Search results for: business intelligence capability

Authors: Nidhal Mgadmi, Abdelhafidh Othmani

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This article examines the causal relationship between stock indices and cryptocurrencies during the current war between Russia and Ukraine. The econometric investigation runs from February 24, 2022, to April 12, 2023, focusing on seven stock market indices (S&P500, DAX, CAC40, Nikkei, TSX, MOEX, and PFTS) and seven cryptocurrencies (Bitcoin, Ethereum, Litcoin, Dash, Ripple, DigiByte and XEM). In this article, we try to understand how investors react to fluctuations in financial assets to seek safe havens in cryptocurrencies. We used dynamic causality to detect a possible causal relationship in the short term and seven models to estimate the long-term relationship between cryptocurrencies and financial assets. The causal relationship between financial market indexes and cryptocurrency coins in the short run indicates that three famous cryptocurrencies (BITCOIN, ETHEREUM, RIPPLE) and the two digital assets with minor popularity (XEM, Digibyte) are impacted by the German, Russian, and Ukrainian stock markets. In the long run, we found a positive and significate effect of the American, Canadian, French, and Ukrainian stock market indexes on Bitcoin. Thus, the stability of the traditional financial markets during the current war period can be explained on the one hand by investors’ fears of an unstable business climate, and on the other hand, by speculators’ sentiment towards new electronic products, which are perceived as hedging instruments and a safe haven in the face of the conflict between Ukraine and Russia.

Keywords: causality, stock indices, cryptocurrency, war, Russia, Ukraine

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Authors: Javad Izadi, Sahar Majioud

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This study presents an approach of assessing the choice of performance measures of companies in the United Kingdom after the application of IFRS in 2005. The aim of this study is to investigate the effects of IFRS on the choice of performance evaluation methods for UK companies. We analyse through an econometric model the relationship of the dependent variable, the firm’s performance, which is a nominal variable with the independent ones. Independent variables are split into two main groups: the first one is the group of accounting-based measures: Earning per share, return on assets and return on equities. The second one is the group of market-based measures: market value of property plant and equipment, research and development, sales growth, market to book value, leverage, segment and size of companies. Concerning the regression used, it is a multinomial logistic regression performed on a sample of 130 UK listed companies. Our finding shows after IFRS adoption, and companies give more importance to some variables such as return on equities and sales growth to assess their performance, whereas the return on assets and market to book value ratio does not have as much importance as before IFRS in evaluating the performance of companies. Also, there are some variables that have no impact on the performance measures anymore, such as earning per share. This article finding is empirically important for business in subjects related to IFRS and companies’ performance measurement.

Keywords: performance’s Measure, nominal variable, econometric model, evaluation methods

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Authors: Ali Alavi, Hong-Oanh Nguyen, ‎Jiangang Fei, Jafar Sayareh

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The recent competitive market in the port sector highly depend on logistics practices, functions ‎and activities and seaports play a key role in port logistics chains. Despite the well-articulated importance of ports and terminals in integrated logistics, the role of success factors in port logistics integration has been rarely mentioned‎. The objective of this paper is to ‎fill this gap in the literature and provide an insight into how seaports and terminals may improve their logistics integration. First, a literature review of studies on logistics integration in seaports and terminals is conducted. Second, a new conceptual framework for port logistics integration is proposed to incorporate the role of the new variables emerging from the recent developments in the global business environment. Third, the model tested in Iranian port and maritime sector using self-administered and online survey among logistics chain actors in Iranian seaports such shipping line operators, logistics service providers, port authorities, logistics companies and other related actors. The results have found the logistics process and operations, information integration, ‎value-added services, and logistics practices being influential to logistics integration. A proposed conceptual framework is developed to extend the existing ‎framework and incorporates the variables namely organizational activities, resource ‎sharing, and institutional support.‎ Further examination of the proposed model across multiple contexts is necessary for the validity of the findings. The framework could be more detailed on each factor and consider actors perspective.

Keywords: maritime logistics‎, port integration‎, logistics integration‎, supply chain integration

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Authors: M. Shiva Prasad, S. R. Atchuta, T. Vijayaraghavan, S. Sakthivel

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The world is in need of efficient energy conversion technologies which are affordable, accessible, and sustainable with eco-friendly nature. Solar energy is one of the cornerstones for the world’s economic growth because of its abundancy with zero carbon pollution. Among the various solar energy conversion technologies, solar thermal technology has attracted a substantial renewed interest due to its diversity and compatibility in various applications. Solar thermal systems employ concentrators, tracking systems and heat engines for electricity generation which lead to high cost and complexity in comparison with photovoltaics; however, it is compatible with distinct thermal energy storage capability and dispatchable electricity which creates a tremendous attraction. Apart from that, employing cost-effective solar selective receiver tube in a concentrating solar thermal (CST) system improves the energy conversion efficiency and directly reduces the cost of technology. In addition, the development of solar receiver tubes by low cost methods which can offer high optical properties and corrosion resistance in an open-air atmosphere would be beneficial for low and medium temperature applications. In this regard, our work opens up an approach which has the potential to achieve cost-effective energy conversion. We have developed a highly selective tandem absorber coating through a facile wet chemical route by a combination of chemical oxidation, sol-gel, and nanoparticle coating methods. The developed tandem absorber coating has gradient refractive index nature on stainless steel (SS 304) and exhibited high optical properties (α ≤ 0.95 & ε ≤ 0.14). The first absorber layer (Cr-Mn-Fe oxides) developed by controlled oxidation of SS 304 in a chemical bath reactor. A second composite layer of ZrO₂-SiO₂ has been applied on the chemically oxidized substrate by So-gel dip coating method to serve as optical enhancing and corrosion resistant layer. Finally, an antireflective layer (MgF₂) has been deposited on the second layer, to achieve > 95% of absorption. The developed tandem layer exhibited good thermal stability up to 250 °C in open air atmospheric condition and superior corrosion resistance (withstands for > 200h in salt spray test (ASTM B117)). After the successful development of a coating with targeted properties at a laboratory scale, a prototype of the 1 m tube has been demonstrated with excellent uniformity and reproducibility. Moreover, it has been validated under standard laboratory test condition as well as in field condition with a comparison of the commercial receiver tube. The presented strategy can be widely adapted to develop highly selective coatings for a variety of CST applications ranging from hot water, solar desalination, and industrial process heat and power generation. The high-performance, cost-effective medium temperature receiver tube technology has attracted many industries, and recently the technology has been transferred to Indian industry.

