Search results for: private bond market

Authors: Kalinga Jagoda

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With changing population demographics and consumer preferences, specialty crops present significant opportunities for Ontario agri-businesses to develop niche markets. However, the greater rewards offered by such opportunities come with comparable challenges that are driven by specific productmarket attributes, as well as supply and demand-side factors, including certain risks. Thus, initiatives to promote and support such sectors need to be informed by an understanding of the impact of these product-market and industry specific factors on supply chain development. To this end, this project proposes to map selected specialty crops supply chains, using a suite of tested methodological approaches to evaluate their market potential, considering total supply chain costs, lead times and responsiveness. The project will deliver comprehensive supply chain maps identifying the points of value addition and value capture that are of benefit to key stakeholders for the purposes of developing policy interventions, conducting market appraisals and identifying industry best practices.

Keywords: supply chain management, hazelnut industry, supply chain maps, market opportunity

Procedia PDF Downloads 54

Authors: Heesu Kim

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This paper determines the varieties of state roles played in East Asia’s telecommunication market, regarding broadband industry. Technological capacity and the relationship between state and market affect the varieties of state role. In explaining the state’s engagement in the market, technology has always been considered as a necessary and sufficient condition. However technology variable has been useful in only explaining the extent of state’s involvement. This paper contributes by bringing in the political-economic factor, which is the relationship between state and market. This factor aids in distinguishing the varieties of state role played in emerging industries. Interaction between these two variables distinguishes 4 types of state roles played in the broadband industry. These roles are distinguished and characterized by the intensity of state’s intervention and the existence of technological capacity. This paper classifies four types of state role through the case of Singapore, China, Taiwan and Korea’s broadband industrial policy.

Keywords: East Asia, entrpreneurial state, industrial policy, regulatory state, technological capacity

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Authors: Jae Hyun Park, Sangmi Chai, Minkyun Kim

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As users spend more time on the Internet, the probability of their personal information being exposed has been growing. This research has a main purpose of investigating factors and examining relationships when Internet users recognize their value of private information with a perspective of an economic asset. The study is targeted on Internet users, and the value of their private information will be converted into economic figures. Moreover, how economic value changes in relation with individual attributes, dealer’s traits, circumstantial properties will be studied. In this research, the changes in factors on private information value responding to different situations will be analyzed in an economic perspective. Additionally, this study examines the associations between users’ perceived risk and value of their personal information. By using the cost-benefit analysis framework, the hypothesis that the user’s sense in private information value can be influenced by individual attributes and situational properties will be tested. Therefore, this research will attempt to provide answers for three research objectives. First, this research will identify factors that affect value recognition of users’ personal information. Second, it provides evidences that there are differences on information system users’ economic value of information responding to personal, trade opponent, and situational attributes. Third, it investigates the impact of those attributes on individuals’ perceived risk. Based on the assumption that personal, trade opponent and situation attributes make an impact on the users’ value recognition on private information, this research will present the understandings on the different impacts of those attributes in recognizing the value of information with the economic perspective and prove the associative relationships between perceived risk and decision on the value of users’ personal information. In order to validate our research model, this research used the regression methodology. Our research results support that information breach experience and information security systems is associated with users’ perceived risk. Information control and uncertainty are also related to users’ perceived risk. Therefore, users’ perceived risk is considered as a significant factor on evaluating the value of personal information. It can be differentiated by trade opponent and situational attributes. This research presents new perspective on evaluating the value of users’ personal information in the context of perceived risk, personal, trade opponent and situational attributes. It fills the gap in the literature by providing how users’ perceived risk are associated with personal, trade opponent and situation attitudes in conducting business transactions with providing personal information. It adds to previous literature that the relationship exists between perceived risk and the value of users’ private information in the economic perspective. It also provides meaningful insights to the managers that in order to minimize the cost of information breach, managers need to recognize the value of individuals’ personal information and decide the proper amount of investments on protecting users’ online information privacy.

Keywords: private information, value, users, perceived risk, online information privacy, attributes

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Authors: C. F. Popoola, P. Osho, S. B. Babarinde

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This study examined economic indicators as correlates of inward FDI. An exploratory research design was used to obtained annual published data on inflation rate, market size, exchange rate, political instability, human development, and infrastructure from Central Bank of Nigeria, National Bureau of Statistics, Nigerian Capital Market, Nigeria Institute of Social and Economic Research, and UNCTAD. Data generated were analyzed using Pearson correlation, analysis of variance and regression. The findings of the study revealed that market size (r = 0.852, p < 0.001), infrastructure (r = 0.264, p < 0.001), human development (r = 0.154, p < 0.01) and exchange rate ( r= 0.178, p < 0.05) correlate positively with inward FDI, while inflation rate (r = -0.88, p < 0.001), and political instability (r= -0.102, p < 0.05) correlate negatively with inward FDI. Findings also revealed that the economic indicators significantly predicted inward FDI (R2 = 0.913; F(1,19) = 29.40; p < 0.05) for Nigeria. It was concluded that exchange rate, market size, human development, and infrastructure positively related to inward FDI while the high level of inflation and political instability negatively related to inward FDI. Therefore, it was suggested that policy makers and government agencies should readdress steps and design policies that would encourage more FDI into the country.

