Search results for: private equity

Authors: Vanessa R. Ralph, Kathryn N. Hosbein, Megan Y. Deshaye, Paulette Vincent-Ruz

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The language of the statement “persistent achievement gaps between demographic groups” communicates much about the philosophies inherent to the author. In this synthesis of two flagship journals of Chemistry Education Research: Chemistry Education Research and Practice and the Journal of Chemical Education, the use and investigation of equity was examined by the language, epistemology, and methodologies of the researchers. Findings include a considerable increase in the use and investigation of equity in these journals following the years 2012 and 2020. While an increase in consciousness of equity was apparent, epistemologies were stagnated. The majority reflects a deficit-oriented perspective wherein deficits are attributed to students as a “lack of achievement” inherent to specific “demographic groups” and minimized as “gaps” rather than systemic inequities. The lack of epistemological progress may be the result of reading and citing literature within discipline-based education research, failing to acknowledge the efforts propagated for decades by equity theory advancement in disciplines of sociology and psychology. To envision liberated educational systems across the globe, one must first contend with the biases within.

Keywords: liberating education research, philosophy of research, synthesis, review

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Authors: Peng Lu, Liu Ting

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Because of the difficulty of financing from the external capital market, the reorganization and merger of private enterprises have formed a family group, seeking the help of the internal capital market to alleviate the capital demand. However, the inefficiency of the internal capital market can damage the effect it should have played, and even hinder the development of enterprises. This paper takes the "Tomorrow Group" as the research object to carry on the case analysis. After using the improved cash flow sensitivity coefficient to measure the efficiency of the internal capital market of Tomorrow Group, the inefficiency phenomenon is found. Then the analysis reveals that the reasons for its inefficiency include that the pyramidal equity structure is conducive to control, the separation of cash flow rights and control rights, the concentration of equity leads to poor balance, the abandonment of real industries and information asymmetry.

Keywords: tomorrow group, internal capital market, related-party transactions, Baotou tomorrow technology Co., LTD

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Authors: Yu Sing Ong

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This article explores the key issues and challenges facing private university leaders today. Universities are reculturing their operational processes, academic content and interactions with stakeholders. Many challenges centred around the need for university leaders to reculture the institutions and the redesigning of the teaching profession. It recommends a framework for university leaders to deal with the challenges they face. Only through reculturing, private universities can maintain the sustainability of its workforce and student population. The article has both theoretical and practical significance for private university leaders to follow.

Keywords: university leadership, reculturing, improvement, teacher education, motivation, private education

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Authors: Jonathan Iworiso

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Forecasting the equity premium out-of-sample is a major concern to researchers in finance and emerging markets. The quest for a superior model that can forecast the equity premium with significant economic gains has resulted in several controversies on the choice of variables and suitable techniques among scholars. This research focuses mainly on the application of Regression Training (RT) techniques to forecast monthly equity premium out-of-sample recursively with an expanding window method. A broad category of sophisticated regression models involving model complexity was employed. The RT models include Ridge, Forward-Backward (FOBA) Ridge, Least Absolute Shrinkage and Selection Operator (LASSO), Relaxed LASSO, Elastic Net, and Least Angle Regression were trained and used to forecast the equity premium out-of-sample. In this study, the empirical investigation of the RT models demonstrates significant evidence of equity premium predictability both statistically and economically relative to the benchmark historical average, delivering significant utility gains. They seek to provide meaningful economic information on mean-variance portfolio investment for investors who are timing the market to earn future gains at minimal risk. Thus, the forecasting models appeared to guarantee an investor in a market setting who optimally reallocates a monthly portfolio between equities and risk-free treasury bills using equity premium forecasts at minimal risk.