Keywords: concentrated solar thermal system, solar selective coating, tandem absorber, ultralow refractive index

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Authors: Olatokunbo Shoyemi, Mario Brito, Ian Dawson

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In recent times, the Nigerian motor insurers have experienced high volume of motor insurance claim pay-outs and insignificant contribution to the net premium income of the Nigerian insurance market, which has been a major concern for the shareholders/stakeholders. It has been argued that there are many factors that have brought about these concerns. However, anecdotal evidence (ongoing debates among industry practitioners) suggests prevalence of fraud due to poor practices in motor insurance business in Nigeria. This study is therefore aimed to carry out an assessment of fraud in motor insurance claims as perceived by experts in the Nigerian insurance market. This study adopted a descriptive research design, and the analysis was built on a survey among insurance experts in Nigeria using a designed questionnaire. A purposive and snowball sampling were used to select our sample (N = 120) - representing a selection of all professionally qualified insurance experts in Nigeria insurance industry. The study found that Nigerian insurance experts (i) largely agree that there is a problematic level of fraud in the Nigerian motor insurance industry; (ii) perceive soft fraud to be about 3 times more common than hard fraud in the Nigerian motor insurance industry, and (iii) strongly agree there are problematic impacts from fraud on the solvency of the Nigerian motor insurers. This paper has provided an empirical understanding of the existence, extent, and impact of fraud risks within the Nigerian insurance market based on expert knowledge and insights rather than, as has often been the case, a reliance on individual anecdotes.

Keywords: claims, net premium income, motor insurance, soft fraud, hard fraud

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Authors: David Calderon Villegas, Thomas Kaltizky

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Run-of-river (RoR) hydropower projects represent a viable, clean, and cost-effective alternative to dam-based plants and provide decentralized power production. However, RoR schemes cost-effectiveness depends on the proper selection of site and design flow, which is a challenging task because it requires multivariate analysis. In this respect, this study presents the development of an investment decision support tool for assessing the optimal size of an RoR scheme considering the technical, environmental, and cost constraints. The net present value (NPV) from a project perspective is used as an objective function for supporting the investment decision. The tool has been tested by applying it to an actual RoR project recently proposed in Colombia. The obtained results show that the optimum point in financial terms does not match the flow that maximizes energy generation from exploiting the river's available flow. For the case study, the flow that maximizes energy corresponds to a value of 5.1 m3/s. In comparison, an amount of 2.1 m3/s maximizes the investors NPV. Finally, a sensitivity analysis is performed to determine the NPV as a function of the debt rate changes and the electricity prices and the CapEx. Even for the worst-case scenario, the optimal size represents a positive business case with an NPV of 2.2 USD million and an IRR 1.5 times higher than the discount rate.

Keywords: small hydropower, renewable energy, RoR schemes, optimal sizing, objective function

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Authors: Laila Akbarali

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In the small scale study, an attempt is made to explore the structure and administrative relationships adopted by Multi Campus Universities [MCU] in UK and Pakistan and how these universities deal with some selected issues with respect to student related functions. For this study, literature on multi-site, divisionalized and other complex organizations related to business and Industry was consulted and an attempt was made to empirically test the normative models in the literature with respect to centralized , deconcentrated and decentralized structures. A questionnaire was used to gather data for this study. Purposive sampling was used. The findings of this study are somewhat different for UK and Pakistan. Contrary to a substantial body of organization theory, the results show that deconcentrated and decentralized universities in the UK are prone to delays in decision making and tend not to sensitive to local needs. In Pakistan on the other hand, deconcentrated and decentralized universities are more sensitive to local needs and there are less delays in decision making. The findings suggest that distance and reporting relationships could perhaps be responsible for the contradiction. The results also suggest that there is better coordination when the subsidiary campus sub-registrar reports to the registrar. The findings also highlight, that in both contexts, leadership at the campus level remains an issue. The results suggest that there may be factors other than structure that allow universities to keep their identity intact. The study highlights that MCU are inclined to use Information Technology and develop broad policies within which they allow their campuses to operate.

Keywords: administrative relationships, Multi-Campus, organization structure, registrar

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Authors: Kunal Garg, Louise Theusen Hermansan, Kanoktip Puttaraska, Oliver Hendricks, Heidi Pirttinen, Leona Gilbert

