Search results for: market chain
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 5036

Search results for: market chain

1136 Attitudes of Young Adults with Physical Disabilities towards Occupational Preferences

Authors: Limor Gadot, Orly Sarid

Abstract:

Integration of young adults with disabilities (YAWD) into workplaces provides an opportunity for social and occupational mobility, enabling them to financial independence. To enhance integration, it is important to understand their occupational preferences as well as the factors that influencing it such as demographic variables, self-assessed health, beliefs about work, subjective norms, and self-efficacy. Planned behavior theory was chosen as a basis for this study. A cross-sectional study, based on preliminary sample of 37 YAWD who have been recognized by the National Insurance Institute and are engaged in a year of national service. The finding shows that most of the participants were single (97%) women (60%); average age was 22(+ 2) years, approximately half were secular. Most of the participants had disabilities resulting from CP (96%). Self-assessed health was correlated positively and significantly with behavioral intentions to work in the free market (r = .33, p = .05), and significant negative correlation with behavioral intentions to work in supported settings (r =.-40, p = .01), and sheltered settings (r =-.36, p = .03): individuals who perceived themselves as having more severe disabilities showed a greater tendency to choose a workplace with more rehabilitative inputs. Furthermore, women showed a greater tendency than men to perceive their disability as impairing their future intention to work: t (36) = 2.23, p < .05. Beliefs about work were positively associated with normative beliefs (r = .308, p = .06). The findings indicate that, especially with women, perceptions of health are related to occupational preferences. Moreover, the findings indicate that the relationship between subjective norms about work and normative beliefs about integrating in a workplace that prevail in the individual's environment affects occupational preferences. The contribution of the study lies in the development of new responses and interventions to encourage adults with disabilities to work.

Keywords: young adults, disabilities, work preferences, occupational preferences

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1135 The First Japanese-Japanese Dictionary for Non-Japanese Using the Defining Vocabulary

Authors: Minoru Moriguchi

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This research introduces the concept of a monolingual Japanese dictionary for non-native speakers of Japanese, whose temporal title is Dictionary of Contemporary Japanese for Advanced Learners (DCJAL). As the language market is very small compared with English, a monolingual Japanese dictionary for non-native speakers, containing sufficient entries, has not been published yet. In such a dictionary environment, Japanese-language learners are using bilingual dictionaries or monolingual Japanese dictionaries for Japanese people. This research started in 2017, as a project team which consists of four Japanese and two non-native speakers, all of whom are linguists of the Japanese language. The team has been trying to propose the concept of a monolingual dictionary for non-native speakers of Japanese and to provide the entry list, the definition samples, the list of defining vocabulary, and the writing manual. As the result of seven-year research, DCJAL has come to have 28,060 head words, 539 entry examples, 4,598-word defining vocabulary, and the writing manual. First, the number of the entry was determined as about 30,000, based on an experimental method using existing six dictionaries. To make the entry list satisfying this number, words suitable for DCJAL were extracted from the Tsukuba corpus of the Japanese language, and later the entry list was adjusted according to the experience as Japanese instructor. Among the head words of the entry list, 539 words were selected and added with lexicographical information such as proficiency level, pronunciation, writing system (hiragana, katakana, kanji, or alphabet), definition, example sentences, idiomatic expression, synonyms, antonyms, grammatical information, sociolinguistic information, and etymology. While writing the definition of the above 539 words, the list of the defining vocabulary was constructed, based on frequent vocabulary used in a Japanese monolingual dictionary. Although the concept of DCJAL has been almost perfected, it may need some more adjustment, and the research is continued.

Keywords: monolingual dictionary, the Japanese language, non-native speaker of Japanese, defining vocabulary

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1134 Gender and Work-Family Conflict Gaps in Hong Kong: The Impact of Family-Friendly Policies

Authors: Lina Vyas

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Gender gap, unfortunately, is still prevalent in the workplace around the world. In most countries, women are less likely than men to participate in the workplace. They earn considerably less than men for doing the same work and are generally expected to prioritize family obligations over work responsibilities. Women often face more conflicts while balancing the increasingly normalized roles of both worker and mother. True gender equality in the workplace is still a long way off. In Hong Kong, no less is this true. Despite the fact that female students are outnumbered by males at universities, only 55% of women are active participants in the labour market, and for those in the workforce, the gender pay gap is 22%. This structural inequality also exacerbates the issues of confronting biases at work for choosing to be employed as a mother, as well as reinforces the societal expectation of women to be the primary caregiver at home. These pressures are likely to add up for women and contribute to increased levels of work-life conflict, which may be a further barrier for the inclusion of women into the workplace. Family-friendly policies have long been thought to be an alleviator of work-life conflict through helping employees balance the demands in both work and family. Particularly, for women, this could be a facilitator of their integration into the workplace. However, little research has looked at how family-friendly policies may also have a gender differential in effect, as opposed to traditional notions of having universal efficacy. This study investigates both how and how much the gender dimension impacts work-family conflict. In addition to disentangling the reasons for gender gaps existing in work-life conflict for women, this study highlights what can be done at an organizational level to alleviate these conflicts. Most importantly, the policies recommendations derived from this study serve as an avenue for more active participation for women in the workplace and can be considered as a pathway for promoting greater gender egalitarianism and fairness in a traditionally gender-segregated society.

Keywords: family-friendly policies, Hong Kong, work-family conflict, workplace

Procedia PDF Downloads 170
1133 Synthesis of Human Factors Theories and Industry 4.0

Authors: Andrew Couch, Nicholas Loyd, Nathan Tenhundfeld

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The rapid emergence of technology observably induces disruptive effects that carry implications for internal organizational dynamics as well as external market opportunities, strategic pressures, and threats. An examination of the historical tendencies of technology innovation shows that the body of managerial knowledge for addressing such disruption is underdeveloped. Fundamentally speaking, the impacts of innovation are unique and situationally oriented. Hence, the appropriate managerial response becomes a complex function that depends on the nature of the emerging technology, the posturing of internal organizational dynamics, the rate of technological growth, and much more. This research considers a particular case of mismanagement, the BP Texas City Refinery explosion of 2005, that carries notable discrepancies on the basis of human factors principles. Moreover, this research considers the modern technological climate (shaped by Industry 4.0 technologies) and seeks to arrive at an appropriate conceptual lens by which human factors principles and Industry 4.0 may be favorably integrated. In this manner, the careful examination of these phenomena helps to better support the sustainment of human factors principles despite the disruptive impacts that are imparted by technological innovation. In essence, human factors considerations are assessed through the application of principles that stem from usability engineering, the Swiss Cheese Model of accident causation, human-automation interaction, signal detection theory, alarm design, and other factors. Notably, this stream of research supports a broader framework in seeking to guide organizations amid the uncertainties of Industry 4.0 to capture higher levels of adoption, implementation, and transparency.