Keywords: exchange rate, foreign direct investment, human development, inflation rate, infrastructure, market size, political instability

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Authors: Agnetha Schuchardt, Jennifer Hartmann, Laura Schulte, Roman Peperhove, Lars Gerhold

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If critical infrastructures fail, even for a short period of time, it can have significant negative consequences for the affected population. This is especially true for the food sector that is strongly interlinked with other sectors like the power supply. A blackout could lead to several cities being without food supply for numerous days, simply because cash register systems do no longer work properly. Following the public opinion, securing the food supply in emergencies is considered a task of the state, however, in the German context, the key players are private enterprises and private households. Both are not aware of their responsibility and both cannot be forced to take any preventive measures prior to an emergency. This problem became evident to officials and politicians so that the law covering food security was revised in order to include private stakeholders into mitigation processes. The paper will present a scientific review of governmental and regulatory literature. The focus is the inclusion of the food industry through a law reform and the challenges that still exist. Together with legal experts, an analysis of regulations will be presented that explains the development of the law reform concerning food security and emergency storage in Germany. The main findings are that the existing public food emergency storage is out-dated, insufficient and too expensive. The state is required to protect food as a critical infrastructure but does not have the capacities to live up to this role. Through a law reform in 2017, new structures should to established. The innovation was to include the private sector into the civil defense concept since it has the required knowledge and experience. But the food industry is still reluctant. Preventive measures do not serve economic purposes – on the contrary, they cost money. The paper will discuss respective examples like equipping supermarkets with emergency power supply or self-sufficient cash register systems and why the state is not willing to cover the costs of these measures, but neither is the economy. The biggest problem with the new law is that private enterprises can only be forced to support food security if the state of emergency has occurred already and not one minute earlier. The paper will cover two main results: the literature review and an expert workshop that will be conducted in summer 2018 with stakeholders from different parts of the food supply chain as well as officials of the public food emergency concept. The results from this participative process will be presented and recommendations will be offered that show how the private economy could be better included into a modern food emergency concept (e. g. tax reductions for stockpiling).

Keywords: critical infrastructure, disaster control, emergency food storage, food security, private economy, resilience

Procedia PDF Downloads 191

Authors: Manal Rauf

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Trained medical practitioners are produced from medical colleges serving in public and private sectors. Prime responsibility of teaching faculty is to inculcate required work ethic among the students by serving as role models for them. It is an observed fact that classroom incivility behaviours are providing a friction in achieving these targets. Present study aimed at identification of classroom incivility behaviours observed by teachers and students of public and private medical colleges as per Glasser’s Choice Theory, making a comparison and investigating the strategies being adopted by teachers of both sectors to control undesired class room behaviours. Findings revealed that a significant difference occurs between teacher and student incivility behaviours. Public sector teacher focussed on survival as a strong factor behind in civil behaviours whereas private sector teachers considered power as the precedent for incivility. Teachers of both sectors are required to use verbal as well as non-verbal immediacy to reach a healthy leaning environment.

Keywords: classroom incivility behaviour, glasser choice theory, Mehrabian immediacy theory

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Authors: Arturo Tobias Calizon Jr.

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The study investigated the practices in critical reflection being employed in teaching and learning mathematics in public and private schools for students to achieve perspective transformation in psychological, convictional and behavioral dimensions. There were 1,969 senior high school and college student-respondents selected at random from 33 schools. Process reflection is most commonly practiced in both public and private schools. Convictional dimension of perspective transformation is most frequently achieved. There is no significant difference in practices of process reflection between senior high school and college students. However, there is a significant difference in perspective transformation in behavioral dimension achieved by students from public and private schools. Also, there are significant differences in psychological, convictional and behavioral dimensions of perspective transformation achieved by senior high school and college students. There is a high and significant relationship between critical reflection practices and perspective transformation of students. The researcher concludes that there are teaching strategies that facilitate critical thinking, and there are learning activities that alter perspective of students about mathematics as an abstract field. The researcher further concludes that consistent use of appropriate teaching and learning activities could bring about perspective transformation in students with success.

