Search results for: behavioural finance

Authors: Ebrahim Mansoori, Datin Joriah Muhammad

Abstract:

Recent studies in finance have focused on the effect of external variables on working capital management. This study investigates the effect of corruption indexes on firms' working capital management. A large data set that covers data from 2005 to 2013 from five ASEAN countries, namely, Malaysia, Indonesia, Singapore, Thailand, and the Philippines, was selected to investigate how the level of corruption in these countries affect working capital management. The results of panel data analysis include fixed effect estimations showed that a high level of countries' corruption indexes encourages managers to shorten the CCC length. Meanwhile, the managers reduce the level of investment in cash and cash equivalents when the levels of corruption indexes increase. Therefore, increasing the level of countries' corruption indexes encourages managers to select conservative working capital strategies by reducing the level of NLB.

Keywords: ASEAN, corruption indexes, panel data analysis, working capital management

Procedia PDF Downloads 407

Authors: Rizwana Tabassum

Abstract:

Introductive Statement: Delay in budget releases is often cited as one of the biggest bottlenecks to smooth and efficient service delivery. While budget release from the ministry of finance to the line ministries has been expedited by simplifying the procedure, budget distribution within the line ministries remains one of the major causes of slow budget utilization. While the budget preparation is a bottom-up process where all DDOs submit their proposals to their controlling officers (such as Upazila Civil Surgeon sends it to Director General Health), who consolidate the budget proposals in iBAS++ budget preparation module, the approved budget is not disaggregated by all DDOs. Instead, it is left to the discretion of the controlling officers to distribute the approved budget to their sub-ordinate offices over the course of the year. Though there are some need-based criteria/formulae to distribute the approved budget among DDOs in some sectors, there is little evidence that these criteria are actually used. This means that majority of the DDOs don’t know their yearly allocations upfront to enable yearly planning of activities and expenditures. This delays the implementation of critical activities and the payment to the suppliers of goods and services and sometimes leads to undocumented arrears to suppliers for essential goods/services. In addition, social sector budgets are fragmented because of the vertical programs and externally financed interventions that pose several management challenges at the level of the budget holders and frontline service providers. Slow procurement processes further delay the provision of necessary goods and services. For example, it takes an average of 15–18 months for drugs to reach the Upazila Health Complex and below, while it should not take more than 9 months in procuring and distributing these. Aim of the Study: This paper aims to investigate the budget distribution practices of an emerging economy, Bangladesh. The paper identifies challenges of timely distribution and ways to deal with problems as well. Methodology: The study draws conclusions on the basis of document analysis which is a branch of the qualitative research method. Major Findings: Upon approval of the National Budget, the Ministry of Finance is required to distribute the budget to budget holders at the department level; however, budget is distributed to drawing and disbursing officers much later. Conclusions: Timely and predictable budget releases assist completion of development schemes on time and on budget, with sufficient recurrent resources for effective operation. ADP implementation is usually very low at the beginning of the fiscal year and expedited dramatically during the last few months, leading to inefficient use of resources. The timely budget release will resolve this issue and deliver economic benefits faster, better, and more reliably. This will also give the project directors/DDOs the freedom to think and plan the budget execution in a predictable manner, thereby ensuring value for money by reducing time overrun and expediting the completion of capital investments, and improving infrastructure utilization through timely payment of recurrent costs.

Keywords: budget distribution, challenges, digitization, emerging economy, service delivery

Procedia PDF Downloads 57

Authors: Javier Sanchez Vidal, Ciarán Mac An Bhaird, Brian Lucey

Abstract:

This study examines the decision by firm owners not to apply for intermediated debt due to a perception that their application will be rejected. Based on a sample of SMEs in 9 European countries over the period 2009-2011, we examine potential explanatory factors for borrower discouragement, including firm, macroeconomic, regulatory and banking industry variables. Compared with firms that applied for bank loans, discouraged borrowers are smaller, younger, have declining turnover and an increasing debt/assets ratio. Perceived willingness of banks to lend rather than the company’s own credit history is more important to encourage applications. Perceptions of refusal are procyclical and may be self-perpetuating. Increased concentration in the banking sector reduces discouragement, indicating the importance of relationship banking. Transmission of macro effects through the banking system and economic environment may also lead to higher levels of discouragement. A good regulatory scheme is also advisable, either for the lenders or the borrowers (overall the good ones).

