Search results for: financial stress

Authors: Kwabena Asare, Ezekiel N. N. Nortey, Felix O. Mettle

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Modelling of extreme events has always been of interest in fields such as hydrology and meteorology. However, after the recent global financial crises, appropriate models for modelling of such rare events leading to these crises have become quite essential in the finance and risk management fields. This paper models the extreme values of the Ghana Stock Exchange All-Shares indices (2000-2010) by applying the Extreme Value Theory to fit a model to the tails of the daily stock returns data. A conditional approach of the EVT was preferred and hence an ARMA-GARCH model was fitted to the data to correct for the effects of autocorrelation and conditional heteroscedastic terms present in the returns series, before EVT method was applied. The Peak Over Threshold (POT) approach of the EVT, which fits a Generalized Pareto Distribution (GPD) model to excesses above a certain selected threshold, was employed. Maximum likelihood estimates of the model parameters were obtained and the model’s goodness of fit was assessed graphically using Q-Q, P-P and density plots. The findings indicate that the GPD provides an adequate fit to the data of excesses. The size of the extreme daily Ghanaian stock market movements were then computed using the Value at Risk (VaR) and Expected Shortfall (ES) risk measures at some high quantiles, based on the fitted GPD model.

Keywords: extreme value theory, expected shortfall, generalized pareto distribution, peak over threshold, value at risk

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Authors: Hasan Bulent Kantarci

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This paper examine how Zakat provide a fair income redistribution and struggle with poverty. To provide a fair income redistribution and struggle with poverty take place among the fundamental tasks of all countries. Each country seeks a solution for this problem according to their political, economical and administrative styles through applying various economic and financial policies. The same situation gets handled via zakat association in the Islam. Nowadays, we observe different versions of zakat in developed countries. The applications such as negative income tax denote merely a difference from the zakat being applied almost the same way under changed names. But the minimum values to donate the zakat (e.g. 85 gr. gold and 40 animals) get altered and various amounts are put into practice. It might be named as negative income tax instead of zakat, nonetheless, these applications are based on the Holy Koran and the hadith released 1400 years ago. Besides, considering the savage and slavery in the world at those times, we might easily recognize the true value of the zakat applied the first time then in Islamic system. Through zakat is enabled an income transfer by the government so that the poor could reach the minimum level of life standard. To whom the zakat would be donated was not left to people’s heart and encouraged to determine according to objective criteria. Since the zakat is obligatory, the transfer do not get forward by hand but via the government and get distributed, which requires a vast government organization. Through applying the zakat as it must be would achieve to reduce the poverty mostly and ensuring the fair income redistribution.

Keywords: Islamic finance, zakat, income redistribution, circle of poverty, negatif income tax

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Authors: Sarah Elmammeri

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This paper will represent the postcolonial every day in the journey of asylum seekers through the asylum process in the UK. It represents everyday borders, which are defined as everyday barriers, and obstacles facing asylum seekers and refugees in the host country. These everyday barriers can be legal, financial, social and educational under the umbrella of the racialized administrative border creating a package. The arguments build on a set of 21 semi-structured interviews in English and Arabic. The interviews were conducted in the UK, online via zoom lasting between 25 minutes and 2 hours with asylum seekers, refugees, Non-governmental organisations workers and volunteers. The interviews focus on the meaning of borders both physical and metaphorical and ways to challenge the ongoing postcolonial everyday border practices. The findings conclude that these barriers are there deliberately and intentionally to target asylum seekers and limit their legal right to claim asylum in a form of policy and regulations. People in the asylum process, NGO workers, and refugees relate to this aspect of the everyday borders. Second, these barriers come intertwined together creating a structure that interferes with the daily life of an asylum seeker and later affects people with refugee status creating racialised barriers starting with the structural and official form of it: the asylum process. These structural barriers will be linked forming a multi-level barrier enhancing the racialisation of people who are categorised and selected.

Keywords: everyday borders, asylum policies, inclusion and exclusion, refugees and asylum seekers

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Authors: Mohammad Namazi, Mohammad Sadeghzadeh Maharluie

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Predicting earnings management is vital for the capital market participants, financial analysts and managers. The aim of this research is attempting to respond to this query: Is there a significant difference between the regression model and neural networks’ models in predicting earnings management, and which one leads to a superior prediction of it? In approaching this question, a Linear Regression (LR) model was compared with two neural networks including Multi-Layer Perceptron (MLP), and Generalized Regression Neural Network (GRNN). The population of this study includes 94 listed companies in Tehran Stock Exchange (TSE) market from 2003 to 2011. After the results of all models were acquired, ANOVA was exerted to test the hypotheses. In general, the summary of statistical results showed that the precision of GRNN did not exhibit a significant difference in comparison with MLP. In addition, the mean square error of the MLP and GRNN showed a significant difference with the multi variable LR model. These findings support the notion of nonlinear behavior of the earnings management. Therefore, it is more appropriate for capital market participants to analyze earnings management based upon neural networks techniques, and not to adopt linear regression models.

