Search results for: financial numbers game

Authors: Luis Rodrigo Valencia Pérez, Juan Manuel Peña Aguilar, Adelina Morita Alexander, Alberto Lamadrid Alvarez, Héctor Fernando Valencia Pérez

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Financial education is among the areas of opportunity in the Spanish-speaking from an early age to high school, through mobile devices such as cell phones and tablets using ludic and fun applications like interactive games, children can learn money management and investment through time, thereby fostering the habit of saving and/or sound management of cash and family business resources, having interaction with an uncontrolled environment such as the involvement of other players in the external decisions of the environment in which the game is play. The application proposed in Phase 1 (design and development) was designed in multi-user environments, under methodologies of hybrid programming for any platform on the market and designed under CMMI standards that allow for quality production over time, following up on these improvements counting with continuous user feedback and usage statistics.

Keywords: mobile educational games, ludic games, children, multiuser, design and software development

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Authors: Gohar Marikyan

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This article is about investigating how to effectively use visuals in teaching introductory mathematics. The analysis showed the use of visuals in teaching introductory mathematics can be an effective tool for enhancing students’ learning and engagement in mathematics. The use of visuals was particularly effective for teaching concepts of numbers, operations with whole numbers, and properties of operations. The analysis also provides strong evidence that the effectiveness of visuals varied depending on the way the visuals are used. Furthermore, the analysis revealed that the use of visuals in mathematics instruction had a positive impact on student’s attitudes toward mathematics, with students showing higher levels of motivation and enjoyment in mathematics classes.

Keywords: analytical thinking skills, instructional strategies with visuals, introductory mathematics, student engagement and motivation

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Authors: Jan Schmitt, Sophie Fischer

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After the Corona pandemic, climate change is a further, long-lasting challenge the society must deal with. An ongoing climate change need to be prevented. Nevertheless, the adoption tothe already changed climate conditionshas to be focused in many sectors. Recently, the decisive role of the economic sector with high value added can be seen in the Corona crisis. Hence, manufacturing industry as such a sector, needs to be prepared for climate change and adaption. Several examples from the manufacturing industry show the importance of a strategic effort in this field: The outsourcing of a major parts of the value chain to suppliers in other countries and optimizing procurement logistics in a time-, storage- and cost-efficient manner within a network of global value creation, can lead vulnerable impacts due to climate-related disruptions. E.g. the total damage costs after the 2011 flood disaster in Thailand, including costs for delivery failures, were estimated at 45 billion US dollars worldwide. German car manufacturers were also affected by supply bottlenecks andhave close its plant in Thailand for a short time. Another OEM must reduce the production output. In this contribution, a game-based learning approach is presented, which should enable manufacturing companies to derive their own strategies for climate adaption out of a mix of different actions. Based on data from a regional study of small, medium and large manufacturing companies in Mainfranken, a strongly industrialized region of northern Bavaria (Germany) the game-based learning approach is designed. Out of this, the actual state of efforts due to climate adaption is evaluated. First, the results are used to collect single actions for manufacturing companies and second, further actions can be identified. Then, a variety of climate adaption activities can be clustered according to the scope of activity of the company. The combination of different actions e.g. the renewal of the building envelope with regard to thermal insulation, its benefits and drawbacks leads to a specific strategy for climate adaption for each company. Within the game-based approach, the players take on different roles in a fictionalcompany and discuss the order and the characteristics of each action taken into their climate adaption strategy. Different indicators such as economic, ecologic and stakeholder satisfaction compare the success of the respective measures in a competitive format with other virtual companies deriving their own strategy. A "play through" climate change scenarios with targeted adaptation actions illustrate the impact of different actions and their combination onthefictional company.

Keywords: business strategy, climate change, climate adaption, game-based learning

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Authors: Petr Gurný

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One of the most important tasks in the risk management is the correct determination of probability of default (PD) of particular financial subjects. In this paper a possibility of determination of financial institution’s PD according to the credit-scoring models is discussed. The paper is divided into the two parts. The first part is devoted to the estimation of the three different models (based on the linear discriminant analysis, logit regression and probit regression) from the sample of almost three hundred US commercial banks. Afterwards these models are compared and verified on the control sample with the view to choose the best one. The second part of the paper is aimed at the application of the chosen model on the portfolio of three key Czech banks to estimate their present financial stability. However, it is not less important to be able to estimate the evolution of PD in the future. For this reason, the second task in this paper is to estimate the probability distribution of the future PD for the Czech banks. So, there are sampled randomly the values of particular indicators and estimated the PDs’ distribution, while it’s assumed that the indicators are distributed according to the multidimensional subordinated Lévy model (Variance Gamma model and Normal Inverse Gaussian model, particularly). Although the obtained results show that all banks are relatively healthy, there is still high chance that “a financial crisis” will occur, at least in terms of probability. This is indicated by estimation of the various quantiles in the estimated distributions. Finally, it should be noted that the applicability of the estimated model (with respect to the used data) is limited to the recessionary phase of the financial market.

