Search results for: China's aid policy
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 5018

Search results for: China's aid policy

4388 Corporate Social Responsibility and Dividend Policy

Authors: Mohammed Benlemlih

Abstract:

Using a sample of 22,839 US firm-year observations over the 1991-2012 period, we find that high CSR firms pay more dividends than low CSR firms. The analysis of individual components of CSR provides strong support for this main finding: five of the six individual dimensions are also associated with high dividend payout. When analyzing the stability of dividend payout, our results show that socially irresponsible firms adjust dividends more rapidly than socially responsible firms do: dividend payout is more stable in high CSR firms. Additional results suggest that firms involved in two controversial activities -the military and alcohol - are associated with low dividend payouts. These findings are robust to alternative assumptions and model specifications, alternative measures of dividend, additional control, and several approaches to address endogeneity. Overall, our results are consistent with the expectation that high CSR firms may use dividend policy to manage the agency problems related to overinvestment in CSR.

Keywords: corporate social responsibility, dividend policy, Lintner model, agency theory, signaling theory, dividend stability

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4387 The Agri-Environmental Instruments in Agricultural Policy to Reduce Nitrogen Pollution

Authors: Flavio Gazzani

Abstract:

Nitrogen is an important agricultural input that is critical for the production. However, the introduction of large amounts of nitrogen into the environment has a number of undesirable impacts such as: the loss of biodiversity, eutrophication of waters and soils, drinking water pollution, acidification, greenhouse gas emissions, human health risks. It is a challenge to sustain or increase food production and at the same time reduce losses of reactive nitrogen to the environment, but there are many potential benefits associated with improving nitrogen use efficiency. Reducing nutrient losses from agriculture is crucial to the successful implementation of agricultural policy. Traditional regulatory instruments applied to implement environmental policies to reduce environmental impacts from nitrogen fertilizers, despite some successes, failed to address many environmental challenges and imposed high costs on the society to achieve environmental quality objectives. As a result, economic instruments started to be recognized for their flexibility and cost-effectiveness. The objective of the research project is to analyze the potential for increased use of market-based instruments in nitrogen control policy. The report reviews existing knowledge, bringing different studies together to assess the global nitrogen situation and the most relevant environmental management policy that aims to reduce pollution in a sustainable way without affect negatively agriculture production and food price. This analysis provides some guidance on how different market based instruments might be orchestrated in an overall policy framework to the development and assessment of sustainable nitrogen management from the economics, environmental and food security point of view.

Keywords: nitrogen emissions, chemical fertilizers, eutrophication, non-point of source pollution, dairy farm

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4386 The Micro-Activated Organic Regeneration in Rural Construction: A Case Study of Yangdun Village in Deqing County, Zhejiang Province

Authors: Chengyuan Zhu, Zhu Wang

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With the strategy of Rural Rejuvenation proposed in China, the rural has become the focus of all works today. In addition to the support of industry and policy, the rural planning and construction which is the space dependence of Rural Rejuvenation are also very crucial. Based on an analysis of the case of Yangdun Village in Deqing County, this paper summarizes village existing resources and construction status quo. It tries to illuminate the micro-activated organic renewal strategies and methods, based on ecological landscape, history context, industry development and living life requirements. It takes advantage of industrial linkage and then asks for the coordination of both spatial and industrial planning, the revival and remodeling of the rural image can be achieved through shaping the of architectural and landscape nodes as well as the activation of street space.

Keywords: rural construction, rural human settlements, micro-activation, organic renewal

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4385 Correlates of Tourism and Power Alleviation: A Case Study of Osun Osogbo

Authors: Mohood A. Bamidele, Fadairo O. Olokesunsi, Muhammed A. Yunus

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This research work focuses on tourism and poverty alleviation in Osun State, it delves in the tourism resources of the state and strategic framework that has been put in place to manage the cultural base tourism that is most prominent in the state. The major instrument used for data collection was questionnaire which was designed for the area and data collected were analyzed using statistical table and chi-square analysis. The result revealed that tourism is under development in Osun State and the tourism potential of the state is yet to be exploited, this is due to lack of appropriate policy to master the development and management of tourism resources, poor publicity, awareness, and lack of adequate basic infrastructure. The research work, therefore, recommended, that, there should be proper and appropriate policy, and that the government should take a leading step to develop tourism in Osun State by creating a workable environment to the private sector and given a substantial budgetary allocation to the tourism in the state.

Keywords: appropriate policy, poor publicity, poverty alleviation, substantial budgetary allocation

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4384 A Condition-Based Maintenance Policy for Multi-Unit Systems Subject to Deterioration

Authors: Nooshin Salari, Viliam Makis

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In this paper, we propose a condition-based maintenance policy for multi-unit systems considering the existence of economic dependency among units. We consider a system composed of N identical units, where each unit deteriorates independently. Deterioration process of each unit is modeled as a three-state continuous time homogeneous Markov chain with two working states and a failure state. The average production rate of units varies in different working states and demand rate of the system is constant. Units are inspected at equidistant time epochs, and decision regarding performing maintenance is determined by the number of units in the failure state. If the total number of units in the failure state exceeds a critical level, maintenance is initiated, where units in failed state are replaced correctively and deteriorated state units are maintained preventively. Our objective is to determine the optimal number of failed units to initiate maintenance minimizing the long run expected average cost per unit time. The problem is formulated and solved in the semi-Markov decision process (SMDP) framework. A numerical example is developed to demonstrate the proposed policy and the comparison with the corrective maintenance policy is presented.

