Search results for: unfair competition
548 The Economic Implications of Cryptocurrency and Its Potential to Disrupt Traditional Financial Systems as a Store of Value
Authors: G. L. Rithika, Arvind B. S., Akash R., Ananda Vinayak, Hema M. S.
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Cryptocurrencies were first launched in the year 2009 and have been a great asset to own. Cryptocurrencies are a representation of a completely distinct decentralization model for money. They also contribute to the elimination of currency monopolies and the liberation of money from control. The fact that no government agency can determine a coin's value or flow is what cryptocurrency advocates believe makes them safe and secure. The aim of this paper is to analyze the economic implications of cryptocurrency and how it would disrupt traditional financial systems. This paper analyses the growth of Cryptocurrency over the years and the potential threats of cryptocurrency to financial systems. Our analysis shows that although the DeFi design, like the traditional financial system, may have the ability to lower transaction costs, there are multiple layers where rents might build up because of endogenous competition limitations. The permissionless and anonymous design of DeFi poses issues for ensuring tax compliance, anti-money laundering laws and regulations, and preventing financial misconduct.Keywords: cryptocurrencies, bitcoin, blockchain technology, traditional financial systems, decentralisation, regulatory framework
Procedia PDF Downloads 50547 The Urban Project: Metropolization Tool and Sustainability Vector - Case of Constantine
Authors: Mouhoubi Nedjima, Sassi Boudemagh Souad, Chouabbia Khedidja
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Cities grow, large or small; they seek to gain a place in the market competition, which talks to sell a product that is the city itself. The metropolis are large cities enjoying a legal status and assets providing their dominions elements on a territory larger than their range, do not escape this situation. Thus, the search for promising tool metropolises better development and durability meet the challenges as economic, social and environmental is timely. The urban project is a new way to build the city; it is involved in the metropolises of two ways, either to manage the crisis and to meet the internal needs of the metropolis, or by creating a regional attractiveness with their potential. This communication will address the issue of urban project as a tool that has and should find a place in the panoply of existing institutional tools. Based on the example of the modernization project of the metropolis of eastern Algeria "Constantine", we will examine what the urban project can bring to a city, the extent of its impact but also the relationship between the visions actors so metropolization a success.Keywords: urban project, metropolis, institutional tools, Constantine
Procedia PDF Downloads 403546 Analysis of the Interference from Risk-Determining Factors of Cooperative and Conventional Construction Contracts
Authors: E. Harrer, M. Mauerhofer, T. Werginz
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As a result of intensive competition, the building sector is suffering from a high degree of rivalry. Furthermore, there can be observed an unbalanced distribution of project risks. Clients are aimed to shift their own risks into the sphere of the constructors or planners. The consequence of this is that the number of conflicts between the involved parties is inordinately high or even increasing; an alternative approach to counter on that developments are cooperative project forms in the construction sector. This research compares conventional contract models and models with partnering agreements to examine the influence on project risks by an early integration of the involved parties. The goal is to show up deviations in different project stages from the design phase to the project transfer phase. These deviations are evaluated by a survey of experts from the three spheres: clients, contractors and planners. By rating the influence of the participants on specific risk factors it is possible to identify factors which are relevant for a smooth project execution.Keywords: building projects, contract models, partnering, project risks
Procedia PDF Downloads 275545 Garment Industry Development in South East Asia and Competitiveness
Authors: P. Nayak, Shakeel Shaikh
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In this paper, we analyse the apparel export performance of Southeast Asian Nations (ASEAN) in the world market. The study covers the 2003-2012 period at the sector as well as product levels (6 digit HS) and analysis is based HS 2002 nomenclature. We measure export similarity among Southeast Asian nations for the apparel sector (two digit HS-61 & 62), besides analysing the products performance in the world through Revealed Comparative Advantage (RCA) technique. Coupled with RCA, the price as a factor of competitiveness was examined from the available Unit Value Realizations (UVR). Further to this, the resource availability or outsourced from the region was considered as an extension to the analysis of competitiveness between the nations. With the help of these methodologies, we examine the degree of competition between the exports of southeast nations in the world market. Our results show that Cambodia, Indonesia, Thailand, and Vietnam are well performing states within ASEAN. The paper further delves into sustainability of the export performing countries within ASEAN.Keywords: export competitiveness, export similarity index, revealed comparative advantage, unit value realisation
Procedia PDF Downloads 285544 The Change in Management Accounting from an Institutional and Contingency Perspective. A Case Study for a Romanian Company
Authors: Gabriel Jinga, Madalina Dumitru
