Search results for: financial relationship building

Authors: Zairani Zainol, Zulkiflee Daud

Abstract:

This study employed 86 respondents representing bank officers of Bank XYX (one of the full-fledged Islamic banks in Malaysia) in the northern region of Malaysia to assess the factors that constitute talent in the Islamic financial industries. To test the discriminant factors for talent among bank officers, a factor analysis was performed. The KMO, Bartlett and MSA tests were executed as the prerequisite before performing the factor analysis. The discriminant factors for talent were extracted via eigenvalues and rotated component matrixes. The results show that five factors, namely (1) self-motivation, (2) leadership, (3) teamwork, (4) interpersonal skills, and (5) creativity/innovation constitute talent in the Islamic financial industries. It is hoped that this study could offer guidelines to education providers, specifically those that conduct the Islamic finance and banking program, as to the areas of emphasis for students before graduating. For the Islamic financial institutions, this study is also vital since they could tackle the areas that need to be improved in managing their talents.

Keywords: talent, Islamic financial industries, talent development, bank’s officers

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Authors: Piotr Prewysz-Kwinto

Abstract:

A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they offer investors a possibility of making a profit that results from the change in value of the underlying instrument without having to buy it. Currently, the Warsaw Stock Exchange offers many types of ETPs. They are investment products with full or partial capital protection, products without capital protection as well as leverage products, issued on such underlying instruments as indices, sector indices, commodity indices, prices of energy commodities, precious metals, agricultural produce or prices of shares of domestic and foreign companies. This paper presents the mechanism of functioning of ETP available on the Warsaw Stock Exchange and the results of the analysis of statistical data on these financial instruments.

Keywords: exchange traded products, financial market, investment, stock exchange

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Authors: Carmen Viñas Arrebola, Antonio Rodriguez Sanchez, Sheila Varela Lujan, Mariano Gonzalez Cortina, Cesar Porras Amores

Abstract:

The research group TEMA from the School of Building (UPM) is working in the line of energy efficiency and comfort in building. The need to reduce energy consumption in the building construction implies designing new constructive systems. These systems help to reduce both consumption and energy losses in order to achieve adequate thermal comfort for people in any type of building. In existing buildings the best option is the rehabilitation focused on thermal insulation. The aim of this paper is to design, monitor and analyze the first results of thermal behavior of the ETICS system in façades. This retrofitting solution consists of adding thermal insulation on the outside of the building, helping to create a continuous envelope on the façades. The analysis is done by comparing a rehabilitated part of the building with ETICS system and another part which has not been rehabilitated, and it is taken as reference. Both of them have the same characteristics. Temperature measurements were taken with type K thermocouples according to the previous design of the monitoring and in the same period of time. The pilot building of the study is situated in Benimamet Street, in San Cristobal de Los Ángeles, in the south of Madrid. It was built in the late 50s. The 51st entrance hall, which is restored, and the 47th entrance hall, in original conditions, have been studied.

Keywords: comfort in building, energy efficiency in building, ETICS, thermal properties

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Authors: Wai Ho Darrell Kwok

Abstract:

Building entities are valuable assets of a society, however, all of them are suffered from the ravages of weather and time. Facilitating onerous maintenance activities is the only way to either maintain or enhance the value and contemporary standard of the premises. By the way, maintenance budget is always bounded by the corresponding threshold limit. In order to optimize the limited resources allocation in carrying out maintenance, there is a substantial need to prioritize maintenance work. This paper reveals the application of Fuzzy AHP in a Facilities Management Company determining the maintenance priorities on the basis of predetermined criteria, viz., Building Status (BS), Effects on Fabrics (EF), Effects on Sustainability (ES), Effects on Users (EU), Importance of Usage (IU) and Physical Condition (PC) in dealing with categorized 8 predominant building components maintenance aspects for building premises. From the case study, it is found that ‘building exterior repainting or re-tiling’, ‘spalling concrete repair works among exterior area’ and ‘lobby renovation’ are the top three maintenance priorities from facilities manager and maintenance expertise personnel. Through the application of the Fuzzy AHP for maintenance priorities decision algorithm, a more systemic and easier comparing scalar linearity factors being explored even in considering other multiple criteria decision scenarios of building maintenance issue.