Keywords: entrepreneurial finance, discouraged borrowers, banking, financial crisis, eurozone

Procedia PDF Downloads 381

Authors: Dieter Veldsman, Theo Heyns Veldsman

Abstract:

The knowledge economy demands an organisation that is flexible, adaptable and able to navigate the ever-changing environment. This fast-paced environment has however resulted in an organizational landscape that battles to engage employees, retain top talent and create meaningful work for its members. In the knowledge economy, the concept of organizational identity has become an important consideration as organisations aim to create a compelling and inviting narrative for all stakeholders across the business value chain. Values are often seen as the behavioural framework that informs organisational culture, yet often values are perceived to be inauthentic and misaligned with the true character or identity of the organisation and how it is perceived by different role players. This paper focuses on exploring the relationship between organisational identity and value systems by focusing on a case study within a multi-national organisation within South Africa. The paper evaluates the implementation of mixed methods OD approach that gathered collaborative inputs of more than 4500 employees who participated in crafting the newly established values system post a retrenchment process. The paper will evaluate the relationship between the newly crafted value system and the identity of the organisation as described by various internal and external stakeholders in order to explore potential alignment, dissonance and key insights into understanding the relationship between organisational identity and values. The case study will be reported from the perspective of an OD consultant who supported the transformation process over a period of 8 months and aims to provide key insights into values and identity alignment within knowledge economy organisations. From a practical perspective, the paper provides insights into how values are created, perceived and lived within organisations and the impact on employee engagement and culture.

Keywords: culture, organisational development, organisational identity, values

Procedia PDF Downloads 286

Authors: Kajori Banerjee, Laxmi Kant Dwivedi

Abstract:

“Health transition” is defined to be “a process through which high levels of mortality, morbidity and disability are reduced to low levels by influencing cultural, social and behavioural factors”. Life expectancy in India has been on the rise and parallel the burden of disease and disability has also risen noticeably. Borrowing data from Indian Census (2001, 2011), this study identifies the gender-wise burden of disability by calculating disability free life expectancy (DFLE) and life lived with disability (LWD). Sullivan’s method of calculating DFLE using proportion of disabled is used for this purpose. The change in person years lived with disability in the decade 2001-11 is further decomposed using Arriaga’s method into mortality and disability effects (ME and DE) to check the magnitude and direction of contribution of mortality and disability. Nationally, along with DFLE, LWD has amplified too. Despite having the highest life expectancy and DFLE, LWD in Kerala, was highest for both sexes in 2001. But in 2011, the LWD was highest among the males of Orissa and females of Rajasthan. For the overall population, DE is positive for the prime working age groups of 20-40years indicating that there has been an increase in the disability proportion holding mortality constant for 2001-2011. Females exhibit higher positive DE implying greater loss of healthy years due to disability than males. The findings call for an immediate attention to the causes of rising disability burden among the working population, especially females, as this might heavily effect the availability of quality labour force and its relative economic output in the Indian labour market. This also hints at the degrading quality of the elongated life and needs to be given the required attention to enhance the quality of life lead in the Nation.

Keywords: disability-free life expectancy, disability effect, life expectancy, mortality effect

Procedia PDF Downloads 360

Authors: Yosra Mefteh Rekik

Abstract:

A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

Procedia PDF Downloads 403

Authors: Yongsheng Guo, Mengyu Lu

Abstract:

This study investigates how Chinese SMEs manage financial risks in customer financing. 32 interviews were conducted, and grounded theory models were developed to link the causal conditions, actions, and consequences. This study found that Chinese ethical principles, including integrity, friendship, reciprocity, and cultural traits, including collectivism, acquaintance society, and long-term orientation, provide conditions for customer financing. The SMEs establish trust-based relationships with customers and build a social network. The SMEs reduce financial risk through diversification, frequent operations and enterprise reputations. Both customers and SMEs can get benefits, including customer experience and financial rewards for customers and financial resources and customer base for SMEs. But there are some problems, like default for customers and financial cost for enterprises. This study develops a resource and process capability theory of SMEs and a customer capital and customer value theory to connect finance, accounting, and management concepts.

Keywords: CRM, culture, ethics, financing from customer, SME

Procedia PDF Downloads 23

Authors: Koninika Mukherjee, Dilwar Hussain

Abstract:

Introduction: One of the most prevalent psychopathologies among the youth is social anxiety. The presence of comorbid disorders further complicates diagnosis and treatment. One of the most commonly co-occurring disorders, along with social anxiety, is related to eating behavior. Objective: Identifying the risk and protective factors and the mechanism through which the effect of these disorders might help in treatment and prevention. So, the stated objective of the present study is to investigate the role of fear of negative evaluation and social appearance anxiety in the relationship of parental bonding with social anxiety and comorbid disordered eating. Method: A cross-sectional study was conducted with 411 Indian undergraduates. Data collection was done with the help of self-report measures like the social interaction anxiety scale, parental bonding instrument, brief fear of negative evaluation, social appearance anxiety scale, and the eating attitudes test. SPSS Amos 22.0 version was used for path analyses. Results: Out of the different dimensions of parental bonding, only maternal care and the father’s granting of behavioural freedom proved significant in the development and maintenance of social anxiety and disordered eating behaviour and symptoms. Fear of negative evaluation and social appearance anxiety mediated the impact of the mother’s care on social anxiety and comorbid disordered eating. However, only fear of negative evaluation seemed to mediate the effect of paternal granting of behavioral freedom on social anxiety and comorbid issues. Implications: One of the vital contributions of this study is looking at perceived maternal and paternal bonding separately in the path model. Identifying parenting dimensions significantly related to social anxiety and comorbid disorders can aid in establishing consensus around operational definitions and in the formulation of comprehensive assessments. Future Directions: Future research can include both participant and parental perceptions of parental bonding.