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The objective of this paper is to present the process of change in management accounting in Romania, a former communist country from Eastern Europe. In order to explain this process, we used the contingency and institutional theories. We focused on the following directions: the presentation of the scientific context and motivation of this research and the case study. We presented the state of the art in the process of change in the management accounting from the international and national perspective. We also described the evolution of management accounting in Romania in the context of economic and political changes. An important moment was the fall of communism in 1989. This represents a starting point for a new economic environment and for new management accounting. Accordingly, we developed a case study which presented this evolution. The conclusion of our research was that the changes in the management accounting system of the company analysed occurred in the same time with the institutionalisation of some elements (e.g. degree of competition, training and competencies in management accounting). The management accounting system was modelled by the contingencies specific to this company (e.g. environment, industry, strategy).Keywords: management accounting, change, Romania, contingency and institutional theory
Procedia PDF Downloads 421543 Intellectual Capital, Knowledge Management, and the Leader Role in the Construction of Sustainability
Authors: Leandro da S. Nascimento, Maristela J. Melo
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The increased competition in the globalization drives organizations to innovate in their products and services to remain competitive. Innovation and creativity are incorporated as key aspects to creating value for consumers and for the creation of competitive advantage in organizations. However, there are factors that contribute strong with development of innovation and creation in organizations. These factors are the intellectual capital and knowledge management, which together with sustainability, ensure the development of competitive strategies. However, it is understood that the role of the leader is essential to stimulate the development of human capital, because the human capital is essential for organizations of knowledge. It is the leader who drives the dissemination and sharing of knowledge, an essential aspect for the formation of intellectual capital and therefore should be managed. And it turns out that the management of knowledge through intellectual capital allows the development of environmental initiatives efficiently and effectively. Thus, the research demonstrates the importance of the role of leader / manager in organizations and seeks to analyze how managers can contribute to the adoption of sustainability through intellectual capital and knowledge management.Keywords: intellectual capital, knowledge management, leadership role, sustainability
Procedia PDF Downloads 496542 The New Universities Law in Saudi Arabia, Bath to Develop the Higher Education in the Kingdom
Authors: Gassrm Alfaleh
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The new Law of Universities has many goals, one of them is how each university can be independent financially and educationally. Another goal is to open doors for foreign universities to open branches in the kingdom. This paper focuses on how these goals can create competition between local and foreign universities. And how this new law can bring significant changes in the Kingdom’s higher education sector. The methodology of this study is to compare the new Saudi law to another legal system, especially in Australia. And how this new law can affect the higher education environment and Saudi culture. It covers the view of other different legal jurisdictions and compares it to this new law. The major findings are that the new law of universities can give a chance to Saudi universities to achieve their goals based on empowerment, quality, and participate in developing the educational and research methods. It may allow universities to start their own resources, permit them to create endowments and companies, and may allow them to create their degrees and programs. It will help those universities to increase the efficiency of spending, developing financial resources, and human capabilities for universities in line with the Kingdom’s Vision 2030. As a result, this paper states whether this new law can improve higher education in the kingdom of Saudi Arabia.Keywords: law, education, Saudi legal system, university
Procedia PDF Downloads 143541 Biological Treatment of Tannery Wastewater Using Pseudomonas Strains
Authors: A. Benhadji, R. Maachi
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Environmental protection has become a major economic development issues. Indeed, the environment has become both market growth factor and element of competition. It is now an integral part of all industrial strategies. Ecosystem protection is based on the reduction of the pollution load in the treatment of liquid waste. The physicochemical techniques are commonly used which a transfer of pollution is generally found. Alternative to physicochemical methods is the use of microorganisms for cleaning up the waste waters. The objective of this research is the evaluation of the effects of exogenous added Pseudomonas strains on pollutants biodegradation. The influence of the critical parameters such as inoculums concentration and duration treatment are studied. The results show that Pseudomonas putida is found to give a maximum reduction in chemical organic demand (COD) in 4 days of incubation. However, toward to protect biological pollution of environment, the treatment is achieved by electro coagulation process using aluminium electrodes. The results indicate that this process allows disinfecting the water and improving the electro coagulated sludge quality.Keywords: tannery, pseudomonas, biological treatment, electrocoagulation process, sludge quality
Procedia PDF Downloads 368540 Machine Learning Framework: Competitive Intelligence and Key Drivers Identification of Market Share Trends among Healthcare Facilities
