Search results for: financial indicators.

Authors: Weiju Zhou, Alex Hopkins, Ruoling Chen

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Background: China has increased the gap in income between richer and poorer over the past 40 years, and the number of deaths from people with angina has been rising. It is unclear whether socioeconomic status (SES) is associated with increased mortality in older people with angina. Methods: Data from a cohort study of 2,380 participants aged ≥ 65 years, who were randomly recruited from 5-province urban communities were examined in China. The cohort members were interviewed to record socio-demographic and risk factors and document doctor-diagnosed angina at baseline and were followed them up in 3-10 years, including monitoring vital status. Multivariate Cox regression models were employed to examine all-cause mortality in relation to low SES. Results: The cohort follow-up identified 373 deaths occurred; 41 deaths in 208 angina patients. Compared to participants without angina (n=2,172), patients with angina had increased mortality (multivariate adjusted hazard ratio (HR) was 1.41, 95% CI 1.01-1.97). Within angina patients, the risk of mortality increased with low satisfactory income (2.51, 1.08-5.85) and having financial problem (4.00, 1.07-15.00), but significantly with levels of education and occupation. In non-angina participants, none of these four SES indicators were associated with mortality. There was a significant interaction effect between angina and low satisfactory income on mortality. Conclusions: In China, having low income and financial problem increase mortality in older people with angina. Strategies to improve economic circumstances in older people could help reduce inequality in angina survival.

Keywords: angina, mortality, older people, socio-economic status

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Authors: Siti Raihana Hamzah

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This paper elaborates risk shifting in debt financing system as the ultimate cause of the global financial crisis. In contrast, risk sharing in equity financing like sukuk helps the economic system to be better sustained. Nevertheless, some types of sukuk are haunted by the issue of imitation with bonds. The critics on the imitation issue not only have raised doubt on the ability of sukuk to diminish risk shifting behavior but also the ability of this Islamic financial instrument to ensure better future financial stability. Through that, this paper provides discussion on the possibility of sukuk to induce risk shifting and how equity financing may help sukuk to be free from risk shifting. This paper is important in the sense that sukuk receives a significant demand from investors throughout the world. For this instrument to be supportive in the future economic stability, the issue of imitation needs to be identified and addressed. Furthermore, critics cannot be focused on debts and its ability to gauge the financial flux but also to sukuk due to their structures similarity.

Keywords: global financial crisis, debt, risk-shifting, risk sharing, equity, sukuk, bonds

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Authors: K.Ishii, T. Furuichi, A. Fujiyama, S. Hariya

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Rice straw pellets are a promising fuel as a renewable energy source. Financial analysis is needed to make a utilization system using rise straw pellets financially feasible, considering all regional conditions including stakeholders related to the collection and storage, production, transportation and heat utilization. We conducted the financial analysis of feasibility for a heat utilization system using rice straw pellets which has been developed for the first time in Nanporo, Hokkaido, Japan. Especially, we attempted to clarify the effect of factors required for the system to be financial feasibility, such as the heating energy demand and collection and storage method of rice straw. The financial feasibility was found to improve when increasing the heating energy demand and collecting wheat straw in August separately from collection of rice straw in November because the costs of storing rice straw and producing pellets were reduced. However, the system remained financially unfeasible. This study proposed a contractor program funded by a subsidy from Nanporo local government where a contracted company, instead of farmers, collects and transports rice straw in order to ensure the financial feasibility of the system, contributing to job creation in the region.

Keywords: rice straw, pellets, heating energy demand, collection, storage

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Authors: O. B. Urhibo, D. Imhonopi, T. George

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The global rate of decline in entrepreneurial activities, and the prevalence in Africa, especially Nigeria, is more worrisome. In recent times, these problems, such as the lack of accessibility and utilization of financial incentives needed to promote entrepreneurial activities, have led to a decrease in entrepreneurial activities. The causes of the decline have been evaluated from a different perspective and have further confirmed the relevance and need for the sustainability of the Fashion industry. With the increasing rate of unemployment and poverty in Nigeria and the literature gap in the social context, this study investigated the patterns of sustainable financial incentives utilisation among fashion design entrepreneurs in Nigeria through a qualitative approach. The Eastern part of Nigeria was considered in this study because of the high rate of market activity for textile and clothing firms. Specifically, Delta state was considered in this study. A purposive sampling technique was used to select key informants consisting of twelve (12) executives of the associations (i.e., Fashion Designer & Exhibitors Association, Delta Fashion Designers, and Fashion Designers Association of Nigeria for the interview sessions. Four themes emanate from the thematic analysis -lack of sufficient collateral, difficulties and duration of loan application processes, unacceptable business proposal/plan, and the absence of audited financial accounts were found to be the patterns of sustainable financial incentives utilisation among fashion design entrepreneurs in Nigeria. The promotion of sustainable patterns and supports has been suggested to reduce the challenges of sustainable financial incentives utilisation among fashion design entrepreneurs.

