current research aims to investigate, describe and compare reading strategies among the representatives of generation X and Y. Hypotheses were formulated - representatives of generation X and Y use different reading strategies which is also different among first and third year students of the before mentioned generations. Current study is an empirical, qualitative study. To achieve the aim of the research, relevant literature was analyzed and a semi-structured questionnaire conducted among the first and third year students of Tallinn Health Care College. Questionnaire consisted of 25 statements on the text reading strategies, 3 multiple choice questions on preferences considering the design and medium of the text, and three open questions on the translation process when working with a text in student’s third language. The results of the questionnaire were categorized, analyzed and compared. Both, generation X and Y described their reading strategies to be 'scanning' and 'surfing'. Compared to generation X, first year generation Y learners valued interactivity and nonlinear texts. Students frequently used strategies of skimming, scanning, translating and highlighting together with relevant-thinking and assistance-seeking. Meanwhile, the third-year generation Y students no longer frequently used translating, resourcing and highlighting while Generation X learners still incorporated these strategies. Knowing about different needs of the generations currently inside the classrooms and on the labor market enables us with tools to provide sustainable education and grants the society a work force that is more flexible and able to move between professions. Future research should be conducted in order to investigate the amount of learning and strategy- adoption between generations. As for reading, main suggestions arising from the research are as follows: make a variety of materials available to students; allow them to select what they want to read and try to make those materials visually attractive, relevant, and appropriately challenging for learners considering the differences of generations.

Keywords: generation X, generation Y, learning strategies, reading strategies

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Authors: Syed Toqueer Akhter, Hussain Hamid

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Over the last few decades an upward trend has been observed in the case of labor migration from Pakistan. The emigrants are not just economically motivated and in search of a safe living environment towards more developed countries in Europe, North America and Middle East. The opportunity cost of migration comes in the form of brain drain that is the loss of qualified and skilled human capital. Throughout the history of Pakistan, situations of political instability have emerged ranging from violation of political rights, political disappearances to political assassinations. Providing security to the citizens is a major issue faced in Pakistan due to increase in crime and terrorist activities. The aim of the study is to test the impact of political instability, appearing in the form of political terror, violation of political rights and civil liberty on skilled migration of labor. Three proxies are used to measure the political instability; political terror scale (based on a scale of 1-5, the political terror and violence that a country encounters in a particular year), political rights (a rating of 1-7, that describes political rights as the ability for the people to participate without restraint in political process) and civil liberty (a rating of 1-7, civil liberty is defined as the freedom of expression and rights without government intervention). Using time series data from 1980-2011, the distributed lag models were used for estimation because migration is not a onetime process, previous events and migration can lead to more migration. Our research clearly shows that political instability appearing in the form of political terror, political rights and civil liberty all appeared significant in explaining the extent of skilled migration of Pakistan.

Keywords: skilled labor migration, political terror, political rights, civil liberty, distributed lag model

Procedia PDF Downloads 1003

Authors: Mohammad Hossein Ranjbar, Mahdi Bagheri, B. Shivaraj

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This study attempts to investigate the relationship between stock market of Iran and GCC countries stock exchanges. Eight markets were included: the stock market of Iran, Kuwait, Bahrain, Qatar, Saudi Arabia, Dubai, Abu Dhabi and Oman. Daily country market indices were collected from January 2005 to December 2010. The potential time-varying behaviors of long-run stock market relationship among selected markets are tested applying correlation test, Augmented Dick Fuller test (ADF), Bilateral and Multilateral Cointegration (Johansen), and the Granger Causality test. The findings suggest that stock market of Iran is negatively correlated with most of the selected markets in the whole duration. But contemporaneous correlations among the eight selected markets are increased positively in period of financial crises. Bilateral Cointegration between selected markets suggests that there is no integration between Tehran stock exchange and other selected markets. Among other markets, except the stock market of Dubai and Abu Dhabi as a one pair, are not cointegrated in whole, but in duration of financial crises integration between selected markets are increased. Finally, investigation of the casual relationship among eight financial markets suggests there are unidirectional and bidirectional causal relationship among some of stock market indices.