Keywords: regression training, out-of-sample forecasts, expanding window, statistical predictability, economic significance, utility gains

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Authors: B. Gangloff, L. Mayoral, A. Rezrazi

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Three types of salary distribution are usually proposed by the theorists of distributive justice: Equality, equity and need. Their influence has been studied, taking into consideration (in terms of equity) the performance of the employees and their degree of allegiance/rebellion in what regards discriminatory hierarchical orders, by taking into account the reasons of such allegiance/rebellion (allegiance out of conviction, legalism or opportunism/ethical rebellion). Conducted in Argentina, the study has confronted 480 students (240 male and 240 female) with a practical case in which they had to advise a manager of a real estate agency on the allocation of a bonus amongst his employees. The latter were characterized according to their respective performance, one of them being further defined as being (or not) in a financial need and as having complied (or not) with a discriminatory hierarchical order regarding foreigners. The results show that the distribution of the bonus only follows the rules of equity and need: The employees more efficient, allegiant or in need, are rewarded more than the others. It is also noteworthy that the allegiant employees are rewarded in the same way, regardless of the reason for their allegiance, and that the employee who refuses to adopt a discriminatory conduct is penalized.

Keywords: distributive justice, equity, performance, allegiance, ethics

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Authors: Jordan Shuler

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The goal of this study is to determine whether real-time language translation benefits ESL learners by contributing to overall equity in the classroom. Equity will be measured quantitatively through assessment performance and qualitatively through student survey. Two separate sections of students studying the same course will receive identical curriculum: one group, the control, will be taught in English and the other group in English with real-time translation into the students' first languages. The professor will use Microsoft Translator during lectures, in-class discussions, and Q&A time. The college is committed to finding new ways of teaching and learning, as outlined in Strategy 2022. If this research finds a positive relationship between language translation and student academic success, the technology will surely be encouraged for adoption by all George Brown College faculty. With greater acceptance, this technology could influence equity and pedagogy in the larger educational community.

Keywords: ESL learners, equity, innovative teaching strategies, language translation

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Authors: Gulnara Moldasheva

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The research explores the relationship between management responsibility and corporate governance of listed companies in Kazakhstan. This research employs firm level data of randomly selected listed non-financial firms and firm level data “operational” financial sector, consisted from banking sector, insurance companies and accumulated pension funds using multivariate regression analysis under fixed effect model approach. Ownership structure includes institutional ownership, managerial ownership and private investor’s ownership. Management responsibility of the firm is expressed by the decision of the firm on amount of leverage. Results of the cross sectional panel study for non-financial firms showed that only institutional shareholding is significantly negatively correlated with debt to equity ratio. Findings from “operational” financial sector show that leverage is significantly affected only by the CEO/Chair duality and the size of financial institutions, and insignificantly affected by ownership structure. Also, the findings show, that there is a significant negative relationship between profitability and the debt to equity ratio for non-financial firms, which is consistent with pecking order theory. Generally, the found results suggest that corporate governance and a management responsibility play important role in corporate performance of listed firms in Kazakhstan.

Keywords: ownership, corporate governance, debt to equity ratio, corporate performance

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Authors: Jason Salim, Zhouyang Lu

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Private sector involvement in Public Private Partnership (PPP) projects may raise public suspicion, as PPP is often mistaken as merely a partnership between private and government agencies without consideration for greater “public” (community). This public marginalization is crucial to be dealt with because undermining opinion of majority may cause problems such as protests and/ or low demand. Game theory approach applied in this paper shows that probability of public acceptance towards a project is affected by overall public’s perception on Private sectors’ possible profit accumulation from the project. On the contrary, goodwill of the government and private coalition alone is not enough to minimize the probability of public opposition towards a PPP project. Additionally, the threat of loss or damage raised from public opposition does not affect the profit-maximization behavior of Private sectors.

Keywords: community satisfaction, game theory, non-cooperative, PPP, public policy

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Authors: M. Gomez, A. Molina

