Search results for: financial stress
6111 Antioxidant Capacity of Maize Corn under Drought Stress from the Different Zones of Growing
Authors: Astghik R. Sukiasyan
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The semidental sweet maize of Armenian population under drought stress and pollution by some heavy metals (HMs) in sites along the river Debet was studied. Accordingly, the objective of this work was to investigate the antioxidant status of maize plant in order to identify simple and reliable criteria for assessing the degree of adaptation of plants to abiotic stress of drought and HMs. It was found that in the case of removal from the mainstream of the river, the antioxidant status of the plant varies. As parameters, the antioxidant status of the plant has been determined by the activity of malondialdehyde (MDA) and Ferric Reducing Ability of Plasma (FRAP), taking into account the characteristics of natural drought of this region. The possibility of using some indicators which characterized the antioxidant status of the plant was concluded. The criteria for assessing the extent of environmental pollution could be HMs. This fact can be used for the early diagnosis of diseases in the population who lives in these areas and uses corn as the main food.Keywords: antioxidant status, maize corn, drought stress, heavy metal
Procedia PDF Downloads 2706110 Trajectories of Depression Anxiety and Stress among Breast Cancer Patients: Assessment at First Year of Diagnosis
Authors: Jyoti Srivastava, Sandhya S. Kaushik, Mallika Tewari, Hari S. Shukla
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Little information is available about the development of psychological well being over time among women who have been undergoing treatment for breast cancer. The aim of this study was to identify the trajectories of depression anxiety and stress among women with early-stage breast cancer. Of the 48 Indian women with newly diagnosed early-stage breast cancer recruited from surgical oncology unit, 39 completed an interview and were assessed for depression anxiety and stress (Depression Anxiety Stress Scale-DASS 21) before their first course of chemotherapy (baseline) and follow up interviews at 3, 6 and 9 months thereafter. Growth mixture modeling was used to identify distinct trajectories of Depression Anxiety and Stress symptoms. Logistic Regression analysis was used to evaluate the characteristics of women in distinct groups. Most women showed mild to moderate level of depression and anxiety (68%) while normal to mild level of stress (71%). But one in 11 women was chronically anxious (9%) and depressed (9%). Young age, having a partner, shorter education and receiving chemotherapy but not radiotherapy might characterize women whose psychological symptoms remain strong nine months after diagnosis. By looking beyond the mean, it was found that several socio-demographic and treatment factors characterized the women whose depression, anxiety and stress level remained severe even nine months after diagnosis. The results suggest that support provided to cancer patients should have a special focus on a relatively small group of patient most in need.Keywords: psychological well being, growth mixture modeling, logistic regression analysis, socio-demographic factors
Procedia PDF Downloads 1496109 The Quality of Accounting Information of Private Companies in the Czech Republic
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
Procedia PDF Downloads 3046108 Analysis of Financial Performance Measurement and Financial Distress Assessment of Highway Companies Listed on Indonesia Stock Exchange before and during COVID-19 Pandemic
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
Procedia PDF Downloads 1916107 Effect of Relaxation Techniques in Reducing Stress Level among Mothers of Children with Autism Spectrum Disorder
Authors: R. N. Jay A. Ablog, M. N. Dyanne R. Del Carmen, Roma Rose A. Dela Cruz, Joselle Dara M. Estrada, Luke Clifferson M. Gagarin, Florence T. Lang-ay, Ma. Dayanara O. Mariñas, Maria Christina S. Nepa, Jahraine Chyle B. Ocampo, Mark Reynie Renz V. Silva, Jenny Lyn L. Soriano, Loreal Cloe M. Suva, Jackelyn R. Torres