Keywords: credit-scoring models, multidimensional subordinated Lévy model, probability of default

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Authors: Parisa Khoshvaght, Mehdi Hosseinzadeh

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During the past few years, the Residue Number System (RNS) has been receiving considerable interest due to its parallel and fault-tolerant properties. This system is a useful tool for Digital Signal Processing (DSP) since it can support parallel, carry-free, high-speed and low power arithmetic. One of the drawbacks of Residue Number System is the fractional numbers, that is, the corresponding circuit is very hard to realize in conventional CMOS technology. In this paper, we propose a method in which the numbers of transistors are significantly reduced. The related delay is extremely diminished, in the first glance we use this method to solve concerning problem of one decimal functional number some how this proposition can be extended to generalize the idea. Another advantage of this method is the independency on the kind of moduli.

Keywords: computer arithmetic, residue number system, number system, one-Hot, VLSI

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Authors: Beata Spilakova, Daniel J. Shaw, Radek Marecek, Milan Brazdil

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Hyperscanning affords a unique insight into the brain dynamics underlying human interaction by simultaneously scanning two or more individuals’ brain responses while they engage in dyadic exchange. This provides an opportunity to observe dynamic brain activations in all individuals participating in interaction, and possible interbrain effects among them. The present research aims to provide an experimental paradigm for hyperscanning research capable of delineating among different forms of interaction. Specifically, the goal was to distinguish between two dimensions: (1) interaction structure (concurrent vs. turn-based) and (2) goal structure (competition vs cooperation). Dual-fMRI was used to scan 22 pairs of participants - each pair matched on gender, age, education and handedness - as they played the Pattern Game. In this simple interactive task, one player attempts to recreate a pattern of tokens while the second player must either help (cooperation) or prevent the first achieving the pattern (competition). Each pair played the game iteratively, alternating their roles every round. The game was played in two consecutive sessions: first the players took sequential turns (turn-based), but in the second session they placed their tokens concurrently (concurrent). Conventional general linear model (GLM) analyses revealed activations throughout a diffuse collection of brain regions: The cooperative condition engaged medial prefrontal cortex (mPFC) and posterior cingulate cortex (PCC); in the competitive condition, significant activations were observed in frontal and prefrontal areas, insula cortices and the thalamus. Comparisons between the turn-based and concurrent conditions revealed greater precuneus engagement in the former. Interestingly, mPFC, PCC and insulae are linked repeatedly to social cognitive processes. Similarly, the thalamus is often associated with a cognitive empathy, thus its activation may reflect the need to predict the opponent’s upcoming moves. Frontal and prefrontal activation most likely represent the higher attentional and executive demands of the concurrent condition, whereby subjects must simultaneously observe their co-player and place his own tokens accordingly. The activation of precuneus in the turn-based condition may be linked to self-other distinction processes. Finally, by performing intra-pair correlations of brain responses we demonstrate condition-specific patterns of brain-to-brain coupling in mPFC and PCC. Moreover, the degree of synchronicity in these neural signals related to performance on the game. The present results, then, show that different types of interaction recruit different brain systems implicated in social cognition, and the degree of inter-player synchrony within these brain systems is related to nature of the social interaction.

Keywords: brain-to-brain coupling, hyperscanning, pattern game, social interaction

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Authors: A. Bolaji Adesoye, Alimi Olorunfemi

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This paper examines the impact of small and medium-scale enterprises (SMEs) credit financing and financial market development and their shocks on the output growth of Nigeria. The study estimated a VAR model for Nigeria using 1970-2013 annual data series. Unit root tests and cointegration are carried out. The study also explores IRFs and FEVDs in a system that includes output, commercial bank loan to SMEs, domestic credit to private sector by banks, money supply, lending rate and investment. Findings suggest that shocks in commercial bank credit to SMEs has a major impact on the output changes of Nigeria. Money supply shocks also have a sizeable impact on output growth variations amidst other financial instruments. Lastly, neutrality of investment does not hold in Nigeria as it also has impact on output fluctuations.

