Search results for: traditional financial systems

Authors: Bruce Wrightsman

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Construction and design are inexorably linked. Traditional building methodologies, including those using wood, comprise a series of material layers differentiated and separated from each other. This results in the separation of two agencies of building envelope (skin) separate from the structure. However, from a material performance position reliant on additional materials, this is not an efficient strategy for the building. The merits of traditional platform framing are well known. However, its enormous effectiveness within wood-framed construction has seldom led to serious questioning and challenges in defining what it means to build. There are several downsides of using this method, which is less widely discussed. The first and perhaps biggest downside is waste. Second, its reliance on wood assemblies forming walls, floors and roofs conventionally nailed together through simple plate surfaces is structurally inefficient. It requires additional material through plates, blocking, nailers, etc., for stability that only adds to the material waste. In contrast, when we look back at the history of wood construction in airplane and boat manufacturing industries, we will see a significant transformation in the relationship of structure with skin. The history of boat construction transformed from indigenous wood practices of birch bark canoes to copper sheathing over wood to improve performance in the late 18th century and the evolution of merged assemblies that drives the industry today. In 1911, Swiss engineer Emile Ruchonnet designed the first wood monocoque structure for an airplane called the Cigare. The wing and tail assemblies consisted of thin, lightweight, and often fabric skin stretched tightly over a wood frame. This stressed skin has evolved into semi-monocoque construction, in which the skin merges with structural fins that take additional forces. It provides even greater strength with less material. The monocoque, which translates to ‘mono or single shell,’ is a structural system that supports loads and transfers them through an external enclosure system. They have largely existed outside the domain of architecture. However, this uniting of divergent systems has been demonstrated to be lighter, utilizing less material than traditional wood building practices. This paper will examine the role monocoque systems have played in the history of wood construction through lineage of boat and airplane building industries and its design potential for wood building systems in architecture through a case-study examination of a unique wood construction approach. The innovative approach uses a wood monocoque system comprised of interlocking small wood members to create thin shell assemblies for the walls, roof and floor, increasing structural efficiency and wasting less than 2% of the wood. The goal of the analysis is to expand the work of practice and the academy in order to foster deeper, more honest discourse regarding the limitations and impact of traditional wood framing.

Keywords: wood building systems, material histories, monocoque systems, construction waste

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Authors: Karim Monir Halim Salib

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The article discusses the use of modern technology to achieve environmental marketing goals in business and customer relations. The purpose of this article is to show the possibilities of the application of modern technology. In B2C relationships, marketing departments face challenges arising from the need to quickly segment customers and share information across multiple systems, which seriously hinders the achievement of marketing objectives. Therefore, the Article states that modern IT solutions are used in the marketing of business activities, taking into account environmental objectives. For this reason, its importance in the economic and social development of developing countries has increased. While traditional companies emphasize profit as the most important business principle, social enterprises have to address social issues at the expense of profit. This mindset gives social enterprises more than traditional businesses to meet the needs of those at the bottom of the pyramid. This also poses a great challenge for social business, as social business works for the public good on the one hand and financial stability on the other. Otherwise, the company cannot be evacuated. Cultures are involved in business communication and research. Using the example of language in international relations, the article poses the problem of cultural discourse in management and linguistic and cultural studies. After reviewing current research on language in international relations, this article presents communication methods in the international economy from a linguistic perspective and attempts to explain communication problems in business from the perspective of linguistic research. A step towards multidisciplinary research combining research in management and linguistics.

Keywords: international marketing, marketing mix, marketing research, small and medium-sized enterprises, strategic marketing, B2B digital marketing strategy, digital marketing, digital marketing maturity model, SWOT analysis consumer behavior, experience, experience marketing, marketing employee organizational performance, internal marketing, internal customer, direct marketing, mobile phones mobile marketing, Sms advertising.

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Authors: Elmongi Elbellili, Ben Lauwens, Daan Huybrechs

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The increasing complexity of modern engineering systems presents a challenge to the digital simulation of these systems which usually can be represented by differential equations. The Linearly Implicit Quantized State System (LIQSS) offers an alternative approach to traditional numerical integration techniques for solving Ordinary Differential Equations (ODEs). This method proved effective for handling discontinuous and large stiff systems. However, the inherent discrete nature of LIQSS may introduce oscillations that result in unnecessary computational steps. The current oscillation detection mechanism relies on a condition that checks the significance of the derivatives, but it could be further improved. This paper describes a different cycle detection mechanism and presents the outcomes using LIQSS order one in simulating the Advection Diffusion problem. The efficiency of this new cycle detection mechanism is verified by comparing the performance of the current solver against the new version as well as a reference solution using a Runge-Kutta method of order14.

