Search results for: financial vs. environmental feedback framing techniques

Authors: Chun Yu, Tahlia M. Farrant, Max G. Marschall

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Most of Australia’s school classrooms are equipped with operable windows and occupant-controlled air-conditioners that do not provide fresh air. This can result in insufficient ventilation and high indoor CO₂ levels, which comes at a detriment to occupant productivity and health. This paper reports on the results of an in-situ study capturing indoor CO₂ levels in classrooms at a school in Victoria, Australia. The study consisted of 3 measurement periods: First, CO₂ levels pre-pandemic were measured, finding that the readings exceeded the recommended ASHRAE threshold of 1000 ppm more than 50% of the time, with levels often rising as high as 5000 ppm. Then, after the staff had been informed of the poor indoor air quality and the Victorian government had put COVIDSAFE measures in place, a second data set was captured; the impact was significant, with now only about 30% of readings above the ASHRAE threshold, and values rarely exceeding 2500 ppm. Finally, devices were installed that gave the occupants visual feedback when CO₂ levels were high, thus prompting them to open the windows; this further improved the air quality, with now less than 20% of readings above the threshold and values rarely exceeding 1500 ppm. The study suggests that, while relying on occupants to operate windows can lead to poor indoor air quality due to insufficient ventilation, it is possible to considerably influence occupant behavior through education and feedback devices. While these interventions alone did not mitigate the problem of inadequate ventilation entirely, they were sufficient to keep CO₂ levels within a generally healthy range. Considering the large energy savings that are possible by foregoing mechanical ventilation, it is evident that natural ventilation is a feasible operation method for school buildings in temperate climates, as long as classrooms are equipped with CO₂ feedback devices.

Keywords: COVID, CO₂, education, feedback devices, health, indoor air quality, natural ventilation, occupant behaviour

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Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

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The paper deals with finding and describing of the effective marketing communication forms relating to the segment 50+ in the financial market in the Czech Republic. The segment 50+ can be seen as a great marketing potential in the future but unfortunately the Czech financial institutions haven´t still reacted enough to this fact and they haven´t prepared appropriate marketing programs for this customers´ segment. Demographic aging is a fundamental characteristic of the current European population evolution but the perspective of further population aging is more noticeable in the Czech Republic. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of marketing communication in the financial market, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing communication approach to selected sub-segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: population aging in the Czech Republic, segment 50+, financial services, marketing communication, marketing research, marketing communication approach

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Authors: Chaiwat Tantarangsee

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The purposes of this study are 1) to study the frequent English writing errors of students registering the course: Reading and Writing English for Academic Purposes II, and 2) to find out the results of writing error correction by using coded indirect corrective feedback and writing error treatments. Samples include 28 2nd year English Major students, Faculty of Education, Suan Sunandha Rajabhat University. Tool for experimental study includes the lesson plan of the course; Reading and Writing English for Academic Purposes II, and tool for data collection includes 4 writing tests of short texts. The research findings disclose that frequent English writing errors found in this course comprise 7 types of grammatical errors, namely Fragment sentence, Subject-verb agreement, Wrong form of verb tense, Singular or plural noun endings, Run-ons sentence, Wrong form of verb pattern and Lack of parallel structure. Moreover, it is found that the results of writing error correction by using coded indirect corrective feedback and error treatment reveal the overall reduction of the frequent English writing errors and the increase of students’ achievement in the writing of short texts with the significance at .05.

Keywords: coded indirect corrective feedback, error correction, error treatment, English writing

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Authors: Zeyad Abdelmageid, Xianbin Wang

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Choosing the operational channel for a WLAN access point (AP) in WLAN networks has been a static channel assignment process initiated by the user during the deployment process of the AP, which fails to cope with the dynamic conditions of the assigned channel at the station side afterward. However, the dramatically growing number of Wi-Fi APs and stations operating in the unlicensed band has led to dynamic, distributed, and often severe interference. This highlights the urgent need for the AP to dynamically select the best overall channel of operation for the basic service set (BSS) by considering the distributed and changing channel conditions at all stations. Consequently, dynamic channel selection algorithms which consider feedback from the station side have been developed. Despite the significant performance improvement, existing channel selection algorithms suffer from very high feedback overhead. Feedback latency from the STAs, due to the high overhead, can cause the eventually selected channel to no longer be optimal for operation due to the dynamic sharing nature of the unlicensed band. This has inspired us to develop our own dynamic channel selection algorithm with reduced overhead through the proposed low-overhead, cluster-based station reporting mechanism. The main idea behind the cluster-based station reporting is the observation that STAs which are very close to each other tend to have very similar channel conditions. Instead of requesting each STA to report on every candidate channel while causing high overhead, the AP divides STAs into clusters then assigns each STA in each cluster one channel to report feedback on. With the proper design of the cluster based reporting, the AP does not lose any information about the channel conditions at the station side while reducing feedback overhead. The simulation results show equal performance and, at times, better performance with a fraction of the overhead. We believe that this algorithm has great potential in designing future dynamic channel selection algorithms with low overhead.