Keywords: social anxiety, disordered eating, fear of negative evaluation, social appearance anxiety

Procedia PDF Downloads 46

Authors: Yuchen LI, Martyn Kurr, Peter Golyshin

Abstract:

Biological invasion is a global problem. Invasive species can threaten local ecosystems by competing for resources, consuming local species, and reproducing faster than natives. Sargassum muticum is an invasive algae in the UK. It negatively impacts local algae through overshading and can cause reductions in local biodiversity. One possibility for its success is herbivore release. According to the Enemy Release Hypothesis, invasives are less impacted by local herbivores than natives. In many species, gastrointestinal (GI) tract microbes have been found as a key factor in food preference and similar mechanisms may exist in the relationship between local consumers and S. muticum. Some populations of native Littorina snails accept S. muticum as a food source, while others avoid it. This project aims to establish the relationship between GI tract microbes and the feeding preferences of L. littorea, when offered both native algae and S. muticum. Individuals of L. littorea from a site invaded by S. muticum around 18 years ago were compared to those from an un-invaded site nearby. Sargassum-experienced snails are more likely to consume it than those naïve, and pronounced differences were found in the GI-tract microbial communities through 16S (prokaryote) and 18S (eukaryote) sequencing. Sargassum-naïve snails were then exposed to a faecal pellets from experienced snails to ‘inoculate’ them with microbes from the exposed snails. Preliminary results suggest these faecal-pellet-exposed but otherwise Sargassum-naïve snails subsequently begun consuming S. muticum. It is unclear if these results are due to genuine changes in GI-tract microbes or through some other mechanism, such as behavioural responses to chemical cues in the faecal pellets, but these results are nevertheless of significance for invasive ecology, suggesting that foraging preferences for an invasive prey type are malleable and possibly programmable in laboratory settings.

Keywords: invasive algae, sea snails, gut microbiome, biocontrol

Procedia PDF Downloads 52

Authors: Abdullateef Abdulkarim Jimoh, Muhammad Lawal A., Usman Muhammad, Hamisu Abdullahi, Nuhu Abdullahi Jega

Abstract:

Smart city projects can be aided by urban development policies in public facilities, but economic resources to finance urban system reorganization is an issue to various governments. This is further compounded with the impact of the slowing down of national economies. The aim of this paper is to emphasize the need to prioritize the economic benefits of smart city projects and, specifically, in towns transforming into cities like Birnin kebbi. The smart-city projects can aim at developing a new form of ‘‘modernity and civilization’’ of the productive economy. This study adopts the descriptive statistical approach to identify the key performance indicators (KPI) for tracking the progress of cities and its developmental objectives. It has been established that numerous aspects of the modernization policies can enhance the competitiveness of territories, particular in aspects of social cohesion, the diffusion of knowledge, creativity, accessibility, etc.

Keywords: economy, economic policy, public facilities, smart city, urbanization

Procedia PDF Downloads 83

Authors: Amrial, Yuri Oktaviani, Ziyan Muhammad Farhan

Abstract:

On the phase of shifting paradigm into sustainability, Indonesia is involved in Sustainable Development Goals (SDGs) project. That act is revealed by creating Medium and Long Term Roadmap for Sustainable Finance in Indonesia which collaborated design by Indonesia Financial Service Board (OJK) and Ministry of Environment and Forestry. One of alternative for that infrastructure financing is sharia-based financing, Green Sukuk (Sukuk specified on sustainable infrastructure project). Green Sukuk for infrastructure financing in Indonesia can be issued by the government in the form of Sukuk Project Financing. Moreover, banks in Indonesia can also participate for the issuance of Green Sukuk. So that the banks can create a financing for people who are concerned about environmental issues. By using qualitative methods and literature review, this paper aims to discuss potential, strategy and planning of Green Sukuk for financing sustainable infrastructure in the purpose of SDGs. This paper will benefit for government to give scientific discussion on the strategy of Green Sukuk in promoting sustainable goals infrastructure project in Indonesia.

Keywords: green sukuk, infrastructure, SDGs, sustainable

Procedia PDF Downloads 338

Authors: Fawzia Mohammed Idris

Abstract:

Zakat is an Islamic procedure for wealth distribution as a social protection mechanism for needy people. This study aimed to assess the possibility to expand the share of fund for national health insurance fund from zakat funds allocated for poor people by measuring the reduction of poverty that result from the investing on direct payment to the needy or by covering them in social health insurance. This study used stata regression as a statistical analysis tool and the finding clarified that there is no significant relationship between the poverty rate as the main indicator and, the number of poor people covered by national health insurance on one hand and the number of benefits poor people from the distribution of zakat fund. This study experienced many difficulties regarding the quality and the consistency of the data. The study suggested that a joint mission between national health insurance fund and zakat chamber to conduct study to assess the efficient use of zakat fund allocated to poor people.