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Background: To date, there is dearth of literature as to the effect of relaxation techniques in lowering the stress level of mothers of children with autism spectrum disorder (ASD). Aim: To investigate the effectiveness of 4-week relaxation techniques in stress level reduction of mothers of children with ASD. Methods: Quasi experimental design. It included 25 mothers (10-experimental, 15-control) who were chosen via purposive sampling. The mothers were recruited in the different SPED centers in Baguio City and La Trinidad and in the community. Statistics used were T-test and Related T-Test. Results: The overall weighted mean score after 4-week training is 2.3, indicating that the relaxation techniques introduced were moderately effective in lowering stress level. Statistical analysis (T-test; CV=4.51>TV=2.26) shown a significant difference in the stress level reduction of mothers in the experimental group pre and post interventions. There is also a significant difference in the stress level reduction in the control and the experimental group (Related T-test; CV=2.08 >TV=2.07). The relaxation techniques introduced were favorable, cost-effective, and easy to perform interventions to decrease stress level.Keywords: relaxation techniques, mindful eating, progressive muscle relaxation, breathing exercise, autism spectrum disorder
Procedia PDF Downloads 4336106 Biaxial Fatigue Specimen Design and Testing Rig Development
Authors: Ahmed H. Elkholy
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An elastic analysis is developed to obtain the distribution of stresses, strains, bending moment and deformation for a thin hollow, variable thickness cylindrical specimen when subjected to different biaxial loadings. The specimen was subjected to a combination of internal pressure, axial tensile loading and external pressure. Several axial to circumferential stress ratios were investigated in detail. The analytical model was then validated using experimental results obtained from a test rig using several biaxial loadings. Based on the preliminary results obtained, the specimen was then modified geometrically to ensure uniform strain distribution through its wall thickness and along its gauge length. The new design of the specimen has a higher buckling strength and a maximum value of equivalent stress according to the maximum distortion energy theory. A cyclic function generator of the standard servo-controlled, electro-hydraulic testing machine is used to generate a specific signal shape (sine, square,…) at a certain frequency. The two independent controllers of the electronic circuit cause an independent movement to each servo-valve piston. The movement of each piston pressurizes the upper and lower sides of the actuators alternately. So, the specimen will be subjected to axial and diametral loads independent of each other. The hydraulic system has two different pressures: one pressure will be responsible for axial stress produced in the specimen and the other will be responsible for the tangential stress. Changing the two pressure ratios will change the stress ratios accordingly. The only restriction on the maximum stress obtained is the capacity of the testing system and specimen instability due to buckling.Keywords: biaxial, fatigue, stress, testing
Procedia PDF Downloads 1306105 Influence of Stress Relaxation and Hysteresis Effect for Pressure Garment Design
Authors: Chia-Wen Yeh, Ting-Sheng Lin, Chih-Han Chang
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Pressure garment has been used to prevent and treat the hypertrophic scars following serious burns since 1970s. The use of pressure garment is believed to hasten the maturation process and decrease the highness of scars. Pressure garment is custom made by reducing circumferential measurement of the patient by 10%~20%, called Reduction Factor. However the exact reducing value used depends on the subjective judgment of the therapist and the feeling of patients throughout the try and error process. The Laplace Law can be applied to calculate the pressure from the dimension of the pressure garment by the circumferential measurements of the patients and the tension profile of the fabrics. The tension profile currently obtained neglects the stress relaxation and hysteresis effect within most elastic fabrics. The purpose of this study was to investigate the influence of the tension attenuation, from stress relaxation and hysteresis effect of the fabrics. Samples of pressure garment were obtained from Sunshine Foundation Organization, a nonprofit organization for burn patients in Taiwan. The wall tension profile of pressure garments were measured on a material testing system. Specimens were extended to 10% of the original length, held for 1 hour for the influence of the stress relaxation effect to take place. Then, specimens were extended to 15% of the original length for 10 seconds, then reduced to 10% to simulate donning movement for the influence of the hysteresis effect to take place. The load history was recorded. The stress relaxation effect is obvious from the load curves. The wall tension is decreased by 8.5%~10% after 60mins of holding. The hysteresis effect is obvious from the load curves. The wall tension is increased slightly, then decreased by 1.5%~2.5% and lower than stress relaxation results after 60mins of holding. The wall tension attenuation of the fabric exists due to stress relaxation and hysteresis effect. The influence of hysteresis is more than stress relaxation. These effect should be considered in order to design and evaluate the pressure of pressure garment more accurately.Keywords: hypertrophic scars, hysteresis, pressure garment, stress relaxation
