Search results for: corporate values

Authors: Sultanbayeva Gulmira Serikbayevna, Golovchun Aleftina Anatolyevna

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The development of any nation is directly related to the development of human capital in it. A human development is an increase its intellectual potential, its compliance with the requirements of time, present and future society. Demands of globalization cannot limit the processes of national traditions. The education system must be formed on the basis of international practice of cultural development. In Kazakhstan, where modernization changes are rapidly developing, the education system should be formed in two ways: first, on a national basis, and secondly, based on global best practices. There is the need to recognize and promote the importance of education as a value. The world community considers the problem of spiritual values. Along with individual values, spiritual values are also universal values. Formation of values such as the presence in young people a sense of respect for their homeland, social responsibility, respect the culture and traditions of its people is the most important task than the possession of material goods. When forming the intellectual nation, values in the field of education and science become investments for the development of the society, as well as education and science today transformed into the most important capital.

Keywords: human capital, humanitarian technology, intangible assets, intelligent nation, society of knowledge

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Authors: Stellina Jolly

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July 18th to August 19th 2013 has gone down in the history of India for undertaking the country’s first environment referendum. The Supreme Court had ruled that the Vedanta Group's bauxite mining project in the Niyamgiri Hills of Orissa will have to get clearance from the gram sabha, which will consider the cultural and religious rights of the tribals and forest dwellers living in Rayagada and Kalahandi districts. In the Niyamgiri hills, people of small tribal hamlets were asked to voice their opinion on bauxite mining in their habitat. The ministry has reiterated its stand that mining cannot be allowed on the Niyamgiri hills because it will affect the rights of the Dongria Kondhs. The tribal person who occupies the Niyamgiri Hills in Eastern India accomplished their first success in 2010 in their struggle to protect and preserve their existence, culture and land against Vedanta a London-based mining giant. In August, 2010 Government of India revoked permission for Vedanta Resources to mine bauxite from hills in Orissa State where the Dongria Kondh live as forest dwellers. This came after various protests and reports including amnesty report wherein it highlighted that an alumina refinery in eastern India operated by a subsidiary of mining company. Vedanta was accused of causing air and water pollution that threatens the health of local people and their access to water. The abuse of human rights by corporate is not a new issue it has occurred in Africa, Asia and other parts of the world. Paper focuses on the instances and extent of human right especially in terms of environment violations by corporations. Further Paper details on corporations and sustainable development. Paper finally comes up with certain recommendation including call for a declaration by United Nations on Corporate environment Human Rights Liability.

Keywords: environment, corporate, human rights, sustainable development

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Authors: Hatice Karakoyun, Mustafa Akdag

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This study has been made to examine the attitudes of pre-school teachers towards values education. The study has been made as a general scanning model. The study’s working group contains 108 pre-school teachers who worked in Diyarbakır, Turkey. In this study Values Education Attitude Scale (VEAS), which developed by Yaşaroğlu (2014), was used. In order to analyze the data for sociodemographic structure, percentage and frequency values were examined. The Kolmogorov-Smirnov method was used in determination of the normal distribution of data. During analyzing the data, KolmogorovSimirnov test and the normal curved histograms were examined to determine which statistical analyzes would be applied on the scale and it was found that the distribution was not normal. Thus, the Mann Whitney U analysis technique which is one of the nonparametric statistical analysis techniques were used to test the difference of the scores obtained from the scale in terms of independent variables. According to the analyses, it seems that pre-school teachers’ attitudes toward values education are positive. According to the scale with the highest average, it points out that pre-school teachers think that values education is very important for students’ and children’s future. The variables included in the scale (gender, seniority, age group, education, school type, school place) seem to have no effect on the pre-school teachers’ attitude grades which joined to the study.

Keywords: attitude scale, pedagogy, pre-school teacher, values education

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Authors: An-an Chiu, Shaio Yan Huang, Ling-Na Chen, Wei-Hua Lin

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Research has primarily focused on listed companies, less is done regarding small and medium-sized enterprises. Under the authorities' support, Taipei Exchange (TPEx) started Go Incubation Board for Startup and Acceleration Firms (GISA) in January 2014. This platform is designed to help small-sized innovative companies grow and to enter the capital market in the future. This research yield insight into earnings management activities around seasoned equity offerings (SEO) based on Taiwan’s GISA firms and the effectiveness of external corporate governance. Data for the study come from the GISA Market Observation Post System from January 2014 to December 2016. The result finds that GISA firms prone to upward accrual-based earnings management during SEO to avoid long-term negative consequences. Especially, firms with paid-in capital more than NT$ 30 million, higher fundraising amounts, or smaller-sized firms, tend to increase discretionary accruals. Finally, consistent with prior literature, CPA firms effectively serve as the role of external corporate governances on mitigating earnings management.