Keywords: financial crises, Middle East, stock market integration, Granger Causality test, ARDL test

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Authors: Roman J. Jedrzejczyk, Damian K. Chlebda, Anna Dziedzicka, Rafal Wazny, Agnieszka Domka, Maciej Sitarz, Przemyslaw J. Jodlowski

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The aim of this study was to obtain antimicrobial material based on thin zirconium dioxide coatings on structured reactors doped with metal nanoparticles using the sonochemical sol-gel method. As a result, dense, uniform zirconium dioxide films were obtained on the kanthal sheets which can be used as support materials in antimicrobial converters with sophisticated shapes. The material was characterised by physicochemical methods, such as AFM, SEM, EDX, XRF, XRD, XPS and in situ Raman and DRIFT spectroscopy. In terms of antimicrobial activity, the material was tested by ATP/AMP method using model microbes isolated from the real systems. The results show that the material can be potentially used in the market as a good candidate for active package and as active bulkheads of climatic systems. The mechanical tests showed that the developed method is an efficient way to obtain durable converters with high antimicrobial activity against fungi and bacteria.

Keywords: antimicrobial properties, kanthal steel, nanocomposite, zirconium oxide

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Authors: Düzgün Akmaz, Hüseyin Erişti

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In the last few years, harmonics have been occurred with the increasing use of nonlinear loads, and these harmonics have been an ever increasing problem for the line systems. This situation importantly affects the quality of power and gives large losses to the network. An efficient way to solve these problems is providing harmonic compensation through parallel active power filters. Many methods can be used in the control systems of the parallel active power filters which provide the compensation. These methods efficiently affect the performance of the active power filters. For this reason, the chosen control method is significant. In this study, Fourier analysis (FA) control method and synchronous reference frame (SRF) control method are discussed. These control methods are designed for both eliminate harmonics and perform reactive power compensation in MATLAB/Simulink pack program and are tested. The results have been compared for each two methods.

Keywords: parallel active power filters, harmonic compensation, power quality, harmonics

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Authors: Belhouchet Selma, Ben Amar Anis

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We examine the impact of COVID-19 transmission, containment measures, and vaccination growth on daily stock market returns for the G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) from January 22, 2020, to August 31, 2021, more than a year and a half after COVID-19. For this objective, we use panel pooled ordinary least squares regressions. Our findings indicate that the spread of the pandemic has a negative impact on the daily performance of the world's seven main stock markets. Government measures to improve stock market returns are no longer successful. Furthermore, our findings demonstrate that immunization efforts in G7 nations do not increase stock market performance in these countries. A variety of robustness tests back up our conclusions. Our findings have far-reaching implications for investors, governments, and regulators not only in the G7 countries but also in all developed countries and all countries globally.

Keywords: COVID-19, G7 stock market, containment measures, vaccination

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Authors: Li-hsing Shih, Wei-Jen Hsu

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Recently, the sale of electrical vehicles (EVs) has increased dramatically due to maturing technology development and decreasing cost. Governments of many countries have made regulations and policies in favor of EVs due to their long-term commitment to net zero carbon emissions. However, due to uncertain factors such as the future price of EVs, forecasting the future market share of EVs is a challenging subject for both the auto industry and local government. This study tries to forecast the market share of EVs using conjoint models and Monte Carlo simulation. The research is conducted in three phases. (1) A conjoint model is established to represent the customer preference structure on purchasing vehicles while five product attributes of both EV and internal combustion engine vehicles (ICEV) are selected. A questionnaire survey is conducted to collect responses from Taiwanese consumers and estimate the part-worth utility functions of all respondents. The resulting part-worth utility functions can be used to estimate the market share, assuming each respondent will purchase the product with the highest total utility. For example, attribute values of an ICEV and a competing EV are given respectively, two total utilities of the two vehicles of a respondent are calculated and then knowing his/her choice. Once the choices of all respondents are known, an estimate of market share can be obtained. (2) Among the attributes, future price is the key attribute that dominates consumers’ choice. This study adopts the assumption of a learning curve to predict the future price of EVs. Based on the learning curve method and past price data of EVs, a regression model is established and the probability distribution function of the price of EVs in 2030 is obtained. (3) Since the future price is a random variable from the results of phase 2, a Monte Carlo simulation is then conducted to simulate the choices of all respondents by using their part-worth utility functions. For instance, using one thousand generated future prices of an EV together with other forecasted attribute values of the EV and an ICEV, one thousand market shares can be obtained with a Monte Carlo simulation. The resulting probability distribution of the market share of EVs provides more information than a fixed number forecast, reflecting the uncertain nature of the future development of EVs. The research results can help the auto industry and local government make more appropriate decisions and future action plans.

