Search results for: investors' perception

Authors: Idahosa Osagie Ojo

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This research is on colonial racism and the Benin bronze artefacts between 1862 and 1960. It analyses the British racial sentiments against the Benin people that heralded colonial rule and how they influenced the perceptions of the artworks during the period. The aim is to contribute to the knowledge of colonial rule in Benin by bringing to the fore its impacts on the perception and interpretation of the Benin bronze artefacts during the period. Primary and secondary sources were utilised and the historical method was adopted. The findings reveal that the first British racial propaganda against the Benin people started in 1862 and that it was consciously orchestrated to manoeuvre public opinion for the ill-conceived colonial project. The research also reveals that the Benin people were not alone in this, as other peoples of Africa that were targeted for British colonial domination suffered the same fate. Findings also show that racial propaganda was actually used to rationalised colonial rule in Benin and that it later influenced the interpretations and perception of the Benin bronze artefacts throughout the colonial period and beyond.

Keywords: Benin, Bronzes, colonial, racism

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Authors: Saima Batool, Saima Rafique

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Background and Objective: Pandemics like COVID-19 adversely affect children’s behavior and psychological development by disrupting routine life activities. Children of healthcare workers are exposed additionally due to the fear of parental exposure to the virus. The objective of this study was to assess the perception of frontline healthcare workers (HCWs) regarding the psychological impact of the COVID-19 pandemic on their children. We also sought to identify the difference in the psychological impact on children of male and female healthcare workers. Methods: A survey questionnaire was developed comprising 10 questions about the perception of HCWs regarding the psychological impact of COVID-19 on their children. It was distributed both online and face-to-face among 150 healthcare professionals working in training and non-training posts in 4 public and 5 nongovernment hospitals in Pakistan. The mean and standard deviation were calculated for each survey item using Statistical Package for the Social Sciences 26.0. Results: The response rate was 71.3%, and the majority (64.2%) of the healthcare professionals were ≥30 years of age. Ninety-two HCWs (85.98%) either agreed or strongly agreed that parental separation from their kids for long hours during the pandemic had a negative psychological impact on their children. There was a significant difference in the perceived psychological impact of COVID-19 on the children of male and female HCWs, with a mean survey score of 2.29 ± 1.82 and 1.69 ± 0.79, respectively (t = 2.29, p-value = 0.024). Conclusion: Children of healthcare workers experience more stress and anxiety because of long duty hours and working in high-risk settings. Continuous psychological support and counseling services may be adopted formally to prevent unforeseen adverse events or any long-term negative impact on their physical and mental health.

Keywords: healthcare workers, pandemic, COVID-19, anxiety, psychological

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Authors: Pratap Chandra Pati, Prabina Rajib, Parama Barai

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The traditional finance theory neglects the role of sentiment factor in asset pricing. However, the behavioral approach to asset-pricing based on noise trader model and limit to arbitrage includes investor sentiment as a priced risk factor in the assist pricing model. Investor sentiment affects stock more that are vulnerable to speculation, hard to value and risky to arbitrage. It includes small stocks, high volatility stocks, growth stocks, distressed stocks, young stocks and non-dividend-paying stocks. Since the introduction of Chicago Board Options Exchange (CBOE) volatility index (VIX) in 1993, it is used as a measure of future volatility in the stock market and also as a measure of investor sentiment. CBOE VIX index, in particular, is often referred to as the ‘investors’ fear gauge’ by public media and prior literature. The upward spikes in the volatility index are associated with bouts of market turmoil and uncertainty. High levels of the volatility index indicate fear, anxiety and pessimistic expectations of investors about the stock market. On the contrary, low levels of the volatility index reflect confident and optimistic attitude of investors. Based on the above discussions, we investigate whether market-wide fear levels measured volatility index is priced factor in the standard asset pricing model for the Indian stock market. First, we investigate the performance and validity of Fama and French three-factor model and Carhart four-factor model in the Indian stock market. Second, we explore whether India volatility index as a proxy for fearful market-based sentiment indicators affect the cross section of stock returns after controlling for well-established risk factors such as market excess return, size, book-to-market, and momentum. Asset pricing tests are performed using monthly data on CNX 500 index constituent stocks listed on the National stock exchange of India Limited (NSE) over the sample period that extends from January 2008 to March 2017. To examine whether India volatility index, as an indicator of fear sentiment, is a priced risk factor, changes in India VIX is included as an explanatory variable in the Fama-French three-factor model as well as Carhart four-factor model. For the empirical testing, we use three different sets of test portfolios used as the dependent variable in the in asset pricing regressions. The first portfolio set is the 4x4 sorts on the size and B/M ratio. The second portfolio set is the 4x4 sort on the size and sensitivity beta of change in IVIX. The third portfolio set is the 2x3x2 independent triple-sorting on size, B/M and sensitivity beta of change in IVIX. We find evidence that size, value and momentum factors continue to exist in Indian stock market. However, VIX index does not constitute a priced risk factor in the cross-section of returns. The inseparability of volatility and jump risk in the VIX is a possible explanation of the current findings in the study.