Keywords: building maintenance, fuzzy AHP, maintenance priority, multi-criteria decision making

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Authors: Mengyu Lu, Yongsheng Guo

Abstract:

This study investigates how employee incentives affect employee performance in financing from customers. This study followed a grounded theory approach where data were collected through 29 interviews. Main themes and categories were identified through the coding processes. This study found that casual conditions, including financial barriers, informal finance, business location, customer base and customer relationship, influenced the adoption of customer finance in the case of SMEs. The SMEs build and maintain long-term relationships with customers through personal communications. The SMEs engage and motivate employees in customer communications and business financing strategy through financial incentives programs, including bonuses, salary rises, rewards and non-financial incentives, including training opportunities, extra holiday leave, and flexible working hours. Employee performance was measured through financing contribution and job contribution. As a consequence, customers will be well served by employees and get a better customer experience. SMEs can get benefits such as employee engagement, employee satisfaction and sustainable financing sources. This study gets in sight of employee incentives in improving employee performance in customer finance and makes implications to human capital theories. Suggestions are provided to the decision-makers in businesses as incentive programs improve employee performance that, eventually contributes to overall business performance.

Keywords: SMEs, financing from customers, employee incentives, performance-based measurement

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Authors: Wenzhe Li, Xiaoyu Ying, Grace Ding

Abstract:

Architecture plane form is an important consideration in the design of green buildings due to its significant impact on energy performance. The most effective method to consider energy performance in the early design stages is parametric modelling. This paper presents a methodology to program plane forms using MATLAB language, generating 16 kinds of plane forms by changing four designed parameters. DesignBuilder (an energy consumption simulation software) was proposed to simulate the energy consumption of the generated planes. A regression mathematical model was established to study the relationship between the plane forms and their energy consumption. The main finding of the study suggested that there was a cubic function relationship between the depth-ratio of U-shaped buildings and energy consumption, and there is also a cubic function relationship between the width-ratio and energy consumption. In the design, the depth-ratio of U-shaped buildings should not be less than 2.5, and the width-ratio should not be less than 2.

Keywords: graphic parameterization, green building design, mathematical model, plane form

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Authors: Walid Chkili

Abstract:

This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Margarida Plana

Abstract:

One of the most important energy challenge of the European policies is the transition to a Net Zero Energy Building (NZEB) model. A NZEB is a new concept of building that has the aim of reducing both the energy consumption and the carbon emissions to nearly zero of the course of a year. To achieve this nearly zero consumption, apart from being buildings with high efficiency levels, the energy consumed by the building has to be produced on-site. This paper is focused on presenting the results of the analysis developed on basis of real projects’ data in order to quantify the impact of end-users behavior. The analysis is focused on how the behavior of building’s occupants can vary the achievement of the energy savings targets and how they can be limited. The results obtained show that on this kind of project, with very high energy performance, is required to limit the end-users interaction with the system operation to be able to reach the targets fixed.

Keywords: end-users impacts, energy efficiency, energy savings, NZEB model

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Authors: Lokesh Harshe

Abstract:

The building construction sector is using 36% of global energy consumption with 39% of CO₂ emission. Professionals in the Built Environment Sector have long been aware of the industry’s contribution towards CO₂ emissions and are now moving towards more sustainable practices. As a result of this, many organizations have introduced rating systems to address the issue of global warming in the construction sector by ranking construction projects based on sustainability parameters. The pre-construction phase of any building project is the most essential time to make decisions for addressing the sustainability aspects. Traditionally, it is very difficult to collect data from different stakeholders and bring it together to form a decision based on factual data to perform sustainability analyses in the pre-construction phase. Building Information Modelling (BIM) is the solution where one single model is the result of the collaborative approach of BIM processes where all the information is shared, extracted, communicated, and stored on a single platform that everyone can access and make decisions based on real-time data. The focus of this research is on the Indian Green Rating System IGBC® with the objective of understanding IGBC® requirements and developing a framework to create the relationship between the rating processes and BIM. A Hypothetical (Architectural) model of a hostel building is developed using AutoCAD 2019 & Revit Arch. 2019, where the framework is applied to generate results on sustainability analysis using Green Building Studio (GBS) and Revit Add-ins. The results of any sustainability analysis are generated within a fraction of a minute, which is very quick in comparison with traditional sustainability analysis. This may save a considerable amount of time as well as cost. The future scope is to integrate Architectural, Structural, and MEP Models to perform accurate sustainability analyses with inputs from industry professionals working on real-life Green BIM projects.