Keywords: earnings management, generalized linear regression, neural networks multi-layer perceptron, Tehran stock exchange

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Authors: Aiza G. Clanor, Lotlot B. Hernandez, Jonna Marie T. Ibuna

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This study aimed to know the coping mechanisms of Batangueño families facing cancer, specifically, those from Cancer Warriors Foundation, Inc. Batangas chapter. The researchers used purposive sampling. This study was limited to the responses provided by the Batangueño families of the cancer patients. A family member of the immediate family with a child facing cancer represents the family as a whole. A total number of forty six (46) respondents were given the questionnaires. Upon analysis, most of the respondents came from rural areas and nuclear family and have Php 5000 and below family monthly income. Most of them have their own houses, and 3 to 5 members, one of whom is a cancer patient diagnosed for more than 2 years. The two most frequently utilized coping strategies were mobilizing the family to acquire and accept help, and reframing. Passive appraisal is the least utilized one. There was a significant difference on the coping mechanisms of the family relative to passive appraisal based on the length of time since the illness was first diagnosed. Based from the study, the researchers developed modules with discussions and activities on cancer awareness, ideas on coping and how to deal with the cancer patients that may help the respondents and other Batangueño families overcome the difficulties in facing cancer. The researchers recommend the modules for they are found to be effective ways to help the families relieve stress, reduce anxiety and improve quality of life.

Keywords: coping with chronic illness, family, psychology, cancer

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Authors: Raiya Kishwar Ashraf

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The National University, the largest public educational institution in Bangladesh, recently made it mandatory for all students to study a course in Bangladesh‘s history of the 1971 Liberation War. This introduction was accompanied by massive political, financial and academic movement that allocated resources towards achieving greater awareness of the country‘s spirit, goals of liberation and patriotism among the youth. This study argues that the infrastructure and political economy around the course heavily politicizes the education system and more specifically the teaching and learning the process. By conducting a qualitative study in three affiliated colleges under the National University, this study aimed to explore the extent to which politicization affected higher education curriculum, especially history education in Bangladesh. The findings revealed significant levels of politicization and structural constraints present in the process that restricts the teacher and student engagement with course materials. The results of this study are useful for curriculum designers and higher education teachers and staffs who wish to develop content and deliver education that promotes critical inquiry among students. The findings further shed light on the importance of identifying and addressing political influences in education curriculum and programme development.

Keywords: Bangladesh higher education, critical thinking, curriculum politicization, history curriculum, National University, teaching-learning method

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Authors: A. Baqqal, O. Abduhamid, H. Abdul-Hameed, T. Messager, G. Ayoub

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In this contribution, the effect of crystal content on the cyclic response of semi-crystalline polyethylene is studied over a large strain range. Experimental observations on a high-density polyethylene with 72% crystal content and an ultralow density polyethylene with 15% crystal content are reported. The cyclic stretching does appear a thermoplastic-like response for high crystallinity and an elastomeric-like response for low crystallinity, both characterized by a stress-softening, a hysteresis and a residual strain, whose amount depends on the crystallinity and the applied strain. Based on the experimental observations, a unified viscoelastic-viscoplastic constitutive model capturing the polyethylene cyclic response features is proposed. A two-phase representation of the polyethylene microstructure allows taking into consideration the effective contribution of the crystalline and amorphous phases to the intermolecular resistance to deformation which is coupled, to capture the strain hardening, to a resistance to molecular orientation. The polyethylene cyclic response features are captured by introducing evolution laws for the model parameters affected by the microstructure alteration due to the cyclic stretching.