Keywords: conjoint model, electrical vehicle, learning curve, Monte Carlo simulation

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Authors: Craig M. Allen

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Twenty two African entrepreneurs with Small and Medium Enterprises (SMEs) in a single social network centered around a non-Muslim population in a smaller African country, selected an Islamic financing structure, a form of Murabaha, based solely on market rationale. These entrepreneurs had all won procurement contracts from major purchasers of goods within their country and faced difficulty arranging traditional bank financing to support their supply-chain needs. The Murabaha-based structure satisfied their market-driven demand and provided an attractive alternative to the traditional bank-offered lending products. The Murabaha-styled trade-financing structure was not promoted with any religious implications, but solely as a market solution to the existing problems associated with bank-related financing. This indicates the strong market forces that draw SMEs to financing structures that are traditionally considered within the framework of Islamic finance.

Keywords: Africa, entrepreneurs, Islamic finance, market acceptance, Murabaha, SMEs

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Authors: Farid Habibi Tanha, Hawati Janor, Mojtaba Jahanbazi

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The purpose of this study is to examine the effect of asymmetric information on the composition of capital inflows. This study uses the stock market microstructure to capture the asymmetric information. Such an approach allows one to capture the level and extent of the asymmetric information from a firm’s perspective. This study focuses on the two-dimensional measure of the market microstructure in capturing asymmetric information. The composition of capital inflows is measured by running six models simultaneously. By employing the panel data technique, the main finding of this research shows an increase in the asymmetric information of the stock market, in any of the two dimensions of width and depth. This leads to the reduction of foreign investments in both forms of foreign portfolio investment (FPI) and foreign direct investment (FDI), while the reduction in FPI is higher than that of the FDI. The significant effect of asymmetric information on capital inflows implicitly suggests for policymakers to control the changes of foreign capital inflows through transparency in the level of the market.

Keywords: capital flows composition, asymmetric information, stock market microstructure, foreign portfolio investment, foreign direct investment

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Authors: Soumaya Ben Kheilifa, Dorra Mezzez Hmaied

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We propose two approaches to examine whether European hedge fund managers can time market liquidity. Using a sample of 1616 European hedge funds, we find evidence of liquidity timing. More importantly, this ability adds economic value to investors. Thus, it represents valuable managerial skill and a major source of European hedge funds’ performance. Also we show that the majority of these funds demonstrate liquidity timing ability especially during liquidity crisis. Finally, it emerged that our main evidence of liquidity timing remains significant after controlling for market timing and volatility timing.

Keywords: european hedge funds, liquidity timing ability, market liquidity, crisis

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Authors: R. Chakib, A. Essadki, M. Cherkaoui

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This paper proposes the study of a robust control of the doubly fed induction generator (DFIG) used in a wind energy production. The proposed control is based on the linear active disturbance rejection control (ADRC) and it is applied to the control currents rotor of the DFIG, the DC bus voltage and active and reactive power exchanged between the DFIG and the network. The system under study and the proposed control are simulated using MATLAB/SIMULINK.