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The Germ Theory (one infectious determinant is equal to one disease) has unarguably evolved our capability to diagnose and treat infectious diseases over the years. Nevertheless, the advent of technology, climate change, and volatile human behavior has brought about drastic changes in our environment, leading us to question the relevance of the Germ Theory in our day, i.e. will vector-borne disease (VBD) sufferers produce multiple immune responses when tested for multiple microbes? Vector diseased patients producing multiple immune responses to different microbes would evidently suggest human polymicrobial infections (HPI). Ongoing diagnostic tools are exceedingly unequipped with the current research findings that would aid in diagnosing patients for polymicrobial infections. This shortcoming has caused misdiagnosis at very high rates, consequently diminishing the patient’s quality of life due to inadequate treatment. Equipped with the state-of-art scientific knowledge, PolyScan intends to address the pitfalls in current VBD diagnostics. PolyScan is a multiplex and multifunctional enzyme linked Immunosorbent assay (ELISA) platform that can test for numerous VBD microbes and allow simultaneous screening for multiple types of antibodies. To validate PolyScan, Lyme Borreliosis (LB) and spondyloarthritis (SpA) patient groups (n = 54 each) were tested for Borrelia burgdorferi, Borrelia burgdorferi Round Body (RB), Borrelia afzelii, Borrelia garinii, and Ehrlichia chaffeensis against IgM and IgG antibodies. LB serum samples were obtained from Germany and SpA serum samples were obtained from Denmark under relevant ethical approvals. The SpA group represented chronic LB stage because reactive arthritis (SpA subtype) in the form of Lyme arthritis links to LB. It was hypothesized that patients from both the groups will produce multiple immune responses that as a consequence would evidently suggest HPI. It was also hypothesized that the multiple immune response proportion in SpA patient group would be significantly larger when compared to the LB patient group across both antibodies. It was observed that 26% LB patients and 57% SpA patients produced multiple immune responses in contrast to 33% LB patients and 30% SpA patients that produced solitary immune responses when tested against IgM. Similarly, 52% LB patients and an astounding 73% SpA patients produced multiple immune responses in contrast to 30% LB patients and 8% SpA patients that produced solitary immune responses when tested against IgG. Interestingly, IgM immune dysfunction in both the patient groups was also recorded. Atypically, 6% of the unresponsive 18% LB with IgG antibody was recorded producing multiple immune responses with the IgM antibody. Similarly, 12% of the unresponsive 19% SpA with IgG antibody was recorded producing multiple immune responses with the IgM antibody. Thus, results not only supported hypothesis but also suggested that IgM may atypically prevail longer than IgG. The PolyScan concept will aid clinicians to detect patients for early, persistent, late, polymicrobial, & immune dysfunction conditions linked to different VBD. PolyScan provides a paradigm shift for the VBD diagnostic industry to follow that will drastically shorten patient’s time to receive adequate treatment.

Keywords: diagnostics, immune dysfunction, polymicrobial, TICK-TAG

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Authors: Nazira Kakulia

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The analysis of transformation of institutional changes outlines two important characteristics. These are: the speed of the changes and their sequence. Successful transformation must be carried out in three different stages; On the first stage, macroeconomic stabilization must be achieved with the help of fiscal and monetary tools. Two-tier banking system should be established and the active functions of central bank should be replaced by the passive ones (reserve requirements and refinancing rate), together with the involvement growth of private sector. Fiscal policy by itself here means the creation of tax system which must replace previously existing direct state revenues; the share of subsidies in the state expenses must be reduced also. The second stage begins after reaching the macroeconomic stabilization at a time of change of formal institutes which must stimulate the private business. Corporate legislation creates a competitive environment at the market and the privatization of state companies takes place. Bankruptcy and contract law is created. he third stage is the most extended one, which means the formation of all state structures that is necessary for the further proper functioning of a market economy. These three stages about the cycle period of political and social transformation and the hierarchy of changes can also be grouped by the different methodology: on the first and the most short-term stage the transfer of power takes place. On the second stage institutions corresponding to new goal are created. The last phase of transformation is extended in time and it includes the infrastructural, socio-cultural and socio-structural changes. The main goal of this research is to explore and identify the features of such kind of models.

Keywords: competitive environment, fiscal policy, macroeconomic stabilization, tax system

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Authors: B. Adebayo, A. A. Adebayo

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Adequate power generation and supply are enormous challenges confronting Nigeria state today. This is a powerful mechanism that drives industrial development and socio-economy of any nation. The present level of power generation and supply have become national embarrassment to both government and the citizens of Nigeria, where over 60% of the population have no access to electricity. This paper is set to review the abundant clean energy alternative sources available in abundance that are capable of boosting power generation. The clean energy sources waiting to be exploited include: nuclear, solar and wind energy. The environmental benefits of these sources of power generation are identified. Nuclear energy is a powerful clean energy source. However, Africa accounted for 20% of known recoverable reserve and uranium produces heat of 500,000 MJ/kg. Moreover, Nigeria receives average daily solar radiation of over 5.249 kWh/m2/day. Researchers have shown that wind speed and power flux densities varied from 1.5 – 4.1 m/s and 5.7 – 22.5 W/m2 respectively. It is a fact that the cost of doing business in Nigeria is very high, leading to winding up of the multi-national companies and then led to increase unemployment level. More importantly, readily available vast quantity of energy will reduce cost of running industries. Hence, more industries will come on board, goods, services, and more job creation will be achieved. This clean source of power generation is devoid of production of green house gases, elimination of environmental pollution, and reduced waste disposal. Then Nigerians will live in harmony with the environment.

Keywords: power, generation, energy, mix, clean, industrial

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Authors: Rowland R. Ogunrinde, Yusmadi Y. Jusoh, Noraini Che Pa, Wan Nurhayati W. Rahman, Azizol B. Abdullah

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Enterprise Applications (EAs) aid the organizations achieve operational excellence and competitive advantage. Over time, most Small and Medium Enterprises (SMEs), which are known to be the major drivers of most thriving global economies, use the costly on-premise versions of these applications thereby making business difficult to competitively thrive in the same market environment with their large enterprise counterparts. The advent of cloud computing presents the SMEs an affordable offer and great opportunities as such EAs can be cloud-hosted and rented on a pay-per-use basis which does not require huge initial capital. However, as there are numerous Cloud Service Providers (CSPs) offering EAs as Software-as-a-Service (SaaS), there is a challenge of choosing a suitable provider with Quality of Service (QoS) that meet the organizations’ customized requirements. The proposed model takes care of that and goes a step further to select the most affordable among a selected few of the CSPs. In the earlier stage, before developing the instrument and conducting the pilot test, the researchers conducted a structured interview with three experts to validate the proposed model. In conclusion, the validity and reliability of the instrument were tested through experts, typical respondents, and analyzed with SPSS 22. Results confirmed the validity of the proposed model and the validity and reliability of the instrument.

Keywords: cloud service provider, enterprise application, quality of service, selection criteria, small and medium enterprise

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Authors: Zety Shakila Binti Mohd Yusof, Muhammad Adib Bin Ishak, Hajah Fatimah Binti Hussein

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The international shipping business is related to numerous controls or regulations of export and import shipments. It is costly and time consuming, and when something goes wrong or when the buyer or seller fails to comply with the regulations, it can result in penalties, delays, and unexpected costs etc. For the focus of this study, the researchers have selected a local forwarder that provides forwarding and clearance services, Nexus Zone Logistics. It was identified that this company currently has many extra costs to be paid including local and detention charges, which negatively impacts the flow of income and reduces overall stability. Two variables have been identified as factors of extra charges; loaded containers entering the port by exceeded closing time and late delivery of empty containers to the container yard. This study is a qualitative in nature and the secondary data collected was analyzed using self-administered observation. The findings of this study were covered by one selected case for each export and import shipment between July and December 2014. The data were analyzed using frequency analysis based on tables and graphs. The researcher recommends Nexus Zone Logistics impose a 1% deposit payment per container for each shipment (export and import) to its customers.