Keywords: SMEs financing, financial development, investment, output, Nigeria

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Authors: Jiawei Li

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How cooperation emerges and persists in a population of selfish agents is a fundamental question in evolutionary game theory. Our research shows that Collective Strategies with Master-Slave Mechanism (CSMSM) defeat Tit-for-Tat and other well-known strategies in spatial iterated prisoner’s dilemma. A CSMSM identifies kin members by means of a handshaking mechanism. If the opponent is identified as non-kin, a CSMSM will always defect. Once two CSMSMs meet, they play master and slave roles. A mater defects and a slave cooperates in order to maximize the master’s payoff. CSMSM outperforms non-collective strategies in spatial IPD even if there is only a small cluster of CSMSMs in the population. The existence and performance of CSMSM in spatial iterated prisoner’s dilemma suggests that cooperation first appears and persists in a group of collective agents.

Keywords: Evolutionary game theory, spatial prisoners dilemma, collective strategy, master-slave mechanism

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Authors: Nidal F. Shilbayeh, Remah W. Al-Khatib, Sameer A. Nooh

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Arabic offline handwriting recognition systems are considered as one of the most challenging topics. Arabic Handwritten Numeral Strings are used to automate systems that deal with numbers such as postal code, banking account numbers and numbers on car plates. Segmentation of connected numerals is the main bottleneck in the handwritten numeral recognition system.  This is in turn can increase the speed and efficiency of the recognition system. In this paper, we proposed algorithms for automatic segmentation and feature extraction of Arabic handwritten numeral strings based on Watershed approach. The algorithms have been designed and implemented to achieve the main goal of segmenting and extracting the string of numeral digits written by hand especially in a courtesy amount of bank checks. The segmentation algorithm partitions the string into multiple regions that can be associated with the properties of one or more criteria. The numeral extraction algorithm extracts the numeral string digits into separated individual digit. Both algorithms for segmentation and feature extraction have been tested successfully and efficiently for all types of numerals.

Keywords: handwritten numerals, segmentation, courtesy amount, feature extraction, numeral recognition

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Authors: P. Mendes, H. Stel, R. E. M. Morales

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This article presents a numerical and experimental study of turbulent flow in corrugated pipes with helically “d-type" grooves, for Reynolds numbers between 7500 and 100,000. The ANSYS-CFX software is used to solve the RANS equations with the BSL two equation turbulence model, through the element-based finite-volume method approach. Different groove widths and helix angles are considered. Numerical results are validated with experimental pressure drop measurements for the friction factor. A correlation for the friction factor is also proposed considering the geometric parameters and Reynolds numbers evaluated.

Keywords: turbulent flow, corrugated pipe, helical, numerical, experimental, friction factor, correlation

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Authors: Amir B. Khoshnevis, Morteza Mirhosseini

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The paper deals with a sub-part of an extensive research program on the wake survey method in various Reynolds numbers and angles of attack. This research experimentally investigates the wake flow characteristics behind S823 and S822 airfoils in which designed for small wind turbines. Velocity measurements determined by using hot-wire anemometer. Data acquired in the wake of the airfoil at locations(c is the chord length): 0.01c - 3c. Reynolds number increased due to increase of free stream velocity. Results showed that mean velocity profiles depend on the angle of attack and location of data collections. Data acquired at the low Reynolds numbers (smaller than 10^5). Effects of Reynolds numbers on the mean velocity profiles are more significant in near locations the trailing edge and these effects decrease by taking distance from trailing edge toward downstream. Mean velocity profiles region increased by increasing the angle of attack, except for 7°, and also the maximum velocity deficit (velocity defect) increased. The difference of mean velocity in and out of the wake decreased by taking distance from trailing edge, and mean velocity profile become wider and more uniform.

Keywords: angle of attack, Reynolds number, velocity deficit, separation

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Authors: Piotr Prewysz-Kwinto, Grazyna Voss

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Accounting policies are a set of solutions compliant with legal regulations that an entity selects and adopts, and which guarantee a proper quality of financial statements. Those solutions may differ depending on whether the entity adopts national or international accounting standards. The aim of this article is to present accounting principles (policies) in Polish and international legal regulations and their adoption in selected Polish companies listed on the Warsaw Stock Exchange. The research method adopted in this work is the analysis and evaluation of legal conditions in Polish companies.