Keywords: critical reflection, perspective transformation, process reflection, convictional dimension, teaching and learning mathematics

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Authors: Santi Mutiara Asih, Sinta Kemala Asih

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Along with the development of tourism in Indonesia, which is increasingly a lot of domestic and foreign public interest in sharia tourism, the Indonesian government is currently developing the program. It was seen that this program would have a good impact, especially for Indonesian tourism. So it is necessary to develop appropriate marketing strategies. Then to develop tourism prospects sharia government could use such a marketing strategy, for instance, marketing mix and Segmenting, Targeting, and Positioning (STP). The marketing mix is a set of marketing tools used by a state or a company to continue achieving its marketing objectives in target market. STP is the most important initial step in identifying customer value. In such away, it is expected from the use of this strategy could make sharia tourism as a market leader in the field of tourism in Indonesia, it also could attract more tourists to visit and increase economic returns.

Keywords: STP, marketing mix, market leader, sharia tourism

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Authors: Wafa Ghonaim

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Though quite fast on growth, Islamic financing at large, and its diverse instruments, is a controversial matter among scholars. This is evident from the ongoing debates on its Shariah compliance. Arguments, however, are inciting doubts and concerns among clients about its credibility, which is harming this lucrative sector. The work here investigates, particularly, some issues related to the Tawarruq instrument. The work examines the issues of linking Murabaha and Wakala contracts, the reselling of commodities to same traders, and the transfer of ownerships. The work affirms that a multi-agent smart electronic market design would facilitate Shariah compliance. The smart market exploits the rational decision-making capabilities of autonomous proxy agents that enable the clients, traders, brokers, and the bank buy and sell commodities, and manage transactions and cash flow. The smart electronic market design delivers desirable qualities that terminate the need for Wakala contracts and the reselling of commodities to the same traders. It also resolves the ownership transfer issues by allowing stakeholders to trade independently. The bank administers the smart electronic market and assures reliability of trades, transactions and cash flow. A multi-agent simulation is presented to validate the concept and processes. We anticipate that the multi-agent smart electronic market design would deliver Shariah compliance of personal financing to the aspiration of scholars, banks, traders and potential clients.

Keywords: Islamic finance, share'ah compliance, smart electronic markets design, multiagent systems

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Authors: Natália Bruno Chaves, Richardes Caúla, Roosevelt do Vale, Daniela Toneti, Rafaela Carvalho, Renata Silva Lopes, Antônio Carlos Júnior, Adner Nobre, Viviane Santiago, Yara Alana Caldato, Estefania Rodriguez Urrego, André Buarque Lemos, Catarina Nucci Stetner, Marcos Mauro Barreto, Stefany Moreira Lima, Mara Cavalcante, Ticiane Ribeiro

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The Well Born (Nascer Bem – in Portuguese) Program was created in the Hapvida health network with the aim of improving access to safe and quality prenatal care for users. In addition to offering a line of prenatal care, the inclusion of obstetric nursing and the decentralization of childbirth, bring security that professionals did not indicate the route of delivery for professional convenience. The introduction of the nursing consultation came to reinforce the care to our users, strengthening their bond and reception. In 2021, the program maintained an average of 40% of normal births in the north, northeast and central-west regions of Brazil, an average above that observed in the rest of the country's private health systems, around 20%. In addition, the neonatal hospitalization rate of this population remained around 5.1%, a figure below the national average. With these data, the “Nascer Bem” program is affirmed as a safe and effective strategy for the promotion of safe normal birth.

Keywords: quality, safe, prenatal, obstetric nursing

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Authors: Concepcion Gonzalez-Concepcion, Maria Candelaria Gil-Fariña, Celina Pestano-Gabino

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We analyze six relevant economic and financial variables for the period 2000M1-2015M3 in the context of the Spanish economy: a financial index (IBEX35), a commodity (Crude Oil Price in euros), a foreign exchange index (EUR/USD), a bond (Spanish 10-Year Bond), the Spanish National Debt and the Consumer Price Index. The goal of this paper is to analyze the main relations between them by computing the Wavelet Power Spectrum and the Cross Wavelet Coherency associated with Morlet wavelets. By using a special toolbox in MATLAB, we focus our interest on the period variable. We decompose the time-frequency effects and improve the interpretation of the results by non-expert users in the theory of wavelets. The empirical evidence shows certain instability periods and reveals various changes and breaks in the causality relationships for sample data. These variables were individually analyzed with Daubechies Wavelets to visualize high-frequency variance, seasonality, and trend. The results are included in Proceeding 20th International Academic Conference, 2015, International Institute of Social and Economic Sciences (IISES), Madrid.