Keywords: channel assignment, Wi-Fi networks, clustering, DBSCAN, overhead

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Authors: Kerem Ok, Serafettin Senturk, Serdar Aktas, Cem Cevikbas

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Mobile technology is very popular nowadays and it provides a digital world where users can experience many value-added services. Service Providers are also eager to offer diverse value-added services to users such as digital identity, mobile financial services and so on. In this context, the security of data storage in smartphones and the security of communication between the smartphone and service provider are critical for the success of these services. In order to provide the required security functions, the SIM card is one acceptable alternative. Since SIM cards include a Secure Element, they are able to store sensitive data, create cryptographically secure keys, encrypt and decrypt data. In this paper, we design and implement a SIM and a smartphone framework that uses a SIM card for secure key generation, key storage, data encryption, data decryption and digital signing for mobile financial services. Our frameworks show that the SIM card can be used as a controlled Secure Element to provide required security functions for popular e-services such as mobile financial services.

Keywords: SIM card, mobile financial services, cryptography, secure data storage

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Authors: A. A. Altalbe, N. W Bergmann

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There has been significant recent interest in on-line learning, as well as considerable work on developing technologies for virtual laboratories for engineering students. After reviewing the state-of-the-art of virtual laboratories, this paper steps back from the technology issues to look in more detail at the pedagogical issues surrounding virtual laboratories, and examines the role of gathering student feedback in the development of such laboratories. The main contribution of the paper is a set of student surveys before and after a prototype deployment of a simulation laboratory tool, and the resulting analysis which leads to some tentative guidelines for the design of virtual engineering laboratories.

Keywords: engineering education, elearning, electrical engineering, virtual laboratories

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Authors: Yara Bajnaid, Malak Zaidan, Eman Dakkak

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This research explores the use of Artificial Intelligence in Duolingo, a popular mobile application for language learning. Duolingo's success hinges on its gamified approach and adaptive learning system, both heavily reliant on AI functionalities. The research also analyzes user feedback regarding Duolingo's AI functionalities. While a significant majority (70%) consider Duolingo a reliable tool for language learning, there's room for improvement. Overall, AI plays a vital role in personalizing the learning journey and delivering interactive exercises. However, continuous improvement based on user feedback can further enhance the effectiveness of Duolingo's AI functionalities.

Keywords: AI, Duolingo, language learning, application

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Authors: Nadezhda Kvatashidze, Elena Kharabadze

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It is broadly known that lease is a flexible means of funding enterprises. Lease reduces the risk related to access and possession of assets, as well as obtainment of funding. Therefore, it is important to refine lease accounting. The lease accounting regulations under the applicable standard (International Accounting Standards 17) make concealment of liabilities possible. As a result, the information users get inaccurate and incomprehensive information and have to resort to an additional assessment of the off-balance sheet lease liabilities. In order to address the problem, the International Financial Reporting Standards Board decided to change the approach to lease accounting. With the deficiencies of the applicable standard taken into account, the new standard (IFRS 16 ‘Leases’) aims at supplying appropriate and fair lease-related information to the users. Save certain exclusions; the lessee is obliged to recognize all the lease agreements in its financial report. The approach was determined by the fact that under the lease agreement, rights and obligations arise by way of assets and liabilities. Immediately upon conclusion of the lease agreement, the lessee takes an asset into its disposal and assumes the obligation to effect the lease-related payments in order to meet the recognition criteria defined by the Conceptual Framework for Financial Reporting. The payments are to be entered into the financial report. The new lease accounting standard secures supply of quality and comparable information to the financial information users. The International Accounting Standards Board and the US Financial Accounting Standards Board jointly developed IFRS 15: ‘Revenue from Contracts with Customers’. The standard allows the establishment of detailed revenue recognition practical criteria such as identification of the performance obligations in the contract, determination of the transaction price and its components, especially price variable considerations and other important components, as well as passage of control over the asset to the customer. IFRS 15: ‘Revenue from Contracts with Customers’ is very similar to the relevant US standards and includes requirements more specific and consistent than those of the standards in place. The new standard is going to change the recognition terms and techniques in the industries, such as construction, telecommunications (mobile and cable networks), licensing (media, science, franchising), real property, software etc.

