Search results for: International Centre for Settlement of Investment Disputes UNCITRAL

Authors: Carol Anne Hargreaves

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A key issue in stock investment is how to select representative features for stock selection. The objective of this paper is to firstly determine whether an automated stock investment system, using machine learning techniques, may be used to identify a portfolio of growth stocks that are highly likely to provide returns better than the stock market index. The second objective is to identify the technical features that best characterize whether a stock’s price is likely to go up and to identify the most important factors and their contribution to predicting the likelihood of the stock price going up. Unsupervised machine learning techniques, such as cluster analysis, were applied to the stock data to identify a cluster of stocks that was likely to go up in price – portfolio 1. Next, the principal component analysis technique was used to select stocks that were rated high on component one and component two – portfolio 2. Thirdly, a supervised machine learning technique, the logistic regression method, was used to select stocks with a high probability of their price going up – portfolio 3. The predictive models were validated with metrics such as, sensitivity (recall), specificity and overall accuracy for all models. All accuracy measures were above 70%. All portfolios outperformed the market by more than eight times. The top three stocks were selected for each of the three stock portfolios and traded in the market for one month. After one month the return for each stock portfolio was computed and compared with the stock market index returns. The returns for all three stock portfolios was 23.87% for the principal component analysis stock portfolio, 11.65% for the logistic regression portfolio and 8.88% for the K-means cluster portfolio while the stock market performance was 0.38%. This study confirms that an automated stock investment system using machine learning techniques can identify top performing stock portfolios that outperform the stock market.

Keywords: machine learning, stock market trading, logistic regression, cluster analysis, factor analysis, decision trees, neural networks, automated stock investment system

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Authors: P. Mambanga, Goon, L. O. Amusa

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The purpose of the study was to investigate the socio-cultural factors hindering sport participation among female students in the Centre for Biokinetics, Recreation and Sport Science, University of Venda. A descriptive survey of 100 female student selected by simple random sampling was used and utilises the close ended questionnaire designed in a likert format was use for data collection. Face and content validity was employed in which the supervisor went through the instrument and correct and accept it thus checking the validity of the instrument. The test-retest approach was used to test the reliability of the instrument. Ethical considerations were ensured and confidentiality respected. Data was collected and presented in tables and results interpreted. Chi square which is a measure of non-parametric investigation was employed in order to analyse the observed and expected scores, with the probability value was set at 0.05 levels of significance on a two-tailed test of the hypotheses formulated for the study. Findings of the study established significant socio-cultural factors that hinder female sport participation among female students in the Centre for Biokinetics, Recreation and Sport Science. The study concluded that the low level participation of female students at the University of Venda might be as a result of socio-cultural factors.

Keywords: female students, sport participation, University of Venda, biokinetic

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Authors: K. Abuzayan, H. Alabed, J. Ezarrugh, M. Agila

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Static and dynamic balance are essential in daily and sports life. Many factors have been identified as influencing static balance control. Therefore, the aim of this study was to apply the (XCoM) method and other relevant variables (CoP, CoM, Fh, KE, P, Q, and, AI) to investigate sport related activities such as hopping and jumping. Many studies have represented the CoP data without mentioning its accuracy, so several experiments were done to establish the agreement between the CoP and the projected CoM in a static condition. Five male healthy (Mean ± SD:- age 24.6 years ±4.5, height 177 cm ± 6.3, body mass 72.8 kg ± 6.6) participated in this study. Results found that The implementation of the XCoM method was found to be practical for evaluating both static and dynamic balance. The general findings were that the CoP, the CoM, the XCoM, Fh, and Q were more informative than the other variables (e.g. KE, P, and AI) during static and dynamic balance. The XCoM method was found to be applicable to dynamic balance as well as static balance.

Keywords: centre of mass, static balance, dynamic balance, extrapolated centre of mass

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Authors: Tanimola Kazeem Abiodun

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In the paper, attempt was made to investigate the impact of international trade on economic growth at the disaggregate level both from the theoretical and economic angle. The study in its contribution examines this impact at the disaggregated level. To this end, a hypothesis was formulated to investigate the short ?run and long run impact of international trade on growth in the country. In the econometrics investigation that follow, international trade was disaggregated to export and imports and their short run and long run effect on growth was examined. Also, the aggregate international trade was also investigated to see the long run effects of its own growth. The results of the findings indicate that; both export and import impact significantly to growth in the short run. The long-run impact of export on growth was found to be positive, significant and stable both. Engle-Granger co integration test and error correlation mechanism were applied to these long run relationships. For the import, while the short run was found to be positive and significant on its impact on growth, the long run relationship was found to be negative but not significant. Therefore, it is thus recommended among others that the country should engage more on export promotion drives.