Keywords: India VIX, Fama-French model, Carhart four-factor model, asset pricing

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Authors: I. S. Gandhi, D. N. Patel, M. Johnson, A. R. Hirsch

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Although distortion of taste perception following a cerebrovascular event may seem to be a frivolous consequence of a classic stroke presentation, altered taste perception places patients at an increased risk for malnutrition, weight loss, and depression, all of which negatively impact the quality of life. Impaired taste perception can result from a wide variety of cerebrovascular lesions to various locations, including pons, insular cortices, and ventral posteromedial nucleus of the thalamus. Wallenberg syndrome, also known as a lateral medullary syndrome, has been described to impact taste; however, specific sweet to bitter taste dysgeusia from a territory infarction is an infrequent event; as such, a case is presented. One year prior to presentation, this 64-year-old right-handed woman, suffered a right posterior inferior cerebellar artery aneurysm rupture with resultant infarction, culminating in a ventriculoperitoneal shunt placement. One and half months after this event, she noticed the gradual onset of lack of ability to taste sweet, to eventually all sweet food tasting bitter. Since the onset of her chemosensory problems, the patient has lost 60-pounds. Upon gustatory testing, the patient's taste threshold showed ageusia to sucrose and hydrochloric acid, while normogeusia to sodium chloride, urea, and phenylthiocarbamide. The gustatory cortex is made in part by the right insular cortex as well as the right anterior operculum, which are primarily involved in the sensory taste modalities. In this model, sweet is localized in the posterior-most along with the rostral aspect of the right insular cortex, notably adjacent to the region responsible for bitter taste. The sweet to bitter dysgeusia in our patient suggests the presence of a lesion in this localization. Although the primary lesion in this patient was located in the right medulla of the brainstem, neurodegeneration in the rostal and posterior-most aspect, of the right insular cortex may have occurred due to diaschisis. Diaschisis has been described as neurophysiological changes that occur in remote regions to a focal brain lesion. Although hydrocephalus and vasospasm due to aneurysmal rupture may explain the distal foci of impairment, the gradual onset of dysgeusia is more indicative of diaschisis. The perception of sweet, now tasting bitter, suggests that in the absence of sweet taste reception, the intrinsic bitter taste of food is now being stimulated rather than sweet. In the evaluation and treatment of taste parageusia secondary to cerebrovascular injury, prophylactic neuroprotective measures may be worthwhile. Further investigation is warranted.

Keywords: diaschisis, dysgeusia, stroke, taste

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Authors: Kanokwan Somoon, Chumporn Moorapun

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A product’s perceived value may increase purchase intention. Value perceptions may differ among cultures. Window displays can be used to increase products’ information and value. This study aims to investigate the relationship between window display design elements and value perceptions of local products between two different cultures. The research methodology is based on survey research. Several window displays in favorite of tourist spots were selected as a unit of study. Also, 100 tourists (56 Thai tourists and 44 foreign tourists) were asked to complete a questionnaire. T-Tests were used to analyze the comparison. Then, the results were compared to Thai and foreign tourists. Finally, the results find that Thai and foreign tourists have different perception towards three design elements that are size of the window, props and colour lighting. The differences of their perceptions signify the different cultural values they adhere to.

Keywords: cross-culture, window display, Thai craft product, environmental perception

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Authors: Qiong Hu, Ming Yue

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Language variation signals the newest usage of language community, which might become the developmental trend of that language. The personal pronoun we is prescribed as a plural pronoun in grammar, but its number value is more flexible in actual use. Based on the homemade Friends corpus, the present research explores the number value of the first person pronoun we in nowadays American spoken English. With consideration of the subjectivity of we, this paper used ‘we+ PCU (Perception-cognation-utterance) verbs’ collocations and ‘we+ plural categories’ as the parameters. Results from corpus data and manual annotation show that: 1) the overall frequency of we has been increasing; 2) we has been increasingly used with other plural categories, indicating a weakening of its plural reference; and 3) we has been increasingly used with PCU (perception-cognition-utterance) verbs of strong subjectivity, indicating a strengthening of its singular reference. All these seem to support our hypothesis that we is undergoing the process of further grammaticalization towards a singular reference, though future evidence is needed to attest the bold prediction.

Keywords: number, PCU verbs, personal pronoun we,

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Authors: ShyamKrishna Kirithivasan, Shreyas Battula, Aditi Soori, Richa Ramesh, Ramamoorthy Srinath

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The human brain, among the most complex and mysterious aspects of the body, harbors vast potential for extensive exploration. Unraveling these enigmas, especially within neural perception and cognition, delves into the realm of neural decoding. Harnessing advancements in generative AI, particularly in Visual Computing, seeks to elucidate how the brain comprehends visual stimuli observed by humans. The paper endeavors to reconstruct human-perceived visual stimuli using Functional Magnetic Resonance Imaging (fMRI). This fMRI data is then processed through pre-trained deep-learning models to recreate the stimuli. Introducing a new architecture named LatentNeuroNet, the aim is to achieve the utmost semantic fidelity in stimuli reconstruction. The approach employs a Latent Diffusion Model (LDM) - Stable Diffusion v1.5, emphasizing semantic accuracy and generating superior quality outputs. This addresses the limitations of prior methods, such as GANs, known for poor semantic performance and inherent instability. Text conditioning within the LDM's denoising process is handled by extracting text from the brain's ventral visual cortex region. This extracted text undergoes processing through a Bootstrapping Language-Image Pre-training (BLIP) encoder before it is injected into the denoising process. In conclusion, a successful architecture is developed that reconstructs the visual stimuli perceived and finally, this research provides us with enough evidence to identify the most influential regions of the brain responsible for cognition and perception.

