Search results for: mix of earned and contributed capital

Authors: Olurankinse Felix

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Local governments in Ondo State Nigeria are the third tier of government saddled with the responsibility of providing governance and economic services at the grassroots. To be able to do this, the Constitution of the Federal Republic of Nigeria provided that a proportion of Federation Account be allocated to them in addition to their internally generated revenue. From the allocation and other incidental sources of revenue, the local governments are expected to provide basic infrastructures and other social amenities to better the lots of the rural dwellers. Nevertheless, local governments’ performances in terms of provision of social amenities are without questioning and quite not encouraging. Assessing the performance of local governments in this period of dearth and scarcity of resources is highly indispensable more so that the activities of local governments’ staff are bedeviled and characterized with fraud, corruption and mismanagement. Considering the direct impact of the consequences of their action on the living standard of the rural dwellers therefore calls for the need to evaluate their level of performances using capital budgeting approach. The paper being a time series study adopts the survey design. Data were obtained through secondary source mainly from the Annual financial statements and publication of approved budgets estimates covering the period of study (2008-2012). The use of ratio analysis was employed in analyzing the comparative level of performances of the local governments under study. The result of the study shows that less than 30% of the local governments were able to harness the budgetary allocation to provide amenities to the beneficiaries while majority of the local governments were involved in unethical conduct ranging from theft of fund, corruption, diversion of funds and extra-budgetary activities. Also, there is poor internally generated revenue to complement the statutory allocation and besides, the monthly withholding of larger portions of local government share by the state in the name of joint account were also seen as contributory factors. The study recommends the need for transparency and accountability in public fund management through the oversight function of the state house of assembly. Also local government should be made to be autonomous and independent of the state by jettisoning the idea of joint account.

Keywords: performance, transparency and accountability, capital budgeting, joint account, local government autonomy

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Authors: Khadija Amin

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The significant contribution of foreign investment in promoting economic recovery, especially in countries recovering from conflict, is generally recognized. This study examines the influence of foreign investment on the economic development of countries that have had long-lasting internal conflicts. The study examines the complex correlation between foreign investment and economic progress using the production function framework based on endogenous growth theory. In addition to foreign investment, the research considers a range of factors that affect economic growth, such as trade dynamics, the spread of information, attempts to promote peace, changes in the labor market, and the accumulation of domestic capital. The study challenges common beliefs by revealing a statistically negligible negative association between GDP growth and foreign investment (FI) inflows in post-war economies. The existing literature highlights the positive impact of trade and foreign investment on economic growth. However, this study emphasizes that these impacts are complex and depend on various contextual factors such as trade policies, infrastructure development, domestic investment levels, human capital development, and macroeconomic stability. The results emphasize the crucial significance of foreign investment in stimulating development while also drawing attention to the intricacies of precisely assessing its economic consequences. Measuring the economic impact of foreign investment is a difficult task that requires detailed analysis considering many contextual elements and changing socioeconomic conditions.

Keywords: economic grouths, foreign investment, trade policies, domestic investment

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Authors: Cristina Costa-Lobo, Ana Medeiros, Ana Campina

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This study refers to the appropriateness of the psychopedagogical intervention programs focused on the adjustment and psychological well-being of children with characteristics of giftedness and the interests of promoting specialized and permanent follow-up to these children. It was intended to find out the impact on perceived self-efficacy in children with characteristics of giftedness after the frequency of a psychopedagogical intervention program. For this was applied to Multidimensional Scale Perceived Self-Efficacy, in two times (pre and post program frequency), in a quasi-experimental design. Innovative data are presented in reports to the relationship of perceived self-efficacy with giftedness, highlighting the evidence of this program focusing on the development of personal, social and emotional skills, applied to 20 children with characteristics of giftedness, in Northern Portugal, in the 2014-2015 school year, have no influence on perceived self-efficacy of children with characteristics of giftedness. The main implication of this research is congruent with the conclusions of studies that point that the greatest challenge in the education of children with characteristics of giftedness is to extend the traditional investment in intellectual production and creative capital to include an equal investment in social capital and the development of competencies of executive functions, dimensions that development programs stimulate. This study appeals to the need of children with characteristics of giftedness to be targets of psychopedagogical intervention programs with the constant specialization and constant updating of the knowledge of the professionals who work with them, motivated by being individuals with such specific and ever-changing characteristics reflecting an inclusive school life.

Keywords: giftedness, perceived self-efficacy, EMAEP, psychopedagogical intervention programs

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Authors: Michael Adedotun Oke

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This paper, therefore, under study the various multiplier usages of the different Animal Dungs, from the animals such as Rabbits, Cows, Fishes, Sheep, and Poultry manure in the areas council of the Federal Capital Territory Abuja, Nigeria. Thus the various observations, with the pictorial representation, that was taken with the field survey from the different farms in Gwagawalada. Shows that the rabbits dungs are being used in some of the vegetables and crop farms, which serves as the nutrients, reduces the cost of production, ensure profitability, which also increases the different vegetative growth, early maturity, and the development of the crop and this is also applicable to some crops like maize, sweet potatoes. While the manure of the poultry products are being incorporated to fish ponds and the cows dungs are being used to serve as some manure to some certain crops, e.g. Okro, Maize, Pepper. Which provides the necessary nutritious values, but the various number of quantity of different bags of the various application are lacking, and the time of usage, it is also a life germane questions, which there are needs for further adaptive research, that will be involved and the reintroduction of new technology, that will be used in terms of the different methodology such as broadcasting and ring applications, of the dungs at large, while the seasons of the various applications. Thus the paper, therefore, suggested a training programs and production of manuals that will guide the various applications and usage and the effective dissemination of the various used of the simple technology, that will advances and teaching of a new mode of and the time of applications and the various quantity to used, during the applications.