Keywords: assessment of the lease assets and liabilities, contractual liability, division of contract, identification of contracts, contract price, lease identification, lease liabilities, off-balance sheet, transaction value

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Authors: Lukasz Kurowski, Paweł Smaga

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We explore the procyclicality of monetary policy decisions towards the financial cycle in the 1995−2015 period on a sample of six central banks. Using interest rate paths and the credit-to-GDP gap to construct a monetary policy procyclicality ratio, we provide evidence that monetary policy procyclicality was high in BoE and CNB and low in Riksbank and ECB. The results support the need for coordination between macroprudential and monetary policies, for example, by including financial stability considerations to the inflation targeting strategy.

Keywords: central bank, financial stability, macroprudential policy, monetary policy

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Authors: Giorgi Methodishvili, Iuliia Methodishvili

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In this paper product development algorithm is used to determine the optimal management of financial resources in company. Aspects of financial management considered include put initial investment, examine all possible ways to solve the problem and the optimal rotation length of profit. The software of given problems is based using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: management, software, optimal, greedy algorithm, graph-diagram

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Authors: Peter Clutterbuck, Terry Rowlands, Owen Seamons

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In this paper we describe one critical research program within a complex, ongoing multi-year project (2010 to 2014 inclusive) with the overall goal to improve the learning outcomes for first year undergraduate commerce/business students within an Information Systems (IS) subject with very large enrolment. The single research program described in this paper is the analysis of student attitudes and decision making in relation to the availability of formative assessment feedback via Web-based real time conferencing and document exchange software (Adobe Connect). The formative assessment feedback between teaching staff and students is in respect of an authentic problem-based, team-completed assignment. The analysis of student attitudes and decision making is investigated via both qualitative (firstly) and quantitative (secondly) application of the Theory of Planned Behavior (TPB) with a two statistically-significant and separate trial samples of the enrolled students. The initial qualitative TPB investigation revealed that perceived self-efficacy, improved time-management, and lecturer-student relationship building were the major factors in shaping an overall favorable student attitude to online feedback, whilst some students expressed valid concerns with perceived control limitations identified within the online feedback protocols. The subsequent quantitative TPB investigation then confirmed that attitude towards usage, subjective norms surrounding usage, and perceived behavioral control of usage were all significant in shaping student intention to use the online feedback protocol, with these three variables explaining 63 percent of the variance in the behavioral intention to use the online feedback protocol. The identification in this research of perceived behavioral control as a significant determinant in student usage of a specific technology component within a virtual learning environment (VLE) suggests that VLEs could now be viewed not as a single, atomic entity, but as a spectrum of technology offerings ranging from the mature and simple (e.g., email, Web downloads) to the cutting-edge and challenging (e.g., Web conferencing and real-time document exchange). That is, that all VLEs should not be considered the same. The results of this research suggest that tertiary students have the technological sophistication to assess a VLE in this more selective manner.

Keywords: formative assessment feedback, virtual learning environment, theory of planned behavior, perceived behavioral control

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Authors: Nada Souissi, Mourad Mroua

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The main purpose of this study is to examine the interaction between financial asset volatility, economic factors and investor's behavioral indicators related to both the company's and the markets stocks for the period from January 2000 to January2020. Using multiple linear regression and Bayesian Networks modeling, results show a positive and negative relationship between investor's psychology index, economic factors and predicted stock market return. We reveal that the application of the Bayesian Discrete Network contributes to identify the different cause and effect relationships between all economic, financial variables and psychology index.

