Search results for: capital requirements

Authors: Faouzi Ameur, Atef Belhaj Ali

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Located in the South-west of Saudi Arabia, Jeddah is more than a harbor. It is a big city of the Red Sea and the second town of Saudi Arabia, after Riyadh the capital. Jeddah profits from several economic assets due especially to its transit position towards the high sacred places of Islam like Mecca and Medina. During summer, this metropolis is transformed into a political capital and a tourist resort for foreigners and Saudis alike. The city of Jeddah was affected by serious sudden floods; two great ones took place in 2009, and in 2011. The human and material tools were considerable, since these events caused the death to hundreds of people, damaged thousands of buildings built on basins slopes, which, however had the authorizations necessary. To cope with these natural disasters, several urban hydraulic measures were undertaken like building dams and canals to collect surface waters. These urban measures aimed at the protection of inhabitants and belongings against the risks of floods as well as the interception and the drainage of streams. Although these protection measures are important, expensive, and effective, they are no longer enough or effective to cope with the evolution of the natural disasters that the city of Jeddah is constantly exposed to. These protective hydraulic measures did not make it possible to reach risk zero situations. They transferred the damages towards other zones. This paper purports to study the protection network systems in Jeddah and to understand their various impacts during floods on the city and on its inhabitants.

Keywords: Jeddah, Saudi Arabia, urbanization, hydraulic protection

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Authors: Marianne Simons, Sinan Kurt, Marjolein Stefens, Kai Karos, Johan Lataster

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As cultural diversity within older populations in European countries increases, the role of cultural background should be taken account of in aging studies. Bonding social capital (BSC), containing someone’s socio-emotional resources, is recognised as an important ingredient for wellbeing in old age and found to be associated with someone’s cultural background. The current study examined the association between BSC, loneliness and wellbeing in a sample including older Turkish migrants with a collectivistic cultural background and native Dutch older adults, both living in the Netherlands, characterised by an individualistic culture. A sample of 119 Turkish migrants (64.7% male; age 65-87, M(SD)=71.13(5.04) and 124 native Dutch adults (32.3% male, age 65-94, M(SD)= 71.9(5.32) filled out either an online or printed questionnaire measuring BSC, psychological, social and emotional well-being, loneliness and relevant demographic covariates. Regression analysis - including confounders age, gender, level of education, physical health and relationship - showed positive associations between BSC and respectively emotional, social and psychological well-being and a negative association with loneliness in both samples. Moderation analyses showed that these associations were significantly stronger for the Turkish older migrants than for their native peers. Measurement invariance analysis indicated partial metric invariance for the measurement of BSC and loneliness and non-invariance for wellbeing, calling for caution comparing means between samples. The results stress the importance of BSC for wellbeing of older migrants from collectivistic cultures living in individualistic countries. Previous research, shows a trend of older migrants displaying lower levels of BSC as well as associated variables, such as education, physical health, and financial income. This calls for more research of the interplay between demographic and psychosocial factors restraining mental wellbeing of older migrant populations. Measurement invariance analyses further emphasize the importance of taking cultural background into account in positive aging studies.

Keywords: positive aging, cultural background, wellbeing, social capital, loneliness

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Authors: Zainal Abu Zatim, Hafizah Omar Zaki

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Substantial research had been done on refining employee’s customer service performance. Thus, there were very limited empirical studies that are engage in an inter-organizational climate study in assessing employee’s customer service performance. With the current economic situation as well as emerging needs and requirements, all businesses either from public or private sector serving customers put greater attention on fulfilling those needs and requirements. In this state of affairs, the act of polishing its employees’ skills, knowledge, teamwork and passion is very important in ensuring better performance deliverance. A study conducted in one of the telecommunication service provider company in Malaysia had been done to test its inter-organizational climate study. The Internal Climate Study was done to benchmark opinions and perceptions of its employees. The study had provided baseline information about perceptions that exist in the internal environment and ways forward to improve customer service performance. The approach used is through the use of focus group and qualitative interview.

Keywords: employees, Customer Service Performance, inter-organizational climate study, public and private sector

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Authors: Rodrigo Zepeda

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Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.

Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments

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Authors: Ayanda Ndokwana, Stanley Fore

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Industrial prosperity and rapid expansion of human population in South Africa over the past two decades, have increased the use of conventional fossil fuels such as crude oil, coal and natural gas to meet the country’s energy demands. However, the inevitable depletion of fossil fuel reserves, global volatile oil price and large carbon footprint are some of the crucial reasons the South African Government needs to make a considerable investment in the development of the biofuel industry. In South Africa, this industry is still at the introductory stage with no large scale manufacturing plant that has been commissioned yet. Bioethanol is a potential replacement of gasoline which is a fossil fuel that is used in motor vehicles. Using bioethanol for the transport sector as a source of fuel will help Government to save heavy foreign exchange incurred during importation of oil and create many job opportunities in rural farming. In 2007, the South African Government developed the National Biofuels Industrial Strategy in an effort to make provision for support and attract investment in bioethanol production. However, capital investment in the production of bioethanol on a large scale, depends on the sound economic assessment of the available manufacturing technologies. The aim of this study is to evaluate the profitability of an advanced bioethanol manufacturing technology which uses maize as a feedstock in South Africa. The impact of fiber or bran fractionation in this technology causes it to possess a number of merits such as energy efficiency, low capital expenditure, and profitability compared to a conventional dry-mill bioethanol technology. Quantitative techniques will be used to collect and analyze numerical data from suitable organisations in South Africa. The dependence of three profitability indicators such as the Discounted Payback Period (DPP), Net Present Value (NPV) and Return On Investment (ROI) on plant capacity will be evaluated. Profitability analysis will be done on the following plant capacities: 100 000 ton/year, 150 000 ton/year and 200 000 ton/year. The plant capacity with the shortest Discounted Payback Period, positive Net Present Value and highest Return On Investment implies that a further consideration in terms of capital investment is warranted.

