Search results for: traditional financial systems

Authors: Zahra Yazdani Paraii, Zohreh Yazdani Paraei

Abstract:

Many urban designers and planners have been involved in the design of environmentally friendly or nature adaptable urban development models due to increase in urban populations in the recent century, limitation on natural resources, climate change, and lack of enough water and food. Ecological city is one of the latest models proposed to accomplish the latter goal. In this work, the existing establishing indicators of the ecological city are used regarding energy, water, land use and transportation issues. The model is used to compare the function of traditional settlements of Iran. The result of investigation shows that the specifications and functions of the traditional settlements of Iran fit well into the ecological city model. It is found that the inhabitants of the old cities and villages in Iran had founded ecological cities based on their knowledge of the environment and its natural opportunities and limitations.

Keywords: ecological city, traditional city, urban design, environment

Procedia PDF Downloads 226

Authors: Ishay Wolf

Abstract:

In this study, the financial position of pension actors in the market during the pension system transition toward a more funded capitalized scheme is explored, mainly via an option benefit model. This is enabled by not considering the economy as a single earning cohort. We analytically demonstrate a socio-economic anomaly in the funded pension system, which is in favor of high earning cohorts on at the expense of low earning cohorts. This anomaly is realized by a lack of insurance and exposure to financial and systemic risks. Furthermore, the anomaly might lead to pension re-reform back to unfunded scheme, mostly due to political pressure. We find that a minimum pension guarantee is a rebalance mechanism to this anomaly, which increases the probability to of the sustainable pension scheme. Specifically, we argue that implementing the guarantee with an intra-generational, risk-sharing mechanism is the most efficient way to reduce the effect of this abnormality. Moreover, we exhibit the convergence process toward implementing minimum pension guarantee in many countries which have capitalized their pension systems during the last three decades, particularly among Latin America and CEE countries.

Keywords: benefits, pension scheme, put option, social security

Procedia PDF Downloads 109

Authors: Nikolaos Konstantopoulos, Aristeidis Samitas, Vasileiou Evangelos

Abstract:

The purpose of this study is to examine if the financial trends influence not only the stock markets’ returns, but also their anomalies. We choose to study the day of the week effect (DOW) for the Greek stock market during the Euro period (2002-12), because during the specific period there are not significant structural changes and there are long term financial trends. Moreover, in order to avoid possible methodological counterarguments that usually arise in the literature, we apply several linear (OLS) and nonlinear (GARCH family) models to our sample until we reach to the conclusion that the TGARCH model fits better to our sample than any other. Our results suggest that in the Greek stock market there is a long term predisposition for positive/negative returns depending on the weekday. However, the statistical significance is influenced from the financial trend. This influence may be the reason why there are conflict findings in the literature through the time. Finally, we combine the DOW’s empirical findings from 1985-2012 and we may assume that in the Greek case there is a tendency for long lived turn of the week effect.

Keywords: day of the week effect, GARCH family models, Athens stock exchange, economic growth, crisis

Procedia PDF Downloads 388

Authors: Patricia Chinyere Oranefo

Abstract:

This study examined the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. The dearth of empirical evidence and literature on “governance disclosure” as one of the explanatory variables of sustainability accounting reporting were the major motivation for this study. The main objective was to ascertain the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. An ex–post facto research design approach was adopted for the study. The population of this study comprises of five (5) Brewery firms quoted on the floor of the Nigeria exchange group (NSX) and the sample size of four (4) listed firms was drawn using purposive sampling method. Secondary data were carefully sourced from the financial statement/annual reports and sustainability reports from 2012 to 2021 of the Brewery firms quoted on the Nigeria exchange group (NSX). Panel regression analysis by aid of E-views 10.0 software was used to test for statistical significance of the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. The results showed that economic sustainability disclosure indexes do not significantly affect return on asset of listed Brewery firms in Nigeria. The findings further revealed that environmental sustainability disclosure indexes do not significantly affect return on equity of listed Brewery firms in Nigeria. More so, results showed that Social Sustainability disclosure indexes significantly affect Net Profit Margin of listed Brewery firms in Nigeria. Finally, the result established also that governance sustainability disclosure indexes do not significantly affect Earnings per share of listed Brewery firms in Nigeria. Consequent upon the findings, this study recommended among others; that managers of Brewers in Nigeria should improve and sustain full disclosure practices on economic, environmental, social and governance disclosures following the guidelines of the Global Reporting Index (GRI) as they are capable of exerting significant effect on financial performance of firms in Nigeria.

Keywords: sustainability, accounting, disclosure, financial performance

Procedia PDF Downloads 37

Authors: Maria Krambia-Kapardis, Elisavet Charalambous

Abstract:

Corruption has given rise to extensive discussion due to its notorious consequences. It undermines democracy, brings in inequalities and imbalances and weakens governance. With the recent financial turmoil pinpointing that corruption has played a vital part, lessons have to be learned and actions have to be taken. Regulation can be the means for doing so as it advances transparency and accountability, leaving no space for corruption to flourish. Much depends though on the culture of a state and how determined it is to mark the end of corruption.

