Search results for: financial stability

Authors: Sriram Kashyap Prasad, Ionut Florescu

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This study models the intraday asset prices as driven by Markov process. This work identifies the latent states of the Hidden Markov model, using limit order book data (trades and quotes) to continuously estimate the states throughout the day. This work builds a trading strategy using estimated states to generate signals. The strategy utilizes current state to recalibrate buy/ sell levels and the transition between states to trigger stop-loss when adverse price movements occur. The proposed trading strategy is tested on the Stevens High Frequency Trading (SHIFT) platform. SHIFT is a highly realistic market simulator with functionalities for creating an artificial market simulation by deploying agents, trading strategies, distributing initial wealth, etc. In the implementation several assets on the NASDAQ exchange are used for testing. In comparison to a strategy with static buy/ sell levels, this study shows that the number of limit orders that get matched and executed can be increased. Executing limit orders earns rebates on NASDAQ. The system can capture jumps in the limit order book prices, provide dynamic buy/sell levels and trigger stop loss signals to improve the PnL (Profit and Loss) performance of the strategy.

Keywords: algorithmic trading, Hidden Markov model, high frequency trading, limit order book learning

Procedia PDF Downloads 137

Authors: Po-Fang Hsu, Chiching Wei

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In this paper, we present a novel neural graph matching approach applied to document comparison. Document comparison is a common task in the legal and financial industries. In some cases, the most important differences may be the addition or omission of words, sentences, clauses, or paragraphs. However, it is a challenging task without recording or tracing the whole edited process. Under many temporal uncertainties, we explore the potentiality of our approach to proximate the accurate comparison to make sure which element blocks have a relation of edition with others. In the beginning, we apply a document layout analysis that combines traditional and modern technics to segment layouts in blocks of various types appropriately. Then we transform this issue into a problem of layout graph matching with textual awareness. Regarding graph matching, it is a long-studied problem with a broad range of applications. However, different from previous works focusing on visual images or structural layout, we also bring textual features into our model for adapting this domain. Specifically, based on the electronic document, we introduce an encoder to deal with the visual presentation decoding from PDF. Additionally, because the modifications can cause the inconsistency of document layout analysis between modified documents and the blocks can be merged and split, Sinkhorn divergence is adopted in our neural graph approach, which tries to overcome both these issues with many-to-many block matching. We demonstrate this on two categories of layouts, as follows., legal agreement and scientific articles, collected from our real-case datasets.

Keywords: document comparison, graph matching, graph neural network, modification similarity, multi-modal

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Authors: Irsanti Hasyim, Christian Wibisono, Angela Teressia

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Social enterprises, as one of the way of doing business are on the rise and emerging from the innovations of decades of social initiatives. In simple way, social enterprises use the business platform to achieve social and/or environmental objectives whilst simultaneously seeking a financial return. In Indonesia, the number of social enterprises rapidly grows and most of them were using social media as their business platform. Social Media are perceived as tools for creating online communities of users who share interests, activities, and objectives. Many companies view the use of online communities in social media as a profitable marketing tool from which they can derive several benefits. Through social media, consumers share experiences with and suggest ideas to others while developing new relationships within their communities. Therefore, this study intends to identify the benefits that participants in online communities seek and examine the relationships between members’ levels of participation, brand trust, and brand commitment. Using convenience sampling method, 236 fully answered questioner was collected and used as a sample of this research. The sample of this research consisted of member or follower in several social media from selected social enterprise in Indonesia. Data collected in this research were process by using Partial Least Square and came up with the result that functional benefit and monetary benefit, are only two from five benefits that proposed were the only variable that has significant result even though from APC, ARS and AARS outcomes show that the model can be claimed to be significant.

Keywords: brand trust, brand commitment, social enterprise, social media

Procedia PDF Downloads 216

Authors: Felib Ayman Shawky Salem

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Nowadays crypto currency has become a global phenomenon known to most people. People using this alternative digital money to do a transaction in many ways (e.g. Used for online shopping, wealth management, and fundraising). However, this digital asset also widely used in criminal activities since its use decentralized control as opposed to centralized electronic money and central banking systems and this makes a user, who used this currency invisible. The high-value exchange of these digital currencies also has been a target to criminal activities. The crypto currency crimes have become a challenge for the law enforcement to analyze and to proof the evidence as criminal devices. In this paper, our focus is more on bitcoin crypto currency and the possible artifacts that can be obtained from the different type of digital wallet, which is software and browser-based application. The process memory and physical hard disk are examined with the aims of identifying and recovering potential digital evidence. The stage of data acquisition divided by three states which are the initial creation of the wallet, transaction that consists transfer and receiving a coin and the last state is after the wallet is being deleted. Findings from this study suggest that both data from software and browser type of wallet process memory is a valuable source of evidence, and many of the artifacts found in process memory are also available from the application and wallet files on the client computer storage.