Keywords: bioethanol, economic evaluation, maize, profitability indicators

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Authors: Divine Agozie, Muesser Nat, Eric Afful-Dadzie

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This examination attempts an analysis of the effect of business intelligence and analytics (BI&A) capabilities on organizational role stressors and the implications of such an effect on performance. Two hundred twenty-eight responses gathered from seventy-six firms across Ghana were analyzed using the Partial Least Squares Structural Equation Modelling (PLS-SEM) approach to validate the hypothesized relationships identified in the research model. Findings suggest both endogenous and exogenous dependencies of the sensing capability on the multiple role requirements of personnel. Further, transforming capability increases role conflict, whereas driving capability of BI&A systems impacts role conflict and role ambiguity. This study poses many practical insights to firms seeking to acquire analytics capabilities to drive performance and data-driven decision-making. It is important for firms to consider balancing role changes and task requirements before implementing and post-implementation stages of BI&A innovations.

Keywords: business intelligence and analytics, dynamic capabilities view, organizational stressors, structural equation modelling

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Authors: Chih-Chun Wu

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Learning information and communication technologies (ICT) helps people survive in current society. For the internet generation also referred as digital natives, learning new technology is like breathing; however, for the elder generations also called digital immigrants, including parents and grandparents, learning new technology could be challenged and frustrated. While majority research focused on the effects of elders’ ICT learning, less attention was paid to the help that the elders got from their other family members while learning ICT. This study utilized the anonymous questionnaire to survey 3,749 undergraduates and demonstrated that families are great places for intergenerational technology learning to be carried out. Results from this study confirmed that in the family, the younger generation both helped set up technology products and educated the elder ones needed technology knowledge and skills. The family elder members in this study applied to those who lived under the same roof with relative relations. Results from this study revealed that 2,331 (62.2%) and 2,656 (70.8%) undergraduates revealed that they helped their family elder members set up and taught them how to use LINE respectively. In addition, 1,481 (49.1%) undergraduates helped their family elder members set up, and 2,222 (59.3%) taught them. When it came to Apps, 2,527 (67.4%) helped their family elder members download them, and 2,876 (76.7%) taught how to use them. As for search engine, 2,317 (61.8%) undergraduates taught their family elders. Furthermore, 3,118 (83.2%), 2,639 (70.4%) and 2,004 (53.7%) undergraduates illustrated that they taught their family elder members smartphones, computers and tablets respectively. Meanwhile, only 904 (24.2%) undergraduates taught their family elders how to make a doctor appointment online. This study suggests to making good use of intergenerational technology learning in the family, since it increases family elders’ technology capital, and thus strengthens our country’s human capital and competitiveness.

Keywords: intergenerational technology learning, adult technology learning, family technology learning, ICT learning

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Authors: B. Marasović, S. Pivac, S. V. Vukasović

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Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the presence of transaction costs on the Croatian capital market is analyzed. The model applied in the paper is an extension of the standard portfolio mean-variance optimization model in which transaction costs are incurred to rebalance an investment portfolio. This model allows different costs for different securities, and different costs for buying and selling. In order to find efficient portfolio, using this model, first, the solution of quadratic programming problem of similar size to the Markowitz model, and then the solution of a linear programming problem have to be found. Furthermore, in the paper the impact of transaction costs on the efficient frontier is investigated. Moreover, it is shown that global minimum variance portfolio on the efficient frontier always has the same level of the risk regardless of the amount of transaction costs. Although efficient frontier position depends of both transaction costs amount and initial portfolio it can be concluded that extreme right portfolio on the efficient frontier always contains only one stock with the highest expected return and the highest risk.

Keywords: Croatian capital market, Markowitz model, fractional quadratic programming, portfolio optimization, transaction costs

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Authors: Mohammad Rahim Rahimi, Yuji Hoshino

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Building Information Management (BIM) at recent years has widespread consideration on the Architecture, Engineering and Construction (AEC). BIM has been bringing innovation in AEC industry and has the ability to improve the construction industry with high quality, reduction time and budget of project. Meanwhile, BIM support model and process in AEC industry, the process include the project time cycle, estimating, delivery and generally the way of management of project but not limited to those. This research carried the BIM advantages, adaptation and challenges of implementation in Kabul region. Capital Region Independence Development Authority (CRIDA) have responsibilities to implement the development projects in Kabul region. The method of study were considers on advantages and reasons of BIM performance in Afghanistan based on online survey and data. Besides that, five projects were studied, the reason of consideration were many times design revises and changes. Although, most of the projects had problems regard to designing and implementation stage, hence in canal project was discussed in detail with the main reason of problems. Which were many time changes and revises due to the lack of information, planning, and management. In addition, two projects based on BIM utilization in Japan were also discussed. The Shinsuizenji Station and Oita River dam projects. Those are implemented and implementing consequently according to the BIM requirements. The investigation focused on BIM usage, project implementation process. Eventually, the projects were the comparison with CRIDA and BIM utilization in Japan. The comparison will focus on the using of the model and the way of solving the problems based upon on the BIM. In conclusion, that BIM had the capacity to prevent many times design changes and revises. On behalf of achieving those objectives are required to focus on data management and sharing, BIM training and using new technology.