Keywords: numerical integration, quantized state systems, ordinary differential equations, stiffness, cycle detection, simulation

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Authors: Jerome Joshi

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The paper presents the modelling of financial markets using the Stochastic Pi Calculus model. The Stochastic Pi Calculus model is mainly used for biological applications; however, the feature of this model promotes its use in financial markets, more prominently in high frequency trading. The trading system can be broadly classified into exchange, market makers or intermediary traders and fundamental traders. The exchange is where the action of the trade is executed, and the two types of traders act as market participants in the exchange. High frequency trading, with its complex networks and numerous market participants (intermediary and fundamental traders) poses a difficulty while modelling. It involves the participants to seek the advantage of complex trading algorithms and high execution speeds to carry out large volumes of trades. To earn profits from each trade, the trader must be at the top of the order book quite frequently by executing or processing multiple trades simultaneously. This would require highly automated systems as well as the right sentiment to outperform other traders. However, always being at the top of the book is also not best for the trader, since it was the reason for the outbreak of the ‘Hot – Potato Effect,’ which in turn demands for a better and more efficient model. The characteristics of the model should be such that it should be flexible and have diverse applications. Therefore, a model which has its application in a similar field characterized by such difficulty should be chosen. It should also be flexible in its simulation so that it can be further extended and adapted for future research as well as be equipped with certain tools so that it can be perfectly used in the field of finance. In this case, the Stochastic Pi Calculus model seems to be an ideal fit for financial applications, owing to its expertise in the field of biology. It is an extension of the original Pi Calculus model and acts as a solution and an alternative to the previously flawed algorithm, provided the application of this model is further extended. This model would focus on solving the problem which led to the ‘Flash Crash’ which is the ‘Hot –Potato Effect.’ The model consists of small sub-systems, which can be integrated to form a large system. It is designed in way such that the behavior of ‘noise traders’ is considered as a random process or noise in the system. While modelling, to get a better understanding of the problem, a broader picture is taken into consideration with the trader, the system, and the market participants. The paper goes on to explain trading in exchanges, types of traders, high frequency trading, ‘Flash Crash,’ ‘Hot-Potato Effect,’ evaluation of orders and time delay in further detail. For the future, there is a need to focus on the calibration of the module so that they would interact perfectly with other modules. This model, with its application extended, would provide a basis for researchers for further research in the field of finance and computing.

Keywords: concurrent computing, high frequency trading, financial markets, stochastic pi calculus

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Authors: Adel Fatima Zohra, Guendouz Abdelkader

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The solitary sector seems to appear nowadays as a third sector along the private and public ones, because of their ineptitude to take in charge the social exigency of the society regarding the lack in their local assets and the weakness of their financial institutions. The role of this sector is promoting a set of activities in the field of the charity, without aiming neither the individual profit nor a power practice. With the rise in the need of domestic resources, it is possible to count on the Zakat funding to realize some investment projects in order to develop the local society in many sectors as health, agriculture … etc. In the Islamic financial system, the Zakat is likely one of the most important instruments in financing the local development with the respect of the “Charia” rules: the amount of the Zakat is 2.5% of a wealth equivalent of each 85 gr of gold possessed since one year at least. In Algeria a fund of Zakat, was created since 2003 as an alternative to the public finding of development. This fund is a religious and social institution under the supervision of the ministry of religious affairs. This supervision covers two tasks: the first is traditional witch concern the distribution and the forwarding of the zakat to the poor people, and the second is modern concerning the financing of microcredits in the aim to enhance social and economic development. In this paper, we try to highlight the main role of the Zakat fund and its impact on the both social and economic development in Algeria.

Keywords: dogmatic instrument, solidary sector, zakat fund, micro project

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Authors: Parvaneh Ziviyar, Simin Armaghan

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Traditional house in Rasht contains monuments and heritage of ancestors who once lived in these houses. These houses represent the customs, culture and lifestyle of the people of Rasht and bridge the gap between modern people and their past that is being forgotten. Maintenance of the buildings and architectural heritage together with their unique architecture and climatic related construction has an important role in tourism attraction and sustainable development. The purpose of this study was to develop a new definition of vacation shacks that is different with the definition of Cultural Heritage Organization. The place to stay and visit that is rebuilt or renovated based on traditional architectural style of Rasht and yet provides modern amenities so that it would not undermine indigenous traditional sense of the house. Data collection for this study is based on review of literature and field study. Results and the statistics of this study will prove that the research hypothesis is supported and there is a correlation between traditional houses of Rasht, as tourism–accommodation place and tourist attraction. It also indicates the capability and potential of these ancient monuments in the introduction of the culture of this land, and calling people and many tourists come to visit and stay in such places.