Keywords: Financial asset return predictability, Economic factors, Investor's psychology index, Bayesian approach, Probabilistic networks, Parametric learning

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Authors: Abdelsalam Elawwad, Mostafa Ragab, Hisham Abdel-Halim

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Leakage in sewerage system can cause groundwater and soil contamination in urban areas, especially in area with a high groundwater table. This is a serious problem in small villages in developing countries that rely on ground water as a source for irrigation and drinking purposes. In the developed countries, the recent trend in areas with low population densities is vacuum sewerage system, which is environmentally safer than conventional gravity system, protecting public health, preventing exfiltration to the ground water, very easily applied in a relatively short time and can cope with a faster expansion of the urbanized areas. The aim of this work is to assess the feasibility of using vacuum sewerage in developing country, such as Egypt. Knowledge of local conditions can determine the most suitable sewer system for a specific region. Technical, environmental and financial comparisons between conventional sewerage system and vacuum sewerage system were held using statistical analysis. Different conditions, such as population densities, geometry of area, and ground water depths were evaluated. Sample comprising of 30 Egyptian villages was selected, where a complete design for conventional sewerage system and vacuum sewerage system was done. Based on this study, it is recommended from the environmental point of view to construct the vacuum sewerage system in such villages with low population densities; however, it is not economic for all cases. From financial point of view, vacuum sewerage system was a good competitor to conventional systems in flat areas and areas with high groundwater table. The local market supplying of the construction equipment especially collection chambers will greatly affect the investment cost. Capacity building and social mobilization will also play a great role in sustainability of this system. At the end, it is noteworthy that environmental sustainability and public health are more important than the financial aspects.

Keywords: ground water, conventional system, vacuum system, statistics, cost, density, terrain

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Authors: Salma Mefteh-Wali, Marie-Josephe Rigobert

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We investigate the impact of foreign currency debt on firm performance for a sample of non-financial French firms studied over the period 2002 to 2012. As foreign currency debt is both a financing and hedging instrument against foreign exchange risk, we mobilize optimal hedging theory and capital structure theory. When we study the impact on firm value, our main results show that before and after the financial crisis of 2008, foreign debt had the same behavior as domestic debt. We find that during the crisis period, foreign debt positively affects firm value. Investors perceive foreign debt as a natural hedging instrument that is likely to reduce the costs of underinvestment, alleviate cash flow volatility, limit the costs of financial distress, and generate tax shield benefits. Also, our results show that foreign leverage negatively affects the firm performance proxied by ROA and ROE, during and after the financial crisis. However, this impact is positive in the pre-crisis period.

Keywords: foreign currency derivatives, foreign currency debt, foreign currency hedging, firm performance

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Authors: Lawrence Ngalim

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In this paper, we investigate whether the adoption of recent technological advancements in delivering financial services, such as crowdfunding, assists the financially excluded across twenty-seven Sub Saharan Africa (SSA) through entrepreneurship. Results show that even after addressing potential endogeneity issues as much as possible, crowdfunding and entrepreneurial-ventures are strongly associated i.e., crowdfunding translates a 5 – 9 percentage increase on incumbent/prospective individuals who borrowed to enhance/embark on a venture across SSA economies between 2014 to 2017. The study has some implications for regional financial alliance if economies adopt this recent financial technology which offers another financing opportunity that’s unrestricted by territorial boundaries.

Keywords: fintech, finance, entrepreneurship, SSA

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Authors: Pratibha Srivastava, Chithra V. J., Sudhakar S., Nitin K. D.

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A closed-loop system comprises of a controller, a response system, and an actuating system. The controller, which is the system under test for us, excites the actuators based on feedback from the sensors in a periodic manner. The sensors should provide the feedback to the System Under Test (SUT) within a deterministic time post excitation of the actuators. Any delay or miss in the generation of response or acquisition of excitation pulses may lead to control loop controller computation errors, which can be catastrophic in certain cases. Such systems categorised as hard real-time systems that need special strategies. The real-time operating systems available in the market may be the best solutions for such kind of simulations, but they pose limitations like the availability of the X Windows system, graphical interfaces, other user tools. In this paper, we present strategies that can be used on a general purpose operating system (Bare Linux Kernel) to achieve a deterministic deadline and hence have the added advantages of a GPOS with real-time features. Techniques shall be discussed how to make the time-critical application run with the highest priority in an uninterrupted manner, reduced network latency for distributed architecture, real-time data acquisition, data storage, and retrieval, user interactions, etc.