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The concept of brand equity in the wine tourism area is an interesting topic to explore the factors that determine it. The aim of this study is to address this gap by investigating wine tourism destinations brand equity, and understanding the impact that the denomination of origin (DO) brand image and the destination image have on brand equity. Managing and monitoring the branding of wine tourism destinations is crucial to attract tourist arrivals. The multiplicity of stakeholders involved in the branding process calls for research that, unlike previous studies, adopts a broader perspective and incorporates an internal and an external perspective. Therefore, this gap by comparing managers’ and visitors’ approaches to wine tourism destination brand equity has been addressed. A survey questionnaire for data collection purposes was used. The hypotheses were tested using winery managers and winery visitors, each leading a different position relative to the wine tourism destination brand equity. All the interviews were conducted face-to-face. The survey instrument included several scales related to DO brand image, destination image, and wine tourism destination brand equity. All items were measured on seven-point Likert scales. Partial least squares was used to analyze the accuracy of scales, the structural model, and multi-group analysis to identify the differences in the path coefficients and to test the hypotheses. The results show that the positive influence of DO brand image on wine tourism destination brand equity is stronger for wineries than for visitors, but there are no significant differences between the two groups. However, there are significant differences in the positive effect of destination brand image on both wine tourism destination brand equity and DO brand image. The results of this study are important for consultants, practitioners, and policy makers. The gap between managers and visitors calls for the development of a number of campaigns to enhance the image that visitors hold and, thus, increase tourist arrivals. Events such as wine gatherings and gastronomic symposiums held at universities and culinary schools and participation in business meetings can enhance the perceptions and in turn, the added value, brand equity of the wine tourism destinations. The images of destinations and DOs can help strengthen the brand equity of the wine tourism destinations, especially for visitors. Thus, the development and reinforcement of favorable, strong, and unique destination associations and DO associations are important to increase that value. Joint campaigns are advisable to enhance the images of destinations and DOs and, as a consequence, the value of the wine tourism destination brand.

Keywords: brand equity, managers, visitors, wine tourism

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Authors: Kevin Krupski

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Private Military Security Companies have grown to become a major force contributor to nations in military operations. Scholars have debated the implications of this in relation to control and efficiency related to the privatization of violence, but there has been little discussion on how these companies affect the profession of arms. Specifically, this paper seeks to address how the privatization of violence influences the military’s stewardship, whether private military security companies are capable of stewardship of the military profession, and whether there are aspects of stewardship of the military profession that private military security companies are capable of emulating. This paper reviews literature on stewardship, the relationship of the military to the state, and private military security companies in order to identify overlap between uniformed military services and the private sector. Then, it offers a typology for determining under what conditions an organization would act as a steward. Ultimately, there are insufficient reasons for private military security companies to act as stewards of the profession of arms.

Keywords: stewardship, military profession, civil-military, security

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Authors: Corey Clay

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A fraction of mechanical trainees (graduate students) from underrepresented groups (URM) has steadily increased through targeted recruitment and interventions to support their success during training. However, this trend has yet to translate to a connected increase in the number of faculty from these underrepresented groups. The purpose here is to look at proven strategies that departments and research institutions can develop to increase faculty hiring and promotion equity to address the lack of racial and gender diversity among their faculty. We will look at this process through an Adlerian lens, i.e., Adler theorized social interest as “a feeling of community, an orientation to living cooperatively with others, and a lifestyle that values the common good above one’s own interests and desires.” This abstract will look at implementing a cogent DEI strategy through an Adlerian perspective.

Keywords: diversity, equity, inclusion, adlerian

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Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim

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A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.

Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic

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Authors: Asmaa Sokrat, Aykut Karaman

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Public and private spaces are major components of the morphology of the city. This research aims to study the interactions between public and private domains in terms of urban space in Casablanca. The research focuses on a general vision of a socio-spatial issue. It plans to identify the public, private, and transition (semi-public, semi-private) spaces as the constituent of the urban space. Moreover, the study investigates the link between public and private spaces with the social dimensions. Additionally, the research argues that the public space is a place of social interaction; as a reflection, this interaction is the intersection between urban space and social connectedness. Besides, social interaction can be the key to distinguishing between the public and private spheres. The methodological approach of the research is based on the literature review and field study. The article is targeting a case study on the old Medina of Casablanca, from daily use of the public and private spaces, the urban tissue, and the urban space types. In conclusion, the research exhibits that a public space could influence the privacy of the residents of a local urban area; thus, this privacy is inverted on the social interaction. This social interaction is the link between the urban space and social connectedness. Hence, this equation affects the typology of the private space.