Keywords: BLIP, fMRI, latent diffusion model, neural perception.

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Authors: Anees Tahir

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Margin financing plays a significant role in Pakistan's stock market (PSX), offering investors the opportunity to maximize profits by borrowing funds from financiers to purchase marginable stocks. However, this financial practice raises several Shariah-related concerns. The study follows legal doctrinal research methodology. It explains and analyzes the law of margin financing prevailing in PSX and compares it with the principles of Shariah. It also examines and investigates the practices of margin financing from the perspective of Shariah. As part of the study, the researcher has conducted structured interviews with the Shariah advisors of the finance industry, academicians, market practitioners, and regulators. Thus, the study analyzes the findings of interviews. This article explores the legal framework and practice of margin financing in Pakistan from a Shariah perspective. The article investigates various issues relating to margin financing, including the fundamental concern of interest-based lending, which contravenes Islamic principles. It also highlights the problematic subject matter of margin financing, often involving non-Shariah compliant securities. Additionally, the article addresses the restriction on proprietary rights and the problematic element of speculation associated with margin financing. To provide a Shariah-compliant alternative, the Securities and Exchange Commission of Pakistan (SECP) introduced Murabahah Shares Financing (MSF) in 2019. However, the focus of the market is still on conventional margin financing. In the opinion of the researcher, the effective implementation of MSF is imperative because in the absence of such an alternative, the faith sensitive investor will remain deprived of a level playing field, and he is unable to get required financing opportunities through a halal and Shariah-compliant manner. This article argues that margin financing in its current form is incompatible with Shariah principles and should be discontinued. It is recommended that the SECP should gradually phase out the use of margin financing and increase reliance on MSF to provide faith-sensitive and committed investors with Shariah-compliant financing options.

Keywords: margin financing, marginable stocks, faith sensitive investor, Murabahah shares financing

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Authors: A. Bagherzadhalimi, E. Di Maria

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The feedbacks obtained regarding the sense of presence from pilot users operating a Mobile Robotic presence (MRP) system to visit a simulated museum are reported in this paper. The aim is to investigate how much the perception of system’s usefulness and ease of use is affected by operators’ sense of social telepresence (presence) in the remote location. Therefore, scenarios of visiting a museum are simulated and the user operators are supposed to perform some regular tasks inside the remote environment including interaction with local users, navigation and visiting the artworks. Participants were divided into two groups, those who had previous experience of operation and interaction with a MRP system and those who never had experience. Based on the results, both groups provided different feedbacks. Moreover, there was a significant association between user’s sense of presence and their perception of system usefulness and ease of use.

Keywords: mobile robotic telepresence, museum, social telepresence, usability test

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Authors: Fabio Marson, Revital Naor-Ziv, Patrizio Paoletti, Joseph Glicksohn, Filippo Carducci, Tal Dotan Ben-Soussan

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According to embodied cognition theories, higher-order cognitive functions and complex behaviors seems to be affected by bodily states. For example, the polyvagal theory suggests that the human autonomic nervous system evolved to support social interactions. Accordingly, integration and perception of information related to the physiological state arising from the peripherical nervous system (i.e., interoception) play a role in the regulation of social interaction by modulating emotional responses and prosocial behaviors. Moreover, recent studies showed that interoception is involved in the representations of conceptual knowledge, suggesting that the bodily information carried by the interoceptive system provides a perceptual basis for the embodiment of abstract concepts, especially those related to social and emotional domains. However, to the best of our knowledge, no studies explored the relationship between interoception, prosocial behaviors, and conceptual representations. Considering the privileged position of interoception in mediating higher-order cognition and social interaction, we designed a cross-cultural study to explore the relationship between interoception, the sensitivity of bodily functions, and empathy. We recruited Italian, English, and Hebrew participants, and we asked them to fill in a questionnaire about empathy (Empathy Quotient), a questionnaire about bodily perception (Body Perception Questionnaire), and to rate different concrete and abstract concepts for the extent such concepts can be experienced through vision, hearing, taste, smell, touch, and interoception. We observed that in all languages, interoception ratings for abstract concepts were greater than for concrete concepts. Importantly, interoception ratings for abstract concepts were positively correlated with empathy and sensitivity of bodily functions. Our results suggest that participants with higher empathy and sensitivity of bodily functions show also a greater embodiment of abstract concepts in interoception, providing further evidence for the importance of the interoceptive system in regulating prosocial behaviors and integrating conceptual representations.