Keywords: international shipping, export and import, detention charges, container shipment

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Authors: Fatemeh Torabi, Jamal El-Den, Narumon Sriratanviriyakul

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Perpetual changes in the workplace and daily business activities bring a need for imbedding organizational knowledge sharing within the organizations’ culture, routines and processes. Organizations should adapt to the changing in the environment in order to survive. Accordingly, the management should promote a knowledge sharing culture which might result in knowledge accumulation, hence better response to these changing environmental conditions. Researchers in the field of strategy and marketing stressed that employees’, as well as the overall performance of the organization, would improve as a result of implementing a knowledge-oriented culture. The research investigated the significant impact of knowledge sharing on market response and the competitiveness of organizations. A knowledge sharing framework was developed based on current literary frameworks with additional constructs such as employees’ learning commitments, experiences and prior knowledge. Linear regression was used to analyze the relationships among dependent and independent variables. The research’s results indicated strong positive correlation between the dependent and independent variables, especially in organizational market sharing. We anticipate that this correlation would improve organizational knowledge sharing related practices and the associated knowledge entities. The research posits the introduced framework could be a solid ground for further investigations on how some organizational factors would influence the organization’s response to the market as well as on competitiveness. Final results support all hypotheses. Finding of this research show that knowledge sharing intention had the significant and positive effect on market response and competitiveness of organizations.

Keywords: knowledge management, knowledge sharing, market response, organizational competitiveness

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Authors: M. C. Venter, G. Hitge, S. C. Krygsman, J. Thiart

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For decades, South Africa has been planning transportation systems from a supply, rather than a demand side, perspective. In terms of parking, this relates to requiring the minimum parking provision that is enforced by city officials. Newer insight is starting to indicate that South Africa needs to re-think this philosophy in light of a new policy environment that desires a different outcome. Urban policies have shifted from reliance on the private car for access, to employing a wide range of alternative modes. Car dominated travel is influenced by various parameters, of which the availability and location of parking plays a significant role. The question is therefore, what is the right strategy to achieve the desired transport outcomes for SA. The focus of this paper is used to assess this issue with regard to parking provision, and specifically at a tertiary institution. A parking audit was conducted at the Stellenbosch campus of Stellenbosch University, monitoring occupancy at all 60 parking areas, every hour during business hours over a five-day period. The data from this survey was compared with the prescribed number of parking bays according to the Stellenbosch Municipality zoning scheme (requiring a minimum of 0.4 bays per student). The analysis shows that by providing 0.09 bays per student, the maximum total daily occupation of all the parking areas did not exceed an 80% occupation rate. It is concluded that the prevailing parking standards are not supportive of the new urban and transport policy environment, but that it is extremely conservative from a practical demand point of view.

Keywords: parking provision, parking requirements, travel behaviour, travel demand management

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Authors: B. Bricklin Zeff

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This research explores the development and application of a specialized chatbot tailored for a nursing English course, with a primary objective of augmenting student engagement through situational content and responsiveness to key expressions and vocabulary. Introducing the chatbot, elucidating its purpose, and outlining its functionality are crucial initial steps in the research study, as they provide a comprehensive foundation for understanding the design and objectives of the specialized chatbot developed for the nursing English course. These elements establish the context for subsequent evaluations and analyses, enabling a nuanced exploration of the chatbot's impact on student engagement and language learning within the nursing education domain. The subsequent exploration of the intricate language model development process underscores the fusion of scientific methodologies and artistic considerations in this application of artificial intelligence (AI). Tailored for educators and curriculum developers in nursing, practical principles extending beyond AI and education are considered. Some insights into leveraging technology for enhanced language learning in specialized fields are addressed, with potential applications of similar chatbots in other professional English courses. The overarching vision is to illuminate how AI can transform language learning, rendering it more interactive and contextually relevant. The presented chatbot is a tangible example, equipping educators with a practical tool to enhance their teaching practices. Methodologies employed in this research encompass surveys and discussions to gather feedback on the chatbot's usability, effectiveness, and potential improvements. The chatbot system was integrated into a nursing English course, facilitating the collection of valuable feedback from participants. Significant findings from the study underscore the chatbot's effectiveness in encouraging more verbal practice of target expressions and vocabulary necessary for performance in role-play assessment strategies. This outcome emphasizes the practical implications of integrating AI into language education in specialized fields. This research holds significance for educators and curriculum developers in the nursing field, offering insights into integrating technology for enhanced English language learning. The study's major findings contribute valuable perspectives on the practical impact of the chatbot on student interaction and verbal practice. Ultimately, the research sheds light on the transformative potential of AI in making language learning more interactive and contextually relevant, particularly within specialized domains like nursing.