Keywords: international trade, disaggregated, import, export, econometrics, trade, economic growth, foreign trade, import, export

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Authors: Abdelkader Guendouz, Fatima Zohra Adel

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Since about two decades, the Algerian government created a new instrument in the field of its fiscal policy, which is the FRR (Fonds de Régulation des Recettes). The FRR is a sovereign fund, which the initial role was saving the surplus generated by the fixation of a referential oil price to establish the state budget in the aim equilibrium between budgetary incomes and public expenditures. After a while, the government turns to use this instrument in boosting the public investment more than keeping for funding a deficit budget in periods of crisis. This lead to ask some justified questions about the efficiency of this sovereign fund and its real role.

Keywords: FRR sovereign fund, public expenditures, public investment, efficiency

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Authors: Yustina Trihoni Nalesti Dewi

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Gross violations of human rights consisting of crime against humanity, genocide and war crime, are serious international crimes. Prohibition such crimes have obtain to the level of international norms of jus cogens based on conventions and customary international law. Therefore, the duty of the state to punish the crimes is obligatory. The legal consequence of jus cogens is obligation erga omnes which are a matter of state responsibility. When a state is not willing or neglects to do so in its national law, it results in state responsibility to be imposed by international human rights and humanitarian law. This article reviews the concept of jus cogens and obligatio erga omnes that appear as two sides of the same coin. It also explains how international human rights and humanitarian law set down the duty of the state to punish gross violations of human rights.

Keywords: duty of states, gross violations of human rights, jus cogens, obligatio erga omnes

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Authors: Sazzad Hossain Talukder

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Survival in the competitive international market with unforeseen environmental contingencies has always been a concern of the firms that led to adopting different strategies to deal with different situations. Language strategy is considered to enhance the international performance of a firm by organizing language diversity and fostering communications within and outside the firm. Yet there is a lack of theoretical attention or model development on the role of language strategy on firm international survival. From resource dependence perspective, the adoption of language strategy and its relationship with firm survival are determined by the firm´s capability to prevent dependency concentration and/or increase relative power on the external environment. However, the impact of language strategy on firm survival is complex and multifaceted as the strategy influence firm performance indirectly through communication, coordination, learning and value creation. The evidence of various types of language strategies and different forms of firm survival also bring in complexities to understand the effects of a language strategy on the international survival of a firm. Based on language literatures and resource dependence logic, certain propositions are developed to conceptualize the relationship between language strategy and firm international survival in this conceptual paper. For the purpose of this paper, a conceptual model is proposed to examine how different kinds of language strategy foster reduction of resource dependency that lead to firm international survival in respond to local responsiveness and global integration. In this proposed model, it is theorized that language strategy has a positive relationship with the international survival of the firm, as the strategy is likely to reduce external resource dependency and increase the ability to continue independent operations both in short and long term.

Keywords: language strategy, language diversity, firm international survival, resource dependence logic

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Authors: Claire Kaplaan P. Lafadchan

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The study looked into the peace pact system as a customary way of solving cases in Bontoc, Mountain Province. To study the importance of the peace pact system, the study focused on the extent of attainment of the objectives of peace pact system in Bontoc, Mountain Province; the extent of attainment of the procedure; level of satisfaction on the peace pact system; and, the degree of the seriousness of the problems encountered. The study aimed to see the importance of peace pact system as a means of amicable settlement in Bontoc, Mountain Province as the researcher is concerned on the conflicts evolving between natives of Bontoc and people from other municipalities. Questionnaire-checklist was used as the main data-gathering tool. It was found out in the study that the goals and objectives of peace pact is much attained; the procedures is much attained; the level of satisfaction is much satisfied; and the problems encountered is moderately serious. Despite the fact that peace pact participants are all doing their part in the process, still, there are problems they encountered.