Keywords: entrepreneurship, fashion design, financial incentives, patterns, sustainability, utilisation

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Authors: J. L. Oliver, T. Agryzkov, L. Tortosa, J. Vicent, J. Santacruz

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This paper aims to demonstrate how the use of Network Theory can be applied to a very interesting and complex urban situation: The parts of a city which may have some patrimonial value, but because of their lack of relevant architectural elements, they are not considered to be historic in a conventional sense. In this paper, we use the suburb of La Villaflora in the city of Quito, Ecuador as our case study. We first propose a system of indicators as a tool to characterize and quantify the historic value of a geographic area. Then, we apply these indicators to the suburb of La Villaflora and use Network Theory to understand and propose actions.

Keywords: graphs, mathematics, networks, urban studies

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Authors: Anocha Kimkong, Natnichar Kleebbuabarn

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This research work has the objective to analyze the financial status and operational performance of Suan Sunandha Rajabhat University (SSRU) in 3 fiscal years (2011-2013). The tool used is a form to record financial statements and balances of the university. The analysis is based on the calculation that regards the figures in the fiscal year of 2011 as the 100% bases to be compared with the same figures in the fiscal years of 2012 and 2013, which are multiplied by 100 and divided by the base figures. The outcomes are the percentages of each year, which can reflect the rising, stable, and falling trends. The results from the analysis reveal that SSRU’s financial status is getting better because the gross assets, debts and accumulated cash are increasing in the fiscal years of 2012 and 2013. Concerning the operational performance, the university’s incomes and expenses are rising from the fiscal year of 2011. This makes the university’s incomes grow higher than expenses.

Keywords: financial status, operational performance, Suan Sunandha Rajabhat University, balances

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Authors: Tran Dinh Lan, Do Thi Thu Huong

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Among the 17 goals of the United Nations, 2030 Agenda for Sustainable Development, SDG 14.2 and SDG 14.4 under SDG 14 directly address the sustainable management, exploitation, and use of marine ecosystems. To achieve these goals, it is necessary to quantify the level of sustainable use of marine ecosystems, which have been paid attention for more than two decades in the direction of a quantitative approach by indicator and index development using methods of building and analyzing indicators and indices. With the employment of the above methods, over the past two decades, a number of marine ecosystems in Vietnam have been quantitatively evaluated for sustainable use for integrated coastal and marine management. Thirty indicators for sustainable use of marine ecosystems in the Northeast of Vietnam, together with indices, have been developed to assess mangrove, coral, and beach ecosystems. An assessment shows the following results. The mangrove ecosystem declined from sustainable to unsustainable uses in the period 1989-2007. The coral ecosystem in 2003 was at a sensitive point between sustainable and unsustainable uses. The beach ecosystem was evaluated with ten selected beaches in the period 2013-2018, showing that nine beaches are at a sustainable level, and one beach is at an unsustainable level. The Thua Thien-Hue coastal lagoon ecosystem assessed by 21 indicators of environmental vulnerability in 2014 showed less sustainability. The marine ecosystems around the offshore islands of Bach Long Vi, Con Co, and Tho Chu were tested to assess the level of sustainable use by the index of total economic value. The results show that these ecosystems are being used sustainably but are also at risk of falling to an unsustainable level (Tho Chu). The use of the environmental vulnerability index or economic value index to evaluate ecosystem sustainability only reflects parts of the function or value of the system but does not fully reflect the sustainability of the system.

Keywords: index, indicators, sustainability evaluation, Vietnam marine ecosystems

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Authors: Anifowose Oluwafemi Dele, Ngah Rohana, Hasni Abdulahi

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The economic crisis, which resulted in university funding cuts with an astronomically devastating impact on teaching and research around the world. Sequel to this, Nigerian universities are in disarray due to insufficient government funding and are under pressure to discover new financial streams of Internally Generated Revenue (IGR) to disentangle finance-related teething problems and most tangible means of outsourcing finance inclusively for the creation of more entrepreneurial ventures through the possibilities of prudent IGR management. To the best of our knowledge, one way to address this still-unknown or underappreciated cog is through the strategic use of IGR and the outsourcing of financing for the launch of entrepreneurial ventures. As a result, it is critical to investigate and evaluate financial inclusion through prudently managed IGR to achieve greater financial inclusion for more long-term entrepreneurial ventures. Justifying the need to look inward and devise mechanisms for strong instruments internal fund raising and managing cash inflows to benefit university entrepreneurial ventures to increase the University's IGR for the benefit of the university and its stakeholders. The paper concludes that University Managers must fully accept the use of genuine means of boosting IGR through financial inclusion of in-house funds to aggressively established IGR boosting and the creation of entrepreneurial ventures that could serve as an alternative to inadequate government funding.