Keywords: Industry 4.0, human factors engineering, management, case study

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1132 IL6/PI3K/mTOR/GFAP Molecular Pathway Role in COVID-19-Induced Neurodegenerative Autophagy, Impacts and Relatives

Authors: Mohammadjavad Sotoudeheian

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COVID-19, which began in December 2019, uses the angiotensin-converting enzyme 2 (ACE2) receptor to enter and spread through the cells. ACE2 mRNA is present in almost every organ, including nasopharynx, lung, as well as the brain. Ports of entry of SARS-CoV-2 into the central nervous system (CNS) may include arterial circulation, while viremia is remarkable. However, it is imperious to develop neurological symptoms evaluation CSF analysis in patients with COVID-19, but theoretically, ACE2 receptors are expressed in cerebellar cells and may be a target for SARS-CoV-2 infection in the brain. Recent evidence agrees that SARS-CoV-2 can impact the brain through direct and indirect injury. Two biomarkers for CNS injury, glial fibrillary acidic protein (GFAP) and neurofilament light chain (NFL) detected in the plasma of patients with COVID-19. NFL, an axonal protein expressed in neurons, is related to axonal neurodegeneration, and GFAP is over-expressed in CNS inflammation. GFAP cytoplasmic accumulation causes Schwan cells to misfunction, so affects myelin generation, reduces neuroskeletal support over NfLs during CNS inflammation, and leads to axonal degeneration. Interleukin-6 (IL-6), which extensively over-express due to interleukin storm during COVID-19 inflammation, regulates gene expression, as well as GFAP through STAT molecular pathway. IL-6 also impresses the phosphoinositide 3-kinase (PI3K)/STAT/smads pathway. The PI3K/ protein kinase B (Akt) pathway is the main modulator upstream of the mammalian target of rapamycin (mTOR), and alterations in this pathway are common in neurodegenerative diseases. Most neurodegenerative diseases show a disruption of autophagic function and display an abnormal increase in protein aggregation that promotes cellular death. Therefore, induction of autophagy has been recommended as a rational approach to help neurons clear abnormal protein aggregates and survive. The mTOR is a major regulator of the autophagic process and is regulated by cellular stressors. The mTORC1 pathway and mTORC2, as complementary and important elements in mTORC1 signaling, have become relevant in the regulation of the autophagic process and cellular survival through the extracellular signal-regulated kinase (ERK) pathway.

Keywords: mTORC1, COVID-19, PI3K, autophagy, neurodegeneration

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1131 Design and Construction Validation of Pile Performance through High Strain Pile Dynamic Tests for both Contiguous Flight Auger and Drilled Displacement Piles

Authors: S. Pirrello

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Sydney’s booming real estate market has pushed property developers to invest in historically “no-go” areas, which were previously too expensive to develop. These areas are usually near rivers where the sites are underlain by deep alluvial and estuarine sediments. In these ground conditions, conventional bored pile techniques are often not competitive. Contiguous Flight Auger (CFA) and Drilled Displacement (DD) Piles techniques are on the other hand suitable for these ground conditions. This paper deals with the design and construction challenges encountered with these piling techniques for a series of high-rise towers in Sydney’s West. The advantages of DD over CFA piles such as reduced overall spoil with substantial cost savings and achievable rock sockets in medium strength bedrock are discussed. Design performances were assessed with PIGLET. Pile performances are validated in two stages, during constructions with the interpretation of real-time data from the piling rigs’ on-board computer data, and after construction with analyses of results from high strain pile dynamic testing (PDA). Results are then presented and discussed. High Strain testing data are presented as Case Pile Wave Analysis Program (CAPWAP) analyses.

Keywords: contiguous flight auger (CFA) , DEFPIG, case pile wave analysis program (CAPWAP), drilled displacement piles (DD), pile dynamic testing (PDA), PIGLET, PLAXIS, repute, pile performance

Procedia PDF Downloads 279
1130 Underrepresentation of Women in Management Information Systems: Gender Differences in Key Environmental Barriers

Authors: Asli Yagmur Akbulut

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Despite a robust and growing job market and lucrative salaries, there is a global shortage of Information Technology (IT) professionals. To make matters worse, women continue to be underrepresented in the IT workforce and among IT degree holders. In today’s knowledge based economy and society, it is extremely important to increase the presence of women in the IT field. In order to do so, it is necessary to reduce entry barriers and attract more women to pursue degrees in various IT fields including the field of Management Information Systems (MIS). Even though MIS is considered to have a more feminine nature, women still tend to avoid majoring in this field. Unfortunately, there is a lack of research that investigates the specific factors that may deter women from pursuing a degree in MIS. To address this research gap, this study examined a set of key environmental barriers that might prevent women from pursuing an MIS degree and explored whether there were any gender differences between female and male students in terms of these key barriers. Based on a survey of 280 students enrolled in an introductory level MIS course, the study empirically confirmed that there were significant differences between male and female students in terms of the key contextual barriers perceived. Female students demonstrated major concerns about gender discrimination related barriers, whereas male students were more concerned about negative social influences. Both male and female students were equally concerned about not being able to fit in well with other MIS majors. The findings have important implications for MIS programs, as the information gained can be used to design and implement specific intervention strategies to overcome the barriers and attract larger pools of women to the MIS discipline. The paper concludes with a discussion of the findings, implications, and future research directions.

Keywords: gender differences, MIS major, underrepresentation, women in IT

Procedia PDF Downloads 250
1129 Artificial Membrane Comparison for Skin Permeation in Skin PAMPA

Authors: Aurea C. L. Lacerda, Paulo R. H. Moreno, Bruna M. P. Vianna, Cristina H. R. Serra, Airton Martin, André R. Baby, Vladi O. Consiglieri, Telma M. Kaneko

Abstract:

The modified Franz cell is the most widely used model for in vitro permeation studies, however it still presents some disadvantages. Thus, some alternative methods have been developed such as Skin PAMPA, which is a bio- artificial membrane that has been applied for skin penetration estimation of xenobiotics based on HT permeability model consisting. Skin PAMPA greatest advantage is to carry out more tests, in a fast and inexpensive way. The membrane system mimics the stratum corneum characteristics, which is the primary skin barrier. The barrier properties are given by corneocytes embedded in a multilamellar lipid matrix. This layer is the main penetration route through the paracellular permeation pathway and it consists of a mixture of cholesterol, ceramides, and fatty acids as the dominant components. However, there is no consensus on the membrane composition. The objective of this work was to compare the performance among different bio-artificial membranes for studying the permeation in skin PAMPA system. Material and methods: In order to mimetize the lipid composition`s present in the human stratum corneum six membranes were developed. The membrane composition was equimolar mixture of cholesterol, ceramides 1-O-C18:1, C22, and C20, plus fatty acids C20 and C24. The membrane integrity assay was based on the transport of Brilliant Cresyl Blue, which has a low permeability; and Lucifer Yellow with very poor permeability and should effectively be completely rejected. The membrane characterization was performed using Confocal Laser Raman Spectroscopy, using stabilized laser at 785 nm with 10 second integration time and 2 accumulations. The membrane behaviour results on the PAMPA system were statistically evaluated and all of the compositions have shown integrity and permeability. The confocal Raman spectra were obtained in the region of 800-1200 cm-1 that is associated with the C-C stretches of the carbon scaffold from the stratum corneum lipids showed similar pattern for all the membranes. The ceramides, long chain fatty acids and cholesterol in equimolar ratio permitted to obtain lipid mixtures with self-organization capability, similar to that occurring into the stratum corneum. Conclusion: The artificial biological membranes studied for Skin PAMPA showed to be similar and with comparable properties to the stratum corneum.

