Search results for: evidence for policy

Authors: Daria N. Podvigina, Tatiana V. Chernigovskaya

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We have studied the temporal characteristics of bistable perception of the stimuli of two types: one involves alterations in a perceived depth and another one has an ambiguous content. We used the Necker lattice and lines of shadowed circles ambiguously perceived either as spheres or holes as stimuli of the first type. The Winson figure (the Eskimo/Indian picture) was a stimulus of the second type. We have analyzed how often the reversals occurred (reversal rate) and for how long each of the two interpretations, or percepts, was observed during one presentation (stability durations). For all three ambiguous images the reversal rate and the stability durations had similar values, which provide another evidence for a significant role of top-down processes in multistable perception.

Keywords: multistable perception, perceived depth, reversal rate, top-down processes

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Authors: Alexandra M. Kriofske Mainella

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This paper will examine the need for more aggressive public policies around bodily, reproductive and sexual health education for young people with disabilities in the United States. This paper will consider the policies around sexuality education for students in the United States and the recommendation for national standards around sexuality education. We will investigate the intersection of these policies and recommendations for students with disabilities and the Individuals with Disabilities Education Act (IDEA): what this means for students with disabilities’ access to comprehensive sexuality education and how it affects their behaviors and outcomes.

Keywords: disability, sexuality, education, policy

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Authors: Xiaoli Tian

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The recent growing interest in and use of complementary and alternative medicine is a global phenomenon. In many regions, traditional Chinese medicine (TCM), an important type of complementary and alternative medicine, has been formally integrated into the healthcare system. Consequently, today’s doctors face increasing requests and questions from patients regarding TCM. However, studies of TCM focus either on patients’ approaches to TCM and Western medicine (WM) or on the politics involved in the institutionalization of TCM. To our knowledge, sociological studies on doctors’ attitudes toward TCM are rare. This paper compares the receptivity of WM-trained Chinese doctors to TCM in Hong Kong and mainland China, in order to evaluate the interplay between professional training and dominant medical paradigms, on the one hand, and institutional legitimacy and government and client pressures to accept TCM, on the other. Based on survey and in-depth interviews with Western-medicine doctors in Hong Kong and mainland China, this research finds that: there is major difference between Western-medicine doctors’ attitude toward traditional Chinese medicine (TCM) in Hong Kong and mainland China. Doctors in Hong Kong are still suspicious toward TCM, no matter if they have exposure to TCM or not. Even some doctors who have much knowledge about TCM, such as got a diploma or certificate in TCM or tried TCM themselves, are still suspicious. This is because they hold up to the ideal of 'evidence-based medicine' and emphasize the kind of evidence based on randomized controlled trial (RCT). To Western medicine doctors in Hong Kong, this is the most reliable type of evidence for any medical practice, but it is lacking in TCM. This is the major reason why they do not trust TCM and would not refer patients to TCM in clinical practices. In contrast, western medicine doctors in mainland China also know about randomized controlled trial (RCT) and believe that’s the most reliable evidence, but they tend to think experience-based evidence is also reliable. On this basis, they think TCM also has clinical effectiveness. Research findings reveal that legitimacy based on institutional arrangements is a relevant factor, but how doctors understand their professional boundaries also play an important role. Doctors in Hong Kong are more serious about a strict professional boundary between Western medicine and TCM because they benefited from it, such as a very prestigious status and high income. Doctors in mainland China tend to be flexible about professional boundaries because they never benefited from a well-defined strict professional boundary. This is related to a long history of the lack of professionalism in China but is also aggravated by the increasing state support of TCM.

Keywords: evidence-based decision-making, institutional legitimacy, professional behavior, traditional Chinese medicine

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Authors: Karl Mabiala Dondia, Jing Ma

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In recent years, networks based on the 802.11 standards have gained a prolific deployment. The reason for this massive acceptance of the technology by both home users and corporations is assuredly due to the "plug-and-play" nature of the technology and the mobility. The lack of physical containment due to inherent nature of the wireless medium makes maintenance very challenging from a security standpoint. This study examines via continuous monitoring various predictable threats that 802.11 networks can face, how they are executed, where each attack may be executed and how to effectively defend against them. The key goal is to identify the key components of an effective wireless security policy.