Procedia PDF Downloads 5126104 Fatigue Crack Initiation of Al-Alloys: Effect of Heat Treatment Condition
Authors: M. Benachour, N. Benachour, M. Benguediab
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In this investigation an empirical study was made on fatigue crack initiation on 7075 T6 and 7075 T71 al-alloys under constant amplitude loading. At initiation stage, local strain approach at the notch was applied. Single Edge Notch Tensile specimen with semi circular notch is used. Based on experimental results, effect of mean stress, is highlights on fatigue initiation life. Results show that fatigue life initiation is affected by notch geometry and mean stress.Keywords: fatigue crack initiation, al-alloy, mean stress, heat treatment state
Procedia PDF Downloads 2336103 Effect of Positive Psychology (PP) Interventions on College Students’ Well-Being, Career Stress and Coronavirus Anxiety
Authors: Erva Kaygun
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The purpose of this research is to investigate the effects of positive psychology interventions on college students' positive-negative emotions, coronavirus anxiety, and career stress. 4 groups of college students are compared in terms of the level of exposure to PP constructs ( Non-Psychology, Psychology, Positive Psychology Course, and Positive Psychology Boot Camp). In this research, Pearson Correlation, independent t-tests, ANOVA, and Post-Hoc tests are conducted. Without being significant, the groups exposed to PP constructs showed higher positive emotions and total PERMA scores, whereas negative emotions, career stress, and coronavirus stress remained similar. It is crucial to indicate that career stress is higher among all psychology students when compared to non-psychology students. The results showed that the highest exposure group (PP Boot Camp) showed no difference in negative emotions, whereas higher PERMA scores and positive emotion scores were on the Positive and Negative Affect Schedule (PANAS) scale.Keywords: positive psychology, college students, well being, anxiety
Procedia PDF Downloads 1946102 Mindfulness Meditation in Higher Education
Authors: Steve Haberlin
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United States college students are experiencing record-high stress and anxiety rates, and due to technological advances, there are more distractions in the classroom. With these challenges comes the need to explore additional, non-traditional pedagogical strategies that can help students de-stress, become centered, and feel more deeply connected to content. In addition, embedding contemplative practices, such as mindfulness meditation, in the higher education classroom could assist faculty in presenting a more holistic education that encourages students to develop self-awareness, emotional intelligence, compassion, interconnectedness, and other “non-academic” qualities. Brief meditation may help students de-stress, focus, and connect. A facilitation guide could also help faculty implement classroom meditation practices; however, additional research is needed to determine how to best train faculty, what meditation techniques work best with students, and how to handle resistance. In this paper, a two-phase study is presented that involves a mindfulness meditation intervention with 180 undergraduate students at a private college in the southeastern United States. Data were collected through qualitative surveys and journaling and analyzed for themes. Findings included a majority of students reporting improved calm, reduced stress, and increased focus and ability to transition to classroom instruction.Keywords: college students, higher education, mindfulness meditation, stress
Procedia PDF Downloads 646101 Diagnostic Properties of Exercise or Pharmacological Stress Myocardial Perfusion Scintigraphy in Per-Vessel Basis: A Clinical Validation Study
Authors: Ahmadreza Bagheri, Seyyed S. Eftekhari, Shervin Rashidinia