Keywords: public sphere, private sphere, social connectedness, old Medina of Casablanca

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Authors: Avdasheva Svetlanaa, Kryuchkova Polinab

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Comparative social efficiency of private and public enforcement of law is debated. This question is not of academic interest only, it is also important for the development of the legal system and regulations. Generally, involvement of ‘common citizens’ in public law enforcement is considered to be beneficial, while involvement of interest groups representatives is not. Institutional economics as well as law and economics consider the difference between public and private enforcement to be rather mechanical. Actions of bureaucrats in government agencies are assumed to be driven by the incentives linked to social welfare (or other indicator of public interest) and their own benefits. In contrast, actions of participants in private enforcement are driven by their private benefits. However administrative law enforcement may be designed in such a way that it would become driven mainly by individual incentives of alleged victims. We refer to this system as reactive public enforcement. Citizens may prefer using reactive public enforcement even if private enforcement is available. However replacement of public enforcement by reactive version of public enforcement negatively affects deterrence and reduces social welfare. We illustrate the problem of private vs pure public and private vs reactive public enforcement models with the examples of three legislation subsystems in Russia – labor law, consumer protection law and competition law. While development of private enforcement instead of public (especially in reactive public model) is desirable, replacement of both public and private enforcement by reactive model is definitely not.

Keywords: public enforcement, private complaints, legal errors, competition protection, labor law, competition law, russia

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Authors: Amir Lotfi, Seyed Hamid Hosseini

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During the recent past, due to the increase of electrical energy demand and governmental resources constraints in creating additional capacity in the generation, transmission, and distribution, privatization, and restructuring in electrical industry have been considered. So, in most of the countries, different parts of electrical industry like generation, transmission, and distribution have been separated in order to create competition. Considering these changes, environmental issues, energy growth, investment of private equity in energy generation units and difficulties of transmission lines expansion, distributed generation (DG) units have been used in power systems. Moreover, reduction in the need for transmission and distribution, the increase of reliability, improvement of power quality, and reduction of power loss have caused DG to be placed in power systems. On the other hand, considering low liquidity need, private investors tend to spend their money for DGs. In this project, the main goal is to offer an algorithm for planning and placing DGs in order to reduce the need for transmission and distribution network.

Keywords: planning, transmission, distributed generation, power security, power systems

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Authors: Somsak Klaysung

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This study aims to investigate the comparison of brands equity between Samsung and Apple from students of Suan Sunandha Rajabhat University. The research method will using quantitative research, data was collected by questionnaires distributed to communication of arts students in the faculty of management science of Suan Sunandha Rajabhat University for 100 samples by purposive sampling method. Data was analyzed by descriptive statistic including percentage, mean, standard deviation and inferential statistic is t-test for hypothesis testing. The results showed that brands equity between Apple and Samsung brand have the ability to recognize brand from the customer by perceived value of the uniqueness of brand and recall when in a situation that must be purchased (Salience), which is the lowest level in branding and consumers can recognize the capacity of the product (Judgment) and opinions about the quality and reliability when it comes to mobile phones Apple and Samsung brand are not different.

Keywords: Apple and Samsung brand, brand equity, judgment, performance, resonance, salience

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Authors: Chuang-Chang Chang, Keng-Yu Ho, Yu-Jen Hsiao, Hsin-Ni Yang

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Using a sample of detailed ownership data of 1,032 listed commercial bank observations in 30 European countries from 2004 to 2010, we explore what categories of shareholder are more likely to use derivatives and how different types of owners affect the bank value. We find that a shift in equity from bank investors to either non-financial companies or institutional investors have increase incentives to use derivatives. Moreover, we have significant evidence that a shift in equity from bank investors to either family or manager shareholders who attend derivative activities will decrease bank value. However, a shift in equity from bank investors to non-financial companies who use derivative instrument will increase the bank value. Our results are also robustness to address for the potential endogeneity problems.

