Search results for: financial performance evaluates fish culture

Authors: Jerry Szatko, Edan L. Jorgensen, Stacia Jorgensen

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A crucial component to the success of any financial advising relationship is for the financial professional to understand the perceptions, preferences and thought-processes carried by the financial clients they serve. Armed with this information, financial professionals are more quickly able to understand how they can tailor their approach to best match the individual preferences and needs of each personal investor. Our research explores the use of a quantitative assessment tool in the financial services industry to assist in the identification of the personal investor’s consumer behaviors, especially in terms of financial risk tolerance, as it relates to their financial decision making. Through this process, the Unitifi Consumer Insight Tool (UCIT) was created and refined to capture and categorize personal investor financial behavioral categories and the financial personality tendencies of individuals prior to the initiation of a financial advisement relationship. This paper discusses the use of this tool to place individuals in one of four behavior-based financial risk tolerance categories. Our discoveries and research were aided through administration of a web-based survey to a group of over 1,000 individuals. Our findings indicate that it is possible to use a quantitative assessment tool to assist in predicting the behavioral tendencies of personal consumers when faced with consumer financial risk and decisions.

Keywords: behavior-based advising, financial relationship building, risk capacity based on behavior, risk tolerance, systematic way to assist in financial relationship building

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Authors: Dalibor Štys, Kryštof M. Stys, Maryia Chkalova, Petr Kouba, Aliaxandr Pautsina, Dalibor Štys Jr., Jana Pečenková, Denis Durniev, Tomáš Náhlík, Petr Císař

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In this article, a construction and some properties of the 5iD viewer, the system recording simultaneously five views of a given experimental object is reported. Properties of the system are demonstrated on the analysis of fish schooling behavior. It is demonstrated the method of instrument calibration which allows inclusion of image distortion and it is proposed and partly tested also the method of distance assessment in the case that only two opposite cameras are available. Finally, we demonstrate how the state trajectory of the behavior of the fish school may be constructed from the entropy of the system.

Keywords: 3D positioning, school behavior, distance calibration, space vision, space distortion

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Authors: Lemar Blake, Chris Oura, Ayanna C. N. Phillips Savage

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Improved DNA sequencing technology has greatly enhanced bacterial identification, especially for organisms that are difficult to culture. Mycobacteriosis with consistent hyphema, bilateral exophthalmia, open mouth gape and ocular lesions, were observed in various fish populations at the School of Veterinary Medicine, Aquaculture/Aquatic Animal Health Unit. Objective: To identify the species of Mycobacterium that is affecting aquarium fish at the School of Veterinary Medicine, Aquaculture/Aquatic Animal Health Unit. Method: A total of 13 fish samples were collected and analyzed via: Ziehl-Neelsen, conventional polymerase chain reaction (PCR) and real-time PCR. These tests were carried out simultaneously for confirmation. The following combination of conventional primers: 16s rRNA (564 bp), rpoB (396 bp), sod (408 bp) were used. Concatenation of the gene fragments was carried out to phylogenetically classify the organism. Results: Acid fast non-branching bacilli were detected in all samples from homogenized internal organs. All 13 acid fast samples were positive for Mycobacterium via real-time PCR. Partial gene sequences using all three primer sets were obtained from two samples and demonstrated a novel strain. A strain 99% related to Mycobacterium marinum was also confirmed in one sample, using 16srRNA and rpoB genes. The two novel strains were clustered with the rapid growers and strains that are known to affect humans. Conclusions: Phylogenetic analysis demonstrated two novel Mycobacterium strains with the potential of being zoonotic and one strain 99% related to Mycobacterium marinum.

Keywords: polymerase chain reaction, phylogenetic, DNA sequencing, zoonotic

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Authors: Djehich Mohamed Yousri

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This research tries to highlight the different stages and developments of financial policy which has evolved significantly in its means and mechanism, goals as well, according to the successful developments of the society, in addition to that, the role of the country has been developed from custody to intervening country, that evolution does not impact only on financial science but it was reflected on financial system concepts, that helped fr transport it from neutral financial policy to intervening policy, since each stage was characterized by a set of characteristics, financial policy considers like reflective mirror to the role of state in all times, when the state has been absent as an organized authority to society, the role of financial policy was weakened and has been limited under the impact of ideology which exists at all time, financial role has was limited until the state intervened in all aspects of life, the state role is also influential in economic, social, and political life, this study highlighting the most important developments of financial policy under successful economic systems.