Keywords: government funding, university managers, financial inclusion, entrepreneurial venture

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Authors: Shamshiri Mitra, Abedi Rahim

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This paper investigates corporate investment behavior and its relationship with ownership structure and financial leverage for the listed company of Tehran stock exchange during 2008-2012. The results show that the concentration of ownership has s significant positive effect on corporate investment. The results for the kind of major owners show that institutional ownership had a positive significant effect and state and individual ownership had negative significant effects on the corporate investment but the effect of corporate ownership was not significant. Furthermore the effect of financial leverage was negative and significant.

Keywords: corporate investment behavior, financial leverage, ownership structure corporate investment behavior

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Authors: Dial Tassadit Rania, Figueiredo De Oliveira Gabriel

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In this paper, we investigate the relationship between ports and their hinterland and foreland environments and the competitive relationship between the ports themselves. These two environments are changing, evolving and introducing new challenges for commercial and economic development at the regional, national and international levels. Because of the rise of the containerization phenomenon, shipping costs and port handling costs have considerably decreased due to economies of scale. The volume of maritime trade has increased substantially and the markets served by the ports have expanded. On these bases, overlapping hinterlands can give rise to the phenomenon of competition between ports. Our main contribution comparing to the existing literature on this issue, is to build a set of hinterland, foreland and competition indicators. Using these indicators? we investigate the effect of hinterland accessibility, foreland connectivity and inter-ports competition on containerized traffic of Europeans ports. For this, we have a 10-year panel database from 2004 to 2014. Our hinterland indicators are given by two indicators of accessibility; they describe the market potential of a port and are calculated using information on population and wealth (GDP). We then calculate population and wealth for different neighborhoods within a distance from a port ranging from 100 to 1000km. For the foreland, we produce two indicators: port connectivity and number of partners for each port. Finally, we compute the two indicators of inter-port competition and a market concentration indicator (Hirshmann-Herfindhal) for different neighborhood-distances around the port. We then apply a fixed-effect model to test the relationship above. Again, with a fixed effects model, we do a sensitivity analysis for each of these indicators to support the results obtained. The econometric results of the general model given by the regression of the accessibility indicators, the LSCI for port i, and the inter-port competition indicator on the containerized traffic of European ports show a positive and significant effect for accessibility to wealth and not to the population. The results are positive and significant for the two indicators of connectivity and competition as well. One of the main results of this research is that the port development given here by the increase of its containerized traffic is strongly related to the development of its hinterland and foreland environment. In addition, it is the market potential, given by the wealth of the hinterland that has an impact on the containerized traffic of a port. However, accessibility to a large population pool is not important for understanding the dynamics of containerized port traffic. Furthermore, in order to continue to develop, a port must penetrate its hinterland at a deep level exceeding 100 km around the port and seek markets beyond this perimeter. The port authorities could focus their marketing efforts on the immediate hinterland, which can, as the results shows, not be captive and thus engage new approaches of port governance to make it more attractive.

Keywords: accessibility, connectivity, European containerization, European hinterland and foreland, inter-port competition

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Authors: Fatih Gundogan, Fatih Kafali, Abdullah Karadag, Alper Baloglu, Ersoy Pehlivan, Mustafa Eruyar, Osman Bayram, Orhan Karademiroglu, Wasim Shoman