Keywords: economic and financial variables, Spain, time-frequency domain, wavelet coherency

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Authors: Byomakesh Debata, Jitendra Mahakud

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The recent financial crisis has been characterized by massive monetary policy interventions by the Central bank, and it has amplified the importance of liquidity for the stability of the stock market. This paper empirically elucidates the actual impact of monetary policy interventions on stock market liquidity covering all National Stock Exchange (NSE) Stocks, which have been traded continuously from 2002 to 2015. The present study employs a multivariate VAR model along with VAR-granger causality test, impulse response functions, block exogeneity test, and variance decomposition to analyze the direction as well as the magnitude of the relationship between monetary policy and market liquidity. Our analysis posits a unidirectional relationship between monetary policy (call money rate, base money growth rate) and aggregate market liquidity (traded value, turnover ratio, Amihud illiquidity ratio, turnover price impact, high-low spread). The impulse response function analysis clearly depicts the influence of monetary policy on stock liquidity for every unit innovation in monetary policy variables. Our results suggest that an expansionary monetary policy increases aggregate stock market liquidity and the reverse is documented during the tightening of monetary policy. To ascertain whether our findings are consistent across all periods, we divided the period of study as pre-crisis (2002 to 2007) and post-crisis period (2007-2015) and ran the same set of models. Interestingly, all liquidity variables are highly significant in the post-crisis period. However, the pre-crisis period has witnessed a moderate predictability of monetary policy. To check the robustness of our results we ran the same set of VAR models with different monetary policy variables and found the similar results. Unlike previous studies, we found most of the liquidity variables are significant throughout the sample period. This reveals the predictability of monetary policy on aggregate market liquidity. This study contributes to the existing body of literature by documenting a strong predictability of monetary policy on stock liquidity in an emerging economy with an order driven market making system like India. Most of the previous studies have been carried out in developing economies with quote driven or hybrid market making system and their results are ambiguous across different periods. From an eclectic sense, this study may be considered as a baseline study to further find out the macroeconomic determinants of liquidity of stocks at individual as well as aggregate level.

Keywords: market liquidity, monetary policy, order driven market, VAR, vector autoregressive model

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Authors: Saleh Alzahrani, Halim Boussabaine

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Many of Public Private Partnership (PPP) are developed based on a public project is to be awarded to a private party within a one contractual framework. PPP project risks typically include the development and construction of a new asset as well as its operation. Certainly the most severe consequences of risks through the construction period are price and time overruns. These events are among the most generally used situation in value for money analysis risks. The sources of risk change during the time in PPP project. In traditional procurement, the public sector usually has to cover all prices suffering from these risks. At least there is plenty to suggest that price suffering is a norm in some of the projects that are delivered under traditional procurement. This paper will find the impact of exogenous risk factors into actual construction price into PPP projects. The paper will present a brief literature review on PPP risk pricing strategies and then using system dynamics (SD) to analyses of the risks associated with the estimated project price. Based on the finding from these analyses a risk pricing association model is presented and discussed. The paper concludes with thoughts for future research.

Keywords: public private partnership (PPP), risk, risk pricing, system dynamics (SD)

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Authors: Farnoosh Davarian

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The present research focuses on organizing the cooperation of units constrained by demand response (DR) programs, considering ancillary services in the P-Q power market. Moreover, it provides a comprehensive exploration of the effects of demand reduction and redistribution across several predefined scenarios (in three pre-designed demand response programs, for example, ranging from 5% to 20%) on system voltage and losses in a smart distribution system (in the studied network, distributed energy resources (DERs) such as synchronous distributed generators and wind turbines offer their active and reactive power for the proposed market).GAMS, a specialized software for high-powered modeling, is used for optimizing linear, nonlinear, and integer programming challenges. GAMS modeling is separate from its solution method, which is a notable feature. Thus, by providing changes in the solver, it is possible to solve the model using various methods (linear, nonlinear, integer, etc.). Finally, the combined active and reactive market challenge in smart distribution systems, considering renewable distributed sources and demand response programs in GAMS, will be evaluated. The active and reactive power trading by the distribution company is carried out in the wholesale market. What is demanded is active power. By using the buy-back/payment program, it is possible for responsive loads or aggregators to participate in the market. The objective function of the proposed market is to minimize the price of active and reactive power for DERs and distribution companies and the penalty cost for CO2 emissions and the cost of the buy-back/payment program. In this research, the objective function is to minimize the cost of active and reactive power from distributed generation sources and distribution companies, the cost of carbon dioxide emissions, and the cost of the buy-back/payment program. The effectiveness of the proposed method has been evaluated in a case study.

Keywords: consumer behavior, demand response, pollution cost, combined active and reactive market

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Authors: Sonal Purohit, Animesh Dubey

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Corporate governance deals with the entire network of formal and informal relationship with the management of the company and company’s stakeholders including employees, customers, creditors, local communities, and society in general. The recent financial crisis was truly a global crisis in its nature and effects. The Indian financial markets were not immune to this global financial crisis. It is believed that corporate governance also had a major role to play in staggering the effect of this crisis. The objective of this paper is to examine the failure of prevailing corporate governance practice in India during financial crisis. Lack of appropriate implementation of the corporate government norms was a reason behind the phenomenon of money being pulled-out by FIIs, which constitute major investors and influencers of the Indian financial market.