Keywords: public expenditure, government spending, taxes, revenues public, economics

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Authors: Stanley Yap, Mahadevan Supramaniam, Chong Wei Ying, Fatemeh Kimiyaghalam

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Purpose: The paper shows the framework of financial planning in a different paradigm. It highlights the results from a focus group on retirement planning in the aspect of financial literacy and wealth accumulation in Malaysia. Design/methodology/approach: A focus group consisted of thirty individuals and divided into six different clusters amongst 25 to 55 years old. The selection of focus group members is pertaining to retirement planning behavior and saving profile from the different level of educations. Findings: Our results show, firstly, the focus group reflects individual capacity on saving attitude, financial literacy and awareness towards financial products. Secondly, availability, accessibility and affordability which are the significant factors that influence saving attitude, financial literacy and awareness on personal retirement planning behavior. Practical implications: The participants express the concerns of retirement planning during their golden years and the current financial products in the Malaysian financial market. Originality/value: This study is a different approach that recognizes the needs of the consumers in the context of retirement planning and wealth accumulation. Therefore, customers should obtain financial services and products from financial providers to achieve financial independence.

Keywords: retirement planning, wealth accumulation, financial literacy, focus group, saving attitude, availability, accessibility, affordability

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Authors: Isabela Vieira, Leonor Carvalho Garcez, Adalmiro Pereira, Tânia Teixeira

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In the present work, we aim to analyse IKEA as a company, by focusing on its development, financial analysis and future benchmarks, as well as applying some of the knowledge learned in class, namely hedging and other financial risk mitigation solutions, to understand how IKEA navigates and protects itself from risk. The decision that led us to choose IKEA for our casework has to do with the long history of the company since the 1940s and its high internationalization in 63 different markets. The company also has clear financial reports which aided us in the making of the present essay and naturally, was a factor that contributed to our decision.

Keywords: Ikea, financial risk, risk management, hedge

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Authors: Mputu Ngandu Simon

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Culture and religion are two of the most significant markers of an individual or group's identity. Religion finds its expression in a given culture, and culture is the costume in which a religion is dressed. In other words, there is a crucial relationship between religion and culture which should not be ignored. On the one hand, religion influences the way in which a culture is consumed. A person's consumption of a certain cultural practice is influenced by his/her religious identity. On the other hand, cultural identity plays an important role in how a religion is practiced by its adherents. Some cultural practices become more credible when interpreted in religious terms just as religious doctrines and dogmas need cultural interpretation to be understood by a given people in a given context. This relationship goes so deep that sometimes the boundaries between culture and religion become blurred, and people end up mixing religion and culture. In some cases, the two are considered to be one and the same thing. However, despite this apparent sameness, religion and culture are two distinct aspects of identity, and they should always be considered as such. One results from knowledge, while the other has beliefs as its foundation. This essay explores the difference between cultural and religious identity by drawing from existing literature on this topic as a whole before applying that knowledge to two specific case studies: Christianity and Islam in some African and Asian countries.

Keywords: culture, religion, identity, knowledge, belief

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Authors: Cheila Pereira, Sara C. Cunha, Miguel A. Faria, José O. Fernandes

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The increasing world population brings several concerns, one of which is food security and sustainability. To meet this challenge, aquaculture, the farming of aquatic animals and plants, including fish, mollusks, bivalves, and algae, has experienced sustained growth and development in recent years. Recent advances in this industry have focused on reducing its economic and environmental costs, for example, the substitution of protein sources in fish feed. Plant-based proteins are now a common approach, and while it is a greener alternative to animal-based proteins, there are some disadvantages, such as their putative content and intoxicants such as mycotoxins. These are naturally occurring plant contaminants, and their exposure in fish can cause health problems, stunted growth or even death, resulting in economic losses for the producers and health concerns for the consumers. Different works have demonstrated the presence of both AFB1 (aflatoxin B1) and ENNB1 (enniatin B1) in fish feed and their capacity to be absorbed and bioaccumulate in the fish organism after digestion, further reaching humans through fish ingestion. The aim of this work was to evaluate the bioaccessibility of both mycotoxins in samples of Sparus aurata muscle using a static digestion model based on the INFOGEST protocol. The samples were subjected to different cooking procedures – raw, grilled and fried – and different seasonings – none, thyme and ginger – in order to evaluate their potential reduction effect on mycotoxins bioaccessibility, followed by the evaluation of the intestinal transport of both compounds with an in vitro cell model composed of Caco-2/HT-29 co-culture monolayers, simulating the human intestinal epithelium. The bioaccessible fractions obtained in the digestion studies were used in the transport studies for a more realistic approach to bioavailability evaluation. Results demonstrated the effect of the use of different cooking procedures and seasoning on the toxin's bioavailability. Sparus aurata was chosen in this study for its large production in aquaculture and high consumption in Europe. Also, with the continued evolution of fish farming practices and more common usage of novel feed ingredients based on plants, there is a growing concern about less studied contaminants in aquaculture and their consequences for human health. In pair with greener advances in this industry, there is a convergence towards alternative research methods, such as in vitro applications. In the case of bioavailability studies, both in vitro digestion protocols and intestinal transport assessment are excellent alternatives to in vivo studies. These methods provide fast, reliable and comparable results without ethical restraints.