Keywords: bio-artificial membranes, comparison, confocal Raman, skin PAMPA

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1128 Study on the Post-Traumatic Stress Disorder and Its Psycho-Social-Genetic Risk Factors among Tibetan Alolescents in Heavily-Hit Area Three Years after Yushu Earthquake in Qinghai Province, China

Authors: Xiaolian Jiang, Dongling Liu, Kun Liu

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Aims: To examine the prevalence of POST-TRAUMATIC STRESS DISORDER (PTSD) symptoms among Tibetan adolescents in heavily-hit disaster area three years after Yushu earthquake, and to explore the interactions of the psycho-social-genetic risk factors. Methods: This was a three-stage study. Firstly, demographic variables,PTSD Checklist-Civilian Version (PCL-C),the Internality、Powerful other、Chance Scale,(IPC),Coping Style Scale(CSS),and the Social Support Appraisal(SSA)were used to explore the psychosocial factors of PTSD symptoms among adolescent survivors. PCL-C was used to examine the PTSD symptoms among 4072 Tibetan adolescents,and the Structured Clinical Interview for DSM-IV Disorders(SCID)was used by psychiatrists to make the diagnosis precisely. Secondly,a case-control trial was used to explore the relationship between PTSD and gene polymorphisms. 287adolescents diagnosed with PTSD were recruited in study group, and 280 adolescents without PTSD in control group. Polymerase chain reaction-restriction fragment length polymorphism technology(PCR-RFLP)was used to test gene polymorphisms. Thirdly,SPSS 22.0 was used to explore the interactions of the psycho-social-genetic risk factors of PTSD on the basis of the above results. Results and conclusions: 1.The prevalence of PTSD was 9.70%. 2.The predictive psychosocial factors of PTSD included earthquake exposure, support from others, imagine, abreact, tolerant, powerful others and family support. 3.Synergistic interactions between A1 gene of DRD2 TaqIA and the external locus of control, negative coping style, severe earthquake exposure were found. Antagonism interactions between A1 gene of DRD2 TaqIA and poor social support was found. Synergistic interactions between A1/A1 genotype and the external locus of control, negative coping style were found. Synergistic interactions between 12 gene of 5-HTTVNTR and the external locus of control, negative coping style, severe earthquake exposure were found. Synergistic interactions between 12/12 genotype and the external locus of control, negative coping style, severe earthquake exposure were also found.

Keywords: adolescents, earthquake, PTSD, risk factors

Procedia PDF Downloads 146
1127 Intercultural Intelligence: How to Turn Cultural Difference into a Key Added Value with Tree Lighting Design Project Examples

Authors: Fanny Soulard

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Today work environment is more multicultural than ever: spatial limits have been blown out, encouraging people and ideas mobility all around the globe. Indeed, opportunities to design with culturally diverse team workers, clients, or end-users, have become within everyone's reach. We enjoy traveling to discover other civilizations, but when it comes to business, we often take for granted that our own work methodology will be generic enough to federate each party and cover the project needs. This paper aims to explore why, by skipping cultural awareness, we often create misunderstandings, frustration, and even counterproductive design. Tree lighting projects successively developed by a French lighting studio, a Vietnamese lighting studio, and an Australian Engineering company will be assessed from their concept stage to completion. All these study cases are based in Vietnam, where the construction market is equally led by local and international consultants. Core criteria such as lighting standard reference, service scope, communication tools, internal team organization, delivery package content, key priorities, and client relationship will help to spot and list when and how cultural diversity has impacted the design output and effectiveness. On the second hand, we will demonstrate through the same selected projects how intercultural intelligence tools and mindset can not only respond positively to previous situations and avoid major clashes but also turn cultural differences into a key added value to generate significant benefits for individuals, teams, and companies. By understanding the major importance of including a cultural factor within any design, intercultural intelligence will quickly turn out as a “must have” skill to be developed and acquired by any designer.

Keywords: intercultural intelligence, lighting design, work methodology, multicultural diversity

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1126 International Financial Reporting Standards and the Quality of Banks Financial Statement Information: Evidence from an Emerging Market-Nigeria

Authors: Ugbede Onalo, Mohd Lizam, Ahmad Kaseri, Otache Innocent

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Giving the paucity of studies on IFRS adoption and quality of banks accounting quality, particularly in emerging economies, this study is motivated to investigate whether the Nigeria decision to adopt IFRS beginning from 1 January 2012 is associated with high quality accounting measures. Consistent with prior literatures, this study measure quality of financial statement information using earnings measurement, timeliness of loss recognition and value relevance. A total of twenty Nigeria banks covering a period of six years (2008-2013) divided equally into three years each (2008, 2009, 2010) pre adoption period and (2011, 2012, 2013) post adoption period were investigated. Following prior studies eight models were in all employed to investigate earnings management, timeliness of loss recognition and value relevance of Nigeria bank accounting quality for the different reporting regimes. Results suggest that IFRS adoption is associated with minimal earnings management, timely recognition of losses and high value relevance of accounting information. Summarily, IFRS adoption engenders higher quality of banks financial statement information compared to local GAAP. Hence, this study recommends the global adoption of IFRS and that Nigeria banks should embrace good corporate governance practices.