Keywords: sustainability analyses, BIM, green rating systems, IGBC®, LEED

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Authors: Yun-na Wu, Zhen Wang

Abstract:

Due to the economic downturn and the deterioration of the living environment, the development of residential buildings as high energy consuming building is gradually changing from “extensive” to green building in China. So, the evaluation system of green building is continuously improved, but the current evaluation work has the following problems: (1) There are differences in the cost of the actual investment and the purchasing power of residents, also construction target of green residential building is single and lacks multi-objective performance development. (2) Green building evaluation lacks regional characteristics and cannot reflect the different regional residents demand. (3) In the process of determining the criteria weight, the experts’ judgment matrix is difficult to meet the requirement of consistency. Therefore, to solve those problems, questionnaires which are about the green residential building for Ningxia area are distributed, and the results of questionnaires can feedback the purchasing power of residents and the acceptance of the green building cost. Secondly, combined with the geographical features of Ningxia minority areas, the evaluation criteria system of green residential building is constructed. Finally, using the improved group AHP method and the grey clustering method, the criteria weight is determined, and a real case is evaluated, which is located in Xing Qing district, Ningxia. A conclusion can be obtained that the professional evaluation for this project and good social recognition is basically the same.

Keywords: evaluation, green residential building, grey clustering method, group AHP

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Authors: Abdul Ganiyu Iddrisu

Abstract:

Digitization is the process of transforming analog material into digital form, especially for storage and use in a computer. Significant development of information and communication technology (ICT) over the past years has encouraged many researchers to investigate its contribution to promoting economic growth, and reducing poverty. Yet compelling empirical evidence on the effects of digitization on economic growth remains weak, particularly in Africa. This is because extant studies that explicitly evaluate digitization and economic growth nexus are mostly reports and desk reviews. This points out an empirical knowledge gap in the literature. Hypothetically, digitization influences financial sector development which in turn influences economic growth. Digitization has changed the financial sector and its operating environment. Obstacles to access to financing, for instance, physical distance, minimum balance requirements, low-income flows among others can be circumvented. Savings have increased, micro-savers have opened bank accounts, and banks are now able to price short-term loans. This has the potential to develop the financial sector, however, empirical evidence on digitization-financial development nexus is dearth. On the other hand, a number of studies maintained that financial sector development greatly influences growth of economies. We therefore argue that financial sector development is one of the transmission mechanisms through which digitization affects economic growth. Employing macro-country-level data from African countries and using fixed effects, random effects and Hausman-Taylor estimation approaches, this paper contributes to the literature by analysing economic growth in Africa focusing on the role of digitization, and financial sector development. First, we assess how digitization influence financial sector development in Africa. From an economic policy perspective, it is important to identify digitization determinants of financial sector development so that action can be taken to reduce the economic shocks associated with financial sector distortions. This nexus is rarely examined empirically in the literature. Secondly, we examine the effect of domestic credit to private sector and stock market capitalization as a percentage of GDP as used to proxy for financial sector development on 2 economic growth. Digitization is represented by the volume of digital/ICT equipment imported and GDP growth is used to proxy economic growth. Finally, we examine the effect of digitization on economic growth in the light of financial sector development. The following key results were found; first, digitalization propels financial sector development in Africa. Second, financial sector development enhances economic growth. Finally, contrary to our expectation, the results also indicate that digitalization conditioned on financial sector development tends to reduce economic growth in Africa. However, results of the net effects suggest that digitalization, overall, improves economic growth in Africa. We, therefore, conclude that, digitalization in Africa does not only develop the financial sector but unconditionally contributes the growth of the continent’s economies.