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Nowadays many cities around the world are investing their efforts and resources for the purpose of facilitating their citizen’s life and making cities more livable and sustainable by implementing newly emerged phenomena of smart city. For this purpose, related research institutions prepare and publish smart city indices or benchmarking reports aiming to measure the city’s current ‘smartness’ status. Several functional domains, various indicators along different selection and calculation methods are found within such indices and reports. The selection criteria varied for each institution resulting in inconsistency in the ranking and evaluating. This research aims to evaluate the impact of selecting such functional domains, indicators and calculation methods which may cause change in the rank. For that, six functional domains, i.e. Environment, Mobility, Economy, People, Living and governance, were selected covering 19 focus areas and 41 sub-focus (variable) areas. 60 out of 191 indicators were also selected according to several criteria. These were identified as a result of extensive literature review for 13 well known global indices and research and the ISO 37120 standards of sustainable development of communities. The values of the identified indicators were obtained from reliable sources for ten cities. The values of each indicator for the selected cities were normalized and standardized to objectively investigate the impact of the chosen indicators. Moreover, the effect of choosing an integration method to represent the values of indicators for each city is investigated by comparing the results of two of the most used methods i.e. geometric aggregation and fuzzy logic. The essence of these methods is assigning a weight to each indicator its relative significance. However, both methods resulted in different weights for the same indicator. As a result of this study, the alternation in city ranking resulting from each method was investigated and discussed separately. Generally, each method illustrated different ranking for the selected cities. However, it was observed that within certain functional areas the rank remained unchanged in both integration method. Based on the results of the study, it is recommended utilizing a common platform and method to objectively evaluate cities around the world. The common method should provide policymakers proper tools to evaluate their decisions and investments relative to other cities. Moreover, for smart cities indices, at least 481 different indicators were found, which is an immense number of indicators to be considered, especially for a smart city index. Further works should be devoted to finding mutual indicators representing the index purpose globally and objectively.

Keywords: functional domain, urban city index, indicator, smart city

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Authors: Evisa Mitrou, Nicholas Tsitsianis, Supriya Shinde

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In the age of digitisation and globalisation, businesses have shifted online and are investing in big data analytics (BDA) to respond to changing market conditions and sustain their performance. Our study shifts the focus from the adoption of BDA to the impact of BDA on financial performance. We explore the financial performance of both BDA-vendors (business-to-business) and BDA-clients (business-to-customer). We distinguish between the five BDA-technologies (big-data-as-a-service (BDaaS), descriptive, diagnostic, predictive, and prescriptive analytics) and discuss them individually. Further, we use four perspectives (internal business process, learning and growth, customer, and finance) and discuss the significance of how each of the five BDA-technologies affects the performance measures of these four perspectives. We also present the analysis of employee engagement, average turnover, average net income, and average net assets for BDA-clients and BDA-vendors. Our study also explores the effect of the COVID-19 pandemic on business continuity for both BDA-vendors and BDA-clients.

Keywords: BDA-clients, BDA-vendors, big data analytics, financial performance

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Authors: Aparna Viswanath

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Electricity spot prices are highly volatile under optimal generation capacity scenarios due to factors such as non-storability of electricity, peak demand at certain periods, generator outages, fuel uncertainty for renewable energy generators, huge investments and time needed for generation capacity expansion etc. As a result market participants are exposed to price and volume risk, which has led to the development of risk management practices. This paper provides an overview of risk management practices by market participants in electricity markets using financial derivatives.

Keywords: financial derivatives, forward, futures, options, risk management

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Authors: Mohammed Sani Abdulai

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Ghana’s Public Financial Management reforms have been going on for some two decades now (1997/98 to 2017/18). Given this long period of reforms, Ghana in 2019 is putting together both a Public Financial Management (PFM) strategy and a Ghana Integrated Financial Management Information System (GIFMIS) strategy for the next 5-years (2020-2024). The primary aim of these dual strategies is assisting the country in moving beyond reforms to consolidation and sustainability. In this paper we, first, examined the evolution of Ghana’s PFM reforms. We, secondly, reviewed the legal and institutional reforms undertaken to strengthen the country’s key PFM institutions. Thirdly, we summarized the strengths and weaknesses identified by the 2018 Public Expenditure and Financial Accountability (PEFA) assessment of Ghana’s PFM system relating to its macro-fiscal framework, budget preparation and approval, budget execution, accounting and fiscal reporting as well as external scrutiny and audit. We, finally, considered what the country should be doing to achieve its intended goal of PFM consolidation and sustainability. Using a qualitative method of review and analysis of existing documents, we, through this paper, brought to the fore the lessons that could be learnt by other developing countries from Ghana’s PFM reforms experiences. These lessons included the need to: (a) undergird any PFM reform with a comprehensive PFM reform strategy; (b) undertake a legal and institutional reforms of the key PFM institutions; (c) assess the strengths and weaknesses of those reforms using PFM performance evaluation tools such as PEFA framework; and (d) move beyond reforms to consolidation and sustainability.

