Search results for: banking regulation
1465 Efficiency in Islamic Banks: Some Empirical Evidences in Indonesian Finance Market
Authors: Ahmed Sameer El Khatib
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The aim of the present paper is to examine the revenue efficiency of the Indonesian Islamic banking sector. The study also seeks to investigate the potential internal (bank specific) and external (macroeconomic) determinants that influence the revenue efficiency of Indonesian domestic Islamic banks. We employ the whole gamut of domestic and foreign Islamic banks operating in the Indonesian Islamic banking sector during the period of 2009 to 2018. The level of revenue efficiency is computed by using the Data Envelopment Analysis (DEA) method. Furthermore, we employ a panel regression analysis framework based on the Ordinary Least Square (OLS) method to examine the potential determinants of revenue efficiency. The results indicate that the level of revenue efficiency of Indonesian domestic Islamic banks is lower compared to their foreign Islamic bank counterparts. We find that bank market power, liquidity, and management quality significantly influence the improvement in revenue efficiency of the Indonesian domestic Islamic banks during the period under study. By calculating these efficiency concepts, we can observe the efficiency levels of the domestic and foreign Islamic banks. In addition, by comparing both cost and profit efficiency, we can identify the influence of the revenue efficiency on the banks’ profitability.Keywords: Islamic Finance, Islamic Banks, Revenue Efficiency, Data Envelopment Analysis
Procedia PDF Downloads 2421464 Optimal Tuning of RST Controller Using PSO Optimization for Synchronous Generator Based Wind Turbine under Three-Phase Voltage Dips
Authors: K. Tahir, C. Belfedal, T. Allaoui, C. Gerard, M. Doumi
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In this paper, we presented an optimized RST controller using Particle Swarm Optimization (PSO) meta-heuristic technique of the active and reactive power regulation of a grid connected wind turbine based on a wound field synchronous generator. This regulation is achieved below the synchronous speed, by means of a maximum power point tracking algorithm. The control of our system is tested under typical wind variations and parameters variation, fault grid condition by simulation. Some results are presented and discussed to prove simplicity and efficiency of the WRSG control for WECS. On the other hand, according to simulation results, variable speed driven WRSG is not significantly impacted in fault conditions.Keywords: wind energy, particle swarm optimization, wound rotor synchronous generator, power control, RST controller, maximum power point tracking
Procedia PDF Downloads 4511463 Customizable Sonic EEG Neurofeedback Environment to Train Self-Regulation of Momentary Mental and Emotional State
Authors: Cyril Kaplan, Nikola Jajcay
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We developed purely sonic, musical based, highly customizable EEG neurofeedback environment designed to administer a new neurofeedback training protocol. The training protocol concentrates on improving the ability to switch between several mental states characterized by different levels of arousal, each of them correlated to specific brain wave activity patterns in several specific regions of neocortex. This paper describes the neurofeedback training environment we developed and its specificities, thus can be helpful as a manual to guide other neurofeedback users (both researchers and practitioners) interested in our editable open source program (available to download and usage under CC license). Responses and reaction of first trainees that used our environment are presented in this article. Combination of qualitative methods (thematic analysis of neurophenomenological insights of trainees and post-session semi-structured interviews) and quantitative methods (power spectra analysis of EEG recorded during the training) were employed to obtain a multifaceted view on our new training protocol.Keywords: EEG neurofeedback, mixed methods, self-regulation, switch-between-states training
Procedia PDF Downloads 2281462 HIV-1 Nef Mediates Host Invasion by Differential Expression of Alpha-Enolase
Authors: Reshu Saxena, R. K. Tripathi
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HIV-1 transmission and spread involves significant host-virus interaction. Potential targets for prevention of HIV-1 lies at the site of mucosal barriers. Thus a better understanding of how HIV-1 infects target cells at such sites and lead their invasion is required, with prime focus on the host determinants regulating HIV-1 spread. HIV-1 Nef is important for viral infectivity and pathogenicity. It promotes HIV-1 replication, facilitating immune evasion by interacting with various host factors and altering cellular pathways via multiple protein-protein interactions. In this study nef was sequenced from HIV-1 patients, and showed specific mutations revealing sequence variability in nef. To explore the difference in Nef functionality based on sequence variability we have studied the effects of HIV-1 Nef in human SupT1 T cell line and (THP-1) monocyte-macrophage cell lines through proteomics approach. 2D-Gel Electrophoresis in control and Nef-transfected SupT1 cells demonstrated several differentially expressed proteins with significant modulation of alpha-enolase. Through further studies, effects of Nef on alpha-enolase regulation were found to be cell lineage-specific, being stimulatory in macrophages/monocytes, inhibitory in T cells and without effect in HEK-293 cells. Cell migration and invasion studies were employed to determine biological function affected by Nef mediated regulation of alpha-enolase. Cell invasion was enhanced in THP-1 cells but was inhibited in SupT1 cells by wildtype nef. In addition, the modulation of enolase and cell invasion remained unaffected by a unique nef variant. These results indicated that regulation of alpha-enolase expression and invasive property of host cells by Nef is sequence specific, suggesting involvement of a particular motif of Nef. To precisely determine this site, we designed a heptapeptide including the suggested alpha-enolase regulating sequence of nef and a nef mutant with deletion of this site. Macrophages/monocytes being the major cells affected by HIV-1 at mucosal barriers, were particularly investigated by the nef mutant and peptide. Both the nef mutant and heptapeptide led to inhibition of enhanced enolase expression and increased invasiveness in THP-1 cells. Together, these findings suggest a possible mechanism of host invasion by HIV-1 through Nef mediated regulation of alpha-enolase and identifies a potential therapeutic target for HIV-1 entry at mucosal barriers.Keywords: HIV-1 Nef, nef variants, host-virus interaction, tissue invasion
Procedia PDF Downloads 4121461 The Responsible Lending Principle in the Spanish Proposal of the Mortgage Credit Act
Authors: Noelia Collado-Rodriguez