Keywords: digitalization, economic growth, financial sector development, Africa

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Authors: I. Hakki Eraslan, Birol Ozturk, Istemi Comlekci

Abstract:

This paper begins by defining what is meant by “globalization” in finance and by identifying the sources of value-added in the internationally-competitive financial services sector origination, trading and distribution of debt and equity capital market instruments and their derivatives, foreign exchange trading and securities brokerage, management of market risk and credit risk, loan syndication and structured bank financings, corporate finance and advisory services, and asset management. These activities are considered in terms of a “value-chain” one that ultimately gives rise to the real economic gains attributable to financial-center operations. The research presents available evidence as to where the relevant value-added activities usually take place. It then examines the “centrifugal” and “centripetal” forces that determine the concentration or dispersal of value-added activity in financial intermediation, both interregionally and internationally. Next, the research assesses the factors, which appear to underlie the locational pattern of international financial centers that has evolved. In preparing this paper, also it is examined the current position and the main opportunities and challenges facing world major financial services sector, and attempted to lay out a potential vision and strategies. It is conducted extensive research, including many internal research materials and publications. It is also engaged closely with the academia, industry practitioners and regulators, and consulted market experts from major world financial centers. More than 60 in‐depth consultative sessions were conducted in the past two years which provided insightful suggestions and innovative ideas on how to further financial industry’s position as an international financial centre. The paper concludes with the outlook for the future pattern of financial centers in the global competitive environment. The ideas and advice gathered are condensed into this paper that recommends to the strategic decision leaders a vision and a strategy for financial services sector to move forward amid a highly competitive environment.

Keywords: financial centers, competitiveness, financial services industry, economics

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Authors: Teguh Sugiarto, Amir Mohamadian Amiri

Abstract:

Background: This study aims to explore if there is fraud in the company's financial report distribution using the number first digit Lucas, Fibonacci and Benford. Research methods: In this study, the author uses a number model contained in the first digit of the model Lucas, Fibonacci and Benford, to make a distinction between implementation by using the scale above and below 5%, the rate of occurrence of a difference against the digit number contained on Lucas, Fibonacci and Benford. If there is a significant difference above and below 5%, then the process of follow-up and detection of occurrence of fraud against the financial statements can be made. Findings: From research that has been done can be concluded that the number of frequency levels contained in the financial statements of PT Bank BRI Tbk in a year in the same conscientious results for model Lucas, Fibonacci and Benford.

Keywords: Lucas, Fibonacci, Benford, first digit

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Authors: Philemon Rakoto

Abstract:

This paper tests the improvement of financial reporting quality when firms award stock options to their executives. The originality of this study is that we introduce the moderating effect of business ethics in the model. The sample is made up of 116 Canadian high-technology firms with available data for the fiscal year ending in 2012. We define the quality of financial reporting as the value relevance of accounting information as developed by Ohlson. Our results show that executive stock option award alone does not improve the quality of financial reporting. Rather, the quality improves when a firm awards stock options to its executives and investors perceive that the level of business ethics in that firm is high.

Keywords: business ethics, Canada, high-tech firms, stock options, value relevance

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Authors: Md Al Masum Bhuiyan, Maria C. Mariani, Osei K. Tweneboah

Abstract:

In the present work, we develop a technique for estimating the volatility of financial time series by using stochastic differential equation. Taking the daily closing prices from developed and emergent stock markets as the basis, we argue that the incorporation of stochastic volatility into the time-varying parameter estimation significantly improves the forecasting performance via Maximum Likelihood Estimation. While using the technique, we see the long-memory behavior of data sets and one-step-ahead-predicted log-volatility with ±2 standard errors despite the variation of the observed noise from a Normal mixture distribution, because the financial data studied is not fully Gaussian. Also, the Ornstein-Uhlenbeck process followed in this work simulates well the financial time series, which aligns our estimation algorithm with large data sets due to the fact that this algorithm has good convergence properties.