Keywords: IFRS, SAS, quality of accounting information, earnings measurement, discretionary accruals, non-discretionary accruals, total accruals, Jones model, timeliness of loss recognition, value relevance

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1125 The Extension of the Kano Model by the Concept of Over-Service

Authors: Lou-Hon Sun, Yu-Ming Chiu, Chen-Wei Tao, Chia-Yun Tsai

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It is common practice for many companies to ask employees to provide heart-touching service for customers and to emphasize the attitude of 'customer first'. However, services may not necessarily gain praise, and may actually be considered excessive, if customers do not appreciate such behaviors. In reality, many restaurant businesses try to provide as much service as possible without taking into account whether over-provision may lead to negative customer reception. A survey of 894 people in Britain revealed that 49 percent of respondents consider over-attentive waiters the most annoying aspect of dining out. It can be seen that merely aiming to exceed customers’ expectations without actually addressing their needs, only further distances and dissociates the standard of services from the goals of customer satisfaction itself. Over-service is defined, as 'service provided that exceeds customer expectations, or simply that customers deemed redundant, resulting in negative perception'. It was found that customers’ reactions and complaints concerning over-service are not as intense as those against service failures caused by the inability to meet expectations; consequently, it is more difficult for managers to become aware of the existence of over-service. Thus the ability to manage over-service behaviors is a significant topic for consideration. The Kano model classifies customer preferences into five categories: attractive quality attribute, one-dimensional quality attribute, must-be quality attribute, indifferent quality attribute and reverse quality attributes. The model is still very popular for researchers to explore the quality aspects and customer satisfaction. Nevertheless, several studies indicated that Kano’s model could not fully capture the nature of service quality. The concept of over-service can be used to restructure the model and provide a better understanding of the service quality construct. In this research, the structure of Kano's two-dimensional questionnaire will be used to classify the factors into different dimensions. The same questions will be used in the second questionnaire for identifying the over-service experienced of the respondents. The finding of these two questionnaires will be used to analyze the relevance between service quality classification and over-service behaviors. The subjects of this research are customers of fine dining chain restaurants. Three hundred questionnaires will be issued based on the stratified random sampling method. Items for measurement will be derived from DINESERV scale. The tangible dimension of the questionnaire will be eliminated due to this research is focused on the employee behaviors. Quality attributes of the Kano model are often regarded as an instrument for improving customer satisfaction. The concept of over-service can be used to restructure the model and provide a better understanding of service quality construct. The extension of the Kano model will not only develop a better understanding of customer needs and expectations but also enhance the management of service quality.

Keywords: consumer satisfaction, DINESERV, kano model, over-service

Procedia PDF Downloads 159
1124 Digital Skill Framework Required by Students of Building Technology in Nigerian Higher Institutions

Authors: Shirka Kassam Jwasshaka

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Graduates from higher educational institutions in Nigeria need to leave with the necessary skills to be independent in the emergence work environment. The goal of this study is to develop a framework of digital skills that Nigerian graduates in building construction need to be proficient in various digital skills to comfortably fit into the global advances in a technological labour market. The descriptive survey design was used in this investigation. The study's population consisted of building construction experts selected from different sites within the North Central geographical zones of Nigeria. Using random sampling approaches, 120 seasoned experts were chosen. Three research questions raised by the researchers guided the study. The data was gathered using a 60-item, structured questionnaire. The questions were formulated around three key skill areas such as digital skills related to ICT, digital skills related to general workforce, and basic digital literacy skills that students should have. A building construction specialist validated the questionnaire. Winstep in conjunction with SPSS was used to determine the Cronbach Alpha reliability of the items' internal consistency and person separation,item measure, item fit based on PTMEA CORR, polarity items, misfit items, unidimensionality, and a person-item map. The Cronbach Coefficient reliability of items for the three sub constructs was 0.70. The results showed nearly every sub component within the three areas of digital skills was regarded as significant to be learn by experts. The researchers recommended among other things, that all parties involved in the education sector should work together to develop a curriculum that covers digital skills which can meet employer’s' needs.

Keywords: lifelong learning, digital skill, framework, building technology

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1123 Assessment of OTA Contamination in Rice from Fungal Growth Alterations in a Scenario of Climate Changes

Authors: Carolina S. Monteiro, Eugénia Pinto, Miguel A. Faria, Sara C. Cunha

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Rice (Oryza sativa) production plays a vital role in reducing hunger and poverty and assumes particular importance in low-income and developing countries. Rice is a sensitive plant, and production occurs strictly where suitable temperature and water conditions are found. Climatic changes are likely to affect worldwide, and some models have predicted increased temperatures, variations in atmospheric CO₂ concentrations and modification in precipitation patterns. Therefore, the ongoing climatic changes threaten rice production by increasing biotic and abiotic stress factors, and crops will grow in different environmental conditions in the following years. Around the world, the effects will be regional and can be detrimental or advantageous depending on the region. Mediterranean zones have been identified as possible hot spots, where dramatic temperature changes, modifications of CO₂ levels, and rainfall patterns are predicted. The actual estimated atmospheric CO₂ concentration is around 400 ppm, and it is predicted that it can reach up to 1000–1200 ppm, which can lead to a temperature increase of 2–4 °C. Alongside, rainfall patterns are also expected to change, with more extreme wet/dry episodes taking place. As a result, it could increase the migration of pathogens, and a shift in the occurrence of mycotoxins, concerning their types and concentrations, is expected. Mycotoxigenic spoilage fungi can colonize the crops and be present in all rice food chain supplies, especially Penicillium species, mainly resulting in ochratoxin A (OTA) contamination. In this scenario, the objectives of the present study are evaluating the effect of temperature (20 vs. 25 °C), CO₂ (400 vs. 1000 ppm), and water stress (0.93 vs 0.95 water activity) on growth and OTA production by a Penicillium nordicum strain in vitro on rice-based media and when colonizing layers of raw rice. Results demonstrate the effect of temperature, CO₂ and drought on the OTA production in a rice-based environment, thus contributing to the development of mycotoxins predictive models in climate change scenarios. As a result, improving mycotoxins' surveillance and monitoring systems, whose occurrence can be more frequent due to climatic changes, seems relevant and necessary. The development of prediction models for hazard contaminants presents in foods highly sensitive to climatic changes, such as mycotoxins, in the highly probable new agricultural scenarios is of paramount importance.

Keywords: climate changes, ochratoxin A, penicillium, rice

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1122 Borrower Discouragement in Spain: An Empirical Analysis Using a Survey Data Set

Authors: Ginés Hernández-Cánovas, Mª Camino Ramón-Llorens, Johanna Koëter-Kant

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This paper uses a survey data-set of 837 Spanish SMEs to analyze the association between borrower discouragement and prior firm´s strategic decisions, while controlling for firm and owner characteristics. While existing literature has neglected factors limiting the demand for resources by an overreliance on arguments which attempt to explain the existence of discouraged borrowers solely in terms of lack of access to supply of credit. The objective of this paper is to show that factors limiting the demand for resources and, therefore, reducing the availability of funds, can be traced back to the firm manager´s decision. Our hypothesis is that managers that undertake strategic decisions seeking growth or improvement in their business performance participate more in the banking market than those showing contentment with their current business situation. Our results shows that SMEs that undertake an active role in research and development activities and that achieve improvements in the operating performance of their business are less likely to be discouraged from applying for a loan. Who needs credit and who applies for credit is important for firms, prospective lenders and policymakers interested in the financial health of these firms. Credit constrained firms are less likely to invest in R&D and to introduce new products, possibly harming long-term economic growth. Knowing how important borrower discouragement is in Europe, is important for judging the priority which should be attached to government policies aimed at reducing its effects. For example, policy makers could encourage the transparency about credit eligibility and conditions in order to reduce discouragement.