Keywords: wireless LAN, IEEE 802.11 standards, continuous monitoring, security policy

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Authors: Minghua Chen, Rui Wang

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This paper addresses the impact of foreign ownership on the risk-taking behavior of banks. Using bank-level panel data of more than 1,300 commercial banks in 32 emerging economies during 2000-2013, we find that foreign owned banks take on more risk than their domestic counterparts. We further examine several factors that may potentially contribute to foreign banks’ differentiated riskiness from four perspectives, namely, foreign banks’ informational disadvantages, agency problems, the contagious effect of parent banks’ financial conditions and the disparity between home and host markets. We find supportive evidence that these factors play a significant role in affecting foreign banks’ risk-taking.

Keywords: bank risk-taking, emerging economies, financial liberalization, foreign banks

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Authors: M. Moiz

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Family planning has been known and accepted as a key tool to decrease fertility, provides birth spacing and plays a vital role to attain better outcomes for maternal and child health. Pakistan initiated various family planning programs to preserve maternal and child health for six decades. However, less contraceptive use leading to high fertility and low birth spacing is ultimately a risk for increasing morbidity and mortality. As an outcome of 2012 London Summit on Family Planning where 20 countries including Pakistan made its commitment to increase contraceptive prevalence rate by 55% and provide a universal access to reproductive health to protect human rights of women and ensure safe, choice informed and affordable contraceptives throughout the country. This paper will assess some of the factors of service delivery, coverage and the role of Ministry of Health and Population Welfare Department in providing Family Planning services and how it can be improved in Pakistan. In view of Pakistan Demographic Health Survey 2017-18, there are total nine million potential users of contraceptives and one third among them never used with unmet need while every fifth pregnancy ends into abortion indicates need for Family Planning services. In order to explain this concern, a comprehensive analysis has been done on role of governance in implementing family planning policy and its limitations are discussed. Moreover, this paper highlights policy options and recommendations for improving service provision through public and private sector in creating demand for Family Planning services in Pakistan.

Keywords: contraceptive prevalence rate, family planning, maternal and child health, policy options

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Authors: Mathew Tran, Deepa Patel, Breann Prophete, Irandokht Khaki Najafabadi

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Status epilepticus is a neurological disorder requiring emergent control with medical therapy. Based on guideline recommendations for adults with status epilepticus, the first-line treatment is to start a benzodiazepine, as they are quick at seizure control. The second step is to initiate a non-benzodiazepine anti-epileptic drug to prevent refractory seizures. Studies show that the anti-epileptic drugs are approximately equivalent in status epilepticus control once a benzodiazepine has been given. This review provides a brief overview of the management of status epilepticus based on evidence from the literature and evidence-based guidelines.

Keywords: neurological disorder, seizure, status epilepticus, benzo diazepines, antiepileptic agents

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Authors: Freda E. Asem, R. D. Osei, D. B. Sarpong, J. K. Kuwornu

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While market access remains important, Ghana’s major handicap is her inability to sustain export growth on the open market. The causes of these could be attributed to inefficiency, lack of competitiveness and supply-side constraints. This study examined the challenges faced by smallholder horticultural farmers and how it relates to their technical efficiency. The study employed mixed methods to address the problem. Using the Millennium Development Account (MiDA) Farmer Based Organization survey data on farm households in 23 districts in Ghana, the study assessed the technical efficiency of smallholder horticultural farmers (taking into account production risks). Focus group discussions (FGDs) and in-depth interviews were also conducted on smallholder mango, pineapple, and chilli pepper farmers selected districts in Ghana. Results revealed the constraints faced by smallholder horticultural farmers to be marketing, training, funding, accessibility, and affordability of inputs, land, access to credit, and the disconnect between themselves and policy makers and implementers.