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Background: Various stress tests have been proposed yet to assess patients with suspected coronary artery disease. However, their diagnostic properties in terms of sensitivity, specificity, and accuracy are variable and their applicability remained somewhat vague. The aim of this study is to validate per-vessel diagnostic properties of 3 types of stress myocardial perfusion scintigraphy in gated SPECT (Single-Photon Emission Computed Tomography) using either exercise or pharmacological stress testing with dipyridamole or dobutamine. Materials and Methods: Hospital records of 314 patients who referred to Imam Khomeini hospital of Tehran between September 2015 and January 2017 were completely reviewed in this study. All patients underwent coronary angiography within 3 months after stress myocardial perfusion scan. Eventually, the results were analyzed in per-vessel basis to find the proper modality for each involved vessel or scanned site. Results: The mean age of patients was 62.15 ± 4.94 years (30-85) and 35.03% were women. The overall sensitivity, specificity, and accuracy were calculated as 56.59%, 54.24%, and 55.09%, respectively. These values were 56.43% and 53.25%, 54.46% and 47.36%, 56.75% and 54.83% for dipyridamole and exercise, respectively. Ischemia of the anterior wall through exercise stress testing has the highest diagnostic accuracy in detecting LAD (Left Anterior Descending artery) involvement. Inferior wall hypokinesia and anterolateral wall ischemia during exercise stress testing have the highest diagnostic accuracy in detecting RCA (Right Coronary Artery) and LCX artery (Left Circumflex Artery) stenosis, respectively. Conclusion: Stress myocardial perfusion scan should be carried out on the basis of the findings of the preliminary investigations on suspicion of a specific coronary artery or involved myocardial wall.Keywords: dipyridamole, dobutamine, single-photon emission computed tomography, stress myocardial perfusion scintigraphy
Procedia PDF Downloads 1566100 The Effect of H2S on Crystal Structure
Authors: C. Venkataraman B. E., J. Nagarajan B. E., V. Srinivasan M. Tech
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For a better understanding on sulfide stress corrosion cracking, a theoretical approach based on crystal structure, molecule behavior, flow of electrons and electrochemical reaction is developed. Its impact on different materials such as carbon steel, low alloy, alloy for sour (H2S) environments is studied. This paper describes the theories on various disaster and failures occurred in the industry by Stress Corrosion Cracking (SCC). Parameters such as pH of process fluid, partial pressure of CO2, O2, Chlorine, effect of internal pressure (crystal structure deformation by stress), and external environment condition are considered. An analytical line graph is then created for process fluid parameter verses time, temperature, induced/residual stress due to local pressure build-up. By comparison with the load test result of NACE and ASTM, it is possible to predict and simplify the control of SCC by use of materials like ferritic, Austenitic material in the oil and gas & petroleum industries.Keywords: crystal structure deformation, failure assessment, alloy-environment combination, H2S
Procedia PDF Downloads 4016099 Analysis of Stress Concentration of a Hybrid Composite Material with Centre Circular Hole Subjected to Tensile Loading
Authors: C. Shalini Devi
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This work describes the stress concentration in a rectangular specimen with a circular hole made up of hybrid composite material with the combination of glass/carbon with epoxy. The arrangements of cross ply lamina in the sequence of alternative carbon and glass, using carbon fiber in panel, gives more strength to the structure as the carbon properties are higher when compared to glass. Typical aircraft and automobile components are with cut-outs, and such cut-outs reduce the weight of the aircraft according to the weight reduction law and also they reduce the bulking load carrying capacity. Experimental investigations were carried out using three specimens as per ASTM D5766 and three specimens as per ASTM D3039 in the Universal Testing Machine. Stress concentration in the rectangular specimen with a hole is also analysed using FEA and comparing the results.Keywords: composite, stress concentration, finite element analysis, tensile strength
Procedia PDF Downloads 4506098 Ownership, Management Responsibility and Corporate Performance of the Listed Firms in Kazakhstan
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
Procedia PDF Downloads 3446097 Micromechanical Investigation on the Influence of Thermal Stress on Elastic Properties of Fiber-Reinforced Composites