Keywords: GISA, earnings　management, CPA, seasoned equity offerings

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Authors: Kristine Tuliao

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Although it is of primary concern to ensure that supervisors behave appropriately, research shows that unethical behaviors are prevalent and may cost organizations’ economic and reputational damages. Nevertheless, few studies have considered the roles of the different levels of values in shaping one’s ethicality, and the examination of the possible mediation in the process of their influence has been rarely done. To address this gap, this research employs Merton’s anomie theory in designing a mediation analysis to test the direct impacts of national cultural values on supervisors’ justification of unethical behaviors as well as their indirect impacts through personal values. According to Merton’s writings, individual behaviors are affected by the society’s culture given its role in defining the members’ goals as well as the acceptable methods of attaining those goals. Also, Merton’s framework suggests that individuals develop their personal values depending on the assimilation of their society’s culture. Using data of 9,813 supervisors across 30 countries, results of hierarchical linear modeling (HLM) indicated that national cultural values, specifically assertiveness, performance orientation, in-group collectivism, and humane orientation, positively affect supervisors’ unethical inclination. Some cultural values may encourage unethical tendencies, especially if they urge and pressure individuals to attain purely monetary success. In addition, some of the influence of national cultural values went through personal monetary and non-monetary success values, indicating partial mediation. These findings substantiated the assertions of Merton’s anomie theory that national cultural values influence supervisors’ ethics through their integration with personal values. Given that some of the results contradict Merton’s anomie theory propositions, complementary arguments, such as incomplete assimilation of culture, and the probable impact of job position in perceptions, values, and behaviors, could be the plausible rationale for these outcomes. Consequently, this paper advances the understanding of differences in national and personal values and how these factors impact supervisors’ justification of unethical behaviors. Alongside these contributions, suggestions are presented for the public and organizations to craft policies and procedures that will minimize the tendency of supervisors to commit unethical acts.

Keywords: mediation model, national culture, personal values, supervisors' ethics

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Authors: Karolina Pietras, Joanna Fryt, Aleksandra Gronostaj, Tomasz Smolen

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Young women and men differ from their parents in preferred values. Those differences enable their adaptability to a new socio-cultural context and help with fulfilling developmental tasks specific to young adulthood. At the same time core values, with special importance to family members, are transmitted within families. Intergenerational similarities in values may thus be both an effect of value transmission within a family and a consequence of sharing the same socio-cultural context. These processes are difficult to separate. In our study we assessed similarities and differences in values within four intergenerational family dyads (mothers-daughters, fathers-daughters, mothers-sons, fathers-sons). Sixty Polish young adults (30 women and 30 men aged 19-25) along with their parents (a total of 180 participants) completed the Schwartz’ Portrait Value Questionnaire (PVQ-21). To determine which values may be transmitted within families, we used a correlation analysis and pseudo dyad analysis that allows for the estimation of a baseline likeness between all tested subjects and consequently makes it possible to determine if similarities between actual family members are greater than chance. We also assessed whether different strategies of measuring similarity between family members render different results, and checked whether resemblances in family dyads are influenced by child’s and parent’s gender. Reported similarities were interpreted in light of the evolutionary and the value salience perspective.

Keywords: intergenerational differences in values, gender differences, pseudo dyad analysis, transmission of values

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Authors: A. T. Muruviwa

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To-date, the discourse on corporate social responsibility (CSR) has primarily centred on the actions and inactions of corporations; hence, the dominant focus on CSR has been on impacts and outcomes. The obscuring effect of this approach has, arguably, resulted in the emergence of what may be termed a ‘Northern’ agenda on CSR theory and practice, in contrast to an emergency ‘Southern’ discourse, which appears to highlight the crucial issues of poverty reduction, infrastructure development and the broader questions of social provisioning and community empowerment. Some scholars have explicitly called for a CSR research agenda that focuses on the 'reciprocal duties' of the stakeholders in the CSR process rather than fixate on the actions and inactions of business. It is against the backdrop of these contestations that this study assesses the reciprocal relationships amongst CSR stakeholders in a Zimbabwean platinum mining town, with a view to demonstrating how such relationships – and the expectations and obligations embedded in them – impact on the success or failure of CSR initiatives. The existence of mutual relations between the corporation and its stakeholders signifies the successes of CSR processes and hence the outcomes. The company is Zimplats Mining Company; the community is Mhondoro-Ngezi, and the stakeholders are clearly identified in the study. The study utilised a triangulated design, with data collected using a mini survey, focus groups, in-depth interview and observation. The key findings are that the CSR process in the study community is dominated by the mining company. Despite the existence of a CSR framework that recognises government, local leaders and community members as legitimate stakeholders, there is little evidence of concrete contributions made by these stakeholders towards the realisation of CSR objectives. As a result, the community development process – in so far as CSR is concerned – fails to address the developmental concerns of the various stakeholders. On the basis of these findings, the study concludes that there is a crisis of reciprocity in the CSR process in Mhondoro-Ngezi, and that a situation where the conceptualisation of local development needs and the deployment of specific development tools seems to be driven by one stakeholder almost to the exclusion of all others, can only present contradictory development outcomes. The significance of this study is that it allows for the development of a more nuanced and robust CSR discourse. Rather than focusing on the corporate and stakeholder perspectives and outcomes of CSR initiatives, this study examines the CSR- development nexus by interrogating the idea of reciprocal responsibility as a sin qua non to CSR success. This analytical strategy and focus allow the researcher to gain a clear understanding of how stakeholder relationships and duties influence CSR processes and also the overall outcome. At a more practical level, the findings of the study should help to shape the policy on corporate community relationships with a view to enhancing the role of mining in development.

