Search results for: European central bank

Authors: Godwin Chigozie Okpara, Eugene Iheanacho

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This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy.

Keywords: market capitalization ratio, turnover ratio, liquidity, unit root test, cointegration

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Authors: Surendra Mund

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At the beginning, the physical entity force was defined mathematically by Sir Isaac Newton in his Principia Mathematica as F ⃗=(dp ⃗)/dt in form of his second law of motion. Newton also defines his Universal law of Gravitational force exist in same outstanding book, but at the end of 20th century and beginning of 21st century, we have tried a lot to specify and unify four or five Fundamental forces or Interaction exist in universe, but we failed every time. Usually, Gravity creates problems in this unification every single time, but in my previous papers and presentations, I defined and derived Field and force equations for Gravitational like Interactions for each and every kind of central systems. This force is named as Variational Force by me, and this force is generated by variation in the scalar field density around the body. In this particular paper, at first, I am specifying which type of Interactions are Fundamental in Universal sense (or in all type of central systems or bodies predicted by my N-time Inflationary Model of Universe) and then unify them in Universal framework (defined and derived by me as Universal Mechanics in a separate paper) as well. This will also be valid in Universal dynamical sense which includes inflations and deflations of universe, central system relativity, Universal relativity, ϕ-ψ transformation and transformation of spin, physical perception principle, Generalized Fundamental Dynamical Law and many other important Generalized Principles of Generalized Quantum Mechanics (GQM) and Central System Theory (CST). So, In this article, at first, I am Generalizing some Fundamental Principles, and then Unifying Variational Forces (General form of Gravitation like Interactions) and Flow Generated Force (General form of EM like Interactions), and then Unify all Fundamental Forces by specifying Weak and Strong Interactions in form of more basic terms - Variational, Flow Generated and Transformational Interactions.

Keywords: Central System Force, Disturbance Force, Flow Generated Forces, Generalized Nuclear Force, Generalized Weak Interactions, Generalized EM-Like Interactions, Imbalance Force, Spin Generated Forces, Transformation Generated Force, Unified Force, Universal Mechanics, Uniform And Non-Uniform Variational Interactions, Variational Interactions

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Authors: Sukant Mehra, Parth Gupta, Varun Arora, Sarvoday Singh, Amit Kohli

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The study was emphasised on dry sliding wear behavior of AISI 1042 steel. Dry sliding wear tests were performed using pin-on-disk apparatus under normal loads of 5, 7.5 and 10 kgf and at speeds 600, 750 and 900 rpm. Response surface methodology (RSM) was utilized for finding optimal values of process parameter and experiment was based on rotatable, central composite design (CCD). It was found that the wear followed linear pattern with the load and rpm. The obtained optimal process parameters have been predicted and verified by confirmation experiments.

Keywords: central composite design (CCD), optimization, response surface methodology (RSM), wear

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Authors: Sajida Rasheed, Imran Hashmi, Luiza Campos, Qizhi Zhou, Kim Keu

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A quadratic model (p ˂ 0.0001) was developed by using central composite design of 50 experimental runs (42 non-center + 8 center points) to assess efficiency of background chlorine residuals in combating accidental microbial episode in a prototype distribution network (DN) (rig). A known amount of background chlorine residuals were maintained in DN and a required number of bacteria, Escherichia coli K-12 strain were introduced by an injection port in the pipe loop system. Samples were taken at various time intervals at different pipe lengths. Spread plate count was performed to count bacterial number. The model developed was significant. With microbial concentration and time (p ˂ 0.0001), pipe length (p ˂ 0.022), background chlorine residuals (p ˂ 0.07) and time^2 (p ˂ 0.09) as significant factors. The ramp function of variables shows that at the microbial count of 10^6, at 0.76 L/min, and pipe length of 133 meters, a background residual chlorine 0.16 mg/L was enough for complete inactivation of microbial episode in approximately 18 minutes.

Keywords: central composite design (CCD), distribution network, Escherichia coli, residual chlorine

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Authors: B. Tirpude, V. Surwade, P. Murkey, P. Wankhade, S. Meena

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There is no statistical data to establish variation in epiphyseal fusion in girls in central India population. This significant oversight can lead to exclusion of persons of interest in a forensic investigation. Epiphyseal fusion of proximal end of humerus in eighty females were analyzed on radiological basis to assess the range of variation of epiphyseal fusion at each age. In the study, the X ray films of the subjects were divided into three groups on the basis of degree of fusion. Firstly, those which were showing No Epiphyseal Fusion (N), secondly those showing Partial Union (PC), and thirdly those showing Complete Fusion (C). Observations made were compared with the previous studies.