Keywords: productivity, gender, policy, efficiency, constraints

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Authors: Charles Kwaku Oppong

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The research linked urban expansion resulting from urbanization with changing morphology processes happening in peri-urban communities. Two villages of Kumasi City peri-urban were used as a case study. Appropriate analytical framework and methodology (literature review and empirical evidence) were employed to ensure that all pertinent issues of peri-urban interface are brought to light. It was discovered from the study that since peri-urban livelihood is linked with assets base; it has been found that stock of asset, as well as transformation processes, were major factors in the shaping of livelihoods strategies. For that reason, success or failure of household livelihoods was seen to relate to the kind of livelihood strategy employed. With efforts to mitigate for livelihoods failure due to peri-urban development, households' recourse to remittances, land disposal, and other means as an alternative livelihood approach. The study calls for local government policy interventions in regulating peri-urban transformation process and providing safety nets for the vulnerable.

Keywords: urban expansion, peri-urban interface, livelihoods, asset

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Authors: William Burdick

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Manmade climate change is an existential threat that must be mitigated at the earliest opportunity. The role of government in climate change mitigation is enacting and enforcing law and policy to affect substantial reductions in greenhouse gasses, in the short and long term, without substantial increases in the cost of energy. To be optimally effective those laws and policies must be established and enforced based on peer reviewed evidence and scientific facts and result in substantial outcomes in years, not decades. Over the next fifty years, New York’s 2019 Climate Change and Community Protection Act and 2021 All Electric Building Act that mandate replacing natural gas heating systems with heat pumps will, immediately double annual heating costs and by 2075, yield less than 16.2% reduction in CO₂ emissions from heating systems in new housing units, less than a 13% reduction in total CO₂ emissions, and affect a $40B in cumulative additional heating cost, compared to natural gas fueled heating systems.

Keywords: climate change, mandate, heat pump, natural gas

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Authors: Chiung-Ju Huang, Yuan-Hong Ho

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This study utilizes the International Monetary Fund (IMF) Fiscal Rules Dataset focusing on four specific fiscal rules such as expenditure rule, revenue rule, budget balance rule, and debt rule and five main characteristics of each fiscal rule those are monitoring, enforcement, coverage, legal basis, and escape clause to construct the Fiscal Rule Index for nine countries in the Asia-Pacific region from 1996 to 2015. After constructing the fiscal rule index for each country, we utilize the Panel Generalized Method of Moments (Panel GMM) by using the constructed fiscal rule index to examine the effectiveness of fiscal rules in reducing procyclicality. Empirical results show that national fiscal rules have a significantly negative impact on procyclicality of government expenditure. Additionally, stricter fiscal rules combined with high government effectiveness are effective in reducing procyclicality of government expenditure. Results of this study indicate that for nine Asia-Pacific countries, policymakers’ use of fiscal rules and government effectiveness to reducing procyclicality of fiscal policy are effective.

Keywords: counter-cyclical policy, fiscal rules, government efficiency, procyclical policy

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Authors: Andrey Makarov

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This article will focus on the development of antitrust policy in transition economies in the context of preventing explicit and tacit collusion. Experience of BRICS, CIS (Ukraine, Kazakhstan) and CEE countries (Bulgaria, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Czech Republic, Estonia) in the creation of antitrust institutions was analyzed, including both legislation and enforcement practice. Most of these countries in the early 90th were forced to develop completely new legislation in the field of protection of competition and it is important to compare different ways of building antitrust institutions and policy results. The article proposes a special approach to evaluation of preventing collusion mechanisms. This approach takes into account such enforcement problems as: classification problems (tacit vs explicit collusion, vertical vs horizontal agreements), flexibility of prohibitions (the balance between “per se” vs “rule of reason” approaches de jure and in practice), design of sanctions, private enforcement challenge, leniency program mechanisms, the role of antitrust authorities etc. The analysis is conducted using both official data, published by competition authorities, and expert assessments. The paper will show how the integration process within the EU predetermined some aspects of the development of antitrust policy in CEE countries, including the trend of the use of "rule of reason" approach. Simultaneously was analyzed the experience of CEE countries in special mechanisms of government intervention. CIS countries in the development of antitrust policy followed more or less original ways, without such a great impact from the European Union, more attention will be given to Russian experience in this field, including the analysis of judicial decisions in antitrust cases. Main problems and challenges for transition economies in this field will be shown, including: Legal uncertainty problem; Problem of rigidity of prohibitions; Enforcement priorities of the regulator; Interaction of administrative and criminal law, limited effectiveness of criminal sanctions in the antitrust field; The effectiveness of leniency program design; Private enforcement challenge.