Keywords: AFB1, aquaculture, bioaccessibility, ENNB1, intestinal transport.

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Authors: Rute Abreu, Fátima David, Liliane Cristina Segura

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The Deposit Guarantee Fund (DGF) and its communication with the Society, in general, and with the deposit client of Financial Institutions, in particular, is discussed through the challenges of the accounting and financial report. The Bank of Portugal promotes the Portuguese Deposit Guarantee Fund (PDGF) as a financial institution that enhanced the market confidence and stability on the deposit-insurance system. Due to the nature of their functions, it must be subject to regulation and supervision that provides a first line of defense against adversely affect confidence on the Portuguese financial market. First, this research provides evidence of the effectiveness of the protection mechanisms on the deposit insurance system, which provides high and equal protection to all stakeholders. Second, it emphasizes the need of requirements of rigorous accounting process and effective financial report to reduce the moral hazard implications. Third, this research focuses on the need of total disclosure of the financial information which gives higher transparency and protection to deposit client of financial institutions.

Keywords: deposit guarantee fund, Portugal, accounting, financial report

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Authors: Tasawar Nawaz

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Promotion of socioeconomic justice through redistribution of wealth is one of the most salient features of Islamic economic system. Islamic financial institutions known as Islamic banks are used to implement this in practice under the guidelines of Islamic Shariah law. Islamic banking systems strive to promote and achieve financial inclusion among the society by offering interest-free banking and risk-sharing financing solutions. Shariah-compliant micro finance is one of the most popular financial instruments used by Islamic banks to enhance access to finance. Benevolent loan (or Qard-al-Hassanah) is one of the popular financial tools used by the Islamic banks to promote financial inclusion. This aspect of Islamic banking is empirically examined in this paper with specific reference to firm’s resources, largely defined here as intellectual capital. The paper finds that Islamic banks promote financial inclusion by exploiting available resources especially, the human intellectual capital.

Keywords: financial inclusion, intellectual capital, Qard-al-Hassanah, Islamic banking

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Authors: D. L. David, J. A. Wahedi, Q. T. Zaku

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A study was conducted at River Mayo Ranewo and River Lau, Taraba State Nigeria. The two rivers empty into the Upper Benue Basin. A survey of visual encounter was conducted within the two wetlands from June to August, 2014. The fish record was based entirely on landings of fishermen, number of canoes that land fish was counted, types of nets and baits used on each sampling day. Fishes were sorted into taxonomic groups, identified to family/ species level, counted and weighed in groups by species. Other aquatic organisms captured by the fishermen were scallops, turtles and frogs. The relative species abundance was determined by dividing the number of species from a site by the total number of species from all tributaries/sites. The fish were preserved in 2% formaldehyde solution and taken to the laboratory, were identified through keys of identification to African fishes and field guides. Shannon-Wieiner index of species diversity indicated that the diversity was highest at River Mayo Ranewo than River Lau. Results showed that at River Mayo Ranewo, the family Mochokidae recorded the highest (23.15%), followed by Mormyridae (22.64%) and the least was the family Lepidosirenidae (0.04%). While at River Lau, the family Mochokidae recorded the highest occurrence of (24.1%), followed by Bagridae (20.20%), and then Mormyridae, which also was the second highest in River Lau, with 18.46% occurrence. There was no occurrence of Malapteruridae and Osteoglossidae (0%) in River Lau, but the least occurrence was the family Gymnarchidae (0.04%). According to the result from the t-test, the fish composition was not significantly different (p≤0.05).

Keywords: Diversity Index, Lau, Mayo Ranewo, Wetlands

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Authors: Nishi Malhotra

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Art has developed as a mode of investment and saving. Art and culture of any nation is the source of foreign direct investment (FDI) generation and growth development. Several intermediaries and skill-building organizations thrive on at and culture for their earnings. Indian art market has grown to Rs. 2000 Crores. Art establishment houses access to privileged information is the main reason for arbitrariness and volatility in the market. The commercialization of art and development of the markets with refinement in the taste of the customers have led to the development of art as an investment avenue. Investors keen on investing in these products can do so, and earnings from art are taxable too, like any other capital asset. This research paper is aimed at exploring the role of art and culture as an investment avenue in India and reasons for increasing volatilities in the art market. Based on an extensive literature review and secondary research, a benchmarking study has been conducted to capture the growth of the art as an investment avenue. These studies indicate that during the financial crisis of 2008-10, the art emerged as an alternative investment avenue. The paper aims at discussing the financial engineering of various art funds and instruments. Based on secondary data available from Sotheby’s, Christies, Bonham, there is a positive correlation between strategic diversification and increasing return in the Art market. Similarly, digitization has led to disintermediation in the art markets and also helped to increase the market base. The data clearly enumerates the growing interest of the Indian investor towards art as an investment option. Much like any other broad asset class, art market too thrives on excess returns provided by diversification. Many financial intermediaries and art funds have emerged, to offer valuable investment planning advisory to a genuine investor. This paper clearly highlights the increasing returns of strategic diversification and its impact on reducing volatility in the art markets. Moreover, with coming up of e-auctions and websites, investors are able to analyse art more objectively. Digitization and commercialization of art have definitely helped in reducing volatility in world art markets.