Keywords: financial time series, maximum likelihood estimation, Ornstein-Uhlenbeck type models, stochastic volatility model

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Authors: Jarwa Prasetya Sih Handoko

Abstract:

The issue of energy crisis for big cities in Indonesia are issues raised in line with the development of the city is rapidly increasing. Various attempts were made by the government in overcoming problems of energy needs in Indonesia. In addition to the efforts of the government required the efforts made by the public to solve this problem. The concept of green building in the design of the building with efforts to use energy efficiently can be one of the efforts that can be applied to solve this problem. Jakarta is capital and the one of the major cities in Indonesia with high economic growth. This leads to increased demand for office space for the people. So that the construction of office buildings in big cities like Jakarta very numerous. Office building is one of the buildings that require large energy consumption. As a building that could potentially require huge amounts of energy, the design should consider the use of energy to help provide solutions to problems of energy crisis in Indonesia. The concept of energy efficient is one of the concepts addressed in an effort to use energy in buildings to save energy needs of the building operations. Therefore, it is necessary to have a study that explores the application of the concept of energy efficiency and conservation in office buildings in Jakarta. In this study using two (2) buildings case study that Sequis Center Building and Sampoerna Strategic Square. Both are office buildings in Jakarta have earned the Green Building Certificate of Green Building Council Indonesia (GBCI). The study used literature review methods to address issues raised earlier. Whether it's related to a literature review on the study of office buildings and green building. With this paper is expected to be obtained on the application of the concept of energy efficiency and conservation in office buildings that have earned recognition as a green building by GBCI. The result could be a reference to the architect in designing the next office buildings, especially related to the concept of energy use in buildings. From this study, it can be concluded that the concept of energy efficiency and conservation in the design of office buildings can be applied to its orientation, the openings, the use shade in buildings, vegetation and building material selection and efficient use of water. So that it can reduce energy requirements needed to meet the needs of the building user activity. So the concept of energy efficiency and conservation in office buildings can be one of the efforts to realize the Green Office Building. Recommendations from this study is that the design of office buildings should be able to apply the concept of energy utilization in the design office. This is to meet the energy needs of the office buildings in an effort to realize the Green Building.

Keywords: energy crisis, energy efficiency, energy conservation, green building, office building

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Authors: Abdul Ganiyu Iddrisu, Bei Chen

Abstract:

Digitization is the process of transforming analog material into digital form, especially for storage and use in a computer. Significant development of information and communication technology (ICT) over the past years has encouraged many researchers to investigate its contribution to promoting economic growth and reducing poverty. Yet the compelling empirical evidence on the effects of digitization on economic growth remains weak, particularly in Africa. This is because extant studies that explicitly evaluate digitization and economic growth nexus are mostly reports and desk reviews. This points out an empirical knowledge gap in the literature. Hypothetically, digitization influences financial sector development which in turn influences economic growth. Digitization has changed the financial sector and its operating environment. Obstacles to access to financing, for instance, physical distance, minimum balance requirements, and low-income flows, among others can be circumvented. Savings have increased, micro-savers have opened bank accounts, and banks are now able to price short-term loans. This has the potential to develop the financial sector. However, empirical evidence on the digitization-financial development nexus is dearth. On the other hand, a number of studies maintained that financial sector development greatly influences growth of economies. We, therefore, argue that financial sector development is one of the transmission mechanisms through which digitization affects economic growth. Employing macro-country-level data from African countries and using fixed effects, random effects and Hausman-Taylor estimation approaches, this paper contributes to the literature by analysing economic growth in Africa, focusing on the role of digitization and financial sector development. First, we assess how digitization influences financial sector development in Africa. From an economic policy perspective, it is important to identify digitization determinants of financial sector development so that action can be taken to reduce the economic shocks associated with financial sector distortions. This nexus is rarely examined empirically in the literature. Secondly, we examine the effect of domestic credit to the private sector and stock market capitalization as a percentage of GDP as used to proxy for financial sector development on economic growth. Digitization is represented by the volume of digital/ICT equipment imported and GDP growth is used to proxy economic growth. Finally, we examine the effect of digitization on economic growth in the light of financial sector development. The following key results were found; first, digitalization propels financial sector development in Africa. Second, financial sector development enhances economic growth. Finally, contrary to our expectation, the results also indicate that digitalization conditioned on financial sector development tends to reduce economic growth in Africa. However, results of the net effects suggest that digitalization, overall, improve economic growth in Africa. We, therefore, conclude that, digitalization in Africa does not only develop the financial sector but unconditionally contributes the growth of the continent’s economies.