Keywords: chatbot, nursing, pragmatics, role-play, AI

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Authors: Harris Niavis, Dimitra Politaki

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The manufacturing industry was collecting vast amounts of data for monitoring product quality thanks to the advances in the ICT sector and dedicated IoT infrastructure is deployed to track and trace the production line. However, industries have not yet managed to unleash the full potential of these data due to defective data collection methods and untrusted data storage and sharing. Blockchain is gaining increasing ground as a key technology enabler for Industry 4.0 and the smart manufacturing domain, as it enables the secure storage and exchange of data between stakeholders. On the other hand, AI techniques are more and more used to detect anomalies in batch and time-series data that enable the identification of unusual behaviors. The proposed scheme is based on smart contracts to enable automation and transparency in the data exchange, coupled with anomaly detection algorithms to enable reliable data ingestion in the system. Before sensor measurements are fed to the blockchain component and the smart contracts, the anomaly detection mechanism uniquely combines artificial intelligence models to effectively detect unusual values such as outliers and extreme deviations in data coming from them. Specifically, Autoregressive integrated moving average, Long short-term memory (LSTM) and Dense-based autoencoders, as well as Generative adversarial networks (GAN) models, are used to detect both point and collective anomalies. Towards the goal of preserving the privacy of industries' information, the smart contracts employ techniques to ensure that only anonymized pointers to the actual data are stored on the ledger while sensitive information remains off-chain. In the same spirit, blockchain technology guarantees the security of the data storage through strong cryptography as well as the integrity of the data through the decentralization of the network and the execution of the smart contracts by the majority of the blockchain network actors. The blockchain component of the Data Traceability Software is based on the Hyperledger Fabric framework, which lays the ground for the deployment of smart contracts and APIs to expose the functionality to the end-users. The results of this work demonstrate that such a system can increase the quality of the end-products and the trustworthiness of the monitoring process in the smart manufacturing domain. The proposed AI-enabled data traceability software can be employed by industries to accurately trace and verify records about quality through the entire production chain and take advantage of the multitude of monitoring records in their databases.

Keywords: blockchain, data quality, industry4.0, product quality

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Authors: Imen Latrous

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Family firm is the most common form of business organization in the world. Many family businesses rely heavily on their own capital to finance their expansion. This dependence on internal funds for their investment may be deliberate to maintain the family dominant position or involuntary as family firms have limited access to external funds. Our understanding of family firm’s choice to fund their own growth using existing capital is somewhat limited. The aim of this paper is to study whether the presence of a controlling family in the company either mitigates or exacerbates external financing constraints. The impact of family ownership on investment–cash flow sensitivity is ultimately an empirical question. We use a sample of 406 Canadian firms listed in Toronto Stock exchange (TSX) over the period 2005–2014 in order to explore this relationship. We distinguish between three elements in the definition of family firms, specifically ownership, control and management, to explore the issue whether family firms are more efficient organisational form. Our research contributes to the extant literature on family ownership in several ways. First, as our understanding of family firm’s investment cash flow sensitivity is somewhat limited in recession times, we explore the effect of family firms on the relation between investment and cash flow during the recent 2007-2009 financial crisis. We also analyse this relationship difference between family firms and non family firms before and during financial crisis. Finally, our paper addresses the endogeneity problem of family ownership and investment-cash flow sensitivity.

Keywords: family firms, investment–cash flow sensitivity, financial crisis, corporate governance

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Authors: Alina P. Colling, Robert G. Hekkenberg

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Recent years have seen extensive technological advancement in truck platooning, as reflected in the literature. Its main benefits are the improvement of traffic stability and the reduction of air drag, resulting in less fuel consumption, in comparison to using individual trucks. Platooning is now being adapted to the waterborne transport sector in the NOVIMAR project through the development of a Vessel Train (VT) concept. The main focus of VT’s, as opposed to the truck platoons, is the decrease in manning on board, ultimately working towards autonomous vessel operations. This crew reduction can prove to be an important selling point in achieving economic competitiveness of the waterborne approach when compared to alternative modes of transport. This paper discusses the expected benefits and drawbacks of the VT concept, in terms of the technical logistic performance and generalized costs. More specifically, VT’s can provide flexibility in destination choices for shippers but also add complexity when performing special manoeuvres in VT formation. In order to quantify the cost and performances, a model is developed and simulations are carried out for various case studies. These compare the application of VT’s in the short sea and inland water transport, with specific sailing regimes and technologies installed on board to allow different levels of autonomy. The results enable the identification of the most important boundary conditions for the successful operation of the waterborne platooning concept. These findings serve as a framework for future business applications of the VT.

Keywords: autonomous vessels, NOVIMAR, vessel trains, waterborne platooning

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Authors: Brahim Ouzaka, Said Ouhadi

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Family businesses (FB) represent the oldest and most resilient form of organization. However, they are weakened by problems of entrepreneurial discontinuity. The objective of this paper is to analyze the problem of the succession of FBs created by senior entrepreneurs. This study analyzes and explores the constructs of senior entrepreneurship and the strategy and takeover policies of the Moroccan Family owned Small and Medium-Sized Businesses. Our main research question is formulated as follows: how does senior entrepreneurship promote the takeover of Moroccan family SMEs? So we aim through this study to analyze the challenge of the takeover of the FB created by senior entrepreneurs in order to explore and understand the specificities, choices and strategies as well as the reality of the takeover process among this category of senior entrepreneurs. After a review of the literature on the relationship between the constructs of senior entrepreneurship and the takeover of FBs, the empirical study will consist of an exploratory qualitative approach of 3 family SMEs created by senior entrepreneurs and subsequently transmitted to their descendants. This qualitative research serves to explore the choices, the strategies as well as the specificities of the entrepreneurial acts and processes of this category of entrepreneurs. The interviews were conducted with senior entrepreneurs and successors of three Moroccan family SMEs, focusing on the specificity of entrepreneurial actions and strategies in the case of SMEs launched by senior entrepreneurs and on the reality of the conduct and preparation of the takeover process, the methods of socialization and training of buyers in the context of these companies.

Keywords: senior entrepreneurship, family SME, family business, takeover

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Authors: Irfan Khairi

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It is arguable that today's social media has dramatically redefined human contact, and chiefly because the platforms enable communication opportunities unprecedented. Without question, billions of individuals globally engage in the media, a reality by no means lost on businesses and social entrepreneurs desirous of generating interest in a cause, movement, or other social effort. If, however, the opportunities are immense, so too is the competition. Private persons and entrepreneurial concerns alike virtually saturate the popular sites of Facebook, Twitter, and Instagram, and most are intent on capturing as much external interest as possible. At the same time, however, the social entrepreneur possesses an advantage over the individual concerned only the social aspects of the sites, as they express interests in, and measures applicable to, important causes of which the public at large may be unaware. There is, unfortunately, no single means of assuring success in using the media outlets to generate interest. Nonetheless, a general awareness of how social media sites function, as well as the psychological elements relevant to the functioning, is necessary. It is as important to comprehend basic realities of the platforms and approaches that fail as it is to develop strategy, for the latter relies on knowledge of the former. This awareness in place, the social entrepreneur is then better enabled to determine strategy, in terms of which sites to focus upon and how to most effectively convey their message. What is required is familiarity with the online communities, with attention to the specific advantages each provides. Ultimately, today's social entrepreneur may establish a highly effective platform of promotion and engagement, provided they fully comprehend the social investment necessary for success.