Keywords: cryptocurrency, bitcoin, payment methods, blockchain, appropriation, online retailers, TOE framework, disappropriation, non-appropriationBitCoin, financial protection, crypto currency, money laundering cryptocurrency, digital wallet, digital forensics

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Authors: Saira Mehnaz, Ali Jafar Abedi, Shazia Farooq Fazli, Sakeena Mushfiq, Zulfia Khan, M. Athar Ansari

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Introduction: Public health spending is a necessity in an underdeveloped country like India. The people are already suffering from poverty and that clubbed with out of pocket expenditure leads them to a very catastrophic situation, reducing the overall access to healthcare. Objectives: This study was designed to determine the usual source of medical care opted, the illness pattern, the expenditure incurred on illness and its source of procurement by the study population. It also intended to assess this expenditure as a determinant of access to health care. Methodology: Cities like Aligarh, which are classified as B grade cities in India are thought to be ripe sites for getting livelihood and hence are almost half filled with migrants living in urban slums. A cross sectional study was done to study the newer slum pockets. 3409 households with a population of 16,978 were studied with the help of pretested questionnaire; SPSS 20 was used for statistical analysis. Results and Conclusions: In our study, we found that almost all the households suffered from catastrophic health expenditure. The study population, which was already vulnerable owing to their low socio-economic and migrant status was further being forced with into poverty and indebtedness on account of expenditure on illness. This lead to a significant decrease in access to health. National health financing systems should be designed to protect households from financial catastrophe, by reducing out-of-pocket spending.

Keywords: access to healthcare, catastrophic health expenditure, new urban slums, out of pocket expenditure

Procedia PDF Downloads 183

Authors: Khalid. M. O. Elmabrok, M. L. Burby, G. G. Nasr

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Flow instability during gas lift operation is caused by three major phenomena – the density wave oscillation, the casing heading pressure and the flow perturbation within the two-phase flow region. This paper focuses on the causes and the effect of flow instability during gas lift operation and suggests ways to control it in order to maximise productivity during gas lift operations. A laboratory-scale two-phase flow system to study the effects of flow perturbation was designed and built. The apparatus is comprised of a 2 m long by 66 mm ID transparent PVC pipe with air injection point situated at 0.1 m above the base of the pipe. This is the point where stabilised bubbles were visibly clear after injection. Air is injected into the water filled transparent pipe at different flow rates and pressures. The behavior of the different sizes of the bubbles generated within the two-phase region was captured using a digital camera and the images were analysed using the advanced image processing package. It was observed that the average maximum bubbles sizes increased with the increase in the length of the vertical pipe column from 29.72 to 47 mm. The increase in air injection pressure from 0.5 to 3 bars increased the bubble sizes from 29.72 mm to 44.17 mm and then decreasing when the pressure reaches 4 bars. It was observed that at higher bubble velocity of 6.7 m/s, larger diameter bubbles coalesce and burst due to high agitation and collision with each other. This collapse of the bubbles causes pressure drop and reverse flow within two phase flow and is the main cause of the flow instability phenomena.

Keywords: gas lift instability, bubbles forming, bubbles collapsing, image processing

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Authors: Tolga Yazıcı

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As a matter of the fact that online social networks like Twitter, Facebook and MySpace have experienced an extensive growth in recent years. Social media offers individuals with a tool for communicating and interacting with one another. These social networks enable people to stay in touch with other people and express themselves. This process makes the users of online social networks active creators of content rather than being only consumers of traditional media. That’s why millions of people show strong desire to learn the methods and tools of digital content production and necessary communication skills. However, the booming interest in communication and interaction through online social networks and high level of eagerness to invent and implement the ways to participate in content production raise some privacy and security concerns. This presentation aims to open the assumed revolutionary, democratic and liberating nature of the online social media up for discussion by reviewing some recent political developments in Turkey. Firstly, the role of Internet and online social networks in mobilizing collective movements through social interactions and communications will be questioned. Secondly, some cases from Gezi and Okmeydanı Protests and also December 17-25 period will be presented in order to illustrate misinformation and manipulation in social media and violation of individual privacy through online social networks in order to damage social unity and stability contradictory to democratic nature of online social networking.

Keywords: online social media networks, democratic participation, social movements, social polarization, privacy of individuals, Turkey

Procedia PDF Downloads 319

Authors: J. Subbalakshmi, G. Dhruvasamhith, S. M. Hussain

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Polyaniline (PANI) is one of the most extensively studied material among the conducting polymers due to its simple synthesis by chemical and electrochemical routes. PANIs have advantages of chemical stability and high conductivity making their commercial applications quite attractive. However, to our knowledge, very little work has been reported on the tensile strength properties of templated PANIs processed with polyvinyl alcohol and also, detailed study has not been carried out. We have investigated the effect of small molecule and polymers as templates on PANI. Stable aqueous colloidal suspensions of trisodium citrate (TSC), poly(ethylenedioxythiophene)-polystyrene sulfonate (PEDOT-PSS), and polyethylene glycol (PEG) templated PANIs were prepared through chemical synthesis, processed with polyvinyl alcohol (PVA) and were fabricated into films by solution casting. Absorption and infra-red spectra were studied to gain insight into the possible molecular interactions. Surface morphology was studied through scanning electron microscope and optical microscope. Interestingly, tensile testing studies revealed least strain for pure PVA when compared to the blends of templated PANI. Furthermore, among the blends, TSC templated PANI possessed maximum elasticity. The ultimate tensile strength for PVA processed, PEG-templated PANI was found to be five times more than other blends considered in this study. We establish structure–property correlation with morphology, spectral characterization and tensile testing studies.