Keywords: collusion, antitrust policy, leniency program, transition economies, Russia, CEE

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Authors: Mujeeb Saif Mohsen Al-Absy, Ku Nor Izah Ku Ismail, Sitraselvi Chandren

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This study examines whether corporate governance (CG) mechanisms in firms that have a whistle-blowing policy (WHBLP) are more effective in constraining earnings management (EM), than those without. A sample of 288 Malaysian firms for the years 2013 to 2015, amounting to 864 firm-years were grouped into firms with and without WHBLP. Results show that for firms without WHBLP, the board chairman tenure would minimize EM activities. Meanwhile, for firms with WHBLP, board chairman independence, board chairman tenure, audit committee size, audit committee meeting and women in the audit committees are found to be associated with less EM activities. Further, it is found that ownership concentration and Big 4 auditing firms help to reduce EM activities in firms with WHBLP, while not in firms without WHBLP. Hence, functional and effective governance can be achieved by having a WHBLP, which is in line with agency and resource dependent theories. Therefore, this study suggests that firms should have a WHBLP in place, and policymakers should come up with enhanced criteria to strengthen the mechanisms of WHBLP.

Keywords: corporate governance, earnings management, whistle-blowing policy, audit committee, board of directors

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Authors: Guan-Ying Chen, Han-Tsung Liou, Shou-Ren Hu

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To address traffic congestion problems and encourage the use of public transportation systems in the Taipei metropolitan area, the Taipei City Government and the New Taipei City Government implemented a monthly ticket policy on April 16, 2018. This policy offers unlimited rides on the Taipei MRT, Taipei City Bus, New Taipei City Bus, Danhai Light Rail, and Public Bike (YouBike) on a monthly basis. Additionally, both city governments replaced the smart card discount policy with a new frequent flyer discount program (referred to as the loyal customer program) on February 1, 2020, introducing a differential pricing policy. Specifically, the more frequently the Taipei MRT system is used, the greater the discounts users receive. To analyze the impact of the Taipei public transport monthly ticket policy and the frequent user discount program on the passenger volume of the Taipei MRT system and the transferring behaviors of MRT users, this study conducts a trip-chain analysis using transaction data from Taipei MRT smart cards between September 2017 and December 2020. To achieve these objectives, the study employs four indicators: 1) number of passengers, 2) average number of rides, 3) average trip distance, and 4) instances of multiple consecutive rides. The study applies the t-test and Mann-Kendall trend test to investigate whether the proposed indicators have changed over time due to the implementation of the discount policy. Furthermore, the study examines the travel behaviors of passengers who use monthly tickets. The empirical results of the study indicate that the implementation of the Taipei public transport monthly ticket policy has led to an increase in the average number of passengers and a reduction in the average trip distance. Moreover, there has been a significant increase in instances of multiple consecutive rides, attributable to the unlimited rides offered by the monthly tickets. The impact of the frequent user discount program on changes in MRT passengers is not as pronounced as that of the Taipei public transportation monthly ticket policy. This is partly due to the fact that the frequent user discount program is only applicable to the Taipei MRT system, and the passenger volume was greatly affected by the COVID-19 pandemic. The findings of this research can serve as a reference for Taipei MRT Corporation in formulating its fare strategy and can also provide guidance for the Taipei and New Taipei City Governments in evaluating differential pricing policies for public transportation systems.

Keywords: frequent user discount program, mass rapid transit, monthly ticket, smart card

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Authors: Soumaya Ben Kheilifa, Dorra Mezzez Hmaied

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We propose two approaches to examine whether European hedge fund managers can time market liquidity. Using a sample of 1616 European hedge funds, we find evidence of liquidity timing. More importantly, this ability adds economic value to investors. Thus, it represents valuable managerial skill and a major source of European hedge funds’ performance. Also we show that the majority of these funds demonstrate liquidity timing ability especially during liquidity crisis. Finally, it emerged that our main evidence of liquidity timing remains significant after controlling for market timing and volatility timing.