Keywords: peace pact, amicable settlement, bontoc, pagta, pechen

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Authors: Sean Taylor, Sayantani Neogi, Julia Budka

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The important Egyptian New Kingdom settlement at Sai Island Sudan presents a complex stratigraphic archaeological record. This study takes the theoretic stance that it, not just the archaeological material being retrieved from the deposits but the sediments themselves that reflect human agency. These anthropogenic sediments reflect the use life of the buildings and spaces between and the post-depositional processes which operate to complicate the archaeological record. The application of soil micromorphology is a technique that takes intact block samples of sediment and analyses them in thin section under a petrological microscope. A detailed understanding of site formation processes and a contextualized knowledge of the material culture can be understood through careful and systematic observation of the changing facies. The major findings of the study are that soil and sedimentary information can provide valuable insights to the use of space during the New Kingdom and elucidate the complexities of site formation processes.

Keywords: anthropogenic sediment, New Kingdom, site formation processes, soil micromorphology

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Authors: Iris Maria Velez Osorio

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There has been in the last decade a concern about the environment, particularly about clean and enough water for human consumption but, some enterprises had some trouble to understand the limited resources in the environment. This research tries to understand how some industries are better oriented to the preservation of the environment through investment for strategic management of scarce resources and try in the best way possible, the contaminants. It was made an industry classification since four different group of theories for Corporate Social Responsibility agree with variables of: investment in environmental care, water protection, and residues treatment finding different levels of commitment with CSR.

Keywords: corporate social responsibility, environment, strategic management, water

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Authors: Vertika Goswami, Gargi Sharma

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The rapid evolution of fintech has led to the rise of robo-advisor platforms that utilize artificial intelligence (AI) and machine learning to offer personalized investment solutions efficiently and cost-effectively. This research paper conducts a comprehensive sentiment analysis of investor experiences with these platforms, employing natural language processing (NLP) and sentiment classification techniques. The study investigates investor perceptions, engagement, and satisfaction, identifying key drivers of positive sentiment such as clear communication, low fees, consistent returns, and robust security. Conversely, negative sentiment is linked to issues like inconsistent performance, hidden fees, poor customer support, and a lack of transparency. The analysis reveals that addressing these pain points—through improved transparency, enhanced customer service, and ongoing technological advancements—can significantly boost investor trust and satisfaction. This paper contributes valuable insights into the fields of behavioral finance and fintech innovation, offering actionable recommendations for stakeholders, practitioners, and policymakers. Future research should explore the long-term impact of these factors on investor loyalty, the role of emerging technologies, and the effects of ethical investment choices and regulatory compliance on investor sentiment.

Keywords: artificial intelligence in finance, automated investment, financial technology, investor satisfaction, investor sentiment, robo-advisors, sentimental analysis

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Authors: Seane Mabitsela

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The Territory of Namibia was entrusted to South Africa as a Mandate under the League of Nations Covenant. After the dissolution of the League of Nations and the commencement of United Nations operations, South Africa's conception of its legal obligations under the mandate varied from those of other members of the United Nations. Because of that, the General Assembly requested the International Court of Justice for an Advisory Opinion on the international obligations of South Africa arising therefrom. The International Court of Justice declared that South West Africa was still a mandatory territory under the Covenant of the League of Nations. It also held that South Africa continued to transmit petitions from inhabitants of the territory, the supervisory functions to be exercised by the United Nations, to which the annual reports and the petitions were to be submitted. Subject to this judgement, the question of South West Africa remained a dispute relating to the mandate brought before the International Court of Justice against South Africa. The International Court of Justice and South Africa dispute reflected the nature of the Namibian inhabitants’ appeal for recognition at the United Nations.

Keywords: International Court of Justice, Namibia, petitions, United Nations

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Authors: Huei-Fu Lu

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Hosting international major sports events (MSEs) has become a globalized strategy for many countries. Most modern countries believe that MSEs can bring the hosting countries with substantial and considerable economic and non-economic benefits; so many cities also input a huge of resources to bid for hosting MSEs. Despite the growing importance of MSEs, limited longitudinal analysis has been carried out to understand and explain the long term economic effects of such events. This paper is to continue the focus of previous literature on the economic effects of hosting MSEs. The study periods are from 1950 to 2014 and the secondary macro-economic data are selected from the countries that have hosted the Asian Games and the Olympic Games (including summer and winter) to precede a longitudinal analysis. A comparison of the real economic growth rate, investment, employment and international trade of hosting countries and the duration of these economic effects are also explored and discussed. Based on the countries’ attributes and locating area, aiming to ascertain whether hosting MSEs is economically worthwhile and whether the economic effects from MSEs are realized as anticipated. The results indicate that hosting MSEs to create positive economic effects like GDP growth or long-term employment may be a myth even for developing countries. However, the empirical findings can provide the sport management or authority with longitudinal and comprehensive elaboration for biding or hosting MSEs in the future.