Keywords: animals, usage, livestock, dungs, feaces, gwagawalada

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Authors: Savas Yildiz

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The article assesses the performance of international aid donors to determine the sub-national distribution of their aid projects dependent on recipient countries’ governance. The present paper extends the scope from a cross-country perspective to a more detailed analysis by looking at the effects of institutional qualities on the sub-national distribution of foreign aid. The analysis examines geo-referenced aid project in 37 countries and 404 regions at the first administrative division level in Sub-Saharan Africa from the World Bank (WB) and the African Development Bank (ADB) that were approved between the years 2000 and 2011. To measure the influence of institutional qualities on the distribution of aid the following measures are used: control of corruption, government effectiveness, regulatory quality and rule of law from the World Governance Indicators (WGI) and the corruption perception index from Transparency International. Furthermore, to assess the importance of ethnic heterogeneity on the sub-national distribution of aid projects, the study also includes interaction terms measuring ethnic fragmentation. The regression results indicate a general skew of aid projects towards regions which hold capital cities, however, being incumbent presidents’ birth region does not increase the allocation of aid projects significantly. Nevertheless, with increasing quality of institutions aid projects are less skewed towards capital regions and the previously estimated coefficients loose significance in most cases. Higher ethnic fragmentation also seems to impede the possibility to allocate aid projects mainly in capital city regions and presidents’ birth places. Additionally, to assess the performance of the WB based on its own proclaimed goal to aim the poor in a country, the study also includes sub-national wealth data from the Demographic and Health Surveys (DSH), and finds that, even with better institutional qualities, regions with a larger share from the richest quintile receive significantly more aid than regions with a larger share of poor people. With increasing ethnic diversity, the allocation of aid projects towards regions where the richest citizens reside diminishes, but still remains high and significant. However, regions with a larger share of poor people still do not receive significantly more aid. This might imply that the sub-national distribution of aid projects increases in general with higher ethnic fragmentation, independent of the diverse regional needs. The results provide evidence that institutional qualities matter to undermine the influence of incumbent presidents on the allocation of aid projects towards their birth regions and capital regions. Moreover, even for countries with better institutional qualities the WB and the ADB do not seem to be able to aim the poor in a country with their aid projects. Even, if one considers need-based variables, such as infant mortality and child mortality rates, aid projects do not seem to be allocated in districts with a larger share of people in need. Therefore, the study provides further evidence using more detailed information on the sub-national distribution of aid projects that aid is not being allocated effectively towards regions with a larger share of poor people to alleviate poverty in recipient countries directly. Institutions do not have any significant influence on the sub-national distribution of aid towards the poor.

Keywords: aid allocation, georeferenced data, institutions, spatial analysis

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Authors: Jo Rhodes, Bruce Bergstrom, Peter Lok, Vincent Cheng

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The aim of this study is to determine key factors and processes for multinationals (MNCs) to develop an effective stakeholder engagement and sustainable development framework. A qualitative multiple-case approach was used. A triangulation method was adopted (interviews, archival documents and observations) to collect data on three global firms (MNCs). 9 senior executives were interviewed for this study (3 from each firm). An initial literature review was conducted to explore possible practices and factors (the deductive approach) to sustainable development. Interview data were analysed using Nvivo to obtain appropriate nodes and themes for the framework. A comparison of findings from interview data and themes, factors developed from the literature review and cross cases comparison were used to develop the final conceptual framework (the inductive approach). The results suggested that stakeholder engagement is a key mediator between ‘stakeholder network’ (internal and external factors) and outcomes (corporate social responsibility, social capital, shared value and sustainable development). Key internal factors such as human capital/talent, technology, culture, leadership and processes such as collaboration, knowledge sharing and co-creation of value with stakeholders were identified. These internal factors and processes must be integrated and aligned with external factors such as social, political, cultural, environment and NGOs to achieve effective stakeholder engagement.

Keywords: stakeholder, engagement, sustainable development, shared value, corporate social responsibility

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Authors: Cheng Sim Quah, Sandra Phek Lin Sim

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This study examined how individuals in their respective teams contributed to innovation performance besides defining the term of innovation in their own respective views. This study also identified factors that motivated University staff to contribute to the innovation products. In addition, it examined whether there is a significant relationship between professional training level and the length of service among university staff towards innovation and to what extent do the two variables contributed towards innovative products. The significance of this study is that it revealed the strengths and weaknesses of the university staff when contributing to innovation performance. Stratified-random sampling was employed to determine the samples representing the population of lecturers in the study, involving 123 lecturers in one of the local universities in Malaysia. The method employed to analyze the data is through categorizing into themes for the open-ended questions besides using descriptive and inferential statistics for the quantitative data. This study revealed that two types of definition for the term “innovation” exist among the university staff, namely, creation of new product or new approach to do things as well as value-added creative way to upgrade or improve existing process and service to be more efficient. This study found that the most prominent factor that propel them towards innovation is to improve the product in order to benefit users, followed by self-satisfaction and recognition. This implies that the staff in the organization viewed the creation of innovative products as a process of growth to fulfill the needs of others and also to realize their personal potential. This study also found that there was only a significant relationship between the professional training level and the length of service of 4-6 years among the university staff. The rest of the groups based on the length of service showed that there was no significant relationship with the professional training level towards innovation. Moreover, results of the study on directional measures depicted that the relationship for the length of service of 4 - 6 years with professional training level among the university staff is quite weak. This implies that good organization management lies on the shoulders of the key leaders who enlighten the path to be followed by the staff.