Keywords: european hedge funds, liquidity timing ability, market liquidity, crisis

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Authors: Zainurrasyid Abdullah, Mohamed Fadzlee Sulaiman, Muhammad Fadzlan Zainal, M. Zabri Adil Talib, Aswami Fadillah M. Ariffin

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The Onion Router (Tor) browser is a well-known tool and widely used by people who seeking for web anonymity when browsing the internet. Criminals are taking this advantage to be anonymous over the internet. Accessing the dark web could be the significant reason for the criminal in order for them to perform illegal activities while maintaining their anonymity. For a digital forensic analyst, it is crucial to extract the trail of evidence in proving that the criminal’s computer has used Tor browser to conduct such illegal activities. By applying the digital forensic methodology, several techniques could be performed including application analysis, memory analysis, and registry analysis. Since Windows 10 is the latest operating system released by Microsoft Corporation, this study will use Windows 10 as the operating system platform that running Tor browser. From the analysis, significant artifacts left by Tor browser were discovered such as the execution date, application installation date and browsing history that can be used as an evidence. Although Tor browser was designed to achieved anonymity, there is still some trail of evidence can be found in Windows 10 platform that can be useful for investigation.

Keywords: artifacts analysis, digital forensics, forensic analysis, memory analysis, registry analysis, tor browser, Windows 10

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Authors: Elad Harison

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The paper identifies the complex links between post-COVID-19 inflationary pressures and global supply chains. Throughout the COVID-19 lockdowns and long periods after the termination of social distancing policies, consumers, notably in the U.S., have confronted and still face disruptions in the supply of goods. The study analyzes the monetary policy in the U.S. that led to the significant shift in consumer demand during a limited supply period, hence resulting in shortages and emphasizing inflationary dynamics. We argue that the monetary guidelines applied by the U.S. government further elevated the scope of supply chain disruptions.

Keywords: consumer demand, COVID-19, inflation, monetary policy, supply chain

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Authors: J. O. Alvarez, L. Y. Rivera

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Physical activity can reduce symptomatology in children with autism spectrum disorder (ASD). The sport of soccer has been widely applied as a therapeutic method for ASD children. However, empirical results from soccer programs are not widely known. This paper presents the case study of Golitos, the only dedicated soccer program for children on the island of Puerto Rico, and analyzes its results in the reduction of ASD social and emotional symptoms. The paper shows evidence that suggests that program approach, content, and community-based elements can make a notable difference in the effectiveness of using soccer or sports as therapeutic methods for children with ASD.

Keywords: autism, soccer, program, community

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Authors: Atiqa Marium

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In 2015, all 193 UN Member countries adopted the 2030 Agenda for Sustainable Development, which is an ambitious 15- year plan to address some of the most pressing issues the world faces. Goal 4 is about Quality Education which highlights the importance of inclusive and quality education for sustainable development. Sustainable Development Goal 10 focuses on reducing inequalities within and among countries. In June 2019, Federal Government in Canada released “Towards Canada’s 2030 Agenda National Strategy”, which was an important step to move the 2030 Agenda forward. In April 2019, the Ontario government announced the performance-based funding model for publically assisted colleges and universities in Ontario, which is now part of the universities’ budget 2024-2025. The literature review has shown that the funding model has been implemented by different governments to achieve objectives. However, this model has also resulted in conflicting consequences like reducing university autonomy, education quality/ academic standards, and increased equity concerns. The primary focus of this paper will be to analyze the tensions and coherence between the proposed funding model for education for sustainable development goals and targets set by Canada’s 2030 Agenda National Strategy. Considering that the literature review has provided evidence that the performance-based funding model has resulted in reducing quality of education and increased equity issues in other countries, it will be interesting to see how this proposed funding will align with the SDGs of “Quality Education” and “Reduced Inequalities”. This paper will be well-suited for Volume 4, with the theme of re-visioning institutional impact and sustainability. This paper will underscore the importance of policy coherence between federal and provincial policies for higher education institutions in Ontario for better institutional impact and helping universities in the attainment of goals set in 2030 Agenda towards education for sustainable development.