Keywords: Asian Games, economic effects, major sports events (MSEs), olympic games

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Authors: Shivani Yadav

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The paper will first elaborate on the concept of soft power as formulated by Joseph Nye, who argues that soft power is as important as hard power in international politics as it replaces coercion with non-coercive forms of co-optation and attraction. The central tenet of the paper is to extrapolate the continued relevance of soft power in international relations in the 21st century. It is argued that the relevance of soft power, in concurrence with hard power, is on the rise in the international system. This is found to be emanating out of two factors. First, the state-centric practice of international relations has expanded to allow other actors to participate in policymaking. This has led to the resources for power generation to become varied, largely move away from the control of governments, and to produce both hard and soft power attributes. Second, as the currency of coercive power seems to be devaluing in global politics, the role of intangible factors like soft power is getting more important in policymaking. The paper will then go on to elaborate on the critiques of the formulation of soft power from various perspectives, as well as the defenses to these critiques presented by soft power proponents. The paper will reflect on the continued relevance of soft power in international politics by giving the example of India, and how soft power has continued to serve its policy objectives over the years. It is observed that even as India is recognized as a rising superpower today, yet it has made a continuous effort in cultivating its soft power resources, which have proven to be its assets in furthering its foreign policy interests. In conclusion, the paper makes the point that soft power, in conjunction with hard power, will shape international politics in the coming times.

Keywords: foreign policy, India’s soft power, international politics, smart power, soft power

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Authors: A. V. Popa, C. Barna, V. Mihalache

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Being the largest port at the Black Sea and functioning as a civil and military nodal point between Europe and Asia, Constantza Port has become a potential target on the terrorist international agenda. The authors use qualitative research based on both face-to-face and online semi-structured interviews with relevant stakeholders (top decision-makers in the Romanian Naval Authority, Romanian Maritime Training Centre, National Company "Maritime Ports Administration" and military staff) in order to detect potential vulnerabilities which might be exploited by terrorists in the case of Constantza Port. Likewise, this will enable bringing together the experts’ opinions on potential mitigation measures. Subsequently, this paper formulates various counter-terrorism policies to enhance the robustness of Constantza Port under potential terror attacks and connects them with the attributions in the field of critical infrastructure protection conferred by the law to the lead national authority for preventing and countering terrorism, namely the Romanian Intelligence Service. Extending the national counterterrorism efforts to an international level, the authors propose the establishment – among the experts of the NATO member states of the Wider Black Sea Region – of a platform for the exchange of know-how and best practices in the field of critical infrastructure protection.

Keywords: Constantza Port, counter-terrorism policies, critical infrastructure protection, security, Wider Black Sea Region

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Authors: Baohua Yu

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In line with wider tends in the expansion of international student mobility, the number of international higher degree research students has grown at a significant rate in recent years. In particular, Australia has become a hub for attracting international higher degree research students from around the world. However, research has identified that international higher degree research students often encounter a wide range of academic and socio-cultural challenges in adapting to their new environment. Moreover, this can have a significant bearing on their levels of satisfaction with their studies. This paper outlines the findings of a mixed method study exploring the experiences and perceptions of international higher degree research students in Australia. Findings revealed that IRHD students’ overall and academic satisfaction in Australia were highly related to each other, and they were strongly influenced by their learning and research, moderately influenced by co-national support and intercultural contact ability. Socio-cultural satisfaction seemed to belong to a different domain from academic satisfaction because it was explained by a different set of variables such as living and adaptation and intercultural contact ability. In addition, the most important issues in terms of satisfaction were not directly related to academic studies. Instead, factors such as integration into the community, interacting with other students, relationships with supervisors, and the provision of adequate desk space were often given the greatest weight. Implications for how university policy can better support international doctoral students are discussed.