Keywords: innovation, length of service, performance, professional training level, motivation

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Authors: M. Alwetaishi

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One of the most common and traditional strategies in architecture is to design buildings passively. This is a way to ensure low building energy reliance with respect to specific micro-building locations. There are so many ways where buildings can be designed passively, some of which are applying thermal insulation, thermal mass, courtyard and glazing to wall ratio. This research investigates the impact of each of these aspects with respect to the hot and dry climate of the capital of Riyadh. Thermal Analysis Simulation (TAS) will be utilized which is powered by Environmental Design Simulation Limited company (EDSL). It is considered as one of the most powerful tools to predict energy performance in buildings. There are three primary building designs and methods which are using courtyard, thermal mass and thermal insulation. The same building size and fabrication properties have been applied to all designs. Riyadh city which is the capital of the country was taken as a case study of the research. The research has taken into account various zone directions within the building as it has a large contribution to indoor energy and thermal performance. It is revealed that it is possible to achieve nearly zero carbon building in the hot and dry region in winter with minimum reliance on energy loads for building zones facing south, west and east. Moreover, using courtyard is more beneficial than applying construction materials into building envelope. Glazing to wall ratio is recommended to be 10% and not exceeding 30% in all directions in hot and arid regions.

Keywords: sustainable buildings, hot and arid climates, passive building design, Saudi Arabia

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Authors: N. Singh, A. Khullar, R. Shrivastava, I. Singh, A. S. Kumar

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Steel forms the basis of any modern society and is essential to economic growth. India’s annual crude steel production has seen a consistent increase over the past years and is poised to grow to 300 million tons per annum by 2030-31 from current level of 110-120 million tons per annum. Steel industry is highly capital-intensive industry and to remain competitive, it is imperative that it invests in operational excellence. Due to inherent nature of the industry, there is large amount of variability in its supply chain both internally and externally. Production and productivity of a steel plant is greatly affected by the bottlenecks present in material flow logistics. The internal logistics constituting of transport of liquid metal within a steel melting shop (SMS) presents an opportunity in increasing the throughput with marginal capital investment. The study was carried out at one of the SMS of an integrated steel plant located in the eastern part of India. The plant has three SMS’s and the study was carried out at one of them. The objective of this study was to identify means to optimize SMS hot metal logistics through application of industrial engineering techniques. The study also covered the identification of non-value-added activities and proposed methods to eliminate the delays and improve the throughput of the SMS.

Keywords: optimization, steel making, supply chain, throughput enhancement, workforce productivity

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Authors: Sudipt Agarwal, Siddharth Verma, S. M. Iqbal, Hitik Kalra

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Natural gas as a fuel has created wonders, but on the contrary, the ill-effects of methane have been a great worry for professionals. The largest source of methane emission is the oil and gas industry among all industries. Methane depletes groundwater and being a greenhouse gas has devastating effects on the atmosphere too. Methane remains for a decade or two in the atmosphere and later breaks into carbon dioxide and thus damages it immensely, as it warms up the atmosphere 72 times more than carbon dioxide in those two decades and keeps on harming after breaking into carbon dioxide afterward. The property of a fluid to adhere to the surface of a solid, better known as adsorption, can be a great boon to minimize the hindrance caused by methane. Adsorption of methane during upstream processes can save the groundwater and atmospheric depletion around the site which can be hugely lucrative to earn profits which are reduced due to environmental degradation leading to project cancellation. The paper would deal with reasons why casing and cementing are not able to prevent leakage and would suggest methods to adsorb methane during upstream processes with mathematical explanation using volumetric analysis of adsorption of methane on the surface of activated carbon doped with copper oxides (which increases the absorption by 54%). The paper would explain in detail (through a cost estimation) how the proposed idea can be hugely beneficial not only to environment but also to the profits earned.

Keywords: adsorption, casing, cementing, cost estimation, volumetric analysis

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Authors: Yosra Ben Mhamed

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Most previous research that investigates the importance of earnings volatility for a firm’s value has focused on the effects of earnings volatility on the cost of capital. Many study illustrate that earnings volatility can reduce the firm’s value by enhancing the cost of capital. However, a few recent studies directly examine the relation between earnings volatility and subsequent earnings levels. In our study, we further explore the role of volatility in forecasting. Our study makes two primary contributions to the literature. First, taking into account the level of current firm’s performance, we provide causal theory to the link between volatility and earnings predictability. Nevertheless, previous studies testing the linearity of this relationship have not mentioned any underlying theory. Secondly, our study contributes to the vast body of fundamental analysis research that identifies a set of variables that improve valuation, by showing that earnings volatility affects the estimation of future earnings. Projections of earnings are used by valuation research and practice to derive estimates of firm value. Since we want to examine the impact of volatility on earnings predictability, we sort the sample into three portfolios according to the level of their earnings volatility in ascending order. For each quintile, we present the predictability coefficient. In a second test, each of these portfolios is, then, sorted into three further quintiles based on their level of current earnings. These yield nine quintiles. So we can observe whether volatility strongly predicts decreases on earnings predictability only for highest quintile of earnings. In general, we find that earnings volatility has an inverse relationship with earnings predictability. Our results also show that the sensibility of earnings predictability to ex-ante volatility is more pronounced among profitability firms. The findings are most consistent with overinvestment and persistence explanations.