Keywords: surface morphology, processed films, polyvinyl alcohol, templated polyanilines, tensile testing

Procedia PDF Downloads 191

Authors: Balimu Mwiya, Mundia Muya, Chabota Kaliba, Peter Mukalula

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Factors affecting construction unit cost vary depending on a country’s political, economic, social and technological inclinations. Factors affecting construction costs have been studied from various perspectives. Analysis of cost factors requires an appreciation of a country’s practices. Identified cost factors provide an indication of a country’s construction economic strata. The purpose of this paper is to identify the essential factors that affect unit cost estimation and their breakdown using artificial neural networks. Twenty-five (25) identified cost factors in road construction were subjected to a questionnaire survey and employing SPSS factor analysis the factors were reduced to eight. The 8 factors were analysed using the neural network (NN) to determine the proportionate breakdown of the cost factors in a given construction unit rate. NN predicted that political environment accounted 44% of the unit rate followed by contractor capacity at 22% and financial delays, project feasibility, overhead and profit each at 11%. Project location, material availability and corruption perception index had minimal impact on the unit cost from the training data provided. Quantified cost factors can be incorporated in unit cost estimation models (UCEM) to produce more accurate estimates. This can create improvements in the cost estimation of infrastructure projects and establish a benchmark standard to assist the process of alignment of work practises and training of new staff, permitting the on-going development of best practises in cost estimation to become more effective.

Keywords: construction cost factors, neural networks, roadworks, Zambian construction industry

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Authors: Anna Dolinayova, Juraj Camaj, Martin Loch

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Presently it is necessary to ensure the sustainable development of passenger and freight transport. Increasing performance of road freight have been a negative impact to environment and society. It is therefore necessary to increase the competitiveness of intermodal transport, which is more environmentally friendly. The study describe the effectiveness of logistical centers realization for companies and society and research how the partial internalization of external costs reflected in the efficient use of these centers and increase the competitiveness of intermodal transport to road freight. In our research, we use the method of comparative analysis and market research to describe the advantages of logistic centers for their users as well as for society as a whole. Method normal costing is used for calculation infrastructure and total costs, method of conversion costing for determine the external costs. We modelling of total society costs for road freight transport and inter modal transport chain (we assumed that most of the traffic is carried by rail) with different loading schemes for condition in the Slovak Republic. Our research has shown that higher utilization of inter modal transport chain do good not only for society, but for companies providing freight services too. Increase in use of inter modal transport chain can bring many benefits to society that do not bring direct immediate financial return. They often bring the multiplier effects, such as greater use of environmentally friendly transport mode and reduce the total society costs.

Keywords: delivery time, economy effectiveness, logistical centers, ecological efficiency, optimization, society

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Authors: Grzegorz Mazurek, Michal Kucia

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The following study of a preliminary character, presents a first step of multifaceted study on the usage of social media in HEIs. It examines a significance, potential, and managerial implications of social media marketing and blogs usage in HEIs – namely in the sphere of business schools. Social media – particularly: blogging and virtual platforms such as Facebook, Twitter or Instagram have been covered at length in publications of both theoretical and practical nature as of late. Still, the amount of information related to the framework of application of social media in HEIs is rather limited. A pre-designed observation matrix has been used to collect primary data found at websites of different HEIs and to include blog observations. Additionally, a pilot study based on on-line questionnaires with marketing officers of HEI schools has been conducted. The main aim of the study was to identify and elaborate on matters like the scope of social media usage (and blogs in particular) in practice, recognition of the functions fulfilled by social media and blogs, or the anticipated potential of social media for HEIs. The study reveals that the majority of business schools highly ranked in Financial Times rankings use social media and interactive functionalities of their web sites, however, mostly for promotional reasons, and they are targeted at new students. The usage of blogs, though, is not so common and in most cases, blogs are independent platforms, not managed but supported by organizations. Managers and specialists point to lack of resources, insufficient users’ engagement and lack of strategic approach to social media as the main reasons of not advancing in the usage of blogs and social media platforms.

Keywords: blogs, social media marketing, higher education institutions, business schools, value co-creation

Procedia PDF Downloads 245

Authors: Cupian

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The expansion of Islamic banking industry seems to emphasize the banking competition in Indonesia where conventional and Islamic banks coexist. In addition, the 2007/2008 global financial crisis and deregulation have the effect on competitive conditions in Islamic banking market. In this context, this study aims at investigating competitive conditions and market power of Islamic banks in Indonesia using firm level data over the period 2006-2013. The study also attempts to identify the factors that represent the power of banking market to better study the degree of competition in this banking industry. Using samples of 27 Islamic commercial banks, the study uses a variety of structural and non-structural measures related to the traditional approach and the new empirical approach of the industrial organization (NEIO). The methodology is based on the set of measures of the competition and market power. The first measure is a set of concentration ratios (CR4) and Herfindahl-Hirschman index (HHI).The second measures are the Panzar and Ross H-statistic and the Lerner index based on econometric estimations with the aim of evaluating the market structure and measuring its power in terms of price setting. The results of the competition analysis suggest that the Islamic banking markets in Indonesia cannot be characterized by the bipolar cases of either perfect competition or monopoly over 2006-2013. That is, banks earned their revenues operating under conditions of monopolistic competition in that period. Overall, Islamic banks in Indonesia operate in a relatively less competitive environment or in high market power. It is also indicated that Islamic bank that hope to achieve higher returns should operate in the competitive environment.