Authors: Anudeep Appe, Bhanu Poluparthi, Lakshmi Kasivajjula, Udai Mv, Sobha Bagadi, Punya Modi, Aditya Singh, Hemanth Gunupudi, Spenser Troiano, Jeff Paul, Justin Stovall, Justin Yamamoto
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The necessity of data-driven decisions in healthcare strategy formulation is rapidly increasing. A reliable framework which helps identify factors impacting a healthcare provider facility or a hospital (from here on termed as facility) market share is of key importance. This pilot study aims at developing a data-driven machine learning-regression framework which aids strategists in formulating key decisions to improve the facility’s market share which in turn impacts in improving the quality of healthcare services. The US (United States) healthcare business is chosen for the study, and the data spanning 60 key facilities in Washington State and about 3 years of historical data is considered. In the current analysis, market share is termed as the ratio of the facility’s encounters to the total encounters among the group of potential competitor facilities. The current study proposes a two-pronged approach of competitor identification and regression approach to evaluate and predict market share, respectively. Leveraged model agnostic technique, SHAP, to quantify the relative importance of features impacting the market share. Typical techniques in literature to quantify the degree of competitiveness among facilities use an empirical method to calculate a competitive factor to interpret the severity of competition. The proposed method identifies a pool of competitors, develops Directed Acyclic Graphs (DAGs) and feature level word vectors, and evaluates the key connected components at the facility level. This technique is robust since its data-driven, which minimizes the bias from empirical techniques. The DAGs factor in partial correlations at various segregations and key demographics of facilities along with a placeholder to factor in various business rules (for ex. quantifying the patient exchanges, provider references, and sister facilities). Identified are the multiple groups of competitors among facilities. Leveraging the competitors' identified developed and fine-tuned Random Forest Regression model to predict the market share. To identify key drivers of market share at an overall level, permutation feature importance of the attributes was calculated. For relative quantification of features at a facility level, incorporated SHAP (SHapley Additive exPlanations), a model agnostic explainer. This helped to identify and rank the attributes at each facility which impacts the market share. This approach proposes an amalgamation of the two popular and efficient modeling practices, viz., machine learning with graphs and tree-based regression techniques to reduce the bias. With these, we helped to drive strategic business decisions.Keywords: competition, DAGs, facility, healthcare, machine learning, market share, random forest, SHAP
Procedia PDF Downloads 91539 The Barriers in the Adoption of E-readiness and Affective E-Business of Developing Countries: From the Prospective of Pakistani Organizations
Authors: Asma Moomal, Maslin Masrom
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The literature has identified that the competition among the business firms has been intensified due to the change in operating environment such as; knowledge diffusion, amount of R&D investments, and the adoption of technological innovation. Correspondingly, the E-business has potential to add a higher value to business and consumers in developed countries than in developing countries. However, the technological innovation (such as e-readiness) also considered as the major influential element on the firms competitiveness and development, Yet most of the developing countries including Pakistan failed to reap the benefits offered by modern information and communication technologies adoption (e-readiness), e-business and other innovative technologies. Thus, this paper reviewed the relevant literature in order to examine the barriers to the adoption of e-readiness and e-business in the organizations of Pakistan. The data collection technique used in this study was done through the secondary data resources (i.e. the existing literature analysis). The result of the study reveals that the most of the organizations of Pakistan like other developing countries are lagging behind in terms of adoption of e-readiness and e-business as compared to the developed countries of the world.Keywords: e-readiness, e-business, potential, technological innovation
Procedia PDF Downloads 523538 Gamification Using Stochastic Processes: Engage Children to Have Healthy Habits
Authors: Andre M. Carvalho, Pedro Sebastiao
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This article is based on a dissertation that intends to analyze and make a model, intelligently, algorithms based on stochastic processes of a gamification application applied to marketing. Gamification is used in our daily lives to engage us to perform certain actions in order to achieve goals and gain rewards. This strategy is an increasingly adopted way to encourage and retain customers through game elements. The application of gamification aims to encourage children between 6 and 10 years of age to have healthy habits and the purpose of serving as a model for use in marketing. This application was developed in unity; we implemented intelligent algorithms based on stochastic processes, web services to respond to all requests of the application, a back-office website to manage the application and the database. The behavioral analysis of the use of game elements and stochastic processes in children’s motivation was done. The application of algorithms based on stochastic processes in-game elements is very important to promote cooperation and to ensure fair and friendly competition between users which consequently stimulates the user’s interest and their involvement in the application and organization.Keywords: engage, games, gamification, randomness, stochastic processes