Keywords: real time data acquisition, real time kernel preemption, scheduling, network latency

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Authors: Mete Kazaz, Birol Gülnar

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Television news has gained a new dimension in terms of ideological approaches as a result of such factors as globalization, cross monopolization, presence of international companies etc. and certain strategies have been developed at the production, presentation and distribution stages of news. In this study, television news about a process called “settlement process” was investigated. In this framework, news about the settlement process on TV channels of TRT 1, ATV, FOX TV, NTV, HABERTÜRK, TRT HABER and STV was investigated using the content analysis method in terms of the strategies the ideology construction, attitude towards the party in power, attitude towards parties in opposition and attitude towards BDP (Peace and Democracy Part) and Imrali (the island where Abdullah Ocalan, head of PKK, is kept). First, the aforementioned TV channels were selected randomly from 3 groups in order to be able to reveal the representational capacity of commercial, news and public channels. The study covers 557 news items broadcast in the main news bulletins between the dates of 15 March 2013 and 15 March 2013. While there was a positive attitude towards the government in a sizable portion of the news about the settlement process (63.6%), the attitude of 25.3% of the news was impartial towards the government and 11.3% had a negative attitude. On the other hand, there was a negative attitude towards the Opposition in a considerable portion of the news about the settlement process (56.1%). The attitude of 35.9% of the news towards the Opposition was impartial whereas 8.0% had a positive attitude. While 34.9% of the news about the settlement process used the legitimization strategy from among the ideology construction strategies, 22.8% used the unification strategy, 15.7% the reification strategy, 15.6% fractional and 11% concealment/mystification strategy.

Keywords: attitude, ideological framing, television news, social sciences

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Authors: Xuefan Li

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Parts of Chinese doctoral students in Canada are facing significant academic pressure. The factors contributing to such pressure are diverse, including financial conditions and cultural differences. Students from various academic disciplines have been interviewed to investigate the factors that Chinese students consider when selecting Canada as a destination for doctoral studies, as well as to identify the challenges they face during their academic pursuits and the associated factors influencing their performance. The findings indicate that their motivations to pursue doctoral study in Canada are concluded as both push and pull factors. Financial conditions and cultural differences are critical factors affecting academic performance, with disciplinary variations in the degree of influence observed.

Keywords: Chinese doctoral students, financial status, cultural cognition, academic performance

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Authors: Ben-Caleb Egbide, Egharevba Mathew, Achugamonu Uzoma, Faboyede Samuel

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The importance of budgeting in government and corporate entities as medium for the efficient management of scarce resources is self-evident. But when it comes to home or personal budgeting, there seem to be lingering misconceptions as regards its relevance. While most people view personal budgeting merely as a tool for tracking expenses and schedule for paying bills and indebtedness, very few consider it as one of the most important device for sound financial planning, money management instrument and/or wealth-creation mechanism. This paper is conceptualised to investigate the association between personal budgeting and financial well-being among staffers of tertiary institution in the South West Nigeria. Underpinned by the individualistic/cultural theory of well-being and the adoption of a survey research design, a structured questionnaire was used to gather data from a cross section of staff of tertiary Institutions in Ogun State. A Spearman Rank Correlation was utilised for analysis of data. The result indicates a high positive relationship between personal budgeting and tendencies for enhanced financial well-being among staff. The paper established that a change of value and behavioural pattern by individuals and household, especially in the areas of personal spending and budgeting could drastically reduce the incidence of the severity of financial stress, hence, enhanced wellness among staff.

Keywords: personal budgeting, financial well-being, tertiary institutions staffers, Nigeria

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Authors: Md. Kamal Uddin

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Bangladesh is trying to achieve Sustainable Development Goals (SDGs) by 2030. Environmental Education (EE) is very vital to reaching the agenda of SDGs. However, a lack of environmental awareness and gaps in theoretical knowledge and its practices still exists in Bangladesh. Therefore, this research aims to understand the students’ perceptions of whether and how their behaviour is environment-friendly to achieve SDGs. It also addresses teachers’ perceptions of what are the shortcomings of environmental education in Bangladesh. It uses the qualitative and quantitative techniques of data collection and analysis based on in-depth interviews, surveys among different categories of participants and classroom observation. The paper finds that the level of EE and students’ awareness of the environment is inadequate. Some teachers believe that the EE is not better in Bangladesh due to the absence of practical learning of EE, lack of the motivations and actions, institutional weakness, inadequate policies, poor implementation, and cultural and traditional beliefs. Thus, this paper argues that Bangladeshi EE is not adequate to change the behaviour of the students towards the environment, which makes it difficult for the country to ensure SD. Thus, this research suggests that there is a need to revise the environmental education policy to change the behaviour and structure of the country for sustainable development.