Keywords: community development, processes, reciprocity, stakeholders

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Authors: Muhammad Shoaib

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Every society has a set of beliefs, norms, values, folkways, mores and laws. All the principles, customs, traditions and procedures of societies are directly or indirectly related to the religion of the society and changed with the passage of time by the mediation of democratic values attitudes and mass media influence. The main objective of the present study is to examine the effects of rational thinking values on forgiveness attitude by the mediation of democratic values and mass media attitude among family members. As many other developing settings, Pakistani society is undergoing a rapid and multifaceted social change, in which traditional thinking coexists and often clashes with modern thinking. Rational thinking attitude has great effects on the forgiveness attitude among family members as well as all the members of Pakistani society. For the present study 520 respondents were sampled from two urban areas of Punjab province; Lahore and Faisalabad, through proportionate random sampling technique. A survey method was used as a technique of data collection and an interview schedule was administered to collect information from the respondents. The results support that the net of other factors, favorable democratic values attitudes are positively associated rational thinking attitudes. The results also provide support that all other things equal, mass media attitudes also have a significant positive effect on rational thinking attitudes. Favorable democratic values attitudes have a significant net positive effect and the effect of mass media attitudes is positive and statistically highly significant. It shows that the effects of both democratic values attitudes and mass media attitudes diminish in magnitude when the rational thinking attitudes scale is included. However, the effect of democratic values remains highly significant. In comparison, the effect of mass media attitudes is only marginally significant.

Keywords: rationality, forgiveness, democratic values, mass media, attitudes, Pakistan

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Authors: Baikunthanath Sahoo, Santosh Kumar Sahu, Krishna Malakar

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With the essence of global environmental sustainability and green business management, the wind of business research moved towards Corporate Social Responsibility. In addition to international and national treaties, businesses have also started realising environmental protection and energy efficiency through CSR as part of business strategy in response to climate change. Considering the ambitious emission reduction target and rapid economic development of India, this study is an attempt to explore the effect of CSR on the energy efficiency management of manufacturing firms in India. By using firm-level data, the panel fixed effect model shows that the CSR dummy variable is negatively influencing the energy intensity or technically, they are energy efficient. The result demonstrates that in the presence of CSR, all the production economic variables are significant. The result also shows that doing environmental expenditure does not improve energy efficiency might be because very few firms are motivated to do such expenditure and also not common to all sectors. The interactive effect model result conforms that without considering CSR dummy as an intervening variable only Manufacturers of Chemical and Chemical products, Manufacturers of Pharmaceutical, medical chemical, and botanical products firms energy intensity low but after considering CSR in their business practices all six sub-sector firms become energy efficient. The empirical result also validate that firms are continuously engaged in CSR activities they are highly energy efficient. It is an important motivational factor for firms to become economically and environmentally sustainable in the corporate world. This analysis would help business practitioners to know how to manage today’s profitability and tomorrow’s sustainability to achieve a comparative advantage in the emerging market economy. The paper concludes that reducing energy consumption as part of their social responsibility to care for the environment, will need collaborative efforts of business society and policy bodies.

Keywords: CSR, Energy Efficiency, Indian manufacturing Sector, Business strategy

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Authors: Lalla Nezha Lakmiti, Abdelkahar Zahid

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Due to the setbacks on the international scene and the wave of cacophonic financial scandals affecting large international groups, the new Islamic finance industry is not immune despite its initial resistance. The purpose of this paper is to understand and analyze the meaning of the Corporate Governance (CG) concept in Moroccan Islamic banking systems with specific reference to their institutions. The research objective is to identify also the path taken and adopted by these banks recently set up in Morocco. The foundation is rooted in shari'a, in particular, no stakeholder (the shareholding approach) must be harmed, and the ethical value is reflected into these parties’ behavior. We chose a qualitative method, semi-structured interviews where six managers provided answers about their banking systems. Since these respondents held a senior position (directors) within their organizations, it is felt that they are well placed and have the necessary knowledge to provide us with information to answer the questions asked. The results identified the orientation of participating banks and assessing how governance works, while determining which party is fovoured: shareholders, stakeholders or both. This study discusses the favorable condition to the harmonization of the regulations and therefore a better integration between Islamic finance and conventional ones in the economic context of Morocco.

Keywords: corporate governance, Islamic Banks, stakeholders, shareholders

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Authors: Rami Qaoud, Alkama Djamal

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When we ask about the impact of rising architectural façade in improving the terms physical urban ambiance inside the free space for urban fabric. Considered as bringing back life and culture values and civilization to these cities. And This will be the theme of this search. Where we have conducted the study about the relationship that connects the empty and full of in the urban fabric in terms of the density construction and the architectural elevation of its façade to street view. In this framework, we adopted in the methodology of this research the technical field experience. And according to three types of Street engineering(H≥2W, H=W, H≤0.5W). Where we conducted a field to raise the values of the physical ambiance according to three main axes of ambiance. The first axe 1 - Thermal ambiance. Where the temperature values were collected, relative humidity, wind speed, temperature of surfaces (the outer wall-ground). The second axe 2- Visual ambiance. Where we took the values of natural lighting levels during the daytime. The third axe 3- Acoustic ambiance . Where we take sound values during the entire day. That experience, which lasted for three consecutive days, and through six stations of measuring, where it has been one measuring station for each type of the street engineering and in two different way street. Through the obtained results and with the comparison of those values. We noticed the difference between this values and the three type of street engineering. Where the difference the calorific values of air equal 4 ° C , in terms of the visual ambiance the difference in the direct lighting natural periods amounted six hours between the three types of street engineering. As well in terms of sound ambience, registered a difference in values of up 15 (db) between the three types. This difference in values indicates The impact of rising architectural façade in improving the physical urban ambiance within the free field - street- for urban fabric.