Keywords: construction information management, implementation and adaptation of BIM, project management, developing countries

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Authors: Viktorija Mano

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The objective of my research is to critique the International Monetary Fund (IMF) stance on foreign investment and the benefits for small, open economies of allowing the free movement of capital. In my research as a whole I will explore the extent to which this stance impacted upon and influenced the economic policies of Macedonia. This will involve providing a contextualized, critical account of the policy of the IMF focusing on a comparison of its policies during the early 2000s through policy documents, political discourse and enacted policies in Macedonia. The conditionality associated with these policies, such as the enforcement of austerity measures (including cutting public spending and reducing debt) and the privatization of public institutions has provoked strong reactions in countries which receive such loans. My main focus in my research is on exploring how the process of Financial Liberalization (FL) of the Macedonian economy affected capital flows in the form of foreign direct investments (FDI) in the private sector and how the recent Greek crisis of 2008 has impacted on this. In the case of Macedonia, the reality of FL was tested by the collapse of the Greek economy. However, this paper will highlight the main duties of the IMF and the goals of the FL process implemented in various countries.Additionally, I will undertake a rhetorical documentary analysis on the IMF reports regarding the process of FL in Macedonia since its independence until today.

Keywords: FDI, financial liberalization, Greece, IMF, Macedonia

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Authors: Dwi Wijiastutik, Tarjo, Yuni Rimawati

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The purpose of this empirical study is to analyse how to the market reaction and the conservative degree changes on the adoption of International Financial Reporting Standart (IFRS) through Jakarta Islamic Index. The study also has given others additional analysis on the profitability, capital structure and size company toward IFRS adoption. The data collection methods used in this study reveals as secondary data and deep analysis to the company’s annual report and daily price stock at yahoo finance. We analyse 40 companies listed on Jakarta Islamic Index from 2010 to 2014. The result of the study concluded that IFRS has given a different on the depth analysis to the two of variance analysis: Moderated Regression Analysis and Wilcoxon Signed Rank to test developed hypotheses. Our result on the regression analysis shows that market response and conservatism principle is not significantly after IFRS Adoption in Jakarta Islamic Index. Furthermore, in addition, analysis on profitability, capital structure, and company size show that significantly after IFRS adoption. The findings of our study help investor by showing the impact of IFRS for making decided investment.

Keywords: IFRS, earnings response coefficient, conservatism principle

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Authors: Satinder Bhatia

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Limited Liability Partnerships (LLPs) was a concept introduced in India in 2009. Ever since then, there has been a fierce growth in the number of organizations registered as LLPs outpacing the number of registrations as private companies. Among other benefits extended to LLPs, the audit being mandated only for LLPs having a turnover of at least Rs 40 lakhs or capital contribution of Rs 25 lakhs, has been a major attraction. This has resulted in only about 10 per cent of LLPs coming under mandatory audit. Even for such companies, the accounting standards to be followed in the preparation of financial statements have not been specified. The Revised Indian Accounting Standards (Revised IndAS) which are aligned with IFRS to a great extent, may apply to LLPs only under limited conditions. Thus, the veracity of even the audited financial statements of LLPs can be questioned. If in future, these LLPs would like to list on a stock exchange to raise capital, there can be serious hurdles if investors do not find the financial statements to be reliable and consistent. LLPs are generally governed by country-specific rules in the area of accounts and audit. Thus, such rules vary across UK, EU and the USA. Some countries have adopted the IFRS for SMEs and since LLPs can be referred to as SMEs; they would come under the ambit of these IFRS provisions. Besides, as the scope of audit widens to cover qualitative information in addition to quantitative data, audit of LLPs has now acquired a new meaning and a new urgency as demands for at least limited purpose audits are arising from different stakeholders including lenders, suppliers, customers and joint venture partners.

Keywords: audit disclosures, audit quality, guidance for SMEs, non-audit services

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Authors: Guenther Schuh, Michael Riesener, Frederic Diels

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Nowadays, manufacturing companies are faced with the challenge of meeting heterogeneous customer requirements in short product life cycles with a variety of product functions. So far, some of the functional requirements remain unknown until late stages of the product development. A way to handle these uncertainties is the highly iterative product development (HIP) approach. By structuring the development project as a highly iterative process, this method provides customer oriented and marketable products. There are first approaches for combined, hybrid models comprising deterministic-normative methods like the Stage-Gate process and empirical-adaptive development methods like SCRUM on a project management level. However, almost unconsidered is the question, which development scopes can preferably be realized with either empirical-adaptive or deterministic-normative approaches. In this context, a development scope constitutes a self-contained section of the overall development objective. Therefore, this paper focuses on a methodology that deals with the uncertainty of requirements within the early development stages and the corresponding selection of the most appropriate development approach. For this purpose, internal influencing factors like a company’s technology ability, the prototype manufacturability and the potential solution space as well as external factors like the market accuracy, relevance and volatility will be analyzed and combined into an Agile-Indicator. The Agile-Indicator is derived in three steps. First of all, it is necessary to rate each internal and external factor in terms of the importance for the overall development task. Secondly, each requirement has to be evaluated for every single internal and external factor appropriate to their suitability for empirical-adaptive development. Finally, the total sums of internal and external side are composed in the Agile-Indicator. Thus, the Agile-Indicator constitutes a company-specific and application-related criterion, on which the allocation of empirical-adaptive and deterministic-normative development scopes can be made. In a last step, this indicator will be used for a specific clustering of development scopes by application of the fuzzy c-means (FCM) clustering algorithm. The FCM-method determines sub-clusters within functional clusters based on the empirical-adaptive environmental impact of the Agile-Indicator. By means of the methodology presented in this paper, it is possible to classify requirements, which are uncertainly carried out by the market, into empirical-adaptive or deterministic-normative development scopes.