Keywords: health finance, poverty, social health insurance, zakat

Procedia PDF Downloads 121

Authors: Jorge M. Uribe

Abstract:

We propose a methodology for setting the price of an insurance contract targeted to manage the risk associated with weather conditions that affect variable renewable energy generation. The methodology relies on conditional quantile regressions to estimate the weather risk of a solar panel. It is illustrated using real daily radiation and weather data for three cities in Spain (Valencia, Barcelona and Madrid) from February 2/2004 to January 22/2019. We also adapt the concepts of value at risk and expected short fall from finance to this context, to provide a complete panorama of what we label as weather risk. The methodology is easy to implement and can be used by insurance companies to price a contract with the aforementioned characteristics when data about similar projects and accurate cash flow projections are lacking. Our methodology assigns a higher price to an insurance product with the stated characteristics in Madrid, compared to Valencia and Barcelona. This is consistent with Madrid showing the largest interquartile range of operational deficits and it is unrelated to the average value deficit, which illustrates the importance of our proposal.

Keywords: insurance, weather, vre, risk

Procedia PDF Downloads 124

Authors: Erin V. Kelly, Nicola C. Newton, Lexine A. Stapinski, Maree Teesson

Abstract:

Introduction: There is a lack of targeted prevention programs for reducing bullying and distress among adolescents involved in bullying. The current study aimed to examine the impact of a personality-targeted intervention (Preventure) on bullying (victimization and perpetration) and distress among adolescent victims/bullies with high-risk personality types. Method: A cluster randomized trial (RCT) was conducted in 26 secondary schools (2190 students) in NSW and Victoria, Australia, as part of the Climate Schools and Preventure trial. The schools were randomly allocated to Preventure (13 schools received Preventure, 13 did not). Students were followed up at 4 time points (6, 12, 24 and 36 months post-baseline). Preventure involves two group sessions, based on cognitive behavioral therapy, and tailored to four personality types shown to increase risk of substance misuse and other emotional and behavioural problems, including impulsivity, sensation-seeking, anxiety sensitivity and hopelessness. Students were allocated to the personality-targeted groups based on their scores on the Substance Use Risk Profile Scale. Bullying was measured using an amended version of the Revised Olweus Bully/Victim Scale. Psychological distress was measured using the Kessler Psychological Distress Scale. Results: Among high-risk students classified as victims at baseline, those in Preventure schools reported significantly less victimization and distress over time than those in control schools. Among high-risk students classified as bullies at baseline, those in Preventure schools reported significantly less distress over time than those in control schools (no difference for perpetration). Conclusion: Preventure is a promising intervention for reducing bullying victimization and psychological distress among adolescents involved in bullying.

Keywords: adolescents, bullying, personality, prevention

Procedia PDF Downloads 209

Authors: Aslina Asnawi, A. Amidah Amrawaty, Nirwana

Abstract:

This article examines the relationship of local culture on the ability to access finance on beef cattle farmer. The local culture in this study associated with the values held by the farmer community so far and affect the character of farmers both in his personal life and his relationship with the surrounding environment. The data was collected by using interview and questionnaire instrument. Data were analyzed using descriptive analysis and correlation analysis. The result show that local culture identified in this study include: honesty, cleverness, decency, firmness, hard work, and shame. It’s important result that local culture has been associated with the ability to access financing for beef cattle farmers. The higher values are adopted and maintained by farmers will increase their ability to obtain loans from both informal and formal institutions. Strengthening the local culture is important because it affects the character of farmers who became one of the considerations for lenders other than collateral, capacity and capital is precisely the financing constraints for them.

Keywords: access funding, beef cattle farmers, character, local culture

Procedia PDF Downloads 306

Authors: Samir Assal

Abstract:

This paper considers an international sample of venture capital and private equity funds to assess the role of law, corruption and culture in setting fund manager fees in terms of their fixed management fees, carried interest performance fees, clawbacks of fees and cash versus share distributions of fees. The data highlight a role of legal conditions in shaping fees paid to fund managers. In countries with better legal conditions, fixed fees are lower, carried interest fees are higher, clawbacks are less likely, and share distributions are more likely. These findings suggest legal conditions help to align the interests of managers and shareholders. More specifically, we examine which element of legal conditions matter most, and discover that corruption levels play a pronounced role in shaping fund manager fee contracts. We also show that cultural forces such as Hofstede’s measures of power distance and uncertainty avoidance likewise play a role in influencing fees.