Keywords: street, physical urban ambience, rising architectural façade, urban fabric

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Authors: Hala Alioua, Alberic Tellier

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This paper is designed to spotlight the research on corporate strategic planning, by emphasizing the role of middle manager of SBU’s and related issues such as the context of vision change. Previous research on strategic vision has been focused principally at the SME, with relatively limited consideration given to the role of middle managers SBU’s in the context of change. This project of research has been done by using a single case study. We formulated through our immersion for 2.5 years on the ground and by a qualitative method and abduction approach. This entity that we analyze is a subsidiary of multinational companies headquartered in Germany, specialized in manufacturing automotive equipment. The "Delta Company" is a French manufacturing plant that has undergone numerous changes over the past three years. The two major strategic changes that have a significant impact on the Delta plant are the strengths of its core business through « lead plant strategy» in 2011 and the implementation of a new strategic vision in 2014. These consecutive changes impact the purpose of the mission of the middle managers. The plant managers ask the following questions: How the middle managers make sense of the corporate strategic planning imposed by the parent company? How they appropriate the new vision and decline it into actions on the ground? We chose the individual interview technique through open-ended questions as the source of data collection. We first of all carried out an exploratory approach by interviewing 8 members of the Management committee’s decision and 19 heads of services. The first findings and results show that exist a divergence of opinion and interpretations of the corporate strategic planning among organization members and there are difficulties to make sense and interpretations of the signals of the environment. The lead plant strategy enables new projects which insure the workload of Delta Company. Nevertheless, it creates a tension and stress among the middle managers because its provoke lack of resources to the detriment of their main jobs as manufacturer plant. The middle managers does not have a clear vision and they are wondering if the new strategic vision means more autonomy and less support from the group.

Keywords: change, middle managers, vision, sensemaking

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Authors: Chiung-Yao Huang, Yu-Cheng Lin, Chiung-Hui Chen

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This study seeks to examine perceived environmental corporate social responsibility (ECSR) with a focus on negative environmental questions, related to intention of ethical investment intention after a environmental failure recovery. An empirical test was employed to test the hypotheses. We manipulated the information on negative ECSR activities of a hypothetical firm in a experimental design with a failure recovery treatment. The company’s negative ECSR recovery was depicted in a positive perspective (depicting a follow-up strong social action), whereas in the negative ECSR treatment it was described in a negative perspective (depicting a follow-up non social action). In both treatments, information about other key characteristics of the focal company were kept constant. Investors’ intentions to invest in the company’s stock were evaluated by multi-item scales. Results indicate that positive ECSR recovery information about a firm enhances investors’ intentions to invest in the company’s stock. In addition, perceived moral intensity has a significant impact on the intention of ethical investment and that perceived moral intensity also serves as a key moderating variable in the relationship between negative ECSR and the intention of ethical investment. Finally, theoretical and managerial implications of the findings are discussed. Practical implications: The results suggest that managers may need to be aware of perceived moral intensity as a key variable in restoring the intention of ethical investment. The results further suggest that perceived moral intensity has a direct, and it also has an moderating influence between ECSR and the intention of ethical investment. Originality/value: In an attempt to deepen the understanding of how investors perceptions of firm environmental CSR are connected with other investor‐related outcomes through ECSR recovery, the present research proposes a comprehensive model which encompasses ECSR and other key relationship constructs after a ECSR failure and recovery.

Keywords: ethical investment, Environmental Corporate Social Responsibility(ECSR), ECSR recovery, moral intensity

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Authors: Abdullah M. Alzahrani

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The karyotypes of Khalas (KH), Sukkary (SK), Sheeshi (SS), Shibeebi (SB) and Sillije (SJ) date palm cultivars were investigated. Data showed no variation in chromosome number, 2n = 36, 34 autosomes in addition to XX in females and XY in males. Mean autosomes length ranged from 3.85-9.93 μm and 3.71-2.73 μm for X and Y chromosomes, respectively. The formula of female date palm karyotype was 8m + 4sm +2st + 4t, and submedian Y chromosome. Relative chromosome length ranged from 3.3- 9.38 μm. SS cultivar showed high asymmetry levels by scoring low values of Syi (45.51), TF (42.8) and high values for A1 (0.53), A (0.41) and AI (0.29). Syi developed an inverse relation with A1 and A while A exhibited a direct correlation with A1. Cultivars SK, SB and SJ score medium values of Syi, A1, AI and A. KH cultivar exhibited high symmetry by scoring highest values of Syi (53.68), TF (51.81) and lowest values of A1 (0.44), A (0.34) and AI (0.18). Higher DI value was obtained in SB cultivar (1.34) followed by SJ (1.15) and low DI scores of 0.99, 0.86 and 0.71 were detected in KH, SS and SK, respectively. Stebbins classification assorted SS as 3B and the other cultivars as 2B, insuring the evolution and asymmetry of SS compared to the other karyotypes. Scatter diagram of Syi-A1 couple has the advantage of revealing high degree of sensitivity to present karyotype interrelationships, followed by AI-A and CVCL-CVCI couples.

Keywords: Karyotype, date palm, Khalas, Sukkary, Sheeshi

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Authors: Muhammad Danladi, Muhammad Bura Garba, Muhammad Yahaya, Dahiru Muhammad

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Biomass is one of the primary sources of energy supply, which contributes to about 78% of Nigeria. In this work, a comparative analysis of the heating values of sawdust and rice husks in the thermal generation of electricity was carried out. In the study, different masses of biomass were used and the corresponding electromotive force in millivolts was obtained. A graph of e.m.f was plotted against the mass of each biomass and a gradient was obtained. Bar graphs were plotted to represent the values of e.m.f and masses of the biomass. Also, a graph of e.m.f against eating values of sawdust and rice husks was plotted, and in each case, as the e.m.f increases also, the heating values increases. The result shows that saw dust with 0.033Mv/g gradient and 3.5 points of intercept had the highest gradient, followed by rice husks with 0.026Mv/g gradient and 2.6 points of intercept. It is, therefore, concluded that sawdust is the most efficient of the two types of biomass in the thermal generation of electricity.