Keywords: public financial management, public expenditure and financial accountability, reforms, consolidation, sustainability

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Authors: Alitajer Saeed, Negintaji Farshad

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This study has been examined the relationship between anatomical components of mosques and place attachment of people to anatomies of mosques with the approach of attending to Islamic wisdom. To this end, this article by reviewing the theoretical and empirical literature of mosques' anatomy and the role of anatomy on the architectural design of Iranian mosques by examining the quantitative and qualitative indicators and in order to understand and identify the anatomy of mosques, components such as: entrance, portico, minarets, domes, bedchamber and pool have been investigated. For this purpose, SPSS software has been used. Research is related to field and is of descriptive, analytical and inferential type and quantitative and qualitative indicators have been examined. Statistical analysis obtained from the questionnaire indicates that there is a significant relationship between the anatomical components of architecture and place attachment of the participants. By understanding and identifying the anatomy of mosques and appropriate planning to use the anatomy in Islamic architecture and considering it as an eminent indicators of designing, it can present great Iranian architecture.

Keywords: Islamic wisdom, Islamic architecture, mosque anatomy place attachment, Islamic art

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Authors: Anna Paola Micheli, Carmelo Intrisano, Anna Maria Calce

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This research focused on the capability of health tourism to improve the economic and financial performance of healthcare companies. It is assumed that health tourism companies have better profitability and financial efficiency because they can also count on cross-border demand differently from no health tourism companies. A three-level gap analysis was conducted: the first concerns health tourism companies located in Italy and in the other EU28 states; in the second Italian and EU28, no health tourism companies were compared; the third level is about the Italian system with a comparison between health tourism and no health tourism companies. Findings highlighted that Italian healthcare companies have better profitability performance if compared to European ones, but they present weaknesses in the financial position given the illiquidity and excessive leverage. Furthermore, studying the Italian system, we found that health tourism companies are more profitable than no health tourism companies.

Keywords: financial performance, gap analysis, health tourism, profitability performance, value creation

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Authors: Alexander Marx

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Measuring and mitigating market risk is essential for the stability of enterprises, especially for major banking corporations and investment bank firms. To employ these risk measurement and mitigation processes, the Value at Risk (VaR) is the most commonly used risk metric by practitioners. In the past years, we have seen significant weaknesses in the predictive performance of the VaR in times of financial market crisis. To address this issue, the purpose of this study is to investigate the value-at-risk (VaR) estimation models and their predictive performance by applying a series of backtesting methods on the stock market indices of the G7 countries (Canada, France, Germany, Italy, Japan, UK, US, Europe). The study employs parametric, non-parametric, and semi-parametric VaR estimation models and is conducted during three different periods which cover the most recent financial market crisis: the overall period (2006–2022), the global financial crisis period (2008–2009), and COVID-19 period (2020–2022). Since the regulatory authorities have introduced and mandated the Conditional Value at Risk (Expected Shortfall) as an additional regulatory risk management metric, the study will analyze and compare both risk metrics on their predictive performance.

Keywords: value at risk, financial market risk, banking, quantitative risk management

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Authors: Chrysoula Karathanasi, Senad Karavdic, Angela Odero, Michèle Baumann

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It is not only the economic determinants that impact on life conditions, but maintaining a good level of life satisfaction (LS) may also be an important challenge currently. In Luxembourg, university students receive financial aid from the government. They are then registered at the Centre for Documentation and Information on Higher Education (CEDIES). Luxembourg is built on migration with almost half its population consisting of foreigners. It is upon this basis that our research aims to analyze the associations with mental health factors (health satisfaction, psychological quality of life, worry), perceived financial situation, career attitudes (adaptability, optimism, knowledge, planning) and LS, for non-Luxembourgish and native postgraduate students. Between 2012 and 2013, postgraduates registered at CEDIES were contacted by post and asked to participate in an online survey with either the option of English or French. The study population comprised of 644 respondents. Our statistical analysis excluded: those born abroad who had Luxembourgish citizenship, or those born in Luxembourg who did not have citizenship. Two groups were formed one consisting 147 non-Luxembourgish and the other 284 natives. A single item measured LS (1=not at all satisfied to 10=very satisfied). Bivariate tests, correlations and multiple linear regression models were used in which only significant relationships (p<0.05) were integrated. Among the two groups no differences were found between LS indicators (7.8/10 non-Luxembourgish; 8.0/10 natives) as both were higher than the European indicator of 7.2/10 (for 25-34 years). In the case of non-Luxembourgish students, they were older than natives (29.3 years vs. 26.3 years) perceived their financial situation as more difficult, and a higher percentage of their parents had an education level higher than a Bachelor's degree (father 59.2% vs 44.6% for natives; mother 51.4% vs 33.7% for natives). In addition, the father’s education was related to the LS of postgraduates and the higher was the score, the greater was the contribution to LS. Whereas for native students, when their scores of health satisfaction and career optimism were higher, their LS’ score was higher. For both groups their LS was linked to mental health-related factors, perception of their financial situation, career optimism, adaptability and planning. The higher the psychological quality of life score was, the greater the LS of postgraduates’ was. Good health and positive attitudes related to the job market enhanced their LS indicator.