Keywords: managerial compensation, incentive contracts, private equity, law and finance

Procedia PDF Downloads 285

Authors: Mahsa Hadipour Jahromy, Sara Rezaii

Abstract:

Parkinson’s disease (PD) results primarily from the death of dopaminergic neurons in the substantia nigra. Soon after the discovery of levodopa and its beneficial effects in chronic administration, debilitating involuntary movements observed, termed levodopa-induced dyskinesia (LID) with poorly understood pathogenesis. Polyphenol-rich compounds, like pomegranate, provided neuroprotection in several animal models of brain diseases. In the present work, we investigated whether pomegranate has preventive effects following 4-phenyl-1,2,3,6-tetrahydropyridine (MPTP)-induced dopaminergic degenerations and the potential to diminish LID in mice. Mice model of PD was induced by MPTP (30 mg/kg daily for five consecutive days). To induce a mice model of LID, valid PD mice were treated with levodopa (50 mg/kg, i.p) for 15 days. Then the effects of chronic co-administration of pomegranate juice (20 ml/kg) with levodopa and continuing for 10 days, evaluated. Behavioural tests were performed in all groups, every other day including: Abnormal involuntary movements (AIMS), forelimb adjusting steps, cylinder, and catatonia tests. Finally, brain tissue sections were prepared to study substantia nigra changes and dopamine neuron density after treatments. With this MPTP regimen, significant movement disorders revealed in AIMS tests and there was a reduction in dopamine striatal density. Levodopa attenuates their loss caused by MPTP, however, in chronic administration, dyskinesia observed in forelimb adjusting step and cylinder tests. Besides, catatonia observed in some cases. Chronic pomegranate co-administration significantly improved LID in both tests and reduced dopaminergic loss in substantia nigra. These data indicate that pomegranate might be a good adjunct for preserving dopaminergic neurons in the substantia nigra and reducing LID in mice.

Keywords: levodopa-induced dyskinesia, MPTP, Parkinson’s disease, pomegranate

Procedia PDF Downloads 470

Authors: Gadia Duhita, Noorhana, Tjhin Wiguna

Abstract:

Background: ADHD is the most common behavioural disorder in Indonesia. A stimulant, specifically methylphenidate, has been the first drug of choice for an ADHD treatment more than half a century. During the last decade, non-stimulant therapy (atomoxetine) for ADHD treatment has been developing. Growing evidence of its efficacy and the difference in its side effects profile to stimulant therapy have made methylphenidate’s position as a first line therapy for ADHD in need of re-evaluation. Both methylphenidate and atomoxetine have proven themselves against placebos in reducing core symptoms of ADHD. More recent studies directly compare the efficacy of methylphenidate and atomoxetine. Objective: The objective of this paper is to find out if either methylphenidate or atomoxetine is superior to another. This paper will assess the validity, importance, and applicability of current available evidence which compare the effectivity, efficacy, and safety of methylphenidate to atomoxetine for treatment in children and adolescents with ADHD. Method: The articles were searched for through the PubMed and Cochrane databases with “attention deficit/hyperactivity disorder OR adhd”, “methylphenidate”, and “atomoxetine” as the search keywords. Two articles which were relevant and eligible were chosen by using inclusion and exclusion criterias to be critically appraised. Result: The study by Hazel et al. showed that the efficacy of methylphenidate and atomoxetine are comparable for treatment in child and adolescent ADHD. The result shows 53.6% (95% CI 48.5%-58.4%) of the patient responded to the treatment by atomoxetine and 54.4% (95% CI 47.6%-61.1%) patients responded to methylphenidate, with the difference in proportion of–0.9% (95% CI –9.2%-7.5%). The other study by Hanwella et al. also showed that the efficacy of atomoxetine was not inferior to metilphenidate (SMD = 0.09, 95% CI –0.08-0.26) (Z = 1.06, p = 0.29). However, the sub-group analysis showed that OROS methylphenidate is more effective compared to atomoxetine (SMD = 0.32, 95% CI 0.12-0.53) (Z = 3.05, p < 0.02). Conclusion: The efficacy of methylphenidate and atomoxetine in reducing symptoms of ADHD is comparable. None is proven inferior to another. The choice of pharmacological tratment children and adolescents with ADHD should be made based on contraindication and the side effects profile of each drug.

Keywords: attention deficit/hyperactivity disorder, ADHD, atomoxetine, methylphenidate

Procedia PDF Downloads 453

Authors: Saba Aziz

Abstract:

Social enterprises are playing a growing role in transforming the lives of individuals and communities around the world, providing innovative solutions to critical social and environmental issues such as education, job creation, and health care. Women are increasingly utilising services of these enterprises to overcome socio-economic constraints and increase their access to business and market. This article systematically reviews the available literature on the role of social enterprises on women's empowerment in South Asia. Twelve key terms were specified and researched on five databases. Some of the literature was excluded based on the lack of evidence on the involvement of social enterprises. Remaining literature was rated according to the quality; due to methodological inconsistency, the findings are presented in a descriptive form. The relevant studies review the impact of social enterprises on women’s economic, social, relational, health, personal and political aspects of empowerment. In discussion, we outline areas for further research on social enterprises activity that impacts women’s overall empowerment specifically in South Asia.