Keywords: reliability, maintenance optimization, semi-Markov decision process, production

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4383 Kazakh Language Assessment in a New Multilingual Kazakhstan

Authors: Karlygash Adamova

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This article is focused on the KazTest as one of the most important high-stakes tests and the key tool in Kazakh language assessment. The research will also include the brief introduction to the language policy in Kazakhstan. Particularly, it is going to be changed significantly and turn from bilingualism (Kazakh, Russian) to multilingual policy (three languages - Kazakh, Russian, English). Therefore, the current status of the abovementioned languages will be described. Due to the various educational reforms in the country, the language evaluation system should also be improved and moderated. The research will present the most significant test of Kazakhstan – the KazTest, which is aimed to evaluate the Kazakh language proficiency. Assessment is an ongoing process that encompasses a wide area of knowledge upon the productive performance of the learners. Test is widely defined as a standardized or standard method of research, testing, diagnostics, verification, etc. The two most important characteristics of any test, as the main element of the assessment - validity and reliability - will also be described in this paper. Therefore, the preparation and design of the test, which is assumed to be an indicator of knowledge, and it is highly important to take into account all these properties.

Keywords: multilingualism, language assessment, testing, language policy

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4382 Application of Hydrological Model in Support of Streamflow Allocation in Arid Watersheds in Northwestern China

Authors: Chansheng He, Lanhui Zhang, Baoqing Zhang

Abstract:

Spatial heterogeneity of landscape significantly affects watershed hydrological processes, particularly in high elevation and cold mountainous watersheds such as the inland river (terminal lake) basins in Northwest China, where the upper reach mountainous areas are the main source of streamflow for the downstream agricultural oases and desert ecosystems. Thus, it is essential to take into account spatial variations of hydrological processes in streamflow allocation at the watershed scale. This paper adapts the Distributed Large Basin Runoff Model (DLBRM) to the Heihe River Watershed, the second largest inland river with a drainage area of about 128,000 km2 in Northwest China, for understanding the transfer and partitioning mechanism among the glacier and snowmelt, surface runoff, evapotranspiration, and groundwater recharge among the upper, middle, and lower reaches in the study area. Results indicate that the upper reach Qilian Mountain area is the main source of streamflow for the middle reach agricultural oasis and downstream desert areas. Large withdrawals for agricultural irrigation in the middle reach had significantly depleted river flow for the lower reach desert ecosystems. Innovative conservation and enforcement programs need to be undertaken to ensure the successful implementation of water allocation plan of delivering 0.95 x 109 m3 of water downstream annually by the State Council in the Heihe River Watershed.

Keywords: DLBRM, Northwestern China, spatial variation, water allocation

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4381 A quantitative Analysis of Impact of Potential Variables on the Energy Performance of Old and New Buildings in China

Authors: Yao Meng, Mahroo Eftekhari, Dennis Loveday

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Currently, there are two types of heating systems in Chinese residential buildings, with respect to the controllability of the heating system, one is an old heating system without any possibility of controlling room temperature and another is a new heating system that provides temperature control of individual rooms. This paper is aiming to evaluate the impact of potential variables on the energy performance of old and new buildings respectively in China, and to explore how the use of individual room temperature control would change occupants’ heating behaviour and thermal comfort in Chinese residential buildings and its impact on the building energy performance. In the study, two types of residential buildings have been chosen, the new building install personal control on the heating system, together with ‘pay for what you use’ tariffs. The old building comprised uncontrolled heating with payment based on floor area. The studies were carried out in each building, with a longitudinal monitoring of indoor air temperature, outdoor air temperature, window position. The occupants’ behaviour and thermal sensation were evaluated by questionnaires. Finally, use the simulated analytic method to identify the impact of influence variables on energy use for both types of buildings.

Keywords: residential buildings, China, design parameters, energy efficiency, simulation analytics method

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4380 Towards a Sustainable High Population Density Urban Intertextuality – Program Re-Configuration Integrated Urban Design Study in Hangzhou, China

Authors: Xuan Li, Lei Xu

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By the end of 2014, China has an urban population of 749 million, reaching the urbanization rate of 54.77%. Dense and vertical urban structure has become a common choice for China and most of the densely populated Asian countries for sustainable development. This paper focuses on the most conspicuous urban change period in China, from 2000 to 2010, during which China's population shifted the fastest from rural region to cities. On one hand, the 200 million nationwide "new citizen" along with the 456 million "old citizen" explored in the new-century city for new urban lifestyle and livable built environment; On the other hand, however, large-scale rapid urban constructions are confined to the methods of traditional two-dimensional architectural thinking. Human-oriented design and system thinking have been missing in this intricate postmodern urban condition. This phenomenon, especially the gap and spark between the solid, huge urban physical system and the rich, subtle everyday urban life, will be studied in depth: How the 20th-century high-rise residential building "spontaneously" turned into an old but expensive multi-functional high-rise complex in the 21st century city center; how 21st century new/late 20th century old public buildings with the same function integrated their different architectural forms into the new / old city center? Finally the paper studies cases in Hangzhou: 1) Function Evolve–downtown high-rise residential building “International Garden” and “Zhongshan Garden” (1999). 2) Form Compare–Hangzhou Theater (1998) vs Hangzhou Grand Theatre (2004), Hangzhou City Railway Station (1999) vs Hangzhou East Railway Station (2013). The research aims at the exploring the essence of city from the building form dispel and urban program re-configuration approach, gaining a better consideration of human behavior through compact urban design effort for improving urban intertextuality, searching for a sustainable development path in the crucial time of urban population explosion in China.