Keywords: cyclic loading unloading, polyethylene, semi-crystalline polymer, viscoelastic-viscoplastic constitutive model

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Authors: Jolanta Brodowska-Szewczuk

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The article includes the results and conclusions from empirical researches that had been done. The research focuses on the impact of investments made in small and medium-sized enterprises financed from EU funds on the competitiveness of these companies. The researches includes financial results in sales revenue and net income, expenses, and many other new products/services on offer, higher quality products and services, more modern methods of production, innovation in management processes, increase in the number of customers, increase in market share, increase in profitability of production and provision of services. The main conclusions are that, companies with direct investments under this measure shall apply the modern methods of production. The consequence of this is to increase the quality of our products and services. Furthermore, both small and medium-sized enterprises have introduced new products and services. Investments were carried out, thus enabling better work organization in enterprises. Entrepreneurs would guarantee higher quality of service, which would result in better relationships with their customers, what is more, noting the rise in number of clients. More than half of the companies indicated that the investments contributed to the increase in market share. Same thing as for market reach and brand recognition of particular company. An interesting finding is that, investments in small enterprises were more effective than medium-sized enterprises.

Keywords: competitiveness, efficiency, EU funds, small and medium-sized enterprises

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Authors: K. W. A. M. Kokila, Matsui Kenichi

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Sri Lanka’s disaster management policy aims to protect lives and developments in disaster affected areas by effectively using resources for disaster risk reduction, emergency management, and community awareness. However, funding for these action programs has posed a serious challenge to the country’s economy. This paper examines the extent to which private-public partnerships (PPPs) can facilitate and expedite disaster management works. In particular, it discusses the results of the questionnaire survey among policymakers, government administrators, NGOs, and private businesses. This questionnaire was conducted in 2017. All respondents were selected based on their experience in PPP projects in the past. The survey focused on clarifying the effectiveness of past PPP projects as well as their efficiency and transparency. The respondents also provided their own opinions and suggestions to improve the future PPP projects in Sri Lanka. The questionnaire was distributed to fifteen persons. The results show that almost all respondents think that PPP projects are beneficial and important for future disaster risk management in Sri Lanka. The respondents, however, showed some reservation about effectiveness and transparency of the PPP process. This paper also discusses the results on the respondents’ perceptions about their capacity regarding human resources and management. This paper, overall, sheds light on technological, financial and human resource management practices in developed countries as well as policy and legislation provisions regarding PPP projects.

Keywords: disaster management, policy, private public partnership, projects

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Authors: Ritu Chaturvedi, Manoj Paul

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A pot experiment was conducted to investigate the effect of Arbuscular mycorrhizal fungus (AMF) on metal(loid) uptake and accumulation efficiency of Pisum sativum along with physiological and biochemical response. Plants were grown in soil spiked with 50 and 100 mg kg-1 Pb, 25 and 50 mg kg-1 Cd, 50 and 100 mg kg-1 As and a combination of all three metal(loid)s. A parallel set was maintained and inoculated with arbuscular mycorrhizal fungus for comparison. After 60 days, plants were harvested and analysed for metal(loid) content. A steady increase in metal(loid) accumulation was observed on increment of metal(loid) dose and also on AMF inoculation. Plant height, biomass, chlorophyll, carotenoid and carbohydrate content reduced upon metal(loid) exposure. Increase in enzymatic (CAT, SOD and APX) and nonenzymatic (Proline) defence proteins was observed on metal(loid) exposure. AMF inoculation leads to an increase in plant height, biomass, chlorophyll, carotenoids, carbohydrate and enzymatic defence proteins (p≤0.001) under study; whereas proline content was reduced. Considering the accumulation efficiency and adaptive response of plants and alleviation of stress by AMF, this symbiosis can be applied for on-site remediation of Pb and Cd contaminated soil.

Keywords: heavy metal, mycorrhiza, pea, phyroremediation

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Authors: Ebtissem Sassi, Abdellatif Benabdelhafid, Sami Hammami

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Congestion, pollution and space misuse are the major risks in the hinterland. Management of these risks is a major issue for all the actors intervening in territory management. A good mastery of these risks is based on the consideration of environmental and physical constraints since the implementation of a policy integrates simultaneously an efficient use, territorial resources, and financial resources which become increasingly rare. Yet, this balance can be difficult to establish simultaneously by all the actors. Indeed, every actor has often the tendency to favor these objectives in detriment to others. In this framework, we have fixed the objective of designing and achieving a model which will centralize multidisciplinary data and serve the analysis tool as well as a decision support tool. In this article, we will elaborate some methodological axes allowing the good management of the territory system through (i) determination of the structural factors of the decision support system, (ii) integration of methods tools favoring the territorial decisional process. Logistics territory geographic information system is a model dealing with this issue. The objective of this model is to facilitate the exchanges between the actors around a common question which was the research subject of human sciences researchers (geography, economy), nature sciences (ecology) as well as finding an optimal solution for simultaneous responses to all these objectives.