Keywords: agile, highly iterative development, agile-indicator, product development

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Authors: Michael Lognoul

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In April 2021, the European Commission released its AI Act Proposal, which is the first policy proposal at the European Union level to target AI systems comprehensively, in a horizontal manner. This Proposal notably aims to achieve an ecosystem of trust in the European Union, based on the respect of fundamental rights, regarding AI. Among many other requirements, the AI Act Proposal aims to impose several generic transparency obligationson all AI systems to the benefit of natural persons facing those systems (e.g. information on the AI nature of systems, in case of an interaction with a human). The Proposal also provides for more stringent transparency obligations, specific to AI systems that qualify as high-risk, to the benefit of their users, notably on the characteristics, capabilities, and limitations of the AI systems they use. Against that background, this research firstly presents all such transparency requirements in turn, as well as related obligations, such asthe proposed obligations on record keeping. Secondly, it focuses on a legal analysis of their scope of application, of the content of the obligations, and on their practical implications. On the scope of transparency obligations tailored for high-risk AI systems, the research notably notes that it seems relatively narrow, given the proposed legal definition of the notion of users of AI systems. Hence, where end-users do not qualify as users, they may only receive very limited information. This element might potentially raise concern regarding the objective of the Proposal. On the content of the transparency obligations, the research highlights that the information that should benefit users of high-risk AI systems is both very broad and specific, from a technical perspective. Therefore, the information required under those obligations seems to create, prima facie, an adequate framework to ensure trust for users of high-risk AI systems. However, on the practical implications of these transparency obligations, the research notes that concern arises due to potential illiteracy of high-risk AI systems users. They might not benefit from sufficient technical expertise to fully understand the information provided to them, despite the wording of the Proposal, which requires that information should be comprehensible to its recipients (i.e. users).On this matter, the research points that there could be, more broadly, an important divergence between the level of detail of the information required by the Proposal and the level of expertise of users of high-risk AI systems. As a conclusion, the research provides policy recommendations to tackle (part of) the issues highlighted. It notably recommends to broaden the scope of transparency requirements for high-risk AI systems to encompass end-users. It also suggests that principles of explanation, as they were put forward in the Guidelines for Trustworthy AI of the High Level Expert Group, should be included in the Proposal in addition to transparency obligations.

Keywords: aI act proposal, explainability of aI, high-risk aI systems, transparency requirements

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Authors: Gabriela Estrada, Joaquim Lloveras

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Design for error-proofing assembly is a new DFX approach to prevent assembly issues since early design stages. Assembly issues that can happen during the life phases of a system such as: production, installation, operation, and replacement phases. This prevention is possible by designing the product with poka-yoke or error-proofing characteristics. This approach guide designers to make decisions based on poka-yoke assembly design requirements. As a result of applying these requirements designers are able to create solutions to prevent assembly issues for the product in development stage. This paper integrates the needs to design products in an error proofing way into the systematic approach of design process by Pahl and Beitz. A case study is presented applying this approach.

Keywords: poka-yoke, error-proofing, assembly issues, design process, life phases of a system

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Authors: Gabriela Estrada, Joaquim Lloveras

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Design for error-proofing assembly is a new DFX approach to prevent assembly issues since early design stages. Assembly issues that can happen during the life phases of a system such as: production, installation, operation and replacement phases. This prevention is possible by designing the product with poka-yoke or error-proofing characteristics. This approach guide designers to make decisions based on poka-yoke assembly design requirements. As a result of applying these requirements designers are able to create solutions to prevent assembly issues for the product in development stage. This paper integrates the needs to design products in an error proofing way into the systematic approach of design process by Pahl and Beitz. A case study is presented applying this approach.

Keywords: poka-yoke, error-proofing, assembly issues, design process, life phases of a system

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Authors: Chayakarn Bamrungbutr, James Sillitoe

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The term ‘shadow port’ is used to describe a port whose markets are dominated by an adjacent port that has a more competitive capability. Recently, researchers have put effort into studying the mechanisms of how a regional port, in the shadow of a nearby predominant port which is a capital city port, can compete and grow. However, such mechanism is still unclear. This study thus focuses on understanding the growth of shadow port and the type of shadow port by using the two capital city ports of Thailand; Bangkok port (the former main port) and Laem Chabang port (the current main port), as the case study. By developing an understanding of the mechanisms of shadow, port could ultimately lead to an increase in the competitiveness. In this study, a framework of opportunity capture (introduced by Magala, 2004) will be used to create a framework for the study of the growth of the selected shadow port. In the process of building this framework, five groups of port development experts, consisting of government, council, academia, logistics provider and industry, will be interviewed. To facilitate this work, the Noticing, Collecting and Thinking model which was developed by Seidel (1998) will be used in an analysis of the dataset. The resulting analysis will be used to classify the type of shadow port. The type of these ports will be a significant factor for developing a feasible strategic guideline for the future management planning of ports, particularly, shadow ports, and then to increase the competitiveness of a nation’s maritime transport industry, and eventually lead to a boost in the national economy.