Keywords: architecture, traditional houses, vacation shacks, tourism

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Authors: F. Halladj, H. Amellal, S. Benamara

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Current consumer trends go towards natural products defined as the products obtained by a traditional manufacturing method. Vinegar is one of those products marketed; it may be industrially obtained by a submerged (fast) or traditional (slow) processes. The latter exhibited a high quality because of its complex microbiological transformations (or two-stage fermentation) by the native must flora. Moreover, although that Acetic acid bacteria have traditionally been considered to play the leading role in vinegar production, some studies have recently highlighted that also yeasts metabolism can affect traditional vinegar chemical properties in a remarkable way. Thus, the aim of this study was to monitor a traditional slow process of vinegar as applied in the south of Algeria using date with hard texture (Degla-Beida variety) to isolate and identify the involved yeasts in order to select them as starter culture. Phenotypic and molecular analysis show that the non-Saccharomyces were the main yeasts species isolated throughout the alcoholic spontaneous fermentation and they included Hanseniaspora guilliermondii and Torulaspora delbrueckii.

Keywords: date vinegar, traditional production, yeasts, Phenotypic, Algeria

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Authors: Gulnara Moldasheva

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The research explores the relationship between management responsibility and corporate governance of listed companies in Kazakhstan. This research employs firm level data of randomly selected listed non-financial firms and firm level data “operational” financial sector, consisted from banking sector, insurance companies and accumulated pension funds using multivariate regression analysis under fixed effect model approach. Ownership structure includes institutional ownership, managerial ownership and private investor’s ownership. Management responsibility of the firm is expressed by the decision of the firm on amount of leverage. Results of the cross sectional panel study for non-financial firms showed that only institutional shareholding is significantly negatively correlated with debt to equity ratio. Findings from “operational” financial sector show that leverage is significantly affected only by the CEO/Chair duality and the size of financial institutions, and insignificantly affected by ownership structure. Also, the findings show, that there is a significant negative relationship between profitability and the debt to equity ratio for non-financial firms, which is consistent with pecking order theory. Generally, the found results suggest that corporate governance and a management responsibility play important role in corporate performance of listed firms in Kazakhstan.

Keywords: ownership, corporate governance, debt to equity ratio, corporate performance

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Authors: Taufik Hidayah

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Wayang is a traditional puppet show originated from Java. This traditional art is characterized by distinctive Hinduism influence. Wayang reflects the social life of the Javanese society. It contains Javanese philosophy, myths, magical stories, and religion, as well as educational media and transmission for noble values of Javanese society conveyed through the story. Nowadays, the performance of wayang has faced a new challenge to maintain its existence in the public life of Javanese society. Modernity has penetrated into every shape of culture. Many people consider traditional culture as old fashioned, particularly the young generation. That is one of the reasons why many people have left traditional culture. For maintaining the existence of wayang, a new art called ‘wayang hip hop’ has arisen. Wayang hip hop seeks to modify wayang show into a more modern form, but without removing any principles and main functions of wayang art. This article will discuss theoretically the changes and traditional continuity in wayang hip hop based on a literature review and qualitative approaches. Wayang hip hop uses hip-hop music as the background music in the show. It will discuss about the impact that comes with the existential strengthening of wayang hip hop especially among the Javanese society and discuss the opportunities that arise regarding the function of wayang hip-hop as a medium of education, social criticism, and cultural revitalization of the Javanese society.

Keywords: cultural revitalization, social criticism, education, continuity and change

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Authors: Javaid Ahmad Dar, Mohammad Asif

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The present study investigates the long-run impact of financial development, energy consumption and economic growth on greenhouse gas emissions for India, in presence of endogenous structural breaks, over a period of 1971-2013. Autoregressive distributed lag bounds testing procedure and Hatemi-J threshold cointegration technique have been used to test the variables for cointegration. ARDL bounds test did not confirm any cointegrating relationship between the variables. The threshold cointegration test establishes the presence of long-run impact of financial development, energy use and economic growth on greenhouse gas emissions in India. The results reveal that the long-run relationship between the variables has witnessed two regime shifts, in 1978 and 2002. The empirical evidence shows that financial sector development and energy consumption in India degrade environment. Unlike previous studies, this paper finds no statistical evidence of long-run relationship between economic growth and environmental deterioration. The study also challenges the existence of environmental Kuznets curve in India.