Procedia PDF Downloads 331537 Isolation and Identification of Low-Temperature Tolerant-Yeast Strains from Apple with Biocontrol Activity
Authors: Lachin Mikjtarnejad, Mohsen Farzaneh
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Various microbes, such as fungi and bacteria species, are naturally found in the fruit microbiota, and some of them act as a pathogen and result in fruit rot. Among non-pathogenic microbes, yeasts (single-celled microorganisms belonging to the fungi kingdom) can colonize fruit tissues and interact with them without causing any damage to them. Although yeasts are part of the plant microbiota, there is little information about their interactions with plants in comparison with bacteria and filamentous fungi. According to several existing studies, some yeasts can colonize different plant species and have the biological control ability to suppress some of the plant pathogens. It means those specific yeast-colonized plants are more resistant to some plant pathogens. The major objective of the present investigation is to isolate yeast strains from apple fruit and screen their ability to control Penicillium expansum, the causal agent of blue mold of fruits. In the present study, psychrotrophic and epiphytic yeasts were isolated from apple fruits that were stored at low temperatures (0–1°C). Totally, 42 yeast isolates were obtained and identified by molecular analysis based on genomic sequences of the D1/D2 and ITS1/ITS4 regions of their rDNA. All isolated yeasts were primarily screened by' in vitro dual culture assay against P. expansum by measuring the fungus' relative growth inhibition after 10 days of incubation. The results showed that the mycelial growth of P. expansum was reduced between 41–53% when challenged by promising yeast strains. The isolates with the strongest antagonistic activity belonged to Metschnikowia pulcherrima A13, Rhodotorula mucilaginosa A41, Leucosporidium Scottii A26, Aureobasidium pullulans A19, Pichia guilliermondii A32, Cryptococcus flavescents A25, and Pichia kluyveri A40. The results of seven superior isolates to inhibit blue mold decay on fruit showed that isolates A. pullulans A19, L. scottii A26, and Pi. guilliermondii A32 could significantly reduce the fruit rot and decay with 26 mm, 22 mm and 20 mm zone diameter, respectively, compared to the control sample with 43 mm. Our results show Pi. guilliermondii strain A13 was the most effective yeast isolates in inhibiting P. expansum on apple fruits. In addition, various biological control mechanisms of promising biological isolates against blue mold have been evaluated to date, including competition for nutrients and space, production of volatile metabolites, reduction of spore germination, production of siderophores and production of extracellular lytic enzymes such as chitinase and β-1,3-glucanase. However, the competition for nutrients and the ability to inhibit P. expansum spore growth have been introduced as the prevailing mechanisms among them. Accordingly, in our study, isolates A13, A41, A40, A25, A32, A19 and A26 inhibited the germination of P. expansum, whereas isolates A13 and A19 were the strongest inhibitors of P. expansum mycelia growth, causing 89.13% and 81.75 % reduction in the mycelial surface, respectively. All the promising isolates produced chitinase and β-1,3-glucanase after 3, 5 and 7 days of cultivation. Finally, based on our findings, we are proposing that, Pi. guilliermondiias as an effective biocontrol agent and alternative to chemical fungicides to control the blue mold of apple fruit.Keywords: yeast, yeast enzymes, biocontrol, post harvest diseases
Procedia PDF Downloads 127536 Logistic and Its Importance in Turkish Food Sector and an Analysis of the Logistics Sector in Turkey
Authors: Şule Turhan, Özlem Turan
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Permanence in the international markets for many global companies is about being known as having effective logistics which targets customer satisfaction management and lower costs. Under competitive conditions, the necessity of providing the products to customers quickly and on time for the companies which constantly aim to improve their profitability increased the strategic importance of the logistics concept. Food logistic is one of the most difficult areas in logistics. In the process from manufacturer to final consumer, quality and hygiene standards must be provided constantly. In food logistics, reliable and extensive service network has great importance and on time delivery is the target. Developing logistics industry provide the supply of foods in the country and the development of export markets more quickly and has an important role in providing added value to the country's economy. Turkey that creates a bridge between the east and the west is an attractive market for logistics companies. In this study, by examining both the place and the importance of logistics in Turkish food sector, recommendations will be made for the food industry.Keywords: logistics, Turkish food industry, competition, food industry
Procedia PDF Downloads 371535 Drivers of Digital Product Innovation in Firms: An Empirical Study of Technological, Organizational, and Environmental Factors
Authors: Anne Theresa Eidhoff, Sarah E. Stief, Markus Voeth, Sarah Gundlach
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With digitalization increasingly changing the rules of competition, firms face the need to adapt and assimilate digital technologies in order to remain competitive. Firms can choose from various possibilities to integrate digital technologies including the option to embed digital technologies aiming to innovate products or to develop digital products. However, the question of which specific factors influence a firm’s decision to pursue digital product innovation remains unanswered in research. By adopting the Technology-Organization-Environment (TOE)-framework we have designed a qualitative exploratory study including eleven German practitioners to investigate relevant contingency factors. Our results indicate that the most critical factors for a company’s decision to pursue digital product innovation can be found in the technological and environmental dimensions, namely customers, competitive pressure, technological change, as well as digitalization fit.Keywords: digital innovation, digitalization, product innovation, TOE-framework