Keywords: biomass, electricity, thermal, generation

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Authors: Mikhail V. Khachaturyan, Inga A. Koryagina, Eugenia V. Klicheva

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In modern conditions, scientific judgment of problems in developing mechanisms of value creation and risk management acquires special relevance. Formation of economic knowledge has resulted in the constant analysis of consumer behavior for all players from national and world markets. Effective mechanisms development of the demand analysis, crucial for consumer's characteristics of future production, and the risks connected with the development of this production are the main objectives of control systems in modern conditions. The modern period of economic development is characterized by a high level of globalization of business and rigidity of competition. At the same time, the considerable share of new products and services costs has a non-material intellectual nature. The most successful in Russia is the contemporary development of small innovative firms. Such firms, through their unique technologies and new approaches to process management, which form the basis of their intellectual capital, can show flexibility and succeed in the market. As a rule, such enterprises should have very variable structure excluding the tough scheme of submission and demanding essentially new incentives for inclusion of personnel in innovative activity. Realization of similar structures, as well as a new approach to management, can be constructed based on value-oriented management which is directed to gradual change of consciousness of personnel and formation from groups of adherents included in the solution of the general innovative tasks. At the same time, valuable changes can gradually capture not only innovative firm staff, but also the structure of its corporate partners. Introduction of new technologies is the significant factor contributing to the development of new valuable imperatives and acceleration of the changing values systems of the organization. It relates to the fact that new technologies change the internal environment of the organization in a way that the old system of values becomes inefficient in new conditions. Introduction of new technologies often demands change in the structure of employee’s interaction and training in their new principles of work. During the introduction of new technologies and the accompanying change in the value system, the structure of the management of the values of the organization is changing. This is due to the need to attract more staff to justify and consolidate the new value system and bring their view into the motivational potential of the new value system of the organization.

Keywords: value, risk, creation, problems, organization

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Authors: Sayed Kifayat Shah, Tang Zhongjun, Mohammad Ahmad, Sohaib Mostafa

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This article investigates consumer’s intention to shift to 5G in the light of disruptive technology innovation. To switch from 4G (Existing) technology to 5G (Disruptive) technology requires not just economic benefits and costs but involves other values too, which aren't yet experienced in the framework of technology innovation. This study extended the valued adaptation (VAM) model by proposing the sustainability values (SVs) construct. The model was examined on data from 361 Chinese consumers using the partial least squares-based structural equation modelling (PLS-SEM) technique. The outcomes prove the significant correlation of sustainability values (SVs) which influences consumer’s switching intentions toward 5G disruptive technology. The findings of this research will be helpful to telecoms firms in developing consumer retention strategies. Some limitations and the importance of the research for scholars and managers are also discussed.

Keywords: value adaptation model (VAM), sustainability values (SVs), disruptive 5G technology, switching intentions (SI), partial least squares-based structural equation modelling (PLS-SEM)

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Authors: Jyoti Bharti, Navneet Manjhi, M. K.Gupta, Bimi Jain

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A reliable gait features are required to extract the gait sequences from an images. In this paper suggested a simple method for gait identification which is based on moments. Moment values are extracted on different number of frames of gray scale and silhouette images of CASIA database. These moment values are considered as feature values. Fuzzy logic and nearest neighbour classifier are used for classification. Both achieved higher recognition.

Keywords: gait, fuzzy logic, nearest neighbour, recognition rate, moments

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Authors: Audia Syafa'atur Rahman, Rozali Haron

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The practices of Islamic banking are more attuned to the goals of profit maximization rather than obtaining ethical profit. Ethical profit is obtained from interest-free earnings and to give an impact which benefits to the growth of society and economy. Good corporate governance practices are needed to assure the sustainability of Islamic banks in order to achieve Maqasid Shariah with the main purpose of boosting the well-being of people. The Maqasid Shariah performance measurement is used to measure the duties and responsibilities expected to be performed by Islamic banks. It covers not only unification dimension like financial measurement, but also many dimensions covered to reflect the main purpose of Islamic banks. The implementation of good corporate governance is essential because it covers the interests of the stakeholders and facilitates effective monitoring to encourage Islamic banks to utilize resources more efficiently in order to achieve the Maqasid Shariah. This study aims to provide the empirical evidence on the Maqasid performance of Islamic banks in relation to the Maqasid performance evaluation model, to examine the influence of SSB characteristics and board structures to Islamic Banks performance as measured by Maqasid performance evaluation model. By employing the simple additive weighting method, Maqasid index for all the Islamic Banks in Indonesia within 2012 to 2016 ranged from above 11% to 28%. The Maqasid Syariah performance index where results reached above 20% are obtained by Islamic Banks such as Bank Muamalat Indonesia, Bank Panin Syariah, and Bank BRI Syariah. The consistent achievement above 23% is achieved by BMI. Other Islamic Banks such as Bank Victoria Syariah, Bank Jabar Banten Syariah, Bank BNI Syariah, Bank Mega Syariah, BCA Syariah, and Maybank Syariah Indonesia shows a fluctuating value of the Maqasid performance index every year. The impact of SSB characteristics and board structures are tested using random-effects generalized least square. The findings indicate that SSB characteristics (Shariah Supervisory Board size, Shariah Supervisory Board cross membership, Shariah Supervisory Board Education, and Shariah Supervisory Board reputation) and board structures (Board size and Board independence) have an essential role in improving the performance of Islamic Banks. The findings denote Shariah Supervisory Board with smaller size, higher portion of Shariah Supervisory Board cross membership; lesser Shariah Supervisory Board holds doctorate degree, lesser reputable scholar, more members on board of directors, and less independence non-executive directors will enhance the performance of Islamic Banks.