Keywords: art, investment avenue, diversification, digitization

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Authors: Soni Ariawan

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The discourse of language and culture relation is an interesting issue to be researched. The debate is not about what comes first, language or culture, but it strongly argues that learning foreign language also means learning the culture of the language. The more interesting issue found once constructing an EFL textbook dealing with proportional representation among source culture, target culture and international culture. This study investigates cultural content representation in EFL textbook grade 10 year 2017 in Indonesia. Cortazzi and Jin’s theoretical framework is employed to analyse the reading texts, conversations, and images. The finding shows that national character as the main agenda of Indonesian government is revealed in this textbook since the textbook more frequently highlights the source culture (Indonesian culture) compared to target and international culture. This is aligned with the aim of Indonesian government to strengthen the national identity and promoting local culture awareness through education. To conclude, the study is expected to be significant in providing the idea for government to consider cultural balances representation in constructing textbook. Furthermore, teachers and students should be aware of cultural content revealed in the EFL textbook and be able to enhance intercultural communication not only in the classroom but also in a wider society.

Keywords: EFL textbook, intercultural communication, local culture, target culture, international culture

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Authors: Mustapha Achibane, Imane Allam

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Since the nineties, all Moroccan banking institutions have to respect an arsenal of prudential ratios. The respect of these prudential measures aims to ensure the financial system stability. In order to do so, regulatory authorities tried to reduce the financial and operational risks incurred by the banking entities. Meanwhile, regulatory authorities demanded a balance sheet management work from banks. They also asked them to establish a management control system to manage operational risk, as well as an effort in terms of incurred risk-based commitments. Therefore, the prudential approach has a macroeconomic nature and it is presented as a determinant of the operational, microeconomic approach. This operational approach takes the form of a strategy that each banking entity must develop to manage the different banking risks. This study seeks to analyze the problem of risk management between the prudential and the operational approaches. It was processed through a literature review followed by an analysis of the Moroccan banking sector’s performance. At first, we will reconcile the inductive logic and then, the analytical one. The first approach consists of analyzing the phenomenon from a normative and conceptual perspective, while the second one will consist of considering the Moroccan banking system and analyzing the behavior of Moroccan banking entities in terms of risk management and performance. The results identified a favorable growth in terms of performance, despite the huge provisioning effort made to meet the international standards and the harmonization of the regulations.

Keywords: banking performance, financial intermediation, operational approach, prudential standards, risk management

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: Mais Khader, Xingjie Wei

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This research sheds light on female entrepreneurs by providing new insights on the survival predictions of companies led by females in the UK. This study aims to build a predictive machine learning model of the survival of female-led & co-led small & medium enterprises (SMEs) in the UK over the period 2000-2020. The predictive model built utilised a combination of financial and non-financial features related to both companies and their directors to predict SMEs' survival. These features were studied in terms of their contribution to the resultant predictive model. Five machine learning models are used in the modelling: Decision tree, AdaBoost, Naïve Bayes, Logistic regression and SVM. The AdaBoost model had the highest performance of the five models, with an accuracy of 73% and an AUC of 80%. The results show high feature importance in predicting companies' survival for company size, management experience, financial performance, industry, region, and females' percentage in management.

Keywords: company survival, entrepreneurship, females, machine learning, SMEs

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Authors: Luz Hurtado, Rodrigo Rojas, Jaime Romero, Christopher Concha