Keywords: cointegration, financial development, global warming, greenhouse gas emissions, regime shift, unit root

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Authors: Shehu Usman Hassan

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Published accounting information in financial statements are required to provide various users - shareholders, employees, suppliers, creditors, financial analysts, stockbrokers and government agencies – with timely and reliable information useful for making prudent, effective and efficient decisions. The widespread failure in the financial information quality has created the need to improve the financial information quality and to strengthen the control of managers by setting up good firms structures. This paper investigates firm attributes from perspective of structure, monitoring, performance elements of listed deposit money banks in Nigeria. The study adopted correlational research design with balanced panel data of 14 banks as sample of the study using multiple regression as a tool of analysis. The result reveals that firms attributes (leverage, profitability, liquidity, bank size and bank growth) has as significant influence on earnings quality of listed deposit money banks in Nigeria after the adoption of IFRS, while the pre period shows that the selected firm attributes has no significant impact on earnings quality. It is therefore concluded that the adoption of IFRS is right and timely.

Keywords: earnings quality, firm attributes, listed deposit money bank, Nigeria

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Authors: Nikki Berrange, Gizelle Willows

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Business rescue has become increasingly popular since its inclusion in the Companies Act of South Africa in May 2011. The Alternate Exchange (AltX) of the Johannesburg Stock Exchange has experienced a marked increase in the number of companies entering business rescue. This study sampled twenty companies listed on the AltX to determine whether Altman’s Z-score model for emerging markets (ZEM) or Taffler’s Z-score model is a more accurate model in predicting financial distress for small to medium size companies in South Africa. The study was performed over three different time horizons; one, two and three years prior to the event of financial distress, in order to determine how many companies each model predicted would be unlikely to succeed as well as the predictive ability and accuracy of the respective models. The study found that Taffler’s Z-score model had a greater ability at predicting financial distress from all three-time horizons.

Keywords: Altman’s ZEM-score, Altman’s Z-score, AltX, business rescue, Taffler’s Z-score

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Authors: Adebiyi Sunday Adeyanju, Kola Benson Ajeigbe, Fortune Ganda

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In the past three decades, there has been a notable increase in the number of firms delisting from the Johannesburg Stock Exchange (JSE) in South Africa. The recent increasing rate of delisting waves of corporate listed firms motivated this study. This study aims to explore the influence of institutional investor perceptions on the financial distress experienced by delisted firms within the South African market. The study further examined the impact of financial distress on the corporate performance of delisted firms. Using the data of delisted firms spanning from 2000 to 2023 and the FGLS (Feasible Generalized Least Squares) for the short run and PCSE (Panel-Corrected Standard Errors) for the long run effects of the relationship. The finding indicated that a decline in institutional investors’ perceptions was associated with the corporate financial distress of the delisted firms, particularly during the delisting year and the few years preceding the announcement of the delisting. This study addressed the importance of investor recognition in corporate financial distress and the delisting wave among listed firms- a finding supporting the stakeholder theory. This study is an insight for companies’ managements, investors, governments, policymakers, stockbrokers, lending institutions, bankers, the stock market, and other stakeholders in their various decision-making endeavours. Based on the above findings, it was recommended that corporate managements should improve their governance strategies that can help companies’ financial performances. Accountability and transparency through governance must also be improved upon with government support through the introduction of policies and strategies and enabling an easy environment that can help companies perform better.

Keywords: delisting wave, institutional investors, financial distress, corporate performance, investors’ perceptions

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Authors: Tomola Obamuyi

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The banking system in Nigeria adopted innovative banking, with the aim of enhancing financial inclusion, and making financial services readily and cheaply available to majority of the people, and to contribute to the efficiency of the financial system. Some of the innovative services include: Automatic Teller Machines (ATMs), National Electronic Fund Transfer (NEFT), Point of Sale (PoS), internet (Web) banking, Mobile Money payment (MMO), Real-Time Gross Settlement (RTGS), agent banking, among others. The introduction of these payment systems is expected to increase bank efficiency and customers' satisfaction, culminating in better performance for the commercial banks. However, opinions differ on the possible effects of the various innovative payment systems on the performance of commercial banks in the country. Thus, this study empirically determines how commercial banks use innovation to gain competitive advantage in the specific context of Nigeria's finance and business. The study also analyses the effects of financial innovation on the performance of commercial banks, when different periods of analysis are considered. The study employed secondary data from 2009 to 2018, the period that witnessed aggressive innovation in the financial sector of the country. The Vector Autoregression (VAR) estimation technique forecasts the relative variance of each random innovation to the variables in the VAR, examine the effect of standard deviation shock to one of the innovations on current and future values of the impulse response and determine the causal relationship between the variables (VAR granger causality test). The study also employed the Multi-Criteria Decision Making (MCDM) to rank the innovations and the performance criteria of Return on Assets (ROA) and Return on Equity (ROE). The entropy method of MCDM was used to determine which of the performance criteria better reflect the contributions of the various innovations in the banking sector. On the other hand, the Range of Values (ROV) method was used to rank the contributions of the seven innovations to performance. The analysis was done based on medium term (five years) and long run (ten years) of innovations in the sector. The impulse response function derived from the VAR system indicated that the response of ROA to the values of cheques transaction, values of NEFT transactions, values of POS transactions was positive and significant in the periods of analysis. The paper also confirmed with entropy and range of value that, in the long run, both the CHEQUE and MMO performed best while NEFT was next in performance. The paper concluded that commercial banks would enhance their performance by continuously improving on the services provided through Cheques, National Electronic Fund Transfer and Point of Sale since these instruments have long run effects on their performance. This will increase the confidence of the populace and encourage more usage/patronage of these services. The banking sector will in turn experience better performance which will improve the economy of the country. Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression,

Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression

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Authors: Mai Anh Pham Ho

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Scarf products today is a symbol of fashion to decorate, to make our life more beautiful and bring new features to our living space. It also shows the cultural identity by using the traditional patterns that make easily to introduce the image of Vietnam to other nations all over the world. Therefore, the purpose of this research is to classify Vietnamese traditional patterns according to the era and dynasties. Vietnamese traditional patterns through the dynasties of Vietnamese history are done and classified by five groups of patterns including the geometric patterns, the natural patterns, the animal patterns, the floral patterns, and the character patterns in the Prehistoric times, the Bronze and Iron age, the Chinese domination, the Ngo-Dinh-TienLe-Ly-Tran-Ho dynasty, and the LeSo-Mac-LeTrinh-TaySon-Nguyen dynasty. Besides, there are some special kinds of Vietnamese traditional patterns like buffalo, lotus, bronze-drum, Phuc Loc Tho character, and so on. Extensive research was conducted for modernizing scarf collection applied Vietnamese traditional patterns which the fashion trend is used on creating works. The concept, target, image map, lifestyle map, motif, colours, arrangement and completion of patterns on scarf were set up. The scarf collection is designed and developed by the Adobe Illustrator program with three colour ways for each scarf. Upon completion of the research, digital printing technology is chosen for using on scarf collection which Vietnamese traditional patterns were researched deeply and widely with the purpose of establishment the basic background for Vietnamese culture in order to identify Vietnamese national personality as well as establish and preserve the cultural heritage.

Keywords: scarf collection, Vietnamese traditional patterns, printing methods, fabric design

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Authors: Ilhan Keskin, Hasan Bulent Kantarci

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In this study, one of the tools of Islamic financing known as “Sukuk” a non-interest bearing investment which has started to be implemented in Turkey and the world as a whole is discussed. In order to increase the vitality and efficiency of the economy, by taking lessons from the recent economic crisis new developments in the banking and investment sector are being expanded. The purpose of all investors is to obtain more revenue through the use of capital. The inability of traditional investment tools to meet the expectations of investors and the interest based financial system where one investor benefits at the expense of another there has been the need for a different, reliable and non-interest bearing financial market that is consistent with the Islamic rule. As a result an alternative and more reliable interest free financing tool “Sukuk” rental certificates covering people who are sensitive to Islamic rules, appeal to all segments, hidden remaining capital that contributes to the economy, reduce disparities in income distribution, common risk sharing system of profit and loss sharing has emerged. Today, for the structural countries by examining the state of the world market economy the applicability, enactment and future issues associated with this attractive kind of Islamic finance namely the “Sukuk” market has been explained.

Keywords: Islamic finance, islamic markets, non-interest bearing, rental certificates

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Authors: Amin Nazifi, Amir Raki, Doga Istanbulluoglu

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The incorporation of technological advancements into financial services, commonly referred to as Fintech, is primarily aimed at promoting services that are accessible, convenient, and inclusive, thereby benefiting both consumers and businesses. Fintech services employ a variety of technologies, including Artificial Intelligence (AI), blockchain, and big data, to enhance the efficiency and productivity of traditional services. Cryptocurrency, a component of Fintech, is projected to be a trillion-dollar industry, with over 320 million consumers globally investing in various forms of cryptocurrencies. However, these potentially transformative services can also lead to adverse outcomes. For instance, recent Fintech innovations have been increasingly linked to misconduct and disservice, resulting in serious implications for consumer well-being. This could be attributed to the ease of access to Fintech, which enables adults to trade cryptocurrencies, shares, and stocks via mobile applications. However, there is little known about the darker aspects of technological advancements, such as Fintech. Hence, this study aims to generate scholarly insights into the design of robust and resilient Fintech services that can add value to businesses and enhance consumer well-being. Using a mixed-method approach, the study will investigate the personal and contextual factors influencing consumers’ adoption and usage of technology innovations and their impacts on consumer well-being. First, semi-structured interviews will be conducted with a sample of Fintech users until theoretical saturation is achieved. Subsequently, based on the findings of the first study, a quantitative study will be conducted to develop and empirically test the impacts of these factors on consumers’ well-being using an online survey with a sample of 300 participants experienced in using Fintech services. This study will contribute to the growing Transformative Service Research (TSR) literature by addressing the latest priorities in service research and shedding light on the impact of fintech services on consumer well-being.