Keywords: conceptual representations, embodiment, empathy, empathy quotient, interoception, prosocial behaviors

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Authors: Katarzyna Olejko

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The need to redefine the goals and adapt the operational activities carried out in accordance with the concept of sustainable management to these goals results in the increasing importance of information on the company's activities perceived from the perspective of the effectiveness and efficiency of environmental goals implementation. The narrow scope of reporting data on a company's impact on the environment is not adequate to meet the information needs of modern investors. Reporting obligations are therefore imposed on companies in order to increase the effectiveness of corporate governance and to improve the process of assessing the achievement of environmental goals. The non-financial reporting obligations introduced in Polish legislation increased the scope of reported information. However, the lack of detailed guidelines on the method of reporting resulted in a large diversification of the scope of non-financial information, making it impossible to compare the data presented by companies. The source of information regarding the level of the implementation of standards in Environmental, social and corporate governance (ESG) is the report on compliance with best practices published by the Warsaw Stock Exchange. The document Best Practices of Warsaw Stock Exchange (WSE) Listed Companies (2021), amended by the WSE in 2021, includes the rules applicable to this area (ESG). The aim of this article is to present the level of compliance with good practices in the area of ESG by selected companies listed on the Warsaw Stock Exchange The research carried out as part of this study, which was based on information from reports on the compliance with good practices of companies listed on the Warsaw Stock Exchange that was made available in the good practice scanner, have revealed that good practices in the ESG area are implemented by companies to a limited extent. The level of their application in comparison with other rules is definitely lower. The lack of experience and clear guidelines on ESG reporting may cause some confusion, which is why conscious investors and reporting companies themselves are pinning their hopes on the Corporate Sustainability Reporting Directive (CSRD) adopted by European Parliament.

Keywords: reporting, ESG, corporate governance, best practices

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Authors: Rafia Afroz

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This article examines the perceptions, consciousness and attitudes of farmers on climate change in Kedah Malaysia. To reach the objectives of this study, a survey was conducted on 350 farmers and the collected data were used to perform multiple regression analysis. The results show that factors such as age, farm income, farm experience, limited agricultural prevalence, inadequacies in credit availability and farm size are factors influencing adjustment practices. Moreover, farmers have a positive attitude through adaptation strategies that are appropriate for climate change issues. However, the study found that various adaptation barriers prevented farmers from implementing climate change adjustment policies. At present, Malaysia does not seem to have a specific policy aimed at counteracting the impacts and productivity of climate change on individual sectors. For this reason, the findings of this study will help policymakers to comply with an appropriate policy framework that takes into account the best fit alignment strategies that can come across all relevant obstacles.

Keywords: climate change, adaptation, awareness, perception, attitude

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Authors: Jingxian An, Wei Yu

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Australia and New Zealand are neighboring countries in the New World wine industry, and their Pinot Noir wines have gained both production and reputation in recent years, competing in the international market. Consumer perception is heavily influenced by wine expertise, which plays a significant role in shaping their perceptions. This study aims to investigate the effects of country of origin and wine expertise on consumer perceptions. The results indicate that consumers' perceptions of Pinot Noir wines' astringency, sourness, sweetness, clarity, and bitterness are impacted by both country of origin and wine expertise. Of the five sensory attributes, sourness was found to have a more significant influence on consumer perceptions, while clarity had a minimal impact. Additionally, the study found that the country of origin had a greater impact on consumer perceptions than wine expertise.

Keywords: Australia, country of origin, consumer perception, New Zealand, wine expertise

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Authors: Omer Farooq, Salman Ahmed Khan, Sadaf Khalid

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Modern day stock markets have almost entirely became automated. Even though it means increased profits for the investors by algorithms acting upon the slightest price change in order of microseconds, it also has given birth to many ethical dilemmas in the sense that slightest mistake can cause people to lose all of their livelihoods. This paper reviews one such event that happened on May 06, 2010 in which $1 trillion dollars disappeared from the Dow Jones Industrial Average. We are going to discuss its various aspects and the ethical dilemmas that have arisen due to it.

Keywords: flash crash, market crash, stock market, stock market crash

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Authors: Abhivardhan, Ritu Agarwal

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The role of entrepreneurial ethics is connected with materializing the core components of human life, and the flexible and gullible attributions dominate the materialization of human lifestyle and outreach in the age of the internet and globalization. One of the key bi-products of the age of information – Artificial Intelligence has become a relevant mechanism to materialize and understand human empathy and originality via various algorithmic policing methodologies with specific intricacies. Since it has a special connection with ethnocentrism – it has the potential to influence the approach of international law and politics owed to the rise of and approach towards perception and communication via populism in progressive and third world countries. The paper argues about the cultural persona of artificial intelligence, and its ontological resemblance in human life is connected with the ethnocentric treatment of cyberspace, with an analysis of the influence of the ethics of entrepreneurship in international politics. The paper further provides an analysis of fake news and misinformation as the sub-strata of communication strategies involving populism determined as a communication strategy and about the legal case of constitutional redemption in recent legislative developments in Europe, the U.S, and Asia with reference to certain important strategies, policy documentation, declarations, and legal instruments. The paper concludes that the capillaries of the anthropomorphic developments of cultural perception via towards artificial intelligence have a hidden and unstable connection with the common approach of entrepreneurial ethics, which influences populism to disrupt the peaceful order of international politics via some minor backlashes in the technological, legal and social realm of human life. Suggestions with the conclusion are hereby provided.