Keywords: international higher degree research students, academic adaptation, socio-cultural adaptation, student satisfaction

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Authors: James Taylor

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This paper considers the political, geo-philosophical musings of Deleuze and Guattari on spatialisation, place and movement in relation to the religious nomad (wandering ascetics and reclusive forest monks) inhabiting the borderlands of Thailand. A nomadic science involves improvised ascetic practices between the molar lines striated by modern state apparatuses. The wandering ascetics, inhabiting a frontier political ecology, stand in contrast to the appropriating, sedentary metaphysics and sanctifying arborescence of statism and its corollary place-making, embedded in rootedness and territorialisation. It is argued that the religious nomads, residing on the endo-exteriorities of the state, came to represent a rhizomatic and politico-ontological threat to centre-nation and its apparatus of capture. The paper also theorises transitions and movement at the borderlands in the context of the state’s monastic reforms. These reforms, and its pervasive royal science, problematised the interstitial zones of the early ascetic wanderers in their radical cross-cutting networks and lines, moving within and across demarcated frontiers. Indeed, the ascetic wanderers and their allegorical war machine were seen as a source of wild, free-floating charisma and mystical power, eventually appropriated by the centre-nation in it’s becoming unitary and fixed.

Keywords: Deleuze and Guattari, religious nomad, centre-nation, borderlands, Buddhism

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Authors: Hina Munir Abbasi

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The current paper examines the relationship and diversification ability of Islamic stock indices /conventional stocks indices and Real Estate Investment Trust (REITs).To represent conditional dependency between stocks and REITs in a more realistic way, new modeling technique, time-varying copula with switching dependence is used. It represents reliance structure more accurately and realistically than a single copula regime as dependence may alter between positive and negative correlation regimes with time. The fluctuating behavior of markets has significant impact on economic variables; especially the downward trend during crisis. Overall addition of Real Estate Investment Trust in stocks portfolio reduces risks and provide better diversification benefit. Results varied depending upon the circumstances of the country. REITs provides better diversification benefits for Islamic Stocks, when both markets are bearish and can provide hedging benefit for conventional stocks portfolio.

Keywords: conventional stocks, real estate investment trust, copula, diversification, risk spillover, safe heaven

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Authors: Xiangjun Kong, Dongning Yao, Yuanjia Hu

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Therapeutic antibodies have become the most valuable and successful class of biopharmaceutical drugs, with a huge market potential and therapeutic advantages. Antibody patents are, accordingly, extremely important. As the technological limitation of the early stage of this field, the U. S. Patent and Trademark Offices (USPTO) have issued guidelines that suggest an exception for patents claiming a genus of antibodies that bind to a novel antigen, even in the absence of any experimental antibody production. This 'antibody exception' allowed for a broad scope on antibody claims, and led a global trend to patent antibodies without antibodies. Disputes around the pertinent patentability and written description issues remain particularly intense. Yet the validity of such patents had not been overtly challenged until Centocor v. Abbott, which restricted the broad scope of antibody patents and hit the brakes on the 'antibody exception'. The courts tend to uphold the requirement for adequate description of antibodies in the patent specifications, to avoid overreaching antibody claims. Patents following the 'antibody exception' are at risk of being found invalid for inadequately describing what they have claimed. However, the relation between the court and USPTO guidelines remains obscure, and the waning of the 'antibody exception' has led to further disputes around antibody patents. This uncertainty clearly affects patent applications, antibody innovations, and even relevant business performance. This study will give an overview of the emergence, debate, and waning usage of the 'antibody exception' in a number of enlightening cases, attempting to understand the specific concerns and the potential influence of antibody patents. We will then provide some possible strategies for antibody patenting, under the current considerations on the 'antibody exception'.