Authors: Arber Sejdiji, Jan Schmitz-Huebsch, Christian Mittelstedt
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Due to its use in a broad range of temperatures, the prediction of elastic properties of fiber composite materials under thermal load is significant. Especially the transversal stiffness dominates the potential of use for fiber-reinforced composites (FRC). A numerical study on the influence of thermal stress on transversal stiffness of fiber-reinforced composites is presented. In the numerical study, a representative volume element (RVE) is used to estimate the elastic properties of a unidirectional ply with finite element method (FEM). For the investigation, periodic boundary conditions are applied to the RVE. Firstly, the elastic properties under pure mechanical load are derived numerically and compared to results, which are obtained by analytical methods. Thereupon thermo-mechanical load is implemented into the model to investigate the influence of temperature change with low temperature as a key aspect. Regarding low temperatures, the transversal stiffness increases intensely, especially when thermal stress is dominant over mechanical stress. This paper outlines the employed numerical methods as well as the derived results.Keywords: elastic properties, micromechanics, thermal stress, representative volume element
Procedia PDF Downloads 1106096 The Long-Run Impact of Financial Development on Greenhouse Gas Emissions in India: An Application of Regime Shift Based Cointegration Approach
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
Procedia PDF Downloads 3816095 Adoption of International Financial Reporting Standards and Earnings Quality in Listed Deposit Money Banks in Nigeria
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
Procedia PDF Downloads 5146094 A Practice of Zero Trust Architecture in Financial Transactions
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
Procedia PDF Downloads 1706093 The Effect of Heat Stress on the Gastro-Intestinal Microbiota of Pigs
Authors: Yadnyavalkya Patil, Ravi Gooneratne, Xiang-Hong Ju
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Heat stress (HS) negatively affects the physiology of pigs. In this study, 6 pigs will be subjected to temperatures of 35 ± 2℃ for 12 hrs/day for a duration of 21 days. The changes in the gastrointestinal tract (GIT) microbiota will be observed by analyzing the freshly collected faeces on days 1, 3, 7, 14 and 21. The changes will be compared to faeces from a set of 6 control pigs kept simultaneously at temperatures of 26 ± 2℃ for the same duration of 21 days. Different types of stresses such a weaning have a detrimental effect on GIT microflora. Similarly, HS is expected to have a harmful effect on the microbial diversity of the GIT. How these changes affect the immune system of the pigs will be studied and therapeutics to reduce the negative effects of HS will be developed.Keywords: GIT microbiota, heat stress, immune system, therapeutics
Procedia PDF Downloads 2146092 Predicting Financial Distress in South Africa
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
Procedia PDF Downloads 3746091 Delisting Wave: Corporate Financial Distress, Institutional Investors Perception and Performance of South African Listed Firms
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
Procedia PDF Downloads 486090 Online Versus Offline Learning: A Comparative Analysis of Modes of Education Amidst Pandemic
Authors: Nida B. Syed
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Following second wave of the current pandemic COVID-19, education transmission is occurring via both the modes of education, that is, online as well as offline in the college. The aim of the current study was, therefore, to bring forth the comparative analysis of both the modes of education and their impact on the levels of academic stress and states of the mental wellbeing of the students amidst the current pandemic. Measures of the constructs were obtained by the online Google forms, which consist of the Perceptions of Academic Stress Scale (PASS) by and Warwick-Edinburg Mental Well-being Scale, from a sample of 100 undergraduate students aged 19-25 years studying in different colleges of Bengaluru, India. Modes of education were treated as the predictor variables whilst academic stress, and mental wellbeing constituted the criterion variables. Two-way ANOVA was employed. Results show that the levels of academic stress are found to be a bit higher in students attending online classes as compared to those taking offline classes in college (MD = 1.10, df = 98, t = 0.590, p > 0.05), whereas mental