Keywords: discouragement, financial constraints, SMEs financing

Procedia PDF Downloads 351
1121 Pressure Sensitive v/s Pressure Resistance Institutional Investors towards Socially Responsible Investment Behavior: Evidence from Malaysia

Authors: Mohammad Talha, Abdullah Sallehhuddin Abdullah Salim, Abdul Aziz Abdul Jalil, Norzarina Md Yatim

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The significant contribution of institutional investors across the globe in socially responsible investment (SRI) is well-documented in the literature. Nevertheless, how the SRI behavior of pressure-resistant, pressure-sensitive and pressure-indeterminate institutional investors remain unexplored extensively. This study examines the moderating effect of institutional investors towards socially responsible investment behavior in the context of emerging economies. This study involved 229 institutional investors in Malaysia. A total of 1,145 questionnaires were distributed. Out of these, 308 (130 pressure sensitive institutional investors and 178 pressure resistant institutional investors), representing a usable rate of 26.9 per cent, were found fit for data analysis. Utilizing multi-group analysis via AMOS, this study found evidence for the presence of moderating effect by a type of institutional investor topology in socially responsible investment behavior. At intentional level, it established that type of institutional investor was a significant moderator in the relationship between subjective norms, and caring ethical climate with intention among pressure-resistant institutional investors, as well as between perceived behavioral controls with intention among pressure-sensitive institutional investors. At the behavioral level, the results evidenced that there was only a significant moderating effect between intention and socially responsible investment behavior among pressure-resistant institutional investors. The outcomes are expected to benefit policy makers, regulators, and market participants in order to leap forward SRI growth in developing economies. Nevertheless, the outcomes are limited to a few factors, and it is believed that future studies shall address those limitations.

Keywords: socially responsible investment, behavior, pressure sensitive investors, pressure insensitive investors, Institutional Investment Malaysia

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1120 The Effect of Partially Replacing Cement with Metakaolin on the Properties of Concrete

Authors: Gashaw Abebaw

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Concrete usage in Ethiopia is expanding at a faster rate than before. Cement is the most important and costly ingredient in this respect. The construction industry is currently challenged by cement scarcity and stock market inflation. Scholars' trays, on the other hand, will use natural pozzolan material to substitute cement. Apart from that, Metakaolin has pozzolanic characteristics. According to the industrial mineral occurrence map, Ethiopia kaolin may be found in abundance. Some of them include Debretabor, so it is good to utilize Metakaolin as cement replacement material. In this study, the capability of Ethiopian Metakaolin as a partial substitute for cement in C-25 concrete production with 0%, 5%, 10%, 15%, and 20% replacement of PPC by MA with 0.49 percent water to cement ratio is investigated. The study examines; the chemical properties of MA, Physical properties of cement paste, workability, compressive strength, water absorption, density and sulfate attack of concrete was investigated. The chemical composition of Metakaolin was examined and the summation of SiO₂, AlO₃, and FeO₃ is 86.25% and the ash was classified class N pozzolan. The normal consistency percent of water increases as the MA replacement amount increase and both initial and final setting time rang increase as the MA replacement amount increase. On the 28th day, the compressive strength of concrete with MA replacement of 5%, 10%, and 15% exceeds the goal mean strength (33.5Mpa) with compressive strength enhancements of 2.23 %, 4.05 %, and 2.23 %, respectively. Similarly, on the 56th day, 5 %, 10%, and 15% replacement enhance concrete strength by 2.06 %, 3.06 %, and 1.2 %, respectively. The MA mixed concrete has improved significantly in terms of water absorption and sulphate attack, with a 15% replacement level. MA content Metakaolin could possibly replace cement up to 15%, according to the studies. The study's findings will help to offset cement price increases while also boosting house affordability without significantly degrading.

Keywords: metakaolin, compressive strength, sulphate attack, water absorption, N pozzolan

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1119 Digital Platforms: Creating Value through Network Effects under Pandemic Conditions

Authors: S. Łęgowik-Świącik

Abstract:

This article is a contribution to the research into the determinants of value creation via digital platforms in variable operating conditions. The dynamics of the market environment caused by the COVID-19 pandemic have made enterprises built on digital platforms financially successful. While many classic companies are struggling with the uncertainty of conducting a business and difficulties in the process of value creation, digital platforms create value by modifying the existing business model to meet the changing needs of customers. Therefore, the objective of this publication is to understand and explain the relationship between value creation and the conversion of the business model built on digital platforms under pandemic conditions. The considerations relating to the conceptual framework and determining the research objective allowed for adopting the hypothesis, assuming that the processes of value creation are evolving, and the measurement of these processes allows for the protection of value created and enables its growth in changing circumstances. The research methods, such as critical literature analysis and case study, were applied to accomplish the objective pursued and verify the hypothesis formulated. The empirical research was carried out based on the data from enterprises listed on the Nasdaq Stock Exchange: Amazon, Alibaba, and Facebook. The research period was the years 2018-2021. The surveyed enterprises were chosen based on the targeted selection. The problem discussed is important and current since the lack of in-depth theoretical research results in few attempts to identify the determinants of value creation via digital platforms. The above arguments led to an attempt at theoretical analysis and empirical research to fill in the gap perceived by deepening the understanding of the process of value creation through network effects via digital platforms under pandemic conditions.

Keywords: business model, digital platforms, enterprise management, pandemic conditions, value creation process

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1118 Manufacturing of Race Car Case Study AGH Racing

Authors: Hanna Faron, Wojciech Marcinkowski, Daniel Prusak

Abstract:

The aim of this article is to familiarize with the activity of AGH Racing scientific circle, pertaining to the international project -Formula Student, giving the opportunity to young engineers from all around the world to validate their talent and knowledge in the real world conditions, under the pressure of time, and the design requirements. Every year, the team begins the process of building a race car from the formation of human resources. In case of the public sector, to which public universities can be included, the scientific circles represent the structure uniting students with the common interests and level of determination. Due to the scientific nature of the project which simulates the market conditions, they have a chance to verify previously acquired knowledge in practice. High level of the innovation and competitiveness of participating in the project Formula Student teams, requires an intelligent organizational system, which is characterized by a high dynamics. It is connected with the necessity of separation of duties, setting priorities, selecting optimal solutions which is often a compromise between the available technology and a limited budget. Proper selection of the adequate guidelines in the design phase allows an efficient transition to the implementation stage, which is process-oriented implementation of the project. Four dynamic and three static competitions are the main verification and evaluation of year-round work and effort put into the process of building a race car. Acquired feedback flowing during the race is a very important part while monitoring the effectiveness of AGH Racing scientific circle, as well as the main criterion while determining long-term goals and all the necessary improvements in the team.