Keywords: epiphyseal union, shoulder joint, proximal end of humerus

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Authors: S. Fantin

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This study is the result of the legal research on cybersecurity and data protection within the EUNITY (Cybersecurity and Privacy Dialogue between Europe and Japan) project, aimed at fostering the dialogue between the European Union and Japan. Based on the research undertaken therein, the author offers an outline of the main asymmetries in the laws governing such fields in the two regions. The research is a comparative analysis of the two legal frameworks, taking into account specific provisions, ratio legis and policy initiatives. Recent doctrine was taken into account, too, as well as empirical interviews with EU and Japanese stakeholders and project partners. With respect to the protection of personal data, the European Union has recently reformed its legal framework with a package which includes a regulation (General Data Protection Regulation), and a directive (Directive 680 on personal data processing in the law enforcement domain). In turn, the Japanese law under scrutiny for this study has been the Act on Protection of Personal Information. Based on a comparative analysis, some asymmetries arise. The main ones refer to the definition of personal information and the scope of the two frameworks. Furthermore, the rights of the data subjects are differently articulated in the two regions, while the nature of sanctions take two opposite approaches. Regarding the cybersecurity framework, the situation looks similarly misaligned. Japan’s main text of reference is the Basic Cybersecurity Act, while the European Union has a more fragmented legal structure (to name a few, Network and Information Security Directive, Critical Infrastructure Directive and Directive on the Attacks at Information Systems). On an relevant note, unlike a more industry-oriented European approach, the concept of cyber hygiene seems to be neatly embedded in the Japanese legal framework, with a number of provisions that alleviate operators’ liability by turning such a burden into a set of recommendations to be primarily observed by citizens. With respect to the reasons to fill such normative gaps, these are mostly grounded on three basis. Firstly, the cross-border nature of cybercrime brings to consider both magnitude of the issue and its regulatory stance globally. Secondly, empirical findings from the EUNITY project showed how recent data breaches and cyber-attacks had shared implications between Europe and Japan. Thirdly, the geopolitical context is currently going through the direction of bringing the two regions to significant agreements from a trade standpoint, but also from a data protection perspective (with an imminent signature by both parts of a so-called ‘Adequacy Decision’). The research conducted in this study reveals two asymmetric legal frameworks on cyber security and data protection. With a view to the future challenges presented by the strengthening of the collaboration between the two regions and the trans-national fashion of cybercrime, it is urged that solutions are found to fill in such gaps, in order to allow European Union and Japan to wisely increment their partnership.

Keywords: cybersecurity, data protection, European Union, Japan

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Authors: Albert T. Akume, Yahya M. Abdullahi

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The impact of poverty on individual and society is grave, hence the efforts by the government to eradicate or alleviate. In Nigeria the various efforts to reduce rural poverty by empowering them and making the process of their development self-sustaining have ended dismally. That notwithstanding, government determination to conquer poverty has not diminish as in the early 1990s the government with financial collaboration from the World Bank and African Development Bank introduced the fadama project. It is against this backdrop that this paper uses the documentary and analytical research methods to examine the implication the fadama development project has for community capacity development and human security in Nigeria. From the analysis it was discovered the fadama project improved household income of fadama farmers, community empowerment, participatory development planning and support for demand driven productive investment in farm and non-farm activities including community infrastructures. Despite this impressive result the fadama project is challenged by conflict especially in northern Nigeria and late delivery of necessary farm consumables that aid improved productivity. It was therefore recommended that the government should strengthen her various state security institutions to proactively mitigate conflicts and to ensure that farm consumables and other support services reach farmers timely.