Procedia PDF Downloads 482534 Design Modification in CNC Milling Machine to Reduce the Weight of Structure
Authors: Harshkumar K. Desai, Anuj K. Desai, Jay P. Patel, Snehal V. Trivedi, Yogendrasinh Parmar
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The need of continuous improvement in a product or process in this era of global competition leads to apply value engineering for functional and aesthetic improvement in consideration with economic aspect too. Solar industries located at G.I.D.C., Makarpura, Vadodara, Gujarat, India; a manufacturer of variety of CNC Machines had a challenge to analyze the structural design of column, base, carriage and table of CNC Milling Machine in the account of reduction of overall weight of a machine without affecting the rigidity and accuracy at the time of operation. The identified task is the first attempt to validate and optimize the proposed design of ribbed structure statically using advanced modeling and analysis tools in a systematic way. Results of stress and deformation obtained using analysis software are validated with theoretical analysis and found quite satisfactory. Such optimized results offer a weight reduction of the final assembly which is desired by manufacturers in favor of reduction of material cost, processing cost and handling cost finally.Keywords: CNC milling machine, optimization, finite element analysis (FEA), weight reduction
Procedia PDF Downloads 277533 A Robust Optimization Method for Service Quality Improvement in Health Care Systems under Budget Uncertainty
Authors: H. Ashrafi, S. Ebrahimi, H. Kamalzadeh
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With the development of business competition, it is important for healthcare providers to improve their service qualities. In order to improve service quality of a clinic, four important dimensions are defined: tangibles, responsiveness, empathy, and reliability. Moreover, there are several service stages in hospitals such as financial screening and examination. One of the most challenging limitations for improving service quality is budget which impressively affects the service quality. In this paper, we present an approach to address budget uncertainty and provide guidelines for service resource allocation. In this paper, a service quality improvement approach is proposed which can be adopted to multistage service processes to improve service quality, while controlling the costs. A multi-objective function based on the importance of each area and dimension is defined to link operational variables to service quality dimensions. The results demonstrate that our approach is not ultra-conservative and it shows the actual condition very well. Moreover, it is shown that different strategies can affect the number of employees in different stages.Keywords: allocation, budget uncertainty, healthcare resource, service quality assessment, robust optimization
Procedia PDF Downloads 185532 How to Modernise the ECN
Authors: Dorota Galeza
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This paper argues that networks, such as the ECN and the American network, are affected by certain small events which are inherent to path dependence and preclude the full evolution towards efficiency. It is advocated that the American network is superior to the ECN in many respects due to its greater flexibility and longer history. This stems in particular from the creation of the American network, which was based on a small number of cases. Such structure encourages further changes and modifications which are not necessarily radical. The ECN, by contrast, was established by legislative action, which explains its rigid structure and resistance to change. It might be the case that the ECN is subject not so much to path dependence but to past dependence. It might have to be replaced, as happened to its predecessor. This paper is an attempt to transpose the superiority of the American network on to the ECN. It looks at concepts such as judicial cooperation, harmonization of procedure, peer review and regulatory impact assessments (RIAs), and dispute resolution procedures. The aim is to adopt these concepts into the EU setting without recourse to legal transplantation. The major difficulty is that many of these concepts have been tested only in the US and it is difficult to tell whether they could be modified to meet EU standards. Concepts such as judicial cooperation might be difficult due to different language traditions in EU member states. It is hoped that greater flexibility, as in the American network, would boost legitimacy and transparency.Keywords: ECN, networks, regulation, competition
Procedia PDF Downloads 428531 Development of Educational Institutions in Afghanistan and Especially in the Region of “Herat” Opportunities and Challenges
Authors: Sayed Jamal Ud Din Heravi
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The development of educational institutions has an important role in the progress and advancement of the state, in the stability and security of the state and its exposure, in the flourishing of minds, in devoting the role of science, developing society, and meeting people’s desires and needs. Afghanistan is a Muslim country located in Central Asia on the borders of Pakistan, Iran, Tajikistan, and Uzbekistan, and it also borders China's Xing yang. Unfortunately, these oppressed people have been living in wars that have been going on for four decades, in which educational institutions, schools and institutes have not developed. Rather, the war destroyed the infrastructure of this country, and no city or village remained in it but tasted the bloody wars. Now with the new government, we see that many government educational institutions are closed in this country, even if the state promises that it will open them quickly. As for universities and private institutions, they work in Afghanistan diligently and diligently, and among them, there is sharp competition in the use of professors and taking advantage of the available means for the sake of knowledge. It laid the building blocks for a bright dawn in which it seeks to keep pace with the procession of development and prosperity in the world.Keywords: Afghanistan, higher education, Herat province, opportunities, challenges