Keywords: doubly fed induction generator (DFIG), active disturbance rejection control (ADRC), vector control, MPPT, extended state observer, back-to-back converter, wind turbine

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Authors: Jonathan J. Burson

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With the rise of virtually costless, mobile-based trading platforms, stock market trading activity has increased significantly over the past decade, particularly for the millennial generation. This increased stock market attention, combined with the recent market turmoil due to the economic upset caused by COVID-19, make the topics of market-timing and forecasting particularly relevant. While the overall stock market saw an unprecedented, historically-long bull market from March 2009 to February 2020, the end of that bull market reignited a search by investors for a way to reduce risk and increase return. Similar searches for outperformance occurred in the early, and late 2000’s as the Dotcom bubble burst and the Great Recession led to years of negative returns for mean-variance, index investors. Extensive research has been conducted on fundamental analysis, technical analysis, macroeconomic indicators, microeconomic indicators, and other techniques—all using different methodologies and investment periods—in pursuit of higher returns with lower risk. The enormous variety of timeframes, data, and methodologies used by the diverse forecasting methods makes it difficult to compare the outcome of each method directly to other methods. This paper establishes a process to evaluate the market-timing methods in an apples-to-apples manner based on simplicity, performance, and feasibility. Preliminary findings show that certain technical analysis models provide a higher return with lower risk when compared to the buy-and-hold method and to other market-timing strategies. Furthermore, technical analysis models tend to be easier for individual investors both in terms of acquiring the data and in analyzing it, making technical analysis-based market-timing methods the preferred choice for retail investors.

Keywords: buy-and-hold, forecast, market-timing, probit, technical analysis

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Authors: Serkan Yağlı, Selçuk Dal

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Cyber-attacks pose a serious threat to all states. Therefore, states constantly seek for various methods to encounter those threats. In addition, recent changes in the nature of cyber-attacks and their more complicated methods have created a new concept: active cyber defence (ACD). This article tries to answer firstly why ACD is important to NATO and find out the viewpoint of NATO towards ACD. Secondly, infrastructure protection is essential to cyber defence. Critical infrastructure protection with ACD means is even more important. It is assumed that by implementing active cyber defence, NATO may not only be able to repel the attacks but also be deterrent. Hence, the use of ACD has a direct positive effect in all international organizations’ future including NATO.

Keywords: active cyber defence, advanced persistent treat, critical infrastructure, NATO

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Authors: R. B. Mishra, Sudhakar Tripathi

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In this paper, the cable model of dendrites have been considered. The dendrites are cylindrical cables of various segments having variable length and reducing radius from start point at synapse and end points. For a particular event signal being received by a neuron in response only some dendrite are active at a particular instance. Initial current signals with different current flows in dendrite are assumed. Due to overlapping and coupling of active dendrite, they induce currents in the dendrite segments of each other at a particular instance. But how these currents are induced in the various segments of active dendrites due to coupling between these dendrites, It is not presented in the literature. Here the paper presents a model for induced currents in active dendrite segments due to mutual coupling at the starting instance of an activity in dendrite. The model is as discussed further.

Keywords: currents, dendrites, induction, simulation

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Authors: Joanne Haddad

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The distinctive traits of early settlers at initial stages of institutional development may be crucial for cultural formation. In 1973, the cultural geographer Wilbur Zelinsky postulated this in his doctrine of “first effective settlement”. There is however little empirical evidence supporting the role of early settlers in shaping culture over the long run. This paper tests this hypothesis by relating early settlers’ culture to within state variation in gender norms in the United States. Settlers’ culture is captured using past female labor force participation, women’s suffrage, and financial rights at their place of origin. The paper documents the distinctive characteristics of settlers’ populations and provide suggestive evidence in support of the transmission of gender norms across space and time. Results from this analysis show that women’s labor supply is higher, in both the short and long run, in U.S. counties that historically hosted a larger settler population originating from places with favorable gender attitudes. Findings from this study shed new light on the importance of the characteristics of immigrants and their place of origin for cultural formation in hosting societies.

Keywords: female labor force participation, settlers, gender norms, cultural formation.