Keywords: architecture form dispel, compact urban design, urban intertextuality, urban program re-configuration

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4379 Cultural Statistics in Governance: A Comparative Analysis between the UK and Finland

Authors: Sandra Toledo

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There is an increasing tendency in governments for a more evidence-based policy-making and a stricter auditing of public spheres. Especially when budgets are tight, and taxpayers demand a bigger scrutiny over the use of the available resources, statistics and numbers appeared as an effective tool to produce data that supports investments done, as well as evaluating public policy performance. This pressure has not exempted the cultural and art fields. Finland like the rest of Nordic countries has kept its principles from the welfare state, whilst UK seems to be going towards the opposite direction, relaying more and more in private sectors and foundations, as the state folds back. The boom of the creative industries along with a managerial trend introduced by Tatcher in the UK brought, as a result, a commodification of arts within a market logic, where sponsorship and commercial viability were the keynotes. Finland on its part, in spite of following a more protectionist approach of arts, seems to be heading in a similar direction. Additionally, there is an international growing interest in the application of cultural participation studies and the comparability between countries in their results. Nonetheless, the standardization in the application of cultural surveys has not happened yet. Not only there are differences in the application of these type of surveys in terms of time and frequency, but also regarding those conducting them. Therefore, one hypothesis considered in this research is that behind the differences between countries in the application of cultural surveys, production and utilization of cultural statistics is the cultural policy model adopted by the government. In other words, the main goal of this research is to answer the following: What are the differences and similarities between Finland and the UK regarding the role cultural surveys have in cultural policy making? Along with other secondary questions such as: How does the cultural policy model followed by each country influence the role of cultural surveys in cultural policy making? and what are the differences at the local level? In order to answer these questions, strategic cultural policy documents and interviews with key informants will be used and analyzed as source data, using content analysis methods. Cultural statistics per se will not be compared, but instead their use as instruments of governing, and its relation to the cultural policy model. Aspects such as execution of cultural surveys, funding, periodicity, and use of statistics in formal reports and publications, will be studied in the written documents while in the interviews other elements such as perceptions from those involved in collecting cultural statistics or policy making, distribution of tasks and hierarchies among cultural and statistical institutions, and a general view will be the target. A limitation identified beforehand and that it is expected to encounter throughout the process is the language barrier in the case of Finland when it comes to official documents, which will be tackled by interviewing the authors of such papers and choosing key extract of them for translation.

Keywords: Finland, cultural statistics, cultural surveys, United Kingdom

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4378 Language Rights and the Challenge of National Integration: The Nigerian Experience

Authors: Odewumi Olatunde, Adegun Sunday

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Linguistic diversity is seen to complicate attempts to build a stable and cohesive political community. Hence, the challenge of integration is enormous in a multi-ethno-lingual country like Nigeria. In the same vein, justification for minority language rights claims in relation to broader political theories of justice, freedom and democracy cannot be ignored. It is in the light of the fore-going that this paper explores Nigeria’s experiments at language policy and planning(LPP) and the long drawn agitations for self-determination and linguistic freedom by the minority ethnic groups in the polity which has been exacerbated by the National Policy on Education language provisions. The paper succinctly reviews Nigeria’s LPP efforts and its attendant theater of conflicts; explores international attempts at evolving normative principles of freedom and equality for language policy and finally evaluates the position of the Nigerian LPP in the light of evolving international conventions. On this premise, it is concluded that giving a conscientious and honest implementation of the Nigerian language provisions as assessed from their face validity, the nation’s efforts could be exonerated from running afoul of any known civilized values and best practices. It is, therefore, recommended that an effectual and consistent commitment to implementation driven by a renewed political will is what is required for the nation to succeed in this direction.

Keywords: integration, rights, challenge, conventions, policy

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4377 Sustainable Land Use Policy and Monitoring Urban Land Expansion in Kabul: A Case Study of Rapid Urbanization

Authors: Osama Hidayat, Yoshitaka Kajiat

Abstract:

Kabul is a city that is highly representative of Afghanistan’s rapid urbanization process. As the city rapidly expands, there are enormous challenges to the sustainable use of land resources. This paper evaluates land use change and urban spatial expansion, from 1950 to 2016, in Kabul the capital of Afghanistan, using satellite images, field observation, and socio-economic data. The discussion covers the reduction in rural-to-urban land conversion, the delineation of urban growth boundaries, arable land reclamation and the establishment of farmland protection areas, urban upgrading, and the investigation and prosecution of illegal construction. This paper considers the aspects of urbanization and land management systems in Afghanistan. Efficient frames are outlined in Kabul for the following elements: governmental self-restraint and policy modification. The paper concludes that Kabul’s sustainable land use practices can provide a reference for other cities in Afghanistan.

Keywords: urban land expansion, urbanization, land use policy, sustainable development

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4376 Multilingualism and the Question of National Language in Nigeria

Authors: Salome Labeh

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Diverse Languages that exist in Nigeria, gave rise to the need to choose among these languages, which one or ones to be used as the National Language(s) in Nigeria. The Multilingual Nature of Nigeria has been examined, in relation to the provisional result of 1991 census conducted in Nigeria and the status of language policy in the country, which eventually led to the discovery of the fact that Hausa, Igbo, Yoruba languages have the highest speaker in terms of population, and are already made co-official languages in Nigeria, alongside with English language. Then, these languages should be considered as the National Languages, if eventually a language policy emerges in Nigeria.