Procedia PDF Downloads 119530 A Geospatial Consumer Marketing Campaign Optimization Strategy: Case of Fuzzy Approach in Nigeria Mobile Market
Authors: Adeolu O. Dairo
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Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.Keywords: geospatial, geo-analytics, self-organizing map, customer-centric
Procedia PDF Downloads 183529 The Superior Performance of Investment Bank-Affiliated Mutual Funds
Authors: Michelo Obrey
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Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market.Keywords: mutual fund performance, conflicts of interest, informational advantage, investment bank
Procedia PDF Downloads 189528 Response of Okra (Abelmoschus Esculentus (L). Moench) to Soil Amendments and Weeding Regime
Authors: Olusegun Raphael Adeyemi, Samuel Oluwaseun Osunleti, Abiddin Adekunle Bashiruddin
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Field trials were conducted in 2020 and 2021 at the Teaching and Research Farm of the Federal University of Agriculture Abeokuta, Ogun State, Nigeria to evaluate the effect of biochar application under different weeding regimes on growth and yield of okra. Treatments were laid out in split- plot in a randomized complete block design with three replications. Main plot treatments were three levels of biochar namely 0t/ha, 10t/ha and 20t/ha while sub-plots treatments consisted of four weeding regimes (weeding at 3, 6 and 9 WAS, weeding at 3 and 6 WAS, weeding at 3 WAS and weedy check as control). Data collected on growth and yield of okra, and weed parameters were subjected to analysis of variance and treatment means were separated using least significant difference at p < 0.05. Results showed that biochar applied at 20 t/ha increased okra yield by 47.5% compared to the control. Weeding at 3, 6 and 9 WAS gave the highest okra yield. Uncontrolled weed infestation throughout crop growth resulted in 87.3% yield reduction in okra. It is concluded that weed suppression , growth and yield of okra can be enhanced by the application of biochar at 20t/ha and weeding at 3, 6 and 9 WAS hence recommended.Keywords: biochar, okra, weeding, weed competition
Procedia PDF Downloads 60527 Unfolding the Social Clash between Online and Non-Online Transportation Providers in Bandung
Authors: Latifah Putti Tiananda, Sasti Khoirunnisa, Taniadiana Yapwito, Jessica Noviena
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Innovations are often met with two responses, acceptance or rejection. In the past few years, Indonesia is experiencing a revolution of transportation service, which utilizes online platform for its operation. Such improvement is welcomed by consumers and challenged by conventional or ‘non-online’ transportation providers simultaneously. Conflicts arise as the existence of this online transportation mode results in declining income of non-online transportation workers. Physical confrontations and demonstrations demand policing from central authority. However, the obscurity of legal measures from the government persists the social instability. Bandung, a city in West Java with the highest rate of online transportation usage, has recently issued a recommendation withholding the operation of online transportation services to maintain peace and order. Thus, this paper seeks to elaborate the social unrest between the two contesting transportation actors in Bandung and explore community-based approaches to solve this problem. Using qualitative research method, this paper will also feature in-depth interviews with directly involved sources from Bandung.Keywords: Bandung, market competition, online transportation services, social unrest
Procedia PDF Downloads 274526 Longitudinal Study of the Phenomenon of Acting White in Hungarian Elementary Schools Analysed by Fixed and Random Effects Models
Authors: Lilla Dorina Habsz, Marta Rado
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Popularity is affected by a variety of factors in the primary school such as academic achievement and ethnicity. The main goal of our study was to analyse whether acting white exists in Hungarian elementary schools. In other words, we observed whether Roma students penalize those in-group members who obtain the high academic achievement. Furthermore, to show how popularity is influenced by changes in academic achievement in inter-ethnic relations. The empirical basis of our research was the 'competition and negative networks' longitudinal dataset, which was collected by the MTA TK 'Lendület' RECENS research group. This research followed 11 and 12-year old students for a two-year period. The survey was analysed using fixed and random effect models. Overall, we found a positive correlation between grades and popularity, but no evidence for the acting white effect. However, better grades were more positively evaluated within the majority group than within the minority group, which may further increase inequalities.Keywords: academic achievement, elementary school, ethnicity, popularity
Procedia PDF Downloads 200525 Fusionopolis: The Most Decisive Economic Power Centers of the 21st Century
Authors: Norbert Csizmadia