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Authors: Marwa Abdulsalam, Osamu Suzuki, Wirawan Dony Dahana

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One of the remarkable and unique industries in Japan is the food samples industry which can be noticed in most of the restaurants located around Japan. However, the market is getting saturated, which has pushed Japanese food sample manufacturers to start exploring new international markets. Most of the markets they explored were in the East Asian region, such as China or Korea. In this research, we examine the feasibility and the potential adoption rate of food samples in the international market outside the East Asian region. The main focus of this study is on the Saudi Arabian market. Nonetheless, since Saudi Arabia is a big market, the study results could possibly be applied to the international market as well. The study has conducted a quantitative survey to test the potential of the food samples industry in Saudi Arabia especially in 4 major cities: Jeddah, Mecca, Riyadh, and Dammam. The survey also tests the willingness to purchase, the average price point that the consumer is willing to pay for food samples, and the factors that drive restaurant owners to adopt the food samples system. The study created a correlation analysis between different factors, such as the geographic factor and the size of the restaurant factor, to examine the effect of different aspects on the purchasing decision. The study has found that the Japanese food samples system is predicted to adapt successfully in the Saudi Arabian market and in the international market alike due to the high importance of the food culture and the existence of the communication challenges that the food samples can solve. Additionally, the market survey stated in this study indicated that 83% of the restaurants’ managers are willing to adopt this system in their restaurants.

Keywords: food samples, innovative marketing, international market, marketing method

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Authors: Fety Nurlia Muzayanah, Arif Imam Suroso, Mukhamad Najib

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The market share of organic food in Indonesia just reaches 0.5-2 percents from the entire of agricultural products. The aim of this research is to analyze the relation of gender, work, age and final education toward the buying interest of organic food, to identify the factors influencing the resistance of the purchase of organic food, and to identify the market education process. The analysis result of Structural Equation Modeling (SEM) shows the factors causing the resistance of the purchase of organic food are the negative attitude toward organic food, the lack of affordable in range for organic food product and the lack of awareness toward organic food, while the subjective norms have no significant effect toward the buying interest. The market education process which can be done is the education about the use of the health of organic food, the organic certification and the economic value.

Keywords: market education, organic food, consumer behavior, structural equation modeling

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Authors: Javad Yarmahmoudi, Alireza Mirzaee

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Many active and passive structural health monitoring (SHM) techniques have been developed for detection of the defects of plates. Generally, riveted joints hold the plates together and their failure may create accidents. In this study, well known active and passive methods were modified for the evaluation of the health of the riveted joints between the plates. The active method generated Lamb waves and monitored their propagation by using lead zirconate titanate (PZT) disks. The signal was analyzed by using the wavelet transformations. The passive method used the Fiber Bragg Grating (FBG) sensors and evaluated the spectral characteristics of the signals by using Fast Fourier Transformation (FFT). The results indicated that the existing methods designed for the evaluation of the health of individual plates may be used for inspection of riveted joints with software modifications.

Keywords: structural health monitoring, SHM, active SHM, passive SHM, fiber bragg grating sensor, lead zirconate titanate, PZT

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Authors: Zain Ul Abideen

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The study examines the potentially dark and bright parts of behavioral biases in investors’ investment decisions in the Pakistani equity market. These biases, directly and indirectly, play a comprehensive role in controlling and deciding the investor’s investment decisions. Stock market anomalies are used as a mediator, while financial literacy is used as a moderator to check the mentioned relationship. The sample consisted of investors who have trading experience of more than two years in the stock market. The result indicates that calendar anomalies do not mediate between overconfidence bias and investment decisions. However, the study investigates the mediating role of fundamental and technical anomalies between overconfidence bias and investment decisions. Furthermore, calendar anomalies play a significant role between the disposition effect and investment decisions. Calendar anomalies also mediate between herding bias and investment decisions. Financial literacy significantly moderates between behavioral biases and stock market anomalies. This research would be beneficial for individual and professional investors in their investment decisions. They should be financially literate, consequently less biased and have no market anomalies. Investors in emerging and developed economies can make optimal decisions in their respective stock markets.