Keywords: multilingual, languages, culture, Nigeria

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4375 A Study of Environmental Investment on the Sustainable Development in United States

Authors: K. Y. Chen, Y. N. Jia, H. Chua, C. W. Kan

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In United States (US), the environmental policy went through two stages that are government control period and market mechanism period. In the government control period in the 1970s, environmental problems in U.S. are treated by mandatory direct control method, including promulgation of laws, formulation of emission standards and mandatory installation of pollution treatment equipment. After the 1980s, the environmental policy in U.S. went into the second stage, in which the government strengthened the incentives and coordination effects of market. Since then, environmental governance had been partially replaced by means of economic regulation of the market. Green Tax Policy and Marketable Pollution Permits are good examples of government's economic interventions. U.S. Federal Government regards environmental industry as high-tech industry which is promoted in this period. Therefore, in the paper, we aim to analyse the effect of environmental investment on the sustainable development in the US. Acknowledgment: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: United States, public environmental investment, analysis, sustainable development

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4374 China Pakistan Economic Corridor: An Unfolding Fiasco in World Economy

Authors: Debarpita Pande

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On 22nd May 2013 Chinese Premier Li Keqiang on his visit to Pakistan tabled a proposal for connecting Kashgar in China’s Xinjiang Uygur Autonomous Region with the south-western Pakistani seaport of Gwadar via the China Pakistan Economic Corridor (hereinafter referred to as CPEC). The project, popularly termed as 'One Belt One Road' will encompass within it a connectivity component including a 3000-kilometre road, railways and oil pipeline from Kashgar to Gwadar port along with an international airport and a deep sea port. Superficially, this may look like a 'game changer' for Pakistan and other countries of South Asia but this article by doctrinal method of research will unearth some serious flaws in it, which may change the entire economic system of this region heavily affecting the socio-economic conditions of South Asia, further complicating the complete geopolitical situation of the region disturbing the world economic stability. The paper besets with a logical analyzation of the socio-economic issues arising out of this project with an emphasis on its impact on the Pakistani and Indian economy due to Chinese dominance, serious tension in international relations, security issues, arms race, political and provincial concerns. The research paper further aims to study the impact of huge burden of loan given by China towards this project where Pakistan already suffers from persistent debts in the face of declining foreign currency reserves along with that the sovereignty of Pakistan will also be at stake as the entire economy of the country will be held hostage by China. The author compares this situation with the fallout from projects in Sri Lanka, Tajikistan, and several countries of Africa, all of which are now facing huge debt risks brought by Chinese investments. The entire economic balance will be muddled by the increment in Pakistan’s demand of raw materials resulting to the import of the same from China, which will lead to exorbitant price-hike and limited availability. CPEC will also create Chinese dominance over the international movement of goods that will take place between the Atlantic and the Pacific oceans and hence jeopardising the entire economic balance of South Asia along with Middle Eastern countries like Dubai. Moreover, the paper also analyses the impact of CPEC in the context of international unrest and arms race between Pakistan and India as well as India and China due to border disputes and Chinese surveillance. The paper also examines the global change in economic dynamics in international trade that CPEC will create in the light of U.S.-China relationship. The article thus reflects the grave consequences of CPEC on the international economy, security and bilateral relations, which surpasses the positive impacts of it. The author lastly suggests for more transparency and proper diplomatic planning in the execution of this mega project, which can be a cause of economic complexity in international trade in near future.

Keywords: China, CPEC, international trade, Pakistan

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4373 Redefinition of Village Landscape with Ruins-Taking Cunwei Village in Nanping City, Fujian Province as Example

Authors: Siyu Bu, Jie Wang, Yajing Jiang

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Nowadays, villages still occupying 94.7% of the national territorial area (almost nine million square kilometers) of China. Some of them are meeting urbanization and grow as satellite; however, others are witnessing more and more citizens swarming into with nostalgia, seek enjoyment from the beautiful green countryside. In villages, new types of house come and we see billions of old houses lay unused, or even be dying at every second, which cause a lot of 'bad palaces', decadent and dangerous. In this context, there are lots of tries for gearing villages in China. This article deconstructs the traditional village house to excavate its’ landscape potential for future. By research in CunWei Village, Nanping City, Fujian Province, China, a method of reconstruction of old houses comes out: the wreckage will be a strong landscape, showing the great beauty of nature. It will be a better use of the old material as well as the space pattern. It was supposed to gain a juxtaposition of traditional village life and modern social life by offering possibilities of multiple event, replacing the bad space to attractive one by strengthen the old structures without destroy traditional patterns. Furthermore , this method acts as an exploring for building redefinition of village landscape that fit Chinese villages, using local nature resource and traditional construction logic.

Keywords: juxtaposition, replace, village, ruins

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4372 A Parking Demand Forecasting Method for Making Parking Policy in the Center of Kabul City

Authors: Roien Qiam, Shoshi Mizokami

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Parking demand in the Central Business District (CBD) has enlarged with the increase of the number of private vehicles due to rapid economic growth, lack of an efficient public transport and traffic management system. This has resulted in low mobility, poor accessibility, serious congestion, high rates of traffic accident fatalities and injuries and air pollution, mainly because people have to drive slowly around to find a vacant spot. With parking pricing and enforcement policy, considerable advancement could be found, and on-street parking spaces could be managed efficiently and effectively. To evaluate parking demand and making parking policy, it is required to understand the current parking condition and driver’s behavior, understand how drivers choose their parking type and location as well as their behavior toward finding a vacant parking spot under parking charges and search times. This study illustrates the result from an observational, revealed and stated preference surveys and experiment. Attained data shows that there is a gap between supply and demand in parking and it has maximized. For the modeling of the parking decision, a choice model was constructed based on discrete choice modeling theory and multinomial logit model estimated by using SP survey data; the model represents the choice of an alternative among different alternatives which are priced on-street, off-street, and illegal parking. Individuals choose a parking type based on their preference concerning parking charges, searching times, access times and waiting times. The parking assignment model was obtained directly from behavioral model and is used in parking simulation. The study concludes with an evaluation of parking policy.