Keywords: capacity development, empowerment, fadama, human security, poverty reduction, theory of change, sustainable development

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Authors: Nazim Habibov, Alena Auchynnikava, Lida Fan

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The exploration of the relationship between social trust and the support of the welfare system in transitional countries has attracted growing interests in recent decades. This study estimates the effects of interpersonal and institutional trust on the support of the welfare system in 27 countries in Eastern Europe the former Soviet Union. We estimate the data sets from the Life-in-Transition Survey 2010 and 2016 with binomial regression models. The results indicate that both interpersonal and institutional trust have positive effects on the support for the welfare system in all the three areas under investigation: helping the needy, public healthcare and public education, both in the less developed countries of the former Soviet Union and in the more developed Eastern European countries. Furthermore, the positive effects of interpersonal and institutional trust on support for helping the needy, public healthcare and public education were found to grow over time. In conclusion, this study confirms that interpersonal and institutional trusts have positive effects for the public support of the welfare system in these transitional countries under investigation, regardless of their level of development.

Keywords: central and eastern Europe, former Soviet union, international social welfare policy, comparative social welfare policy

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Authors: V. Santamarina Campos, M. de Miguel Molina, B. de Miguel Molina, M. Á. Carabal Montagud

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With this contribution, we want to show a successful example of the application of the Design Thinking methodology, in the European project 'Technology transfer of Remotely Piloted Aircraft Systems (RPAS) for the creative industry'. The use of this methodology has allowed us to design and build a drone, based on the real needs of prospective users. It has demonstrated that this is a powerful tool for generating innovative ideas in the field of robotics, by focusing its effectiveness on understanding and solving real user needs. In this way, with the support of an interdisciplinary team, comprised of creatives, engineers and economists, together with the collaboration of prospective users from three European countries, a non-linear work dynamic has been created. This teamwork has generated a sense of appreciation towards the creative industries, through continuously adaptive, inventive, and playful collaboration and communication, which has facilitated the development of prototypes. These have been designed to enable filming and photography in interior spaces, within 13 sectors of European creative industries: Advertising, Architecture, Fashion, Film, Antiques and Museums, Music, Photography, Televison, Performing Arts, Publishing, Arts and Crafts, Design and Software. Furthermore, it has married the real needs of the creative industries, with what is technologically and commercially viable. As a result, a product of great value has been obtained, which offers new business opportunities for small companies across this sector.

Keywords: design thinking, design for effectiveness, methodology, active toolkit, storyboards, PAR, focus group, innovation, RPAS, indoor drone, aerial film, creative industry, end users, stakeholder

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Authors: Shazwanis Shukri

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The Mediterranean Sea, at the crossroads of three continents has always been the focus of pan-European and worldwide attention. Over the past decade, the Mediterranean Sea has become a hotbed for irregular migration particularly from the African continent toward the Europe. Among the major transit routes in the Mediterranean Sea include the Strait of Gibraltar, Canary Island and island of Lampedusa. In recent years, Mediterranean Sea has witnessed significant numbers of accidents and shipwrecks involving the irregular migrants and refugees trying to reach Europe via the sea. The shipwrecks and traffickers exploitation of migrants draw most of the attention particularly for the European Union (EU). This incident has been a wakeup call for the EU and become the top political agenda in the EU policy to tackle irregular migration and human smuggling at sea. EU has repeatedly addressed irregular migration as one of the threats the EU and its citizens may be confronted with and therefore immediate measures are crucial to tackle the crisis. In light of this, various initiatives have been adopted by the EU to strengthen external border control and restrict access to irregular migrants, notably through the enforcement of Frontex and Eunavfor Med. This paper analyses current development of counter-migration operations by the EU in response to migration crisis in the Mediterranean Sea. The analysis is threefold. First, this study examines the patterns and trends of irregular migration’s movements from recent perspective. Second, this study concentrates on the evolution of the EU operations that are in place in the Mediterranean Sea, notably by Frontex and Eunavfor Med to curb the influx of irregular migrants to the European countries, including, among others, Greece and Italy. Third, this study investigates the EU approaches to fight against the proliferation of human trafficking networks at sea. This study is essential to determine the roles of the EU in tackling migration crisis and human trafficking in the Mediterranean Sea and the effectiveness of their counter-migration operations to reduce the number of irregular migrants travelling via the sea. Elite interviews and document analysis were used as a methodology in this study. The study discovers that the EU operations have successfully contributed to reduce the numbers of irregular migrant’s arrival to Europe. The study also shows that the operations were effective to disrupt smugglers business models particularly from Libya. This study provides essential understanding about the roles of the EU not limited to tackle the migration crisis and disrupt trafficking networks, but also pledged to prevent further loss of lives at sea.