Keywords: performance-based funding model, education for sustainable development, policy coherence, sustainable development gaols

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Authors: A. S. CohenMiller, Jenifer Lewis, Gwen McEvoy, Kristy Kelly

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This international, interdisciplinary study presents the first stage of a gender mainstreaming project within one university as a microcosm of society in Kazakhstan to make concrete policy recommendations and set up the potential for new research to monitor change over time. Local, regional, and UN representatives have noted the critical need and interest in gender related issues in Kazakhstan. Gender mainstreaming has been noted as a strategy to understand and address gender equality and equity such as within the academy in exploring and examining organizational/management issues, university decision-making and leadership, assessing the overall academic climate, discrimination issues, hiring and promotion, and student recruitment and retention. This presentation provides preliminary findings from the university gender audit, highlighting key elements for moving forward in gender mainstreaming. The full study analyzes findings from the full gender audit including interview with key stakeholders, time-use surveys, participant-observations and interviews with female students, staff and faculty, and reviews of formal organizational policies and practices.

Keywords: academia, equity, Eurasia, gender audit, gender mainstreaming, Kazakhstan, policy, time-use survey

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Authors: Chih-Hsiang Chang

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This study provides insight into the effects of investor sentiment, excess optimism, overconfidence, the disposition effect, and herding formation on momentum profits. This study contributes to the field by providing a further examination of the relationship between psychological factors and momentum profits. The empirical results show that there is no evidence of significant momentum profits in Taiwan’s stock market. Additionally, investor sentiment in Taiwan’s stock market significantly influences its momentum profits.

Keywords: momentum profits, psychological factors, herding formation, investor sentiment

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Authors: Farhad Shafiepour Motlagh, Narges Salehi

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Purpose: The aim of the present study was a paradigm model of educational policy review strategies for the development of Professional schools in Iran. Research Methodology: The research method was based on Grounded theory. The statistical population included all articles of the ten years 2022-2010 and the method of sampling in a purposeful manner to the extent of theoretical saturation to 31 articles. For data analysis, open coding, axial coding and selective coding were used. Results: The results showed that causal conditions include social requirements (social expectations, educational justice, social justice); technology requirements (use of information and communication technology, use of new learning methods), educational requirements (development of educational territory, Development of educational tools and development of learning methods), contextual conditions including dual dimensions (motivational-psychological context, context of participation and cooperation), strategic conditions including (decentralization, delegation, organizational restructuring), intervention conditions (poor knowledge) Human resources, centralized system governance) and outcomes (school productivity, school professionalism, graduate entry into the labor market) were obtained. Conclusion: A review of educational policy is necessary to develop Iran's Professional schools, and this depends on decentralization, delegation, and, of course, empowerment of school principals.

Keywords: school productivity, professional schools, educational policy, paradigm

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Authors: Charles Simplice Mbatsogo Mebo

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With growth picking up again, Africa seems increasingly attractive for its own nationals who return home through new opportunities available for them. The purpose of our research paper is to understand the role of the international partners in Cameroon, with regards to their support for the return and reintegration of migrants. We, therefore, questioned the relevance and effectiveness and efficacy of international instruments in reintegrating returnees to Cameroon. After our analysis that was conducted on the basis of a documentary exploration, interviews, and field surveys, it appears that the contribution of the international partners in Cameroon is proven in relation to their participation in the financing and placement of returned experts. However, their contribution remains insufficient due to their low level of deployment and the insignificant impact of their investments on the reintegration of Cameroonian Diasporas. The research also reveals some exogenous and endogenous constraints that hinder international institutions' actions in terms of accompanying migrants returning to Cameroon. Finally, for a better management of the returnees' issue, it is necessary to set up a mechanism to raise awareness and a coordination system of all international actors involved. It is also relevant to reform the migration policy, build institutional capacities, and improve the juridical-administrative and economic environment so as to favor co-development in Cameroon.

Keywords: international partners, returnees, diaspora, migration policy, co-development

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Authors: Anyapak Prapannetivuth

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The purpose of this research is to investigate the marketing mix that is perceived to be important for the small sized hotels in Pattaya. Unlike previous studies, this research provides insights through a review of the marketing activities performed by the small sized hotels. Nine owners and marketing manager of small sized hotels and resorts, all local Chonburi people, were selected for an in-depth interview. A snowball sampling process was employed. The research suggests that seven marketing mixes (e.g. Product, Price, Place, Promotion, People, Physical Evidence and Process) were commonly used by these hotels, however, three types – People, price and physical evidence were considered most important by the owners.