Keywords: corporate governance, FII, financial market, financial crisis

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Authors: Jae-Soo Do, Kyoung-Seok Kim

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The crisis theory of Samsung Electronics is becoming a hot topic today. Due to its performance deterioration, the share of Samsung Electronics lost its driving power. Considering the public opinion about the bad rumors circulating within the company, it is quite probable that the company is currently facing crisis. Then, what company has challenged the stronghold of Samsung Electronics? At the core of the crisis is 'Xiaomi' who snatched the first place of the market share, pushing Samsung Electronics aside in the Chinese market. In June 2010, Xiaomi, established by eight co-founders, has been showing a miraculous growth as the smart device manufacturer, taking the first place in the Chinese market and coming in fifth worldwide in just four years after its establishment. How did Xiaomi instantaneously achieve enough growth to overtake Samsung? Thus, we have conducted a comparative analysis on the competitive strategies of Samsung and Xiaomi.

Keywords: Samsung, Xiaomi, industrial attractiveness, VIRO

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Authors: German Ricci

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The research aims to analyse the symbolic power of the International Monetary Fund (IMF) in its relationship with a borrowing country, drawing upon Pierre Bourdieu’s Field Theory. This theory of power, typical of constructivist structuralism, has been minor used in international relations. Thus, selecting this perspective offers a new understanding of how the IMF's power operates and is structured. The IMF makes periodic economic reviews in which the staff evaluates the Government's performance. It also offers “last instance” loans when private external credit is not accessible. This relationship generates great expectations in financial agents because the IMF’s statements indicate the capacity of the Nation-State to meet its payment obligations (or not). Therefore, it is argued that the IMF is a legitimate actor for financial agents concerned about a government facing an economic crisis both for the effects of its immediate economic contribution through loans and the promotion of adjustment programs, helpful to guarantee the payment of the external debt. This legitimacy implies a symbolic power relationship in addition to the already known economic power relationship. Obtaining the IMF's consent implies that the government partially puts its political-economic decisions into play since the monetary policy must be agreed upon with the Fund. This has consequences at the local level. First, it implies that the debtor state must establish a daily relationship with the Fund. This everyday interaction with the Fund influences how officials and policymakers internalize the meaning of political management. On the other hand, if the Government has access to the IMF's seal of approval, the State will be again in a position to re-enter the financial market and go back into debt to face external debt. This means that private creditors increase the chances of collecting the debt and, again, grant credits. Thus, it is argued that the borrowing country submits to the relationship with the IMF in search of the latter's economic and symbolic capital. Access to this symbolic capital has objective and subjective repercussions at the national level that might tend to reproduce the relevance of the financial market and legitimizes the IMF’s intervention during economic crises. The paper has Argentina as its case study, given its historical relationship with the IMF and the relevance of the current indebtedness period, which remains largely unexplored. Argentina’s economy is characterized by recurrent financial crises, and it is the country to which the Fund has lent the most in its entire history. It surpasses more than three times the second, Egypt. In addition, Argentina is currently the country that owes the most to the Fund after receiving the largest loan ever granted by the IMF in 2018, and a new agreement in 2022. While the historical strong association with the Fund culminated in the most acute economic and social crisis in the country’s contemporary history, producing an unprecedented political and institutional crisis in 2001, Argentina still recognized the IMF as the only way out during economic crises.

Keywords: IMF, fields theory, symbolic power, Argentina, Bourdieu

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Authors: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, M. Saghareishvili

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The article discusses the consumer market of agricultural products and agricultural policy in Georgia. It is noted that development of the strategic areas of the agricultural sector needs a special support. These strategic areas should create the country's major export potential. It is important to develop strategies to access to the international markets, form extensive marketing network etc., which will become the basis for the promotion and revenue growth of the country. The Georgian agricultural sector, with the right state policy and support, can achieve success and gain access to the world market with competitive agricultural products. The paper discusses the current condition of agriculture, export and import of agricultural products and agricultural policy in Georgia. The conducted research concludes the information that there is an increasing demand on the green goods in the world market. Natural and climatic conditions of Georgia give a serious possibility of implementing it. The research presents an agricultural development strategy in Georgia and the findings and based on them recommendations are proposed.