Keywords: SAE, formula student, race car, public sector, automotive industry

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1117 Molecular Epidemiology of Egyptian Biomphalaria Snail: The Identification of Species, Diagnostic of the Parasite in Snails and Host Parasite Relationship

Authors: Hanaa M. Abu El Einin, Ahmed T. Sharaf El- Din

Abstract:

Biomphalaria snails play an integral role in the transmission of Schistosoma mansoni, the causative agent for human schistosomiasis. Two species of Biomphalaria were reported from Egypt, Biomphalaria alexandrina and Biomphalaria glabrata, and later on a hybrid of B. alexandrina and B. glabrata was reported in streams at Nile Delta. All were known to be excellent hosts of S. mansoni. Host-parasite relationship can be viewed in terms of snail susceptibility and parasite infectivity. The objective of this study will highlight the progress that has been made in using molecular approaches to describe the correct identification of snail species that participating in transmission of schistosomiasis, rapid diagnose of infection in addition to susceptibility and resistance type. Snails were identified using of molecular methods involving Randomly Amplified Polymorphic DNA (RAPD), Polymerase Chain Reaction, Restriction Fragment Length Polymorphisms (PCR-RFLP) and Species - specific- PCR. Molecular approaches to diagnose parasite in snails from Egypt: Nested PCR assay and small subunit (SSU) rRNA gene. Also RAPD PCR for study susceptible and resistance phenotype. The results showed that RAPD- PCR, PCR-RFLP and species-specific-PCR techniques were confirmed that: no evidence for the presence of B. glabrata in Egypt, All Biomphalaria snails collected identified as B. alexandrina snail i-e B alexandrinia is a common and no evidence for hybridization with B. glabrata. The adopted specific nested PCR assay revealed much higher sensitivity which enables the detection of S. mansoni infected snails down to 3 days post infection. Nested PCR method for detection of infected snails using S. mansoni fructose -1,6- bisphosphate aldolase (SMALDO) primer, these primers are specific only for S. mansoni and not cross reactive with other schistosomes or molluscan aldolases Nested PCR for such gene is sensitive enough to detect one cercariae. Genetic variations between B. alexandrina strains that are susceptible and resistant to Schistosoma infec¬tion using a RAPD-PCR showed that 39.8% of the examined snails collected from the field were resistant, while 60.2% of these snails showed high infection rates. In conclusion the genetics of the intermediate host plays a more important role in the epidemiological control of schistosomiasis.

Keywords: biomphalaria, molecular differentiation, parasite detection, schistosomiasis

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1116 Pediatricians as a Key Channel of Influence for Infant Formula Purchases

Authors: Matthew Heidman, Susan Dallabrida, Analice Costa

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For infant caregivers, choosing an infant formula for their child can be a difficult task in an already stressful environment of caring for a newborn. There exist several channels that influence purchasing decision of infant formula such as, friends and family and their experiences, health care professionals, social media influencers, as well as standard media marketing. This study sought to identify the key channels by which caregivers obtain information regarding infant formula and help them make their purchasing decision. A digital survey was issued for 90 days in the US (n=121) and 30 days in Mexico (n=88) targeting respondents with children ≤4 years of age. Respondents were asked two key questions regarding the influences on their purchasing decisions: 1) “When choosing a formula brand, what do you do to help you make your decision?”, and 2) “When choosing a formula brand, what is most important to you?”. A list of potential answers was provided for each question and respondents were asked to select all that apply to them. Lastly, respondents were provided a 5-point Likert scale and asked to respond to the statement 3) “I am more likely to buy a particular formula brand if my pediatrician recommends it to me”. For question 1, in the US and Mexico, 76% and 95% of respondents respectively, selected “I ask my pediatrician” which represented the top selection. For question 2, 52% and 45% of respondents respectively, selected “On package “Pediatrician Recommended” claim…” which also represented the top selection. For statement 3, 82% and 89% of respondents respectively, stated that they either “somewhat agree” or “strongly agree” with the statement. For infant caregivers, the pediatrician is a very important channel of influence when it comes to purchasing decision of infant formula. Caregivers clearly see the pediatrician as the arbiter of their child’s nutrition and seek their recommendations for infant formula use. For infant formula manufacturers, it is important that they see the pediatrician as the gatekeeper to this market, and they put resources into medical marketing communication to this health care professional group to ensure success.

Keywords: infant formula, pediatrician, purchasing driver, caregiver

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1115 Nanostructured Multi-Responsive Coatings for Tuning Surface Properties

Authors: Suzanne Giasson, Alberto Guerron

Abstract:

Stimuli-responsive polymer coatings can be used as functional elements in nanotechnologies, such as valves in microfluidic devices, as membranes in biomedical engineering, as substrates for the culture of biological tissues or in developing nanomaterials for targeted therapies in different diseases. However, such coatings usually suffer from major shortcomings, such as a lack of selectivity and poor environmental stability. The study will present multi-responsive hierarchical and hybrid polymer-based coatings aiming to overcome some of these limitations. Hierarchical polymer coatings, consisting of two-dimensional arrays of thermo-responsive cationic PNIPAM-based microgels and surface-functionalized with non-responsive or pH-responsive polymers, were covalently grafted to substrates to tune the surface chemistry and the elasticity of the surface independently using different stimuli. The characteristic dimensions (i.e., layer thickness) and surface properties (i.e., adhesion, friction) of the microgel coatings were assessed using the Surface Forces Apparatus. The ability to independently control the swelling and surface properties using temperature and pH as triggers were investigated for microgels in aqueous suspension and microgels immobilized on substrates. Polymer chain grafting did not impede the ability of cationic PNIPAM microgels to undergo a volume phase transition above the VPTT, either in suspension or immobilized on a substrate. Due to the presence of amino groups throughout the entirety of the microgel polymer network, the swelling behavior was also pH dependent. However, the thermo-responsive swelling was more significant than the pH-triggered one. The microgels functionalized with PEG exhibited the most promising behavior. Indeed, the thermo-triggered swelling of microgel-co-PEG did not give rise to changes in the microgel surface properties (i.e., surface potential and adhesion) within a wide range of pH values. It was possible for the immobilized microgel-co-PEG to undergo a volume transition (swelling/shrinking) with no change in adhesion, suggesting that the surface of the thermal-responsive microgels remains rather hydrophilic above the VPTT. This work confirms the possibility of tuning the swelling behavior of microgels without changing the adhesive properties. Responsive surfaces whose swelling properties can be reversibly and externally altered over space and time regardless of the surface chemistry are very innovative and will enable revolutionary advances in technologies, particularly in biomedical surface engineering and microfluidics, where advanced assembly of functional components is increasingly required.