Keywords: complexity, territory, logistics, territory planning, conceptual model, GIS, MCA

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Authors: Dragana Bubulj

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The Former Republic of Yugoslavia was a sort of protective umbrella, a unique concept of gathering different ethnical, cultural, and religious identities, as well as diverse intersections of those. After 43-months long civil war and states disintegration in 1995, which resulted in 5 post-Yugoslav countries, Yugoslav Diaspora experienced radical changes. In Germany, one of the countries with the highest percentage of Yugoslav emigration, segregation on ethno-national grounds was empowered by the outbreak of the conflict: firstly on a socio-cultural level, and followed by changes on the level of institutional organizing. Psycho-emotional and financial involvement of Diaspora into the war is also not to be neglected. People of Serbian origin have been additionally overstrained with the designation of Serbs as war criminals in German media and the public sphere. In this way, the path from 'being a Yugoslav' toward 'becoming a Serb', outside nowadays Serbia, has been qualitatively different in comparison to potential identity shiftings experienced by other members of Former Yugoslav population. This paper is part of an ongoing PhD research and tackles biographical narratives of academics of Serbian origin in one German region. Paper addresses processes of post-Yugoslav identity negotiations in Diaspora settings, nationalistic tendentious among second generation youth, and discusses - based on NS-references founded in collected data - question of historicity of biographies.

Keywords: biography, diaspora, ethnography, former republic of Yugoslavia, identity

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Authors: Habib Ahmadi, Mohamad Ali Ameri

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In this research, the perception and understanding of police officers about the value of higher education have been investigated. A qualitative research approach and phenomenological method were used, and in data analysis, the Claizi method was used. In this research, 17 people with different degrees and occupations were selected by purposive sampling method until saturation and were investigated using a semi-structured interview tool. After the data was collected, recorded, and coded in the Atlas T software, it was formulated in the form of main categories and concepts. The general views of police officers participating in this research show the importance of university education in police jobs(76%). The analysis of participants' experiences led to the identification of seven main categories of the value and role of higher education, including; 1- Improvement of behavior and social skills, 2- Opportunities to improve and improve job performance, 3- Professionalization of police work, 4- Financial motivation, 5- People's satisfaction with police services, 6- Improvement of writing and technical skills Statement, 7- Raising the level of expectation and expectations was misplaced (negative perception). The findings of this study support the positive attitude and professionalism of the educated police. Therefore, considering the change of paradigm in society as well as the change of technologies, more complex organizational designs, and the perception of police officers, it is concluded that the police field needs officers with higher education to enable them to understand the new global environment.

Keywords: lived experience, higher education, police professionalization, perceptions of police officers

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Authors: Samaila Muazu Bawa

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Hydration process, crack potential and setting time of concrete grade C30, C40 and C50 were separately monitored using non-contact electrical resistivity apparatus, a plastic ring mould and penetration resistance method respectively. The results show highest resistivity of C30 at the beginning until reaching the acceleration point when C50 accelerated and overtaken the others, and this period corresponds to its final setting time range, from resistivity derivative curve, hydration process can be divided into dissolution, induction, acceleration and deceleration periods, restrained shrinkage crack and setting time tests demonstrated the earliest cracking and setting time of C50, therefore, this method conveniently and rapidly determines the concrete’s crack potential. The highest inflection time (ti), the final setting time (tf) were obtained and used with crack time in coming up with mathematical models for the prediction of concrete’s cracking age for the range being considered. Finally, ANSYS numerical simulations supports the experimental findings in terms of the earliest crack age of C50 and the crack location that, highest stress concentration is always beneath the artificially introduced expansion joint of C50.

Keywords: concrete hydration, electrical resistivity, restrained shrinkage crack, ANSYS simulation

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Authors: Serges Djoyou Kamga, Gerard Emmanuel Kamdem Kamga

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Any serious constitutionalism entails a system of government characterised by the separation of powers between the executive, the legislature, and the judiciary. The latter is generally in charge of upholding the rule of law and the respect for human rights which are vital for the functioning of any democracy. Therefore, for the judiciary to play its role as a watchdog, it should be independent from other branches of government. The aim of this paper is to examine the independence of the judiciary in South Africa after 20 of democracy. Defining judicial independence as the courts’ ability ‘to decide cases on the basis of established law and the merits of the case, without interference from other political or governmental agents’, the paper examines the extent to which the South African judiciary is independent after twenty years of democracy. As part of assessing the independence of the judiciary, the paper begins by looking at the situation during apartheid, then proceeds with an examination of the post-apartheid legal order. It also examines the institutional independence of the judiciary by looking into its day to day activities which revolve around its self-governance, or administrative and financial independence. In addition, the paper assesses the judges’ individual independence by examining whether judicial appointment, security of tenure, judges’ remuneration and disciplinary actions and the removal of judges from office do not contain loopholes that can hinder judicial independence. Ultimately, the chapter argues that although the South African model of judicial independence is yet to be perfect, it is a good practice that can be emulated by other African countries.