Keywords: ethnocentrism, perception politics, populism, international law, slacktivism, artificial intelligence ethics, enculturation

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Authors: Schulz Peter, Kee Kalya, Lwin May, Goh Wilson, Chia Kendrikck, Chueng Max, Lam Thomas, Sung Joseph

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As Artificial Intelligence (AI) is progressively making inroads into clinical practice, questions have arisen as to whether acceptance of AI is skewed toward certain medical practitioner segments, even within particular specializations. This study examines distinct AI acceptance among gastroenterologists with contrasting levels of seniority/experience when interacting with AI typologies. Data from 319 gastroenterologists show the presence of four distinct clusters of clinicians based on experience levels and perceived risk typologies. Analysis of cluster-based responses further revealed that acceptance of AI was not uniform. Our findings showed that clinician experience and risk perspective have an interactive role in influencing AI acceptance. Senior clinicians with low-risk perceptions were highly accepting of AI, but those with high-risk perceptions of AI were substantially less accepting. In contrast, junior clinicians were more inclined to embrace AI when they perceived high risk, yet they hesitated to adopt AI when the perceived risk was minimal.

Keywords: risk perception, acceptance, trust, medicine

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Authors: Antarjeeta Nayak, Jalandhar Pradhan, Ramakrishna Biswal

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Poverty is a complex phenomenon influenced by a large number of factors and which can be studied from many different perspectives. Most of the poverty assessments can be divided into three broad categories- construction of poverty profile (who the poor are), causes of poverty (why people are poor) and poverty alleviation strategies (what to do about poverty). In this regard, we need to know more about poverty, the factors that drive it and those that maintain it. Specifically, how people perceive and experience poverty will generate a body of knowledge that would enable government and poverty alleviation agencies to better target their interventions and understand the stigma associated with poverty. In the Indian context, the perceptions of the causes of poverty are particularly relevant because of the persistent higher percent of people below poverty line and wider economic-social inequalities despite the continuing decline of poverty in the present times. In this study we investigated the perceived attributions for poverty among youths (University students) in India. A questionnaire having 35 questions was administered to a sample of 200 University students (n=200). Findings showed that Indian youth were more inclined to attribute poverty to Structural factors; supporting system-blame hypothesis.

Keywords: poverty, perception of the causes of poverty, Indian youth, social sciences and humanities

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Authors: Shady Gamal Aziz Shehata

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Difficulty in defining construction quality arises due to perception based on the nature and requirements of the market, the different partners themselves and the results they want. Quantitative research was used in this constructivist research. A case-based study was conducted to assess the structures of positive attitudes and expectations in the context of quality improvement. A survey based on expert opinions was analyzed among construction organizations/companies operating in the construction industry in Pakistan. The financial strength, management structure and construction experience of the construction companies formed the basis of their selection. A good concept is visible at the project level and is seen as the most valuable part of the construction project. Each quality improvement technique was expected to increase the user's profits by improving the efficiency of the construction project. The Survey is useful for construction professionals to evaluate current construction concepts and expectations for the application of quality improvement techniques in construction projects.

Keywords: correlation analysis, lean construction tools, lean construction, logistic regression analysis, risk management, safety construction quality, expectation, improvement, perception

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Authors: Melvin Mothoa

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Small Micro and Medium Enterprises are very significant for the development of their market economies. They are the main creators of the new working places, and they present a vital core of the market economy in countries across the globe. Access to finance is identified as crucial for small, micro, and medium-sized enterprises for their growth and innovation. This paper is conceived to propose a perception-based SMME framework to aid in access to financial support. Furthermore, the study will address issues that impede SMMEs in South Africa from obtaining finance from financial institutions. The framework will be tested against data collected from 200 Small Micro & Medium Enterprises in the Gauteng province of South Africa. The study adopts a quantitative method, and the delivery of self-administered questionnaires to SMMEs will be the primary data collection tool. Structural equation modeling will be used to further analyse the data collected.

Keywords: finance, small business, growth, development

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Authors: Tchapo Tchaga Sophia, Cai Chun

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This study measures the efficiency level of corporate governance to improve the quality level of value relevance in the resolution of market value efficiency increase issues, transparency problems, risk frauds, agency problems, investors' confidence, and decision-making issues using IFRS and Corporate Governance Acts (CGA). The final sample of this study contains 3660 firms from ten countries' stock markets from 2010 to 2020. Based on the efficiency market theory and the positive accounting theory, this paper uses multiple econometrical methods (DID method, multivariate and univariate regression methods) and models (Ohlson model and compliance index model) regression to see the incidence results of corporate governance mechanisms on the value relevance level under the influence of IFRS and corporate governance regulations act framework in Africa's stock exchanges for non-financial firms. The results on value relevance show that the corporate governance system, strengthened by the adoption of IFRS and enforcement of new corporate governance regulations, produces better financial statement information when its compliance level is high. And that is both value-relevant and comparable to results in more developed markets. Similar positive and significant results were obtained when predicting future book value per share and earnings per share through the determination of stock price and stock return. The findings of this study have important implications for regulators, academics, investors, and other users regarding the effects of IFRS and the Corporate Governance Act (CGA) on the relationship between corporate governance and accounting information relevance in the African stock market. The contributions of this paper are also based on the uniqueness of the data used in this study. The unique data is from Africa, and not all existing findings provide evidence for Africa and of the DID method used to examine the relationship between corporate governance and value relevance on African stock exchanges.