Keywords: agriculture, export-import of agricultural products, agricultural cooperative society, agricultural policy, agricultural insurance

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Authors: Naser Zouri

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Purpose: Measures of formulate and implementation strategy shows amount of product rate-market based strategic management category such as courtesy, competence, and compliance to reach the high loyalty of financial ecosystem. Despite, it solves the market place error intention to fair trade organization. Finding: Finding shows the ability of executives’ level of management to motivate and better decision-making to solve the treatments in business organization. However, it made ideal level of each interposition policy for a hypothetical household. Methodology/design. Style of questionnaire about the data collection was selected to survey of both pilot test and real research. Also, divide of questionnaire and using of Free Scale Semiconductor`s between the finance employee was famous of this instrument. Respondent`s nominated basic on non-probability sampling such as convenience sampling to answer the questionnaire. The way of realization costs to performed the questionnaire divide among the respondent`s approximately was suitable as a spend the expenditure to reach the answer but very difficult to collect data from hospital. However, items of research survey was formed of implement strategy, environment, supply chain, employee from impact of implementation strategy on reach to better financial consequences and also formulate strategy, comprehensiveness strategic design, organization performance from impression on formulate strategy and financial consequences. Practical Implication: Dynamic capability approach of formulate and implement strategy focuses on the firm-specific processes through which firms integrate, build, or reconfigure resources valuable for making a theoretical contribution. Originality/ value of research: Going beyond the current discussion, we show that case studies have the potential to extend and refine theory. We present new light on how dynamic capabilities can benefit from case study research by discovering the qualifications that shape the development of capabilities and determining the boundary conditions of the dynamic capabilities approach. Limitation of the study :Present study also relies on survey of methodology for data collection and the response perhaps connection by financial employee was difficult to responds the question because of limitation work place.

Keywords: financial ecosystem, loyalty, Malaysian market error, dynamic capability approach, rate-market, optimization intelligence strategy, courtesy, competence, compliance

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Authors: Mutiat Temitayo James, Oladapo Olakunle James, Kabiru Oyetunde

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This paper examines occupational segregation by sex and sought to justify a case for its elimination or not. In doing this, we found that occupations are categorised among men and women in all parts of the world and this, in turn, affects the labour force participation rate of men and women in different sectors and aspects of the labour market. Data from the previous study shows that women are the most discriminated against as regards occupational segregation as many high profile jobs are regarded as men’s job and women relegated to the background. This has brought about low productivity for women and inequity in the labour market which can hinder the productivity levels of participants. It was however recommended that occupational segregation should be eliminated totally so that men and women alike can choose occupations of their choice irrespective of what gender the society ascribe to such occupation.

Keywords: occupation, gender, gender equality, labour market, segregation, discrimination

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Authors: Ajibola Fatokun, Akintola Akintoye, Champika Liyanage

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The issue of renegotiation has not received public sector applause because of the outcomes recorded over years. Numerous reasons have been adduced by the stakeholders for the renegotiation of PPP road projects. In some instances, the reason can also be the factor leading to the renegotiation of PFI (DBFO) road projects. Thus, a number of factors inform the decision of the primary stakeholders to renegotiate the contract. This paper, therefore, evaluates and assesses the factors leading to the renegotiation of PFI (DBFO) road projects in the UK. Qualitative interviews involving both public and private stakeholders were extensively adopted on five PFI (DBFO) case study road projects in order to address the aim of this study. This serves to complement the findings of the literature with respect to the factors leading to the renegotiation of PPP road projects. The findings of this research reveal the respective factors leading to the renegotiations of PFI (DBFO) road projects in the UK. However, the prominent factors are a change in scope of the works necessitating works removal and an addition of assets, change in standards and obsolete specification occasioned by the long duration of the PFI road project concession among others.

Keywords: renegotiation, factors, Private Finance Initiative (PFI), design-build-finance-operate (DBFO) road projects

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Authors: Sania Ashraf

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The paper focuses on the prevalence of informational efficiency and integration of GCC Shariah Equity market for the period of 01st January 2010 to 31st June 2015 with daily equity returns of Kuwait, Oman, Qatar, Bahrain, Saudi Arabia and United Arab Emirates. The study employs traditional as well as the modern approach of tracing out the efficiency and integration in the return series. From the results of efficiency it was observed that the market lacked efficiency in terms of its past information. The results of integration test clearly indicates that there was a long memory in the returns of GCC Shariah during the study period. Hence it was concluded and proved that the returns of all GCC Equity Shariah were not informationally efficient but fractionally integrated during the study period.