Keywords: social enterprise, women empowerment, systematic review, well-being, social impact, micro finance, South Asia, Pakistan

Procedia PDF Downloads 136

Authors: Sandeep Goyal, Sandeep Saluja

Abstract:

Natural antioxidants have major role in maintenance of health. Green tea extract principally contains epigallocatechin-3-gallate (EGCG), as its abundant antioxidant constituent. Green tea is consumed daily worldwide as antioxidant to combat CNS diseases and has traditional importance also. EGCG has neuroprotective potential in various animal models of Parkinson disease, Alzheimer’s disease etc. but its exact mechanism has not been ruled out. The present study has been designed to investigate the anti-inflammatory, antioxidant and mitochondrial modulating mechanism of neuroprotective effect of epigallocatechin-3-gallate against rodent model of rotenone induced Parkinson’s disease (PD). The behavioural alterations were assessed by using open field test apparatus, Chatilon’s grip strength test apparatus and elevated plus maze for determining the locomotor activity, grip strength and cognition respectively. Biochemically, various parameters to assess oxidative stress, neuroinflammation and neurochemical estimations were performed on rat brain homogenates. A histological examination of rat brain striatum was done to check the neurodegeneration. Epigallocatechin-3-gallate (EGCG) at 10 & 20 mg/kg, were investigated for their neuroprotective potential along with levodopa as a standard agent. Minocycline, a microglial activation inhibitor, was administered alone and in combination with EGCG. EGCG and minocycline produced ameliorative effect against rotenone induced PD like symptoms by significantly reduced behavioral, biochemical and histological alterations. Results of our study reveal the neuroprotective effect of EGCG and minocycline against rotenone induced PD. Results of our study indicate that EGCG exerted neuroprotective effect against rotenone induced PD via its antioxidant, anti-inflammatory and mitochondrial modulating mechanisms and substantiate its previously reported and traditional claims for its use in CNS diseases.

Keywords: antioxidants, neurotoxicity, rotenone, EGCG

Procedia PDF Downloads 330

Authors: Patricia Kermeci

Abstract:

Policies related to the reduction of both carbon dioxide and energy consumption within the residential sector have contributed towards a growing number of energy-efficient houses being built in several countries. Many of these energy-efficient houses rely on the construction of very well insulated and highly airtight structures, ventilated mechanically. Although energy-efficient houses are indeed more energy efficient than conventional houses, concerns have been raised over the quality of their indoor air and, consequently, the possible adverse health and wellbeing effects for their occupants. Using a longitudinal study design over three different weather seasons (winter, spring and summer), this study has investigated the indoor climate and indoor air quality of different rooms (bedroom, living room and kitchen) in five energy-efficient houses and four conventional houses in the UK. Occupants have kept diaries of their activities during the studied periods and interviews have been conducted to investigate possible behavioural explanations for the findings. Data has been compared with reviews of epidemiological, toxicological and other health related published literature to reveals three main findings. First, it shows that the indoor environment quality of energy-efficient houses cannot be treated as a holistic entity as different rooms presented dissimilar indoor climate and indoor air quality. Thus, such differences might contribute to the health and wellbeing of occupants in different ways. Second, the results show that the indoor environment quality of energy-efficient houses can vary following changes in weather season, leaving occupants at a lower or higher risk of adverse health and wellbeing effects during different weather seasons. Third, one cannot assume that even identical energy-efficient houses provide a similar indoor environment quality. Fourth, the findings reveal that the practices and behaviours of the occupants of energy-efficient houses likely determine whether they enjoy a healthier indoor environment when compared with their control houses. In conclusion, it has been considered vital to understand occupants’ practices and behaviours in order to explain the ways they might contribute to the indoor climate and indoor air quality in energy-efficient houses.

Keywords: energy-efficient house, health and wellbeing, indoor environment, indoor air quality

Procedia PDF Downloads 203

Authors: Anshu Bahl, Saroj Kaler, Shivani Gupta, S B Ray

Abstract:

Background: Somatostatin is an endogenous regulatory neuropeptide. Somatostatin and its analogues play an important role in neuropathic and inflammatory pain. Neuropeptide Y is extensively distributed in the mammalian nervous system. NPY has an important role in blood pressure, circadian rhythm, obesity, appetite and memory. The purpose was to investigate somatostatin and NPY expression in dorsal root ganglia during pain. The plantar incision model in rats is similar to postoperative pain in humans. Methods: 24 adult male Sprague dawley rats were distributed randomly into two groups – Control (n=6) and incision (n=18) groups. Using Hargreaves apparatus, thermal hyperalgesia behavioural test for nociception was done under basal condition and after surgical incision in right hind paw at different time periods (day 1, 3 and 5). The plantar incision was performed as per standard protocol. Perfusion was done using 4% paraformaldehyde followed by extraction of dorsal root ganglia at L4 level. The tissue was processed for immunohistochemical localisation for somatostatin and neuropeptide Y. Results: Post incisional groups (day 1, 3 and 5) exhibited significant decrease of paw withdrawal latency as compared to control groups. Somatostatin expression was noted under basal conditions. It decreased on day 1, but again gradually increased on day 3 and further on day five post incision. The expression of Neuropeptide Y was noted in the cytoplasm of dorsal root ganglia under basal conditions. Compared to control group, expression of neuropeptide Y decreased on day one after incision, but again gradually increased on day 3. Maximum expression was noted on day five post incision. Conclusion: Decrease in paw withdrawal latency indicated nociception, particularly on day 1. In comparison to control, somatostatin and NPY expression was decreased on day one post incision. This could be correlated with increased axoplasmic flow towards the spinal cord. Somatostatin and NPY expression was maximum on day five post incision. This could be due to decreased migration from the site of synthesis towards the spinal cord.