Keywords: Maqasid Shariah, corporate governance, Islamic banks, Shariah supervisory board

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Authors: Orkide Donma, Mustafa M. Donma

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Chronologic age (CA) of individuals is closely related to obesity and generally affects the magnitude of obesity parameters. On the other hand, close association between basal metabolic rate (BMR) and metabolic age (MA) is also a matter of concern. It is suggested that MA higher than CA is the indicator of the need to improve the metabolic rate. In this study, the aim was to assess some commonly used obesity parameters, such as obesity degree, visceral adiposity, BMR, BMR-to-weight ratio, in several groups with varying differences between MA and CA values. The study comprises adults, whose ages vary between 18 and 79 years. Four groups were constituted. Group 1, 2, 3 and 4 were composed of 55, 33, 76 and 47 adults, respectively. The individuals exhibiting -1, 0 and +1 for their MA-CA values were involved in Group 1, which was considered as the control group. Those, whose MA-CA values varying between -5 and -10 participated in Group 2. Those, whose MAs above their real ages were divided into two groups [Group 3 (MA-CA; from +5 to + 10) and Group 4 (MA-CA; from +11 to + 12)]. Body mass index (BMI) values were calculated. TANITA body composition monitor using bioelectrical impedance analysis technology was used to obtain values for obesity degree, visceral adiposity, BMR and BMR-to-weight ratio. The compiled data were evaluated statistically using a statistical package program; SPSS. Mean ± SD values were determined. Correlation analyses were performed. The statistical significance degree was accepted as p < 0.05. The increase in BMR was positively correlated with obesity degree. MAs and CAs of the groups were 39.9 ± 16.8 vs 39.9 ± 16.7 years for Group 1, 45.0 ± 15.3 vs 51.4 ± 15.7 years for Group 2, 47.2 ± 12.7 vs 40.0 ± 12.7 years for Group 3, and 53.6 ± 14.8 vs 42 ± 14.8 years for Group 4. BMI values of the groups were 24.3 ± 3.6 kg/m², 23.2 ± 1.7 kg/m², 30.3 ± 3.8 kg/m², and 40.1 ± 5.1 kg/m² for Group 1, 2, 3 and 4, respectively. Values obtained for BMR were 1599 ± 328 kcal in Group 1, 1463 ± 198 kcal in Group 2, 1652 ± 350 kcal in Group 3, and 1890 ± 360 kcal in Group 4. A correlation was observed between BMR and MA-CA values in Group 1. No correlation was detected in other groups. On the other hand, statistically significant correlations between MA-CA values and obesity degree, BMI as well as BMR/weight were found in Group 3 and in Group 4. It was concluded that upon consideration of these findings in terms of MA-CA values, BMR-to-weight ratio was found to be much more useful indicator of the severe increase in obesity development than BMR. Also, the lack of associations between MA and BMR as well as BMR-to-weight ratio emphasize the importance of consideration of MA-CA values rather than MA.

Keywords: basal metabolic rate, basal metabolic rate-to-weight-ratio, chronologic age, metabolic age, obesity degree

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Authors: Jonghae Park, Daesung Kim

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The impact of aggressive and conservative working capital‘s strategies on the value and profitability of the firms has been evaluated by applying the panel data regression analysis. The control variables used in the regression models are natural log of firm size, sales growth, and debt. We collected a panel of 13,988 companies listed on the Korea stock market covering the period 2000-2016. The major findings of this study are as follow: 1) We find a significant negative correlation between firm profitability and the number of days inventory (INV) and days accounts payable (AP). The firm’s profitability can also be improved by reducing the number of days of inventory and days accounts payable. 2) We also find a significant positive correlation between firm profitability and the number of days accounts receivable (AR) and cash ratios (CR). In other words, the cash is associated with high corporate profitability. 3) Tobin's analysis showed that only the number of days accounts receivable (AR) and cash ratios (CR) had a significant relationship. In conclusion, companies can increase profitability by reducing INV and increasing AP, but INV and AP did not affect corporate value. In particular, it is necessary to increase CA and decrease AR in order to increase Firm’s profitability and value.

Keywords: working capital, working capital management, firm value, profitability

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Authors: Saadia Izzeldin Malik

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Lack of ethics is the crisis of the 21-century. Today’s global world is filled with economic, political, environmental, media/communication, and social crises that all generated by the eroding fabric of ethics and moral values that guide human’s decisions in all aspects of live. Our global world is guided by liberal western democratic principles and liberal capitalist economic principles that define and reinforce each other. In economic terms, capitalism has turned world economic systems into one market place of ideas and products controlled by big multinational corporations that not only determine the conditions and terms of commodity production and commodity exchange between countries, but also transform the political economy of media systems around the globe. The citizen (read the consumer) today is the target of persuasion by all types of media at a time when her/his interests should be, ethically and in principle, the basic significant factor in the selection of media content. It is very important in this juncture of clashing media values –professional and commercial- and wide spread ethical lapses of media organizations and media professionals to think of a perspective to theorize these conflicting values within a broader framework of media ethics. Thus, the aim of this paper is to, epistemologically, bring to the center a perspective on media ethics as a basis for reconciliation of clashing values of the media. The paper focuses on conflicting ethical values in current media debate; namely ownership of media vs. press freedom, individual right for privacy vs. public right to know, and global western consumerism values vs. media values. The paper concludes that a framework to reconcile conflicting values of media ethics should focus on the “individual” journalist and his/her moral development as well as focus on maintaining ethical principles of the media as an institution with a primary social responsibility for the “public” it serves.