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The culture of the marine fish red cusk eel Genypterus chilensis is currently considered a priority for Chilean aquaculture which is a Chilean native species of high gastronomic demand and market value. The microbiota was analyzed in terms of diversity and structure using massive Illumina sequencing. The analysis of alpha diversity was performed in samples of G. chilensis larvae of 6, 18 and 32 dph (days post-hatching) and it was observed that there were significant differences (P = 0.05) between the days of culture for the Chao1 index, being the larvae of 18 dph the one with the highest index followed by the larvae of 6 dph, The lowest value for this index was presented in larvae of 32 dph. There were no significant differences in larvae between the days of culture for the Shannon (P=0.0857) and Simpson (P=0.0714) indices. In general, the larvae of G. chilensis have high rates of diversity. When analyzing the beta diversity, a differentiation between the bacterial communities is observed depending on the day of the culture of the larvae. Considering the PCoA elaborated from the unweighted UniFrac statistic, the explained variance was 46.2% (PC1 29.2% and PC2 17.0%) and in the case of the PCoA elaborated with the weighted UniFrac statistic; the explained variance was 65.5% (PC1 41.8% and PC2 23.7%) these differences were significant based on the Permanova statistical analysis (P= 0.002 and 0.037 respectively). When analyzing the taxonomic composition of the microbiota of the larvae in the different days of culture it was observed that at the phyla level the most abundant in the larvae of 6 dph were Proteobacteria (57%) Verrucomicrobia (24%) and Firmicutes (14%), for the larvae of 18 dph the predominant phyla were Proteobacteria (90%), Dependientiae (5%), Actinobacteria (2%) and Plactomyces (2%), for the larvae of 32 dph the phyla that presented the highest relative abundance were Proteobacteria (57%), Firmicutes (29%), Verrucomicrobia (5%) and Actinobacteria (5%), when comparing the larvae between the days it was observed that the phylum Proteobacteria was the most abundant in the samples of larvae of 6, 18 and 32 dph being the larvae of 18 dph those that present the highest relative abundance, the larvae of 6 dph were those that presented the highest relative abundance for the phylum Verrucomicrobia and in the larvae of 32 dph was observed greater abundance of the phylum Firmicutes compared to the other days of larval culture. At the level of genera, those with the highest relative abundance in larvae of 6 dph were Rubritalea (30%), Psychrobacter (28%), staphylococcus (17%) and Ralstonia (10%), for the larvae of 18 dph the genera with the highest abundance were Psychrobacter (47%), Litoreibacter (13%), Nautella (9%) and Cohesibacter (8%), for the larvae of 32 dph the most abundant genera were Alloiococcus (25%), Dialister (14%), Neptunomonas (13%) and Piscirickettsia (11%). When observing the taxonomic composition of the larvae between the days of larval culture, it is observed that there are differences between them.

Keywords: microbiota, diversity, G. Chilensis, larvae

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Authors: Hanaa M. M. El-Khayat, Hanan S. Gaber, Hoda Abdel-Hamid, Kadria M. A. Mahmoud, Hoda M. A. Abu Taleb

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This work aimed to examine Oreochromis niloticus fish from Lake Manzala in Port Said, Dakahlya and Damietta governorates, Egypt, as a bio-indicator for the lake water pollution through recording alterations in their hematological, physiological, and histopathological parameters. All fish samples showed a significant increase in levels of alkaline phosphatase (ALP), creatinine and glutathione-S-transferase (GST); only Dakahlya samples showed a significant increase (p<0.01) in aspartate aminotransferase (AST) level and most Dakahlya and Damietta samples showed reversed albumin and globulin ratio and a significant increase in γ-glutamyltransferase (GGT) level. Port-Said and Damietta samples showed a significant decrease of hemoglobin (Hb) while Dakahlya samples showed a significant decrease in white blood cell (WBC) count. Histopathological investigation for different fish organs showed that Port-Said and Dakahlya samples were more altered than Damietta. The muscle and gill followed by intestine were the most affected organs. The muscle sections showed severe edema, neoplasia, necrotic change, fat vacuoles and splitting of muscle fiber. The gill sections showed dilated blood vessels of the filaments, curling of gill lamellae, severe hyperplasia, edema and blood vessels congestion of filaments. The intestine sections revealed degeneration, atrophy, dilation in blood vessels and necrotic changes in sub-mucosa and mucosa with edema in between. The recorded significant alterations, in most of the physiological and histological parameters in O. niloticus samples from Lake Manzala, were alarming for water pollution impacts on lake fish community, which constitutes the main diet and the main source of income for the people inhabiting these areas, and were threatening their public health and economy. Also, results evaluate the use of O. niloticus fish as important bio-indicator for their habitat stressors.

Keywords: Lake Manzala, Oreochromis niloticus fish, water pollution, physiological, hematological and histopathological parameters

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Authors: Sami Adwan, Alaa Alhaj Ismail, Claudia Girardone

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This paper examines the changes in the value relevance of book value of equity and net income of financial firms over the crisis period. It also examines how these changes vary with three variables, namely, fair value exposure, ownership concentration, and regulatory capital ratios. Using a sample of financial firms operating in the European Economic Area over 2005-2011, our findings suggest that the value relevance of book value of equity increases while that of net income decreases during the financial crisis. We find that more exposure to fair value accounting mitigates the impact of the crisis on the value relevance of book value of equity and net income. We also find that more concentrated ownership appears to have a mitigating impact on the changes in the value relevance of both book value of equity and net income in times of financial crisis. Finally, we find evidence that the level of regulatory capital ratios tends to have an attenuating effect on the changes in the value relevance of net income (but not book value of equity) in times of financial crisis.