Keywords: accounting policies, international financial reporting standards, financial statement, method of measuring

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Authors: G. C. Surya Bahadur, Ranjana Kothari

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The paper attempts to analyze linkages between corporate governance and firm performance in India. The study employs a panel data of 50 Nifty companies from 2008 to 2012. Using LSDV panel data model and 2SLS model the study reveals that that good corporate governance practices adopted by companies is positively related with financial performance. Board independence, number of board committees and executive compensation are found to have positive relationship while ownership by promoters and financial leverage have negative relationship with performance. There is existence of bi-directional relationship between corporate governance and financial performance. Companies with sound financial performance are more likely to conform to corporate governance norms and standards and implement sound corporate governance system. The findings indicate that companies can enhance business performance and sustainability by embracing sound corporate governance practices.

Keywords: board structure, corporate governance, executive compensation, ownership structure

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Authors: İlhami Karahanoglu, Oguz Ceylan

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As its well-known definitions; systemic risk refers to whole economic system down-turn movement even collapse together in very severe cases. In fact, it points out the contagion effects of the defaults. Such a risk is can be depicted with the famous Chinese game of falling domino stones. During and after the Bear & Sterns and Lehman Brothers cases, it was well understood that there is a very strong effect of systemic risk in financial services sector. In this study, we concentrate on the existence of systemic risk in Turkish Banking Sector based upon the Halkbank Case during the end month of 2013; there was a political turmoil in Turkey in which the close relatives of the upper politicians were involved in illegal trading activities. In that operation, the CEO of Halkbank was also arrested and in investigation, Halkbank was considered as part of such illegal actions. That operation had an impact on Halkbanks stock value. The Halkbank stock value during that time interval decreased remarkably, the distributional profile of stock return changed and became more volatile as well as more skewed. In this study, the daily returns of 5 leading banks in Turkish banking sector were used to obtain 48 return distributions (for each month, 90-days-back stock value returns are used) of 5 banks for the period 12/2011-12/2013 (pre operation period) and 12/2013-12/2015 (post operation period). When those distributions are compared with timely manner, interestingly; the distribution of the 5 other leading banks in Turkey, public or private, had also distribution profiles which was different from the past 2011-2013 period just like Halkbank. Those 5 big banks, whose stock values are monitored with sub index in Istanbul stock exchange (BIST) as BN10, had more skewed distribution just following the Halkbank stock return movement during the post operation period, with lover mean value and as well higher volatility. In addition, the correlation between the stock value return distributions of the leading banks after Halkbank case, where the returns are more skewed to the left, increased (which is measured in monthly base before and after the operation). The dependence between those banks was stronger under the case where the stock values were falling compared with the normal market condition. Such distributional effect of stock returns between the leading banks in Turkey, which is valid for down sub-market (financial/banking sector) condition, can be evaluated as an evidence for the existence of contagious effect and systemic risk.

Keywords: financial risk, systemic risk, banking sector, return distribution, dependency structure

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Authors: Iqra Ali

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This study uses panel Vector Auto Regression (VAR) to analyses the dynamic link between banking and insurance activities based on the asset size of the insurance industry for 73 countries between 1980 and 2014. Assets in the insurance industry and banking activities usually have a Granger causal link, according to panel Granger-causality tests. Impulse response analyses for the entire sample show that the size of insurance assets responds favorably to a shock to the liquid liabilities and deposits of the financial system but negatively to a shock to deposit money bank assets and private credit offered by commercial banks, other financial institutions, and deposit banks. While the findings for middle- and low-income nations varied significantly, the observations for high-income countries are essentially the same. Furthermore, we find that there is a substantial interplay between banking and insurance activity in civil law nations as opposed to common law ones.

Keywords: vector autoregression, banking, insurance, Granger-causality

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Authors: Pablo Reyes, Vanessa Riveros Fiallo, Cesar Acevedo, Camila Castellanos, Catalina Moncaleano, Maria F. Parra, Laura Colmenares