Keywords: European union, frontex, irregular migration, Mediterranean sea

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Authors: Laura Mion

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The implementation of quality management systems in higher education in different countries is determined by national regulatory choices and supranational indications (such as the European Standard Guidelines for Quality Assurance). The effective functioning and transformative capacity of these quality management systems largely depend on the organizational context in which they are applied and, more specifically, on the culture of quality developed in single universities or in single countries. The University's concept of quality culture integrates the structural dimension of QA (quality management manuals, process definitions, tools) with the value dimension of an organization (principles, skills, and attitudes). Within the EHEA (European Higher Education Area), countries such as Portugal, the Netherlands, the UK, and Norway demonstrate a greater integration of QA principles in the various organizational levels and areas of competence of university institutions or have greater experience in implementation or scientific and political debate on the matter. Therefore, the study, through an integrative literature review, of the quality management systems of these countries is aimed at determining a framework of the culture of quality, helpful in defining the elements which, both in structural-organizational terms and in terms of values and skills and attitudes, have proved to be factors of success in the effective implementation of quality assurance systems in universities and in the countries considered in the research. In order for a QA system to effectively aim for continuous improvement in a complex and dynamic context such as the university one, it must embrace a holistic vision of quality from an integrative perspective, focusing on the objective of transforming the reality being evaluated.

Keywords: higher education, quality assurance, quality culture, Portugal, Norway, Netherlands, United Kingdom

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Authors: Sophia Anastasiou, Cosmas Nathanailides, Fotini Kakali, Kostas Karipoglou

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Wild fish are considered as testier and in fish restaurants are offered at twice the price of farmed fish. Several chemical and structural differences can affect the consumer's attitudes for farmed fish. The structure and chemical composition of fish muscle is also important for the performance of farmed fish during handling, storage and processing. In the present work we present the chemical and sensory parameters which are used as indicators of fish flesh quality and we investigated the perceptions of consumers for farmed sea bass and the organoleptic differences between samples of wild and farmed sea bass. A questionnaire was distributed to a group of various ages that were regular consumers of sea bass. The questionnaire included a survey on the perceptions on taste and appearance differences between wild and farmed sea bass. A significant percentage (>40%) of the participants stated their perception of superior taste of wild sea bass versus the farmed fish. The participants took part in an organoleptic assessment of wild and farmed sea bass prepared and cooked by a local fish restaurant. Portions were evaluated for intensity of sensorial attributes from 1 (low intensity) to 5 (high intensity). The results indicate that contrary to the assessor's perception, farmed sea bass scored better in al organoleptic parameters assessed with marked superiority in texture and taste over the wild sea bass. This research has been co-financed by the European Union (European Social Fund – ESF) and Greek national funds through the Operational Program "Education and Lifelong Learning" of the National Strategic Reference Framework (NSRF) - Research Funding Program: ARCHIMEDES III. Investing in knowledge society through the European Social Fund.

Keywords: fish marketing, farmed fish, seafood quality, wild fish

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Authors: Dorsa Bakhshandehgeyazdi

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This article tries to comprehend the change of Turkish common military relations in an analogical viewpoint. The investigation is taking into account two criteria: institutional / legitimate systems and political oversight of the military's self-sufficiency. Examination of European furthermore, Middle Eastern common military relations models to the Turkish ideal model discloses grave contrasts in the middle of Turkish and Middle Eastern common military relations. The Turkish model in change for not less than 10 years is closer to the European show in both lawful and political perspectives. However, the article underscores that Turkish common military relations are still in change and despite the fact that the EU increase procedure has continuously democratized the legitimate arrangement of the nation, law based combining obliges further advances in the political area. A the result, stabilization in Turkey depends not just on withdrawing of the military from the political domain, additionally on the best possible civilization of the administration in hypothesis and practice.

Keywords: Turkish common military, institutional, legitimate systems, political oversight, middle Eastern common military

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Authors: Yi-De Liu

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The aim of this paper is to discuss how the construct of networking and social capital can be used to understand the effect events can have on the cultural sector. Based on case study, this research sought the views of those working in the cultural sector on Liverpool’s year as the European Capital of Culture (ECOC). Methodologically, this study involves literature review to prompt theoretical sensitivity, the collection of primary data via online survey (n= 42) and follow-up telephone interviews (n= 8) to explore the emerging findings in more detail. The findings point to a number of ways in which the ECOC constitutes a boost for networking and its effects on city’s cultural sector, including organisational learning, aspiration and leadership. The contributions of this study are two-fold: (1) Evaluating the long-term effects on network formation in the cultural sector following major event; (2) conceptualising the impact assessment of organisational social capital for future ECOC or similar events.