Keywords: banking regulation, corruption, culture, European Union

Procedia PDF Downloads 496

Authors: Kindeye Fenta Mekonnen, Alagaw Ababu Kifle

Abstract:

The failure of international responses to armed conflict to address local preconditions for national stability has recently attracted what has been called the ‘local turn’ in peace building. This ‘local turn’ in peace building amplified a renewed interest in traditional/indigenous methods of conflict resolution, a field that has been hitherto dominated by anthropologists with their focus on the procedures and rituals of such approaches. This notwithstanding, there is still limited empirical work on the relevance of traditional methods of conflict resolution to end localized conflicts vis-à-vis hybrid and modern approaches. The few exceptions to this generally draw their conclusion from very few (almost all successful) cases that make it difficult to judge the validity and cross-case application of their results. This paper seeks to fill these gaps by undertaking a quantitative analysis of the trend and applications of different communal conflict resolution initiatives, their potential to usher in long-term peace, and the extent to which their outcomes are influenced by the intensity and scope of a conflict. The paper makes the following three tentative conclusions. First, traditional mechanisms and traditional actors still dominate the communal conflict resolution landscape, either individually or in combination with other methods. Second, traditional mechanisms of conflict resolution tend to be more successful in ending a conflict and preventing its re-occurrence compared to hybrid and modern arrangements. This notwithstanding and probably due to the scholarly call for local turn in peace building, contemporary communal conflict resolution approaches are becoming less and less reliant on traditional mechanisms alone and (therefore) less effective. Third, there is yet inconclusive evidence on whether hybridization is an asset or a liability in the resolution of communal conflicts and the extent to which this might be mediated by the intensity of a conflict.

Keywords: traditional conflict resolution, hybrid conflict resolution, communal conflict, relevance, conflict intensity

Procedia PDF Downloads 56

Authors: Nadezhda Kvatashidze

Abstract:

The conceptual framework of International Financial Reporting Standards determines the basic principles of accounting. The said principles have multiple applications, with professional judgments being one of those. Recognition and assessment of the information contained in financial reporting, especially so the somewhat uncertain events and transactions and/or the ones regarding which there is no standard or interpretation are based on professional judgments. Professional judgments aim at the formulation of expert assumptions regarding the specifics of the circumstances and events to be entered into the report based on the conceptual framework terms and principles. Experts have to make a choice in favor of one of the aforesaid and simulate the situations applying multi-variant accounting estimates and judgment. In making the choice, one should consider all the factors, which may help represent the information in the best way possible. Professional judgment determines the relevance and faithful representation of the presented information, which makes it more useful for the existing and potential investors. In order to assess the prospected net cash flows, the information must be predictable and reliable. The publication contains critical analysis of the aforementioned problems. The fact that the International Financial Reporting Standards are developed continuously makes the issue all the more important and that is another point discussed in the study.

Keywords: conceptual framework, faithful representation, professional judgement, relevance

Procedia PDF Downloads 196

Authors: O. Colot, M. Croquet, L. Cultrera, Y. Fandja Collince

Abstract:

The objective of our research is to evaluate the impact of the allowance for corporate equity (ACE) on the financial structure of Belgian SME in order to highlight the potential existence of a fiscal leverage. To limit the biases linked to the rationing of the capital further to the financial crisis, we compare first the dynamic evolution of the financial structure of the Belgian firms over the period 2006-2015 by focusing on three sub-periods: 2006-2008, 2009-2012 and 2013-2015. We give then an international size to this comparison by including SMEs from countries adjoining Belgium (France, Germany, Netherlands and the United Kingdom) and within which there is no ACE. This comparison allows better understanding the fiscal advantage linked to the ACE of firms evolving in a relatively unstable economic environment further to the financial crisis of 2008. This research is relevant given the economic and political context in which Belgium operates and the very uncertain future of the Belgian ACE. The originality of this research is twofold: the long study period and the consideration of the effects of the financial and economic crisis on the financing structure of Belgian SMEs. The results of this research, even though they confirm the existence of a positive fiscal leverage for the tax deduction for venture capital on the financing structure of Belgian SMEs, do not allow the extent of this leverage to be clearly quantified. The comparative evolution of financing structures over the period 2006-2015 of Belgian, French, German, Dutch and English SMEs shows a strong similarity in the overall evolution of their financing.