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The 21st Century's main power centers are the cities. More than 52% of the world’s population lives in cities, in particular in the megacities which have a population over 10 million people and is still growing. According to various research and forecasts, the main economic concentration will be in 40 megacities and global centers. Based on various competitiveness analyzes and indices, global city centers, and city networks are outlined, but if we look at other aspects of urban development like complexity, connectivity, creativity, technological development, viability, green cities, pedestrian and child friendly cities, creative and cultural centers, cultural spaces and knowledge centers, we get a city competitiveness index with quite new complex indicators. The research shows this result. In addition to the megacities and the global centers, with the investigation of functionality, we got 64 so-called ‘fusiononopolis’ (i.e., fusion-polis) which stand for the most decisive economic power centers of the 21st century. In this city competition Asian centers considerably rise, as the world's functional city competitiveness index is being formed.Keywords: economic geography, human geography, technological development, urbanism
Procedia PDF Downloads 361524 Aiming at Optimization of Tracking Technology through Seasonally Tilted Sun Trackers: An Indian Perspective
Authors: Sanjoy Mukherjee
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Discussions on concepts of Single Axis Tracker (SAT) are becoming more and more apt for developing countries like India not just as an advancement in racking technology but due to the utmost necessity of reaching at the lowest Levelized Cost of Energy (LCOE) targets. With this increasing competition and significant fall in feed-in tariffs of solar PV projects, developers are under constant pressure to secure investment for their projects and eventually earn profits from them. Moreover, being the second largest populated country, India suffers from scarcity of land because of higher average population density. So, to mitigate the risk of this dual edged sword with reducing trend of unit (kWh) cost at one side and utilization of land on the other, tracking evolved as the call of the hour. Therefore, the prime objectives of this paper are not only to showcase how STT proves to be an effective mechanism to get more gain in Global Incidence in collector plane (Ginc) with respect to traditional mounting systems but also to introduce Seasonally Tilted Tracker (STT) technology as a possible option for high latitude locations.Keywords: tracking system, grid connected solar PV plant, CAPEX reduction, levelized cost of energy
Procedia PDF Downloads 257523 Response of Okra (Abelmoschus Esculentus (L). Moench) to Soil Amendments and Weeding Regime
Authors: Olusegun Raphael Adeyemi, Samuel Oluwaseun Osunleti, Abiddin Adekunle Bashiruddin
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Field trials were conducted in 2020 and 2021 at the Teaching and Research Farm of the Federal University of Agriculture Abeokuta, Ogun State, Nigeria, to evaluate the effect of biochar application under different weeding regimes on the growth and yield of okra. Treatments were laid out in a split- plot in a randomized complete block design with three replications. Main plot treatments were three levels of biochar, namely 0t/ha, 10t/ha and 20t/ha while sub-plot treatments consisted of four weeding regimes (weeding at 3, 6 and 9 WAS, weeding at 3 and 6 WAS, weeding at 3 WAS and weedy check as control). Data collected on growth and yield of okra and weed parameters were subjected to analysis of variance, and treatment means were separated using the least significant difference at p < 0.05. Results showed that biochar applied at 20 t/ha increased okra yield by 47.5% compared to the control. Weeding at 3, 6 and 9 WAS gave the highest okra yield. Uncontrolled weed infestation throughout crop growth resulted in an 87.3% yield reduction in okra. It is concluded that weed suppression, growth and yield of okra can be enhanced by the application of biochar at 20t/ha and weeding at 3, 6 and 9 WAS hence recommended.Keywords: biochar, okra, weeding, weed competition, yield
Procedia PDF Downloads 64522 Global Processes and Georgian Economic Policy
Authors: Anzor Abralava, Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze, Ketevan Kutateladze, Giorgi Sulashvili
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Nowadays when the integration of states is growing fast, it is urgent to study the rules of behavior which they resort to in case of conflicts and disagreements. The reason of disagreement in many ways is the Foreign policy carried out by separate countries, as the market participants define production and export capacity and structure as well as level of international division of labor due to the competition among them. We can say over and over again that outbreak of conflicts in Georgia displays the serious controversy between political and economic powerhouses. However, to tell the truth existence of the unsolved conflicts in Georgia is the result of weakness and inadequacy of Georgian politics. Today the main task of political quarters in Georgia should be a direction to Caucasus, as to the region burdened with the most complicated problems which blockade the settlement of conflicts and farther development of our country (or vice versa). In this situation rehabilitation of our authority, leading role and hegemony; expansion and consolidation of peacekeeping and other missions are considered as the exact activities for accomplishing all Georgian economic and political goals.Keywords: Awara Group, political centers, administrative services, dynamic process
Procedia PDF Downloads 277521 Structured Tariff Calculation to Promote Geothermal for Energy Security
Authors: Siti Mariani, Arwin DW Sumari, Retno Gumilang Dewi