Keywords: digitalization, financial sector development, Africa, economic growth

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Authors: Tan Swee Liang

Abstract:

This paper estimates bank and stock market efficiency associations with real per capita GDP growth by examining panel-data across three different regions using Panel-Corrected Standard Errors (PCSE) regression developed by Beck and Katz (1995). Data from five economies in ASEAN (Singapore, Malaysia, Thailand, Philippines, and Indonesia), five economies in Asia (Japan, China, Hong Kong SAR, South Korea, and India) and seven economies in OECD (Australia, Canada, Denmark, Norway, Sweden, United Kingdom U.K., and United States U.S.), between 1990 and 2017 are used. Empirical findings suggest one, for Asia-5 high bank net interest margin means greater bank profitability, hence spurring economic growth. Two, for OECD-7 low bank overhead costs (as a share of total assets) may reflect weak competition and weak investment in providing superior banking services, hence dampening economic growth. Three, stock market turnover ratio has negative association with OECD-7 economic growth, but a positive association with Asia-5, which suggest the relationship between liquidity and growth is ambiguous. Lastly, for ASEAN-5 high bank overhead costs (as a share of total assets) may suggest expenses have not been channelled efficiently to income generating activities. One practical implication of the findings is that policy makers should take necessary measures toward financial liberalisation policies that boost growth through the efficiency channel, so that funds are efficiently allocated through the financial system between financial and real sectors.

Keywords: financial development, banking system, capital markets, economic growth

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Authors: Azzam Alosaimi

Abstract:

Different countries attempt to reduce energy demands and Greenhouse Gas (GHG) emissions to mitigate global warming potential. They set different building codes to regulate excessive building’s energy losses. Energy losses occur due to pressure difference between the indoor and outdoor environments, and thus, heat transfers from one region to another. One major sources of energy loss is known as building airtightness. Building airtightness is the fundamental feature of the building envelope that directly impacts infiltration. Most of international building codes require minimum performance for new construction to ensure acceptable airtightness. The execution of airtightness required standards has become more challenging in recent years due to a lack of expertise and equipment, making it costly and time-consuming. Hence, researchers have developed predictive models to predict buildings infiltration rates to meet building codes and to reduce energy and cost. This research applies a theoretical modeling approach using Matlab software to predict mean infiltration rate distributions and total heat loss of Saudi Arabia’s housing stock.

Keywords: infiltration rate, energy demands, heating loss, cooling loss, carbon emissions

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Authors: Shibly Abdullah

Abstract:

This paper provides an overview of fundamental philosophical and functional differences in conventional and Islamic accounting. The aim of this research is to undertake a detailed analysis focus on specific illustrations drawn from both these systems and highlight how these differences implicate in recording financial transactions and preparation of financial reports for a range of stakeholders. Accounting as being universally considered as a platform for providing a ‘true and fair’ view of corporate entities can be challenged in the current world view, as the business environment has evolved and transformed significantly. Growth of the non-traditional corporate entity such as Islamic financial institutions, fundamentally questions the applicability of conventional accounting standards in preparation of Shariah-compliant financial reporting. Coupled with this, there are significant concerns about the wider applicability of Islamic accounting standards and framework in order to achieve reporting practices satisfying the information needs generally. Against the backdrop of such a context, this paper raises fundamental question as to how potential convergence could be achieved between these two systems in order to provide users’ a transparent and comparable state of financial information resulting in an alternative framework of financial reporting.

Keywords: accounting, conventional accounting, corporate reporting, Islamic accounting

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Authors: Manel Youssef, Lotfi Belkacem

Abstract:

This paper employs multivariate long memory GARCH models to simultaneously estimate mean and conditional variance spillover effects between oil prices and different financial markets. Since different financial assets are traded based on these market sector returns, it’s important for financial market participants to understand the volatility transmission mechanism over time and across these series in order to make optimal portfolio allocation decisions. We examine weekly returns from January 1, 2003 to November 30, 2012 and find evidence of significant transmission of shocks and volatilities between oil prices and some of the examined financial markets. The findings support the idea of cross-market hedging and sharing of common information by investors.