Keywords: bank competition, islamic banks, market structure, profitability

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Authors: Priyansha Sharma, Sibani Mund, Sivakumar Vaidyanathan

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Solid-state synthesis methods were used for the synthesis of pure red emissive Li¬3BaSrxCa(1-x)Eu2.7Gd0.3(MoO4)8 (x = 0.0 to 1.0) phosphors, XRD, SEM, and FTIR spectra were used to characterize the materials, and their optical properties were thoroughly investigated. PL studies were examined at different excitations 230 nm, 275nm, 465nm, and 395 nm. All the spectra show similar emissions with the highest transition at 616 nm due to ED transition. The given phosphor Li¬3BaSr0.25Ca0.75Eu2.7Gd0.3(MoO4)8 shows the highest intensity and is thus chosen for the temperature-dependent and Quantum yield study. According to the PL investigation, the phosphor-containing Eu3+ emits red light due to the (5D0 7F2) transition. The excitation analysis shows that all of the Eu3+ activated phosphors exhibited broad absorption due to the charge transfer band, O2-Mo6+, O2-Eu3+ transition, as well as narrow absorption bands related to the Eu3+ ion's 4f-4f electronic transition. Excitation spectra show Charge transfer band at 275 nm shows the highest intensity. The primary band in the spectra refers to Eu3+ ions occupying the lattice's non-centrosymmetric location. All of the compositions are monoclinic crystal structures with space group C2/c and match with reference powder patterns. The thermal stability of the 3BaSr0.25Ca0.75Eu2.7Gd0.3(MoO4)8 phosphor was investigated at (300 k- 500 K) as well as at low temperature from (20 K to 275 K) to be utilized for red and white LED fabrication. The Decay Lifetime of all the phosphor was measured. The best phosphor was used for White and Red LED fabrication.

Keywords: PL, phosphor, quantum yield, white LED

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Authors: Khalid Abdelghany

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Additive Manufacturing (AM) is the manufacturing technology that is used to fabricate fast products direct from CAD models in very short time and with minimum operation steps. Jointly with the advancement in medical computer modeling, AM proved to be a very efficient tool to help physicians, orthopedic surgeons and dentists design and fabricate patient-tailored surgical guides, templates and customized implants from the patient’s CT / MRI images. AM jointly with computer-assisted designing/computer-assisted manufacturing (CAD/CAM) technology have enabled medical practitioners to tailor physical models in a patient-and purpose-specific fashion and helped to design and manufacture of templates, appliances and devices with a high range of accuracy using biocompatible materials. In developing countries, there are some technical and financial limitations of implementing such advanced tools as an essential portion of medical applications. CMRDI institute in Egypt has been working in the field of Medical Additive Manufacturing since 2003 and has assisted in the recovery of hundreds of poor patients using these advanced tools. This paper focuses on the surgical and dental use of 3D printing technology in Egypt as a developing country. The presented case studies have been designed and processed using the software tools and additive manufacturing machines in CMRDI through cooperative engineering and medical works. Results showed that the implementation of the additive manufacturing tools in developed countries is successful and could be economical comparing to long treatment plans.

Keywords: additive manufacturing, dental and orthopeadic stents, patient specific surgical tools, titanium implants

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Authors: Gustavo G. Shimamoto, Matthieu Tubino

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The characterization and the quality of biodiesel samples are checked by determining several parameters. Considering a large number of analysis to be performed, as well as the disadvantages of the use of toxic solvents and waste generation, multivariate calibration is suggested to reduce the number of tests. In this work, hydrogen nuclear magnetic resonance (1H NMR) spectra were used to build multivariate models, from partial least squares (PLS) regression, in order to determine simultaneously six important characterizing and/or quality parameters of biodiesels: density at 20 ºC, kinematic viscosity at 40 ºC, iodine value, acid number, oxidative stability, and water content. Biodiesels from twelve different oils sources were used in this study: babassu, brown flaxseed, canola, corn, cottonseed, macauba almond, microalgae, palm kernel, residual frying, sesame, soybean, and sunflower. 1H NMR reflects the structures of the compounds present in biodiesel samples and showed suitable correlations with the six parameters. The PLS models were constructed with latent variables between 5 and 7, the obtained values of r(cal) and r(val) were greater than 0.994 and 0.989, respectively. In addition, the models were considered suitable to predict all the six parameters for external samples, taking into account the analytical speed to perform it. Thus, the alliance between 1H NMR and PLS showed to be appropriate to characterize and evaluate the quality of biodiesels, reducing significantly analysis time, the consumption of reagents/solvents, and waste generation. Therefore, the proposed methods can be considered to adhere to the principles of green chemistry.