Keywords: corporate governance value, market efficiency value, value relevance, African stock market, stock return-stock price

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Authors: R. Henry, J-B. Paulin, St. Fauchille, Ph. Delord, K. Benkirane, A. Brunel

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In this paper, the CVA computation of interest rate swap is presented based on its rating. Rating and probability default given by Moody’s Investors Service are used to calculate our CVA for a specific swap with different maturities. With this computation, the influence of rating variation can be shown on CVA. The application is made to the analysis of Greek CDS variation during the period of Greek crisis between 2008 and 2011. The main point is the determination of correlation between the fluctuation of Greek CDS cumulative value and the variation of swap CVA due to change of rating

Keywords: CDS, computation, CVA, Greek crisis, interest rate swap, maturity, rating, swap

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Authors: Nana Weng

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Localization in the aspect of human resource means more diversity and more opportunities. The main purpose of this article is to identify the perception of local employees and intermediate managers (non-Japanese) and figure out exploratory factors which have been contributing and blocking the level of localization in the aspect of human resource management by using EFA (Exploratory Factors Analysis). Questionnaires will be designed for local employees and managers to inquire about the perceptions of regulations and implementation regarding recruitment, training and development, promotion and rewarding. The study finds that Japanese firms have worked well in the process of localization, especially in hiring and training local staffs in Taiwan. The significance of this study lies in paying more attention to the perception of local employees and intermediate managers regarding localization rather than interviews results from Japanese expatriates or top HR managers who are in charging of localization policy-making.

Keywords: Japanese firms in Taiwan, localization of human resources, exploratory factors analysis, local employees and intermediate managers

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Authors: Gracia V. Navarro, María C. González, María G. González, María V. González

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In Chile, since 2002, there are extracurricular enrichment programs complementary to regular education for students with high intellectual capacity. This paper describes a model for the educational inclusion of students, with special educational needs associated with high intellectual capacity, developed at the University of Concepción and its effects on its students, academics and undergraduate students that collaborate with the program. The Talentos UdeC Program was created in 2003 and is intended for 240 children and youth from 11 to 18 years old, from 15 communes of the Biobio region. The case Talentos UdeC is analyzed from a mixed qualitative study in which those participating in the educational model are considered. The sample was composed of 30 students, 30 academics, and 30 undergraduate students. In the case of students, pre and post program measurements were made to analyze their socio-emotional adaptation, academic motivation and socially responsible behavior. The mentioned variables are measured through questionnaires designed and validated by the University of Concepcion that included: The Socially Responsible Behavior Questionnaire (CCSR); the Academic Motivation Questionnaire (CMA) and the Socio-Emotional Adaptation Questionnaire (CASE). The information obtained by these questionnaires was analyzed through a quantitative analysis. Academics and undergraduate students were interviewed to learn their perception of the effects of the program on themselves, on students and on society. The information obtained is analyzed using qualitative analysis based on the identification of common themes and descriptors for the construction of conceptual categories of answers. Quantitative results show differences in the first three variables analyzed in the students, after their participation for two years in Talentos UdeC. Qualitative results demonstrate perception of effects in the vision of world, project of life and in other areas of the students’ development; perception of effects in a personal, professional and organizational plane by academics and a perception of effects in their personal-social development and training in generic competencies by undergraduates students.

Keywords: educational model, high intellectual capacity, inclusion, special educational needs

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Authors: Hsuan Yu Lai, Hsuan Hsuan Chang

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The consumer decision process steps through problems by weighing evidence, examining alternatives, and choosing a decision path. Currently, the COVID 19 made the tourism industry encounter a huge challenge and suffer the biggest amount of economic loss. It would be very important to reexamine the decision-making process model, especially after the pandemic, and consider the differences among different generations. The tourism industry has been significantly impacted by the global outbreak of COVID-19, but as the pandemic subsides, the sector is recovering. This study addresses the scarcity of research on travel decision-making patterns among generations in Taiwan. Specifically targeting individuals who frequently traveled abroad before the pandemic, the study explores differences in decision-making at different stages post-outbreak. So this study investigates differences in travel decision-making among individuals from different generations during/after the COVID-19 pandemic and examines the moderating effects of social media usage and individuals' perception of health risks. The study hypotheses are “there are significant differences in the decision-making process including travel motivation, information searching preferences, and criteria for decision-making” and that social-media usage and health-risk perception would moderate the results of the previous study hypothesis. The X, Y, and Z generations are defined and categorized based on a literature review. The survey collected data including their social-economic background, travel behaviors, motivations, considerations for destinations, travel information searching preferences, and decision-making criteria before/after the pandemic based on the reviews of previous studies. Data from 656 online questionnaires were collected between January to May 2023 and from Taiwanese travel consumers who used to travel at least one time abroad before Covid-19. SPSS is used to analyze the data with One-Way ANOVA and Two-Way ANOVA. The analysis includes demand perception, information gathering, alternative comparison, purchase behavior, and post-travel experience sharing. Social media influence and perception of health risks are examined as moderating factors. The findings show that before the pandemic, the Y Generation preferred natural environments, while the X Generation favored historical and cultural sites compared to the Z Generation. However, after the outbreak, the Z Generation displayed a significant preference for entertainment activities. This study contributes to understanding changes in travel decision-making patterns following COVID-19 and the influence of social media and health risks. The findings have practical implications for the tourism industry.