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The Mortgage Credit Directive 2014/17/UE should have been transposed the 21st of March of 2016. However, in Spain not only we did not meet the deadline, but currently we just have a preliminary draft of the so-called Mortgage Credit Act. Before we analyze the preliminary draft from the standpoint of the responsible lending principle, we should point out that this preliminary draft is not a consumer law statute. Through the text of the preliminary draft we cannot see any reference to the consumer, but we see references to the borrower. Furthermore, and more important, the application of this statute would not be, according to its text, circumscribed to borrowers who address the credit to a personal purpose. Instead, it seems that the preliminary draft aims to be one more of the rules of banking transparency that already exists in the Spanish legislation. In this sense, we can also mention that the sanctions contained in the preliminary draft are referred to these laws of banking ordination and oversight – where the rules of banking transparency belong –. This might be against the spirit of the Mortgage Credit Directive, which allows the extension of its scope to credits aimed to acquire other immovable property beyond the residential one. However, the borrower has to be a consumer accordingly with the Directive. It is quite relevant that the prospective Spanish Mortgage Credit Act might not be a consumer protection statute; specially, from the perspective of the responsible lending principle. The responsible lending principle is a consumer law principle, which is based on the structural weakness of the consumer’s position in the relationship with the creditor. Therefore, it cannot surprise that the Spanish preliminary draft does not state any of the pre contractual conducts that express the responsible lending principle. We are referring to the lender’s duty to provide adequate explanations; the consumer’s suitability test; the lender’s duty to assess consumer’s creditworthiness; the consultation of databases to perform the creditworthiness assessment; and the most important, the lender’s prohibition to grant credit in case of a negative creditworthiness assessment. The preliminary draft just entitles the Economy Ministry to enact provisions related to those topics. Thus, the duties and rules derived from the responsible lending principle included in the EU Directive will not have legal character in Spain, being mere administrative regulations. To conclude, the two main questions that come up after reading the Spanish Mortgage Credit Act preliminary draft are, in the first place, what kind of consequences might arise from the Mortgage Credit Act if finally it is not a consumer law statute. And in the second place, what might be the consequences for the responsible lending principle of being developed by administrative regulations instead of by legislation.Keywords: consumer credit, consumer protection, creditworthiness assessment, responsible lending
Procedia PDF Downloads 2881460 An Investigation of Cyber Financial Crimes After the Enactment of PECA: A Case Study of Pakistan’s Banking Sector During 2016 to 2022
Authors: Zain Khalid
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The paper outlines the trends of cyber financial crimes and frauds – approximating upto – in Pakistan after the enactment of The Prevention of Electronic Crimes Act in 2016. The paper elaborates on the newer methods that fraudsters have adopted after tighter preventive and counter measures were employed in Pakistan partly as a result of following the international finance related commitments, particularly the FATF regulations. The paper adopts case studies methods to highlight various aspects of the financial frauds and crimes committed and later investigated jointly by Pakistan’s one of the federal law enforcement agencies, the Federal Investigation Agency, and Mobilink Microfinance Bank , Pakistan’s premier microfinance bank. It additionally enriches the data through expert interviews – with crime investigators and the experts to carry out an in-depth analysis of the various factors involving the crime. This paper emphasizes the structural and situational factors that shape up the cyber financial crimes in Pakistan vis-à-vis digital illiteracy and lack of awareness among the users of financial services. This paper, thus, on the basis of findings and expert interviews, suggests policy reforms to reduce the instances of the financial crimes, especially in the remotest areas of the country.Keywords: financial crimes, cyber crimes, digital literacy, terrorism financing, banking sector
Procedia PDF Downloads 881459 Necessity of Recognition of Same-Sex Marriages and Civil Partnerships Concluded Abroad from Civil Status Registry Point of View
Authors: Ewa Kamarad
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Recent problems with adopting the EU Regulation on matrimonial property regimes have clearly proven that Member States are unable to agree on the scope of the Regulation and, therefore, on the definitions of matrimonial property and marriage itself. Taking into account that the Regulation on the law applicable to divorce and legal separation, as well as the Regulation on matrimonial property regimes, were adopted in the framework of enhanced cooperation, it is evident that lack of a unified definition of marriage has very wide-ranging consequences. The main problem with the unified definition of marriage is that the EU is not entitled to adopt measures in the domain of material family law, as this area remains under the exclusive competence of the Member States. Because of that, the legislation on marriage in domestic legal orders of the various Member States is very different. These differences concern not only issues such as form of marriage or capacity to enter into marriage, but also the most basic matter, namely the core of the institution of marriage itself. Within the 28 Member States, we have those that allow both different-sex and same-sex marriages, those that have adopted special, separate institutions for same-sex couples, and those that allow only marriage between a man and a woman (e.g. Hungary, Latvia, Lithuania, Poland, Slovakia). Because of the freedom of movement within the European Union, it seems necessary to somehow recognize the civil effects of a marriage that was concluded in another Member State. The most crucial issue is how far that recognition should go. The thesis presented in the presentation is that, at an absolute minimum, the authorities of all Member States must recognize the civil status of the persons who enter into marriage in another Member State. Lack of such recognition might cause serious problems, both for the spouses and for other individuals. The authorities of some Member States may treat the marriage as if it does not exist because it was concluded under foreign law that defines marriage differently. Because of that, it is possible for the spouse to obtain a certificate of civil status stating that he or she is single and thus eligible to enter into marriage – despite being legally married under the law of another Member State. Such certificate can then be used in another country to serve as a proof of civil status. Eventually the lack of recognition can lead to so-called “international bigamy”. The biggest obstacle to recognition of marriages concluded under the law of another Member State that defines marriage differently is the impossibility of transcription of a foreign civil certificate in the case of such a marriage. That is caused by the rule requiring that a civil certificate issued (or transcribed) under one country's law can contain only records of legal institutions recognized by that country's legal order. The presentation is going to provide possible solutions to this problem.Keywords: civil status, recognition of marriage, conflict of laws, private international law
Procedia PDF Downloads 2351458 The Structure of Financial Regulation: The Regulators Perspective
Authors: Mohamed Aljarallah, Mohamed Nurullah, George Saridakis