Keywords: judical independence, South Africa, democracy, separation of powers

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Authors: Alireza Saidi

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Aside from injuries due to direct contact with hot or cold substances or objects, exposure to extreme temperatures in the workplace involves physical hazards to workers. On the other hand, a poorly acclimatized worker may have reduced performance and alertness and may, therefore, be more vulnerable to the risk of accidents and injuries. Due to the incompatibility of the standards put in place with certain workplaces and the lack of thermoregulation in many protective equipments, thermal strains remain among the physical risks most present in many work sectors. However, many of these problems can be overcome thanks to the potential of intelligent textile technologies allowing intelligent thermoregulation in protective equipment. Nowadays, technologies such as heating elements, cooling elements are applied in products intended for sport and leisure, and research work has been carried out in the integration of temperature sensors and thermal stress detectors in personal protective equipment. However, the usage of all of these technologies in personal protective equipment remains very marginal. This article presents a portrait of the current state of intelligent thermoregulation systems by carrying out a synthesis of technical developments, which is accompanied by a gap analysis of current developments. Thus, the research work necessary for the adaptation and integration of intelligent thermoregulation systems with personal protective equipment is discussed in order to offer a perspective of future developments.

Keywords: personal protective equipment, smart textiles, thermoregulation, thermal strain

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Authors: Rabiaal Adawiyah Shazali, Corina Joseph

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The disclosure of Intellectual Capital (IC) information is getting more vital in today’s era of a knowledge-based economy. Companies are advised by accounting bodies to enhance IC disclosure which complements the conventional financial disclosures. There are no accounting standards for Intellectual Capital Disclosure (ICD), therefore the disclosure is entirely voluntary. Hence, this study aims to investigate the extent of ICD and to examine the relationship between corporate governance and ICD in Malaysia. This study employed content analysis of 100 annual reports by the top 100 public listed companies in Malaysia during 2012. The uniqueness of this study lies on its underpinning theory used where it applies the institutional isomorphism theory to support the effect of the attributes of corporate governance towards ICD. In order to achieve the stated objective, multiple regression analysis were employed to conduct this study. From the descriptive statistics, it was concluded that public listed companies in Malaysia have increased their awareness towards the importance of ICD. Furthermore, results from the multiple regression analysis confirmed that corporate governance affects the company’s ICD where the frequency of audit committee meetings and the board size has positively influenced the level of ICD in companies. Findings from this study would provide an incentive for companies in Malaysia to enhance the disclosure of IC. In addition, this study would assist Bursa Malaysia and other regulatory bodies to come up with a proper guideline for the disclosure of IC.

Keywords: annual report, content analysis, corporate governance, intellectual capital disclosure

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Authors: Chaoqun Zhao, Gang Fang

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Twinning is an important deformation mechanism of magnesium alloys, but there is no consensus on the relationship between twinning and ductility. To comprehensively understand the effect of twinning on plastic deformation and cracking, the in situ tensile tests of a magnesium alloy sample along its extrusion direction were conducted, accompanied by the observations using scanning electron microscopy (SEM) and electron backscattered diffraction (EBSD). The misorientation angles around specific axes and trace analysis of grains were used to identify the active twinning systems. The results show that the area fraction of tension twins increases with the increasing strain, resulting in the c-axes of most grains rotating from the normal direction to the transverse direction, and the intensity of (0002) pole is weakened. Based on the analysis of kernel average misorientation (KAM) and SEM maps, it is found that the appearance of tension twins accommodates plastic deformation. However, the stress concentration caused by the intersection of tension twinning with the second phase can lead to crack initiation, and the crack propagates along the direction perpendicular to the tension twinning. For contraction twinning, it plays a role in plastic relaxation and improving strain compatibility during deformation, and is not a necessary potential mechanism of crack nucleation.