Keywords: shadow port, Bangkok Port, Laem Chabang Port, port growth

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Authors: Farzad Razavi, Behrooz Taheri, Mohammad Parpaei, Mehdi Mohammadi Ghalesefidi, Siamak Zarei

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As one of the major problems in protecting large-dimension power systems, power swing and its effect on distance have caused a lot of damages to energy transfer systems in many parts of the world. Therefore, power swing has gained attentions of many researchers, which has led to invention of different methods for power swing detection. Power swing detection algorithm is highly important in distance relay, but protection relays should have general requirements such as correct fault detection, response rate, and minimization of disturbances in a power system. To ensure meeting the requirements, protection relays need different tests during development, setup, maintenance, configuration, and troubleshooting steps. This paper covers power swing scheme of the modern numerical relay protection, 7sa522 to address the effect of the different fault types on the function of the power swing blocking. In this study, it was shown that the different fault types during power swing cause different time for unblocking distance relay.

Keywords: power swing, distance relay, power system protection, relay test, transient in power system

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Authors: Federica Marangio

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This study looks at the triangle of knowledge: research-education-innovation as growth engine of an inclusive and sustainable society, where the research is the strategic process which allows the acquisition of knowledge, innovation appraises the knowledge acquired and the education is the enabling factor of the human capital to create entrepreneurial capital. Where does Italy and China stand in the global geography of innovation? Europe is calling on a smart, inclusive and sustainable growth through a specializing process that looks at the social and economic challenges, able to understand the characteristics of specific geographic areas. It is easily questionable why it is not as simple as it looks to come up with entrepreneurial ideas in all the geographic areas. Seen that the technology plus the human capital should be the means through which is possible to innovate and contribute to the boost of innovation culture, then the young educated people can be seen as the society changing agents and it becomes clear the importance of investigating the skills and competencies that lead to innovation. By starting innovation-based activities, other countries on an international level, are able now to be part of an healthy innovative ecosystem which is the result of a strong growth policy which enables innovation. Analyzing the geography of the innovation on a global scale, comes to light that the innovative entrepreneurship is the process which portrays the competitiveness of the regions in the knowledge-based economy as strategic process able to match intellectual capital and market opportunities. The level of innovative entrepreneurship is not only the result of the endogenous growth ability of the enterprises, but also by significant relations with other enterprises, universities, other centers of education and institutions. To obtain more innovative entrepreneurship is necessary to stimulate more synergy between all these territory actors in order to create, access and value existing and new knowledge ready to be disseminate. This study focuses on individual’s lived experience and the researcher believed that she can’t understand the human actions without understanding the meaning that they attribute to their thoughts, feelings, beliefs and so given she needed to understand the deeper perspectives captured through face-to face interaction. A case study approach will contribute to the betterment of knowledge in this field. This case study will represent a picture of the innovative ecosystem and the entrepreneurial mindset as a key ingredient of endogenous growth and a must for sustainable local and regional development and social cohesion. The case study will be realized analyzing two Chinese companies. A structured set of questions will be asked in order to gain details on what generated success or failure in the different situations with the past and at the moment of the research. Everything will be recorded not to lose important information during the transcription phase. While this work is not geared toward testing a priori hypotheses, it is nevertheless useful to examine whether the projects undertaken by the companies, were stimulated by enabling factors that, as result, enhanced or hampered the local innovation culture.

Keywords: Entrepreneurship, education, geography of innovation, education.

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Authors: Marat Kozhomberdiev

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The research will investigate the modern corporate finance management technologies currently used in the era of digitalization of the global economy and the degree to which financial institutions are utilizing these new technologies in the field of corporate finance management in Kyrgyzstan. The main purpose of the research is to reveal the role of financial management technologies as joint service centers, intercompany banks, specialized payment centers in the third-world country. Particularly, the analysis of the implacability of automated corporate finance management systems such as enterprise resource planning system (ERP) and treasury management system (TMS) will be carried out. Moreover, the research will investigate the role of cloud accounting systems in corporate finance management in Kyrgyz banks and whether it has any impact on the field of improving corporate finance management. The study will utilize a data collection process via surveying 3 banks in Kyrgyzstan, namely Mol-Bulak, RSK, and KICB. The banks were chosen based on their ownerships, such as state banks, private banks with local authorized capital, and private bank with international capital. The regression analysis will be utilized to reveal the correlation between the ownership of the bank and the use of new financial management technologies. The research will provide policy recommendations to both private and state banks on developing strategies for switching and utilizing modern corporate finance management technologies in their daily operations.

Keywords: digital economy, corporate finance, digital environment, digital technologies, cloud technologies, financial management

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Authors: Sudha Arlikatti, Laura Siebeneck, Simon A. Andrew