wellbeing is found to be low in students attending offline classes in colleges than those taking online classes (MD = 5.180, df = 98, t =2.340, p > 0.05 level). The combined interactional effect of modes of education and academic stress on the states of the mental wellbeing of the students is found to be low (R2 = 0.053), whilst the combined impact of modes of education and mental wellbeing on the levels of academic stress was found to be quite low (R2 = 0.014). It was concluded that modes of education have an impact on levels of academic stress and states of the mental well-being of the students amidst the current pandemic, but it is low.Keywords: modes of education, online learning, offline learning, pandemic
Procedia PDF Downloads 1086089 Improvement in Drought Stress Tolerance in Wheat by Arbuscular Mycorrhizal Fungi
Authors: Seema Sangwan, Ekta Narwal, Kannepalli Annapurna
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The aim of this study was to determine the effect of arbuscular mycorrhizal fungi (AMF) inoculation on drought stress tolerance in 3 genotypes of wheat subjected to moderate water stress, i.e. HD 3043 (drought tolerant), HD 2987 (drought tolerant), and HD 2967 (drought sensitive). Various growth parameters were studied, e.g. total dry weight, total shoot and root length, root volume, root surface area, grain weight and number, leaf area, chlorophyll content in leaves, relative water content, number of spores and percent colonisation of roots by arbuscular mycorrhizal fungi. Total dry weight, root surface area and chlorophyll content were found to be significantly high in AMF inoculated plants as compared to the non-mycorrhizal ones and also higher in drought-tolerant varieties of wheat as compared to the sensitive variety HD 2967, in moderate water stress treatments. Leakage of electrolytes was lower in case of AMF inoculated stressed plants. Under continuous water stress, leaf water content and leaf area were significantly increased in AMF inoculated plants as compared to un-inoculated stressed plants. Overall, the increased colonisation of roots of wheat by AMF in inoculated plants weather drought tolerant or sensitive could have a beneficial effect in alleviating the harmful effects of water stress in wheat and delaying its senescence.Keywords: Arbuscular mycorrhizal fungi, wheat, drought, stress
Procedia PDF Downloads 1986088 Towards the Development of Islamic Accounting Standards for Baitulmal, Waqaf, and Zakat Transactions: Addressing Gaps for Enhanced Accountability
Authors: N. Farahin Ali, Naharriah Mohamed, Hafiz Majdi, Fathiyyah, Fadliana Saman
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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 176087 Estimation of Stress-Strength Parameter for Burr Type XII Distribution Based on Progressive Type-II Censoring
Authors: A. M. Abd-Elfattah, M. H. Abu-Moussa
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In this paper, the estimation of stress-strength parameter R = P(Y < X) is considered when X; Y the strength and stress respectively are two independent random variables of Burr Type XII distribution. The samples taken for X and Y are progressively censoring of type II. The maximum likelihood estimator (MLE) of R is obtained when the common parameter is unknown. But when the common parameter is known the MLE, uniformly minimum variance unbiased estimator (UMVUE) and the Bayes estimator of R = P(Y < X) are obtained. The exact condence interval of R based on MLE is obtained. The performance of the proposed estimators is compared using the computer simulation.Keywords: Burr Type XII distribution, progressive type-II censoring, stress-strength model, unbiased estimator, maximum-likelihood estimator, uniformly minimum variance unbiased estimator, confidence intervals, Bayes estimator
Procedia PDF Downloads 4576086 Effect of 8-OH-DPAT on the Behavioral Indicators of Stress and on the Number of Astrocytes after Exposure to Chronic Stress
Authors: Ivette Gonzalez-Rivera, Diana B. Paz-Trejo, Oscar Galicia-Castillo, David N. Velazquez-Martinez, Hugo Sanchez-Castillo