Keywords: consumer decision-making, generation study, health risk perception, post-pandemic era, social media

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Authors: Dariusz Jemielniak

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The near future will bring significant changes to contemporary organizations and management, because of the rapidly increasing role of immaterial goods and knowledge workers. The area of copyright, IP, as well as digital (non-material) goods and media redistribution seems to be one of the major challenges for the economy and society in general, and management and organization studies in particular. The proposed paper shows the views and perceptions of fairness of digital media sharing among Harvard Law School LL.M. students, basing on 50 qualitative interviews and 100 questionnaires. The researcher took an ethnographic approach to the study and joined the 2016 Harvard LL.M. Facebook group, which allowed natural socializing and joining for in-person events and private parties more easily. After making acquaintance with many of the students, the researcher conducted a quantitative questionnaire with 100 respondents, allowing to better understand the respondents perception of fairness in digital files sharing in different contexts (depending on the price of the media, its availability, regional licensing, status of the copyright holder, etc.). Basing on the results of the questionnaire, the researcher followed up with long-term, open ended, loosely structured ethnographic interviews (50 interviews were conducted) to further deepen the understanding of the results. The major finding of the study is that Harvard lawyers, in spite of the highest possible understanding of law, as well as professional standards, generally approve of digital piracy in certain contexts. Interestingly, they are also more likely to approve of it if they work for the government rather than the private sector. The conclusions from this study allow a better understanding of how ‘fairness’ is perceived by the younger generation of law professionals, and also open grounds for a more rational licensing policing.

Keywords: piracy, digital sharing, perception of fairness, legal profession

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Authors: Oussedik Lydia, Zaouani-Denoux Souâd

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In an economic context characterized by intense competition and the impact of new technologies, companies have a constant need to adapt to the environment and the changes imposed. This situation leads companies to take training actions to develop employees’ required skills. Further, training is considered as a strategic lever for the company's growth. Accordingly, an increasing number of companies are adopting training to ensure continuous employees qualification. Thus, the aim of this research is to understand the process of training engineering occurring in the context of a company's continuous training, which will help to identify the gaps that can hinder or promote the development of employees' knowledge and skills. The research methodology is based on a mixed-method approach. Interviews and questionnaires are implemented to collect qualitative and quantitative data. The study results can help managers to identify gaps at each stage of training design. Finally, the research findings provide important information to help design a training plan to support the development of employees' knowledge and performance.

Keywords: training engineering, training needs, training plan, competences, continuing training, perception

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Authors: Arif Sikander, Imran Saeed

Abstract:

The behavioral pattern and performance of airline pilots are influenced by the level of stress, their ethical decision-making ability and above all their leadership style as part of the Crew Management process. Cultural differences of pilots, especially while working in ex-country airlines, could influence the stress perception. Culture also influences ethical decision making. Leadership style is also a variable dimension, and pilots need to adapt to the cultural settings while flying with the local pilots as part of their team. Studies have found that age, education, gender, and management experience are statistically significant factors in ethical maturity. However, in the decades to come, more studies are required to validate the results over and over again; thereby, providing support for the validity of the Moral Development Theory. Leadership style plays a vital role in ethical decision making. This study is grounded in the Moral Development theory and seeks to analyze the styles of leadership of airline pilots related to ethical decision making and also the influence of the culture on their stress perception. The sample for the study included commercial pilots from a National Airline. It is expected that these results should provide useful input to the literature in the context of developing appropriate Talent Management strategies. The authors intend to extend this study (carried out in one country) to major national carriers (many countries) to be able to develop a ultimate framework on Talent Management which should serve as a benchmark for any international airline as most of them (e.g., Emirates, Etihad, Cathay Pacific, China Southern, etc.) are dependent on the supply of this scarce resource from outside countries.

Keywords: ethics, leadership, pilot, stress

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Authors: Marcelo T. Okano, Jaqueline C. Bueno, Oduvaldo Vendrametto, Osmildo S. Santos, Marcelo E. Fernandes, Heide Landi

Abstract:

Developing countries are increasingly finding that entrepreneurship and innovation are the ways to speed up their developments and initiate or encourage technological development. The educational institutions such as universities, colleges and colleges of technology, has two main roles in this process, to guide and train entrepreneurs and provide technological knowledge and encourage innovation. Thus there was completing the triple helix model of innovation with universities, government and industry. But the teaching of entrepreneurship and innovation can not be only the traditional model, with blackboard, chalk and classroom. The new methods and methodologies such as Canvas, elevator pitching, design thinking, etc. require students to get involved and to experience the simulations of business, expressing their ideas and discussing them. The objective of this research project is to identify the main methods and methodologies used for the teaching of entrepreneurship and innovation, to propose a framework, test it and make a case study. To achieve the objective of this research, firstly was a survey of the literature on the entrepreneurship and innovation, business modeling, business planning, Canvas business model, design thinking and other subjects about the themes. Secondly, we developed the framework for teaching entrepreneurship and innovation based on bibliographic research. Thirdly, we tested the framework in a higher education class IT management for a semester. Finally, we detail the results in the case study in a course of IT management. As important results we improve the level of understanding and business administration students, allowing them to manage own affairs. Methods such as canvas and business plan helped students to plan and shape the ideas and business. Pitching for entrepreneurs and investors in the market brought a reality for students. The prototype allowed the company groups develop their projects. The proposed framework allows entrepreneurship education and innovation can leave the classroom, bring the reality of business roundtables to university relying on investors and real entrepreneurs.

Keywords: entrepreneurship, innovation, Canvas, traditional model

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Authors: Aishat Abdul-Qadir Zubair

Abstract:

Background: The absence of Shari’ah screening methodology for companies in Nigeria has further engineered the uncertainty surrounding the acceptability of investing in certain companies by people professing the religion of Islam due to the nature of the activities carried out by these companies. There are some existing shariah screening indices in other jurisdictions whose criteria can be used to check if a company or business is shariah-compliant or not. Examples such as FTSE, DJIM, Standard and Poor to mention just a few. What these indices have tried to do is to ensure that there are benchmarks to check with before investing in companies that carry out mixed activities in their business, wherein some are halal and others may be haram. Purpose: There have been numerous studies on the need to adopt certain screening methodologies as well as call for new methods in screening companies for shariah compliance in order to suit the investments needs of Muslims in other jurisdictions. It is, however, unclear how suitable these methodologies will be to Nigeria. This paper, therefore, seeks to address this gap to consider an appropriate screening methodology to be employed in Nigeria, drawing from the experience of other jurisdictions. Methods: This study employs a triangulation of both quantitative and qualitative methods to analyze the need for Shari’ah screening of companies in Nigeria. The qualitative method is used by way of ijtihad, and this study tries to apply some Islamic Principles of Maqasid al-shari’ah as well as Qawaid al-Fiqiyyah to analyze activities of companies in order to ensure that they are indeed Shari’ah compliant. In addition, using the quantitative data gathered from the interview survey, the perspective of the investors with regards to the need for Shari’ah screening of companies in Nigeria is further analyzed. Results: The result of the study shows that there is a lack of awareness from the teeming Muslim population in Nigeria on the need for Shari’ah screening of companies in Nigeria. The result further shows that there is the need to take into cognizance the peculiar nature of company activities in Nigeria before any particular Shari’ah screening methodology is adopted and setting the necessary benchmarks. Conclusion and Implications: The study concludes that there is the need to ensure that the conscious Muslims in Nigeria screen companies for Shari’ah compliance so that they can easily identify the companies to invest in. The paper, therefore, recommends that the Nigerian government need to come up with a screening methodology that will suit the peculiar nature of companies in Nigeria. The study thus has a direct implication on the Investment regulatory bodies in Nigeria such as the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN) as well as the investor Muslims.

Keywords: Shari'ah screening, Muslims, investors, companies

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Authors: P. Renjitha, P. Hari Prakash

Abstract:

Auditory neuropathy spectrum disorder (ANSD) is an auditory disorder with normal cochlear outer hair cell function and disrupted auditory nerve function. It results in unique clinical characteristic with absent auditory brainstem response (ABR), absent acoustic reflex and the presence of otoacoustic emissions (OAE) and cochlear microphonics. The lesion site could be at cochlear inner hair cells, the synapse between the inner hair cells and type I auditory nerve fibers, and/or the auditory nerve itself. But the literatures on synchrony at higher auditory system are sporadic and are less understood. It might be interesting to see if there is a recovery of neural synchrony at higher auditory centers. Also, does the level at which the auditory system recovers with adequate synchrony to the extent of observable evoke response potentials (ERPs) can predict speech perception? In the current study, eight ANSD participants and healthy controls underwent detailed audiological assessment including ABR, auditory middle latency response (AMLR), and auditory late latency response (ALLR). AMLR was recorded for clicks and ALLR was evoked using 500Hz and 2 kHz tone bursts. Analysis revealed that the participant could be categorized into three groups. Group I (2/8) where ALLR was present only for 2kHz tone burst. Group II (4/8), where AMLR was absent and ALLR was seen for both the stimuli. Group III (2/8) consisted individuals with identifiable AMLR and ALLR for all the stimuli. The highest speech identification sore observed in ANSD group was 30% and hence considered having poor speech perception. Overall test result indicates that the site of neural synchrony recovery could be varying across individuals with ANSD. Some individuals show recovery of neural synchrony at the thalamocortical level while others show the same only at the cortical level. Within ALLR itself there could be variation across stimuli again could be related to neural synchrony. Nevertheless, none of these patterns could possible explain the speech perception ability of the individuals. Hence, it could be concluded that neural synchrony as measured by evoked potentials could not be a good clinical predictor speech perception.

Keywords: auditory late latency response, auditory middle latency response, auditory neuropathy spectrum disorder, correlation with speech identification score

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