Keywords: allowance for corporate equity, Belgium, financial structure, small and medium sized firms

Procedia PDF Downloads 185

Authors: Ejovi Eghwubare Augustine

Abstract:

This study delved into the traditional mechanisms of conflict resolution in Africa, a pathway to sustainable peace in Nigeria. It deployed the quantitative and qualitative methods of data collection and content analysis. The work adopted the Peace Process theory propounded by John Darby and Roger Macunity. It ascertained that disputes or disagreements are unarguably and necessarily an inevitable part of human existence, flowing directly from communication, interaction, and relationships which can occur at individual and national levels, even at international levels in view of the current trend of globalization. The alternative Dispute Resolution (ADR) mechanism is a basket of procedures outside the traditional process of litigation or strict determination of legal rights. It may also be elucidated as a range of procedures that serve as generally involve the intercession and assistance of a neutral and impartial third party. The traditional mechanisms of conflict resolution in Africa are alien to the Western world; this paper is of utmost importance to the Western world and also enriched their pool of literature. Nigeria is a country that is dominated by various ethnic groups anchored on diverse cultures, customs, and traditions. It is, therefore, not surprising to see conflicts arise, and despite the various attempts at resolving these conflicts through litigation, they still remained unabated. The paper investigated the lessons learned from Traditional Mechanisms of Conflict resolution; it also interrogated its impact and the way forward. In light of the lessons that were learned and the impact of the traditional mechanisms of conflict resolution, suggestions on how to attain a sustainable, peaceful society were proffered. In conclusion, the study crystallized reforms on the alternative dispute resolution introduced through the traditional mechanism, which includes, amongst others, that constitutional recognition should be given to traditional institutions of conflict resolution to enable quick dispensation of matters.

Keywords: traditional, conflict, peace, resolution

Procedia PDF Downloads 55

Authors: Aida Humaira

Abstract:

Aromatic plants hold an honored place in Indonesian culture, where they are deeply intertwined with everyday customs, rituals, and ceremonies. From the fragrant herbs and spices used in cooking to the aromatic incense burned in temples and homes, aromatic plants play multifaceted roles in enhancing well-being and fostering spiritual connections. These plants are valued not only for their pleasant aromas but also for their medicinal properties and symbolic meanings. This article aims to summarize the role of aromatic plants in Indonesian traditional culture, medicine, spirituality, and how it shifted to a modern version of aromatherapy. Traditional Indonesian medicine, known as Jamu, relies heavily on aromatic plants for their therapeutic benefits. Herbalists and traditional healers use a wide array of aromatic herbs, roots, barks, and resins to treat various ailments, ranging from digestive disorders and respiratory infections to skin conditions and reproductive issues. In conclusion, aromatic plants represent a cultural treasure with multifaceted uses and significance deeply rooted in Indonesia’s tradition. From their medicinal properties to their spiritual symbolism, these plants embody the interconnection of culture, nature, and well-being. Further research and collaboration are needed to document and preserve traditional knowledge surrounding Indonesian aromatic plants and ensure their continued recognition and sustainable utilization in the face of modernization and environmental challenges.

Keywords: aromatic plants, indonesia, Jamu, traditional medicine

Procedia PDF Downloads 35

Authors: Manfred F. Maute, Olga Naumenko, Raymond T. Kong

Abstract:

Using data from a nationally representative financial panel of Canadian households, this study develops a psychographic segmentation of the customers of a value-expressive credit card service and tests for effects on relational response differences. The variety of segments elicited by agglomerative and k means clustering and the familiar profiles of individual clusters suggest that the face validity of the psychographic segmentation was quite high. Segmentation had a significant effect on customer satisfaction and relationship depth. However, when socio-demographic characteristics like household size and income were accounted for in the psychographic segmentation, the effect on relational response differences was magnified threefold. Implications for the segmentation of financial services markets are considered.

Keywords: customer satisfaction, financial services, psychographics, response differences, segmentation

Procedia PDF Downloads 311

Authors: Ambali Alade Odebowale, Andargachew Mekonnen Berhe, Haroldo T. Hattori, Andrey E. Miroshnichenko

Abstract:

Solar thermophotovoltaic systems (STPV) have emerged as a promising solution to overcome the Shockley-Queisser limit, a significant impediment in the direct conversion of solar radiation into electricity using conventional solar cells. The STPV system comprises essential components such as an optical concentrator, selective emitter, and a thermophotovoltaic (TPV) cell. The pivotal element in achieving high efficiency in an STPV system lies in the design of a spectrally selective emitter or absorber. Traditional methods for designing and optimizing selective emitters are often time-consuming and may not yield highly selective emitters, posing a challenge to the overall system performance. In recent years, the application of machine learning techniques in various scientific disciplines has demonstrated significant advantages. This paper proposes a novel nanostructure composed of four-layered materials (SiC/W/SiO2/W) to function as a selective emitter in the energy conversion process of an STPV system. Unlike conventional approaches widely adopted by researchers, this study employs a machine learning-based approach for the design and optimization of the selective emitter. Specifically, a random forest algorithm (RFA) is employed for the design of the selective emitter, while the optimization process is executed using genetic algorithms. This innovative methodology holds promise in addressing the challenges posed by traditional methods, offering a more efficient and streamlined approach to selective emitter design. The utilization of a machine learning approach brings several advantages to the design and optimization of a selective emitter within the STPV system. Machine learning algorithms, such as the random forest algorithm, have the capability to analyze complex datasets and identify intricate patterns that may not be apparent through traditional methods. This allows for a more comprehensive exploration of the design space, potentially leading to highly efficient emitter configurations. Moreover, the application of genetic algorithms in the optimization process enhances the adaptability and efficiency of the overall system. Genetic algorithms mimic the principles of natural selection, enabling the exploration of a diverse range of emitter configurations and facilitating the identification of optimal solutions. This not only accelerates the design and optimization process but also increases the likelihood of discovering configurations that exhibit superior performance compared to traditional methods. In conclusion, the integration of machine learning techniques in the design and optimization of a selective emitter for solar thermophotovoltaic systems represents a groundbreaking approach. This innovative methodology not only addresses the limitations of traditional methods but also holds the potential to significantly improve the overall performance of STPV systems, paving the way for enhanced solar energy conversion efficiency.

Keywords: emitter, genetic algorithm, radiation, random forest, thermophotovoltaic

Procedia PDF Downloads 34

Authors: Fatemeh Norouzi

Abstract:

Today, financial performance has become one of the important issues in accounting and auditing that companies and their managers have paid attention to this issue and for this reason to the variables that are influential in this field. One of the things that can affect financial performance is corporate governance, which is examined in this research, although some things such as issues related to auditing can also moderate this relationship; Therefore, this research has been conducted with the aim of investigating the relationship between corporate governance and financial performance with regard to the moderating role of feedback and internal control weakness. The research is practical in terms of purpose, and in terms of method, it has been done in a post-event descriptive manner, in which the data has been analyzed using stock market data. Data collection has been done by using stock exchange data which has been extracted from the website of the Iraqi Stock Exchange, the statistical population of this research is all the companies admitted to the Iraqi Stock Exchange. . The statistical sample in this research is considered from 2014 to 2021, which includes 34 companies. Four different models have been considered for the research hypotheses, which are eight hypotheses, in this research, the analysis has been done using EXCEL and STATA15 software. In this article, collinearity test, integration test ,determination of fixed effects and correlation matrix results, have been used. The research results showed that the first four hypotheses were rejected and the second four hypotheses were confirmed.

Keywords: size of the board of directors, duality of the CEO, financial performance, internal control weakness

Procedia PDF Downloads 67

Authors: Khin Thandar Soe, Mark Stephen Pulham

Abstract:

Ballistic building materials play a crucial role in ensuring the safety of the occupants within protective structures. Traditional options like Ordinary Portland Cement (OPC)-based walls, including reinforced concrete walls, precast concrete walls, masonry walls, and concrete blocks, are frequently employed for ballistic protection, but they have several drawbacks such as being thick, heavy, costly, and challenging to construct. On the other hand, glass and composite materials offer lightweight and easier construction alternatives, but they come with a high price tag. There has been no reported test data on magnesium-based ballistic wall panels or modular wall systems so far. This paper presents groundbreaking small arms test data related to the development of the world’s first magnesia cement ballistic wall panels and modular wall system. Non-hydraulic magnesia cement exhibits several superior properties, such as lighter weight, flexibility, acoustics, and fire performance, compared to the traditional Portland Cement. However, magnesia cement is hydrophilic and may degrade in prolonged contact with water. In this research, modified magnesia cement for water resistant and durability from UBIQ Technology is applied. The specimens are made of a modified magnesia cement formula and prepared in the Laboratory of UBIQ Technology Pty Ltd. The specimens vary in thickness, and the tests cover various small arms threats in compliance with standards AS/NZS2343 and UL752 and are performed up to the maximum threat level of Classification R2 (NATO) and UL-Level 8(NATO) by the Accredited Test Centre, BMT (Ballistic and Mechanical Testing, VIC, Australia). In addition, the results of the test conducted on the specimens subjected to the small 12mm diameter steel ball projectile impact generated by a gas gun are also presented and discussed in this paper. Gas gun tests were performed in UNSW@ADFA, Canberra, Australia. The tested results of the magnesia panels and wall systems are compared with one of concrete and other wall panels documented in the literature. The conclusion drawn is that magnesia panels and wall systems exhibit several advantages over traditional OPC-based wall systems, and they include being lighter, thinner, and easier to construct, all while providing equivalent protection against threats. This makes magnesia cement-based materials a compelling choice of application where efficiency and performance are critical to create a protective environment.