Keywords: earnings volatility, earnings predictability, earnings persistence, current profitability

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Authors: Salako Emmanuel Adekunle

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Computer education is referred to as the knowledge and ability to use computers and related technology efficiently, with a range of skills covering levels from basic use to advance. Computer continues to make an ever-increasing impact on all aspect of human endeavours such as education. With numerous benefits of computer education, what are the insights of students on computer education? This study investigated the perception of senior secondary school students on computer education in Federal Capital Territory (FCT), Abuja, Nigeria. A sample of 7500 senior secondary schools students was involved in the study, one hundred (100) private and fifty (50) public schools within FCT. They were selected by using simple random sampling technique. A questionnaire [PSSSCEQ] was developed and validated through expert judgement and reliability co-efficient of 0.84 was obtained. It was used to gather relevant data on computer education. Findings confirmed that the students in the FCT had positive perception on computer education. Some factors were identified that affect students’ perception on computer education. The null hypotheses were tested using t-test and ANOVA statistical analyses at 0.05 level of significance. Based on these findings, some recommendations were made which include competent teachers should be employed into all secondary schools; this will help students to acquire relevant knowledge in computer education, technological supports should be provided to all secondary schools; this will help the users (students) to solve specific problems in computer education and financial supports should be provided to procure computer facilities that will enhance the teaching and the learning of computer education.

Keywords: computer education, perception, secondary school, students

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Authors: Fariba Dortaj, H. Bashir Nejad, Akram Dortaj,

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Investigate the Effectiveness of Mindfulness Education on Emotional, Psychological, and Social Well-being in 12th grade students in Tehran city is the aim of present study. The research method is semi-experimental with pretest-posttest design with control group. The statistical population of the study includes all 12th grade students of the 12th district of Tehran city in the academic year of 2017 to 2018. From the mentioned population, 60 students had earned low scores in three dimensions of Subjective Well-Being Questionnaire of Keyes and Magyar-Moe (2003) by using random sampling method and they were selected and randomly assigned into 2 experimental and control groups. Then experimental groups were received a Mindfulness protocol in 8 sessions during 2 hours. After completion of the sessions, all subjects were re-evaluated. Data were analyzed by using multivariate analysis of covariance. The findings of this study showed that in the emotional well-being aspect with the components of positive emotional affection (P < 0.025, F = 17/80) and negative emotions (P <0.025, F = 5/41), in the psychological well-being of the components Self-esteem (P < 0.008, F = 25.26), life goal (P < 0.008, F = 38.19), environmental domination (P <0.008, F=82.82), relationships with others (P < 0.008, F = 19.12), personal development with (P < 0.008, F = 87.38), and in the social well-being aspect, the correlation coefficients with (P<0.01, F=12/21), admission and acceptability with (P <0.01, F =18.09) and realism with (P <0.01, F = 11.30), there was a significant difference between the experimental and control groups and it can be said that the education of mindfulness affects the improvement of components of psychological, social and emotional well-being in students.

Keywords: mindfulness, emotional well-being, psychological well-being, social well-being

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Imen Latrous

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Family firm is the most common form of business organization in the world. Many family businesses rely heavily on their own capital to finance their expansion. This dependence on internal funds for their investment may be deliberate to maintain the family dominant position or involuntary as family firms have limited access to external funds. Our understanding of family firm’s choice to fund their own growth using existing capital is somewhat limited. The aim of this paper is to study whether the presence of a controlling family in the company either mitigates or exacerbates external financing constraints. The impact of family ownership on investment–cash flow sensitivity is ultimately an empirical question. We use a sample of 406 Canadian firms listed in Toronto Stock exchange (TSX) over the period 2005–2014 in order to explore this relationship. We distinguish between three elements in the definition of family firms, specifically ownership, control and management, to explore the issue whether family firms are more efficient organisational form. Our research contributes to the extant literature on family ownership in several ways. First, as our understanding of family firm’s investment cash flow sensitivity is somewhat limited in recession times, we explore the effect of family firms on the relation between investment and cash flow during the recent 2007-2009 financial crisis. We also analyse this relationship difference between family firms and non family firms before and during financial crisis. Finally, our paper addresses the endogeneity problem of family ownership and investment-cash flow sensitivity.

Keywords: family firms, investment–cash flow sensitivity, financial crisis, corporate governance

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Authors: Ender Su, Kai Wen Wong, I-Ling Ju, Ya-Ling Wang

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In this study, the systemic risk change of Taiwan’s banking sector is analyzed during the financial crisis. The risk expose of each financial institutions to the whole Taiwan banking systemic risk or vice versa under financial distress are measured by conditional Value-at-Risk (CoVaR) and conditional coherent expected shortfall (CoES). The CoVaR and CoES are estimated by using vector quantile autoregression (MVMQ-CaViaR) with the daily stock returns of each banks included domestic and foreign banks in Taiwan. The daily in-sample data covered the period from 05/20/2002 to 07/31/2007 and the out-of-sample period until 12/31/2013 spanning the 2008 U.S. subprime crisis, 2010 Greek debt crisis, and post risk duration. All banks in Taiwan are categorised into several groups according to their size of market capital, leverage and domestic/foreign to find out what the extent of changes of the systemic risk as the risk changes between the individuals in the bank groups and vice versa. The final results can provide a guidance to financial supervisory commission of Taiwan to gauge the downside risk in the system of financial institutions and determine the minimum capital requirement hold by financial institutions due to the sensibility changes in CoVaR and CoES of each banks.