Keywords: environmental education, sustainable development, environmental practice, environmental behaviour, Bangladesh

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Authors: Arun Kumar Yadav, Badam Singh Kushvah

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In the present work, we investigated displaced periodic orbits in the linear order in the circular restricted three-body Sun-Jupiter system, where the third mass-less body utilizes solar electric sail. The electric solar sail is a new space propulsion concept which uses the solar wind momentum for producing thrust, and it is somewhat like to the more well-known solar radiation pressure sail which is often called simply the solar sail. Moreover, we implement the feedback linearization control scheme to perform the stabilization and trajectory tracking for the nonlinear system. Further, we derived periodic orbits analytically in linear order by introducing a first order approximation. These approximate analytic solutions are utilized in a numerical search to determine displaced periodic orbit in the full nonlinear model. We found the displaced periodic orbit for the defined non-linear model and stabilized the model.

Keywords: solar electric sail, circular restricted three-body problem (CRTBP), displaced orbit, feedback linearization control

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Authors: Evagelia Makri, Maria Tsourela, Dimitris Paschaloudis, Dafni M. Nerantzaki

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One of the biggest financial and social problems, which at the same time constitute one of the greater challenges that Greek society faces today, is the illegal avoidance of tax payments. Tax evasion may negate financial data and community budgets, as well as breed financial chaos. This research seeks to reflect Greek reality concerning tax measures. Also, there will be an effort to record the factors surrounding tax evasion. Greek tax system’s data will be rendered in financial terms. Questionnaires will be handed out to tax payers, and interviews will be conducted to taxmen. The quantitative analysis of the questionnaire answers will define the tax payers’ opinion towards the existence of tax evasion. The qualitative analysis of the interviews will reveal the main reason that boosts tax evasion. At the end, there will be some realistic proposals about how to better collect taxes, through the creation of a strong regulatory mechanism.

Keywords: tax evasion, tax collection measures, insurance recovery measures, Greek tax system

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Authors: Joseph Omeiza Alao

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The wobbly state of waste management and the high level of environmental irresponsibility is a threat to environmental security, which invariably endangered public health, regional groundwater systems and atmospheric condition. The dumping of waste materials in water bodies and gutters and the frequent burning of waste materials heaped at dumpsites as well depict the highest level of environmental indiscipline. These unruly human factors have compelled this study to apply four different techniques for environmental impact assessment and the possible public health risks of poor waste management in Nigeria. The techniques include a geophysical survey (resistivity data acquisition), dispatched questionnaire surveys, physiochemical water analysis and a physical survey of several dumpsites. While the resistivity data indicates high-level dumpsite leachate invading the ground soil down to the water table, the physiochemical water analysis depicts high content of BOD (401 – 711) mg/l, COD (731 – 1312) mg/l, TDS (419 – 1871) mg/l and heavy metals (0.014 – 1.971) mg/l present in the regional groundwater systems, which have altered the chemistry of the regional groundwater. The resistivity data shows that the overburdened soil layer overlaying the regional groundwater systems was very low (4.5 Ωm – 151 Ωm) as against the existing data (180 Ωm – 3500 Ωm). However, the physical surveys and the dispatched questionnaire surveys explore the depth of environmental irresponsibility among the citizen. While the imprints of gross environmental indiscipline may be absolutely irreversible, adequate knowledge of the environmental implications of careless waste disposal. After a critical examination of the current waste management strategies in Nigeria, the study suggests a future direction for environmental security and sustainability. Several influential regional factors, such as geology, climatic conditions, and hydrology, were also discussed.

Keywords: groundwater, environmental indiscipline, waste management, water analysis, leachate plumes, public health

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Authors: Mohamed Aljarallah, Mohamed Nurullah, George Saridakis