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This paper aims and objectives are to investigate how the structural change of the financial regulatory bodies affect the financial supervision and how the regulators can design such a structure with taking into account; the Central Bank, the conduct of business and the prudential regulators, it will also consider looking at the structure of the international regulatory bodies and what barriers are found. There will be five questions to be answered; should conduct of business and prudential regulation be separated? Should the financial supervision and financial stability be separated? Should the financial supervision be under the Central Bank? To what extent the politician should intervene in changing the regulatory and supervisory structure? What should be the regulatory and supervisory structure when there is financial conglomerate? Semi structure interview design will be applied. This research sample selection contains a collective of financial regulators and supervisors from the emerged and emerging countries. Moreover, financial regulators and supervisors must be at a senior level at their organisations. Additionally, senior financial regulators and supervisors would come from different authorities and from around the world. For instance, one of the participants comes from the International Bank Settlements, others come from European Central Bank, and an additional one will come from Hong Kong Monetary Authority and others. Such a variety aims to fulfil the aims and objectives of the research and cover the research questions. The analysis process starts with transcription of the interview, using Nvivo software for coding, applying thematic interview to generate the main themes. The major findings of the study are as follow. First, organisational structure changes quite frequently if the mandates are not clear. Second, measuring structural change is difficult, which makes the whole process unclear. Third, effective coordination and communication are what regulators looking for when they change the structure and that requires; openness, trust, and incentive. In addition to that, issues appear during the event of crisis tend to be the reason why the structure change. Also, the development of the market sometime causes a change in the regulatory structure. And, some structural change occurs simply because of the international trend, fashion, or other countries' experiences. Furthermore, when the top management change the structure tends to change. Moreover, the structure change due to the political change, or politicians try to show they are doing something. Finally, fear of being blamed can be a driver of structural change. In conclusion, this research aims to provide an insight from the senior regulators and supervisors from fifty different countries to have a clear understanding of why the regulatory structure keeps changing from time to time through a qualitative approach, namely, semi-structure interview.Keywords: financial regulation bodies, financial regulatory structure, global financial regulation, financial crisis
Procedia PDF Downloads 1441457 A Pilot Study on the Sensory Processing Difficulty Pattern Association between the Hot and Cold Executive Function Deficits in Attention Deficit Hyperactivity Deficit Child
Authors: Sheng-Fen Fan, Sung-Hui Tseng
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Attention deficit hyperactivity deficit (ADHD) child display diverse sensory processing difficulty behaviors. There is less evidence to figure out how the association between executive function and sensory deficit. To determine whether sensory deficit influence the executive functions, we examined sensory processing by SPM and try to indicate hot/cold executive function (EF) by BRIEF2, respectively. We found that the hot executive function deficit might associate with auditory processing in a variety of settings, and vestibular input to maintain balance and upright posture; the cold EF deficit might opposite to the hot EF deficit, the vestibular sensory modulation difficulty association with emotion shifting and emotional regulation. These results suggest that sensory processing might be another consideration factor to influence the higher cognitive control or emotional regulation of EF. Overall, this study indicates the distinction between hot and cold EF impairments with different sensory modulation problem. Moreover, for clinician, it needs more cautious consideration to conduct intervention with ADHD.Keywords: hot executive function, cold executive function, sensory processing, ADHD
Procedia PDF Downloads 2861456 An Analysis of Transition in Building Form from Abolition of Diagonal Plane Control by Street Width: Focusing on Site Plan and Urban Block
Authors: Joohyun Park, Jin Baek
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The purpose of this study is to Analyze the role and effect arise from Diagonal Plane Control by Street Width (DPCSW) in Architecture in Seoul, and to predict the aspect of transition about the relationship among buildings and Urban morphology After the abolition. To find the tendency of building shape regulation, This study review Building Acts concerned with form making (the building to land Ratio, building designated line, wall designated line, building height limit (DPCSW) and etc.) and simulate the shape of urban blocks made by Acts in drawings. The review results show DPCSW is not only limitation about height, but also making the building setback from road and make the Road broader. And it makes the typical shape of the urban block that buildings are moving away from surrounding road After the Abolition of DPCSW; it is expected by the legislature that domestic real estate’s market would be promoted by increased total floor areas in each building. Some substitution from the legislature is announced, but it just deals with Building Maximum unit by Block unit except the regulation about arrangement in urban Figure and Ground. In conclusion, refrain from the uncontrolled development of city, It is important to make regulation about not only height factors but limitation line in land. Furthermore, through revising District Unit Plan, It is positively necessary to reset the relationship between buildings for the making the city space better.Keywords: diagonal plane control by street width, building maximum height, district unit plan, building acts, urban block type, morphology, building shape
Procedia PDF Downloads 3121455 Financial Policies in the Process of Global Crisis: Case Study Kosovo, Case Kosovo
Authors: Shpetim Rezniqi
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Financial Policies in the process of global crisis the current crisis has swept the world with special emphasis, most developed countries, those countries which have most gross -product world and you have a high level of living.Even those who are not experts can describe the consequences of the crisis to see the reality that is seen, but how far will it go this crisis is impossible to predict. Even the biggest experts have conjecture and large divergence, but agree on one thing: - The devastating effects of this crisis will be more severe than ever before and can not be predicted.Long time, the world was dominated economic theory of free market laws. With the belief that the market is the regulator of all economic problems. The market, as river water will flow to find the best and will find the necessary solution best. Therefore much less state market barriers, less state intervention and market itself is an economic self-regulation. Free market economy became the model of global economic development and progress, it transcends national barriers and became the law of the development of the entire world economy. Globalization and global market freedom were principles of development and international cooperation. All international organizations like the World Bank, states powerful economic, development and cooperation principles laid free market economy and the elimination of state intervention. The less state intervention much more freedom of action was this market- leading international principle. We live in an era of financial tragic. Financial markets and banking in particular economies are in a state of thy good, US stock markets fell about 40%, in other words, this time, was one of the darkest moments 5 since 1920. Prior to her rank can only "collapse" of the stock of Wall Street in 1929, technological collapse of 2000, the crisis of 1973 after the Yom Kippur war, while the price of oil quadrupled and famous collapse of 1937 / '38, when Europe was beginning World war II In 2000, even though it seems like the end of the world was the corner, the world economy survived almost intact. Of course, that was small recessions in the United States, Europe, or Japan. Much more difficult the situation was at crisis 30s, or 70s, however, succeeded the world. Regarding the recent financial crisis, it has all the signs to be much sharper and with more consequences. The decline in stock prices is more a byproduct of what is really happening. Financial markets began dance of death with the credit crisis, which came as a result of the large increase in real estate prices and household debt. It is these last two phenomena can be matched very well with the gains of the '20s, a period during which people spent fists as if there was no tomorrow. All is not away from the mouth of the word recession, that fact no longer a sudden and abrupt. But as much as the financial markets melt, the greater is the risk of a problematic economy for years to come. Thus, for example, the banking crisis in Japan proved to be much more severe than initially expected, partly because the assets which were based more loans had, especially the land that falling in value. The price of land in Japan is about 15 years that continues to fall. (ADRI Nurellari-Published in the newspaper "Classifieds"). At this moment, it is still difficult to çmosh to what extent the crisis has affected the economy and what would be the consequences of the crisis. What we know is that many banks will need more time to reduce the award of credit, but banks have this primary function, this means huge loss.Keywords: globalisation, finance, crisis, recomandation, bank, credits