Keywords: biodiesel, multivariate calibration, nuclear magnetic resonance, quality parameters

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Authors: Damien P. Fevre, Peter K. Dearden

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Honeybee population sustainability is a critical concern for environmental stability and human food security. The success of a colony relies heavily on the egg-laying capacity of the queen, as it determines the production of thousands of worker bees who, in turn, perform essential functions in foraging and transforming food to make it digestible for the colony. The main sources of nutrition for honeybees are nectar, providing carbohydrates, and pollen, providing protein. This study delves into the impact of the proportion of these macronutrients on the food consumption patterns of nurse bees responsible for feeding the queen and how it affects the characteristics of the eggs produced. Using nutritional geometry, qRT-PCR, and RNA-seq analysis, this study sheds light on the pivotal role of nutrition in influencing gene expression in nurse bees, honeybee queen egg-laying capacity and embryonic development. Interestingly, while nutrition is crucial, the queen's genotype plays an even more significant role in this complex relationship, highlighting the importance of genotype-by-environment interactions. Understanding the interplay between genotype and nutrition is key to optimizing beekeeping management and strategic queen breeding practices. The findings from this study have significant implications for beekeeping practices, emphasizing the need for an appropriate nutrition to support the social nutrition of Apis mellifera. Implementing these insights can lead to improved colony health, increased productivity, and sustainable honeybee conservation efforts.

Keywords: honeybee, egg-laying, nutrition, transcriptomics

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Authors: Lakshmi Sirisha Kotikalapudi

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Atenolol, the widely used antihypertensive drug is ionisable and degrades in the acidic environment of the GIT lessening the bioavailability. Transdermal route may be selected as an alternative to enhance the bioavailability. Half-life of the drug is 6-7 hours suggesting the requirement of prolonged release of the drug. The present work of transdermal niosomal gel aims to extend release of the drug and increase the bioavailability. Ethanol injection method was used for the preparation of niosomes using span-60 and cholesterol at different molar ratios following central composite design. The prepared niosomes were characterized for size, zeta-potential, entrapment efficiency, drug content and in-vitro drug release. Optimized formulation was selected by statistically analyzing the results obtained using the software Stat-Ease Design Expert. The optimized formulation also showed high drug retention inside the vesicles over a period of three months at a temperature of 4 °C indicating stability. Niosomes separated as a pellet were dried and incorporated into the hydrogel prepared using chitosan a natural polymer as a gelling agent. The effect of various chemical permeation enhancers was also studied over the gel formulations. The prepared formulations were characterized for viscosity, pH, drug release using Franz diffusion cells, and skin irritation test as well as in-vivo pharmacological activities. Atenolol niosomal gel preparations showed the prolonged release of the drug and pronounced antihypertensive activity indicating the suitability of niosomal gel for topical and systemic delivery of atenolol.

Keywords: atenolol, chitosan, niosomes, transdermal

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Authors: Ratih Andaruni Widhiantari

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The combination of the expanding population of aid agencies and the act of politicization in humanitarian intervention blurred the distinction between what humanitarianism accept as universal human rights in theory and their practices in humanitarian intervention. Humanitarian organizations were now venturing into the formerly taboo territory of politics that place individuals at risk, for examples, cooperating and coordinating with the intervening states, considering moments of destruction as opportunities for political change and even taking on functions that had once been the exclusive preserve of government. Hence, aid agencies were becoming involved in matters of local or even international politics. This study focuses on the comparison between Oxfam and Médecins Sans Frontières (MSF) or Doctor without Borders different attitudes against political influences in humanitarian aid. It aims to untangle the bewilderment whether the contradictory approach to politics will becoming a barrier to performing their principles as humanitarian actors and also the consequences of taking that one particular position. The analysis of quantitative data and qualitative literature analysis are presented. The findings indicated Oxfam is actively engaged with politics. It welcomed government and private sector to shared cooperation to reach its goals to alleviate global inequalities. On the other hand, MSF has always taken a strong position to refuse any politics influence within their aid programmes. With no financial assistance from any government, MSF is free from any direct politics intervention. Hence, it can work efficiently with a clear objective to respond the demand side pressures from the people in needs. It is still publicly against politic involvement in the humanitarian activity, but practically, it has been moving forward to politicization in its own definition.

Keywords: humanitarian agencies, humanitarian intervention, humanitarian principles, politicization of humanitarianism

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Authors: Elham Dehghan, A. Shirzadi Javid, Mohsen Tadayon

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Labor productivity is very important and gained special concerns among professionals in the construction industry, worldwide. Productivity improvements on labors achieve higher cost savings with minimal investment. Due to the fact that profit margins are small on construction projects, cost savings associated with productivity are crucial to become a successful contractor. This research program studies and highlights the factors affecting labor productivity in Iranian construction industry. A questionnaire was used to gather the relevant data from respondents who involve in managing various types of projects in wide areas in Iran. It involved ranking 57 predefined factors divided into 5 categories: Human/Labor; Financial; Management; Equipments/Materials and Environmental. Total 62 feedbacks were analyzed through the Relative Importance Index (RII) technique. The top ten factors affecting construction labor productivity in Iran are: 1) Professional capability of contractor project manager, 2) skills of contractor’s project management team, 3) professional capability of owner project manager, 4) professional capability of Consulting Project manager, 5) discipline working, 6) delay payments by the owner, 7) material shortages, 8) delays in delivery of materials, 9) turnover power of the owner, 10) poor site management. Recommendations have been made in the study to address these factors. The research has direct benefits to key stakeholders in Iranian construction industry.