Keywords: efficiency, Fama, GCC shariah, hurst exponent, integration, serial correlation

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Authors: Debdatta Mukherjee, Abhiman Das, Amit Garg

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In recent years, there is a growing interest about corporate social responsibility of firms in both academic literature and business world. Since business forms a part of society incorporating socio-environment concerns into its value chain, activities are vital for ensuring mutual sustainability and prosperity. But, until now most of the works have been either descriptive or normative rather than positivist in tone. Even the few ones with a positivist approach have mostly studied the link between corporate financial performance and corporate social performance. However, these studies have been severely criticized by many eminent authors on grounds that they lack a theoretical basis for their findings. They have also argued that apart from corporate financial performance, there must be certain other crucial influences that are likely to determine corporate social performance of firms. In fact, several studies have indicated that firms operating in distinct national institutions show significant variations in the corporate social responsibility practices that they undertake. This clearly suggests that the institutional context of a country in which the firms operate is a key determinant of corporate social performance of firms. Therefore, this paper uses an institutional framework to understand why corporate social performance of firms vary across countries. It examines the impact of country level institutions on corporate social performance using a sample of 3240 global publicly-held firms across 33 countries covering the period 2010-2015. The country level institutions include public institutions, private institutions, markets and capacity to innovate. Econometric Analysis has been mainly used to assess this impact. A three way panel data analysis using fixed effects has been used to test and validate appropriate hypotheses. Most of the empirical findings confirm our hypotheses and the economic significance indicates the specific impact of each variable and their importance relative to others. The results suggest that institutional determinants like ethical behavior of private institutions, goods market, labor market and innovation capacity of a country are significantly related to the corporate social performance of firms. Based on our findings, few implications for policy makers from across the world have also been suggested. The institutions in a country should promote competition. The government should use policy levers for upgrading home demands, like setting challenging yet flexible safety, quality and environment standards, and framing policies governing buyer information, providing innovative recourses to low quality goods and services and promoting early adoption of new and technologically advanced products. Moreover, the institution building in a country should be such that they facilitate and improve the capacity of firms to innovate. Therefore, the proposed study argues that country level institutions impact corporate social performance of firms, empirically validates the same, suggest policy implications and attempts to contribute to an extended understanding of corporate social responsibility and corporate social performance in a multinational context.

Keywords: corporate social performance, corporate social responsibility, institutions, markets

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Authors: Sabita Mahapatra

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‘Going green’ has been an emerging issue worldwide driving companies to continuously enhance their green capabilities and implement innovative green practices to protect the environment and improve business performance. Green has become a contemporary business environmental issue. The resource advantage theory is adopted in the present study to observe the impact of marketing orientation and green innovation practices on environmental and firm’s performance. The small and medium firms compared to large firms have different approach towards market orientation as a strategic tool. The present study proposes a conceptual framework regarding the impact of market orientation on environmental and firm’s performance through green innovation practices in the context of small and medium scale industries (SMEs). The propositions developed in the present paper would provide scope for future research study to validate the conceptual framework in the emerging economy like India.

Keywords: market orientation, green innovation practices, environment performance, corporate performance, emerging market

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Authors: Temitayo Olaitan

Abstract:

There is a growing concern about the quality of Nigerian tertiary education. This paper maintains that quality in tertiary education relates to the development of intellectual independence, which sharpens the minds of the individual and helps transform the society economically, socially and politically. However, the paper underscores underfunding as a critical challenge to the quality of teaching and learning in tertiary education. To this end, this paper emphasizes the role of internally generated revenue (IGR) and other alternative funding strategies (public-private partnership) as inevitable for quality tertiary education. This paper hinges on stakeholders approach as a means of ensuring quality teaching and learning in tertiary education. This paper recommends that school managers should seek professional and more efficient ways of developing their revenue generating systems. It also recommends that institutions should restructure to accommodate an alternative funding strategy such as private/corporate sponsorship to ensure that sustainable initiatives are created. The paper concludes that Nigerian government should come up with a policy on how private sectors should support in improving the quality of tertiary education through active participation in funding and physical facilities development in Nigerian higher institutions of learning.

Keywords: alternative funding, budgetary allocation, quality education, tertiary education

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Authors: Mohd Dahlan Abdul Malek, Muhamad Idris, Adi Fahrudin, Ida Shafinaz Mohamed Kamil, Husmiati Yusuf, Edeymend Reny Japil, Wan Anor Wan Sulaiman, Lailawati Madlan, Alfred Chan, Nurfarhana Adillah Aftar, Mahirah Masdin

Abstract:

This research intended to develop a valid and reliable instrument of the Satisfaction with Life Scale (SWLS) to measure satisfaction with life (SWL) constructs among public and private university students in Sabah, Malaysia, through the exploratory factor analysis (EFA) procedure. The pilot study obtained a sample of 108 students from public and private education institutions in Sabah, Malaysia, through an online survey using a self-administered questionnaire. The researchers performed the EFA procedure on SWL construct using IBM SPSS 25. The Bartletts' Test of Sphericity is highly significant (Sig. = .000). Furthermore, the sampling adequacy by Kaiser-Meyer-Olkin (KMO = 0.839) is excellent. Using the extraction method of Principal Component Analysis (PCA) with Varimax Rotation, a component of the SWL construct is extracted with an eigenvalue of 3.101. The variance explained for this component is 62.030%. The construct of SWL has Cronbach's alpha value of .817. The development scale and validation confirmed that the instrument is consistent and stable with both private and public college and university student samples. It adds a remarkable contribution to the measurement of SWLS, mainly in the context of higher education institution students. The EFA outcomes formed a configuration that extracts a component of SWL, which can be measured by the original five items established in this research. This research reveals that the SWL construct is applicable to this study.