Keywords: bank financial distress, vector quantile autoregression, CoVaR, CoES

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Authors: Hirbod Varasteh, Hamidreza Gohari Darabkhani

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The global warming and its impact on climate change is one of main challenges for current century. Global warming is mainly due to the emission of greenhouse gases (GHG) and carbon dioxide (CO₂) is known to be the major contributor to the GHG emission profile. Whilst the energy sector is the primary source for CO₂ emission, Carbon Capture and Storage (CCS) are believed to be the solution for controlling this emission. Oxyfuel combustion (Oxy-combustion) is one of the major technologies for capturing CO₂ from power plants. For gas turbines, several Oxy-combustion power cycles (Oxyturbine cycles) have been investigated by means of thermodynamic analysis. NetPower cycle is one of the leading oxyturbine power cycles with almost full carbon capture capability from a natural gas fired power plant. In this manuscript, sensitivity analysis of the heat exchanger design in NetPower cycle is completed by means of process modelling. The heat capacity variation and supercritical CO₂ with gaseous admixtures are considered for multi-zone analysis with Aspen Plus software. It is found that the heat exchanger design has a major role to increase the efficiency of NetPower cycle. The pinch-point analysis is done to extract the composite and grand composite curve for the heat exchanger. In this paper, relationship between the cycle efficiency and the minimum approach temperature (∆Tmin) of the heat exchanger has also been evaluated.  Increase in ∆Tmin causes a decrease in the temperature of the recycle flue gases (RFG) and an overall decrease in the required power for the recycled gas compressor. The main challenge in the design of heat exchangers in power plants is a tradeoff between the capital and operational costs. To achieve lower ∆Tmin, larger size of heat exchanger is required. This means a higher capital cost but leading to a better heat recovery and lower operational cost. To achieve this, ∆Tmin is selected from the minimum point in the diagrams of capital and operational costs. This study provides an insight into the NetPower Oxy-combustion cycle’s performance analysis and operational condition based on its heat exchanger design.

Keywords: carbon capture and storage, oxy-combustion, netpower cycle, oxy turbine cycles, zero emission, heat exchanger design, supercritical carbon dioxide, oxy-fuel power plant, pinch point analysis

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Authors: Jason Michael Crozier

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The wrestling territories of the mid-twentieth century in the United States are widely considered the birthplace of modern professional wrestling, and by many professional wrestlers, to be a beacon of hope for the easing of racial tensions during the civil rights era and beyond. The performers writing on this period speak of racial equality but fail to acknowledge the exploitation of black athletes as a racialized capital commodity who suffered the challenges of systemic racism, codified by a false narrative of aspirational exceptionalism and equality measured by audience diversity. The promoters’ ability to equate racial and capital exploitation with equality leads to a broader discussion of the history of Muscular Christianity in the United States and the exploitation of black bodies. Narratives of racial erasure that dominate the historical discourse when examining athleticism and exceptionalism redefined how blackness existed and how physicality and race are conceived of in sport and entertainment spaces. When discussing the implications of race and professional wrestling, it is important to examine the role of promotions as ‘imagined communities’ where the social agency of wrestlers is defined and quantified based on their ‘desired elements’ as a performer. The intentionally vague nature of this language masks a deep history of racialization that has been perpetuated by promoters and never fully examined by scholars. Sympathetic racism and the omission of cultural identity are also key factors in the limitations and racial barriers placed upon black athletes in the squared circle. The use of sympathetic racism within professional wrestling during the twentieth century defined black athletes into two distinct categorizations, the ‘black savage’ or the ‘black minstrel’. Black wrestlers of the twentieth century were defined by their strength as a capital commodity and their physicality rather than their knowledge of the business and in-ring skill. These performers had little agency in their ability to shape their own character development inside and outside the ring. Promoters would often create personas that heavily racialized the performer by tying them to a regional past or memory, such as that of slavery in the deep south using dog collar matches and adoring black characters in chains. Promoters softened cultural memory by satirizing the historic legacy of slavery and the black identity.

Keywords: sympathetic racism, social agency, racial commodification, stereotyping

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Authors: I. Wayan Wiwin

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Poverty is one of the big problems faced by big cities in the world. Urbanization one cause, many rural communities trying to earn a living to the city in the hope that they can improve the level of economy, but not equipped with adequate skills so that it becomes an urban demographic problem. Denpasar as the capital of the province of Bali one of them, in the city area of Denpasar there are many slum dwellings inhabited by the poor, whereas Bali is known as one of the best tourist destinations in the world. This condition is very inversely proportional to the progress of tourism in Bali. For that it is necessary to attempt to overcome poverty in the city of Denpasar, one with the development of city tours in the form of charity walking tours, where tourists are invited to take a walk to see directly the state of the poor in the city of Denpasar and provide assistance to them in the form of home assistance, educational scholarships, health assistance, as well as skill and business capital assistance. This research is explorative-qualitative, that is exploring the potential of charity walking tour to overcome poverty in Denpasar City, which is written qualitatively. In the end based on potential data and information, then analyzed into a decision whether it is possible to develop. Therefore, this study only requires respondents or informants who are able to provide answers or qualitative information about matters related to the potential development of charity walking tour. Thus, informants in this study are tourism stakeholders, such as Municipal government officials, businessmen, community leaders and tourism actors, who are considered to be providing information relating to the development of urban tourism.

Keywords: tourism, city tours, charity walking tours, poverty

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Authors: Cristian Pauna

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With few steps away from the 2020, investments in financial markets is a common activity nowadays. In the electronic trading environment, the automated investment software has become a major part in the business intelligence system of any modern financial company. The investment decisions are assisted and/or made automatically by computers using mathematical algorithms today. The complexity of these algorithms requires computer assistance in the investment process. This paper will present several investment strategies that can be automated with algorithmic trading for Deutscher Aktienindex DAX30. It was found that, based on several price action mathematical models used for high-frequency trading some investment strategies can be optimized and improved for automated investments with good results. This paper will present the way to automate these investment decisions. Automated signals will be built using all of these strategies. Three major types of investment strategies were found in this study. The types are separated by the target length and by the exit strategy used. The exit decisions will be also automated and the paper will present the specificity for each investment type. A comparative study will be also included in this paper in order to reveal the differences between strategies. Based on these results, the profit and the capital exposure will be compared and analyzed in order to qualify the investment methodologies presented and to compare them with any other investment system. As conclusion, some major investment strategies will be revealed and compared in order to be considered for inclusion in any automated investment system.