Keywords: antibody exception, antibody patent, USPTO (U. S. Patent and Trademark Offices) guidelines, written description requirement

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Authors: Seongryong Kang, Woonjin Kim, Sungjoo Lee

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Under the environment of fierce competition and globalized economy, international technology collaboration has gained increasing attention as a way to improve innovation efficiency. While international technology transfer helps a firm to acquire necessary technology in a short period of time, it also has a risk; embedding external technology from overseas partners may cause a transaction cost due to the regional, cultural and language barriers, which tend to offset the benefits of such transfer. Though a number of previous studies have focused on the effects of technology in-transfer on firm performance, few have conducted in the context of international technology transfer. To fill this gap, this study aims to investigate the impact of international technology in-transfer on firm performance – both innovation and financial performance, with a particular emphasis on the diversity and intensity of such transfer. To do this, we adopted technology balance payment (TBP) data of Korean firms from 2010 to 2011, where an intermediate regression analysis was used to identify the intermediate effects of absorptive capacity. The analysis results indicate that i) the diversity and intensity of international technology transfer influence innovation performance by improving R&D capability positively; and ii) the diversity has a positive impact but the intensity has a negative impact on financial performance through the intermediation of R&D intensity. The research findings are expected to provide meaningful implications for establishing global technology strategy and developing policy programs to facilitate technology transfer.

Keywords: diversity, intensity, international technology acquisition, performance, technology transfer

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Authors: Tatyana Kim

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This paper seeks to explore the academic and sociocultural adaptation experiences of international students studying in Kazakhstan. Using multiple case study design, the research will be undertaken at two private Kazakhstani universities having a relatively large and diverse body of international students. Thus, 20 full-time undergraduate international students from the sampled universities will be interviewed to identify factors that impede or, vice versa, facilitate their academic and sociocultural adaptation in Kazakhstan, as well as to reveal how universities support these students in the process of their adaptation. To investigate the issue more deeply, it was decided to explore the university administrators’ viewpoint of the issue. Thus, six university administrators who are in charge of recruiting and supporting international students and, thus, are particularly knowledgeable about their experiences, have been recruited for this study. Identification of both students’ and administrators’ perspectives on the matter may help reveal miscommunication, if any, and gain greater insight into the phenomenon. The data will be collected between November 5, 2019, and December 10, 2019. Preliminary findings will be presented at the conference. Lysgaard’s U-curve adjustment theory (1955) will be employed as a guiding framework to discuss and interpret the findings.

Keywords: academic adaptation, adaptation, higher education, international students, sociocultural adaptation

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Authors: Manoela Cabo da Silva, Elton Fernandes, Ricardo Pacheco, Heloisa Pires

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This study examined cointegration and causal relationships between economic growth and regular domestic and international passenger air transport in Brazil. Total passengers embarked and disembarked were used as a proxy for air transport activity and gross domestic product (GDP) as a proxy for economic development. The test spanned the period from 2000 to 2015 for domestic passenger traffic and from 1995 to 2015 for international traffic. The results confirm the hypothesis that there is cointegration between passenger traffic series and economic development, showing a bi-directional Granger causal relationship between domestic traffic and economic development and unidirectional influence by economic growth on international passenger air transport demand. Variance decomposition of the series showed that domestic air transport was far more important than international transport to promoting economic development in Brazil.

Keywords: air passenger transport, cointegration, economic growth, GDP, Granger causality

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Authors: Enayatallah Najari, Ali Noorzad, Mehdi Siavoshnia

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One of the most decent and low-cost options in soft clayey soil improvement is using stone columns to reduce the settlement and increase the bearing capacity which is used for different ways to do this in various projects with diverse conditions. In the current study, it is tried to evaluate this improvement method in 4 different weak soils with diverse properties like specific gravity, permeability coefficient, over consolidation ratio (OCR), poison’s ratio, internal friction angle and bulk modulus by using ABAQUS 3D finite element software. Increment and decrement impacts of each mentioned factor on settlement and lateral displacement of weak soil beds are analyzed. In analyzed models, the properties related to sand columns and geosynthetic cover are assumed to be constant with their optimum values, and just soft clayey soil parameters are considered to be variable. It’s also demonstrated that OCR value can play a determinant role in soil resistance.

Keywords: stone columns, geosynthetic, finite element, 3D analysis, soft soils

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Authors: Ali Arabkheradmand, Enayat A. Shabani, Shabnam Ranjbar Nikkhoo

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Historical and ancestral bonds of the countries in the Middle East have led to similarities in culture and context of their societies. In addition, economic resources, such as the oil industry, have generally been an integrative point in the region. Higher education of a country is influenced by different national and international factors and regarding the mentioned bonds, it is inviting to study the development of the countries of the Middle East in higher education and draw some practical implications which can be used in the educational policy-making of the region. This review includes a data analysis on the population of international students in the countries of the Middle East. As its second objective, a review study on the successful countries, that is those which host the highest number of international students and the strategies they have developed to reach this state among the countries of the region has been conducted. Suggestions are made as to the strategies in higher education systems of these countries which could prove useful and practical in the development of internationalization of higher education in the region, specifically with regard to the recruitment of international students.