Keywords: value relevance, financial crisis, financial firms, fair value, ownership concentration, regulatory capital

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Authors: Chin-Yuan Hsieh, Wei-Chun Lu, Yu-Hong Zeng

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The situation of a group of fish die is frequently found due to the fish disease caused by the deterioration of aquaculture water quality. The toxic ammonia is produced by animals as a byproduct of protein. The system is designed by the smart sensor technology and developed by the mathematical model to monitor the water parameters 24 hours a day and predict the relationship among twelve water quality parameters for monitoring the water quality in aquaculture. All data measured are stored in cloud server. In productive ponds, the daytime pH may be high enough to be lethal to the fish. The sudden change of the aquaculture conditions often results in the increase of PH value of water, lack of oxygen dissolving content, water quality deterioration and yield reduction. From the real measurement, the system can send the message to user’s smartphone successfully on the bad conditions of water quality. From the data comparisons between measurement and model simulation in fish aquaculture site, the difference of parameters is less than 2% and the correlation coefficient is at least 98.34%. The solubility rate of oxygen decreases exponentially with the elevation of water temperature. The correlation coefficient is 98.98%.

Keywords: aquaculture, sensor, ammonia, dissolved oxygen

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Authors: Stanley Yap, Patrick Kee Peng Kong, Chong Wei Ying, Leow Hon Wei

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Purpose: This study examines the comprehensive household retirement planning based on the level of financial literacy in Malaysia. Sufficient financial literacy is essential to make financial decision on Malaysian household retirement planning. Design/Methodology/Approach: Numerous measurements consist of present value of total retirement fund needed, future value of the expenses and inflation-adjusted interest rate are used in this paper. Therefore, we are able to identify the retirement gap that needs to be considered immediately. Findings: Our results show, firstly, adequate financial literacy is vital to achieve long term household retirement planning. Secondly, there is no retirement gap where the future value of the existing financial assets is greater than the lump sum needs during retirement phase. Thirdly, financial assets should be prepared in early age to accumulate substantial funding to support household retirement life. Practical Implications: The outcomes benefit to retiree and working adults. It highlights the importance of financial literacy to retirement planning. It is also a milestone for Malaysian to achieve developed country if Malaysian has sufficient retirement funding. Originality/Value: There is currently lack of in-depth research on financial literacy related to household retirement planning. Further, the paper also focusses on financial literacy, as a means to assist those in funding retirement resources, in order to fulfil the retirement gap.

Keywords: financial literacy, retirement planning, retirement resources, retirement gap, Malaysian household

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Authors: O. O. Olawusi-Peters, K. I. Adejugbagbe

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The concentration of heavy metal (Cd, Pb, Fe, Zn, Cu) in Clarias gariepinus collected from fish markets; Fanibi (Station I) and Fiwasaye (Station II) in Akure metropolis, Ondo state, Nigeria were investigated to ascertain the safety for the consumers. 60 samples were collected from the two markets in three batches (I, II, III) for a period of six months and analyzed for heavy metals in the gills and muscles of the fish. Also, the Health Risk Index (HRI) was used to determine the health risk of these metals to the consumer. The results showed that the investigated metal concentration was higher in station I than station II, except Pb having higher concentration in station II than station I. In both stations, the highest concentration of Fe was recorded in the gills (12.60 ± 1.51; 6.94 ± 1.38) and muscles (3.72 ± 0.09; 3.86 ± 0.33) of samples in batch I. Also, the HRI revealed that consumption of Clarias gariepinus from these study areas did not pose any health risk (HRI < 1). In addition, concentrations of the heavy metals were all below the permissible limits recommended by FAO/WHO.

Keywords: health risk index, heavy metals, clarias gariepinus, akure metropolis, fish monger

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Authors: Beata Kaczmarek-Szczepańska, Lidia Zasada

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Marine collagens such as fish skin, bone, cartilage, and scales, including both marine vertebrates and invertebrates sources, are more bioavailable compared to bovine or porcine collagen and have a higher absorption capability and more rapid bloodstream circulation due to their low molecular weight and small particle size. Fish skin may be used as a source of bioactive compounds. The advantage is that fish skin is a by-product of the food industry. The subject of the study is a lyophilizate consisting of a mixture of compounds from the group of glycosaminoglycans and collagen obtained as a result of processing fish skins. Bioactive compounds may find biomedical use in the production of dressing materials for wounds or in tissue engineering for the production of scaffolds for cells. Collagen and glycosaminoglycans were isolated from Salmo salar skin. The final mixture was obtained by the freeze-drying method. In the obtained lyophilizate, the content of amino acids was studied as well as the presence of polysaccharides. The studies showed the presence of glycine, proline, and hydroxyproline, which are the main amino acids of collagen. The HPLC analysis showed the presence of glucose which is a product of polysaccharides hydrolyzation and then reduction of glucuronic acid. It may be assumed that the lyophilizate contains both collagen and polysaccharide, which is probably hyaluronic acid. Acknowledgment: This work was carried out as a result of research project no. TANGO-V-A/0020/2021 financed by the National Centre for Research and Development.