Keywords: ethics, media, journalism, social responsibility, conflicting values, global

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Authors: Odile Amoncou, Djedje-Kossu Zahui

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The increased demand for digital communications during the COVID-19 pandemic has seen an unprecedented surge in new telecom infrastructure around the world. The expansion has been more remarkable in countries with developing telecom infrastructures. Particularly, the three telecom operators in Cote d’Ivoire, Orange CI, MTN CI, and MOOV Africa, have considerably scaled up their exploitation technologies and capacities in terms of towers, fiber optic installation, and customer service hubs. The trend will likely continue upward while expanding the carbon footprint of the Ivorian telecom operators. Therefore, the corporate social and environmental responsibilities of these telecommunication companies can no longer be overlooked. This paper assesses the sustainability of the three Ivorian telecommunication network operators by applying a combination of commonly used sustainability management indexes. These tools are streamlined and adapted to the relatively young and developing digital network of Cote D’Ivoire. We trust that this article will push the respective CEOs to make sustainability a top strategic priority and understand the substantial potential returns in terms of saving, new products, and new clients while improving their corporate image. In addition, good sustainability management can increase their stakeholders.

Keywords: sustainability of telecom operators, sustainability management index, carbon footprint, digital communications

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Authors: Ibrahim Abdel Gadir Malik, Dafalla Siddig Dafalla, Osama Abdelgadir El-Bushra

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Geological and engineering characteristics of intact rock and the discontinuity surfaces was used to describe and classify rock mass into zones based on mechanical and physical properties. Many conditions terms that affect the rock mas; such as Rock strength, Rock Quality Designation (RQD) value, joint spacing, and condition of joint, water condition with block size, joint roughness, separation, joint hardness, friction angle and weathering were used to classify the rock mass into: Good quality (class II) (RMR values range between 75% and 56%), Good to fair quality (class II to III) (RMR values range between 70% and 55%), Fair quality (class III) (RMR values range between 60% and 50%) and Fair to poor quality (Class III to IV) (RMR values, range between (50% and 35%).

Keywords: rock strength, RQD, joints, weathering

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Authors: Laura Dumuje

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The ongoing debate in terms of corporate social responsibility (CSR) initiative in Niger Delta originates from existing gap between stated objectives of organizations in the Nigerian oil sector and the activities that threaten the economy. CSR in developing countries is becoming popular, and to contribute to scientific knowledge, we need to research on CSR practices and discourse in indigenous Nigeria that is scarce. Despite governments mandate in terms of unofficial gas blazing, methane is being released into the atmosphere which contributes to global warming. Does this practice apply to indigenous companies? In this context, we need to investigate CSR policies in local Nigeria. To get a better understanding of CSR among indigenous oil companies in Nigeria, our study focuses on discourse and rhetoric in terms of CSR, as well as growth regarding CSR. This current study contribution is twofold: on the one hand, it aims to better understand practitioner’s rationale and fundamentals of CSR in Nigerian oil companies. On the other hand, it intends to identify the stages of CSR initiatives, advantages and difficulties of CSR implementation in indigenous Nigeria oil sector. This study will use the qualitative research as methodological strategy. Instrument for data collection is semi-structured interview. Besides interview, we will conduct some focus group discussions with relevant stakeholders. Participants for this study consist of employees, managers and top level executives of indigenous oil companies in Nigeria. Key informants such as government institutions, environmental organizations and community leaders will take part of our samples. It is important to note that despite significant findings in some studies, there are still some gaps. To help filling this existing gaps, we have formulated some research questions, as follows: ‘What are the stages, opportunities and obstacles of having corporate social responsibility practice in indigenous oil companies in Nigeria?’ This ongoing research sub-questions as follows: What are the CSR discourses and practices among indigenous companies in the Nigerian oil sector? What is the actual status regarding CSR development? What are the main perceptions of opportunities and obstacles with regard to CSR in indigenous Nigerian oil companies? Who are the main stakeholders of indigenous Nigerian oil companies and their different meanings and understandings of CSR practices? Important to note regarding the above questions, the following objectives have been determined: This research conducts a literature review with the aim of uncovering, understanding and identifying importance of CSR practices in western and developing countries; It aims to identify specific characteristics of the national context in respect to CSR engagement in Nigeria; Relevant to perform empirical research with employees, managers, executives, and key informants in indigenous Nigerian oil companies in order to identify different understandings of CSR initiatives and its relevance to the society; To conclude, provide managerial recommendations regarding the adoption of CSR in Nigeria.

Keywords: corporate social responsibility, indigenous, organization, Nigeria

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Authors: Nikolaos Georgantzis, Efi Vasileiou

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We present results from experimental price-setting oligopolies in which green firms undertake different levels of energy-saving investments motivated by public subsidies and demand-side advantages. We find that consumers reveal higher willingness to pay for greener sellers’ products. This observation in conjunction to the fact that greener sellers set higher prices is compatible with the use and interpretation of energy-saving behaviour as a differentiation strategy. However, sellers do not exploit the resulting advantage through sufficiently high price-cost margins, because they seem trapped into “run to stay still” competition. Regarding the use of public subsidies to energy-saving sellers we uncover an undesirable crowding-out effect of consumers’ intrinsic tendency to support green manufacturers. Namely, consumers may be less willing to support a green seller whose energy-saving strategy entails a direct financial benefit. Finally, we disentangle two alternative motivations for consumer’s attractions to pro-social firms; first, the self-interested recognition of the firm’s contribution to the public and private welfare and, second, the need to compensate a firm for the cost entailed in each pro-social action. Our results show the prevalence of the former over the latter.