Keywords: internationalization of higher education, international student recruitment, Middle East countries, educational policy making

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Authors: Khadiga Kahwa, Aniza Ismail

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Depression, anxiety, and stress are associated with decreased role functioning, productivity, and quality of life. International students are more prone to psychological distress as they face many stressors while studying abroad. The objectives of the study were to determine the prevalence and associated factors of depression, anxiety, and stress among international students, their help-seeking behavior, and their awareness of the available on-campus mental support services. A cross-sectional study with a purposive sampling method was performed on 280 international students at Universiti Kebangsaan Malaysia (UKM) between the age of 18 and 35 years. The Depression Anxiety Stress Scale-21 (DASS-21) questionnaire was used anonymously to assess the mental health of students. Socio-demographic, help-seeking behavior, and awareness data were obtained. Independent sample t-test, one-way ANOVA test, and multiple linear regression were used to explore associated factors. The overall prevalence of depression, anxiety, and stress among international students were 58.9%, 71.8%, and 53.9%, respectively. Age was significantly associated with depression and anxiety. Ethnicity showed a significant association with depression and stress. No other factors were found to be significantly associated with psychological distress. Only 9.6% of the international students had sought help from on-campus mental support services. Students who were aware of the presence of such services were only 21.4% of the participants. In conclusion, this study addressed the gap in the literature on the mental health of international students and provided data that could be used in intervention programs to improve the mental health of the increasing number of international students in Malaysia.

Keywords: anxiety, depression, stress, help-seeking behavior, students

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Authors: Mohammad Maruf Hasan

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Foreign Direct Investment (FDI) has been increased at a remarkable position around the globe in which emerging economies are getting more FDI compared to industrialized economies. This study aims to examine the determinants of inward FDI flows in Bangladesh. To estimate the long and short-run impact of the FDI determinants for 1996-2020, we employed the Autoregressive-Distributed Lag (ARDL) model. Results show that: (1) macroeconomic determinants, such as economic growth, infrastructure, and market size, have a significant and strong positive effect.(2) Inflation exchange rate shows insignificant effects, while trade openness has mixed (short-run negative, long-run positive) effects on FDI inflows in both the long and short run. (3) Current institutional determinants rule of law has a positive effect on FDI inflows but is statistically insignificant, political stability has a negative, and the rule of law has a considerable beneficial impact on inflows of FDI. (4) The macroeconomic factors have been determined to impact Bangladesh's FDI inflows. Finally, a stable macroeconomic climate is more effective at luring FDI, as this study confirms. From a policy perspective, this study will help the government and policymakers to make a new investment policy.

Keywords: determinants, FDI, ARDL, Bangladesh

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Authors: Fedorova Elena

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In this article, we draw a distinction between two important functions of public policy in private international law. The first function is widely recognized and relates to the prevention of application of foreign laws and enforcement of foreign court judgments whenever their effects are incompatible with the domestic legal system of the forum. This effectively protects sovereign rights of the forum state as it allows to resist against the undesirable effects of foreign law-making and law-enforcement policies. The second function is less obvious, but not less important. As the internal private legal relationships, international private relationships are usually governed by rules of public policy, to which the parties can not derogate by mutual agreement. Thefore, for international private law relations public policy has a different function than previously mentioned: in this case, the public policy acts as a defense against unacceptable effects of the party autonomy. Thus, this second function of public policy consists in the limitation of the party autonomy wich effects would be unacceptable for the local legal system. In the frame of this second function the author will analyse two types of public policy which can limit the party autonomy: « substantial » public policy (which regulates the substance of international legal relationship) and « conflictual » public policy (which regulates the party autonomy to choose the law applicable for the substance of relationship). The author provides an analysis of these functions of the public policy in the field of international contract law because of the important role of the principle of party autonomy for international contract relations.