Keywords: responsive materials, polymers, surfaces, cell culture

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1114 Examining Diversity, Equity, and Inclusion in New Media Strategies within Contemporary Marketing Communication

Authors: Namirimu Beatrice Doreen

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In recent years, there has been growing recognition of the importance of diversity, equity, and inclusion (DEI) in advertising, driven in part by the increasing diversity of society and the expanding reach of new media platforms. As marketers grapple with the challenge of creating campaigns that resonate with a wide range of audiences, the role of new media adoption emerges as a critical, independent variable shaping the landscape of DEI in advertising. This paper delves into the evolving dynamics of DEI in advertising, examining the multifaceted challenges and opportunities encountered by brands in their pursuit of more inclusive marketing strategies. Drawing on theoretical frameworks from marketing, sociology, and communication studies, this paper explores the intricate interplay between DEI initiatives and their impact on consumer perceptions, brand reputation, and market performance. The analysis considers how new media adoption influences the effectiveness and reach of DEI initiatives as brands leverage digital platforms to engage with diverse audiences in innovative ways. Through insightful case studies, this paper illustrates best practices and identifies areas for improvement in the realm of inclusive advertising, shedding light on the practical implications of DEI principles for marketers. By synthesizing insights from academia and industry, this paper offers actionable recommendations for marketers seeking to navigate the complexities of DEI in their advertising strategies. By embracing DEI principles and harnessing the power of new media platforms, brands can foster a more equitable and inclusive advertising landscape, ultimately enhancing their connections with diverse audiences and driving positive social change.

Keywords: diversity, equity, inclusion, new media, contemporary marketing communication

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1113 The Impact of Culture on Tourists’ Evaluation of Hotel Service Experiences

Authors: Eid Alotaibi

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The purpose of this study is to investigate the impact of tourists’ culture on perception and evaluation of hotel service experience and behavioral intentions. Drawing on Hofested’s cultural dimensions, this study seeks to further contribute towards understanding the effect of culture on perception and evaluation of hotels’ services, and whether there are differences between Saudi and European tourists’ perceptions of hotel services evaluation. A descriptive cross-sectional design was used in this study. Data were collected from tourists staying in five-star hotels in Saudi Arabia using the self-completion technique. The findings show that evaluations of hotel services differ from one culture to another. T-test results reveal that Saudis were more tolerant and reported significantly higher levels of satisfaction, were more likely to return and recommend the hotel, and perceived the price for the hotel stay as being good value for money as compared to their European counterparts. The sample was relatively small and specific to only five-star hotel evaluations. As a result, findings cannot be generalized to the wider tourist population. The results of this research have important implications for management within the Saudi hospitality industry. The study contributes to the tourist cultural theory by emphasizing the relative importance of cultural dimensions in-service evaluation. The author argues that no studies could be identified that compare Saudis and Europeans in their evaluations of their experiences staying at hotels. Therefore, the current study would enhance understanding of the effects of cultural factors on service evaluations and provide valuable input for international market segmentation and resource allocation in the Saudi hotel industry.

Keywords: culture, tourist, service experience, hotel industry, Hofested’s cultural dimensions

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1112 Overcoming Open Innovation Challenges with Technology Intelligence: Case of Medium-Sized Enterprises

Authors: Akhatjon Nasullaev, Raffaella Manzini, Vincent Frigant

Abstract:

The prior research largely discussed open innovation practices both in large and small and medium-sized enterprises (SMEs). Open Innovation compels firms to observe and analyze the external environment in order to tap new opportunities for inbound and/or outbound flows of knowledge, ideas, work in progress innovations. As SMEs are different from their larger counterparts, they face several limitations in utilizing open innovation activities, such as resource scarcity, unstructured innovation processes and underdeveloped innovation capabilities. Technology intelligence – the process of systematic acquisition, assessment and communication of information about technological trends, opportunities and threats can mitigate this limitation by enabling SMEs to identify technological and market opportunities in timely manner and undertake sound decisions, as well as to realize a ‘first mover advantage’. Several studies highlighted firm-level barriers to successful implementation of open innovation practices in SMEs, namely challenges in partner selection, intellectual property rights and trust, absorptive capacity. This paper aims to investigate the question how technology intelligence can be useful for SMEs to overcome the barriers to effective open innovation. For this, we conduct a case study in four Estonian life-sciences SMEs. Our findings revealed that technology intelligence can support SMEs not only in inbound open innovation (taking into account inclination of most firms toward technology exploration aspects of open innovation) but also outbound open innovation. Furthermore, the results of this study state that, although SMEs conduct technology intelligence in unsystematic and uncoordinated manner, it helped them to increase their innovative performance.

Keywords: technology intelligence, open innovation, SMEs, life sciences

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1111 Evaluation of Digital Marketing Strategies by Behavioral Economics

Authors: Sajjad Esmaeili Aghdam

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Economics typically conceptualizes individual behavior as the consequence of external states, for example, budgets and prices (or respective beliefs) and choices. As the main goal, we focus on the influence of a range of Behavioral Economics factors on Strategies of Digital Marketing, evaluation of strategies and deformation of it into highly prospective marketing strategies. The different forms of behavioral prospects all lead to the succeeding two main results. First, the steadiness of the economic dynamics in a currency union be contingent fatefully on the level of economic incorporation. More economic incorporation leads to more steady economic dynamics. Electronic word-of-mouth (eWOM) is “all casual communications focused at consumers through Internet-based technology connected to the usage or characteristics of specific properties and services or their venders.” eWOM can take many methods, the most significant one being online analyses. Writing this paper, 72 articles have been gathered, focusing on the title and the aim of the article from research search engines like Google Scholar, Web of Science, and PubMed. Recent research in strategic management and marketing proposes that markets should not be viewed as a given and deterministic setting, exogenous to the firm. Instead, firms are progressively abstracted as dynamic inventors of market prospects. The use of new technologies touches all spheres of the modern lifestyle. Social and economic life becomes unbearable without fast, applicable, first-class and fitting material. Psychology and economics (together known as behavioral economics) are two protruding disciplines underlying many theories in marketing. The wide marketing works papers consumers’ none balanced behavior even though behavioral biases might not continuously be steadily called or officially labeled.