Keywords: Iranian construction projects, labor, productivity, relative importance index

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Authors: Amir Ikram, Faisal Ijaz, Qin Su

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The empirical study was undertaken to explore the determinants of non-performing loans (NPLs) of small and medium enterprises (SMEs) sector held by the commercial banks. Primary data was collected through well-structured survey questionnaire from credit analysts/bankers of 42 branches of 9 commercial banks, operating in the district of Lahore (Pakistan), for 2014-2015. Selective descriptive analysis and Pearson chi-square technique were used to illustrate and evaluate the significance of different variables affecting NPLs. Branch age, duration of the loan, and credit policy were found to be significant determinants of NPLs. The study proposes that bank-specific and SME-specific microeconomic variables directly influence NPLs, while macroeconomic factors act as intermediary variables. Framework exhibiting causal nexus of NPLs was also drawn on the basis of empirical findings. The results elaborate various origins of NPLs and suggest that they are primarily instigated by the loan sanctioning procedure of the financial institution. The paper also underlines the risk management practices adopted by the bank at branch level to averse the risk of loan default. Empirical investigation of bank-specific microeconomic factors of NPLs with respect to Pakistan’s economy is the novelty of the study. Broader strategic policy implications are provided for credit analysts and entrepreneurs.

Keywords: commercial banks, microeconomic factors, non-performing loans, small and medium enterprises

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Authors: Sarmin, S., Ologuin, R.S.

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Background: Rapid population growth and land constraints in Singapore results in a possible situation in which we face a higher number of casualties and lack of operational space in healthcare facilities during disasters and HAZMAT events, collectively known as Civil Emergencies. This creates a need for available working space within hospital grounds to be amphibious or multi-functional, to ensure the institution’s capability to respond efficiently to Civil Emergencies. The Emergency Department (ED) mitigates this issue by converting the Ambulance Assembly Area used during peacetime into an Open Decontamination Facility (ODF) during Civil Emergency Response, for decontamination of casualties before they proceed to treatment areas into Ambulance Assembly Area used during peacetime. Aims: To effectively operationalize the Open Decontamination Facility (ODF) through the reduction of manual handling. Methods: From past experiences on Civil Emergency exercises, it was labor-intensive for staff to set up the Open Decontamination Facility (ODF). Manual handling to set up the Decontamination lanes by bringing down the curtains and supply of water was required to be turned on. Conclusion: The effectiveness of the design construction of an Open Decontamination Facility (ODF) is based on the use of automation of bringing down the curtains on the various lanes. The use of control panels for water supply to decontaminate patients. Safety within the ODF was considered with the installation of panic buttons, intercom for staff communication, and perimeter curtains were installed with stability arm to manage the condition with high wind velocity.

Keywords: civil emergencies, disaster, emergency department, Hazmat

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Authors: Lady Salvador Purganan, Jojo M. Villamin, Noel L. Lansang

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Tourism is a multifaceted but interdependent industry. This industry is composed of four major players, the public sector, the private sector, the local community, and the tourists. Each player has a vital role in the success of delivering high-quality tourism products and activities. There are various manifestations of positive economic outcomes that benefit the local community. Pro-poor tourism development approach has a great potential to serve as an avenue for capacity building leading to economic independence since natural attractions and cultural resources are assets that can be capitalized on, especially by the poor, because it is more accessible to them compared to financial resources. In the National Tourism Development Plan 2016-2022, specific mechanisms are not reflected to combat and lower poverty incidence through tourism. The researcher used the multidimensional poverty theory and sustainable tourism theory to formulate indicators in the research instrument and social exchange theory. The expected output of the study is to unlock opportunities, specifically in Brgy. Sta. Lucia, Guimba, Nueva Ecija, by crafting policies taking into utmost consideration local community involvement and participation in the process of tourism development which is essential in attaining inclusive growth and sustainability. This study will apply the sequential explanatory design mixed-method approach.

Keywords: pro-poor tourism, poverty alleviation, livelihood opportunities, tourism development plan

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Authors: Marcelo Sifuentes López

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Strategic performance definition and follow-up processes have to be clear in order to provide value in today’s competitive world. Customer expectations must be linked to internal organization strategic objectives leading to profitability and supported by visibility and flexibility among others.By taking a whole picture of the supply chain, the executive, and its team will define the current supply chain situation and an insight into potential opportunities to improve processes and provide value to main stakeholders. A systematic performance evaluation process based on operational and financial indicators defined by customer requirements needs to be implemented and periodically reviewed in order to mitigate costs and risks on time.Supplier long term relationship and collaboration plays a key role using resources available, real-time communication, innovation and new ways to capitalize global opportunities like emerging markets; efforts have to focus on the reduction of uncertainties in supply and demand. Leadership has to promote consistency of communication and execution involving suppliers, customers, and the entire organization through the support of a strategic sourcing methodology that assure the targeted competitive strategy and sustainable growth. As customer requirements and expectations are met, results could be captured in a casual picture like a “selfie”; where outcomes could be perceived from any desired angle by them; or like most “selfies”, can be taken with a camera held at arm's length by a third party company rather than using a self-timer.