Procedia PDF Downloads 3891454 Marketing and Pharmaceutical Analysis of Medical Cosmetics in Bulgaria and Japan
Authors: V. Petkova, V. Valchanova, D. Grekova, K. Andreevska, S. T. Geurguiev, V. Madgarov, D. Grekov
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Introduction: Production, distribution and sale of cosmetics is a global industry, which played a key role in the European Union (EU), the US and Japan. A major participant EU whose market cosmetics is greater than in the US and 2 times greater than that in Japan. The output value of the cosmetics industry in the EU is estimated at about € 35 billion in 2001. Nearly 5 billion cosmetic products (number of packages) are sold annually in the EU, and the main markets are France, Germany, Italy, Spain and the UK. The aim of the study is legal and marketing analysis of cosmetic products dispensed in a pharmacy. Materials and methodology: Historical legislative analysis - the method is applied in the analysis of changes in the legislative regulation of the activities of cosmetic products in Japan and Bulgaria Comparative legislative analysis - the method is applied when comparing the legislative requirements for cosmetic products in the already mentioned countries. Both methods are applied to the following regulations: 1) Japanese Pharmaceuticals Affairs Law, Tokyo, Japan, Ministry of Health, Labour and Welfare; 2) Law on Medicinal Products for Human Use; effective from 3.01.2014. Results: The legislative framework for cosmetic products in Bulgaria and Japan is close and generally includes general guidelines: Definition of a medicinal product; Categorization of drugs (with differences in sub-categories); Pre-registration and marketing approval of the competent authorities; Compulsory compliance with gmp (unlike cosmetics); Regulatory focus on product quality, efficacy and safety; Obligations for labeling of such products; Created systems Pharmacovigilance and commitment of all parties - industry and health professionals; The main similarities in the regulation of products classified as cosmetics are in the following segments: Full producer responsibility for product safety; Surveillance of market regulatory authorities; No need for pre-registration or pre-marketing approval (a basic requirement for notification); Without restrictions on sales channels; GMP manuals for cosmetics; Regulatory focus on product safety (than over efficiency); General requirements in labeling: The main differences in the regulation of products classified as cosmetics are in the following segments: Details in the regulation of cosmetic products; Future convergence of regulatory frameworks can contribute to the removal of barriers to trade, to encourage innovation, while simultaneously ensuring a high level of protection of consumer safety.Keywords: cosmetics, legislation, comparative analysis, Bulgaria, Japan
Procedia PDF Downloads 5921453 Examining Procrastination and Delay among Individuals with and without Attention Deficit Hyperactivity Disorder
Authors: S. J. Taylor, S. Chowdhury, T. A. Pychyl
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Attention Deficit Hyperactivity Disorder (ADHD) and procrastination are often discussed in relation to problems with self-regulation and executive functioning (EF). The small body of extant research that has explored the relations between these variables has many limitations particularly in terms of the samples used and the measurement of procrastination. In this study, we recruited a sample of undergraduate students with a confirmed clinical diagnosis of ADHD (n = 48, 66.7% females) as well as a sample of student volunteers without ADHD (n = 68, 75.8% females) to investigate the relations between ADHD subtypes, EF, procrastination and other forms of delay. We used the newly developed Multidimensional Measure of Academic Procrastination and Delay Questionnaire. As hypothesized, the results revealed that individuals with ADHD displayed significantly more irrational delay, general procrastination and academic procrastination compared to individuals without ADHD. This study contributed to the research literature indicating that individuals with ADHD struggle with procrastination as a result of symptoms of ADHD and EF deficits. Theses results provide support for adopting a new language when describing procrastination problems among individuals with ADHD, and they have implications for the nature of academic accommodations and interventions for individuals with ADHD.Keywords: ADHD, delay, executive functioning, procrastination, self-regulation
Procedia PDF Downloads 2301452 Examining Ethiopian Banking Industry in Relation to Factors Affecting Profitability: From 2008 to 2012
Authors: Zelalem Zerihun
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In this study, attempts were made to assess the bank-specific, industry-specific, and macro-economic factors affecting bank profitability. Data were collected from ten commercial banks in Ethiopia, covering the period of 2008-2012. A mixed method research approach was adopted for this research. Documentary analysis and in-depth interview were also used to substantiate the data. The study found out that capital strength, income diversification, bank size and gross domestic product are statistically significant and they have a positive relationship with banks’ profitability. However, operational efficiency and asset quality have a negative relationship with banks’ profitability. The relationship for liquidity risk, concentration and inflation were found to be statistically insignificant. The study revealed that focusing and reengineering the banks in light of the key internal drivers could enhance the profitability as well as the performance of the commercial banks in Ethiopia. In addition to this, the study suggests that banks in Ethiopia should not only be concerned about internal structures but also they must consider both the internal environment and the macro-economic environment in designing strategies to improve their profit or their performance.Keywords: Ethiopian banking industry, macro-economic factors, documentary analysis, capital strength, income diversification
Procedia PDF Downloads 3411451 Combating Illegal Logging in Malaysia: Policies and Strategies under National Forestry Act (NFA) 1984
Authors: Muhammad Nur Haniff Mohd Noor, Rokiah Kadir, Suriyani Muhamad