Keywords: magnesium alloy, cracking, in-situ EBSD, twinning

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Authors: Antonios Panagopoulos, Stamoulis Georgios

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Dyslexia's diagnosis is made taking into account reading and writing skills and is carried out by qualified scientific staff. In addition, there are screening tests that are designed to give an indication of possible dyslexic difficulties. Their main advantage is that they create a pleasant environment for the user and reduce the stress that can lead to false results. An online application was created for the first time, as far as authors' knowledge, for screening Dyslexia in Greek high school students named «DyScreTe». Thus, a sample of 240 students between 16 and 18 years old in Greece was taken, of which 120 were diagnosed with dyslexia by an official authority in Greece, and 120 were typically developed. The main hypothesis that was examined is that students who were diagnosed with dyslexia by official authorities in Greece had significantly lower performance in the respective software tests. The results verified the hypothesis we made those children with dyslexia in each test had a lower performance com-pared to the type developed in successful responses, except for the intelligence test. After random sampling, it was shown that the new online application was a useful tool for screening dyslexia. However, computer evaluation cannot replace the diagnosis by a professional expert, but with the results of this application, the interdisciplinary team that deals with the differential diagnosis will create and evaluate, at a later time, the appropriate intervention program.

Keywords: dyslexia, screening tests, deficits, application

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Authors: Hooman Dabirmanesh, Attila M. Zsaki

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Traditionally, rock slope stability is carried out using limit equilibrium analysis when investigating toppling failure. In these equilibrium methods, internal forces exerted between columns are not clearly defined, and to the authors’ best knowledge, there is no consensus in literature with respect to the results of analysis. A discrete element method-based numerical model was developed and applied to simulate the behavior of rock layers subjected to toppling failure. Based on this calibrated numerical model, a study of the location and distribution of internal forces that result in equilibrium was carried out. The sum of side forces was applied at a point on a block which properly represents the force to determine the inter-column force distribution. In terms of the side force distribution coefficient, the result was compared to those obtained from laboratory centrifuge tests. The results of the simulation show the suitable criteria to select the correct position for the internal exerted force between rock layers. In addition, the numerical method demonstrates how a theoretical method could be reliable by considering the interaction between the rock layers.

Keywords: contact bond, discrete element, force distribution, limit equilibrium, tensile stress

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Authors: Haowen Xi

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We propose and solve exactly a class of non-linear generalization of the Black-Scholes process of stochastic differential equations describing price bubble and crashes dynamics. As a result of nonlinear positive feedback, the faster-than-exponential price positive growth (bubble forming) and negative price growth (crash forming) are found to be the power-law finite-time singularity in which bubbles and crashes price formation ending at finite critical time tc. While most literature on the market bubble and crash process focuses on the nonlinear positive feedback mechanism aspect, very few studies concern the noise level on the same process. The present work adds to the market bubble and crashes literature by studying the external sources noise influence on the critical time tc of the bubble forming and crashes forming. Two main results will be discussed: (1) the analytical expression of expected value of the critical time is found and unexpected critical slowing down due to the coupling external noise is predicted; (2) numerical simulations of the nonlinear stochastic equation is presented, and the probability distribution of Prob(tc) is found to be the inverse gamma function.

Keywords: bubble, crash, finite-time-singular, numerical simulation, price dynamics, stochastic differential equations

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Authors: Khaled Sandjak, Boualem Tiliouine

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Structural analysis of flexible pavements has been and still is currently performed using multi-layer elastic theory. However, for thinly surfaced pavements subjected to low to medium volumes of traffics, the importance of non-linear stress-strain behaviour of unbound granular materials (UGM) requires the use of more sophisticated numerical models for structural design and performance of such pavements. In the present work, nonlinear unbound aggregates constitutive model is implemented within an axisymmetric finite element code developed to simulate the nonlinear behaviour of pavement structures including two local aggregates of different mineralogical nature, typically used in Algerian pavements. The performance of the mechanical model is examined about its capability of representing adequately, under various conditions, the granular material non-linearity in pavement analysis. In addition, deflection data collected by falling weight deflectometer (FWD) are incorporated into the analysis in order to assess the sensitivity of critical pavement design criteria and pavement design life to the constitutive model. Finally, conclusions of engineering significance are formulated.

Keywords: FWD backcalculations, finite element simulations, Nonlinear resilient behaviour, pavement response and performance, RLT test results, unbound granular materials

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Authors: Walid El Kamash

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Sand columns (or granular piles) can be employed as soil strengthening for flexible constructions such as road embankments, oil storage tanks in addition to multistory structures. The challenge of embedding the sand columns in soft soil is that the surrounding soft soil cannot avail the enough confinement stress in order to keep the form of the sand column. Therefore, the sand columns which were installed in such soil will lose their ability to perform needed load-bearing capacity. The encasement, besides increasing the strength and stiffness of the sand column, prevents the lateral squeezing of sands when the column is installed even in extremely soft soils, thus enabling quicker and more economical installation. This paper investigates the improvement in load capacity of the sand column by encasement through a comprehensive parametric study using the 3-D finite difference analysis for the soft clay of soil in Egypt. Moreover, the study was extended to include a comparison study between encased sand column and Deep Mixed columns (DM). The study showed that confining the sand by geosynthetic resulted in an increment of shear strength. That result paid the attention to use encased sand stone rather than deep mixed columns due to relative high permeability of the first material.