Keywords: collagen, glycosaminoglycans, bioactive compounds, fish skin

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Authors: Tomas Makaras, Julija Razumienė, Vidutė Gurevičienė, Gintarė Sauliutė, Milda Stankevičiūtė

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Stress responses represent animal’s natural reactions to various challenging conditions and could be used as a welfare indicator. Regardless of the wide use of glucose measurements in stress evaluation, there are some inconsistencies in its acceptance as a stress marker, especially when it comes to comparison with non-invasive cortisol measurements in the fish challenging stress. To meet the challenge and to test the reliability and applicability of glucose measurement in practice, in this study, different environmental/anthropogenic exposure scenarios were simulated to provoke chemical-induced stress in fish (14-days exposure to landfill leachate) followed by a 14-days stress recovery period and under the cumulative effect of leachate fish subsequently exposed to pathogenic oomycetes (Saprolegnia parasitica) to represent a possible infection in fish. It is endemic to all freshwater habitats worldwide and is partly responsible for the decline of natural freshwater fish populations. Brown trout (Salmo trutta fario) and sea trout (Salmo trutta trutta) juveniles were chosen because of a large amount of literature on physiological stress responses in these species was known. Glucose content in fish by applying invasive and non-invasive glucose measurement procedures in different test mediums such as fish blood, gill tissues and fish-holding water were analysed. The results indicated that the quantity of glucose released in the holding water of stressed fish increased considerably (approx. 3.5- to 8-fold) and remained substantially higher (approx. 2- to 4-fold) throughout the stress recovery period than the control level suggesting that fish did not recover from chemical-induced stress. The circulating levels of glucose in blood and gills decreased over time in fish exposed to different stressors. However, the gill glucose level in fish showed a decrease similar to the control levels measured at the same time points, which was found to be insignificant. The data analysis showed that concentrations of β-D glucose measured in gills of fish treated with S. parasitica differed significantly from the control recovery, but did not differ from the leachate recovery group showing that S. parasitica presence in water had no additive effects. In contrast, a positive correlation between blood and gills glucose were determined. Parallel trends in blood and water glucose changes suggest that water glucose measurement has much potency in predicting stress. This study demonstrated that measuring β-D-glucose in fish-holding water is not stressful as it involves no handling and manipulation of an organism and has critical technical advantages concerning current (invasive) methods, mainly using blood samples or specific tissues. The quantification of glucose could be essential for studies examining the stress physiology/aquaculture studies interested in the assessment or long-term monitoring of fish health.

Keywords: brown trout, landfill leachate, sea trout, pathogenic oomycetes, β-D-glucose

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Authors: Maria Reznakova, Michala Strnadova, Lukas Reznak

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Successful achievement of strategic goals requires an effective performance management system, i.e. determining the appropriate indicators measuring the rate of goal achievement. Assuming that the goal of the owners is to grow the assets they invested in, it is vital to identify the key performance indicators, which contribute to value creation. These indicators are known as value drivers. Based on the undertaken literature search, a value driver is defined as any factor that affects the value of an enterprise. The important factors are then monitored by both financial and non-financial indicators. Financial performance indicators are most useful in strategic management, since they indicate whether a company's strategy implementation and execution are contributing to bottom line improvement. Non-financial indicators are mainly used for short-term decisions. The identification of value drivers, however, is problematic for companies which are not publicly traded. Therefore financial ratios continue to be used to measure the performance of companies, despite their considerable criticism. The main drawback of such indicators is the fact that they are calculated based on accounting data, while accounting rules may differ considerably across different environments. For successful enterprise performance management it is vital to avoid factors that may reduce (or even destroy) its value. Among the known factors reducing the enterprise value are the lack of capital, lack of strategic management system and poor quality of production. In order to gain further insight into the topic, the paper presents results of the research identifying factors that adversely affect the performance of mechanical engineering enterprises in the Czech Republic. The research methodology focuses on both the qualitative and the quantitative aspect of the topic. The qualitative data were obtained from a questionnaire survey of the enterprises senior management, while the quantitative financial data were obtained from the Analysis Major Database for European Sources (AMADEUS). The questionnaire prompted managers to list factors which negatively affect business performance of their enterprises. The range of potential factors was based on a secondary research – analysis of previously undertaken questionnaire surveys and research of studies published in the scientific literature. The results of the survey were evaluated both in general, by average scores, and by detailed sub-analyses of additional criteria. These include the company specific characteristics, such as its size and ownership structure. The evaluation also included a comparison of the managers’ opinions and the performance of their enterprises – measured by return on equity and return on assets ratios. The comparisons were tested by a series of non-parametric tests of statistical significance. The results of the analyses show that the factors most detrimental to the enterprise performance include the incompetence of responsible employees and the disregard to the customers‘ requirements.