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Social emotions are physiological, cognitive and behavioral phenomenon that intervene in the mechanisms of adaptation of individuals and their context. These are mediated by interpersonal relationship and language. Such emotions are subdivided into moral and comparison. The present research emphasizes two comparative emotions: Envy and Schadenfreude. Envy arises when a person lack of quality, possessions or achievements and these are superior in someone else. The Schadenfreude (SC) expresses the pleasure that someone experienced by the misfortune of the other. The relationship between both emotions has been questioned before. Hence there are reports showing that envy increases and modulates SC response. Other documents suggest that envy causes SC response. However, the methodological approach of the topic has been made through self-reports, as well as the hypothetical scenarios. Given this problematic, the neuroscience social framework provides an alternative and demonstrates that social emotions have neurophysiological correlates that can be measured. This is relevant when studying social emotions that are reprehensible like envy or SC are. When tested, the individuals tend to report low ratings due to social desirability. In this study, it was drawn up a proposal in research's protocol and the progress on its own piloting. The aim is to evaluate the effect of feeling envy and Schadenfreude has on the decision-making process, as well as the cooperative behavior in an economic game. To such a degree, it was proposed an experimental model that will provoke to feel envious by performing games against an unknown opponent. The game consists of asking general knowledge questions. The difficulty level in questions and the strangers' facial response have been manipulated in order to generate an ecological comparison framework and be able to arise both envy and SC emotions. During the game, an electromyography registry will be made for two facial muscles that have been associated with the expressiveness of envy and SC emotions. One of the innovations of the current proposal is the measurement of the effect that emotions have on a specific behavior. To that extent, it was evaluated the effect of each condition on the dictators' economic game. The main intention is to evaluate if a social emotion can modulate actions that have been associated with social norms, in the literacy. The result of the evaluation of a pilot model (without electromyography record and self-report) have shown an association between envy and SC, in a way that as the individuals report a greater sense of envy, the greater the chance to experience SC. The results of the economic game show a slight tendency towards profit maximization decisions. It is expected that at the time of using real cash this behavior will be strengthened and also to correlate with the responses of electromyography.

Keywords: envy, schadenfreude, electromyography, economic games

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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: Ari Prasetyo, Taufik Faturohman

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The COVID-19 pandemic in Indonesia is part of the ongoing worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). It was confirmed to have spread to Indonesia on 2 March 2020. Moreover, the government of Indonesia has been conducting a local lockdown to limit people's movement from one city to another city. Therefore, this situation has impact on business operation, especially on highway companies listed on the Indonesia stock exchange. This study evaluates and measures three companies’ financial performance and health conditions before and during the COVID-19 pandemic from 2016 – 2020. The measurement is conducted by using financial ratio analysis and the Altman Z-score method. The ratio used to measure the financial ratio analysis is taken from the decree of the Ministry of SOE’s KEP-100/MBU/2002 about the company’s health level condition. From the decree, there are eight financial ratios used such as return on equity (ROE), return on investment (ROI), current ratio, cash ratio, collection period, inventory turnover, total asset turnover, and total equity to total asset. Altman Z-score is used to calculate the financial distress condition. The result shows that the highway companies for the period 2016 – 2020 are as follows: PT Jasa Marga (Persero) Tbk (AA, BB, BB, BB, C), PT Citra Marga Nusaphala Persada Tbk (BB, AA, BB, BBB, C), and PT Nusantara Infrastructure Tbk (BB, BB, AA, BBB, C). In addition, the Altman Z-score assessment performed in 2016-2020 shows that PT Jasa Marga (Persero) Tbk was in the grey zone area for 2015-2018 and in the distress zone for 2019-2020. PT Citra Marga Nusaphala Persada Tbk was in the grey zone area for 2015-2019 and in the distress zone for 2020. PT Nusantara Infrastructure Tbk was in the grey zone area for 2015-2018 and in the distress zone for 2019-2020.

Keywords: financial performance, financial ratio, Altman Z-score, financial distress, highway company

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Authors: H. Saadi-Idouhar, A. Smai, S. Zenia, F. Haddadj, A. Saadi, M. Aissi, S. Doumandji

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In Algeria, the Partridge gambra is a highly sought-after game species and is appreciated for its meat. Game birds are of interest because they play an important role for hunting federations and for the economy of a country. The breeding of indigenous breeds is necessary because it is of great economic interest. However, gambra breeding in the hunting centre of Zeralda (northern west of Algiers) is not easy, several diseases affecting Perdreaux and reproducing adults have been noted. Most of the diseases observed are parasitic in origin. This study is conducted during the 2010 breeding season. It is based on the autopsy of cadavers collected at the hunting centre and parasitic coprology. Indeed, the flotation enrichment method has identified several parasites such as Eimeria spp., Capillaria spp., and Ascaridia spp. Autopsied corpses show the importance of two major diseases, syngamosis caused to Syngamus trachea and histomonosis caused to Histomonas meleagridis.