Keywords: encased sand column, Deep mixed column, numerical analysis, improving soft soil

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Authors: Achmad Muchaddam Fahham, Sony Hendra Permana

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For rural communities and micro-entrepreneurs, access to formal financial institutions is very difficult. So, borrowing to moneylenders is the most possible way to fulfill their needs. But actually it does not solve their problems, precisely their problems are increasing because they have to pay at very high-interest rates. For this reason, microfinance institution is very important as a solution for rural communities and micro-entrepreneurs who need loans to fulfill their needs. This paper aims to describe the role of micro waqf banks in Indonesia as an alternative funding for rural communities and micro-entrepreneurs. This research is descriptive using a qualitative approach. The interview technique was also carried out with key informants who understood sharia microfinance institutions. The results of the study revealed that the micro waqf bank is Islamic microfinance institutions which targeted the micro business sector by channeling small financing with a maximum financing of Rp1 million. The funding of this micro waqf bank comes from donors who donate funds through the Amil Zakat institution. The margins imposed on borrowers are as high as 3 percent per year, with payment schemes in installments every week, so it is made easier for borrower. In addition, financing is followed by training and mentoring so that borrower is able to utilize the loan for productive business activities. In the end, it is hoped that this micro waqf bank can become an incubator for micro businesses in Indonesia.

Keywords: micro business, micro waqf banks, micro-entrepreneurs, Amil Zakat institution

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Authors: I. Diaz Sanchez, I. M. Martinez-Conesa, M. Illueca

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Accounting conservatism is a desirable quality of earnings that is positively associated with the stridency of regulatory and supervisory regimen and high market discipline. But how these three pillars interact each other is the main research question that is not empirically solved. We analyze how regulatory and supervisory regimes interact with the market discipline measures, such as listing status, ownership and market concentration using a sample of 14,651 bank-year observations covering 54 countries over the period 1997-2009. We evidence that regulation a supervision and extend on which they are enforcement is a strong mechanism to achieved accounting conservatism in those countries or situations where the market discipline fails. Generally, the supervisory power reinforces the effect of listing status, ownership and concentration on conservatism, while capital regulatory mitigates the effect of market discipline on conservatism. This paper may contribute to debate about the mechanism introduced by Basel III that strongly increases the regulation, his enforcement, and the supervisory power after long deregulation period. Although Market discipline is relevant to achieve the financial stability, strong Pillar I and II can ensure the quality of the accounting earnings to prevent bank failures.

Keywords: accounting conservatism, bank regulation, bank supervision, loan loss recognition, market discipline

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Authors: Siti Azrina B. A. Aziz, Siti Hafizah A. Hamid

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New approaches to analyze and visualize data stream in real-time basis is important in making a prompt decision by the decision maker. Financial market trading and surveillance, large-scale emergency response and crowd control are some example scenarios that require real-time analytic and data visualization. This situation has led to the development of techniques and tools that support humans in analyzing the source data. With the emergence of Big Data and social media, new techniques and tools are required in order to process the streaming data. Today, ranges of tools which implement some of these functionalities are available. In this paper, we present chronological evolution evaluation of technologies for supporting of real-time analytic and visualization of the data stream. Based on the past research papers published from 2002 to 2014, we gathered the general information, main techniques, challenges and open issues. The techniques for streaming text visualization are identified based on Text Visualization Browser in chronological order. This paper aims to review the evolution of streaming text visualization techniques and tools, as well as to discuss the problems and challenges for each of identified tools.