Keywords: marketing mix, marketing tools, small sized hotels, pattaya

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Authors: Yen-Luan Chen

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Maintenance has a great impact on the capacity of production and on the quality of the products, and therefore, it deserves continuous improvement. Maintenance procedure done before a failure is called preventive maintenance (PM). Sequential PM, which specifies that a system should be maintained at a sequence of intervals with unequal lengths, is one of the commonly used PM policies. This article proposes a generalized sequential PM policy for a system subject to shocks with imperfect maintenance and random working time. The shocks arrive according to a non-homogeneous Poisson process (NHPP) with varied intensity function in each maintenance interval. As a shock occurs, the system suffers two types of failures with number-dependent probabilities: type-I (minor) failure, which is rectified by a minimal repair, and type-II (catastrophic) failure, which is removed by a corrective maintenance (CM). The imperfect maintenance is carried out to improve the system failure characteristic due to the altered shock process. The sequential preventive maintenance-last (PML) policy is defined as that the system is maintained before any CM occurs at a planned time Ti or at the completion of a working time in the i-th maintenance interval, whichever occurs last. At the N-th maintenance, the system is replaced rather than maintained. This article first takes up the sequential PML policy with random working time and imperfect maintenance in reliability engineering. The optimal preventive maintenance schedule that minimizes the mean cost rate of a replacement cycle is derived analytically and determined in terms of its existence and uniqueness. The proposed models provide a general framework for analyzing the maintenance policies in reliability theory.

Keywords: optimization, preventive maintenance, random working time, minimal repair, replacement, reliability

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Authors: Yuanxiaoyue Yang

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Emissions trading, or ‘cap-and-trade', has been long promoted by economists as a more cost-effective pollution control approach than traditional performance standard approaches. While there is a large body of empirical evidence for the overall effectiveness of emissions trading, relatively little attention has been paid to other unintended consequences brought by emissions trading. One important consequence is that cap-and-trade could introduce the risk of creating high-level emission concentrations in areas where emitting facilities purchase a large number of emission allowances, which may cause an unequal distribution of environmental benefits. This study will contribute to the current environmental policy literature by linking trading activity with environmental injustice concerns and empirically analyzing the causal relationship between trading activity and emissions reduction under a cap-and-trade program for the first time. To investigate the potential environmental injustice concern in cap-and-trade, this paper uses a differences-in-differences (DID) with instrumental variable method to identify the causal effect of allowance trading behaviors on emission reduction levels under the clean air interstate rule (CAIR), a cap-and-trade program targeting on the power sector in the eastern US. The major data source is the facility-year level emissions and allowance transaction data collected from US EPA air market databases. While polluting facilities from CAIR are the treatment group under our DID identification, we use non-CAIR facilities from the Acid Rain Program - another NOx control program without a trading scheme – as the control group. To isolate the causal effects of trading behaviors on emissions reduction, we also use eligibility for CAIR participation as the instrumental variable. The DID results indicate that the CAIR program was able to reduce NOx emissions from affected facilities by about 10% more than facilities who did not participate in the CAIR program. Therefore, CAIR achieves excellent overall performance in emissions reduction. The IV regression results also indicate that compared with non-CAIR facilities, purchasing emission permits still decreases a CAIR participating facility’s emissions level significantly. This result implies that even buyers under the cap-and-trade program have achieved a great amount of emissions reduction. Therefore, we conclude little evidence of environmental injustice from the CAIR program.

Keywords: air pollution, cap-and-trade, emissions trading, environmental justice

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Authors: Pantaleon Lutta, Mohamed Sedky, Mohamed Hassan

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The inability of organizations to put in place management control measures for Internet of Things (IoT) complexities persists to be a risk concern. Policy makers have been left to scamper in finding measures to combat these security and privacy concerns. IoT forensics is a cumbersome process as there is no standardization of the IoT products, no or limited historical data are stored on the devices. This paper highlights why IoT forensics is a unique adventure and brought out the legal challenges encountered in the investigation process. A quadrant model is presented to study the conflicting aspects in IoT forensics. The model analyses the effectiveness of forensic investigation process versus the admissibility of the evidence integrity; taking into account the user privacy and the providers’ compliance with the laws and regulations. Our analysis concludes that a semi-automated forensic process using machine learning, could eliminate the human factor from the profiling and surveillance processes, and hence resolves the issues of data protection (privacy and confidentiality).