Keywords: Algorithmic trading, automated investment systems, limit conditions, trading principles, trading strategies

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Authors: Erica Siqueira, Adriana Bin, Rachel Stefanuto

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The paper aims to identify and to discuss the impact and results of ex-ante, mid-term and ex-post evaluation initiatives in Brazilian Social Enterprises from the point of view of the entrepreneurs and investors, highlighting the processes involved in these activities and their aftereffects. The study was conducted using a descriptive methodology, primarily qualitative. A multiple-case study was used, and, for that, semi-structured interviews were conducted with ten entrepreneurs in the (i) social finance, (ii) education, (iii) health, (iv) citizenship and (v) green tech fields, as well as three representatives of various impact investments, which are (i) venture capital, (ii) loan and (iii) equity interest areas. Convenience (non-probabilistic) sampling was adopted to select both businesses and investors, who voluntarily contributed to the research. The evaluation is still incipient in most of the studied business cases. Some stand out by adopting well-known methodologies like Global Impact Investing Report System (GIIRS), but still, have a lot to improve in several aspects. Most of these enterprises use nonexperimental research conducted by their own employees, which is ordinarily not understood as 'golden standard' to some authors in the area. Nevertheless, from the entrepreneur point of view, it is possible to identify that most of them including those routines in some extent in their day-by-day activities, despite the difficulty they have of the business in general. In turn, the investors do not have overall directions to establish evaluation initiatives in respective enterprises; they are funding. There is a mechanism of trust, and this is, usually, enough to prove the impact for all stakeholders. The work concludes that there is a large gap between what the literature states in regard to what should be the best practices in these businesses and what the enterprises really do. The evaluation initiatives must be included in some extension in all enterprises in order to confirm social impact that they realize. Here it is recommended the development and adoption of more flexible evaluation mechanisms that consider the complexity involved in these businesses’ routines. The reflections of the research also suggest important implications for the field of Social Enterprises, whose practices are far from what the theory preaches. It highlights the risk of the legitimacy of these enterprises that identify themselves as 'social impact', sometimes without the proper proof based on causality data. Consequently, this makes the field of social entrepreneurship fragile and susceptible to questioning, weakening the ecosystem as a whole. In this way, the top priorities of these enterprises must be handled together with the results and impact measurement activities. Likewise, it is recommended to perform further investigations that consider the trade-offs between impact versus profit. In addition, research about gender, the entrepreneur motivation to call themselves as Social Enterprises, and the possible unintended consequences from these businesses also should be investigated.

Keywords: evaluation practices, impact, results, social enterprise, social entrepreneurship ecosystem

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Authors: N. Mathew, A. Qureshi, D. C. Khakha, R. Sagar

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Adolescents in India, account for one-fifth of the total population and are a significant human resource. Present study was conducted to find out various life stressors of adolescents, coping strategies adopted by them and the impact of stress on adolescent mental health. A descriptive, cross sectional study conducted on schools in the south zone of Delhi, capital city of the country. Data was collected on 360 adolescents between the age group of 13-17 years on socio-demographic profile, Adolescent life event stress scale, brief cope and youth self report for ages 11-18. Adolescents had significantly higher stress on uncontrollable events such as family events, relocation events, accident events and ambiguous events as compared to controllable events such as sexual events, deviance events and autonomy events (p<0.01).Adolescent stress was significantly correlated with various demographic variables in the study. The most frequently used coping strategies by the adolescents were positive reframing, planning, active coping, and instrumental support. It has also been found that the stress has a significant impact on adolescent mental health in the form of either internalizing problems such as anxious, withdrawn and somatic problems or externalizing problems such as rule breaking and aggressive behaviors. Out of the total sample of 360 adolescents 150 were identified as having psycho-social morbidity, including 59 borderline cases and 91 high-risk cases Study pointed out the need for mental health screening among the adolescents and also indicated the need for mental health inputs in educational institutions.

Keywords: adolecents, stress, coping, mental health

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Authors: Zeynep Karacor, Rahime Hulya Ozturk

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Located in developing countries but with the successful performance in recent years have shown in emerging economies , the labor factor has undoubtedly an important place in Turkish economy. The theorists have emphasized the importance of labor and human capital factors for many years. The importance of human capital is emerging in the process of determining the labor force participation rate. It is relatively easy to employ qualified labor force but employment of unskilled labor is particularly difficult. Another factor affecting the gender differences are employment opportunities in the labor force. In our country, the employment conditions of men and women differ. Factors causing these differentials are inherent job requirements, the social structure of society, women's point of view, working hours, working conditions. Crisis in our country in recent years have significantly affect the labor force participation rates. In particular, women's labor force participation rates have shown a decrease in crisis.In crisis female laborforce leave their job and go their home. It is the sole provider of social perception of men so in crisis period it is considered that woman lost their job. In the first part of this study the current situation in the world of female participation in the labor force in Turkey will examine. In the second part of the study literature will be examined. In the third and last part of the study factors of determinants of female labor force participation rate analysis will done by Granger Causality Analysis.