Keywords: ballistics, small arms, gas gun, projectile, impact, wall panels, modular, magnesia cement

Procedia PDF Downloads 44

Authors: Mabel Usunobun Olanipekun, Henry Ogbemudia Omoregbee

Abstract:

Anomalies such as water pipeline and hydraulic or petrochemical pipeline network leakages and bursts have significant implications for economic conditions and the environment. In order to ensure pipeline systems are reliable, they must be efficiently controlled. Wireless Sensor Networks (WSNs) have become a powerful network with critical infrastructure monitoring systems for water, oil and gas pipelines. The loss of water, oil and gas is inevitable and is strongly linked to financial costs and environmental problems, and its avoidance often leads to saving of economic resources. Substantial repair costs and the loss of precious natural resources are part of the financial impact of leaking pipes. Pipeline systems experts have implemented various methodologies in recent decades to identify and locate leakages in water, oil and gas supply networks. These methodologies include, among others, the use of acoustic sensors, measurements, abrupt statistical analysis etc. The issue of leak quantification is to estimate, given some observations about that network, the size and location of one or more leaks in a water pipeline network. In detecting background leakage, however, there is a greater uncertainty in using these methodologies since their output is not so reliable. In this work, we are presenting a scalable concept and simulation where a pressure-driven model (PDM) was used to determine water pipeline leakage in a system network. These pressure data were collected with the use of acoustic sensors located at various node points after a predetermined distance apart. We were able to determine with the use of correlation difference to determine the leakage point locally introduced at a predetermined point between two consecutive nodes, causing a substantial pressure difference between in a pipeline network. After de-noising the signal from the sensors at the nodes, we successfully obtained the exact point where we introduced the local leakage using the correlation difference model we developed.

Keywords: leakage detection, acoustic signals, pipeline network, correlation, wireless sensor networks (WSNs)

Procedia PDF Downloads 70

Authors: Safa Ougoujil, Sidi Mohamed Rigar

Abstract:

Economics is not an exact science. It cannot be from the moment it is a social science that concerns society organization, a human science that depends on the behavior of the men and women who make a part of this society. Therefore, it cannot ignore morality, the instinctive sense of good and evil, the natural order which place us between certain values, and which religion often sheds light on. In terms of finance, the reference to ethics is becoming more popular than ever. This is naturally due to the growing financial crises. Finance is less and less ethical, but some financial practices have continued to do so. This is the case of ethical finance and Islamic finance. After attempting to define the concepts of ethical finance and Islamic finance, in a period when financial innovation seeks to encourage differentiation in order to create more profit margins, this article attempts to expose the particularities, the convergences and the potentialities of development of these two sensibilities.

Keywords: convergences, ethical finance, Islamic finance, potential development

Procedia PDF Downloads 176

Authors: P. Efstathiou, E. Kouskouni, S. Papanikolaou, K. Karageorgou, Z. Manolidou, Tseroni Maria, A. Efstathiou, V. Karyoti, I. Agrafa

Abstract:

Aim: Aim of this study was to evaluate the reduction on Intensive Care Unit (ICU) microbial flora after the antimicrobial copper alloy (Cu+) implementation as well as the effect on financial-epidemiological operation parameters. Methods: Medical, epidemiological and financial data in two time periods, before and after the implementation of copper (Cu 63% - Zn 37%, low lead) were recorded and analyzed in a general ICU. The evaluated parameters were: the importance of patients' admission (Acute Physiology and Chronic Health Evaluation - APACHE II and Simplified Acute Physiology Score - SAPS), microbial flora's record in the ICU before and after the implementation of Cu+ as well as the impact on epidemiological and ICU's operation financial parameters. Results: During December 2010 and March 2011 and respectively during December 2011 and March 2012 comparative results showed statistically significant reduction on the microbial flora (CFU/ml) by 95% and the use of antimicrobial medicine (per day per patient) by 30% (p = 0,014) as well as patients hospitalization time and cost. Conclusions: The innovative implementation of antimicrobial copper in ICUs contributed to their microbial flora significant reduction and antimicrobial drugs use reduction with the apparent positive effect (decrease) in both patient’s hospitalization time and cost. Under the present circumstances of economic crisis, survey results are of highest importance and value.

Keywords: antimicrobial copper, financial benefits, ICU, cost reduction

Procedia PDF Downloads 447

Authors: Marijana Ivanov, Roman Šubić

Abstract:

The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, represent important steps towards completing the Economic and Monetary Union. It should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim that a former practice of the bail-out is replaced with the bail-in system through which bank failures will be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. It has to reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities, and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the single interbank money market. However, contrary to all the positive expectations related to the future functioning of the banking union, low and unbalanced economic growth rates remain a challenge for the maintenance of financial stability in the euro area, and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times, and large banks are still a matter of concern because of their systemic importance for individual countries and the euro zone as a whole. The creation of the SSM and the SRM should increase transparency of the banking system in the euro area and restore confidence that have been disturbed during the depression. It would provide a new opportunity to strengthen economic and financial systems in the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented to the large and significant banks (whereby one half of them operate in the core and most important euro area countries), while it is questionable to what extent the common resolution funds will be used for rescue of less important institutions.