Keywords: cloud forensics, data protection Laws, GDPR, IoT forensics, machine Learning

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Authors: Nadia Sghaier

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In this paper, we aim to identify the determinants of the life and non-life insurance premiums of different lines for the case of the Tunisian insurance market over a recent period from 1997 to 2019. The empirical analysis is conducted using the linear cointegration techniques in the panel data framework, which allow both long and short-run relationships. The obtained results show evidence of long-run relationship between premiums, losses, and financial variables (stock market indices and interest rate). Furthermore, we find that the short-run effect of explanatory variables differs across lines. This finding has important implications for insurance tarification and regulation.

Keywords: insurance premiums, lines, Tunisian insurance market, cointegration approach in panel data

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Authors: Iman Shabanzadeh

Abstract:

Earthquake is known as one of the most frequent natural hazards in Iran. Therefore, policy making to improve the strengthening of structures is one of the requirements of the approach to prevent and reduce the risk of the destructive effects of earthquakes. In order to choose the optimal policy in the face of earthquakes, this article tries to examine the cost of financial damages caused by earthquakes in the building sector and compare it with the costs of retrofitting. In this study, the results of adopting the scenario of "action after the earthquake" and the policy scenario of "strengthening structures before the earthquake" have been collected, calculated and finally analyzed by putting them together. Methodologically, data received from governorates and building retrofitting engineering companies have been used. The scope of the study is earthquakes occurred in the geographical area of Iran, and among them, eight earthquakes have been specifically studied: Miane, Ahar and Haris, Qator, Momor, Khorasan, Damghan and Shahroud, Gohran, Hormozgan and Ezgole. The main basis of the calculations is the data obtained from retrofitting companies regarding the cost per square meter of building retrofitting and the data of the governorate regarding the power of earthquake destruction, the realized costs for the reconstruction and construction of residential units. The estimated costs have been converted to the value of 2021 using the time value of money method to enable comparison and aggregation. The cost-benefit comparison of the two policies of action after the earthquake and retrofitting before the earthquake in the eight earthquakes investigated shows that the country has suffered five thousand billion Tomans of losses due to the lack of retrofitting of buildings against earthquakes. Based on the data of the Budget Law's of Iran, this figure was approximately twice the budget of the Ministry of Roads and Urban Development and five times the budget of the Islamic Revolution Housing Foundation in 2021. The results show that the policy of retrofitting structures before an earthquake is significantly more optimal than the competing scenario. The comparison of the two policy scenarios examined in this study shows that the policy of retrofitting buildings before an earthquake, on the one hand, prevents huge losses, and on the other hand, by increasing the number of earthquake-resistant houses, it reduces the amount of earthquake destruction. In addition to other positive effects of retrofitting, such as the reduction of mortality due to earthquake resistance of buildings and the reduction of other economic and social effects caused by earthquakes. These are things that can prove the cost-effectiveness of the policy scenario of "strengthening structures before earthquakes" in Iran.

Keywords: disaster economy, earthquake economy, cost-benefit analysis, resilience

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Authors: Chu Chen, Giorgio Gotti, Tony Kang, Michael Wolfe

Abstract:

This study examines the role of codes of ethics in reducing the extent to which managers’ act opportunistically in reporting earnings. Corporate codes of ethics, by clarifying the boundaries of ethical corporate behaviors and making relevant social norms more salient, have the potential to deter managers from engaging in opportunistic financial reporting practices. In a sample of international companies, we find that the quality of corporate codes of ethics is associated with higher earnings quality, i.e., lower discretionary accruals. Our results are confirmed for a subsample of firms more likely to be engaging in opportunistic reporting behavior, i.e., firms that just meet or beat analysts’ forecasts. Further, codes of ethics play a greater role in reducing earnings management for firms in countries with weaker investor protection mechanisms. Our results suggest that corporate codes of ethics can be a viable alternative to country-level investor protection mechanisms in curbing aggressive reporting behaviors.

Keywords: corporate ethics policy, code of ethics, business ethics, earnings discretion, accruals

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