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The National Forestry Act (NFA) 1984 is the primary forest law that regulates forest-related activities in Peninsular Malaysia. In the 1990s, abundance of illegal logging cases have called for legislative reform of the NFA 1984. As a result, NFA 1984 was amended in 1993 with the principal goal of controlling illegal forest encroachment in the forms of illegal logging, unauthorized harvesting, unlicensed forest settlement and other forms of unlawful activities. At a conceptual level, this paper discusses the policies and strategies implemented under the NFA 1984 (Amendment 1993) that are dedicated to overcome illegal logging. Then, the policies and strategies employed are reviewed and evaluated. Next, this paper conceptually discusses the loopholes of NFA 1984 (Amendment 1993) in relation to aspects where the regulation is considered insufficient to curb illegal logging. In the final section, vital actions and suggested improvements to improve the overall effectiveness of NFA 1984 (Amendment 1993) are examined.Keywords: forest law and regulation, illegal logging, National Forestry Act 1984, NFA 1984, Amendment 1993, Peninsular Malaysia
Procedia PDF Downloads 2601450 Seek First to Regulate, Then to Understand: The Case for Preemptive Regulation of Robots
Authors: Catherine McWhorter
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Robotics is a fast-evolving field lacking comprehensive and harm-mitigating regulation; it also lacks critical data on how human-robot interaction (HRI) may affect human psychology. As most anthropomorphic robots are intended as substitutes for humans, this paper asserts that the commercial robotics industry should be preemptively regulated at the federal level such that robots capable of embodying a victim role in criminal scenarios (“vicbots”) are prohibited until clinical studies determine their effects on the user and society. The results of these studies should then inform more permanent legislation that strives to mitigate risks of harm without infringing upon fundamental rights or stifling innovation. This paper explores these concepts through the lens of the sex robot industry. The sexbot industry offers some of the most realistic, interactive, and customizable robots for sale today. From approximately 2010 until 2017, some sex robot producers, such as True Companion, actively promoted ‘vicbot’ culture with personalities like “Frigid Farrah” and “Young Yoko” but received significant public backlash for fetishizing rape and pedophilia. Today, “Frigid Farrah” and “Young Yoko” appear to have vanished. Sexbot producers have replaced preprogrammed vicbot personalities in favor of one generic, customizable personality. According to the manufacturer ainidoll.com, when asked, there is only one thing the user won’t be able to program the sexbot to do – “…give you drama”. The ability to customize vicbot personas is possible with today’s generic personality sexbots and may undermine the intent of some current legislative efforts. Current debate on the effects of vicbots indicates a lack of consensus. Some scholars suggest vicbots may reduce the rate of actual sex crimes, and some suggest that vicbots will, in fact, create sex criminals, while others cite their potential for rehabilitation. Vicbots may have value in some instances when prescribed by medical professionals, but the overall uncertainty and lack of data further underscore the need for preemptive regulation and clinical research. Existing literature on exposure to media violence and its effects on prosocial behavior, human aggression, and addiction may serve as launch points for specific studies into the hyperrealism of vicbots. Of course, the customization, anthropomorphism and artificial intelligence of sexbots, and therefore more mainstream robots, will continue to evolve. The existing sexbot industry offers an opportunity to preemptively regulate and to research answers to these and many more questions before this type of technology becomes even more advanced and mainstream. Robots pose complicated moral, ethical, and legal challenges, most of which are beyond the scope of this paper. By examining the possibility for custom vicbots via the sexbots industry, reviewing existing literature on regulation, media violence, and vicbot user effects, this paper strives to underscore the need for preemptive federal regulation prohibiting vicbot capabilities in robots while advocating for further research into the potential for the user and societal harm by the same.Keywords: human-robot interaction effects, regulation, research, robots
Procedia PDF Downloads 2061449 Impact of Islamic Hr Practices on Job Satisfaction: An Empirical Study of Banking Sector in Pakistan
Authors: Naheed Malik, Waheed Akhtar
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An introduction to the Islamic move towards the managing human resource is a preliminary attempt to provide managers with a useful way of managing and accepting employees. This knowledge would be helpful to even non-Muslim managers. Muslim managers are required not to know only the Islamic HR but also it is expected from them to apply the Islamic approach in managing the employees. Human resource is considered the most substantial asset of organizations. Studies have recommended that successful human resource management (HRM) leads to positive attitudes and behaviors at the workplace. On the contrary, unproductive use of human resources results in negative penalty in the form of lower job satisfaction, lower commitment, or even high employee turnover and even poor workforce quality.The study examined the Impact of Islamic HR practices on job satisfaction. Islamic HR variables encompass the aspects of performance appraisal, training and development, selection and recruitment. Data was obtained via self –administered questionnaires distributed among the employees of Banks in Pakistan which are practicing Islamic Banking. The sampling method employed was purposive sampling.Based on 240 responses obtained ,the study revealed that Islamic HRM deliberates the 40per cent of the variances in Job satisfaction .All variables excluding recruitment were found to be substantially pertinent to the dependent variable. The study also meditated the implications for future studies.Keywords: islamic HRM, job satisfaction, islamic and conventional banks, Pakistan
Procedia PDF Downloads 2971448 Unconventional Hydrocarbon Management Strategy
Authors: Edi Artono, Budi Tamtomo, Gema Wahyudi Purnama
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The world energy demand increasing extreamly high time by time, including domestic demand. That is impossible to avoid because energy a country demand proportional to surge in the number of residents, economic growth and addition of industrial sector. Domestic Oil and gas conventional reserves depleted naturally while production outcome from reservoir also depleted time to time. In the other hand, new reserve did not discover significantly to replace it all. Many people are investigating to looking for new alternative energy to answer the challenge. There are several option to solve energy fossil needed problem using Unconventional Hydrocarbon. There are four aspects to consider as a management reference in order that Unconventional Hydrocarbon business can work properly, divided to: 1. Legal aspect, 2. Environmental aspect, 3. Technical aspect and 4. Economy aspect. The economic aspect as the key to whether or not a project can be implemented or not in Oil and Gas business scheme, so do Unconventional Hydorcarbon business scheme. The support of regulation are needed to buttress Unconventional Hydorcarbon business grow up and make benefits contribute to Government.Keywords: alternative energy, unconventional hydrocarbon, regulation support, management strategy
Procedia PDF Downloads 3511447 Regulation and Transparency: The Case of Corporate Governance Disclosure on the Internet in the United Arab Emirates
Authors: Peter Oyelere, Fernando Zanella