Keywords: derivative usage, ownership structure, bank value

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Authors: Duran Fiack, Jeremy Cumberbatch, Michael Sutherland, Nadine Zerphey

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Civic leaders have increasingly relied upon local climate adaptation plans to identify vulnerabilities, prioritize goals, and implement actions in order to prepare cities for the present and projected effects of global climate change. The concept of sustainability is central to these efforts, as climate adaptation discussions are often framed within the context of economic resilience, environmental protection, and the distribution of climate change impacts across various socioeconomic groups. For urban centers, the climate change issue presents unique challenges for each of these dimensions; however, its potential impacts on marginalized populations are extensive. This study draws from the ‘just sustainabilities’ framework to perform a qualitative analysis of climate adaptation plans prepared by 22 of the 100 largest U.S. cities and examine whether, and to what extent, such initiatives prioritize social equity improvements. Past research has found that the integration of sustainability in urban policy and planning often produces outcomes that favor environmental and economic objectives over social equity improvements. We find that social equity is a particularly prominent theme in local-level climate adaptation efforts, relative to environmental quality and economic development. The findings contribute to the literature on climate adaptation and sustainability within the urban context and offer practical insight for local-level stakeholders concerning potential obstacles and opportunities for the integration of social equity initiatives into climate adaptation planning. Given the likelihood that climate changes will continue to impose unique challenges for marginalized communities in urban areas, advancing our understanding of how social equity concerns are integrated into adaptation efforts is likely to become an increasingly critical area of inquiry.

Keywords: climate adaptation plan, climate change, social equity, sustainability

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Authors: Koko Wangjam, Naresh Kumar Sharma

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The concern for most public health policies and decision- makers is the equitable distribution of health care resource of the nation. Also, in public health care system, the primary aim is assuaging the burden of the disease. Objective: This paper captures and evaluates some important theories in equity in health with its relevance with the ART program in India. Methodology: The paper is exploratory and descriptive study based on secondary data. The sources of secondary data are published official reports from NACO (National AIDS Control Organisation), United Nations AIDS Program (UNAIDS), World Health Organisation (WHO) etc. Observation: The roll-out of the ART program in 2004 by the Govt. of India made a paradigm shift in HIV/AIDS scenario in the country. Conclusion: There are many theoretical injunctions in most of the principles and approaches in existing theories of health equity. The enervation of HIV infection by taking ART drugs had helped in curbing the prevalence and the fact that it is provided at free of cost has proven this program to be an epitome in distributive justice in public health.

Keywords: art program, burden of the disease, health equity, hiv/aids

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Authors: Jim Shih-Chiao Chin , Tsai Lin Hsu, Shui Lien Chen

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This article extends the relation between company’s employee and customers in market. According to the previous researches, most researchers analyzed and focused on customers’ brand perception. In the recently, some scholars star to explore the brand management from company viewpoint. The aim of this study is to explore whether consumers perception would be affected by the firm brand. This research would like to examine the relationship between individual consumers and corporate brands in the business-to-consumers sector. First, the study develops a framework that the connection with consumer and company. Second, this article uses three dimensions, brand knowledge, brand commitment, and brand equity to measure employees’ loyalty of brand and applies brand relationship quality to gauge the level of brand’s importance in consumer’s mind. This paper uses SPSS 20.0 and AMOS 20.0 to test consumers’ minds toward the brand equity which the company provides. There are totally 862 valid questionnaires returned, and 431 participants are consumers; the other 431 participants are employees. Those questionnaires are one-by-one to consumer and employee so those are 431 pairs questionnaires. Based on 431 pairs of consumers and company’s employees, analyzed results show that brand knowledge and brand commitment play important roles influencing brand equity. The results also demonstrate the extra-role brand equity positively impact on the brand relationship quality of consumers. In addition, the findings reveal that the company can improve brand relationship quality of consumers by enhancing extra-role brand equity. There is a sufficient evidence denote that brand relationship quality not only shows about the brand of customers’ thought but also implies company how to build the brand to impress on consumers. These findings provide the degree of the brand in consumers’ cognition. The brand-owner employee can reference the conclusion to creative new strategic to the next time or can be one of the company’s competitive advantages. Those results and conclusions are contributed to management practice and future.