Keywords: network, social capital, cultural impact, european capital of culture

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Authors: Muhammad Sheraz, Vasile Preda, Silvia Dedu

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Concepts of econophysics are usually used to solve problems related to uncertainty and nonlinear dynamics. In the theory of option pricing the risk neutral probabilities play very important role. The application of entropy in finance can be regarded as the extension of both information entropy and the probability entropy. It can be an important tool in various financial methods such as measure of risk, portfolio selection, option pricing and asset pricing. Gulko applied Entropy Pricing Theory (EPT) for pricing stock options and introduced an alternative framework of Black-Scholes model for pricing European stock option. In this article, we present solutions to maximum entropy problems based on Tsallis, Weighted-Tsallis, Kaniadakis, Weighted-Kaniadakies entropies, to obtain risk-neutral densities. We have also obtained the value of European call and put in this framework.

Keywords: option pricing, Black-Scholes model, Tsallis entropy, Kaniadakis entropy, weighted entropy, risk-neutral density

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Authors: Kevin R. Collins Sr.

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In South Central Los Angeles, Black people have endured various forms of trauma that spans across generations. This includes the horrors of slavery and the aftermaths of the Jim Crow Laws, institutionalized racism, and legislative segregation, just to name a few. The individuals born from the 1900’s until today have continued to transmit the traumas experienced across generations. Parents unconsciously transmit the hidden trauma, and the children take these experiences and apply it to the society they live in. Although there are some who attempt to break the cycle of transmitted trauma, the remninsce still remain and play a huge role in how they interact with others. The attempt of this discussion is to bring these traumatic experiences to the surface and attack them head on. It is important that we do this to allow not only the suffering individuals but the suffering society to heal. As a society, looking at the humane side of it and attempting to stop the racial injustice placed on black people to relieve them of the stress that some. If not all,, endure in this great United States of America. Changing the behavior as a country to create an improved since of common unity within. If we solve our own racial and social issues within this country, maybe we can solve these same issues that have been the footstool to the many wars we see around the world. Thus, breaking the cycle of inherited intergenerational trauma.

Keywords: intergenerational trauma, inherited trauma, transmission of trauma, blacks in South central LA, black trauma in America

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Authors: Eva Wagner, Lucely Vargas

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Corporate Social Responsibility (CSR) plays an important role in (large-scale) enterprises’ business strategy in developed and emerging countries. This article approaches CSR in international comparison by examining the CSR reporting of 116 leading companies in Austria, Germany, Colombia and Chile from 2006 to 2010. We have used an independently developed scoring model which analyzes reported CSR-activities using seven dimensions to efficiently assess CSR. The study reveals that there are significant differences in CSR-commitment among countries and regions: German companies, as expected, lead most of the investigated CSR dimensions revealing stronger commitment to CSR than their Austrian, Colombian and Chilean counterparts. Even if Latin American companies lag behind their European counterparts, they exhibit high CSR-performance in the social dimension: corporate giving and philanthropic activities are firmly anchored in the tradition of Latin American companies. This indicates that particular CSR-emphases reflect the political and social circumstances of each individual country.

Keywords: corporate social responsibility, corporate social performance, international comparison

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Authors: Hisham Mortada

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For thousands of years mud houses have represented the practical wisdom and spirituality of people, particularly those of desert regions, who learned how to use local materials to build homes that fitted the environmental and cultural conditions which they lived in. As a case study, the central region of Saudi Arabia exhibits a tradition of earth architecture that is unique in style, culture and sustainability. Aiming to contribute towards the local debate of the suitability of the traditional mud architecture for today’s lifestyle of Saudis, this paper explores the sustainable nature of the traditional adobe architecture of this hot arid region from environmental, social and technical points of view.