Keywords: career attributes, father's education level, life satisfaction, mental health

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Authors: Chor Nejmeddine, Ines Ben Omrane, Mohamed Abdelwahed

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In this paper, we present a posteriori analysis of the discretization of the heat equation by spectral element method. We apply Euler's implicit scheme in time and spectral method in space. We propose two families of error indicators, both of which are built from the residual of the equation and we prove that they satisfy some optimal estimates. We present some numerical results which are coherent with the theoretical ones.

Keywords: heat equation, spectral elements discretization, error indicators, Euler

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Authors: Oscar E. Cariceo

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In Chile, social workers´ professional training is developed in the undergraduate level, mainly. Despite the fact that several schools have been launched Master of Social Work programs, the Bachelor in Social Work is the minimum qualification to start a professional career. In the current Chilean higher education system, there exist different financial aid options in order to guarantee equal access to higher education. These policies, which are student loans and scholarships, basically, are applied and distributed by Government agencies. They are linked to academic performance and socio-economic needs, in terms of standardized test scores and social vulnerability criteria. In addition, institutions that enroll students with high scores, also receive direct financial support. In other words, social work students must compete for the resources to pay for college tuitions and fees with other students from different programs and knowledge fields and, as a consequence, they can indirectly enhance schools´ money income. This work aims to describe the reality of social work students to access to financial aid in Chile. The analysis presents the results of the University Selection Test of students, who were accepted in social work undergraduate programs during 2014 related to their qualifications to apply to three main financial aid programs, and their contribution to attracting resources to their schools. In general, data show that social work students participate in a low proportion in the distribution of financial aid, both student loans and scholarships. Few of them reach enough scores to guarantee direct financial resources to their institutions. Therefore, this situation has deep implications on equal access to higher education for vulnerable students and affects equal access to training options for young social workers, due to the highly competitive financial aid system.

Keywords: social work, professional training, higher education, financial aid, equity

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Authors: Moustafa Osman

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The paper describes and analyses different good practice examples of protective levels, and initiatives actions (“framework conditions”) and encourages the uptake of environmental management systems (EMSs) to small and medium-sized enterprises (SMEs). Most of industries tend to take EMS as tools leading towards sustainability planning. The application of these tools has numerous environmental obligations that neither suggests decision nor recommends what a company should achieve ultimately. These set up clearly defined criteria to evaluate environmental protective action (EEPA) into sustainability indicators. The physical integration will evaluate how to incorporate traditional knowledge into baseline information, preparing impact prediction, and planning mitigation measures in monitoring conditions. Thereby efforts between the government, industry and community led protective action to concern with present needs for future generations, meeting the goal of sustainable development. The paper discusses how to set out distinct aspects of sustainable indicators and reflects inputs, outputs, and modes of impact on the environment.

Keywords: environmental management, sustainability, indicators, protective action

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Authors: Vladimir Simovic, Matija Varga, Predrag Oreski

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XHTML and XBRL are the standard languages for creating a database for the purpose of displaying financial statements on web applications. Today, XBRL is one of the most popular languages for business reporting. A large number of countries in the world recognize the role of XBRL language for financial reporting and the benefits that the reporting format provides in the collection, analysis, preparation, publication and the exchange of data (information) which is the positive side of this language. Here we present all advantages and opportunities that a company may have by using the XBRL format for business reporting. Also, this paper presents XBRL and other languages that are used for creating the database, such XML, XHTML, etc. The role of the AJAX complex model and technology will be explained in detail, and during the exchange of financial data between the web client and web server. Here will be mentioned basic layers of the network for data exchange via the web.

Keywords: XHTML, XBRL, XML, JavaScript, AJAX technology, data exchange

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Authors: Mike Tsionas

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The paper develops new indices of financial stability based on an explicit model of expected utility maximization by financial institutions subject to the classical technology restrictions of neoclassical production theory. The model can be estimated using standard econometric techniques, like GMM for dynamic panel data and latent factor analysis for the estimation of co-variance matrices. An explicit functional form for the utility function is not needed and we show how measures of risk aversion and prudence (downside risk aversion) can be derived and estimated from the model. The model is estimated using data for Eurozone countries and we focus particularly on (i) the use of the modeling approach as an “early warning mechanism”, (ii) the bank- and country-specific estimates of risk aversion and prudence (downside risk aversion), and (iii) the derivation of a generalized measure of risk that relies on loan-price uncertainty.