Keywords: consumer well-being, financial literacy, Fintech, service innovation

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Authors: Esra Yaldız, Tugba Bulbul Bahtiyar, Dicle Aydın

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Humans meet their need for shelter via housing which they structure in line with habits and necessities. In housing culture, traditional dwelling has an important role as a social and cultural transmitter. It provides concrete data by being planned in parallel with users’ life style and habits, having their own dynamics and components as well as their designs in harmony with nature, environment and the context they exist. Textures of traditional dwelling create a healthy and cozy living environment by means of adaptation to natural conditions, topography, climate, and context; utilization of construction materials found nearby and usage of traditional techniques and forms; and natural isolation of construction materials used. One of the examples of traditional settlements in Anatolia is Kilistra (Gökyurt) settlement of Konya province. Being among the important centers of Christianity in the past, besides having distinctive architecture, culture, natural features, and geographical differences (climate, geological structure, material), Kilistra can also be identified as a traditional settlement consisting of family, religious and economic structures as well as cultural interaction. The foundation of this study is the traditional residential texture of Kilistra with its unique features. The objective of this study is to assess the conformity of traditional residential texture of Kilistra with present topography, climatic data, and geographical values within the context of human scale construction, usage of green space, indigenous construction materials, construction form, building envelope, and space organization in housing.

Keywords: traditional residential architecture, Kilistra, Anatolia, Konya

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Authors: Rym Ghariani, Younes Boujelbene

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In contemporary times, global technological advancements, particularly those in the realm of digital technology, have emerged as pivotal instruments for enterprises in fostering viable partnerships and forging meaningful alliances with other firms. The advent of these digital innovations is poised to revolutionize nearly every facet and operation within corporate entities. The primary objective of this study is to explore the correlation between digitization, integration of supply chains, and the financial efficacy of the agro-industrial sector in Tunisia. To accomplish this, data collection employed a questionnaire as the primary research instrument. Subsequently, the research queries were addressed, and hypotheses were examined by subjecting the gathered data to principal component analysis and linear regression modeling, facilitated by the utilization of SPSS26 software. The findings revealed that digitalization within the supply chain, along with external supply chain integration, exerted discernible impacts on the financial performance of the organization.

Keywords: digitalization, supply chain integration, financial performance, Tunisian agro-industrial sector

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Authors: Saeed Sayyad Hagh Shomar

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Traffic congestion pricing as one of the demand management strategies constrains expenditure to network users so that it helps reduction in traffic congestion and environment pollution like air pollution. Despite the development of congestion pricing schemes for traffic in our country, the matters of traditional toll collection, drivers’ waste of time and delay in traffic are still widespread. Electronic toll collection as a part of the intelligent transportation system provides the possibility of collecting tolls without car-stop and traffic disruption. Unlike the satisfying outcomes of using intelligent systems in congestion pricing schemes, implementation costs and technological problems are the barriers in these schemes. In this research first, a variety of electronic pay toll systems and their components are introduced then their functional usage is discussed. In the following, by analyzing and comparing the barriers, limitations and advantages, the selection criteria of intelligent systems are described and the results show that the choice of the best technology depends on the various parameters which, by examining them, it is concluded that in a long-term run and by providing the necessary conditions, DSRC technology as the main system in the schemes and ANPR as a major backup system of the main one can be employed.

Keywords: congestion pricing, electronic toll collection, intelligent systems, technology, traffic

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Authors: Abdulaziz Abdulsaleh

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This study aims at identifying the practices that should be taken into consideration by audit committees as a tool of corporate governance in Libyan commercial banks by investigating various perceptions on this topic. The study is based on a questionnaire submitted to audit committees ‘members at Libyan commercial banks, directors of internal audit departments as well as members of board of directors at these banks in addition to a number of external auditors and academic staff from Libyan universities. The study reveals that the role of audit committees has to be shifted from traditional areas of accounting to a broader role including functions related to financial reporting, audit planning, support the independence of internal and external auditors, acting as a channel of communication between external auditors and board of directors, reviewing external audit, and evaluating internal control systems. Although the study is a starting point in developing a framework of good audit committees’ practices in Libya, it is believed that the adoption of its results can result in enhancing the corporate governance practices not only in the banking sector but also in the entire corporate sector in Libya.