Keywords: female labour force, employment, labor force, Turkey

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Authors: Rana Daneshvar Salehi

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In many Iranian cities including ‎‎Mashhad‎, the capital of ‎‎‎‎Razavi Khorasan Province‏‎, ‎ordinary samples of domestic architecture ‎on a ‎‏small scale is not ‎‎‎considered as ‎heritage. ‎While the ‎principals of house formation are ‎‎respected in all ‎‎traditional Iranian ‎‎‎‎houses‎; ‎from moderate to great ones. During the past decade, Mashhad has lost its identity, and has become a modern city. Identifying it as the capital of the Islamic Culture in 2017 by ISESCO and consequently looking for new developments and transfiguration caused to demolish a large ‎number ‎of ‎traditional modest habitation. ‎For this ‎reason, the present paper aims to introduce ‎the three ‎undiscovered houses with the ‎historical and monumental values located in the ‎oldest ‎neighborhoods of Mashhad which have been neglected in the cultural ‎heritage field. The preliminary phase of this approach will be a measured survey to identify the significant characteristics ‎of ‎selected dwellings and understand the challenges through focusing on building ‎form, orientation, ‎‎room function, space proportion and ornamental elements’ details. A comparison between the ‎‎case studies and the wealthy domestically buildings ‎presents that a house belongs to inhabitants ‎with an average income could introduce the same accurate, regular, harmonic and proportionate ‎design which can be found in the great mansions. It reveals that an ordinary traditional house can ‎be regarded as valuable construction not only for its historical characteristics but also ‎for its ‎aesthetical and architectural features that could avoid further destructions in the future.

Keywords: traditional ordinary house, architectural characteristic, proportion, heritage

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Authors: Aisha M. Memon, Arabella Bhutto, Zahid A. Memon, Adnan Pitafi

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This study aims to identify the existing and non-existing elements in the entrepreneurial ecosystem which include finance, institutions, laws and regulations, human capital, culture, and markets, to measure the level of effectiveness of existing elements and to develop recommendations for improving the ecosystem to facilitate the women entrepreneurs in Jamshoro, Pakistan. The nature of this study is qualitative. Data were drawn from 25 in-depth, semi-structured interviews and a focus group discussion with women entrepreneurs in rural Jamshoro, Pakistan. The findings show the lack of awareness and knowledge among women entrepreneurs about available financial resources, lack of knowledge about laws, an absence of familial and societal support for women in accessing the entrepreneurial ecosystem, the absence of business and innovation enablers in rural areas, communication gaps, and unskilled human capital. The study found that institutions like non-for-profit organizations are playing an active role in the growth of women entrepreneurs. The existing entrepreneurial ecosystem in Jamshoro can be improved through culturally sensitive coordinated approach, interventions aimed at increasing awareness about the resources, promoting an understanding about the laws and regulations, making business enablers more effective, establishing public-private partnerships, and providing the women entrepreneurs easy access to market and financial resources.

Keywords: entrepreneurship, entrepreneurship ecosystem, Pakistan, women entrepreneurs

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Authors: Peien Ma

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Bilingual effect/advantage theorized the positive effect of being bilingual on general cognitive abilities, but it was unknown which factors tend to modulate these bilingualism effects on working memory capacity. This study imposed empirical field research on a group of low-SES emerging bilinguals, Miao people, in the hill tribes of rural China to investigate whether bilingualism affected their verbal working memory performance. 20 Miao-Chinese bilinguals (13 girls and 7 boys with a mean age of 11.45, SD=1.67) and 20 Chinese monolingual peers (13 girls and 7 boys with a mean age of 11.6, SD=0.68) were recruited. These bilingual and monolingual juveniles, matched on age, sex, socioeconomic status, and educational status, completed a language background questionnaire and a standard forward and backward digit span test adapted from Wechsler Adult Intelligence Scale-Revised (WAIS-R). The results showed that bilinguals earned a significantly higher overall mean score of the task, suggesting the superiority of working memory ability over the monolinguals. And bilingual cognitive benefits were independent of proficiency levels in learners’ two languages. The results suggested that bilingualism enhances working memory in sequential bilinguals from low SES backgrounds and shed light on our understanding of the bilingual advantage from a psychological and social perspective.

Keywords: bilingual effects, heritage language, Miao/Hmong language Mandarin, working memory

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Authors: Ainur Bulasheva

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During the last decade, the dual learning system (DLS) has been actively introduced in various industries in Kazakhstan, including both vocational, post-secondary, and higher education levels. It is a relatively new practice-oriented approach to training qualified personnel in Kazakhstan, officially introduced in 2012. Dual learning was integrated from the German vocational education and training system, combining practical training with part-time work in production and training in an educational institution. The policy of DLS has increasingly focused on decreasing youth unemployment and the shortage of mid-level professionals by providing incentives for employers to involve in this system. By participating directly in the educational process, the enterprise strives to train its future personnel to meet fast-changing market demands. This study examines the effectiveness of DLS from the perspective of employers to understand the motivations of businesses to participate (invest) in this program. The human capital theory of Backer, which predicts that employers will invest in training their workers (in our case, dual students) when they expect that the return on investment will be greater than the cost - acts as a starting point. Further extensionists of this theory will be considered to understand investing intentions of businesses. By comparing perceptions of DLS employers and non-dual practices, this study determines the efficiency of promoted training approach for enterprises in the Kazakhstan agri-food industry.