Keywords: financial stability, banking, expected utility maximization, sub-prime crisis, financial crisis, eurozone, PIIGS

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Authors: Alireza Karimi

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Artificial Intelligence (AI) is reshaping various industries, and accounting is no exception. With the ability to process vast amounts of data quickly and accurately, AI is revolutionizing how financial professionals manage, analyze, and report financial information. In this article, we will explore the diverse applications of AI in accounting and its profound impact on the field. Automation of Repetitive Tasks: One of the most significant contributions of AI in accounting is automating repetitive tasks. AI-powered software can handle data entry, invoice processing, and reconciliation with minimal human intervention. This not only saves time but also reduces the risk of errors, leading to more accurate financial records. Pattern Recognition and Anomaly Detection: AI algorithms excel at pattern recognition. In accounting, this capability is leveraged to identify unusual patterns in financial data that might indicate fraud or errors. AI can swiftly detect discrepancies, enabling auditors and accountants to focus on resolving issues rather than hunting for them. Real-Time Financial Insights: AI-driven tools, using natural language processing and computer vision, can process documents faster than ever. This enables organizations to have real-time insights into their financial status, empowering decision-makers with up-to-date information for strategic planning. Fraud Detection and Prevention: AI is a powerful tool in the fight against financial fraud. It can analyze vast transaction datasets, flagging suspicious activities and reducing the likelihood of financial misconduct going unnoticed. This proactive approach safeguards a company's financial integrity. Enhanced Data Analysis and Forecasting: Machine learning, a subset of AI, is used for data analysis and forecasting. By examining historical financial data, AI models can provide forecasts and insights, aiding businesses in making informed financial decisions and optimizing their financial strategies. Artificial Intelligence is fundamentally transforming the accounting profession. From automating mundane tasks to enhancing data analysis and fraud detection, AI is making financial processes more efficient, accurate, and insightful. As AI continues to evolve, its role in accounting will only become more significant, offering accountants and finance professionals powerful tools to navigate the complexities of modern finance. Embracing AI in accounting is not just a trend; it's a necessity for staying competitive in the evolving financial landscape.

Keywords: artificial intelligence, accounting automation, financial analysis, fraud detection, machine learning in finance

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Authors: Shadab Bahreini

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Public transportation is one of the most important aspects of cities, which impacts various factors of the Quality of Life (QoL) of citizens. A passenger's experience is influenced by a variety of indicators in addition to the cost and safety of the trip. This article intends to investigate how QoL is affected by public transport in an urban environment by introducing a literature review of QoL and Quality of Urban Life (QoUL), investigating the intersection of QoL and public transport, and reviewing the background theory for Transport Quality of Life (TQoL). The article proposes a Public Transport Quality of Life (PTQoL) framework comprised of a set of indicators that measure how public transport impacts QoL across personal (physical and mental), socioeconomic, and environmental dimensions. The study proposes using the framework to evaluate objective or subjective factors affecting a person's QoL regarding public transport. Finally, it concludes that public transport is a key component in shaping QoL in urban environments and that policymakers and urban planners should use the PTQoL framework to make evidence-based decisions to improve public transport systems and their impact on QoL.

Keywords: public transport, quality of life, subjective and objective indicators, urban environment

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Authors: Gultekin Gurcay

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In this paper, effects and responses of stock were analyzed. This analysis was done periodically. The dimensions of the financial crisis impact on the stock market were investigated by GARCH model. In this context, S&P 500 stock market is modeled with DAX, NIKKEI and BIST100. In this way, The effects of the changing in S&P 500 stock market were examined on European and Asian stock markets. Conditional variance coefficient will be calculated through garch model. The scope of the crisis period, the conditional covariance coefficient will be analyzed comparatively.

Keywords: conditional variance coefficient, financial crisis, garch model, stock market

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Authors: Swati Rajput

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Wellbeing is a multifaceted concept. Its definition has evolved to become more holistic over the years. The paper attempts to build up the understanding of the concept of wellbeing and marks the trajectory of its conceptual evolution. The paper will also elaborate and analyse various indicators of socio-economic wellbeing in India at state level. Ranking method has been applied to assess the situation of each state in context to the variable selected and wellbeing as a whole. Maps have been used to depict and illustrate the same. The data shows that the socio-economic wellbeing level is higher in states of Himachal Pradesh, Jammu and Kashmir, Punjab, Uttrakhand, Uttar Pradesh, Tamil Nadu, Bihar, and Lakshadweep. The level of wellbeing is very lower in Rajasthan, Madhya Pradesh, Telengana, Andhra Pradesh, Odisha, Assam, Arunachal Pradesh, and Tripura. Environment plays an important role in maintaining health. Environment and health are important indicators of wellbeing. The paper would further analyse some indicators of environment and health and find the change in the result of wellbeing levels of different states.