Keywords: audit committees, corporate governance, commercial banks, Libya

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Authors: David Kriebel, Jan Edgar Mehner

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The paper introduces a method to efficiently simulate nonlinear changing electrostatic fields occurring in micro-electromechanical systems (MEMS). Large deflections of the capacitor electrodes usually introduce nonlinear electromechanical forces on the mechanical system. Traditional finite element methods require a time-consuming remeshing process to capture exact results for this physical domain interaction. In order to accelerate the simulation process and eliminate the remeshing process, a formulation of a strongly coupled electromechanical transducer element will be introduced, which uses a combination of finite-element with an advanced mesh morphing technique using radial basis functions (RBF). The RBF allows large geometrical changes of the electric field domain while retaining the high element quality of the deformed mesh. Coupling effects between mechanical and electrical domains are directly included within the element formulation. Fringing field effects are described accurately by using traditional arbitrary shape functions.

Keywords: electromechanical, electric field, transducer, simulation, modeling, finite-element, mesh morphing, radial basis function

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Authors: Pedram Saadati, Zahra Nazari

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Today, the role and importance of financial technology businesses in Iran have increased significantly. Although, in Iran, there is no Islamic or non-Islamic personal financial planning field of study in the universities or educational centers, the profession of personal financial planning is not defined, and there is no software introduced in this regard for advisors or consumers. The largest sales network of financial services in Iran belongs to the insurance industry, and there is an untapped market for international companies in Iran that can contribute to 130 thousand representatives in the insurance industry and 28 million families by providing training and personal financial advisory software. To the best of the author's knowledge, despite the lack of previous internal studies in this field, the present study investigates the level of readiness of the salesforce of the insurance industry to accept this career and its technology. The statistical population of the research is made up of managers, insurance sales representatives, assistants and heads of sales departments of insurance companies. An 18-minute video was prepared that introduced and taught the job of Islamic personal financial planning and explained its difference from its non-Islamic model. This video was provided to the respondents. The data collection tool was a research-made questionnaire. To investigate the factors affecting technology acceptance and job change, independent T descriptive statistics and Pearson correlation were used, and Friedman's test was used to rank the effective factors. The results indicate the mental perception and very positive attitude of the insurance industry activists towards the usefulness of this job and its technology, and the studied sample confirmed the intention of training in this knowledge. Based on research results, the change in the customer's attitude towards the insurance advisor and the possibility of increasing income are considered as the reasons for accepting. However, Restrictions on using investment opportunities due to Islamic financial services laws and the uncertainty of the position of the central insurance in this regard are considered as the most important obstacles.

Keywords: fintech, insurance, personal financial planning, wealth management

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Authors: Muneer Abbad

Abstract:

In search of better, traditional learning universities have expanded their ways to deliver knowledge and integrate cost effective e-learning systems. Universities’ use of information and communication technologies has grown tremendously over the last decade. To ensure efficient use of the e-learning system, this project aimed to evaluate the good and bad practices, detect errors and determine areas for further improvements in usage. This project critically evaluated the students’ perception of the e-learning system and recommended changes to improve students’ e-learning usage, through conducting questionnaire given to the students that have experience with e-learning systems. Results of the study indicated that, in general, students have favourable perceptions toward using the e-learning system. They seemed to value the resources tool and its contribution to building their knowledge more than other e-learning tools. However, they seemed to perceive a limited value from the audio or video podcasts. This study has shown that technology acceptance is the most variable, factor that contributes to students’ perception and satisfaction of the e-learning system.

Keywords: e-learning, perception, Jordan, universities

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Authors: Rhaed Khiati, Muhammad Hanif

Abstract:

In the past decade, smart healthcare systems have been on an ascendant drift, especially with the evolution of hospitals and their increasing reliance on bioinformatics and software specializing in healthcare. Doctors have become reliant on technology more than ever, something that in the past would have been looked down upon, as technology has become imperative in reducing overall costs and improving the quality of patient care. With patient-doctor interactions becoming more necessary and more complicated than ever, systems must be developed while taking into account costs, patient comfort, and patient data, among other things. In this work, we proposed a smart hospital bed, which mixes the complexity and big data usage of traditional healthcare systems with the comfort found in soft beds while taking certain concerns like data confidentiality, security, and maintaining SLA agreements, etc. into account. This research work potentially provides users, namely patients and doctors, with a seamless interaction with to their respective nurses, as well as faster access to up-to-date personal data, including prescriptions and severity of the condition in contrast to the previous research in the area where there is lack of consideration of such provisions.