Keywords: vocational and technical education, dualeducation, human capital theory, argi-food industry

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Authors: G. P. Gupta, B. Kumar, S. Singh, U. C. Kulshrestha

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Very high loadings of atmospheric dust in the Indian region contribute to remarkably higher levels of particulate matter. During dry weather conditions which prevail most of the year, dustfall is deposited onto the foliar surfaces affecting their morphology, stomata and biochemical constituents. This study reports chemical characteristics of dustfall, its effect on foliar morphology and biochemical constituents of two medicinal plants i.e. Morus (Morus alba) and Arjun (Terminalia arjuna) in the urban environment of National Capital Region (NCR) of Delhi at two sites i.e. Jawaharlal Nehru University (residential) and Sahibabad (industrial). Atmospheric dust was characterized for major anions (F-, Cl-, NO3-, SO4--) and cations (Na+, NH4+, K+, Mg++, Ca++) along with the biochemical parameters Chl a, Chl b, total chlorophyll, carotenoid, total soluble sugar, relative water content (RWC), pH, and ascorbic acid. The results showed that the concentrations of major ions in dustfall were higher at the industrial site as compared to the residential site due to the higher level of anthropogenic activities. Both the plant species grown at industrial site had significantly lower values of chlorophyll ‘a’, chlorophyll ‘b’, total chlorophyll, carotenoid but relatively higher values of total soluble sugar and ascorbic acid indicating stressful conditions due to industrial and vehicular emissions.

Keywords: dustfall, urban environment, biochemical constituents, atmospheric dust

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Authors: Desere Kokt

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Hospitality establishments worldwide are bearing the brunt of the effects of Covid-19. As the hospitality industry is looking to recover, emphasis is placed on rejuvenating the industry. This is especially pertinent for economic development in areas of high unemployment, such as the Free State province of South Africa. The province is not a main tourist area and thus depends on the influx of tourists. The province has great scenic beauty with many accommodation establishments that provide job opportunities to the local population. The two main economic hubs of the Free State province namely Bloemfontein and Clarens, were the focus of the investigation. The emphasis was on graded accommodation establishments as they must adhere to the quality principles of the Tourism Grading Council of South Africa (TGCSA) to obtain star grading. The hospitality industry is known for being labour intensive, and employees need to be available to cater for the needs of paying customers. This is referred to as ‘emotional labour’ and implies that employees need to manage their feelings and emotions as part of performing their jobs. The focus of this study was thus on psychological factors related to working in the hospitality industry – specifically psychological contract and psychological capital and its impact on the commitment of employees in graded accommodation establishments. Employee commitment can be explained as a psychological state that binds the individual to the organisation and involves a set of psychological relationships that include affective (emotions), normative (perceived obligation) and continuance (staying with the organisation) dimensions. Psychological contract refers to the reciprocal beliefs and expectations between the employer and the employee and consists of transactional and rational contracts. Transactional contracts are associated with the economic exchange, and contractional issues related to the employment contract and rational contracts relate to the social exchange between the employee and the organisation. Psychological capital refers to an individual’s positive psychology state of development that is characterised by self-efficiency (having confidence in doing one’s job), optimism (being positive and persevering towards achieving one’s goals), hope (expectations for goals to succeed) and resilience (bouncing back to attain success when beset by problems and adversity). The study employed a quantitative research approach, and a structured questionnaire was used to gather data from respondents. The study was conducted during the Covid-19 pandemic, which hampered the data gathering efforts of the researchers. Many accommodation establishments were either closed or temporarily closed, which meant that data gathering was an intensive and laborious process. The main researcher travelled to the various establishments to collect the data. Nine hospitality establishments participated in the study, and around 150 employees were targeted for data collection. Ninety-two (92) questionnaires were completed, which represents a response rate of 61%. Data were analysed using descriptive and inferential statistics, and partial least squares structural equation modelling (PLS-SEM) was applied to examine the relationship between the variables.

Keywords: employee commitment, hospitality industry, psychological contract, psychological capital

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Authors: Melvin Sethobya, Sithule Xanga, Sechaba Lenong, Lunga Nolakana, Gbenga Adesola

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Mining has been the cornerstone of the South African economy for the last century. Most of the gold mining in South Africa was conducted within the Witwatersrand basin, which contributed to the rapid growth of the city of Johannesburg and capitulated the city to becoming the business and wealth capital of the country. But with gradual depletion of resources, a stoppage in the extraction of underground water from mines and other factors relating to survival of the mining operations over a lengthy period, most of the mines were abandoned and left to pollute the local waterways and groundwater with toxins, heavy metal residue and increased acid mine drainage ensued. The Department of Mineral Resources and Energy commissioned a project whose aim is to monitor, maintain, and mitigate the adverse environmental impacts of polluted water mine water flowing into local streams affecting local ecosystems and livelihoods downstream. As part of mitigation efforts, the diagnosis and monitoring of groundwater or surface water polluted sites has become important. Geophysical surveys, in particular, Resistivity and Magnetics surveys, were selected as some of most suitable techniques for investigation of local ingress points along of one the major streams cutting through the Witwatersrand basin, namely the Blesbokspruit, which is found in the eastern part of the basin. The aim of the surveys was to provide information that could be used to assist in determining possible water loss/ ingress from the Blesbokspriut stream. Modelling of geophysical surveys results offered an in-depth insight into the interaction and pathways of polluted water through mapping of possible ingress channels near the Blesbokspruit. The resistivity - depth profile of the surveyed site exhibit a three(3) layered model with low resistivity values (10 to 200 Ω.m) overburden, which is underlain by a moderate resistivity weathered layer (>300 Ω.m), which sits on a more resistive crystalline bedrock (>500 Ω.m). Two locations of potential ingress channels were mapped across the two traverses at the site. The magnetic survey conducted at the site mapped a major NE-SW trending regional linearment with a strong magnetic signature, which was modeled to depth beyond 100m, with the potential to act as a conduit for dispersion of stream water away from the stream, as it shared a similar orientation with the potential ingress channels as mapped using the resistivity method.

Keywords: eletrictrical resistivity, magnetics survey, blesbokspruit, ingress

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