Keywords: satisfaction, university students, measurement, scale development

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Authors: Petronella Jonck, Freda van der Walt

Abstract:

Despite the benefits of innovation diffusion in the South African public service, implementation thereof seems to be problematic, particularly with regard to e-governance which would enhance the quality of service delivery, especially accessibility, choice, and mode of operation. This paper reports on differences between the public service and the private sector in terms of innovation diffusion. Innovation diffusion will be investigated to explore identified obstacles that are hindering successful implementation of e-governance. The research inquiry is underpinned by the diffusion of innovation theory, which is premised on the assumption that innovation has a distinct channel, time, and mode of adoption within the organisation. A comparative thematic document analysis was conducted to investigate organisational differences with regard to innovation diffusion. A similar approach has been followed in other countries, where the same conceptual framework has been used to guide document analysis in studies in both the private and the public sectors. As per the recommended conceptual framework, three organisational characteristics were emphasised, namely the external characteristics of the organisation, the organisational structure, and the inherent characteristics of the leadership. The results indicated that the main difference in the external characteristics lies in the focus and the clientele of the private sector. With regard to organisational structure, private organisations have veto power, which is not the case in the public service. Regarding leadership, similarities were observed in social and environmental responsibility and employees’ attitudes towards immediate supervision. Differences identified included risk taking, the adequacy of leadership development, organisational approaches to motivation and involvement in decision making, and leadership style. Due to the organisational differences observed, it is recommended that differentiated strategies be employed to ensure effective innovation diffusion, and ultimately e-governance. It is recommended that the results of this research be used to stimulate discussion on ways to improve collaboration between the mentioned sectors, to capitalise on the benefits of each sector.

Keywords: E-governance, ICT, innovation diffusion, comparative analysis

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Authors: Magy Magdy Danial Riad

Abstract:

Introduction: Glycosides: Enzymatic and hydrolysis reactions of glycosides, mechanism of action, SAR, therapeutic uses and toxicity of glycosides. Cardiac glycosides of digitalis, bufa and squill. Structure of salicin, hesperidin and rutin. Glycosides are certain molecules in which a sugar part is bound to some other part. Glycosides play numerous important roles in living organisms. Formally, a glycoside is any molecule in which a sugar group is bonded through its anomeric carbon to another group and form glycosidic bonds via an O-glycosidic bond or an S-glycosidic bond; glycosides involving the latter are also called thioglycosides. The purpose: the addition of sugar be bonded to a non-sugar for the molecule to qualify as a glycoside, The sugar group is then known as the glycone and the non-sugar group as the aglycone or genin part of the glycoside. The glycone can consist of a single sugar group (monosaccharide) or several sugar groups (oligosaccharide). The glycone and aglycone portions can be chemically separated by hydrolysis in the presence of acid. Methods: There are also numerous enzymes that can form and break glycosidic bonds. Results: The most important cleavage enzymes are the glycoside hydrolases, and the most important synthetic enzymes in nature are glycosyltransferases. Mutant enzymes termed glycosynthases have been developed that can form glycosidic bonds. Conclusions: There are a great many ways to chemically synthesize glycosidic bonds.

Keywords: glycosides, bufa, squill, thioglycosides

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Authors: M. Chobotová, Ž. Rylková

Abstract:

Time full of changes which is associated with globalization, tougher competition, changes in the structures of markets and economic downturn, that all force companies to think about their competitive advantages. These changes can bring the company a competitive advantage and that can help improve competitive position in the market. Policy of the European Union is focused on the fast growing innovative companies which quickly respond to market demands and consequently increase its competitiveness. To meet those objectives companies need the right conditions and support of their state.

Keywords: innovation, performance, measurements metrics, indices

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Authors: Mengna Hu

Abstract:

This paper examines the impact of an anti-speculation tax policy on the trading activities and home price movements in the housing market in Hong Kong. The study focuses on the secondary residential property market where transactions dominate. The policy intervention substantially raised the transaction cost to speculators as well as genuine homeowners who dispose their homes within a certain period. Through the demonstration of structural breaks, our empirical results show that the rise in transaction cost effectively reduced speculative trading activities. However, it accelerated price increase in the small-sized segment by vastly demotivating existing homeowners from trading up to better homes, causing congestion in the lower-end market where the demand from first-time buyers is still strong. Apart from that, by employing regime switching approach, we further show that the unintended consequences are likely to be persistent due to this policy together with other strengthened cooling measures.

Keywords: transaction costs, housing market, structural breaks, regime switching

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