Keywords: partridge, livestock, eggs, affections pathology

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Authors: Laurence C. Hanes, Robert J. Stone

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Video games have reached a point of huge commercial success as well as wide familiarity with audiences both young and old. Much attention and research have also been directed towards serious games and their potential learning affordances. It is little surprise that the field of virtual heritage has taken a keen interest in using serious games to present cultural heritage information to users, with applications ranging from museums and cultural heritage institutions, to academia and research, to schools and education. Many researchers have already documented their efforts to develop and distribute virtual heritage serious games. Although attempts have been made to create classifications of the different types of virtual heritage games (somewhat akin to the idea of game genres), no formal taxonomy has yet been produced to define the different types of cultural heritage and historical information that can be presented through these games at a content level, and how the information can be manifested within the game. This study proposes such a taxonomy. First the informational content is categorized as heritage or historical, then further divided into tangible, intangible, natural, and analytical. Next, the characteristics of the manifestation within the game are covered. The means of manifestation, level of demonstration, tone, and focus are all defined and explained. Finally, the potential learning outcomes of the content are discussed. A demonstration of the taxonomy is then given by describing the informational content and corresponding manifestations within several examples of virtual heritage serious games as well as commercial games. It is anticipated that this taxonomy will help designers of virtual heritage serious games to think about and clearly define the information they are presenting through their games, and how they are presenting it. Another result of the taxonomy is that it will enable us to frame cultural heritage and historical information presented in commercial games with a critical lens, especially where there may not be explicit learning objectives. Finally, the results will also enable us to identify shared informational content and learning objectives between any virtual heritage serious and/or commercial games.

Keywords: informational content, serious games, taxonomy, virtual heritage

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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: Javaid Ahmad Dar, Mohammad Asif

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The present study investigates the long-run impact of financial development, energy consumption and economic growth on greenhouse gas emissions for India, in presence of endogenous structural breaks, over a period of 1971-2013. Autoregressive distributed lag bounds testing procedure and Hatemi-J threshold cointegration technique have been used to test the variables for cointegration. ARDL bounds test did not confirm any cointegrating relationship between the variables. The threshold cointegration test establishes the presence of long-run impact of financial development, energy use and economic growth on greenhouse gas emissions in India. The results reveal that the long-run relationship between the variables has witnessed two regime shifts, in 1978 and 2002. The empirical evidence shows that financial sector development and energy consumption in India degrade environment. Unlike previous studies, this paper finds no statistical evidence of long-run relationship between economic growth and environmental deterioration. The study also challenges the existence of environmental Kuznets curve in India.

Keywords: cointegration, financial development, global warming, greenhouse gas emissions, regime shift, unit root

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Authors: Shehu Usman Hassan

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Published accounting information in financial statements are required to provide various users - shareholders, employees, suppliers, creditors, financial analysts, stockbrokers and government agencies – with timely and reliable information useful for making prudent, effective and efficient decisions. The widespread failure in the financial information quality has created the need to improve the financial information quality and to strengthen the control of managers by setting up good firms structures. This paper investigates firm attributes from perspective of structure, monitoring, performance elements of listed deposit money banks in Nigeria. The study adopted correlational research design with balanced panel data of 14 banks as sample of the study using multiple regression as a tool of analysis. The result reveals that firms attributes (leverage, profitability, liquidity, bank size and bank growth) has as significant influence on earnings quality of listed deposit money banks in Nigeria after the adoption of IFRS, while the pre period shows that the selected firm attributes has no significant impact on earnings quality. It is therefore concluded that the adoption of IFRS is right and timely.

Keywords: earnings quality, firm attributes, listed deposit money bank, Nigeria

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Authors: Liwen Wang, Yuting Chen, Tong Wu, Shaolei Hu

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In order to enhance the security of critical financial infrastructure, this study carries out a transformation of the architecture of a financial trading terminal to a zero trust architecture (ZTA), constructs an active defense system for cybersecurity, improves the security level of trading services in the Internet environment, enhances the ability to prevent network attacks and unknown risks, and reduces the industry and security risks brought about by cybersecurity risks. This study introduces the SDP technology of ZTA, adapts and applies it to a financial trading terminal to achieve security optimization and fine-grained business grading control. The upgraded architecture of the trading terminal moves security protection forward to the user access layer, replaces VPN to optimize remote access, and significantly improves the security protection capability of Internet transactions. The study achieves 1. deep integration with the access control architecture of the transaction system; 2. no impact on the performance of terminals and gateways, and no perception of application system upgrades; 3. customized checklist and policy configuration; 4. introduction of industry-leading security technology such as single-packet authorization (SPA) and secondary authentication. This study carries out a successful application of ZTA in the field of financial trading and provides transformation ideas for other similar systems while improving the security level of financial transaction services in the Internet environment.