Keywords: CBD, parking demand forecast, parking policy, parking choice model

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4371 Ata-Manobo Tribe as Stakeholders in the Making of School Improvement Plan: Basis for Policy Recommendation

Authors: Diobein C. Flores

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The populace in Municipality of Talaingod is composed of Ata-Manobo. The said lumads enrich their culture, orientation and self because the place is a hive of their tribe. In lieu, the study would analyze the participation of the Ata-Manobo in the making of school improvement plan (SIP). Thus, it recommends alternative policy options that would help strengthen their involvement. The school stakeholders-Ata Manobo representatives from students, parent-teacher association, alumni, basic sector, municipal/barangay government unit, civic/social organizations and other government various agencies are the key participants in this study. The research used descriptive design. The responses of the representatives were analyzed through the criteria involved in employing Rational Model. The technical dimension, administrative, political acceptability and economic are the criteria in revealing decision. The policy alternative option 3- recommends to formulate policy for the purpose of capacitating stakeholders or governing council members in the making of SIP was pointed out as the most preferred option. This could strengthen the participation among Ata-Manobo as stakeholders in planning. Hence, the formulation alternative policy- capacitating stakeholders in the crafting of school improvement plan is recommended. The suggested initiative would assist the Department of Education in forging consensus across neighborhoods during the making of SIP. The appropriation of the definite budget to be used during the conduct of capability building activities is also suggested. Training-workshops are identified as possible intervention to ensure that the stakeholders are equipped with necessary knowledge and skills needed in the making of SIP. Indeed, the equal opportunities for all stakeholders regardless of their life circumstances must be noted. With the belief, people must be empowered to take advantage and spearhead progress in the making of SIP.

Keywords: Ata-Manobo Tribe, stakeholders, school improvement plan, Municipality of Talaingod, Philippines

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4370 Study of the Business Ethics Based on Daimler Bribery Case in China

Authors: Yuandi Hu, Gang Yang

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In order to study the business ethics of the international enterprise, the thirteenth-largest car manufacturer and second-largest truck manufacturer in the world, Daimler AG was taken as research object. At first, Daimler AG is briefly introduced and the bribery affairs of Daimler AG in China are simply reviewed. Subsequently, the causes of the bribery are discussed in depth and the manifestations of the value conflict are analyzed in detail. Based on the analyzed results, the reasons why they bribe are investigated. Furthermore, some proposals for improving business ethics of international enterprises are put forward based on the study of Daimler bribery case.

Keywords: business ethics, Daimler AG, bribe, cultural conflict

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4369 Managerial Overconfidence, Payout Policy, and Corporate Governance: Evidence from UK Companies

Authors: Abdullah AlGhazali, Richard Fairchild, Yilmaz Guney

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We examine the effect of managerial overconfidence on UK firms’ payout policy for the period 2000 to 2012. The analysis incorporates, in addition to common firm-specific factors, a wide range of corporate governance factors and managerial characteristics that have been documented to affect the relationship between overconfidence and payout policy. Our results are robust to several estimation considerations. The findings show that the influence of overconfident CEOs on the amount of, and the propensity to pay, dividends is significant within the UK context. Specifically, we detect that there is a reduction in dividend payments in firms managed by overconfident managers compared to their non-overconfident counterparts. Moreover, we affirm that cash flows, firm size and profitability are positively correlated, while leverage, firm growth and investment are negatively correlated with the amount of and propensity to pay dividends. Interestingly, we demonstrate that firms with the potential for undervaluation reduce dividend payments. Some of the corporate governance factors are shown to motivate firms to pay more dividends while these factors seem to have no influence on the propensity to pay dividends. The results also show that in general higher overconfidence leads to more share repurchases but the lower total payout. Overall, managerial overconfidence should be considered as an important factor influencing payout policy in addition to other known factors.

Keywords: dividends, repurchases, UK firms, overconfidence, corporate governance, undervaluation

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4368 Status Check: Journey of India’s Energy Sustainability through Renewable Sources

Authors: Santosh Ghosh, Vinod Kumar Yadav, Vivekananda Mukherjee, Ishta Garg

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India, akin to the rest of the world today, is grappling with balancing act between ever increasing demand for energy and alarmingly high level of green house gas emission, which is inevitable corollary of energy production in the conventional way. Researchers and energy policy makers around the world are now focusing on renewable energy (RE) technologies to find solution to this crisis. In India various agencies at both national and state level has been set up and bestowed with responsibility of development of renewable energy technologies, viz. Ministry of New Renewable Energy (MNRE), National Vidyut Vyapar Nigam Ltd. (NVVNL), Indian Renewable Energy Development Agency Limited (IREDA) and RE Development Agencies in respective states. In the present work, the preparedness of India in terms of forming institutional and policy frame work briefly discussed. Status of implementation of RE technologies state wise and of India as a whole, critically reviewed.