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Prolonged exposure to stress can cause disorders related with dysfunction in the prefrontal cortex such as generalized anxiety and depression. These disorders involve alterations in neurotransmitter systems; the serotonergic system—a target of the drugs that are commonly used as a treatment to these disorders—is one of them. Recent studies suggest that 5-HT1A receptors play a pivotal role in the serotonergic system regulation and in stress responses. In the same way, there is increasing evidence that astrocytes are involved in the pathophysiology of stress. The aim of this study was to examine the effects of 8-OH-DPAT, a selective agonist of 5-HT1A receptors, in the behavioral signs of anxiety and anhedonia as well as in the number of astrocytes in the medial prefrontal cortex (mPFC) after exposure to chronic stress. They used 50 male Wistar rats of 250-350 grams housed in standard laboratory conditions and treated in accordance with the ethical standards of use and care of laboratory animals. A protocol of chronic unpredictable stress was used for 10 consecutive days during which the presentation of stressors such as motion restriction, water deprivation, wet bed, among others, were used. 40 rats were subjected to the stress protocol and then were divided into 4 groups of 10 rats each, which were administered 8-OH-DPAT (Tocris, USA) intraperitoneally with saline as vehicle in doses 0.0, 0.3, 1.0 and 2.0 mg/kg respectively. Another 10 rats were not subjected to the stress protocol or the drug. Subsequently, all the rats were measured in an open field test, a forced swimming test, sucrose consume, and a cero maze test. At the end of this procedure, the animals were sacrificed, the brain was removed and the tissue of the mPFC (Bregma: 4.20, 3.70, 2.70, 2.20) was processed in immunofluorescence staining for astrocytes (Anti-GFAP antibody - astrocyte maker, ABCAM). Statistically significant differences were found in the behavioral tests of all groups, showing that the stress group with saline administration had more indicators of anxiety and anhedonia than the control group and the groups with administration of 8-OH-DPAT. Also, a dose dependent effect of 8-OH-DPAT was found on the number of astrocytes in the mPFC. The results show that 8-OH-DPAT can modulate the effect of stress in both behavioral and anatomical level. Also they indicate that 5-HT1A receptors and astrocytes play an important role in the stress response and may modulate the therapeutic effect of serotonergic drugs, so they should be explored as a fundamental part in the treatment of symptoms of stress and in the understanding of the mechanisms of stress responses.Keywords: anxiety, prefrontal cortex, serotonergic system, stress
Procedia PDF Downloads 3266085 Connecting Critical Macro-Finance to Theories of Capitalism
Authors: Vithul Kalki
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The mainstream political economy failed to explain the nature and causes of systemic failures and thus to compare and comprehend how contemporary capitalist systems work. An alternative research framework of Critical Macro-Finance (CMF) is an attempt to collaborate political theory with post-Keynesian economics with an objective to find answers to unresolved questions that emerged since the international financial crisis and repeated failures of capital systems. This unorthodox approach brings out four main propositions, namely : (a) that the adoption of American financial practices has anchored financial globalization in market-based finance; (b) that global finance is a set of interconnected, hierarchical balance sheets, increasingly subject to time-critical liquidity; (c) that credit creation in market-based finance involves new forms of money; and (d) that market-based finance structurally requires a de-risking state capable both of protecting systemic liabilities and creating new investment opportunities. The ongoing discussion of CMF literature is yet to be tested or even fully framed. This qualitative paper will critically examine the CMF framework and will engage in discussions aiming to connect the CMF with theories of capitalism in a wider context to bring a holistic approach for analyzing contemporary financial capitalism.Keywords: critical macro-finance, capitalism, financial system, comparative political economy
Procedia PDF Downloads 1926084 An Integrated DANP-PROMETHEE II Approach for Air Traffic Controllers’ Workload Stress Problem
Authors: Jennifer Loar, Jason Montefalcon, Kissy Mae Alimpangog, Miriam Bongo