Keywords: big data, smart healthcare, distributed systems, bioinformatics

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Authors: Morteza Raei Dehaghi, Seyed Mohammad Mirhashemi

Abstract:

The current study explored the effect of economic development, financial development and institutional quality on environmental destruction in upper-middle income countries during the time period of 1999-2011. The dependent variable is logarithm of carbon dioxide emissions that can be considered as an index for destruction or quality of the environment given to its effects on the environment. Financial development and institutional development variables as well as some control variables were considered. In order to study cross-sectional correlation among the countries under study, Pesaran and Friz test was used. Since the results of both tests show cross-sectional correlation in the countries under study, seemingly unrelated regression method was utilized for model estimation. The results disclosed that Kuznets’ environmental curve hypothesis is confirmed in upper-middle income countries and also, financial development and institutional quality have a significant effect on environmental quality. The results of this study can be considered by policy makers in countries with different income groups to have access to a growth accompanied by improved environmental quality.

Keywords: economic development, environmental destruction, financial development, institutional development, seemingly unrelated regression

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Authors: Kristel Faye Tandog

Abstract:

The State Owned Enterprise (SOE) or also called Public Enterprise (PE) has been playing a vital role in a country’s social and economic development. Following this idea, this study focused on the Factor Structures of Financial Performance of the Local Economic Enterprises (LEEs) namely: Food Court, Market, Slaughterhouse, and Terminal in Matalam, Cotabato. It aimed to determine the profile of the LEEs in terms of organizational structure, manner of creation, years in operation, source of initial operating requirements, annual operating budget, geographical location, and size or description of the facility. This study also included the different financial ratios of LEE that covered a five year period from Calendar Year 2009 to 2013. Primary data using survey questionnaire was administered to 468 respondents and secondary data were sourced out from the government archives and financial documents of the said LGU. There were 12 dominant factors identified namely: “management”, “enforcement of laws”, “strategic location”, “existence of non-formal competitors”, “proper maintenance”, “pricing”, “customer service”, “collection process”, “rentals and services”, “efficient use of resources”, “staffing”, and “timeliness and accuracy”. On the other hand, the financial performance of the LEE of Matalam, Cotabato using financial ratios needs reformatting. This denotes that refinement as to the following ratios: Cash Flow Indicator, Activity, Profitability and Growth is necessary. The cash flow indicator ratio showed difficulty in covering its debts in successive years. Likewise, the activity ratios showed that the LEE had not been effective in putting its investment at work. Moreover, profitability ratios revealed that it had operated in minimum capacity and had incurred net losses and thus, it had a weak profit performance. Furthermore, growth ratios showed that LEE had a declining growth trend particularly in net income.

Keywords: factor structures, financial performance, financial ratios, state owned enterprises

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Authors: Liu Yi Hui, Lin Yu Fang, Chiu Fan Yun

Abstract:

In preparation for the coming super-aged society in Taiwan, the Ministry of Labor announced the Middle-aged and Elderly Employment Promotion Act in 2019, dedicating a chapter to expressly prohibiting age discrimination. This study aimed to enhance understanding of workplace ageism by collecting data through in-depth interviews. The findings can be summarized as follows: 1. Elderly employment in Taiwan and its three underlying motivations: Mainly in economic, social, and psychological needs. Economically, elders opt to continue working beyond the traditional retirement age because of financial shocks, a lack of financial planning, and being the breadwinner of the family. Socially and psychologically, they continue working to have a more diversified retirement life and find a new purpose in life. 2. Ageism on the re-employment of elders: On the ground, senior workers may face the age-based stereotype that their work performance is inferior and a broader social environment that is ostensibly friendly but essentially hostile. 3. Possible ways to facilitate elderly employment in terms of empowerment: By developing and empowering seniors with new skills or abilities for re-employment and strengthening their problem-solving skills in the face of new things through training programs, we can not only build the confidence and substantial abilities of senior workers in the workplace but also flip the social stereotype about age.

Keywords: senior-friendly workplaces, elderly employment, empowerment, ageism

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Authors: Rodrigo Zepeda

Abstract:

Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.

Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments

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Authors: Farnaz Nazem

Abstract:

The aim of sustainable architecture is to design buildings with the least adverse effects on the environment and provide better conditions for people. What building forms make the best use of land? This question was addressed in the late 1960s at the center of Land Use and Built Form Studies in Cambridge. This led to a number of influential papers which had a great influence on the practice of urban design. This paper concentrates on the results of sustainability caused by climatic conditions in Iranian traditional architecture in hot-arid regions. As people spent a significant amount of their time in houses, it was very important to have such houses to fulfill their needs physically and spiritually as well as satisfying their cultural and religious aspects of their lifestyles. In a vast country such as Iran with different climatic zones, traditional builders have presented series of logical solutions for human comfort. These solutions have been able to response to the environmental problems for a long period of time. As a result, by considering the experience in traditional architecture of hot–arid climate in Iran, it is possible to attain sustainable architecture.

Keywords: hot-arid climate, Iran, sustainable traditional architecture, urban planning

Procedia PDF Downloads 448