Keywords: zero trust, trading terminal, architecture, network security, cybersecurity

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Authors: Nikki Berrange, Gizelle Willows

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Business rescue has become increasingly popular since its inclusion in the Companies Act of South Africa in May 2011. The Alternate Exchange (AltX) of the Johannesburg Stock Exchange has experienced a marked increase in the number of companies entering business rescue. This study sampled twenty companies listed on the AltX to determine whether Altman’s Z-score model for emerging markets (ZEM) or Taffler’s Z-score model is a more accurate model in predicting financial distress for small to medium size companies in South Africa. The study was performed over three different time horizons; one, two and three years prior to the event of financial distress, in order to determine how many companies each model predicted would be unlikely to succeed as well as the predictive ability and accuracy of the respective models. The study found that Taffler’s Z-score model had a greater ability at predicting financial distress from all three-time horizons.

Keywords: Altman’s ZEM-score, Altman’s Z-score, AltX, business rescue, Taffler’s Z-score

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Authors: Adebiyi Sunday Adeyanju, Kola Benson Ajeigbe, Fortune Ganda

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In the past three decades, there has been a notable increase in the number of firms delisting from the Johannesburg Stock Exchange (JSE) in South Africa. The recent increasing rate of delisting waves of corporate listed firms motivated this study. This study aims to explore the influence of institutional investor perceptions on the financial distress experienced by delisted firms within the South African market. The study further examined the impact of financial distress on the corporate performance of delisted firms. Using the data of delisted firms spanning from 2000 to 2023 and the FGLS (Feasible Generalized Least Squares) for the short run and PCSE (Panel-Corrected Standard Errors) for the long run effects of the relationship. The finding indicated that a decline in institutional investors’ perceptions was associated with the corporate financial distress of the delisted firms, particularly during the delisting year and the few years preceding the announcement of the delisting. This study addressed the importance of investor recognition in corporate financial distress and the delisting wave among listed firms- a finding supporting the stakeholder theory. This study is an insight for companies’ managements, investors, governments, policymakers, stockbrokers, lending institutions, bankers, the stock market, and other stakeholders in their various decision-making endeavours. Based on the above findings, it was recommended that corporate managements should improve their governance strategies that can help companies’ financial performances. Accountability and transparency through governance must also be improved upon with government support through the introduction of policies and strategies and enabling an easy environment that can help companies perform better.

Keywords: delisting wave, institutional investors, financial distress, corporate performance, investors’ perceptions

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Authors: Basiru Amuneni

Abstract:

Astronomy is one domain with a rise in data. Traditional tools for data management have been employed in the quest for knowledge discovery. However, these traditional tools become limited in the face of big. One means of maximizing knowledge discovery for big data is the use of scientific visualisation. The aim of the work is to explore the possibilities offered by emerging creative technologies of Virtual Reality (VR) systems and game engines to visualize multiwavelength datasets. Game Engines are primarily used for developing video games, however their advanced graphics could be exploited for scientific visualization which provides a means to graphically illustrate scientific data to ease human comprehension. Modern astronomy is now in the era of multiwavelength data where a single galaxy for example, is captured by the telescope several times and at different electromagnetic wavelength to have a more comprehensive picture of the physical characteristics of the galaxy. Visualising this in an immersive environment would be more intuitive and natural for an observer. This work presents a standalone VR application that accesses galaxy FITS files. The application was built using the Unity Game Engine for the graphics underpinning and the OpenXR API for the VR infrastructure. The work used a methodology known as Design Science Research (DSR) which entails the act of ‘using design as a research method or technique’. The key stages of the galaxy modelling pipeline are FITS data preparation, Galaxy Modelling, Unity 3D Visualisation and VR Display. The FITS data format cannot be read by the Unity Game Engine directly. A DLL (CSHARPFITS) which provides a native support for reading and writing FITS files was used. The Galaxy modeller uses an approach that integrates cleaned FITS image pixels into the graphics pipeline of the Unity3d game Engine. The cleaned FITS images are then input to the galaxy modeller pipeline phase, which has a pre-processing script that extracts, pixel, galaxy world position, and colour maps the FITS image pixels. The user can visualise image galaxies in different light bands, control the blend of the image with similar images from different sources or fuse images for a holistic view. The framework will allow users to build tools to realise complex workflows for public outreach and possibly scientific work with increased scalability, near real time interactivity with ease of access. The application is presented in an immersive environment and can use all commercially available headset built on the OpenXR API. The user can select galaxies in the scene, teleport to the galaxy, pan, zoom in/out, and change colour gradients of the galaxy. The findings and design lessons learnt in the implementation of different use cases will contribute to the development and design of game-based visualisation tools in immersive environment by enabling informed decisions to be made.