Keywords: supply chain management, competitive advantage, value creation, collaboration and innovation, global marketplace

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Authors: M. G. Shilina

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The prospects for political and economic development of the Eurasian space are currently discussed at both governmental and expert levels. New concepts actively proposed by the Eurasian governments require the analysis and search for effective implementation options. In the paper, an attempt to identify effective solutions to the problems surrounding the current economic integration of the Eurasian states is given on the basis of an interdisciplinary, comprehensive, structured analysis. The phenomenon is considered through the prism of the international law, world economy and politics, combined with the study of existing intergovernmental practice. The modeling method was taken as the basis for the research and is supplemented by legal and empirical methods. The detailed multi-level model of practical construction the 'Great Eurasia' (the GE) concept is proposed, the option for building a phased interaction in Eurasia is given through the prism of construction by the Eurasian Economic Union (the EAEU) as the main tool. The Shanghai Cooperation Organization (the SCO) is seen as the most promising element of the model. The SCO is capable of streamlining the formation of the GE and determine the transformation of Eurasia into a common economic space. Effective development of the economic integration between Eurasian states on the framework of the SCO is optimal. The SCO+ could be used as a platform for integration-integration processes formation. The creation of stable financial ties could become the basis for the possible formation of an expanded transregional integration platform. The paper concludes that the implementation of the proposed model could entail a gradual economic rapprochement of Eurasia and beyond.

Keywords: economic integration, The Eurasian Economic Union, The European Union, The Shanghai Cooperation Organization, the silk road economic belt

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Authors: Manuela Nayantara Jeyaraj

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Having moved into the 21^st century, it is way past being arguable that innovative technology needs to be incorporated into conventional classroom teaching. Though the Western world has found presumable success in achieving this, it is still a concept under battle in developing countries such as Sri Lanka. Reaching the acme of implementing interactive virtual learning within classrooms is a struggling idealistic fascination within the island. In order to overcome this problem, this study is set to reveal facts that limit the implementation of virtual, interactive learning within the school classrooms and provide hacks that could prove the augmented use of the Virtual World to enhance teaching and learning experiences. As each classroom moves along with the usage of technology to fulfill its functionalities, a few intense hacks provided will build the administrative onuses on a virtual system. These hacks may divulge barriers based on social conventions, financial boundaries, digital literacy, intellectual capacity of the staff, and highlight the impediments in introducing students to an interactive virtual learning environment and thereby provide the necessary actions or changes to be made to succeed and march along in creating an intellectual society built on virtual learning and lifestyle. This digital learning environment will be composed of multimedia presentations, trivia and pop quizzes conducted on a GUI, assessments conducted via a virtual system, records maintained on a database, etc. The ultimate objective of this study could enhance every child's basic learning environment; hence, diminishing the digital divide that exists in certain communities.

Keywords: digital divide, digital learning, digitization, Sri Lanka, teaching methodologies

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Authors: Qinglu Wu, Anna Wai-Man Choi, Peilian Chi

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Gratitude is one individual strength that not only facilitates the mental health, but also fosters the relationship satisfaction in the romantic relationship. In terms of moral effect theory and stress-and-coping theory of forgiveness, present study not only investigated the association between grateful disposition and relationship satisfaction, but also explored the mechanism by comprehensively examining the potential mediating roles of three profiles of forgiveness (trait forgivingness, decisional forgiveness, emotional forgiveness), another character strength that highly related to the gratitude and relationship satisfaction. Structural equation modeling was used to conduct the multiple mediator model with a sample of 103 Chinese college students in dating relationship (39 male students and 64 female students, Mage = 19.41, SD = 1.34). Findings displayed that both gratitude and relationship satisfaction positively correlated with decisional forgiveness and emotional forgiveness. Emotional forgiveness was the only mediator, and it completely mediated the relationship between gratitude and relationship satisfaction. Gratitude was helpful in enhancing individuals’ perception of satisfaction in romantic relationship through replacing negative emotions toward partners with positive ones after transgression in daily life. It highlighted the function of emotional forgiveness in personal healing and peaceful state, which is important to the perception of satisfaction in relationship. Findings not only suggested gratitude could provide a stability for forgiveness, but also the mechanism of prosocial responses or positive psychological processes on relationship satisfaction. The significant roles of gratitude and emotional forgiveness could be emphasized in the intervention working on the romantic relationship development or reconciliation.

Keywords: decisional forgiveness, emotional forgiveness, gratitude, relationship satisfaction, trait forgivingness

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Authors: Mershack O. Tetteh, Albert P. C. Chan, Amos Darko, Gabriel Nani

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International construction joint ventures (ICJVs) have evolved as an effective approach to sustainable development, given their myriad socio-economic and environmental benefits. Yet, they are not free of barriers and risks. In many studies, it is termed as risks for convenience’s sake. While the barriers and risks continue to affect the success of ICJVs, a systematic and reliable approach for managing them has yet to be developed. This study aims to identify and classify the barriers and risks factors affecting ICJVs through a systematic literature review. Based on a critical review of 54 papers published in peer-reviewed journals from 1990 to 2019, a conceptual framework was proposed for managing the barriers and risks in ICJV operations. The review showed that the barriers can be grouped into six including inter-organizational differences, lack of expertise and confidence, lack of effective planning and strategies, lack of knowledge of ICJV’s fundamentals, conflicts among ICJV entities, and management difficulties. The risks were also categorized into six: policy and political risks, legal risks, financial risks, management risks, project and technical risks, and market risks. The developed model would help practitioners achieve more efficient resource allocation and bring new perspectives for managerial practices in ICJVs. Moreover, it is positioned to alleviate the negligence of previous studies that combined the barriers and risks factors as one checklist.