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This paper aims and objectives are to investigate how the structural change of the financial regulatory bodies affect the financial supervision and how the regulators can design such a structure with taking into account; the Central Bank, the conduct of business and the prudential regulators, it will also consider looking at the structure of the international regulatory bodies and what barriers are found. There will be five questions to be answered; should conduct of business and prudential regulation be separated? Should the financial supervision and financial stability be separated? Should the financial supervision be under the Central Bank? To what extent the politician should intervene in changing the regulatory and supervisory structure? What should be the regulatory and supervisory structure when there is financial conglomerate? Semi structure interview design will be applied. This research sample selection contains a collective of financial regulators and supervisors from the emerged and emerging countries. Moreover, financial regulators and supervisors must be at a senior level at their organisations. Additionally, senior financial regulators and supervisors would come from different authorities and from around the world. For instance, one of the participants comes from the International Bank Settlements, others come from European Central Bank, and an additional one will come from Hong Kong Monetary Authority and others. Such a variety aims to fulfil the aims and objectives of the research and cover the research questions. The analysis process starts with transcription of the interview, using Nvivo software for coding, applying thematic interview to generate the main themes. The major findings of the study are as follow. First, organisational structure changes quite frequently if the mandates are not clear. Second, measuring structural change is difficult, which makes the whole process unclear. Third, effective coordination and communication are what regulators looking for when they change the structure and that requires; openness, trust, and incentive. In addition to that, issues appear during the event of crisis tend to be the reason why the structure change. Also, the development of the market sometime causes a change in the regulatory structure. And, some structural change occurs simply because of the international trend, fashion, or other countries' experiences. Furthermore, when the top management change the structure tends to change. Moreover, the structure change due to the political change, or politicians try to show they are doing something. Finally, fear of being blamed can be a driver of structural change. In conclusion, this research aims to provide an insight from the senior regulators and supervisors from fifty different countries to have a clear understanding of why the regulatory structure keeps changing from time to time through a qualitative approach, namely, semi-structure interview.

Keywords: financial regulation bodies, financial regulatory structure, global financial regulation, financial crisis

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Authors: Vishwa Nath Maurya, Rama Shanker Sharma, Saad Talib Hasson Aljebori, Avadhesh Kumar Maurya, Diwinder Kaur Arora

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Present paper deals with problems of determining the relationship between the variables of corporate governance and financial performance of Islamic banks. Here, we dealt with the corporate governance in the banking sector, where increasing the importance of corporate governance, due to their special nature, as the bankruptcy of banks affects not only the relevant parties from customers, depositors and lenders, but also affect financial stability and then the economy as a whole. Through this paper we dealt to the specificity of governance in Islamic banks, which face double governance: Anglo-Saxon governance system and Islamic governance system. In addition, we focused our attention to measure the impact of corporate governance variables on financial performance through an empirical study on a sample of Islamic banks during the period 2005-2012 in the GCC region. Our present study implies that there is a very strong relationship between the variables of governance and financial performance of Islamic banks, where there is a positive relationship between return on assets and the composition of the Board of Directors, the size of the Board of Directors, the number of committees in the Council, as well as the number of members of the Sharia Supervisory Board, while it is clear that there is a negative relationship between return on assets and concentration ownership.

Keywords: correlation analysis, parametric estimation, corporate governance, financial performance, financial stability, conventional banks, bankruptcy, Islamic governance system

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Authors: Yosra Makni, Mariam Dammak, Dhouha Abed

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Purpose: This paper investigates the mediating role of corporate reputation on the relationship between corporate social responsibility and financial performance. Design/Methodology/Approach: Based on a sample of 4329 drawn from 33 developed and developing countries and over a period of eight-year ranging from 2009 to 2016, we apply an Ordinary Least Squares regression (OLS) regressions to test our hypotheses. Findings: The authors find that there is a positive association between Corporate Social Responsibility (CSR) engagement and the financial performance of a company. They also document that there is a positive association between CSR engagement and a company's reputation and the company's reputation mediates the relationship between engagement in CSR activities and financial performance. Originality Value: This study contributes to the literature in the following ways. First, our research advances the understanding of the link between corporate social responsibility and financial performance by responding to the requests of several researchers to study the mechanisms of mediation between these two concepts given the scarcity relative to currently available research. So we include the most important predicted advantage of CSR, namely reputation, by developing and testing a more complex relationship. Secondly, these relationships have been investigated using an international sample drawn from a large number of countries with a high reputation. Using Judy and Kenny's method, we have confirmed that the company's reputation can play the role of a mediating variable on the relationship between CSR's commitment to operations and the financial performance of the company. More specifically, the more the company is engaged in the activities of CSR, the more it can have a good reputation, more than it has a good financial performance.

Keywords: corporate social responsibility, company's reputation, financial performance, mediating variable

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Authors: Chengxuan Geng, Yizhou E

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This paper mainly examines the changes in the relationship between earnings management and audit quality before and after financial crisis in the context of American firms from 2005 to 2010. Based on a sample of 3584 firm year observations, we find that there are changes concerning the relation between accrual-based earnings management and audit quality during the pre-crisis and post-crisis periods. However, the results do not provide enough evidence with regard to the variances in the association between real activities earnings management and audit quality during these two periods.