Keywords: business value, financial ratios, performance measurement, value drivers

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Authors: Sibel Kurt

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In this study, with the use of Goffee and Jones’s corporate culture classification and the scale of this classification, there aimed to analyze a company’s corporate culture which does not have a public relations or communication department. First of all, the type of corporate culture in the company had been determined. Then it questioned if there are subcultures which formed according to demographics or the department of work. In the survey questionnaire, there are 53 questions total. 6 of these questions are about demographics, and 47 of them are about corporate culture. 152 personnel of the company had answered the survey, and the data have been evaluated according to frequency, descriptive, and compare means tests. The type of corporate culture of the company was determined as the 'communal' from the typology of Goffee and Jones in the positive form. There are no subcultures in the company which bases on the demographics, but only one subculture has determined according to the department of work. As a result, the absence of public relations department, personnel’s low level of awareness about corporate culture, and the lack of information between management and employees has been revealed.

Keywords: corporate culture, subculture, public relations, organizational communication

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Authors: Seedwell Sithole

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One of the persistent problems in accounting education is how to effectively support students’ learning. A promising technique to this issue is to investigate the extent that learning is determined by the design of instructional material. This study examines the academic performance of students using three instructional designs in financial accounting. Student’s performance scores and reported mental effort ratings were used to determine the instructional effectiveness. The findings of this study show that accounting students prefer graph and text designs that are integrated. The results suggest that spatially separated graph and text presentations in accounting should be reorganized to align with the requirements of human cognitive architecture.

Keywords: accounting, cognitive load, education, instructional preferences, students

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Authors: Ibrahim Ali, Adamu Danlami Ahmed

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This study examines the impact of depreciation on taxable income and financial performance of consumer goods companies quoted on the Nigerian stock exchange. The study adopts ex-post factor research design. Data were collected using a secondary source. The findings of the study suggest that, method of depreciation adopted in any organization influence the taxable profit. Depreciation techniques can either be: depressive, accelerative and linear depreciation. It was also recommended that consumer goods should adjust their method of depreciation to make sure an appropriate method is adopted. This will go a long way to revitalize their taxable profit.

Keywords: accelerated, linear, depressive, depreciation

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Authors: Yen Sun, Pariang Siagian

Abstract:

The aim of this paper is to examine the progress of financial inclusion in Indonesia. The object of this paper is Micro Enterprises (MEs) and methodology used will be qualitative method by using surveys and questionnaires. The results show that there are still 20% MEs have no banking facilities at all and about 78% MEs still use their own capital to run their business. Furthermore, personal characteristics such as gender and education are factors that can explain financial inclusion. It is also said that in general MEs need banking product and services. However, there are still barriers that hinder them to be financially included. The most barriers they have to face are marketing exclusion. It shows that they have lack information about banking product and services since marketing strategy from bank is not disseminated clearly through various media.

Keywords: financial inclusion, financial exclusion, micro enterprises, Indonesia

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Authors: Upasana Ranjib

Abstract:

Sports psychology, as a niche area, has, since the last two decades, found for itself a space within the outer peripheries of the discipline of traditional psychology. It has aimed to understand the many variables that push athletes to enhance their performances. While sociological aspects have been duly represented in academia, little has been written about the role of culture in shaping the psyche of athletes. The impact that cultures of different communities and societies have towards specifics like gender, castes, religion and race and how that helps evolve an individual has not been fully addressed. In the case of Sport, culture has made itself felt in the form of stereotypes, traditional outlooks towards sects and its implication on the engagement with sports. Culture is an environment that an individual imbibes. It is what shapes him, physically as well as mentally. Their nurture and nature both stem from it and depend on it. To realize the linkages between their nurture, nature and sports efficiency, cultural studies must collaborate in scholarship with psychology and practical sports. Cultural sports psychology would allow sports psychologists, coaches and even athletes themselves to understand the behavioural variations that affect their performance. The variations in the performance of athletes from different cultures and countries could be attributed to their socio-political, economic and environmental differences. These cultural influences shape and impact the athlete's behaviour and might lead as a gateway to understanding their skill sets and internal motivational factors. With that knowledge in mind, this paper aims to understand and reflect on how, in the present times of heavy sporting competition, shifting cultural equations and changing world dynamics, it is mandatory to infuse Cultural Studies with Sports Psychology to understand how Sports Psychologists can help and augment the performances of athletes.

Keywords: sporting performance, Asian sports, sports psychology, cultural psychology, society

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