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Corporate governance is one of the most discussed and researched issues in recent times in countries around the world, with different countries developing and adopting different governance structures, models and mechanisms. While the Codes of corporate governance have been weaved into the regulatory fabrics of most countries, it is equally critically important that their mechanisms, procedures and practices be transparent, and be transparently communicated to all stakeholders. The Internet can be a very useful and cost-effective tool for the timely and voluntary communication of corporate governance matters to stakeholders. The current paper details the results of an investigation on the extent of which companies listed in the UAE are using the Internet for communicating corporate governance issues, matters and procedures. We surveyed the websites of companies listed on the two UAE Stock Exchanges – the Abu Dhabi Stock Exchange (ADX) and the Dubai Financial Market (DFM) – to find out their level and nature of usage of the Internet for corporate governance disclosures. Regulatory and policy implications of the results of our investigation, as well as other areas for further studies, are also presented in the paper.Keywords: corporate governance, internet financial reporting, regulation, transparency, United Arab Emirates
Procedia PDF Downloads 3651446 SUMOylation Enhances Nurr1/1a Mediated Transactivation in a Neuronal Cell Type
Authors: Jade Edey, Andrew Bennett, Gareth Hathway
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Nuclear receptor-related 1 protein (also known as Nurr1 or NR4A2) is an orphan nuclear receptor which plays a vital role in the development, survival and maintenance of dopaminergic (DA) neurons particularly in the substantia nigra (SN). Increasing research has investigated Nurr1’s additional role within microglia and astrocytes where it has been suggested to act as a negative regulator of inflammation; potentially offering neuroprotection. Considering both DA neurodegeneration and neuroinflammation are commonly accepted constituents of Parkinson’s Disease (PD), understanding the mechanisms by which Nurr1 regulates inflammatory processes could provide an attractive therapeutic target. Nurr1 regulates inflammation via a transrepressive mechanism possibly dependent upon SUMOylation. In addition, Nurr1 can transactivate numerous genes involved in DA synthesis, such as Tyrosine Hydroxylase (TH). A C-terminal splice variant of Nurr1, Nurr-1a, has been reported in both neuronal and glial cells. However, research into its transcriptional activity is minimal. We employed in vitro methods such as SUMO-Pulldown experiments alongside Luciferase reporter assays to investigate the SUMOylation status and transactivation capabilities of Nurr1 and Nurr-1a respectively. The SUMO-Pulldown assay demonstrated Nurr-1a undergoes significantly more SUMO modification than its full-length variant. Consequently, despite having less transcriptional activation than Nurr1, Nurr1a may play a more prominent role in repression of microglial inflammation. Contrary to published literature we also identified that SUMOylation enhances transcriptional activation by Nurr1 and Nurr1a. SUMOylation-dependent increases in Nurr1 and Nurr1a transcriptional activation were only evident in neuronal SHSY5Y cells but not in HEK293 cells. This research provides novel insight into the regulation of Nurr-1a and indicates differential effects of SUMOylation dependent regulation in neuronal and inflammatory cells.Keywords: nuclear receptors, Parkinson’s disease, inflammation, transcriptional regulation
Procedia PDF Downloads 1541445 Tardiness and Self-Regulation: Degree and Reason for Tardiness in Undergraduate Students in Japan
Authors: Keiko Sakai
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In Japan, all stages of public education aim to foster a zest for life. ‘Zest’ implies solving problems by oneself, using acquired knowledge and skills. It is related to the self-regulation of metacognition. To enhance this, establishing good learning habits is important. Tardiness in undergraduate students should be examined based on self-regulation. Accordingly, we focussed on self-monitoring and self-planning strategies among self-regulated learning factors to examine the causes of tardiness. This study examines the impact of self-monitoring and self-planning learning skills on the degree and reason for tardiness in undergraduate students. A questionnaire survey was conducted, targeted to undergraduate students in University X in the autumn semester of 2018. Participants were 247 (average age 19.7, SD 1.9; 144 males, 101 females, 2 no answers). The survey contained the following items and measures: school year, the number of classes in the semester, degree of tardiness in the semester (subjective degree and objective times), active participation in and action toward schoolwork, self-planning and self-monitoring learning skills, and reason for tardiness (open-ended question). First, the relation between strategies and tardiness was examined by multiple regressions. A statistically significant relationship between a self-monitoring learning strategy and the degree of subjective and objective tardiness was revealed, after statistically controlling the school year and the number of classes. There was no significant relationship between a self-planning learning strategy and the degree of tardiness. These results suggest that self-monitoring skills reduce tardiness. Secondly, the relation between a self-monitoring learning strategy and the reason of tardiness was analysed, after classifying the reason for tardiness into one of seven categories: ‘overslept’, ‘illness’, ‘poor time management’, ‘traffic delays’, ‘carelessness’, ‘low motivation’, and ‘stuff to do’. Chi-square tests and Fisher’s exact tests showed a statistically significant relationship between a self-monitoring learning strategy and the frequency of ‘traffic delays’. This result implies that self-monitoring skills prevent tardiness because of traffic delays. Furthermore, there was a weak relationship between a self-monitoring learning strategy score and the reason-for-tardiness categories. When self-monitoring skill is higher, a decrease in ‘overslept’ and ‘illness’, and an increase in ‘poor time management’, ‘carelessness’, and ‘low motivation’ are indicated. It is suggested that a self-monitoring learning strategy is related to an internal causal attribution of failure and self-management for how to prevent tardiness. From these findings, the effectiveness of a self-monitoring learning skill strategy for reducing tardiness in undergraduate students is indicated.Keywords: higher-education, self-monitoring, self-regulation, tardiness
Procedia PDF Downloads 1351444 A Historical Overview of the General Implementation of the European Union Market Abuse Directive in the United Kingdom before the Brexit and Its Future Implications
Authors: Howard Chitimira
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The European Union (EU) was probably the first body to establish multinational anti-market abuse laws aimed at enhancing the detection and curbing of cross-border market abuse activities in its member states. Put differently, the EU Insider Dealing Directive was adopted in 1989 and was the first law that harmonised the insider trading ban among the EU member states. Thereafter, the European Union Directive on Insider Dealing and Market Manipulation (EU Market Abuse Directive) was adopted in a bid to improve and effectively discourage all the forms of market abuse in the EU’s securities and financial markets. However, the EU Market Abuse Directive had its own gaps and flaws. In light of this, the Market Abuse Regulation and the Criminal Sanctions for Market Abuse Directive were enacted to repeal and replace the EU Market Abuse Directive in 2016. The article examines the adequacy of the EU Market Abuse Directive and its implementation in the United Kingdom (UK) prior to the British exit (Brexit). This is done to investigate the possible implications of the Brexit referendum outcome of 23 June 2016 on the future regulation of market abuse in the UK.Keywords: market abuse, insider trading, market manipulation, European Union, United Kingdom
Procedia PDF Downloads 2521443 The Analysis of Regulation on Sustainability in the Financial Sector in Lithuania
Authors: Dalia Kubiliūtė