Keywords: barriers, construction, international construction joint venture, risks, sustainable development

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Authors: Soukaina Motia, Nadia El Alami El Hassani, Alassane Diouf, Benachir Bouchikhi, Nezha El Bari

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Parabens are the antimicrobial molecules largely used in cosmetic products as a preservative agent. Among them, the methylparaben (MP) is the most frequently used ingredient in cosmetic preparations. Nevertheless, their potential dangers led to the development of sensible and reliable methods for their determination in environmental samples. Firstly, a sensitive and selective molecular imprinted polymer (MIP) based on screen-printed gold electrode (Au-SPE), assembled on a polymeric layer of carboxylated poly(vinyl-chloride) (PVC-COOH), was developed. After the template removal, the obtained material was able to rebind MP and discriminate it among other interfering species such as glucose, sucrose, and citric acid. The behavior of molecular imprinted sensor was characterized by Cyclic Voltammetry (CV), Differential Pulse Voltammetry (DPV) and Electrochemical Impedance Spectroscopy (EIS) techniques. Then, the biosensor was found to have a linear detection range from 0.1 pg.mL^-1 to 1 ng.mL^-1 and a low limit of detection of 0.12 fg.mL^-1 and 5.18 pg.mL^-1 by DPV and EIS, respectively. For applications, this biosensor was employed to determine MP content in four wastewaters in Meknes city and two cosmetic products (shower gel and shampoo). The operational reproducibility and stability of this biosensor were also studied. Secondly, another MIP biosensor based on tungsten trioxide (WO₃) functionalized by gold nanoparticles (Au-NPs) assembled on a polymeric layer of PVC-COOH was developed. The main goal was to increase the sensitivity of the biosensor. The developed MIP biosensor was successfully applied for the MP determination in wastewater samples and cosmetic products.

Keywords: cosmetic products, methylparaben, molecularly imprinted polymer, wastewater

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Authors: Shabeer Khan

Abstract:

The main objective of Islamic Finance is to promote social justice thorough financial inclusion and redistribution of economic resources between rich and poor. The approach of Islamic finance is more comprehensive in nature and covers both formal and informal sectors of the economy, first, through reducing the gap between both sectors, and second by using specific Islamic values to reallocate the wealth between formal and informal sectors. Applying Generalized Method of Movements (GMM) to the annual data spanning from 1995-2015 for 141 countries, this study explores the determinants of informal business sector in Organization of Islamic Cooperation (OIC) countries and then compares with Non-OIC countries. Economic freedom and institutions variables as well as economic growth and money supply are found to reduce informal business sector in both OIC and Non-OIC nations while government expenditure are found to increase informal business sector in both group of nations. Informal Business sector remain the same in both types of countries but still the majority Muslim population in OIC economies create main difference between both groups of nations and justify the potential role of Islamic Finance in informal business sector in OIC nations. The study suggests that institutions quality should be improved and entrepreneurs’ friendly business environment must be provided. This study refines the main features of informal business sector and discuss their implications on policy designing and implementation, particularly in the context of Islamic finance fight against poverty, inequality and improving living standards of informal sector participants in OIC countries.

Keywords: Islamic finance, informal Business Sector, Generalized Method of Movements (GMM) and OIC

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Authors: Ogunniran Kehinde Olurotimi, Adekoya Joseph, Ehi-Eromosele Cyril, Mehdi Shihab, Mesubi Adediran, Tadigoppula Narender

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Nicotinic acid hydrazide and 2,4-dihydoxylbenzaldehyde were condensed at 20°C to form an acylhydrazone (H3L) with ONO coordination pattern. The structure of the acylhydrazone was elucidated by using CHN analyzer, ESI mass spectrometry, IR, 1H NMR, 13C NMR and 2D NMR such as COSY and HSQC. Thereafter, five novel metal complexes [Mn(II), Fe(II), Pt(II) Zn(II) and Pd(II)] of the hydrazone ligand were synthesized and their structural characterization were achieved by several physicochemical methods, namely elemental analysis, electronic spectra, infrared, EPR, molar conductivity and powder X-ray diffraction studies. Structural geometries of some of the compounds were supported by using Hyper Chem-8 program for the molecular mechanics and semi-empirical calculations. The stability energy (E) and electron potentials (eV) for the frontier molecules were calculated by using PM3 method. An octahedral geometry was suggested for both Pd(II) and Zn(II) complexes while both Mn(II) and Fe(II) complexes conformed with tetrahedral pyramidal. However, Pt(II) complex agreed with tetrahedral geometry. In vitro antitubercular activity study of the ligand and the metal complexes were evaluated against Mycobacterium tuberculosis, H37Rv, by using micro-diluted method. The results obtained revealed that (PtL1) (MIC = 0.56 µg/mL), (ZnL1) (MIC = 0.61 µg/mL), (MnL1) (MIC = 0.71 µg/mL) and (FeL1) (MIC = 0.82 µg/mL), exhibited a significant activity when compared with first line drugs such as isoniazid (INH) (MIC = 0.9 µg/mL). H3L1 exhibited lesser antitubercular activity with MIC value of 1.02 µg/mL. However, the metal complexes displayed higher cytoxicity but were found to be non-significant different (P ˂ 0.05) to isoniazid drug.

Keywords: hydrazones, electron spin resonance, thermogravimetric, powder X-ray diffraction, antitubercular agents

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