Keywords: brand knowledge, brand commitment, brand equity, brand relationship quality

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Authors: Monika Florczak-Wątor

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The main purpose of this paper is to determine the applicability of the constitutional social rights in the so-called horizontal relations, i.e. the relations between private entities. Nowadays the constitutional rights are more and more often violated by private entities and not only by the state. The private entities interfere with the privacy of individuals, limit their freedom of expression or disturb their peaceful gatherings. International corporations subordinate individuals in a way which may limit their constitutional rights. These new realities determine the new role of the constitution in protecting human rights. The paper will aim at answering two important questions. Firstly, are the private entities obliged to respect the constitutional social rights of other private entities and can they be liable for violation of these rights? Secondly, how the constitutional social rights can receive horizontal effect? Answers to these questions will have a significant meaning for the popularization of the practice of applying the Constitution among the citizens as well as for the courts which settle disputes between them.

Keywords: social rights, private relations, horizontality, constitutional rights

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Authors: Kateřina Struhařová

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The paper gives the evidence of quality of accounting information of Czech private companies. In general the private companies in the Czech Republic do not see the benefits of providing accounting information of high quality. Based on the research of financial statements of entrepreneurs and companies in Zlin region it was confirmed that the quality of accounting information differs among the private entities and that the major impact on the accounting information quality has the fact if the financial statements are audited as well as the size of the entity. Also the foreign shareholders and lenders have some impact on the accounting information quality.

Keywords: accounting information quality, financial statements, Czech Republic, private companies

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Authors: Milena Serzante, Viktoriia Stankevich, Yousre Badir

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Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons. The aim of the study is to analyze how the sustainable performance of the company impacts the economy and the business's economic performance. To achieve this goal, such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbor and COPRAS technique were implemented. The results revealed that there is no significant correlation between different indicators of sustainable development of the company and both GDP and Return on Equity. It indicates that the methodology of evaluating sustainability causes the difference in ranking companies based on sustainable performance.

Keywords: economic impact, sustainability evaluation, sustainable companies, economic indicators, sustainability, GDP, return on equity

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Authors: Wasaporn Techapeeraparnich

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Bringing private investor involving in providing public infrastructure have been increasingly used worldwide, and there is no exception for developing countries like Thailand. Recently, there is a huge investment opportunity for public-private partnership (PPP) in Thailand, especially in the transportation sector. This paper analyses the development of the PPP since the early beginning of PPP in different service sectors. It also summarizes the development of PPP and its application in terms of usage, opportunities and trends particularly in the transport sector. The results are aimed to draw some lessons learned for future development.

Keywords: case study, public-private partnership, transportation, Thailand

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Authors: Naziema Begum Jappie

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This paper explores the relationship between educational transformation and gender equity in higher education. It draws on various policies and experiences and investigates the paradox of increased female leadership in higher education and the persistence of gender discrimination in the sphere of work. The paper will also address specific aspects of culture and education in post-colonial South Africa. Traditional features of past education systems were not isolated, they became an essential component of the education system, post-democracy. This is currently contested through the call for decolonizing the education system. The debates and discussions seek to rectify the post-colonial education structure within which women suffered triple oppression. Using feminist critical policy analysis and post-colonial theory, the paper examines how transformation over the past two decades has impacted on gender equity and how educational reform is itself gendered. It considers the nature of gender restructuring and key developments in gender equity policy. The social inequality in education is highlighted throughout this discussion. Through an analysis of research and interviews, this paper argues that gender can no longer be privileged when identifying and responding to educational and workplace inequality. In conclusion, the paper discusses the important assumptions that support how social and educational change deliver equity and how social justice may inform equity policy and practice in a culturally diverse educational framework.

Keywords: culture, educational leadership, gender inequality in the workplace, policy implementation

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Authors: Murad A. Bein

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This paper empirically examines the time-varying relationship and spillover effects between the international crude oil price and ten emerging equity markets, namely three oil-exporting countries (Brazil, Mexico, and Russia) and seven Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, and Slovakia). The results revealed that there are spillover effects from oil markets into almost all emerging equity markets save Slovakia. Besides, the oil supply glut had a homogenous effect on the emerging markets, both net oil-exporting, and oil-importing countries (CEE). Further, the time variance drastically increased during financial turmoil. Indeed, the time variance remained high from 2009 to 2012 in response to aggregate demand shocks (global financial crisis and Eurozone debt crisis) and quantitative easing measures. Interestingly, the time variance was slightly higher for the oil-exporting countries than for some of the CEE countries. Decision-makers in emerging economies should therefore seek policy coordination when dealing with financial turmoil.