Keywords: public policy, general theory of private international law, substantial public policy, conflictual public policy

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Authors: Akbar

Abstract:

Pros and cons of the capital punishment in Indonesia have been out of the date. The discourse of capital punishment has no relevance to the theory of punishment and theories of cultural relativism. In fact, the provisions of exceptions to the right to life by administering the death penalty against the perpetrators of serious crimes in Indonesia is a narrow perspective that does not pay attention to the development of the punishment of the crime. This thing is aggravated by an error to understand the natural right and legal right where the prohibition of those rights is result from a failure to distinguish the characteristic of the rights and to remember the raison d’être of law. To parse the irrational above, this paper will try to analyze normatively the error referring to the complementary theory between the sources of international law and the sources of municipal law of Indonesia. Both sources of the law above should be understood in the mutually reinforcing relationship enforceability because of false perceptions against those will create the disintegration between international law and municipal law of Indonesia. This disintegration is explicit not only contrary to the integrative theory of international law but also integrative theory of municipal law of Indonesia.

Keywords: capital punishment, municipal law, right to life, international law, the raison d’être of law, complementary theory, integrative theory

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Authors: Bhavana Gulaty, Arshia Chaudhri

Abstract:

Great civic projects contribute integrally to a city, and every city undergoes a recurring cycle of urban transformations and regeneration by their insertion. The M.I.C.E. (Meetings, Incentives, Convention and Exhibitions) industry is the forbearer of one category of such catalytic civic projects. Through a specific focus on M.I.C.E. destinations, this paper illustrates the multifarious dimensions that urban catalysts impact the city on S.P.U.R. (Seed. Profile. Urbane. Reflections), the theoretical framework of this paper aims to unearth these dimensions in the realm of the COEX (Convention & Exhibition) biosphere. The ‘COEX Biosphere’ is the filter of such catalysts being ecosystems unto themselves. Like a ripple in water, the impact of these strategic interventions focusing on art, culture, trade, and promotion expands right from the trigger; the immediate context to the region and subsequently impacts the global scale. These ripples are known to bring about significant economic, social, and political and network changes. The COEX inventory in the Asian context has one such prominent addition; the proposed India International Convention and Exhibition Centre (IICC) at New Delhi. It is envisioned to be the largest facility in Asia currently and would position India on the global M.I.C.E map. With the first phase of the project scheduled to open for use in the end of 2019, this flagship project of the Government of India is projected to cater to a peak daily footfall of 3,20,000 visitors and estimated to generate 5,00,000 jobs. While the economic benefits are yet to manifest in real time and ‘Good design is good business’ holds true, for the urban transformation to be meaningful, the benefits have to go beyond just a balance sheet for the city’s exchequer. This aspect has been found relatively unexplored in research on these developments. The methodology for investigation will comprise of two steps. The first will be establishing an inventory of the global success stories and associated benefits of COEX projects over the past decade. The rationale for capping the timeframe is the significant paradigm shift that has been observed in their recent conceptualization; for instance ‘Innovation Districts’ conceptualised in the city of Albuquerque that converges into the global economy. The second step would entail a comparative benchmarking of the projected transformations by IICC through a toolkit of parameters. This is posited to yield a matrix that can form the test bed for mapping the catalytic trajectory for projects in the pipeline globally. As a ready reckoner, it purports to be a catalyst to substantiate decision making in the planning stage itself for future projects in similar contexts.

Keywords: catalysts, COEX, M.I.C.E., urban transformations

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Authors: Mohammad Saraj Sharifzai, Keisuke Kitagawa, Mohammad Kamil Halimee, Javid Habib, Daishi Sakaguchi

Abstract:

The overall goal of this paper is to examine the suitability and potential of the policies addressing the sustainability and affordability of housing for returnees, and to determine the impact of this policy on housing delivery for Afghan refugees. Housing is a central component of the settlement experience of refugees. A positive housing situation can facilitate many aspects of integration. Unaffordable, and unsafe housing, however, can cause disruptions in the entire settlement process. This paper aims to identify a suite of built forms for housing that is both affordable and environmentally sustainable for Afghan refugees. The result was the development of a framework that enables the assessment of the overall performance of various types of housing development in all zones of the country. There is very little evidence that the present approach of housing provision to the vagaries of market forces has provided affordable housing, especially for Afghan refugees. There is a need to incorporate social housing into the policy to assist people who cannot afford to have their own houses.

Keywords: Afghan refugees, housing policy, affordability, social housing, housing provision, environmental sustainability principles, resettlement

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