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Lithuania is known as a trusted location for global business institutions, and it attracts investors with it’s competitive environment for financial service providers. Along with the aspiration to offer a strong results-oriented and innovations-driven environment for financial service providers, Lithuanian regulatory authorities consistently implement the European Union's high regulatory standards for financial activities, including sustainability-related disclosures. Since European Union directed its policy towards transition to a climate-neutral, green, competitive, and inclusive economy, additional regulatory requirements for financial market participants are adopted: disclosure of sustainable activities, transparency, prevention of greenwashing, etc. The financial sector is one of the key factors influencing the implementation of sustainability objectives in European Union policies and mitigating the negative effects of climate change –public funds are not enough to make a significant impact on sustainable investments, therefore directing public and private capital to green projects may help to finance the necessary changes. The topic of the study is original and has not yet been widely analyzed in Lithuanian legal discourse. There are used quantitative and qualitative methodologies, logical, systematic, and critical analysis principles; hence the aim of this study is to reveal the problem of the implementation of the regulation on sustainability in the Lithuanian financial sector. Additional regulatory requirements could cause serious changes in financial business operations: additional funds, employees, and time have to be dedicated in order for the companies could implement these regulations. Lack of knowledge and data on how to implement new regulatory requirements towards sustainable reporting causes a lot of uncertainty for financial market participants. And for some companies, it might even be an essential point in terms of business continuity. It is considered that the supervisory authorities should find a balance between financial market needs and legal regulation.Keywords: financial, legal, regulatory, sustainability
Procedia PDF Downloads 1031442 Constraints to Partnership Based Financing in Islamic Banks: A Systematic Review of Literature
Authors: Muhammad Nouman, Salim Gul, Karim Ullah
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Partnership has been understood as the essence of Islamic banking. However, in practice, the non-partnership paradigm dominates the operations of Islamic banks. Islamic banks adopt partnership contracts for the scheme of deposits, especially for term deposit accounts. However, they do not adopt partnership contracts (i.e., Musharakah and Mudarabah) as the main financing scheme. In practice, non-partnership contracts including Murabahah and Ijara are widely used for financing. Many authors have provided different explanations for the less utilization of the partnership contracts as a scheme of financing. However, the typology of constraints remains missing. The extant literature remains scattered, with diverse studies focused on different dimensions of the issue. Therefore, there is no unified understanding of the constraints in the application of the partnership contracts. This paper aims to highlight the major factors hindering the application of partnership contracts, and produce a coherent view by synthesizing different explanations provided in several studies conducted around the globe. The present study employs insights form the extant literature using a systematic review and provides academia, practitioners, and policy makers with a holistic framework to name and make sense of what is making partnership contracts a less attractive option for Islamic banks. A total of 84 relevant publications including 11 books, 14 chapters of edited books, 48 journal articles, 8 conference papers and 3 IMF working papers were selected using a systematic procedure. Analysis of these selected publications followed three steps: i) In the first step of analysis the constraints explicitly appearing in the literature set of 84 articles were extracted, ii) In the second step 27 factors hindering the application of partnership contracts were identified from the constraints extracted in the first step with the overlapping items either eliminated or combined, iii) In the last step the factors identified in the second step were classified into three distinct categories. Our intention was to develop the typology of constraints by connecting the rather abstract concepts into the broader sets of constraints for better conceptualization and policy implications. Our framework highlights that there are mainly three facets of lower preference for partnership contracts of financing. First, there are several factors in the contemporary business settings, prevailing social setting, and the bank’s internal environment that underpin uncertainty in the success of partnership contracts of financing. Second, partnership contracts have lower demand i.e., entrepreneurs prefer to use non-partnership contracts for financing their ventures due to the inherent restraining characteristics of the partnership contracts. Finally, there are certain factors in the regulatory framework that restraint the extensive utilization of partnership contracts of financing by Islamic banks. The present study contributes to the Islamic banking literature in many ways. It provides clarification to the heavily criticized operations of Islamic banks, integrates the scattered literature, and provides a holistic framework for better conceptualization of the key constraints in the application of the partnership contracts and policy implications. Moreover, it demonstrates an application of systematic review in Islamic banking research.Keywords: Islamic banking, Islamic finance, Mudarabah, Musharakah, partnership, systematic review
Procedia PDF Downloads 2751441 A Comparison of Transdiagnostic Components in Generalized Anxiety Disorder, Unipolar Mood Disorder and Nonclinical Population
Authors: Imaneh Abbasi, Ladan Fata, Majid Sadeghi, Sara Banihashemi, Abolfazl Mohammadee
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Background: Dimensional and transdiagnostic approaches as a result of high comorbidity among mental disorders have captured researchers and clinicians interests for exploring the latent factors of development and maintenance of some psychological disorders. The goal of present study is to compare some of these common factors between generalized anxiety disorder and unipolar mood disorder. Methods: 27 patients with generalized anxiety disorder, 29 patients with depression disorder were recruited using SCID-I and 69 non-clinical population were selected using GHQ cut off point. MANCOVA was used for analyzing data. Results: The results show that worry, rumination, intolerance of uncertainty, maladaptive metacognitive beliefs, and experiential avoidance were all significantly different between GAD and unipolar mood disorder groups. However, there were not any significant differences in difficulties in emotion regulation and neuroticism between GAD and unipolar mood disorder groups. Discussion: Results indicate that although there are some transdiagnostic and common factors in GAD and unipolar mood disorder, there may be some specific vulnerability factors for each disorder. Further study is needed for answering these questions.Keywords: transdiagnostic, depression, generalized anxiety disorder, emotion regulation
Procedia PDF Downloads 4981440 Regulation of the Commercial Credits in the Foreign Exchange Operations
Authors: Marija Vicic