Keywords: behavioral economics, digital marketing, marketing strategy, high impact strategies

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1110 Selection of Suitable Reference Genes for Assessing Endurance Related Traits in a Native Pony Breed of Zanskar at High Altitude

Authors: Prince Vivek, Vijay K. Bharti, Manishi Mukesh, Ankita Sharma, Om Prakash Chaurasia, Bhuvnesh Kumar

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High performance of endurance in equid requires adaptive changes involving physio-biochemical, and molecular responses in an attempt to regain homeostasis. We hypothesized that the identification of the suitable reference genes might be considered for assessing of endurance related traits in pony at high altitude and may ensure for individuals struggling to potent endurance trait in ponies at high altitude. A total of 12 mares of ponies, Zanskar breed, were divided into three groups, group-A (without load), group-B, (60 Kg) and group-C (80 Kg) on backpack loads were subjected to a load carry protocol, on a steep climb of 4 km uphill, and of gravel, uneven rocky surface track at an altitude of 3292 m to 3500 m (endpoint). Blood was collected before and immediately after the load carry on sodium heparin anticoagulant, and the peripheral blood mononuclear cell was separated for total RNA isolation and thereafter cDNA synthesis. Real time-PCR reactions were carried out to evaluate the mRNAs expression profile of a panel of putative internal control genes (ICGs), related to different functional classes, namely glyceraldehyde 3-phosphate dehydrogenase (GAPDH), β₂ microglobulin (β₂M), β-actin (ACTB), ribosomal protein 18 (RS18), hypoxanthine-guanine phosophoribosyltransferase (HPRT), ubiquitin B (UBB), ribosomal protein L32 (RPL32), transferrin receptor protein (TFRC), succinate dehydrogenase complex subunit A (SDHA) for normalizing the real-time quantitative polymerase chain reaction (qPCR) data of native pony’s. Three different algorithms, geNorm, NormFinder, and BestKeeper software, were used to evaluate the stability of reference genes. The result showed that GAPDH was best stable gene and stability value for the best combination of two genes was observed TFRC and β₂M. In conclusion, the geometric mean of GAPDH, TFRC and β₂M might be used for accurate normalization of transcriptional data for assessing endurance related traits in Zanskar ponies during load carrying.

Keywords: endurance exercise, ubiquitin B (UBB), β₂ microglobulin (β₂M), high altitude, Zanskar ponies, reference gene

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1109 Fast Track to the Physical Internet: A Cross-Industry Project from Upper Austria

Authors: Laura Simmer, Maria Kalt, Oliver Schauer

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Freight transport is growing fast, but many vehicles are empty or just partially loaded. The vision and concepts of the Physical Internet (PI) proposes to eliminate these inefficiencies. Aiming for a radical sustainability improvement, the PI – inspired by the Digital Internet – is a hyperconnected global logistic system, enabling seamless asset sharing and flow consolidation. The implementation of a PI in its full expression will be a huge challenge: the industry needs innovation and implementation support including change management approaches, awareness creation and good practices diffusion, legislative actions to remove antitrust and international commerce barriers, standardization and public incentives policies. In order to take a step closer to this future the project ‘Atropine - Fast Track to the Physical Internet’ funded under the Strategic Economic and Research Program ‘Innovative Upper Austria 2020’ was set up. The two-year research project unites several research partners in this field, but also industrial partners and logistics service providers. With Atropine, the consortium wants to actively shape the mobility landscape in Upper Austria and make an innovative contribution to an energy-efficient, environmentally sound and sustainable development in the transport area. This paper should, on the one hand, clarify the questions what the project Atropine is about and, on the other hand, how a proof of concept will be reached. Awareness building plays an important role in the project as the PI requires a reorganization of the supply chain and the design of completely new forms of inter-company co-operation. New business models have to be developed and should be verified by simulation. After the simulation process one of these business models will be chosen and tested in real life with the partner companies. The developed results - simulation model and demonstrator - are used to determine how the concept of the PI can be applied in Upper Austria. Atropine shall pave the way for a full-scale development of the PI vision in the next few decades and provide the basis for pushing the industry toward a new level of co-operation with more shared resources and increased standardization.

Keywords: Atropine, inter-company co-operation, Physical Internet, shared resources, sustainable logistics

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1108 Extent of Derivative Usage, Firm Value and Risk: An Empirical Study on Pakistan Non-Financial Firms

Authors: Atia Alam

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Growing liberalisation and intense market competition increase firm’s risk exposure and induce corporations to use derivatives extensively as a risk management instrument, which results in decrease in firm’s risk, and increase in value. Present study contributes towards existing literature by providing an in-depth analysis regarding the effect of extent of derivative usage on firm’s risk and value by using panel data models and seemingly unrelated regression technique. New evidence is established in current literature by dividing the sample data based on firm’s Exchange Rate (ER) and Interest Rate (IR) exposure. Analysis is performed for the effect of extent of derivative usage on firm’s risk and value and its variation with respect to the ER and IR exposure. Sample data consists of 166 Pakistani firms listed on Pakistan stock exchange for the period of 2004-2010. Results show that extensive usage of derivative instruments significantly increases firm value and reduces firm’s risk. Furthermore, comprehensive analysis depicts that Pakistani corporations having higher exchange rate exposure, with respect to foreign sales, and higher interest rate exposure, on the basis of industry adjusted leverage, have higher firm value and lower risk. Findings from seemingly unrelated regression also provide robustness to results obtained through panel data analysis. Study also highlights the role of derivative usage as a risk management instrument in high and low ER and IR risk and helps practitioners in understanding how value increasing effect of extent of derivative usage varies with the intensity of firm’s risk exposure.

Keywords: extent of derivative usage, firm value, risk, Pakistan, non-financial firms

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1107 Weal: The Human Core of Well-Being as Attested by Social and Life Sciences

Authors: Gyorgy Folk

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A finite set of cardinal needs define the human core of living well shaped on the evolutionary time scale as attested by social and life sciences of the last decades. Well-being is the purported state of living well. Living of humans akin any other living beings involves the exchange of vital substance with nature, maintaining a supportive symbiosis with an array of other living beings, living up to bonds to kin and exerting efforts to sustain living. A supportive natural environment, access to material resources, the nearness to fellow beings, and life sustaining activity are prerequisites of well-being. Well-living is prone to misinterpretation as an individual achievement, one lives well only and only if bonded to human relationships, related to a place, incorporated in nature. Akin all other forms of it, human life is a self-sustaining arrangement. One may say that the substance of life is life, and not materials, products, and services converted into life. The human being remains shaped on an evolutionary time scale and is enabled within the non-altering core of human being, invariant of cultural differences in earthly space and time. Present paper proposes the introduction of weal, the missing link in the causal chain of societal performance and the goodness of life. Interpreted differently over the ages, cultures and disciplines, instead of well-being, the construct in general use, weal is proposed as the underlying foundation of well-being. Weal stands for the totality of socialised reality as framing well-being for the individual beyond the possibility of deliberate choice. The descriptive approach to weal, mapping it under the guidance of discrete scientific disciplines reveals a limited set of cardinal aspects, labeled here the cardinal needs. Cardinal expresses the fundamental reorientation weal can bring about, needs deliver the sense of sine qua non. Weal is conceived as a oneness mapped along eight cardinal needs. The needs, approached as aspects instead of analytically isolated factors do not require mutually exclusive definitions. To serve the purpose of reorientation, weal is operationalised as a domain in multidimensional space, each dimension encompassing an optimal level of availability of the fundamental satisfiers between the extremes of drastic insufficiency and harmful excess, ensured by actual human effort. Weal seeks balance among the material and social aspects of human being while allows for cultural and individual uniqueness in attaining human flourishing.

Keywords: human well-being, development, economic theory, human needs

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