Keywords: audit quality, earnings management, financial crisis, relationship

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Authors: Aleksandra Nocoń (Szunke)

Abstract:

The study is a review of the literature concerning the consequences of non-standard monetary policy, which are used by central banks during unconventional periods, threatening instability of the banking sector. In particular, the attention was paid to the effects of non-standard monetary policy tools for financial markets. However, the empirical evidence about their effects and real consequences for the financial markets are still not final. The main aim of the study is to survey the consequences of standard and non-standard monetary policy instruments, implemented during the global financial crisis in the United States, United Kingdom and Euroland, with particular attention to the results for the stabilization of global financial markets. The study analyses the consequences for short and long-term market interest rates, interbank interest rates and LIBOR-OIS spread. The study consists mainly of the empirical review, indicating the impact of the implementation of these tools for the financial markets. The following research methods were used in the study: literature studies, including domestic and foreign literature, cause and effect analysis and statistical analysis.

Keywords: asset purchase facility, consequences of monetary policy instruments, non-standard monetary policy, quantitative easing

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Authors: Amit Das

Abstract:

Background and significance of the study: Generally investors and market forecasters use financial statement for investigation while it awakens contribute to investing. The main vicinity of financial accounting and reporting practices recommends a few basic financial performance indicators, namely, return on capital employed, return on assets and earnings per share, which is associated considerably with share prices. It is principally true in case of Indian pharmaceutical companies also. Share investing is intriguing a financial risk in addition to investors look for those financial evaluations which have noteworthy shock on share price. A crucial intention of financial statement analysis and reporting is to offer information which is helpful predominantly to exterior clients in creating credit as well as investment choices. Sound financial performance attracts the investors automatically and it will increase the share price of the respective companies. Keeping in view of this, this research work investigates the impact of financial performance indicators on share price of pharmaceutical companies in India which is listed in the Bombay Stock Exchange. Methodology: This research work is based on secondary data collected from moneycontrol database on September 28, 2015 of top 101 pharmaceutical companies in India. Since this study selects four financial performance indicators purposively and availability in the database, that is, earnings per share, return on capital employed, return on assets and net profits as independent variables and one dependent variable, share price of 101 pharmaceutical companies. While analysing the data, correlation statistics, multiple regression technique and appropriate test of significance have been used. Major findings: Correlation statistics show that four financial performance indicators of 101 pharmaceutical companies are associated positively and negatively with its share price and it is very much significant that more than 80 companies’ financial performances are related positively. Multiple correlation test results indicate that financial performance indicators are highly related with share prices of the selected pharmaceutical companies. Furthermore, multiple regression test results illustrate that when financial performances are good, share prices have been increased steadily in the Bombay stock exchange and all results are statistically significant. It is more important to note that sensitivity indices were changed slightly through financial performance indicators of selected pharmaceutical companies in India. Concluding statements: The share prices of pharmaceutical companies depend on the sound financial performances. It is very clear that share prices are changed with the movement of two important financial performance indicators, that is, earnings per share and return on assets. Since 101 pharmaceutical companies are listed in the Bombay stock exchange and Sensex are changed with this, it is obvious that Government of India has to take important decisions regarding production and exports of pharmaceutical products so that financial performance of all the pharmaceutical companies are improved and its share price are increased positively.

Keywords: financial performance indicators, share prices, pharmaceutical companies, India

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Authors: Mohammad Ghavami, Reza S. Dilmaghani

Abstract:

This paper presents an adaptive framework for modelling financial markets using equity risk premiums, risk free rates and volatilities. The recorded economic factors are initially used to train four adaptive filters for a certain limited period of time in the past. Once the systems are trained, the adjusted coefficients are used for modelling and prediction of an important financial market index. Two different approaches based on least mean squares (LMS) and recursive least squares (RLS) algorithms are investigated. Performance analysis of each method in terms of the mean squared error (MSE) is presented and the results are discussed. Computer simulations carried out using recorded data show MSEs of 4% and 3.4% for the next month prediction using LMS and RLS adaptive algorithms, respectively. In terms of twelve months prediction, RLS method shows a better tendency estimation compared to the LMS algorithm.

Keywords: adaptive methods, LSE, MSE, prediction of financial Markets

Procedia PDF Downloads 312