Keywords: corporate social responsibility, energy savings, public good, experiments, vertical differentiation, altruism

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Authors: Juland D. Salayo

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With numerous innovations introduced in the Philippine educational system, the country’s struggle of materializing its national goal of transforming lives ends with great loss. Many agree that the failure to emerge the integral values of the program, framework and the implementers impedes realization. Employing a descriptive-correlational method, it aimed to determine the value clusters of the Grade 9 teachers as assessed by themselves and by the students, the significant difference of the assessed values and the significant difference on the values based on their profile. Respondents were composed of sixty-nine (69) teachers and three hundred forty (340) students using simple random sampling. Through a survey-questionnaire, the study revealed that the teachers have high regards on their self-reliance, honesty and trustworthiness, obedience, politeness and respect and self-discipline and spirituality. In contrast, they have ranked the following values fairly: justice and fairness, courage, responsibility and punctuality and nationalism and patriotism. Having assessed by the students, they have highly regarded their teachers’ self-reliance, responsibility and punctuality, obedience, politeness and respect and fair play and sportsmanship. On the other hand, the student-respondents made a low assessment on the level of the teachers’ justice and fairness, nationalism and patriotism, honesty and trustworthiness and excellence. Using t-test, it showed that there is a significant difference between the assessments of the respondents. Finally, among the demographic profiles, only civil status and age rejected the hypothesis. The following were recommended: provide educators value-enhancement trainings and conferences, organize value-oriented organizations and activities, and make intensive value-campaigns heightening the low-assessed values. Thus, a Revised Values Education Program (RVEP) was made to further meet the objectives of the program, address the needs of its clienteles, and responding to the demands of both education and society towards excellence in service, social and economic revolution, and constructive national goals which are based from integral values.

Keywords: values, value clusters, values education program, values education, teachers' assessed values

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Authors: Joanna Peksa, Faith Dillon-Lee

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Current developments in the Western economies have turned some universities into corporate institutions driven by practices of production and commodity. Academia is increasingly becoming integrated into national economies as a result of students paying fees and is consequently using business practices in student retention and engagement. With these changes, pedagogy status as a priority within the institution has been changing in light of these new demands. New strategies have blurred the boundaries that separate a student from a client. This led to a change of the dynamic, disrupting the traditional idea of the knowledge market, and emphasizing the corporate aspect of universities. In some cases, where students are seen primarily as a customer, the purpose of academia is no longer to educate but sell a commodity and retain fee-paying students. This paper considers opposing viewpoints on the commodification of higher education, reflecting on the reality of maintaining a pedagogic grounding in an increasingly commercialized sector. By analysing a case study of the Student Success Festival, an event that involved academic and marketing teams, the differences are considered between the respective visions of the pedagogic arm of the university and the corporate. This study argues that the initial concept of the event, based on the principles of gamification, independent learning, and cognitive criticality, was more clearly linked to a grounded pedagogic approach. However, when liaising with the marketing team in a crucial step in the creative process, it became apparent that these principles were not considered a priority in terms of their remit. While the study acknowledges in the power of pedagogy, the findings show that a pact of concord is necessary between different stakeholders in order for students to benefit fully from their learning experience. Nevertheless, while issues of power prevail and whenever power is unevenly distributed, reaching a consensus becomes increasingly challenging and further research should closely monitor the developments in pedagogy in the UK higher education.

Keywords: economic pressure, commodification, pedagogy, gamification, public service, marketization

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Authors: Parisa Golbayani, Dan Wang, Ionut¸ Florescu

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In this work we implement machine learning techniques to financial statement reports in order to asses company’s credit rating. Specifically, the work analyzes the performance of four neural network architectures (MLP, CNN, CNN2D, LSTM) in predicting corporate credit rating as issued by Standard and Poor’s. The paper focuses on companies from the energy, financial, and healthcare sectors in the US. The goal of this analysis is to improve application of machine learning algorithms to credit assessment. To accomplish this, the study investigates three questions. First, we investigate if the algorithms perform better when using a selected subset of important features or whether better performance is obtained by allowing the algorithms to select features themselves. Second, we address the temporal aspect inherent in financial data and study whether it is important for the results obtained by a machine learning algorithm. Third, we aim to answer if one of the four particular neural network architectures considered consistently outperforms the others, and if so under which conditions. This work frames the problem as several case studies to answer these questions and analyze the results using ANOVA and multiple comparison testing procedures.

Keywords: convolutional neural network, long short term memory, multilayer perceptron, credit rating

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Authors: I. Paeglite, A. Paeglitis

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The paper presents a study of dynamic effects obtained from the dynamic load testing of the city highway bridges in Latvia carried out from 2005 to 2012. 9 pre-stressed concrete bridges and 4 composite bridges were considered. 11 of 13 bridges were designed according to the Eurocodes but two according to the previous structural codes used in Latvia (SNIP 2.05.03-84). The dynamic properties of the bridges were obtained by heavy vehicles passing the bridge roadway with different driving speeds and with or without even pavement. The obtained values of the Dynamic amplification factor (DAF) and bridge natural frequency were analyzed and compared to the values of built-in traffic load models provided in Eurocode 1. The actual DAF values for even bridge deck in the most cases are smaller than the value adopted in Eurocode 1. Vehicle speed for uneven pavements significantly influence Dynamic amplification factor values.

Keywords: bridge, dynamic effects, load testing, dynamic amplification factor

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