Keywords: banking union, financial integration, single supervision mechanism (SSM)

Procedia PDF Downloads 449

Authors: H. Shokouhmand, M. Degheh, B. Sajadi, H. Sobhani

Abstract:

The induct ultraviolet germicidal irradiation (UVGI) systems are broadly used nowadays and their utilization is widened every day. Even though these systems are not applicable individually, they are very suitable supplements for the traditional filtration systems. The amount of inactivated microorganisms is dependent on the air velocity, lamp power, fluence rate distribution, and also germicidal susceptibility of microorganisms. In this paper, these factors are investigated utilizing an air-microorganism two-phase numerical model. The eulerian-lagrangian method was used to have more detailed information on the history of each particle. The UVGI system was modeled in three steps including: 1) modeling the air flow, 2) modeling the discrete phase of particles, 3) modeling the UV intensity field, and 4) modeling the particle inactivation. The results from modeling different lamp arrangements and powers showed that the system functions better at more homogeneous irradiation distribution. Since increasing the air flow rate of the device results in increasing of particle inactivation rate, the optimal air velocity shall be adjusted in accordance with the microorganism production rate, and the air quality requirement using the curves represented in this paper.

Keywords: CFD, microorganism, two-phase flow, ultraviolet germicidal irradiation

Procedia PDF Downloads 304

Authors: Miriam Sosa, Edgar Ortiz, Alejandra Cabello

Abstract:

This paper examines the volatility changes and leverage effects of the MILA stock markets and their changes since the 2007 global financial crisis. This group integrates the stock markets from Chile, Colombia, Mexico and Peru. Volatility changes and leverage effects are tested with a symmetric GARCH (1,1) and asymmetric TARCH (1,1) models with a dummy variable in the variance equation. Daily closing prices of the stock indexes of Chile (IPSA), Colombia (COLCAP), Mexico (IPC) and Peru (IGBVL) are examined for the period 2003:01 to 2015:02. The evidence confirms the presence of an overall increase in asymmetric market volatility in the Peruvian share market since the 2007 crisis.

Keywords: financial crisis, Latin American Integrated Market, TARCH, GARCH

Procedia PDF Downloads 254

Authors: Glaucia Maricato

Abstract:

Our research deals with specific use of DNA tests in Brazil – aimed at financial reparation for the institutionalized and otherwise scattered offspring of leprosy patients who, from the 1920s up through the 1980s, were subjected to compulsory internment in the 'hospital-colonies', specialized in the containment of Hansen’s disease. Through a social movement, the ex-patients themselves gained the right, in 2007, to financial compensations. At the moment, the movement is seeking reparation for the (now adult) children of these people as well. Many of these children grew up in orphanages, in adopted families, or do not have official documents to prove their family belonging. In 2011, a team of Brazilian geneticists had volunteered their services, applying DNA tests in order to ascertain the connection of certain individuals to an ex-internee of the leprosarium. We have accompanied the activities in four different ex-colonies in order to understand how the DNA test was being signified by those being tested, and how the test fit into already existent notions of family. Inspired in the writings of scholars such as Sheila Jasanoff and Helena Machado, we examine the possibility of a 'geneticization of family ties' when people are obliged to back their claim for human rights by producing legal proof based on blood tests. However, in like fashion to other ethnographic studies on this theme, we encountered among tested adults a number of creative strategies that allow for the co-existence of the idea of 'scientifically-based' blood ties alongside other more traditional ways of signifying kinship.

Keywords: human rights, social movements, DNA tests, Hansen's disease

Procedia PDF Downloads 112

Authors: Sawsan Domi

Abstract:

Identifying urban patterns of traditional settlements perfumed in various ways. One of them through the three-dimensional ‘reading’ of the urban web: the density of structures, the construction materials and the colors used. Objectives of this study are to paraphrase and understand the relation between the formation of the traditional settlements and the shape and structure of their structural method. In the beginning, the study considered the components of the historical neighborhood, which reflected the social and economical effects in the urban planning pattern. Then, by analyzing the main components of the old neighborhood which included: analysis of urban patterns & streets systems, analysis of traditional architectural elements and the construction materials and their usage. ‘’Hamasa’’ Neighborhood in ‘’Al Buraimi’’ Governorate is considered as one of the most important archaeological sites in the Sultanate of Oman. The vivid features of this archaeological site are the living witness to the genius of the Omani person and his unique architecture. ‘’Hamasa’’ Neighborhood is also considered as the oldest human settlement at ‘’Al Buraimi’’ Governorate. It used to be the gathering area for Arab and Omani tribes who are coming from other governorates of Oman. In this old settlement, local characters were created to meet the climate problems and the social, religious requirements of the life. Traditional buildings were built of materials that were available in the surround environment and within hand reach. The Historical component was containing four main separate neighborhoods. The morphological structure of ‘’Hamasa’’ was characterized by a continuous and densely built-up pattern, featuring close interdependence between the spatial and functional pattern. The streets linked the plots, the marketplace and the open areas. Consequently, the traditional fabric had narrow streets with one- and two- storey houses. The material used in building facilities at ‘’Hamasa’' historical are from the traditionally used materials. These materials were cleverly used in building of local facilities. Most of these materials are locally made and formed, and used by the locals. ‘’Hamasa’’ neighborhood is an example of analyzing the urban patterns and geometrical features. The old ‘’ Hamasa’’ retains the patterns of its old settlements. Urban patterns were defined by both forms and structure. The traditional architecture of ‘’Hamasa’’ neighborhood has evolved as a direct result of its climatic conditions. The study figures out that the neighborhood characterized by the used construction materials, the scope of the residential structures and by the streets system. All formed the urban pattern of the settlement.