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The objective of this research is to measure organizational resiliency through five attributes namely, rapidity, redundancy, resourcefulness, and robustness and to provide recommendations for resiliency building in flood risk communities. The research was conducted in Thailand following the severe floods of 2011 triggered by Tropical Storm Nock-ten. The floods lasted over eight months starting in June 2011 affecting 65 of the country’s 76 provinces and over 12 million people. Funding from a US National Science Foundation grant was used to collect ephemeral data in rural (Ayutthaya), suburban (Pathum Thani), and urban (Bangkok) provinces of Thailand. Semi-structured face-to-face interviews were conducted in Thai with 44 contacts from public, private, and non-profit organizations including universities, schools, automobile companies, vendors, tourist agencies, monks from temples, faith based organizations, and government agencies. Multiple triangulations were used to analyze the data by identifying selective themes from the qualitative data, validated with quantitative data and news media reports. This helped to obtain a more comprehensive view of how organizations in different geographic settings varied in their understanding of what enhanced or hindered their resilience and consequently their speed and capacities to respond. The findings suggest that the urban province of Bangkok scored highest in resourcefulness, rapidity of response, robustness, and ability to rebound. This is not surprising considering that it is the country’s capital and the seat of government, economic, military and tourism sectors. However, contrary to expectations all 44 respondents noted that the rural province of Ayutthaya was the fastest to recover amongst the three. Its organizations scored high on redundancy and rapidity of response due to the strength of social networks, a flood disaster sub-culture due to annual flooding, and the help provided by monks from and faith based organizations. Organizations in the suburban community of Pathum Thani scored lowest on rapidity of response and resourcefulness due to limited and ambiguous warnings, lack of prior flood experience and controversies that government flood protection works like sandbagging favored the capital city of Bangkok over them. Such a micro-level examination of organizational resilience in rural, suburban and urban areas in a country through mixed methods studies has its merits in getting a nuanced understanding of the importance of disaster subcultures and religious norms for resilience. This can help refocus attention on the strengths of social networks and social capital, for flood mitigation.

Keywords: disaster subculture, flood response, organizational resilience, Thailand floods, religious beliefs and response, social capital and disasters

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Authors: Judith Klostermann, Miguel Segura, Wilma Jans, Dragana Bojovic, Isadora Christel Jimenez, Francisco Doblas-Reyees, Judit Snethlage

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The Climate Data Store (CDS), developed by the Copernicus Climate Change Service (C3S) implemented by the European Centre for Medium-Range Weather Forecasts (ECMWF) on behalf of the European Union, is intended to become a key instrument for exploring climate data. The CDS contains both raw and processed data to provide information to the users about the past, present and future climate of the earth. It allows for easy and free access to climate data and indicators, presenting an important asset for scientists and stakeholders on the path for achieving a more sustainable future. The C3S Evaluation and Quality Control (EQC) is assessing the quality of the CDS by undertaking a comprehensive user requirement assessment to measure the users’ satisfaction. Recommendations will be developed for the improvement and expansion of the CDS datasets and products. User requirements will be identified on the fitness of the datasets, the toolbox, and the overall CDS service. The EQC function of the CDS will help C3S to make the service more robust: integrated by validated data that follows high-quality standards while being user-friendly. This function will be closely developed with the users of the service. Through their feedback, suggestions, and contributions, the CDS can become more accessible and meet the requirements for a diverse range of users. Stakeholders and their active engagement are thus an important aspect of CDS development. This will be achieved with direct interactions with users such as meetings, interviews or workshops as well as different feedback mechanisms like surveys or helpdesk services at the CDS. The results provided by the users will be categorized as a function of CDS products so that their specific interests will be monitored and linked to the right product. Through this procedure, we will identify the requirements and criteria for data and products in order to build the correspondent recommendations for the improvement and expansion of the CDS datasets and products.

Keywords: climate data store, Copernicus, quality, user engagement

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Authors: Olurankinse Felix

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Local governments in Ondo State Nigeria are the third tier of government saddled with the responsibility of providing governance and economic services at the grassroots. To be able to do this, the Constitution of the Federal Republic of Nigeria provided that a proportion of Federation Account be allocated to them in addition to their internally generated revenue. From the allocation and other incidental sources of revenue, the local governments are expected to provide basic infrastructures and other social amenities to better the lots of the rural dwellers. Nevertheless, local governments’ performances in terms of provision of social amenities are without questioning and quite not encouraging. Assessing the performance of local governments in this period of dearth and scarcity of resources is highly indispensable more so that the activities of local governments’ staff are bedeviled and characterized with fraud, corruption and mismanagement. Considering the direct impact of the consequences of their action on the living standard of the rural dwellers therefore calls for the need to evaluate their level of performances using capital budgeting approach. The paper being a time series study adopts the survey design. Data were obtained through secondary source mainly from the Annual financial statements and publication of approved budgets estimates covering the period of study (2008-2012). The use of ratio analysis was employed in analyzing the comparative level of performances of the local governments under study. The result of the study shows that less than 30% of the local governments were able to harness the budgetary allocation to provide amenities to the beneficiaries while majority of the local governments were involved in unethical conduct ranging from theft of fund, corruption, diversion of funds and extra-budgetary activities. Also, there is poor internally generated revenue to complement the statutory allocation and besides, the monthly withholding of larger portions of local government share by the state in the name of joint account were also seen as contributory factors. The study recommends the need for transparency and accountability in public fund management through the oversight function of the state house of assembly. Also local government should be made to be autonomous and independent of the state by jettisoning the idea of joint account.