Keywords: information visualization, visual analytics, text mining, visual text analytics tools, big data visualization

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Authors: Nancy Ayman Kamal Mohamed Mehrz

Abstract:

Like the economies of other countries in the Mediterranean region, the tourism sector in our country has excellent economic prospects. Tourism companies are building tourism, a sector that faces various challenges in its activities. These problems have made business activities and competition between companies difficult. In this study, which was conducted to identify the problems of the tourism sector in the Central Anatolia region, most of the problems faced by the tourism sector and consumer information on consumer rights were used. The aim is to contribute to the awareness of workers and managers working in the tourism sector and to attract the attention of companies and legislators working in the tourism sector. E-tourism is one of the newest issues in the field of tourism. Infrastructure and Information Technology (or ICT) and partner government and tourism organizations are required to achieve this type of tourism. This study measures the views of managers and tourism managers in Leman City regarding e-tourism; In addition, the effect of the literacy level of the tourism management system on tourist attractions was also examined. This research has been carried out. One of the suburbs of Isfahan province. This research is a documentary research and source material that includes literature and surveys. The results obtained show that if managers use ICT, it can help the development of e-tourism in the region, and increasing managers' views about e-tourism and improving their literacy levels can affect the development of tourism.

Keywords: financial problems, the problems of tourism businesses, tourism businesses, internet, marketing, tourism, tourism management economic competitiveness, enhancing competitiveness

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Authors: R. A. C. K. Gunathilaka, P. T. D. Peiris, O. S. M. Jayawardane, S. M. A. I. Kulathunga

Abstract:

Waste management is one of the predominant aspects of resource utilization and sustainability. The absence of a proper waste management system may lead to adverse troubles and catastrophic tragedies ultimately. Sri Lanka has faced different predicaments for a long time due to the unavailability of a systematic manner in the waste management process. The main objective of this research is to design an efficient waste management system for an urban area in Sri Lanka. The research was dispersed into three categories as biodegradable, non-biodegradable, and hazardous waste. Different waste materials were researched for each category by probing the entire process from the beginning to final disposal for perceiving the prevailing problems in the waste management system. The distinctive segment of this research is comparing efficient foreign waste management strategies with efficacious approaches on increasing public commitment to uncovering cognizable ways of implementing such a system in the Sri Lankan context. Waste management systems in Singapore, Japan, Malaysia, USA, Maldives, and China incorporated their exemplary plan of action on tackling the waste problem in diverse sectors were studied. Ultimately, three coherent models were proposed for each category pertaining to the concepts of circular economy and lean manufacturing from the inception to the final disposal of the waste. This research also includes concealed financial opportunities regarding waste management.

Keywords: circular economy, efficient waste management system, lean manufacturing, sustainability, urban area

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Authors: Maryam Khalili, Fateme Ghanei

Abstract:

As one of the most significant phenomena of industrialized societies, tourism plays a key role in encouraging regional developments and enhancing higher standards of living for local communities in particular. Traveling is a formative experience endowed with lessons on various aspects of life. It allows us learning how to enhance the social position as well as the social relationships. However, people forget the need to travel and gain first-hand experiences as they have to cope with the ever-increasing rate of stress created by the disorders and routines of the urban dwelling style. In this paper, various spaces of such experiences were explored through a virtual tour with two underlying aims: 1) encouraging, informing, and educating the community in terms of tourism development, and 2) introducing a temporary release from the routines. This study enjoyed a practical-qualitative research methodology, and the required data were collected through observation and using a multiple-response questionnaire. The participants (19-48 years old) included 41 citizens of both genders (63.4% male and 36.6% female) from two regions in Tehran, selected by cluster-probability sampling. The results led to development of a spatial design for a virtual tour experience in Tehran where different areas are explored to both raise people’s awareness and educate them on their cultural heritage.

Keywords: ecotourism, education, gamification, social interaction, urban design, virtual tour

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Authors: Silvia Rahmita

Abstract:

Entrepreneurial success is crucial for economic growth, competitiveness, and job creation, yet many entrepreneurs face failure due to various challenges. This paper explores the critical role of strategic thinking in mitigating entrepreneurial failure. Entrepreneurial competencies—encompassing knowledge, skills, and traits—are essential for creating and growing ventures. Despite these competencies, numerous entrepreneurs fail due to poor management, inadequate support, and ineffective policies. The paper categorizes entrepreneurial failures into financial, operational, market, product or service, strategic, leadership, legal, human capital, technological, and environmental failures. Each failure type can be addressed through strategic thinking, which involves foresight, balancing short-term and long-term goals, and hypothesis-driven processes. By integrating strategic thinking into their approach, entrepreneurs can enhance risk management, adapt to market changes, and sustain growth. This process involves setting clear goals, innovating products, and maintaining a competitive edge. Ultimately, strategic thinking provides a framework for proactive planning, adaptation, and continuous improvement, reducing the likelihood of failure and ensuring long-term success. Entrepreneurs who prioritize strategic thinking are better equipped to navigate the complexities of the business environment and achieve sustainable growth.

Keywords: entrepreneurial failure, strategic thinking, risk management, business failure

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