Keywords: dorsal root ganglia, neuropeptide y, postoperative pain, somatostatin

Procedia PDF Downloads 153

Authors: Bashir Tijjani Abubakar

Abstract:

Capital markets play a very important role in financing of private and public institutions in both developing and developed economies. Unfortunately, small and medium enterprises (SMEs) in those economies are yet to fully utilize the markets to finance their long financial needs. This study assesses the factors that influence the decisions of the Muslim Owners/Managers of SMEs in Nigeria and specifically in Kano to seek capital market financing. Logit regression model was used to assess the factors such as control of ownership, perception of the owners/managers on the interest rate charged by commercial banks, educational qualification, size, and age of the SMEs. The study reveals that all the factors have significant positive influence on the willingness of the SMEs Owners/Managers to seek capital market financing. The study recommends educating the Owners/Managers on the operations and products of the markets.

Keywords: capital markets, capital market financing, small and medium enterprise and willingness, size of an enterprise, age of an enterprise and control of ownership

Procedia PDF Downloads 254

Authors: Ghalia Shamlan, M. Denise Robertson, Adam Collins

Abstract:

Appetite control (i.e. control of energy intake) is important for weight maintenance. Exercise contributes to the most variable component of energy expenditure (EE) but its impact is beyond the energy cost of exercise including physiological, behavioural, and appetite effects. Exercise is known to acutely influence effect appetite but evidence as to the independent effect of intensity is lacking. This study investigated the role of exercise intensity on appetite, energy intake (EI), appetite related hormone, fat utilisation and subjective measures of appetite. One hour after a standardised breakfast, 10 sedentary overweight volunteers. Subjects undertook either 8 repeated 60 second bouts of cycling at 95% VO2max (high intensity) or 30 minutes of continuous cycling, at a fixed cadence, equivalent to 50% of the participant’s VO2max (low intensity) in a randomised crossover design. Glucose, NEFA, glucagon-like peptide-1 (GLP-1) were measured fasted, postprandial, and pre and post-exercise. Satiety was assessed subjectively throughout the study using visual analogue scales (VAS). Ad libitum intake of a pasta meal was measured at the end (3-h post-breakfast). Interestingly, there was not significant difference in EE fat oxidation between HI and LI post-exercise. Also, no significant effect of high intensity (HI) was observed on the ad libitum meal, 24h and 48h EI post-exercise. However the mean 24h EI was 3000 KJ lower following HI than low intensity (LI). Despite, no significant differences in hunger score, glucose, NEFA and GLP-1 between both intensities were observed. However, NEFA and GLP-1 plasma level were higher until 30 min post LI. In conclusion, the similarity of EE and oxidation outcomes could give overweight individuals an option to choose between intensities. However, HI could help to reduce EI. There are mechanisms and consequences of exercise in short and long-term appetite control; however, these mechanisms warrant further explanation. These results support the need for future research in to the role of in regulation energy balance, especially for obese people.

Keywords: appetite, exercise, food intake, energy expenditure

Procedia PDF Downloads 483

Authors: Lydia Murugi Mugendi

Abstract:

The promotion of tree growing as a lucrative enterprise is the focus of this paper as management practices have shifted focus from protection of natural forest resources to community/government partnerships with the aim of resource conservation, management and increase of on-farm tree growing. Using KEFRI as (the source) of information pertaining Melia volkensii (the medium or message) being transferred, this paper investigates the current perception towards forestry and the behavioural attitudes of recipients of forest intervention activities. The two objectives explored in this paper are to find out the level of adoption of Mukau in Kitui, Kibwezi and Samburu/Taru and secondly, to find out the characteristics of the adoption process between Kitui, Kibwezi and Samburu/Taru. The methodologies used during data collection were participatory rural appraisal tools in conjunction with the social survey questionnaires. Simple random sampling and snowball sampling were used to identify respondents within the three target sites and analysis was done using SPSS. Results of the study of indicating that adoption rates of the Mukau in Samburu/Taru, where forestry-related activities were introduced within the past one decade had significantly increase despite initial resistance. The other areas, which had benefited from numerous decades of intense forestry extension projects and activities, indicated a decline in re-adoption rates of Mukau as an enterprise. This study has brought out the reality of adoption trends and state of Mukau population within the three counties while providing a glimpse towards the communities’ perception in regards to adoption of forestry and other environmental innovations. The outcome of the study is to provide a guideline for extension/ dissemination officers in KEFRI and related stakeholders to promote seamless cohesive interaction between the recipient communities of the proposed interventions.