Keywords: social media, marketing, e-commerce, internet business

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Authors: Prakash Singh

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Far-reaching organizational and structural changes are required to address the severe imbalances in the provision and strong bureaucratic controls in many organizations at all levels. Transformational collegial leadership (TCL) is a collective action generated by transforming leadership which empowers all individuals who participate in this process, whether it is in business or education, or in any other organization. Recent research is strongly supportive of collegiality as a key factor in transforming traditional bureaucratic management practices (TBMPs) in organizations. The primary objective of this study was therefore to gauge the extent to which organizations have affected a shift from TBMPs towards TCL and how this can affect the development of human resources. This qualitative study investigated the impact of TCL on developing human resources in two organizations which were purposively selected to participate in this study. The findings of this study affirm that human resource development and TCL embrace the values of collaboration, confrontation, authenticity, trust, support and openness. In order to overcome TBMPs, a clear sense of direction must be communicated by collegial leaders throughout their organizations so that lower-level employees can initiate actions without the same degree of vulnerability. The TCL approach must respond to needs amongst followers and must look for motives, extrinsic and intrinsic, to satisfy those needs by enhancing opportunities, empowering people and giving more freedom, performance evaluation and the full support of the leader. Evidently, the collegial model emphasizes the valuing of individuals where there is a breadth of leadership and an absence of hierarchy.

Keywords: bureaucratic management model, human resource development, transformational collegial leadership model, transforming leader

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Authors: Ayan Giri, Lukaranjan Phukan, Shantanu Karmakar

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Structure and tectonics play a vital role in ore genesis and deposition. The existence of a swelling structure below the current level of a mine leads to the discovery of ores below some permeant developments of the mine. The discovery and the extraction of the ore body are very critical to sustain the business requirement of the mine. The challenge was to extract the ore without hampering the global stability of the mine. In order to do so, different mining options were considered and analysed by numerical modelling in FLAC3d software. The constitutive model prepared for this simulation is the improved unified constitutive model, which can better and more accurately predict the stress-strain relationships in a continuum model. The IUCM employs the Hoek-Brown criterion to determine the instantaneous Mohr-Coulomb parameters cohesion (c) and friction (ɸ) at each level of confining stress. The extra swelled part can be dimensioned as north-south strike width 50m, east-west strike width 50m. On the north side, already a stope (P1) is excavated of the dimension of 25m NS width. The different options considered were (a) Open stoping of extraction of southern part (P0) of 50m to the full extent, (b) Extraction of the southern part of 25m, then filling of both the primaries and extraction of secondary (S0) 25m in between. (c) Extraction of the southern part (P0) completely, preceded by backfill and modify the design of the secondary (S0) for the overall stability of the permanent excavation above the stoping.

Keywords: extraction, IUCM, FLAC 3D, stoping, tectonics

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Authors: Malihe Shahidan, Azin Madhi, Meisam Shahbaz

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In recent decades, the role of supply chains in sustaining businesses and establishing their superiority in the market has been under focus. The realization of the goals and strategies of a business enterprise is largely dependent on the cooperation of the chain, including suppliers, distributors, retailers, etc. Supply chains can potentially be disrupted by both internal and external factors. In this paper, resilience strategies have been identified and analyzed in three levels: sourcing, producing, and distributing by considering economic depression as a current risk factor for the machine-made rugs industry. In this study, semi-structured interviews for data gathering and thematic analysis for data analysis are applied. Supply chain data has been gathered from seven rug factories before and after the economic depression through semi-structured interviews. The identified strategies were derived from literature review and validated by collecting data from a group of eighteen industry and university experts, and the results were analyzed using statistical tests. Finally, the outsourcing of new products and products in the new market, the development and completion of the product portfolio, the flexibility in the composition and volume of products, the expansion of the market to price-sensitive, direct sales, and disintermediation have been determined as strategies affecting supply chain resilience of machine-made rugs' industry during an economic depression.

Keywords: distribution, economic depression, machine-made rug, outsourcing, production, sourcing, supply chain, supply chain resilience

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Authors: Zhipeng Chen, Peng Zhang, Qingyun Liu, Li Guo

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With the Internet becoming the dominant channel for business and life, many IPs are increasingly masked using web proxies for illegal purposes such as propagating malware, impersonate phishing pages to steal sensitive data or redirect victims to other malicious targets. Moreover, as Internet traffic continues to grow in size and complexity, it has become an increasingly challenging task to detect the proxy service due to their dynamic update and high anonymity. In this paper, we present an approach based on behavioral graph analysis to study the behavior similarity of web proxy users. Specifically, we use bipartite graphs to model host communications from network traffic and build one-mode projections of bipartite graphs for discovering social-behavior similarity of web proxy users. Based on the similarity matrices of end-users from the derived one-mode projection graphs, we apply a simple yet effective spectral clustering algorithm to discover the inherent web proxy users behavior clusters. The web proxy URL may vary from time to time. Still, the inherent interest would not. So, based on the intuition, by dint of our private tools implemented by WebDriver, we examine whether the top URLs visited by the web proxy users are web proxies. Our experiment results based on real datasets show that the behavior clusters not only reduce the number of URLs analysis but also provide an effective way to detect the web proxies, especially for the unknown web proxies.