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The demanding, professional roles that air traffic controllers (ATC) play in air transport operation provided the main motivation of this paper. As the controllers’ workload stress becomes more complex due to various stressors, the challenge to overcome these in the pursuit of improving the efficiency of controllers and safety level of aircrafts has been relevant. Therefore, in order to determine the main stressors and surface the best alternative, two widely-known multi-criteria decision-making (MCDM) methods, DANP and PROMETHEE II, are applied. The proposed method is demonstrated in a case study at Mactan Civil Aviation Authority of the Philippines (CAAP). The results showed that the main stressors are high air traffic volume, extraneous traffic, unforeseen events, limitations and reliability of equipment, noise/distracter, micro climate, bad posture, relations with supervisors and colleagues, private life conditions/relationships, and emotional conditions. In the outranking of alternatives, compartmentalization is believed to be the most preferred alternative to overcome controllers’ workload stress. This implies that compartmentalization can best be applied to reduce controller workload stress.Keywords: air traffic controller, DANP, MCDM, PROMETHEE II, workload stress
Procedia PDF Downloads 2726083 The Relationship among Exercise Participation, Job Stress and Job Satisfaction: A Study on Food Service Employees in Taiwan
Authors: Jui-Hsiu Chang
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As an increasing number of restaurants are growing, the demand for man force in the food service industry is dramatically increasing as well. However, food service workers often complete the heavy workload, infrequent breaks, long hours and shifts. With the overwhelming workload, many workers have experienced high injury rates. As a result, the restaurant industry reports a higher employee turnover rate compare to other service industries in Taiwan. Restaurant managers are seeing ways to retain good employees in order to provide good quality service for daily operation. The purpose of this study was to explore the relationship among exercise participation, job stress and job satisfaction on the food service employees. In addition, to examine how the job stress affected their job satisfaction. A survey using a self-reported questionnaire was conducted to collect data, and 269 questionnaires were collected for data analysis. The obtained materials were analyzed using descriptive statistic, independent t-test, one-way ANOVA, linear regression analysis. The results show that 1. Job stress had a significantly negative influence on employees’ job satisfaction. 2. Exercise participation had significantly positive influence on employees’ job satisfaction. 3. Job stress and job satisfaction varied among the groups of respondent with different level of exercise involvement. Furthermore, the practical implications were proposed for the food service company management when developing daily operational strategies.Keywords: exercise participation, food service employees, job satisfaction, job stress
Procedia PDF Downloads 2686082 Characterization of Erodibility Using Soil Strength and Stress-Strain Indices for Soils in Some Selected Sites in Enugu State
Authors: C. C. Egwuonwu, N. A. A. Okereke, K. O. Chilakpu, S. O. Ohanyere
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In this study, initial soil strength indices (qu) and stress-strain characteristics, namely failure strain (ϵf), area under the stress-strain curve up to failure (Is) and stress-strain modulus between no load and failure (Es) were investigated as potential indicators for characterizing the erosion resistance of two compacted soils, namely sandy clay loam (SCL) and clay loam (CL) in some selected sites in Enugu State, Nigeria. The unconfined compressive strength (used in obtaining strength indices) and stress-strain measurements were obtained as a function of moisture content in percentage (mc %) and dry density (γd). Test were conducted over a range of 8% to 30% moisture content and 1.0 g/cm3 to 2.0 g/cm3 dry density at applied loads of 20, 40, 80, 160 and 320 kPa. Based on the results, it was found out that initial soil strength alone was not a good indicator of erosion resistance. For instance, in the comparison of exponents of mc% and γd for jet index or erosion resistance index (Ji) and the strength measurements, qu and Es agree in signs for mc%, but are opposite in signs for γd. Therefore, there is an inconsistency in exponents making it difficult to develop a relationship between the strength parameters and Ji for this data set. In contrast, the exponents of mc% and γd for Ji and ϵf and Is are opposite in signs, there is potential for an inverse relationship. The measured stress-strain characteristics, however, appeared to have potential in providing useful information on erosion resistance. The models developed for the prediction of the extent or the susceptibility of soils to erosion and subjected to sensitivity test on some selected sites achieved over 90% efficiency in their functions.Keywords: characterization of erodibility, selected sites in Enugu state, soil strength, stress-strain indices
Procedia PDF Downloads 415