Keywords: adoption, innovation, enterprise, extension, DOI Theory

Procedia PDF Downloads 85

Authors: Abongile Zweni

Abstract:

As a post-apartheid strategy to redress the social imbalances of the past, local governments are tasked with the role of delivering crucial services to their constituents. Apart from political instability, evidence shows that managers in South African municipalities lack effective financial management skills and competencies. This resulted in a failure to fulfill its administrative obligations, particularly municipal financial management. Most municipalities have, however, failed in this role, which has led them to be placed under administration by the provincial government in terms of Section 139 of the constitution of the Republic of South Africa. Thus, this study proposed a leadership conceptual framework for effectively managing ever-eroding municipal finances in South Africa. The study adopted a desktop research approach to explore the key components of leadership and municipal financial management toward the development of the conceptual framework. The study fostered a better understanding of the need for transformation in relation to the current financial management practices and sustainability of a municipality. Moreover, the conceptual framework applies not only to municipalities but also to other government departments and public authorities in the country for financial management.

Keywords: leadership, municipal finance, financial performance, management skills, municipality

Procedia PDF Downloads 273

Authors: Ameen Alshugaa, Farrukh Habib

Abstract:

Shariah (the Islamic law) sanctions a plethora of profit-sharing arrangements for financial transactions. However, when it comes to the practice of Islamic banking, it is felt by the scholars and practitioners that many of these arrangements often fail to compensate different parties of a financial transaction compared to conventional banking, due to the Riba (interest / usury) element. This issue is caused by the parties inability to codify these compensations in any contract so as to avoid Riba. Here, hibah (gift) may be regarded as one of the solutions. In essence, hibah is a unilateral charity contract where a party voluntarily gives away something to another party without any counter value. This paper attempts to analyse theoretical and practical aspects of hibah from the perspective of Islamic law, enunciating its legality and detailing its allowance in Islamic banking. It also discusses several practices evaluating the role of hibah in resolving issues related to Riba. In particular, these practices demonstrate the validity of hibah as a way to distribute revenues and compensate parties in Islamic financial transactions, while achieving competitive advantage over conventional banking, and avoiding the element of Riba.

Keywords: hibah (gift), Islamic Finance, Islamic Law of Contract, profit distribution, Shariah

Procedia PDF Downloads 273

Authors: Aqeel Akhtar

Abstract:

One of prevailing modes of finance in emerging Islamic banking system is Murabah’a; a financial transaction in which cost and profit both must be recognized by buyer. Otherwise the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (SAW), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency, however, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: shariah compliance, import murabaha, islamic banking, product development

Procedia PDF Downloads 216

Authors: Wangshi Yong, Wei Shi, Jing Zou, Qiang Li, Yilin Tian

Abstract:

With the advancement of the reform of China’s housing security system, the impact is becoming increasingly profound. This paper explores the relationship between the housing security system and household entrepreneurship on the 2017 China Household Finance Survey (CHFS) and conducts a large number of robustness checks, including PSM and IV estimation. The results show that the assistance of the housing security system will significantly promote family entrepreneurship, increasing the probability of entrepreneurship by 2%. Its internal mechanism is mainly achieved by relaxing liquidity constraints and increasing household social capital. However, the risk preference effect has not existed. Heterogeneity analysis shows that the positive impact of the housing security system on family entrepreneurship is mainly reflected in areas with high housing prices and incomes, as well as households with long-term security and social or commercial insurance. Meanwhile, it also verifies that the positive externalities of the housing security system will also positively affect active entrepreneurial motivation, entrepreneurial intensity, and entrepreneurial innovation.

Keywords: the housing security system, household entrepreneurship, social capital, liquidity constraints, risk preference

Procedia PDF Downloads 53

Authors: A. Hol

Abstract:

21^st century brought waves of business and industry eTransformations. The impact of change is also being seen in education. To identify the extent of this, scenario analysis methodology was utilised with the aim to assess business transformations across industry sectors ranging from craftsmanship, medicine, finance and manufacture to innovations and adoptions of new technologies and business models. Firstly, scenarios were drafted based on the current eTransformation models and its dimensions. Following this, eTransformation framework was utilised with the aim to derive the key eTransformation parameters, the essential characteristics that have enabled eTransformations across the sectors. Following this, identified key parameters were mapped to the transforming domain-education. The mapping assisted in deriving a cognitive eTransformation framework for education sector. The framework highlights the importance of context and the notion that education today needs not only to deliver content to students but it also needs to be able to meet the dynamically changing demands of specific student and industry groups. Furthermore, it pinpoints that for such processes to be supported, specific technology is required, so that instant, on demand and periodic feedback as well as flexible, dynamically expanding study content can be sought and received via multiple education mediums.

Keywords: education sector, business transformation, eTransformation model, cognitive model, cognitive systems, eTransformation

Procedia PDF Downloads 113