Keywords: urban pattern, construction materials, neighborhood, architectural elements, historical

Procedia PDF Downloads 74

Authors: Mai Al-Subaie

Abstract:

This research suggests that women in traditional families of Saudi Arabia are divided into two groups, the one who conform to the society and the new type of women that has been emerged due to the changing and development of the culture, who do not want to conform to the rules. The factors underlying the differences were explored by using a test and an interview. That concluded some of the main factors that were a real effect of why some women still want to follow the society and traditional rules, and other want to break free.

Keywords: conformity, non conformity, females, Saudi Arabia

Procedia PDF Downloads 491

Authors: Kyoung-Jae Kim

Abstract:

Collaborative Filtering (CF) is a popular technique for the personalization in the E-commerce domain to reduce information overload. In general, CF provides recommending items list based on other similar users’ preferences from the user-item matrix and predicts the focal user’s preference for particular items by using them. Many recommender systems in real-world use CF techniques because it’s excellent accuracy and robustness. However, it has some limitations including sparsity problems and complex dimensionality in a user-item matrix. In addition, traditional CF does not consider the emotional interaction between users. In this study, we propose recommender systems using social network and singular value decomposition (SVD) to alleviate some limitations. The purpose of this study is to reduce the dimensionality of data set using SVD and to improve the performance of CF by using emotional information from social network data of the focal user. In this study, we test the usability of hybrid CF, SVD and social network information model using the real-world data. The experimental results show that the proposed model outperforms conventional CF models.

Keywords: recommender systems, collaborative filtering, social network information, singular value decomposition

Procedia PDF Downloads 271

Authors: Engy Eissa, Dina M. Yousri

Abstract:

COVID-19 has hit massively the world economy, financial markets and even societies’ livelihood. The infectious disease caused by the most recently discovered coronavirus was claimed responsible for a shrink in the global economy by 4.4% in 2020. Shortly after the first case in Wuhan was identified, a quick surge in the number of confirmed cases in China was evident and a vast spread worldwide is recorded with cases surpassing the 500,000 cases. Irrespective of the disease’s trajectory in each country, a call for immediate action and prompt government intervention was needed. Given that there is no one-size-fits-all approach across the world, a number of containment and adoption policies were embraced. It was starting by enforcing complete lockdown like China to even stricter policies targeted containing the spread of the virus, augmenting the efficiency of health systems, and controlling the economic outcomes arising from this crisis. Hence, this paper has three folds; first, it examines the impact of containment policies taken by governments on controlling the number of cases and deaths in the given countries. Second, to assess the ramifications of COVID-19 on financial markets measured by stock returns. Third, to study the impact of containment policies measured by the government response index, the stringency index, the containment health index, and the economic support index on financial markets performance. Using a sample of daily data covering the period 31st of January 2020 to 15th of April 2021 for the 10 most hit countries in wave one by COVID-19 namely; Brazil, India, Turkey, Russia, UK, USA, France, Germany, Spain, and Italy. The aforementioned relationships were tested using Panel VAR Regression. The preliminary results showed that the number of daily deaths had an impact on the stock returns; moreover, the health containment policies and the economic support provided by the governments had a significant effect on lowering the impact of COVID-19 on stock returns.

Keywords: COVID-19, government policies, stock returns, VAR

Procedia PDF Downloads 162

Authors: Melissa James Maceachern

Abstract:

This study examines a financial aid program that is designed to “keep residents at home” to attend higher education by providing financial aid as an incentive or discount in their first year of university following high school graduation. This study offers insight into financial matters for higher education students that can assist in providing policy direction for student financing. In particular, this study found that students appeared to value the bursary but none of the key metrics related to participation or conversion to the home institution indicated that the bursary impacted enrolment or participation. One key metric, student loans received by direct entry high school students did indicate a decline in the number of recipients. This study also identified accessibility issues to higher education that are of importance when considering the declining youth populations, future labour market needs and the need to sustain higher education institutions. This is undoubtedly a challenging period of time given the changing social and demographic forces within Canada. A comprehensive examination of the policy and programs to address these forces needs to be undertaken. This study highlights the importance of utilizing financial aid in combination with other policy to assist students in accessing higher education.