Keywords: performance, transparency and accountability, capital budgeting, joint account, local government autonomy

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Authors: Sofia Quaglia, Carmine Di Martino, Brendan Tierney

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Artificial Intelligence (A.I.) constitutes various aspects of modern life, from the Machine Learning algorithms predicting the stocks on Wall streets to the killing of belligerents and innocents alike on the battlefield. Moreover, the end goal is to create autonomous A.I.; this means that the presence of humans in the decision-making process will be absent. The question comes naturally: when an A.I. does something wrong when its behavior is harmful to the community and its actions go against the law, which is to be held responsible? This research’s subject matter in A.I. and Robot Ethics focuses mainly on Robot Rights and its ultimate objective is to answer the questions: (i) What is the function of rights? (ii) Who is a right holder, what is personhood and the requirements needed to be a moral agent (therefore, accountable for responsibility)? (iii) Can an A.I. be a moral agent? (ontological requirements) and finally (iv) if it ought to be one (ethical implications). With the direction to answer this question, this research project was done via a collaboration between the School of Computer Science in the Technical University of Dublin that oversaw the technical aspects of this work, as well as the Department of Philosophy in the University of Milan, who supervised the philosophical framework and argumentation of the project. Firstly, it was found that all rights are positive and based on consensus; they change with time based on circumstances. Their function is to protect the social fabric and avoid dangerous situations. The same goes for the requirements considered necessary to be a moral agent: those are not absolute; in fact, they are constantly redesigned. Hence, the next logical step was to identify what requirements are regarded as fundamental in real-world judicial systems, comparing them to that of ones used in philosophy. Autonomy, free will, intentionality, consciousness and responsibility were identified as the requirements to be considered a moral agent. The work went on to build a symmetrical system between personhood and A.I. to enable the emergence of the ontological differences between the two. Each requirement is introduced, explained in the most relevant theories of contemporary philosophy, and observed in its manifestation in A.I. Finally, after completing the philosophical and technical analysis, conclusions were drawn. As underlined in the research questions, there are two issues regarding the assignment of moral agency to artificial agent: the first being that all the ontological requirements must be present and secondly being present or not, whether an A.I. ought to be considered as an artificial moral agent. From an ontological point of view, it is very hard to prove that an A.I. could be autonomous, free, intentional, conscious, and responsible. The philosophical accounts are often very theoretical and inconclusive, making it difficult to fully detect these requirements on an experimental level of demonstration. However, from an ethical point of view it makes sense to consider some A.I. as artificial moral agents, hence responsible for their own actions. When considering artificial agents as responsible, there can be applied already existing norms in our judicial system such as removing them from society, and re-educating them, in order to re-introduced them to society. This is in line with how the highest profile correctional facilities ought to work. Noticeably, this is a provisional conclusion and research must continue further. Nevertheless, the strength of the presented argument lies in its immediate applicability to real world scenarios. To refer to the aforementioned incidents, involving the murderer of innocents, when this thesis is applied it is possible to hold an A.I. accountable and responsible for its actions. This infers removing it from society by virtue of its un-usability, re-programming it and, only when properly functioning, re-introducing it successfully

Keywords: artificial agency, correctional system, ethics, natural agency, responsibility

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Authors: Fan Yang

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With the development of social economy and the popularization of quality education, the Chinese government invests more and more funding in education. Campus constructions are experiencing a great development phase. Under the trend of sustainable development, modern green campus design needs to meet new requirements of contemporary, informational and diversified education means and adapt to future education development. Educators, designers and other participants of campus design are facing new challenges. By studying and analyzing the universal unsatisfied current situations and sustainable development requirements of Chinese campuses, this paper summarizes the strategies and intentions of the whole-life-cycle campus design. In addition, a Chinese high school in Zhejiang province is added to illustrate the design cycle in an actual case. It is aimed to make all participants of campus design, especially the designers, to realize the importance of whole-life-cycle campus design and cooperate better. Sustainable campus design is expected to come true in deed instead of becoming a slogan in this way.

Keywords: campus design, green school, sustainable development, whole-life-cycle design

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Authors: Khadija Amin

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The significant contribution of foreign investment in promoting economic recovery, especially in countries recovering from conflict, is generally recognized. This study examines the influence of foreign investment on the economic development of countries that have had long-lasting internal conflicts. The study examines the complex correlation between foreign investment and economic progress using the production function framework based on endogenous growth theory. In addition to foreign investment, the research considers a range of factors that affect economic growth, such as trade dynamics, the spread of information, attempts to promote peace, changes in the labor market, and the accumulation of domestic capital. The study challenges common beliefs by revealing a statistically negligible negative association between GDP growth and foreign investment (FI) inflows in post-war economies. The existing literature highlights the positive impact of trade and foreign investment on economic growth. However, this study emphasizes that these impacts are complex and depend on various contextual factors such as trade policies, infrastructure development, domestic investment levels, human capital development, and macroeconomic stability. The results emphasize the crucial significance of foreign investment in stimulating development while also drawing attention to the intricacies of precisely assessing its economic consequences. Measuring the economic impact of foreign investment is a difficult task that requires detailed analysis considering many contextual elements and changing socioeconomic conditions.

Keywords: economic grouths, foreign investment, trade policies, domestic investment

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Authors: Cristina Costa-Lobo, Ana Medeiros, Ana Campina

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This study refers to the appropriateness of the psychopedagogical intervention programs focused on the adjustment and psychological well-being of children with characteristics of giftedness and the interests of promoting specialized and permanent follow-up to these children. It was intended to find out the impact on perceived self-efficacy in children with characteristics of giftedness after the frequency of a psychopedagogical intervention program. For this was applied to Multidimensional Scale Perceived Self-Efficacy, in two times (pre and post program frequency), in a quasi-experimental design. Innovative data are presented in reports to the relationship of perceived self-efficacy with giftedness, highlighting the evidence of this program focusing on the development of personal, social and emotional skills, applied to 20 children with characteristics of giftedness, in Northern Portugal, in the 2014-2015 school year, have no influence on perceived self-efficacy of children with characteristics of giftedness. The main implication of this research is congruent with the conclusions of studies that point that the greatest challenge in the education of children with characteristics of giftedness is to extend the traditional investment in intellectual production and creative capital to include an equal investment in social capital and the development of competencies of executive functions, dimensions that development programs stimulate. This study appeals to the need of children with characteristics of giftedness to be targets of psychopedagogical intervention programs with the constant specialization and constant updating of the knowledge of the professionals who work with them, motivated by being individuals with such specific and ever-changing characteristics reflecting an inclusive school life.