Keywords: oil prices, stock indices returns, oil volatility, contagion, DCC-multivariate (FI) GARCH

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Authors: S. Roman

Abstract:

This qualitative study used semi-structured interviews with three Canadian educators to examine peace-based pedagogies used in varied teaching contexts and the degree to which the teaching strategies implemented were aligned with goals of peace-keeping, peace-making or peace-building in the classroom. In this research, the teachers’ peace-oriented pedagogy was influenced by various strands of peace education theory, and as such shaped their conceptualization of ‘peace’. The study’s result shows that when educators implemented government-mandated curriculum, they worked around it and/or added content that increased opportunities for democratic peacebuilding. In addition, all three teachers also strengthened their peace-oriented practice by incorporating conflict resolution skills in and outside the classroom to augment a common social-justice oriented goal for peace-making and peace-keeping and made various distinctions around the conditions necessary for peace-building.

Keywords: citizenship, peace-building education, peace-building curriculum, pedagogy

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Authors: Matthias Nnadi

Abstract:

Using samples of 250 large listed firms by market capitalization in China and Hong Kong, we conducted empirical test to determine the impact of regulatory environment on reporting quality following IFRS convergence using three financial reporting measures; earning management, timely loss recognition and value relevance. Our results indicate that accounting data are more value relevant for Hong Kong listed firms than the Chinese A-share firms. The empirical results for timely loss recognition further reveal that there is a larger coefficient estimate on bad news earnings, which suggests that Chines A-share firms are more likely to report losses in a timely manner. The results support the evidence that substantial convergence of IFRS can improve financial reporting quality in a regulated environment such as China. This further supports the expectation that IFRS are relevant to China and has positive effect on its accounting practice and quality.

Keywords: reporting, quality, earning, loss, relevance, financial, China, Hong Kong

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Authors: Lucas Aerre, Wallesson Faria, Roberto Pimentel, Juliana Santos

Abstract:

An extremely disturbing and irritating element in the lives of people and organizations is the noise, the consequences that can bring us has a lot of connection with human health as well as financial and economic aspects. In order to improve the efficiency of buildings in Brazil in general, a performance standard was created, NBR 15.575 in which all buildings are seen in a more systemic and peculiar way, while following the requirements of the standard. The acoustic performance present in these buildings is one such requirement. Based on this, the present work was elaborated with the objective of evaluating through acoustic measurements the acoustic performance of vertical internal fences that are under the incidence of aerial noise of a building in the city of Brasilia-DF. A short theoretical basis is made and soon after the procedures of measurement are described through the control method established by the standard, and its results are evaluated according to the parameters of the same. The measurement performed between rooms of the same unit, presented a standardized sound pressure level difference (D nT, w) equal to 40 dB, thus being classified within the minimum performance required by the standard in question.

Keywords: airborne noise, performance standard, soundproofing, vertical seal

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Authors: Anant Sagar, Manisha Rana, Surabhi Singhal

Abstract:

This study was aimed at analysing the effectiveness of manager-subordinate relationship and the different factors contributing to its effectiveness in a mid-sized IT organization. To define effectiveness in context of a manager-subordinate relationship, a model was framed which analyses personal and professional need fulfilment of subordinates. On basis of this need satisfaction based effectiveness model, relationships are categorized into four types anchored on two scales; Personal Need Satisfaction and Professional Need Satisfaction. These spatial effectiveness scores of a managerial relationship are further mapped with the relationship style of the manager to identify relationship styles which are associated with different effectiveness levels. The relationship style is analysed by using Impact Message Inventory-Circumplex (IMI-C). The results show that managerial relationship’s effectiveness is contingent on manager’s affiliation scores, subordinate’s previous work experience and the ability of managers to influence the personal and professional needs of employees through organizational policies. The findings reflect that effectiveness of manager-subordinate relationship increased in a friendly workplace where managers were adequately empowered to acknowledge employee needs.

Keywords: relationship effectiveness, need fulfilment, managerial style, impact message inventory-circumplex

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Authors: Jenan Abu Qadourah

Abstract:

The suitable surface areas for the ST and PV installation are determined based on incident solar irradiation on different surfaces, shading analysis and suitable architectural area for integration considering limitations due to the constructions, available surfaces area and use of the available surfaces for other purposes. The incident solar radiation on the building surfaces and the building solar exposure analysis of the location of Amman, Jordan, is performed with Autodesk Ecotect analysis 2011 simulation software. The building model geometry within the typical urban context is created in “SketchUp,” which is then imported into Ecotect. The hourly climatic data of Amman, Jordan selected are the same ones used for the building simulation in IDA ICE and Polysun simulation software.