Keywords: crude oil, spillover effects, emerging equity, time-varying, aggregate demand shock

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Authors: Syed Rashid Hussain Shah, Sumera Syed, Nida Mushtaq

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Social media is not only acting as a medium of communication; rather it has provided a platform where customers can actually live with the brands they so dearly envy and interact with others with same interest. Organizations are making social media marketing efforts (SMME) to convert this opportunity into a meaningful experience. It may be resembled or considered as an act of branding where the notion is not only to understand the consumer behavior but also developing a strong link with them. Ultimately the quest is to influence and bend it into a mutual benefit of the stakeholders. This study investigates SMME of brands with the help of five dimensions (i.e., entertainment, interaction, trendiness, customization and word of mouth). The study has found that there is no significant impact of SMME as a construct on brand equity and consumer behavior. However, few of the dimensions (i.e. customization and word of mouth), have been found to have influence on brand equity (brand association, brand image) and consumer response (brand preferences).

Keywords: social media marketing efforts (SMME), brand equity, preference, loyalty price premium, luxury brands, international

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Authors: Hamed Saremi

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One of the challenges in manufacturing and service companies to provide a product or service is recognized Brand to consumers in target markets. They provide most of their processes under the same capacity. But the constant threat of devastating internal and external resources to prevent a rise Brands and more companies are recognizing the stages are bankrupt. This paper has tried to identify and analyze effective indicators of brand equity and focuses on indicators and presents a model of intelligent create a model to prevent possible damage. In this study identified indicators of brand equity based on literature study and according to expert opinions, set of indicators By techniques DEMATEL Then to used Multi-Step Adaptive Neural-Fuzzy Inference system (ANFIS) to design a multi-stage intelligent system for assessment of brand equity.

Keywords: anfis, dematel, brand, cosmetic product, brand value

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Authors: Md Rabiul Islam, Ben Wadham

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This paper describes how indigenous students face challenges with various school activities due to inadequate equity and diversity principles in mainstream primary schools in Bangladesh. This study focuses on indigenous students’ interactions with mainstream class teachers and students through teaching-learning activities at public primary schools. Ethnographic research methods guided data collection under a case study methodology in Chittagong Hill Tracts (CHTs) region where maximum indigenous peoples’ inhabitants. The participants (class teachers) shared information through in-depth interviews about their experiences in the four selecting schools. The authors also observed the effects of school activities by use of equity and diversity lens for indigenous students’ situations in those schools. The authors argue that the socio-economic situations of indigenous families are not supportive of the educational development of their children. Similarly, the Bangladesh government does not have enough initiative programs based on equity and diversity principles for fundamental education of indigenous children at rural schools level. Besides this, the conventional teaching system cannot improve the diversification among the students in classrooms. The principles of equity and diversity are not well embedded in professional development of teachers, and using teaching materials in classrooms. The findings suggest that implementing equitable education; there are needed to arrange teachers’ education with equitable knowledge and introducing diversified teaching materials, and implementing teaching through students centered activities that promote the diversification among the multicultural students.

Keywords: case study research, chittagong hill tracts, equity and diversity, Indigenous children

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Authors: Uche A. Ibekwe

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Pension funds are pooled assets which are established to provide income for retirees. The funds are usually regulated to check excessive risk taking by fund managers. In Nigeria, the current defined contribution (DC) pension scheme appears to contain some overly stringent restrictions which might be hampering its successful implementation. Notable among these restrictions is the 25 percent maximum limit on investment in ordinary shares of quoted companies. This paper examines the extent to which these restrictions affect pension replacement rates at retirement. The study made use of both simulated and historical asset return distributions using mean-variance, regression analysis and ruin-risk analyses, the study found that the current equity investment restriction policy in Nigeria reduces replacement rates at retirement.

Keywords: equity investment, replacement rates, restrictions, ruin-risk

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