Keywords: giftedness, perceived self-efficacy, EMAEP, psychopedagogical intervention programs

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Authors: Han Xiao, Ruan Qi, Zhang Lei, Qi Yan

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Space environment simulator is a facility used to conduct thermal test for spacecraft, and vacuum vessel is the main body of it. According to the requirements for thermal tests of the spacecraft and its solar array panels, the primary vessel and the side vessels are designed to be a combinative structure connected with aperture, which ratio reaches 0.7. Since the vacuum vessel suffers 0.1MPa external pressure during the process of thermal test, in order to ensure the simulator’s reliability and safety, it’s necessary to calculate the vacuum vessel’s intensity and stability. Based on the impact of large openings to vacuum vessel structure, this paper explored the reinforce design and analytical way of vacuum vessel with large openings, using a large space environment simulator’s vacuum vessel design as an example. Tests showed that the reinforce structure is effective to fulfill the requirements of external pressure and the gravity. This ensured the reliability of the space environment simulator, providing a guarantee for developing the spacecraft.

Keywords: vacuum vessel, large opening, space environment simulator, structure design

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Authors: Andrew D. Henshaw

Abstract:

The research examines the influence of familial and kinship based leadership on the resilience of politically violent organizations. Organizations of this type frequently fight in the same conflicts though are called 'terrorist' or 'insurgent' depending on political foci of the time, and thus different approaches are used to combat them. The research considers them correlated phenomena with significant overlap and identifies strengths and vulnerabilities in resilience processes. The research employs paired case studies to examine resilience in organizations under significant external pressure, and achieves this by measuring three variables. 1: Organizational robustness in terms of leadership and governance. 2. Bounce-back response efficiency to external pressures and adaptation to endogenous and exogenous shock. 3. Perpetuity of operational and attack capability, and political legitimacy. The research makes three hypotheses. First, familial/kinship leadership groups have a significant effect on organizational resilience in terms of informal operations. Second, non-familial/kinship organizations suffer in terms of heightened security transaction costs and social economics surrounding recruitment, retention, and replacement. Third, resilience in non-familial organizations likely stems from critical external supports like state sponsorship or powerful patrons, rather than organic resilience dynamics. The case studies pair familial organizations with non-familial organizations. Set 1: The Haqqani Network (HQN) - Pair: Lashkar-e-Toiba (LeT). Set 2: Jemaah Islamiyah (JI) - Pair: The Abu Sayyaf Group (ASG). Case studies were selected based on three requirements, being: contrasting governance types, exposure to significant external pressures and, geographical similarity. The case study sets were examined over 24 months following periods of significantly heightened operational activities. This enabled empirical measurement of the variables as substantial external pressures came into force. The rationale for the research is obvious. Nearly all organizations have some nexus of familial interconnectedness. Examining familial leadership networks does not provide further understanding of how terrorism and insurgency originate, however, the central focus of the research does address how they persist. The sparse attention to this in existing literature presents an unexplored yet important area of security studies. Furthermore, social capital in familial systems is largely automatic and organic, given at birth or through kinship. It reduces security vetting cost for recruits, fighters and supporters which lowers liabilities and entry costs, while raising organizational efficiency and exit costs. Better understanding of these process is needed to exploit strengths into weaknesses. Outcomes and implications of the research have critical relevance to future operational policy development. Increased clarity of internal trust dynamics, social capital and power flows are essential to fracturing and manipulating kinship nexus. This is highly valuable to external pressure mechanisms such as counter-terrorism, counterinsurgency, and strategic intelligence methods to penetrate, manipulate, degrade or destroy the resilience of politically violent organizations.

Keywords: Counterinsurgency (COIN), counter-terrorism, familial influence, insurgency, intelligence, kinship, resilience, terrorism

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Authors: Michael Adedotun Oke

Abstract:

This paper, therefore, under study the various multiplier usages of the different Animal Dungs, from the animals such as Rabbits, Cows, Fishes, Sheep, and Poultry manure in the areas council of the Federal Capital Territory Abuja, Nigeria. Thus the various observations, with the pictorial representation, that was taken with the field survey from the different farms in Gwagawalada. Shows that the rabbits dungs are being used in some of the vegetables and crop farms, which serves as the nutrients, reduces the cost of production, ensure profitability, which also increases the different vegetative growth, early maturity, and the development of the crop and this is also applicable to some crops like maize, sweet potatoes. While the manure of the poultry products are being incorporated to fish ponds and the cows dungs are being used to serve as some manure to some certain crops, e.g. Okro, Maize, Pepper. Which provides the necessary nutritious values, but the various number of quantity of different bags of the various application are lacking, and the time of usage, it is also a life germane questions, which there are needs for further adaptive research, that will be involved and the reintroduction of new technology, that will be used in terms of the different methodology such as broadcasting and ring applications, of the dungs at large, while the seasons of the various applications. Thus the paper, therefore, suggested a training programs and production of manuals that will guide the various applications and usage and the effective dissemination of the various used of the simple technology, that will advances and teaching of a new mode of and the time of applications and the various quantity to used, during the applications.

Keywords: animals, usage, livestock, dungs, feaces, gwagawalada

Procedia PDF Downloads 175