Keywords: energy policy, energy sustainability, renewable energy, IREDA

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4367 Malaysia as a Case Study for Climate Policy Integration into Energy Policy

Authors: Marcus Lee

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The energy sector is the largest contributor of greenhouse gas emissions in Malaysia, which induces climate change. The climate change problem is therefore an energy sector problem. Tackling climate change issues successfully is contingent on actions taken in the energy sector. The researcher propounds that ‘Climate Policy Integration’ (CPI) into energy policy is a viable and insufficiently developed strategy in Malaysia that promotes the synergies between climate change and energy objectives, in order to achieve the targets found in both climate change and energy policies. In exploring this hypothesis, this paper presentation will focus on two particular aspects. Firstly, the meaning of CPI as an approach and as a concept will be explored. As an approach, CPI into energy policy means the integration of climate change objectives into the energy policy area. Its subject matter focuses on establishing the functional interrelations between climate change and energy objectives, by promoting their synergies and minimising their contradictions. However, its conceptual underpinnings are less than straightforward. Drawing from the ‘principle of integration’ found in international treaties and declarations such as the Stockholm Declaration 1972, the Rio Declaration 1992 and the United Nations Framework on Climate Change 1992 (‘UNFCCC’), this paper presentation will explore the contradictions in international standards on how the sustainable development tenets of environmental sustainability, social development and economic development are to be balanced and its relevance to CPI. Further, the researcher will consider whether authority may be derived from international treaties and declarations in order to argue for the prioritisation of environmental sustainability over the other sustainable development tenets through CPI. Secondly, this paper presentation will also explore the degree to which CPI into energy policy has been achieved and pursued in Malaysia. In particular, the strength of the conceptual framework with regard to CPI in Malaysian governance will be considered by assessing Malaysia’s National Policy on Climate Change (2009) (‘NPCC 2009’). The development (or the lack of) of CPI as an approach since the publication of the NPCC 2009 will also be assessed based on official government documents and policies that may have a climate change and/or energy agenda. Malaysia’s National Renewable Energy Policy and Action Plan (2010), draft National Energy Efficiency Action Plan (2014), Intended Nationally Determined Contributions (2015) in relation to the Paris Agreement, 11th Malaysia Plan (2015) and Biennial Update Report to the UNFCCC (2015) will be discussed. These documents will be assessed for the presence of CPI based on the language/drafting of the documents as well as the degree of subject matter regarding CPI expressed in the documents. Based on the analysis, the researcher will propose solutions on how to improve Malaysia’s climate change and energy governance. The theory of reflexive governance will be applied to CPI. The concluding remarks will be about whether CPI reflects reflexive governance by demonstrating how the governance process can be the object of shaping outcomes.

Keywords: climate policy integration, mainstreaming, policy coherence, Malaysian energy governance

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4366 Realizing the National Disaster Management Policy of Sri Lanka through Public Private Partnerships

Authors: K. W. A. M. Kokila, Matsui Kenichi

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Sri Lanka’s disaster management policy aims to protect lives and developments in disaster affected areas by effectively using resources for disaster risk reduction, emergency management, and community awareness. However, funding for these action programs has posed a serious challenge to the country’s economy. This paper examines the extent to which private-public partnerships (PPPs) can facilitate and expedite disaster management works. In particular, it discusses the results of the questionnaire survey among policymakers, government administrators, NGOs, and private businesses. This questionnaire was conducted in 2017. All respondents were selected based on their experience in PPP projects in the past. The survey focused on clarifying the effectiveness of past PPP projects as well as their efficiency and transparency. The respondents also provided their own opinions and suggestions to improve the future PPP projects in Sri Lanka. The questionnaire was distributed to fifteen persons. The results show that almost all respondents think that PPP projects are beneficial and important for future disaster risk management in Sri Lanka. The respondents, however, showed some reservation about effectiveness and transparency of the PPP process. This paper also discusses the results on the respondents’ perceptions about their capacity regarding human resources and management. This paper, overall, sheds light on technological, financial and human resource management practices in developed countries as well as policy and legislation provisions regarding PPP projects.

Keywords: disaster management, policy, private public partnership, projects

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4365 Green Economy and Environmental Protection Economic Policy Challenges in Georgia

Authors: Gulnaz Erkomaishvili

Abstract:

Introduction. One of the most important issues of state economic policy in the 21st century is the problem of environmental protection. The Georgian government considers the green economy as one of the most important means of sustainable economic development and takes the initiative to implement voluntary measures to promote sustainable development. In this context, it is important to promote the development of ecosystem services, clean production, environmental education and green jobs.The development of the green economy significantly reduces the inefficient use of natural resources, waste generation, emissions into the atmosphere and the discharge of untreated water into bodies of water.It is, therefore, an important instrument in the environmental orientation of sustainable development. Objectives.The aim of the paper is to analyze the current status of the green economy in Georgia and identify effective ways to improve the environmental, economic policy of sustainable development. Methodologies: This paper uses general and specific methods, in particular, analysis, synthesis, induction, deduction, scientific abstraction, comparative and statistical methods, as well as experts’ evaluation. bibliographic research of scientific works and reports of organizations was conducted; Publications of the National Statistics Office of Georgia are used to determine the regularity between analytical and statistical estimations. Also, theoretical and applied research of international organizations and scientist-economists are used. Contributions: The country should implement such an economic policy that ensures the transition to a green economy, in particular, revising water, air and waste laws, strengthening existing environmental management tools and introcing new tools (including economic tools). Perfecting the regulatory legal framework of the environmental impact assessment system, which includes the harmonization of Georgian legislation with the requirements of the European Union. To ensure the protection and rational use of Georgia's forests, emphasis should be placed on sustainable forestry, protection and restoration of forests.