Keywords: bipartite graph, one-mode projection, clustering, web proxy detection

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Authors: Omolola Ojetayo, Emmanuel Garuba, Obinna Ajunwa, Abiodun A. Onilude

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Introduction: Biofilm is a functional community of microorganisms that are associated with a surface or an interface. These adherent cells become embedded within an extracellular matrix composed of polymeric substances, i.e., biofilms refer to biological deposits consisting of both microbes and their extracellular products on biotic and abiotic surfaces. Despite their detrimental effects in medicine, biofilms as natural cell immobilization have found several applications in biotechnology, such as in the treatment of wastewater, bioremediation and biodegradation, desulfurization of gas, and conversion of agro-derived materials into alcohols and organic acids. The means of enhancing immobilized cells have been chemical-inductive, and this affects the medium composition and final product. Physical factors including electrical, magnetic, and electromagnetic flux have shown potential for enhancing biofilms depending on the bacterial species, nature, and intensity of emitted signals, the duration of exposure, and substratum used. However, the concept of cell immobilisation by electrical and magnetic induction is still underexplored. Methods: To assess the effects of physical factors on biofilm formation, six American typed culture collection (Acetobacter aceti ATCC15973, Pseudomonas aeruginosa ATCC9027, Serratia marcescens ATCC14756, Gluconobacter oxydans ATCC19357, Rhodobacter sphaeroides ATCC17023, and Bacillus subtilis ATCC6633) were used. Standard culture techniques for bacterial cells were adopted. Natural autoimmobilisation potentials of test bacteria were carried out by simple biofilms ring formation on tubes, while crystal violet binding assay techniques were adopted in the characterisation of biofilm quantity. Electroinduction of bacterial cells by direct current (DC) application in cell broth, static magnetic field exposure, and electromagnetic flux were carried out, and autoimmobilisation of cells in a biofilm pattern was determined on various substrata tested, including wood, glass, steel, polyvinylchloride (PVC) and polyethylene terephthalate. Biot Savart law was used in quantifying magnetic field intensity, and statistical analyses of data obtained were carried out using the analyses of variance (ANOVA) as well as other statistical tools. Results: Biofilm formation by the selected test bacteria was enhanced by the physical factors applied. Electromagnetic induction had the greatest effect on biofilm formation, with magnetic induction producing the least effect across all substrata used. Microbial cell-cell communication could be a possible means via which physical signals affected the cells in a polarisable manner. Conclusion: The enhancement of biofilm formation by bacteria using physical factors has shown that their inherent capability as a cell immobilization method can be further optimised for industrial applications. A possible relationship between the presence of voltage-dependent channels, mechanosensitive channels, and bacterial biofilms could shed more light on this phenomenon.

Keywords: bacteria, biofilm, cell immobilization, electromagnetic induction, substrata

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Authors: Eva Laryea, Clement Yeboah Authors

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A pretest-posttest within subjects, experimental design was employed to examine the effects of a computerized basic statistics learning game on achievement and statistics-related anxiety of students enrolled in introductory graduate statistics course. Participants (N = 34) were graduate students in a variety of programs at state-funded research university in the Southeast United States. We analyzed pre-test posttest differences using paired samples t-tests for achievement and for statistics anxiety. The results of the t-test for knowledge in statistics were found to be statistically significant indicating significant mean gains for statistical knowledge as a function of the game-based intervention. Likewise, the results of the t-test for statistics-related anxiety were also statistically significant indicating a decrease in anxiety from pretest to posttest. The implications of the present study are significant for both teachers and students. For teachers, using computer games developed by the researchers can help to create a more dynamic and engaging classroom environment, as well as improve student learning outcomes. For students, playing these educational games can help to develop important skills such as problem solving, critical thinking, and collaboration. Students can develop interest in the subject matter and spend quality time to learn the course as they play the game without knowing that they are even learning the presupposed hard course. The future directions of the present study are promising, as technology continues to advance and become more widely available. Some potential future developments include the integration of virtual and augmented reality into educational games, the use of machine learning and artificial intelligence to create personalized learning experiences, and the development of new and innovative game-based assessment tools. It is also important to consider the ethical implications of computer game-based pedagogy, such as the potential for games to perpetuate harmful stereotypes and biases. As the field continues to evolve, it will be crucial to address these issues and work towards creating inclusive and equitable learning experiences for all students. This study has the potential to revolutionize the way basic statistics graduate students learn and offers exciting opportunities for future development and research. It is an important area of inquiry for educators, researchers, and policymakers, and will continue to be a dynamic and rapidly evolving field for years to come.

Keywords: pretest-posttest within subjects, experimental design, achievement, statistics-related anxiety

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Authors: G. S. Androulakis, G. Deli, M. Kaisari, N. Mihos

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Teaching practices at the university level have changed and developed during the last decade. Implementation of inverted classroom method in secondary education consists of a well-formed basis for academic teachers. On the other hand, distance learning is a well-known field in education research and widespread as a method of teaching. Nonetheless, the new pandemic found many Universities all over the world unprepared, which made adaptations to new methods of teaching a necessity. In this paper, we analyze a model of an inverted university classroom in a distance learning context. Thus, the main purpose of our research is to investigate students’ difficulties as they transit to a new style of teaching and explore their learning development during a semester totally different from others. Our teaching experiment took place at the Business Administration department of the University of Patras, in the context of two courses: Calculus, a course aimed at first-year students, and Statistics, a course aimed at second-year students. Second-year students had the opportunity to attend courses in the university classroom. First-year students started their semester with distance learning. Using a comparative study of these two groups, we explored significant differences in students’ learning procedures. Focused group interviews, written tests, analyses of students’ dialogues were used in a mixed quantity and quality research. Our analysis reveals students’ skills, capabilities but also a difficulty in following, non-traditional style of teaching. The inverted classroom model, according to our findings, offers benefits in the educational procedure, even in a distance learning environment.