Keywords: photovoltaic, solar thermal, solar incident, simulation, building façade, solar potential

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Authors: Valeriya Tyo, Serikbolat Yessengabulov

Abstract:

Regions with extreme climate conditions such as Astana city require energy saving measures to increase the energy performance of buildings which are responsible for more than 40% of total energy consumption. Identification of optimal building geometry is one of the key factors to be considered. The architectural form of a building has the impact on space heating and cooling energy use, however, the interrelationship between the geometry and resultant energy use is not always readily apparent. This paper presents a comparative case study of two prototypical buildings with compact building shape to assess its impact on energy performance.

Keywords: building geometry, energy efficiency, heat gain, heat loss

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Authors: Hiba Mezaache

Abstract:

The study aims to assess the financial and social efficiency of microfinance institutions in india for the period 2015-2019 by using two models of economies of scale and choosing the output direction of the data envelope analysis (DEA) method and using the MIX MARKET database. The study concluded that microfinance institutions focus on achieving financial efficiency beyond their focus on achieving social efficiency to ensure their continuity in the market. Convergence in the efficiency ratios that have been achieved, but the optimum ratios have been achieved under the changing economies of scale; Efficiency is affected by the depth of reaching low-income groups, as serving this group raises costs and risks. The importance of lending to women in rural areas and raising their awareness to ensure their financial and social empowerment; Make improvements in operating expenses, asset management, and loan personnel control in order to maximize output.

Keywords: microfinance, financial efficiency, social efficiency, mix market, microfinance institutions

Procedia PDF Downloads 136

Authors: Philemon Rakoto

Abstract:

Most executive compensation packages consist of four major components: base fixed salary, annual and long-term non-equity incentive plans, share-based and option-based awards and pension value. According to agency theory, the relative composition of executive compensation packages is one of the mechanisms that firms use to align the interests of executives and shareholders in order to mitigate agency costs. This paper tests the effect of the relative composition of executive compensation packages on financial reporting quality. Financial reporting quality is measured by the value relevance of accounting earnings. Corporate governance is a moderating variable in the model. Using data from Canadian firms composing S&P/TSX index of the year 2013 and governance scores based on Board Games, the analysis shows that, only for firms with good governance, there is an optimal level of the proportion of executive equity-based compensation in relation to total compensation that enhances the quality of financial reporting.

Keywords: Canada, corporate governance, executive compensation packages, financial reporting quality

Procedia PDF Downloads 330

Authors: Qinglu Wu, Anna Wai-Man Choi, Peilian Chi

Abstract:

Gratitude is one individual strength that not only facilitates the mental health, but also fosters the relationship satisfaction in the romantic relationship. In terms of moral effect theory and stress-and-coping theory of forgiveness, present study not only investigated the association between grateful disposition and relationship satisfaction, but also explored the mechanism by comprehensively examining the potential mediating roles of three profiles of forgiveness (trait forgivingness, decisional forgiveness, emotional forgiveness), another character strength that highly related to the gratitude and relationship satisfaction. Structural equation modeling was used to conduct the multiple mediator model with a sample of 103 Chinese college students in dating relationship (39 male students and 64 female students, Mage = 19.41, SD = 1.34). Findings displayed that both gratitude and relationship satisfaction positively correlated with decisional forgiveness and emotional forgiveness. Emotional forgiveness was the only mediator, and it completely mediated the relationship between gratitude and relationship satisfaction. Gratitude was helpful in enhancing individuals’ perception of satisfaction in romantic relationship through replacing negative emotions toward partners with positive ones after transgression in daily life. It highlighted the function of emotional forgiveness in personal healing and peaceful state, which is important to the perception of satisfaction in relationship. Findings not only suggested gratitude could provide a stability for forgiveness, but also the mechanism of prosocial responses or positive psychological processes on relationship satisfaction. The significant roles of gratitude and emotional forgiveness could be emphasized in the intervention working on the romantic relationship development or reconciliation.

Keywords: decisional forgiveness, emotional forgiveness, gratitude, relationship satisfaction, trait forgivingness

Procedia PDF Downloads 255