Keywords: behavioral biases, financial literacy, stock market anomalies, investment decision

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Authors: Nouby M. Ghazaly, Ahmed O. Moaaz, Mostafa Makrahy

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The main purpose of a car suspension system is to reduce the vibrations resulting from road roughness. The main objective of this research paper is to decrease vibration and improve passenger comfort through controlling car suspension system using sliding mode control techniques. The mathematical model for passive and active suspensions systems for quarter car model which subject to excitation from different road profiles is obtained. The active suspension system is synthesized based on sliding mode control for a quarter car model. The performance of the sliding mode control is determined through computer simulations using MATLAB and SIMULINK toolbox. The simulated results plotted in time domain, and root mean square values. It is found that active suspension system using sliding mode control improves the ride comfort and decrease vibration.

Keywords: quarter car model, active suspension system, sliding mode control, road profile

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Authors: Amirhossein Khazali, Mohsen Kalantar

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Energy storage units can play an important role to provide an economic and secure operation of future energy systems. In this paper, a stochastic energy and reserve market clearing scheme is presented considering storage energy units. The approach is proposed to deal with stochastic and non-dispatchable renewable sources with a high level of penetration in the energy system. A two stage stochastic programming scheme is formulated where in the first stage the energy market is cleared according to the forecasted amount of wind generation and demands and in the second stage the real time market is solved according to the assumed scenarios.

Keywords: energy and reserve market, energy storage device, stochastic programming, wind generation

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Authors: Renata Konadu

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Over the last two decades, the concept of environmental management and its related issues have received increased attention in global discourse and on management research agenda due to climate change and other environmental challenges. To abate and avert these challenges, diverse environmental policies, strategies and practices have been adopted by businesses and economies as a whole. Extant literature has placed much emphasis on whether improved environmental operational performance improves firm performance. However, there is a huge gap in the literature with regards to whether the adoption of environmental management practices and policies has a direct relationship with environmental operational performance (EOP). The current paper is intended to provide a comprehensive perspective of how different aspects of environmental management can relate to firms EOP. Using a panel regression analysis of 149 large listed firms in the UK, the study found evidence of both negative and positive statistically significant link between some Environmental Policies (EP), Environmental Processes (EPR), Environmental Management Systems (EMS) and EOP. The findings suggest that in terms of relating EP, EPR and EMS to Greenhouse Gases (GHGs) emissions for instance, the latter should be viewed separately in Scopes 1, 2 and 3 as developed by GHG protocol. The results have useful implication for policy makers and managers when designing strategies and policies to reduce negative environmental impacts.

Keywords: environmental management, environmental operational performance, GHGs, large listed firms

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Authors: Nadia Sghaier

Abstract:

In this paper, we aim to identify the determinants of the life and non-life insurance premiums of different lines for the case of the Tunisian insurance market over a recent period from 1997 to 2019. The empirical analysis is conducted using the linear cointegration techniques in the panel data framework, which allow both long and short-run relationships. The obtained results show evidence of long-run relationship between premiums, losses, and financial variables (stock market indices and interest rate). Furthermore, we find that the short-run effect of explanatory variables differs across lines. This finding has important implications for insurance tarification and regulation.

Keywords: insurance premiums, lines, Tunisian insurance market, cointegration approach in panel data

Procedia PDF Downloads 171

Authors: Abul Shamsuddin

Abstract:

The Islamic stock market indices are constructed by screening out stocks that are incompatible with Islam’s prohibition of interest and certain lines of business. This study examines the effects of Islamic screening on the risk-return characteristics of Islamic vis-a-vis mainstream equity portfolios. We use data on Dow Jones Islamic market indices and FTSE Global Islamic indices over 1993-2013. We observe that Islamic equity indices outperform their mainstream counterparts in both raw and risk-adjusted returns. In addition, Islamic equity indices are more resilient to turbulence in international markets than that of their mainstream counterparts. The findings are robust across a variety of portfolio performance measures.

Keywords: Dow Jones Islamic market index, FTSE global Islamic index, ethical investment, finance

Procedia PDF Downloads 329