Keywords: distance learning, higher education, inverted classroom, mathematics teaching

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Authors: G. M. Vlasceanu, H. Iovu, E. Vasile, M. Ionita

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Herein, the synthesis and characterization of chitosan-gelatin highly porous scaffold reinforced with graphene oxide, and hydroxyapatite (HAp), crosslinked with genipin was targeted. In tissue engineering, chitosan and gelatin are two of the most robust biopolymers with wide applicability due to intrinsic biocompatibility, biodegradability, low antigenicity properties, affordability, and ease of processing. HAp, per its exceptional activity in tuning cell-matrix interactions, is acknowledged for its capability of sustaining cellular proliferation by promoting bone-like native micro-media for cell adjustment. Genipin is regarded as a top class cross-linker, while graphene oxide (GO) is viewed as one of the most performant and versatile fillers. The composites with natural bone HAp/biopolymer ratio were obtained by cascading sonochemical treatments, followed by uncomplicated casting methods and by freeze-drying. Their structure was characterized by Fourier Transform Infrared Spectroscopy and X-ray Diffraction, while overall morphology was investigated by Scanning Electron Microscopy (SEM) and micro-Computer Tomography (µ-CT). Ensuing that, in vitro enzyme degradation was performed to detect the most promising compositions for the development of in vivo assays. Suitable GO dispersion was ascertained within the biopolymer mix as nanolayers specific signals lack in both FTIR and XRD spectra, and the specific spectral features of the polymers persisted with GO load enhancement. Overall, correlations between the GO induced material structuration, crystallinity variations, and chemical interaction of the compounds can be correlated with the physical features and bioactivity of each composite formulation. Moreover, the HAp distribution within follows an auspicious density gradient tuned for hybrid osseous/cartilage matter architectures, which were mirrored in the mice model tests. Hence, the synthesis route of a natural polymer blend/hydroxyapatite-graphene oxide composite material is anticipated to emerge as influential formulation in bone tissue engineering. Acknowledgement: This work was supported by the project 'Work-based learning systems using entrepreneurship grants for doctoral and post-doctoral students' (Sisteme de invatare bazate pe munca prin burse antreprenor pentru doctoranzi si postdoctoranzi) - SIMBA, SMIS code 124705 and by a grant of the National Authority for Scientific Research and Innovation, Operational Program Competitiveness Axis 1 - Section E, Program co-financed from European Regional Development Fund 'Investments for your future' under the project number 154/25.11.2016, P_37_221/2015. The nano-CT experiments were possible due to European Regional Development Fund through Competitiveness Operational Program 2014-2020, Priority axis 1, ID P_36_611, MySMIS code 107066, INOVABIOMED.

Keywords: biopolymer blend, ectopic osteoinduction, graphene oxide composite, hydroxyapatite

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Authors: Rasha Ali Dheyab, Edurad Vlad

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Migration is associated with other important global issues, including development, poverty, and human rights. Migrants are often the most dynamic members of society; historically, migration has supported economic development and the rise of nations and enriched cultures. It also presents significant challenges. The word ‘racism’ is not just about beliefs or statements; it also contains the ability to force those beliefs or world views as hegemonic and as a basis for the refusal of rights or equality. For this reason, racism is embedded in power relations of different types. Racism is not only an awareness of distinction and groups, but it also has extremely practical roles in maintaining: First, inequitable social power arrangements; and second, racist behavioral manifestations such as verbal rejection, avoidance, discrimination, physical attack, and elimination. The focus is on aspects of racism in the media to deal with the migration phenomenon. The reproduction and promotion of racism by certain areas of the media is not a simple and straightforward process. It is important to see how the media serves in the reproduction of racism. This article shows attitudes to migration as they have appeared in British periodicals over the last few years. One might conclude that the reproduction of racism by the media is not a simple and straightforward process. It has become obvious that the role of the media in the reproduction of racism is inextricably linked to the general characteristics of racism and white domination in society, particularly the structural and ideological structuring of that kind of group power. This highlights the press's function as a business, social, and cultural institution. The press has to be examined in connection to the institutions of the economic and political as well.

Keywords: British periodicals, culture studies, migration, racism

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Authors: Andreas Kerstan, Darren Robey, Wesam Alvan, David Troiani

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Over the last 3.5 years, Quantum Cascade Lasers (QCL) technology has become increasingly important in infrared (IR) microscopy. The advantages over fourier transform infrared (FTIR) are that large areas of a few square centimeters can be measured in minutes and that the light intensive QCL makes it possible to obtain spectra with excellent S/N, even with just one scan. A firmly established solution of the laser direct infrared imaging (LDIR) 8700 is the analysis of microplastics. The presence of microplastics in the environment, drinking water, and food chains is gaining significant public interest. To study their presence, rapid and reliable characterization of microplastic particles is essential. Significant technical hurdles in microplastic analysis stem from the sheer number of particles to be analyzed in each sample. Total particle counts of several thousand are common in environmental samples, while well-treated bottled drinking water may contain relatively few. While visual microscopy has been used extensively, it is prone to operator error and bias and is limited to particles larger than 300 µm. As a result, vibrational spectroscopic techniques such as Raman and FTIR microscopy have become more popular, however, they are time-consuming. There is a demand for rapid and highly automated techniques to measure particle count size and provide high-quality polymer identification. Analysis directly on the filter that often forms the last stage in sample preparation is highly desirable as, by removing a sample preparation step it can both improve laboratory efficiency and decrease opportunities for error. Recent advances in infrared micro-spectroscopy combining a QCL with scanning optics have created a new paradigm, LDIR. It offers improved speed of analysis as well as high levels of automation. Its mode of operation, however, requires an IR reflective background, and this has, to date, limited the ability to perform direct “on-filter” analysis. This study explores the potential to combine the filter with an infrared reflective surface filter. By combining an IR reflective material or coating on a filter membrane with advanced image analysis and detection algorithms, it is demonstrated that such filters can indeed be used in this way. Vibrational spectroscopic techniques play a vital role in the investigation and understanding of microplastics in the environment and food chain. While vibrational spectroscopy is widely deployed, improvements and novel innovations in these techniques that can increase the speed of analysis and ease of use can provide pathways to higher testing rates and, hence, improved understanding of the impacts of microplastics in the environment. Due to its capability to measure large areas in minutes, its speed, degree of automation and excellent S/N, the LDIR could also implemented for various other samples like food adulteration, coatings, laminates, fabrics, textiles and tissues. This presentation will highlight a few of them and focus on the benefits of the LDIR vs classical techniques.

Keywords: QCL, automation, microplastics, tissues, infrared, speed

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