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This paper analyzes the necessity of a structured tariff calculation for geothermal electricity in Indonesia. Indonesia is blessed with abundant natural resources and a choices of energy resources to generate electricity among other are coal, gas, biomass, hydro to geothermal, creating a fierce competition in electricity tariffs. While geothermal is inline with energy security principle and green growth initiative, it requires a huge capital funding. Geothermal electricity development consists of phases of project with each having its own financial characteristics. The Indonesian government has set a support in the form of ceiling price of geothermal electricity tariff by 11 U.S cents / kWh. However, the government did not set a levelized cost of geothermal, as an indication of lower limit capacity class, to which support is given. The government should establish a levelized cost of geothermal energy to reflect its financial capability in supporting geothermal development. Aside of that, the government is also need to establish a structured tariff calculation to reflect a fair and transparent business cooperation.Keywords: load fator, levelized cost of geothermal, geothermal power plant, structured tariff calculation
Procedia PDF Downloads 440520 Intellectual Capital Disclosure: A Study of Australia and Sri Lanka
Authors: Puwanenthiren Pratheepkanth
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This study considers whether national development level influences a firm’s voluntary intellectual capital disclosure (ICD) provided by a sample of 100 Australian and 100 Sri Lankan firms in terms of a two-years during 2015-16. This two-nation study uses a content analysis and literature-review analysis to provide an understanding of the underlying forces and issues. It was found that Australian firms tend to rely heavily on external structure disclosures (with particular attention to brands, customer loyalty, and research collaborations), but Sri Lankan relatively larger firms prefer intellectual property disclosures and the smaller firms tend to be as adept at external structure as their Australian counterparts. It was also found that the nature of a firm tends to trump the nurture of the development level of the country in which the firm is embedded. While a wider diffusion of better ICD methodology under International Financial Reporting Standard (IFRS) could improve the cost-effectiveness of financial reporting and generally increase efficiency, this is unlikely to occur until competition is more of a spur.Keywords: developed countries, developing countries, content analysis, intellectual capital disclosure
Procedia PDF Downloads 170519 Influence of Water Physicochemical Properties and Vegetation Type on the Distribution of Schistosomiasis Intermediate Host Snails in Nelson Mandela Bay
Authors: Prince S. Campbell, Janine B. Adams, Melusi Thwala, Opeoluwa Oyedele, Paula E. Melariri
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Schistosomiasis is an infectious water-borne disease that holds substantial medical and veterinary importance and is transmitted by Schistosoma flatworms. The transmission and spread of the disease are geographically and temporally confined to water bodies (rivers, lakes, lagoons, dams, etc.) inhabited by its obligate intermediate host snails and human water contact. Human infection with the parasite occurs via skin penetration subsequent to exposure to water infested with schistosome cercariae. Environmental factors play a crucial role in the spread of the disease, as the survival of intermediate host snails is dependent on favourable conditions. These factors include physical and chemical components of water, including pH, salinity, temperature, electrical conductivity, dissolved oxygen, turbidity, water hardness, total dissolved solids, and velocity, as well as biological factors such as predator-prey interactions, competition, food availability, and the presence and density of aquatic vegetation. This study evaluated the physicochemical properties of the water bodies, vegetation type, distribution, and habitat presence of the snail intermediate host. A quantitative cross-sectional research design approach was employed in this study. Eight sampling sites were selected based on their proximity to residential areas. Snails and water physicochemical properties were collected over different seasons for 9 months. A simple dip method was used for surface water samples and measurements were done using multiparameter meters. Snails captured using a 300 µm mesh scoop net and predominant plant species were gathered and transported to experts for identification. Vegetation composition and cover were visually estimated and recorded at each sampling point. Data was analysed using R software (version 4.3.1). A total of 844 freshwater snails were collected, with Physa genera accounting for 95.9% of the snails. Bulinus and Biomphalaria snails, which serve as intermediate hosts for the disease, accounted for (0.9%) and (0.6%) respectively. Indicator macrophytes such as Eicchornia crassipes, Stuckenia pectinate, Typha capensis, and floating macroalgae were found in several water bodies. A negative and weak correlation existed between the number of snails and physicochemical properties such as electrical conductivity (r=-0.240), dissolved oxygen (r=-0.185), hardness (r=-0.210), pH (r=-0.235), salinity (r=-0.242), temperature (r=-0.273), and total dissolved solids (r=-0.236). There was no correlation between the number of snails and turbidity (r=-0.070). Moreover, there was a negative and weak correlation between snails and vegetation coverage (r=-0.127). Findings indicated that snail abundance marginally declined with rising physicochemical concentrations, and the majority of snails were located in regions with less vegetation cover. The reduction in Bulinus and Biomphalaria snail populations may also be attributed to other factors, such as competition among the snails. Snails of the Physa genus were abundant due to their noteworthy resilience in difficult environments. These snails have the potential to function as biological control agents in areas where the disease is endemic, as they outcompete other snails, including schistosomiasis intermediate host snails.Keywords: intermediate host snails, physicochemical properties, schistosomiasis, vegetation type
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