Keywords: socio economic factors, wellbeing index, health, mapping

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Authors: Hamid Hanifi, Adel Azar, Alireza Booshehri

Abstract:

In order to know about the capability level of R & D units in automotive industry, it is essential that organizations always compare themselves with standard level and higher than themselves so that to be improved continuously. In this research, with respect to the importance of this issue, we have tried to present an assessment model for R & D capabilities having reviewed on new products development in automotive industry of Iran. Iran Khodro Company was selected for the case study. To this purpose, first, having a review on the literature, about 200 indicators effective in R & D capabilities and new products development were extracted. Then, of these numbers, 29 indicators which were more important were selected by industry and academia experts and the questionnaire was distributed among statistical population. Statistical population was consisted of 410 individuals in Iran Khodro Company. We used the 410 questionnaires for exploratory factor analysis and then used the data of 308 questionnaires from the same population randomly for confirmatory factor analysis. The results of exploratory factor analysis led to categorization of dimensions in 9 secondary dimensions. Naming the dimensions was done according to a literature review and the professors’ opinion. Using structural equation modeling and AMOS software, confirmatory factor analysis was conducted and ultimate model with 9 secondary dimensions was confirmed. Meanwhile, 9 secondary dimensions of this research are as follows: 1) Research and design capability, 2) Customer and market capability, 3) Technology capability, 4) Financial resources capability, 5) Organizational chart, 6) Intellectual capital capability, 7) NPD process capability, 8) Managerial capability and 9) Strategy capability.

Keywords: research and development, new products development, structural equations, exploratory factor analysis, confirmatory factor analysis

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Authors: Simeon Karafolas, Maciej Woźniak

Abstract:

Mostly of public financing programs at national and regional level are funded from European Union sources. EU can participate directly to a national and regional program (example LEADER initiative, URBAN…) or indirectly by funding regional or national funds. Funds from European Union are provided from EU multiannual financial framework form which the annual budget is programmed. The adjusted program 2007-2013 of the EU considered commitments of almost 1 trillion Euros for the EU-28 countries. Provisions of the new program 2014-2020 consider commitments of more than 1 trillion Euros. Sustainable growth, divided to Cohesion and Competitiveness for Growth an Employment, is one of the two principal categories; the other is the preservation and management of natural resources. Through this financing process SMEs benefited of EU and public sources by receiving grants for their investments. Most of the financial instruments are available indirectly through the national financial intermediaries. Part of them is managed by the European Investment Fund. The paper focuses on the public financing to SMEs by examining case studies on divers forms of public help. It tries to distinguish the efficiency of the examined good practices and therefore try to have some conclusions on the possibility of application to other regions.

Keywords: DIFASS, grants, SMEs, public financing

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Authors: Nwobu Obiamaka, Owolabi Akintola

Abstract:

This study examined the extent of statistical significant difference between the economic, environmental, governance and social aspects of sustainability reporting as a result of board committee on sustainability and time (year) of reporting for business organizations in the Nigerian banking sector. The years of reporting under consideration were 2010, 2011, 2012 and 2013. Content analysis methodology was employed through a reporting index used to score the amount of economic, environmental, governance and social indicators of sustainability reporting. The results of this study indicated that business organizations with board committee on sustainability had more indicators of sustainability reporting than those without board committees on sustainability issues. Also, sustainability reporting in 2013 was higher than that of prior years (2012, 2011 and 2010) for the economic, environmental and social indicators. The governance indicators of 2012 was highest compared to the other years (2013, 2011 and 2010) under consideration in this study. The implication of this finding is that business organizations that have board committees on sustainability are monitored by such boards to report more to their stakeholders. On the other hand, business organizations are appreciating the need to engage in sustainability reporting with each passing year. This could be due to the Central Bank of Nigeria (CBN) Sustainability Reporting framework that business organizations in the banking sector have to adhere to. When sustainability issues are monitored from the board of directors, business organizations are likely to increase and improve on their sustainability reporting.

Keywords: governance, organizations, reporting, sustainability

Procedia PDF Downloads 288