Keywords: accessibility, participation, financing, government

Procedia PDF Downloads 399

Authors: Luljeta Plakolli-Kasumi

Abstract:

In the digital age, the relationship between traditional property rights and online intellectual property rights is becoming increasingly complex. On the one hand, the internet and advancements in technology have allowed for the widespread distribution and use of digital content, making it easier for individuals and businesses to access and share information. On the other hand, the rise of digital piracy and illegal file-sharing has led to increased concerns about the protection of intellectual property rights. This paper aims to examine the relationship between traditional property rights and online intellectual property rights in the digital age by analyzing the current legal frameworks, key challenges and controversies that arise, and potential solutions for addressing these issues. The paper will look at how traditional property rights concepts such as ownership and possession are being applied in the online context and how they intersect with new and evolving forms of intellectual property such as digital downloads, streaming services, and online content creation. It will also discuss the tension between the need for strong intellectual property protection to encourage creativity and innovation and the public interest in promoting access to information and knowledge. Ultimately, the paper will explore how the legal system can adapt to better balance the interests of property owners, creators, and users in the digital age.

Keywords: intellectual property, traditional property, digital age, digital content

Procedia PDF Downloads 74

Authors: Ahmed BenSaïda

Abstract:

This paper investigates the association between financial technology (FinTech) growth and bank performance in the Gulf Cooperation Council (GCC) region. Application is conducted on a panel dataset containing the annual observations of banks covering the period from 2012 to 2021. FinTech growth is set as an explanatory variable on three proxies of bank performance. These proxies are the return on assets (ROA), return on equity (ROE), and net interest margin (NIM). Moreover, several control variables are added to the model, including bank-specific and macroeconomic variables. The results are significant as all the proxies of the bank performance are negatively affected by the growth of FinTech startups. Consequently, banks are urged to proactively invest in FinTech startups and engage in partnerships to avoid the risk of disruption.

Keywords: financial technology, bank performance, GCC countries, panel regression

Procedia PDF Downloads 58

Authors: Aleksandra Szunke

Abstract:

Monetary policy is an important pillar of the economy, directly affecting on the condition of banking sector. Depending on the strategy may both support functioning of banking institutions, as well as limit their excessively risky activities. The literature studies indicate a large number of publications, which include characteristics of initiatives, implemented by central banks during the global financial crisis and the potential effects of the use of non-standard monetary policy instruments. However, the empirical evidence about their effects and real consequences for the financial markets are still not final. Even before the escalation of instability, Bernanke, Reinhart, and Sack (2004) analyzed the effectiveness of various unconventional monetary tools in lowering long-term interest rates in the United States and Japan. The obtained results largely confirmed the effectiveness of the zero-interest-rate policy and Quantitative Easing (QE) in achieving the goal of reducing long-term interest rates. Japan, considered as the precursor of QE policy, also conducted research about the consequences of non-standard instruments, implemented to restore financial stability of the country. Although the literature about the effectiveness of Quantitative Easing in Japan is extensive, it does not uniquely specify whether it brought permanent effects. The main aim of the study is to identify the implications of non-standard monetary policy, implemented by selected central banks (the Federal Reserve System, Bank of England and European Central Bank), paying particular attention to the consequences into three areas: the size of money supply, financial markets, and the real economy.

Keywords: consequences of modern monetary policy, quantitative easing policy, banking sector instability, global financial crisis

Procedia PDF Downloads 455

Authors: Tahra El-Obeid, Reham Mousa, Amal Alzahiri

Abstract:

During the past few years the traditional market of Qatar has become an attraction to many customers who eat from the numerous women street vendors selling Qatari traditional dishes. To gain an understanding on the safety of these street vended foods, we designed the study to test microbiological quality of 14 different Qatari foods sold in Souk Wagif, the main traditional market in Qatar. This study was conducted to mainly identify presence or absence of microbial pathogens. A total of 56 samples were purchased from 10 different street vendors and the samples were collected randomly on different days. The samples were tested for microbial contaminants at Central Food Laboratories, Doha, Qatar. The qualitative study was conducted using Real Time-PCR to screen for; Salmonella spp., Listeria monocytogenes, Escherichia coli and E. coli 0157:H7. Out of the 56 samples, only two samples “Biryani” and “Khabess” contained E. coli. However, both samples tested negative for E. coli O157:H7. The microbial contamination of the Qatari traditional street vended foods was 3%. This result may be attributed to the food safety training requirement set by the regulatory authorities before issuing any license to food handlers in Qatar as well as the food inspection conducted by the food health inspectors on a regular basis.

Keywords: microbiological quality, street vended food, traditional dishes, Qatar

Procedia PDF Downloads 287