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The purpose of commercial credit regulation in an unified way under Law on Foreign Exchange Operations in Republic of Serbia allows an easier state monitoring of credit operations performed by non-professionals on foreign exchange market. By broadly defining the term “commercial credits“, the state (i.e. National Bank of Serbia) is given the authority to monitor the performance of all obligations under commercial contracts in which the obligations are not performed simultaneously. In the first part of the paper, the author analyses the economic gist of commercial credits with the purpose of giving an insight into their special treatment. The author examines the term „commercial credits“ given in Law on foreign exchange operations and the difference between financial credits and irregular commercial credits (exports and imports of goods and services deemed to be commercial credits) is particularly highlighted. In the second part, the author emphasizes the specifics of commercial credit contracts, especially the effects of special requests for the parties to these contracts to notify National Bank of Serbia and specific regulations regarding maturity of obligations under these commercial credits and the assignment and compensation of the said contracts.Keywords: commercial credit, foreign exchange operations, commercial transactions, deferred payment, advance payment, (non) resident
Procedia PDF Downloads 4211439 From Al Capone to Silk Road: Money Laundering Regulation for Cryptocurrency on the Horizon
Authors: Chinelle van der Westhuizen
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The introduction of cryptocurrencies as an alternative payment system have placed governments in a challenging position in relation to the regulatory status of cryptocurrencies and the money laundering activities associated with it. In April 2018, the Australian government amended its Anti-Money Laundering laws to regulate digital currency exchanges in an attempt to regulate money laundering activities and the introduction of ‘know-your-customer’ policies within the digital currency sector. Part one of this paper explores the use of cryptocurrencies for money laundering purposes and its significance to money launderers. Part two studies the efficacy of the current Australian Anti-Money Laundering laws and whether more can be done on a regulatory level. This paper will, therefore, highlight recent court decisions and legislation in terms of money laundering activities within these alternative payment systems in Australia and the United Kingdom. Part three of the paper will further analyze recent case studies by the Australian Transaction Reports and Analysis Centre and the Office for Professional Body Anti-Money Laundering Supervision in the United Kingdom as the regulatory bodies for money laundering activities. The case studies and research will explore the legal disputes and future regulation concerning the use of cryptocurrencies and money laundering on a national as well as international level. This paper intends to highlight that although cryptocurrency is viewed as an innovative global phenomenon and an alternative method of payment, there are a number of legal issues associated with its use that indicate the need for regulatory reform. It is recommended in this paper that the Financial Action Task Force, International Monetary Fund as well as concerned governments have ongoing discussions on these regulatory issues and how to address it appropriately, whether through legislation or universal guidelines. Therefore, the conclusion of this paper will emphasize the benefits of a regulatory regime for money laundering activities within the cryptocurrency space and that the lack of such a regime may be detrimental to countries.Keywords: cryptocurrency, know-your-customer policy, money laundering, regulation
Procedia PDF Downloads 1571438 Emotion Regulation in Young Adult Relationships in Relation to Parenting Styles
Authors: Taylor Brown
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The parent-child attachment bond begins early, often before the birth of the child. Both father and mother begin to form a bond with their child by selecting a name, preparing for the birth, etc. The biological mother carries the child and often breastfeeds the infant after birth. While fathers play an important role in caring for the child as well, the mother is traditionally seen as the caregiver with the primary role of caring for her baby. These core ideas could include how to form bonds, how to communicate emotions, and even how to create and maintain relationships. Mothers tend to shape their children’s minds based on their own. Studies have even shown that when mothers stroke their children’s bodies with their fingers, the child does calm down more than most other methods. The bond between mother and child is one that happens immediately and strengthens over time. This attachment affects the child’s overall development. The mother-child attachment style is directly linked to a multitude of patterns in adolescents, and later on, adults. The researcher believes that the subsequent patterns of communication in romantic relationships are included in the multitude. Awareness of these patterns and their effects could improve experiences in romantic relationships during young adulthood.Keywords: emotion regulation, parenting, maternal, attachment, romantic
Procedia PDF Downloads 1741437 Automatic Tuning for a Systemic Model of Banking Originated Losses (SYMBOL) Tool on Multicore
Authors: Ronal Muresano, Andrea Pagano
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Nowadays, the mathematical/statistical applications are developed with more complexity and accuracy. However, these precisions and complexities have brought as result that applications need more computational power in order to be executed faster. In this sense, the multicore environments are playing an important role to improve and to optimize the execution time of these applications. These environments allow us the inclusion of more parallelism inside the node. However, to take advantage of this parallelism is not an easy task, because we have to deal with some problems such as: cores communications, data locality, memory sizes (cache and RAM), synchronizations, data dependencies on the model, etc. These issues are becoming more important when we wish to improve the application’s performance and scalability. Hence, this paper describes an optimization method developed for Systemic Model of Banking Originated Losses (SYMBOL) tool developed by the European Commission, which is based on analyzing the application's weakness in order to exploit the advantages of the multicore. All these improvements are done in an automatic and transparent manner with the aim of improving the performance metrics of our tool. Finally, experimental evaluations show the effectiveness of our new optimized version, in which we have achieved a considerable improvement on the execution time. The time has been reduced around 96% for the best case tested, between the original serial version and the automatic parallel version.Keywords: algorithm optimization, bank failures, OpenMP, parallel techniques, statistical tool
Procedia PDF Downloads 3691436 Nearly Zero-Energy Regulation and Buildings Built with Prefabricated Technology: The Case of Hungary
Authors: András Horkai, Attila Talamon, Viktória Sugár
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There is an urgent need nowadays to reduce energy demand and the current level of greenhouse gas emission and use renewable energy sources increase in energy efficiency. On the other hand, the European Union (EU) countries are largely dependent on energy imports and are vulnerable to disruption in energy supply, which may, in turn, threaten the functioning of their current economic structure. Residential buildings represent a significant part of the energy consumption of the building stock. Only a small part of the building stock is exchanged every year, thus it is essential to increase the energy efficiency of the existing buildings. Present paper focuses on the buildings built with industrialized technology only, and their opportunities in the boundaries of nearly zero-energy regulation. Current paper shows the emergence of panel construction method, and past and present of the ‘panel’ problem in Hungary with a short outlook to Europe. The study shows as well as the possibilities for meeting the nearly zero and cost optimized requirements for residential buildings by analyzing the renovation scenarios of an existing residential typology.Keywords: Budapest, energy consumption, industrialized technology, nearly zero-energy buildings
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