Keywords: astronomy, visualisation, multiwavelenght dataset, virtual reality

Procedia PDF Downloads 91

Authors: N. Farahin Ali, Naharriah Mohamed, Hafiz Majdi, Fathiyyah, Fadliana Saman

Abstract:

This paper investigates the imperative for developing Islamic accounting standards tailored to Baitulmal, waqaf, and zakat transactions, with the goal of strengthening accountability and transparency in financial reporting. Current financial reporting frameworks in Malaysia—namely, the Malaysian Financial Reporting Standards (MFRS) and Malaysian Private Entities Reporting Standards (MPERS)—are designed predominantly for conventional financial transactions and fail to fully capture the Shariah-specific nature of these religious funds. The objective of this study is to critically examine the discrepancies between these conventional reporting standards and the requirements of Shariah-compliant financial transactions, specifically for Baitulmal, waqaf, and zakat. This research adopts a qualitative methodology, utilizing case studies from four different State Islamic Religious Councils to explore the current reporting practices. The findings reveal significant gaps between the conventional frameworks and the specific needs of Shariah-compliant accounting, leading to off-balance-sheet reporting of certain transactions and inconsistencies in financial disclosures across different states. These disparities undermine both the comparability and integrity of the financial reports, raising critical concerns regarding transparency and governance. The broader implications of this study underscore the necessity for a unified Islamic accounting standard that would align more closely with Shariah principles. Such a standard would not only enhance the disclosure and presentation of baitulmal, waqaf, and zakat transactions, but also improve decision-making processes, thereby fostering greater accountability and trust in the management of these Islamic funds. This paper advocates for a concerted effort to bridge the existing gap, ensuring that the distinctive characteristics of Islamic charitable funds are appropriately reflected in the financial reporting process.

Keywords: islamic accounting, waqf, zakat, islamic finance

Procedia PDF Downloads 13

Authors: Shurui Bai, Biyun Huang, Khe Foon Hew

Abstract:

Gamification is defined as the use of game design elements in non-game contexts. The primary purpose of using gamification in an educational context is to engage students in school activities such that their likelihood of completion is increased. But how actually effective is gamification in improving student learning? In order to answer this question, this paper provides a systematic review of prior research studies on gamification in K-12 and university contexts limited to computer science discipline. Unlike other published gamification review works, we specifically analyzed comparison-based studies in quasi-experiment, historical control, and randomization rather than studies with mere anecdotal or phenomenological results. The main purpose for this is to discuss possible causal effects of gamified practices on student performance, behavior change, and perceptual skills following an integrative model. Implications for practice are discussed, along with several suggestions for future research studies.

Keywords: computer science, gamification, learning performance, systematic review

Procedia PDF Downloads 131

Authors: Kiumars Shahbazi, Salah Salimian, Abdolrahim Hashemi Dizaj

Abstract:

Locating is one of the key elements in success and survival of industrial centers and has great impact on cost reduction of establishment and launching of various economic activities. In this study, streets with unequal length model have been used that is the classic extension of Spoke model; however with unlimited number of streets with uneven lengths. The results showed that the spoke model is a special case of streets with unequal length model. According to the results of this study, if the strategy of enterprises and firms is to select both price and location, there would be no balance in the game. Furthermore, increased length of streets leads to increased profit of enterprises and with increased number of streets, the enterprises choose locations that are far from center (the maximum differentiation), and the enterprises' output will decrease. Moreover, the enterprise production rate will incline toward zero when the number of streets goes to infinity, and complete competition outcome will be achieved.

Keywords: locating, Nash equilibrium, streets with unequal length model, streets with unequal length model

Procedia PDF Downloads 203