Keywords: green economy, environmental protection, environmental protection economic policy, environmental protection policy challanges

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4364 Drugs, Silk Road, Bitcoins

Authors: Lali Khurtsia, Vano Tsertsvadze

Abstract:

Georgian drug policy is directed to reduce the supply of drugs. Retrospective analysis has shown that law enforcement activities have been followed by the expulsion of particular injecting drugs. The demand remains unchanged and drugs are substituted by the hand-made, even more dangerous homemade drugs entered the market. To find out expected new trends on the Georgian drug market, qualitative study was conducted with Georgian drug users to determine drug supply routes. It turned out that drug suppliers and consumers for safety reasons and to protect their anonymity, use Skype to make deals. IT in illegal drug trade is even more sophisticated in the worldwide. Trading with Bitcoins in the Darknet ensures high confidentiality of money transactions and the safe circulation of drugs. In 2014 largest Bitcoin mining enterprise in the world was built in Georgia. We argue that the use of Bitcoins and Darknet by Georgian drug consumers and suppliers will be an incentive to response adequately to the government's policy of restricting supply in order to satisfy market demand for drugs.

Keywords: bitcoin, darknet, drugs, policy

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4363 Mandate of Heaven and Serving the People in Chinese Political Rhetoric: An Evolving Discourse System across Three Thousand Years

Authors: Weixiao Wei, Chris Shei

Abstract:

This paper describes Mandate of Heaven as a source of justification for the ruling regime from ancient China approximately three thousand years ago. Initially, the kings of Shang dynasty simply nominated themselves as the sons of Heaven sent to Earth to rule the common people. As the last generation of the kings became corrupted and ruled withbrutal force and crueltywhich directly caused their destruction, the successive kings of Zhou dynasty realised the importance of virtue and the provision of goods to the people. Legitimacy of the ruling regimes became rested not entirely on random allocation of the throne by an unknown supernatural force but on a foundation comprising morality and the ability to provide goods. The latter composite was picked up by the current ruling regime, the Chinese Communist Party, and became the cornerstone of its political legitimacy, also known as ‘performance legitimacy’ where economic development accounts for the satisfaction of the people in place of election and other democratic means of providing legal-rational legitimacy. Under this circumstance, it becomes important as well for the ruling party to use political rhetoric to convince people of the good performance of the government in the economy, morality, and foreign policy. Thus, we see a lot of propaganda materials in both government policy statements and international press conference announcements. The former consists mainly of important speeches made by prominent figures in Party conferences which are not only made publicly available on the government websites but also become obligatory reading materials for university entrance examinations. The later consists of announcements about foreign policies and strategies and actions taken by the government regarding foreign affairsmade in international conferences and offered in Chinese-English bilingual versions on official websites. This documentation strategy creates an impressive image of the Chinese Communist Party that is domestically competent and international strong, taking care of the people it governs in terms of economic needs and defending the country against any foreign interference and global adversities. This political discourse system comprising reading materials fully extractable from government websites also becomes excellent repertoire for teaching and researching in contemporary Chinese language, discourse and rhetoric, Chinese culture and tradition, Chinese political ideology, and Chinese-English translation. This paper aims to provide a detailed and comprehensive description of the current Chinese political discourse system, arguing about its lineage from the rhetorical convention of Mandate of Heaven in ancient China and its current concentration on serving the people in place of election, human rights, and freedom of speech. The paper will also provide guidelines as to how this discourse system and the manifestation of official documents created under this system can become excellent research and teaching materials in applied linguistics.

Keywords: mandate of heaven, Chinese communist party, performance legitimacy, serving the people, political discourse

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4362 Metaphors Investigation between President Xi Jinping of China and Trump of Us on the Corpus-Based Approach

Authors: Jie Zheng, Ruifeng Luo

Abstract:

The United States is the world’s most developed economy with the strongest military power. China is the fastest growing country with growing comprehensive strength and its economic strength is second only to the US. However, the conflict between them is getting serious in recent years. President’s address is the representative of a nation’s ideology. The paper has built up a small sized corpus of President Xi Jinping and Trump’s speech in Davos to investigate their respective use and types of metaphors and calculate the respective percentage of each type of metaphor. The result shows President Xi Jinping employs more metaphors than Trump. The metaphors of Xi includes “building” metaphor, “plant” metaphor, “journey” metaphor, “ship” metaphor, “traffic” metaphor, “nation is a person” metaphor, “show” metaphor, etc while Trump’s comprises “war” metaphor, “building” metaphor, “journey” metaphor, “traffic” metaphor, “tax” metaphor, “book” metaphor, etc. After investigating metaphor use differences, the paper makes an analysis of the underlying ideology between the two nations. China is willing to strengthen ties with all the countries all over the world and has built a platform of development for them and itself to go to the destination of social well being while the US pays much concern to itself, emphasizing its first leading position and is also willing to help its alliances to development. The paper’s comparison of the ideology difference between the two countries will help them get a better understanding and reduce the conflict to some extent.

Keywords: metaphor; corpus; ideology; conflict

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4361 Conceptualization and Assessment of Key Competencies for Children in Preschools: A Case Study in Southwest China

Authors: Yumei Han, Naiqing Song, Xiaoping Yang, Yuping Han

Abstract:

This study explores the conceptualization of key competencies that children are expected to develop in three year preschools (age 3-6) and the assessment practices of such key competencies in China. Assessment of children development has been put into the central place of early childhood education quality evaluation system in China. In the context of students key competencies development centered education reform in China, defining and selecting key competencies of children in preschools are of great significance in that they would lay a solid foundation for children’s lifelong learning path, and they would lead to curriculum and instruction reform, teacher development reform as well as quality evaluation reform in the early childhood education area. Based on sense making theory and framework, this study adopted multiple stakeholders’ (early childhood educators, parents, evaluation administrators, scholars in the early childhood education field) perspectives and grass root voices to conceptualize and operationalize key competencies for children in preschools in Southwest China. On the ground of children development theories, Chinese and international literature related to children development and key competencies, and key competencies frameworks by UNESCO, OECD and other nations, the authors designed a two-phase sequential mixed method study to address three main questions: (a) How is early childhood key competency defined or labeled from literature and from different stakeholders’ views? (b) Based on the definitions explicated in the literature and the surveys on different stakeholders, what domains and components are regarded to constitute the key competency framework of children in three-year preschools in China? (c) How have early childhood key competencies been assessed and measured, and how such assessment and measurement contribute to enhancing early childhood development quality? On the first phase, a series of focus group surveys were conducted among different types of stakeholders around the research questions. Moreover, on the second phase, based on the coding of the participants’ answers, together with literature synthesis findings, a questionnaire survey was designed and conducted to select most commonly expected components of preschool children’s key competencies. Semi-structured open questions were also included in the questionnaire for the participants to add on competencies beyond the checklist. Rudimentary findings show agreeable concerns on the significance and necessity of conceptualization and assessment of key competencies for children in preschools, and a key competencies framework composed of 7 domains and 25 indicators was constructed. Meanwhile, the findings also show issues in the current assessment practices of children’s competencies, such as lack of effective assessment tools, lack of teacher capacity in applying the tools to evaluating children and advancing children development accordingly. Finally, the authors put forth suggestions and implications for China and international communities in terms of restructuring early childhood key competencies framework, and promoting child development centered reform in early childhood education quality evaluation and development.

Keywords: assessment, conceptualization, early childhood education quality in China, key competencies

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4360 The Evolving Changes of Religious Behavior: an Exploratory Study on Guanyin Worship of Contemporary Chinese Societies

Authors: Judith Sue Hwa Joo

Abstract:

Guanyin (Avalokiteśvara in Sanskrit), the Bodhisattva of Mercy and Compassion, is the most widely worshipped Buddhist Divinity in Chinese societies and is also believed by more than half of Asian populations across various countries. The most overwhelming reason for the popularity of Guanyin in Chinese societies is, according to the Lotus Sutra, that Guanyin would apperceive voices of those suffering from immense afflictions and troubles, and liberate them upon crying for his/her holy name with wholeheartedness. Its pervasive social influence has spanned more than two thousand years and is still deeply affecting the lives of most Chinese people. This study aimed to investigate whether Guanyin Worship has evolved and changed in modern Chinese societies across the Taiwan Strait. Taiwan and China, albeit having the same language and culture, have been territorially divided and governed by two different political regimes for over 70 years. It would be scientifically intriguing to unveil any substantial changes in religious behaviors in the context of Guanyin Worship. A comprehensive anonymous questionnaire survey in Chinese communities was conducted from October 2017 to May 2019 across various countries, mostly in China, Taiwan, and Hong Kong areas. Since the religious survey is officially prohibited in China, the study was difficult and could only be exercised by means of snowball sampling. Demographic data (age, sex, education, religious belief) were registered and Guanyin’s salvation functions under various confronting situations were investigated. Psychological dimensions of religious belief in Guanyin were probed in terms of the worship experience, the willingness of veneration, and egoistic or altruistic ideations. A literature review on documented functional attributes was carried out in parallel for comparison analyses with traditional roles. Effective 1123 out of 1139 samples were obtained. Statistical analysis revealed that Guanyin Worship is still commonly practiced and deeply rooted in the hearts of all Chinese people regardless of gender, age, education, and residential area, even though they may not enshrine Guanyin at home nowadays. The conventional roles of Guanyin Bodhisattva are still valid and best satisfy the real interests of lifestyles in modern times. When comparing the traditional Buddhist Sutra and the documented literature, the divine power of modern Guanyin has notably empowered to recover, protect and transform fetal and infant spirits due to the sexual liberation, increased abortion rate, gender awakening and enhanced female autonomy in the reproductive decision. However, the One-Child policy may have critically impacted the trajectory of Guanyin Worship so that people in China prevail over those in Taiwan praying for aborted lives or premature deaths. Furthermore, particularly in Hong Kong and Macao, Guanyin not only serves as the sea guardian for the fishermen but also additional services a new function as the God of Wealth. The divine powers and salvation functions of Guanyin are indeed evolving and expanding to comply with the modern psychosocial, cultural and societal needs. This study sheds light on the modernization process of the two-thousand-year-old Guanyin Worship of contemporary Chinese societies.

Keywords: Buddhism, Guanyin, religious behavior, salvation function

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4359 Preference and Perspective for Gift Over-packaging Solution: A Case Study of Consumers in Shanghai, China

Authors: Heping Wang

Abstract:

Social interaction has increased as a result of rapid economic expansion. Particularly in China, gift exchanges have developed into a social tradition of showing gratitude. Most gifts, on the other hand, are lavishly presented or overpacked to impress or demonstrate respect to the gift receiver. Overpackaging wastes enormous resources and produces a lot of municipal solid waste (MSW), which can seriously harm the environment if it is not handled properly. The purpose of this study is to investigate consumers' perceptions, preferences, and perspectives regarding gifts overpackaging in order to identify potential solutions for reducing gifts overpackaging to achieve sustainable packaging objectives. The research was conducted by means of an online survey focusing on residents in Shanghai, China, and the data was quantitatively analyzed by SPSS software. According to research, consumers' perception of excessive packaging is approximately 3.5 points out of 5, and this perception has a significant impact on consumers' behavioral intentions; The preferences of givers and receivers for gift packaging are significantly different in three aspects; Customers prefer incentives for eco-packaging when it comes to measures to reduce gift overpackaging. Finally, the study also identifies suitable gift packaging options for customers.

Keywords: gift packaging, consumer perception, consumer preference, consumer perspective, overpackaging, solutions

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