Keywords: desert architecture, alternative materials, Saudi Arabia, arid climate, green architecture

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Authors: Louise Reyntjens

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In response to Islamic-inspired terrorism and the growing trend of foreign fighters, European governments are increasingly relying on the deprivation of citizenship as a security tool. This development fits within a broader securitization of immigration, where the terrorist threat is perceived as emanating from abroad. As a result, immigration law became more and more ‘securitized’. The European migration crisis has reinforced this trend. This research evaluates the deprivation of citizenship from a human rights perspective. For this, the author selected four European countries for a comparative study: Belgium, France, the United Kingdom and Sweden. All these countries face similar social and security issues, vitalizing (the debate on) deprivation of citizenship as a counterterrorism tool. Yet, they adopt a very different approach on this: The United Kingdom positions itself on the repressive side of the spectrum. Sweden on the other hand, also ‘securitized’ its immigration policy after the recent terrorist hit in Stockholm but remains on the tolerant side of the spectrum. Belgium and France are situated in between. This contribution evaluates the deprivation of citizenship in Belgium. Belgian law has provided the possibility to strip someone of their Belgian citizenship since 1919. However, the provision long remained a dead letter. The 2015 Charlie Hebdo attacks in Paris sparked a series of legislative changes, elevating the deprivation measure to a key security tool in Belgian law. Yet, the measure raises profound human rights issues. Firstly, it infringes the right to private and family life. As provided by Article 8 (2) European Court of Human Right (ECHR), this right can be limited if necessary for national security and public safety. Serious questions can however be raised about the necessity for the national security of depriving an individual of its citizenship. Behavior giving rise to this measure will generally be governed by criminal law. From a security perspective, criminal detention will thus already provide in removing the individual from society. Moreover, simply stripping an individual of its citizenship and deporting them constitutes a failure of criminal law’s responsibility to prosecute criminal behavior. Deprivation of citizenship is also discriminatory, because it differentiates, without a legitimate reason, between those liable to deprivation and those who are not. It thereby installs a secondary class of citizens, violating the European Court of Human Right’s principle that no distinction can be tolerated between children on the basis of the status of their parents. If followed by expulsion, deprivation also seriously jeopardizes the right to life and prohibition of torture. This contribution explores the human rights consequences of citizenship deprivation as a security tool in Belgium. It also offers a critical view on its efficacy for protecting national security.

Keywords: Belgium, counterterrorism strategies, deprivation of citizenship, human rights, immigration law

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Authors: Khondokar Farid Ahmmed, Robin Bown

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It is widely recognized that the formal financing of Small and Medium Size Enterprises (SMEs) by Private Commercial Banks (PCBs) is restricted. Due to changing financial market competition, SMEs are now important customers to PCBs in the member countries of the Asian Development Bank (ADB). Various initiatives in enhancing the efficiency of risk assessment of PCBs have failed in increasing financing accessibility in the traditional financing system where information asymmetry is a key constraint. In this circumstance, PCBs need to undertake a holistic approach. Holistic approach refers to methods that attempt to fundamentally change established traditions. To undertake holistic approach, this study intends to find the entire established financing culture between PCBs and SMEs in a new lens beyond the tradition on the basis of two basic questions: “What is the traditional lending culture between PCBs and SMEs” and “What could be potential role of PCBs to develop that culture where focusing on SME financing to PCBs". This study considered formal SME financing in Bangladesh by focusing on SMEs applying for their first loan. Bangladesh is a member country of ADB. The data collection method is semi-structured and we utilized face-to-face interviews with in-depth branch managers, higher officials and owner-managers of SME customers of PCBs and higher officials of SME Foundation and the Bangladesh central bank. Discourse analysis method was used for data analysis on the frame of thematic discussion fully based on participants’ views. The research found that branch managers and loan officers have a high level of power in assessing and financing decision-making. There is a changing attitude in PCB sector in requiring flexible collateral assets. Branch managers (Loan Officers) consider value of business prospect of owner-mangers as complementary of collateral assets. However, the study found the assessment process of business prospect is entirely unstructured and linked with socio-cultural settings that does not support PCBs’ changing manner in terms of collateral requirement. The study redefined and classified collateral assets to include all financing constructs in a structure. The degree of value of the collateral assets determines the degree of business prospects. This study suggested applying an outside classroom-learning paradigm such as “knowledge tour” to enhance the value of the kinds of collateral assets. This is the scope of PCBs in increasing SMEs’ financing eligibility in win-win basis. The findings and proposition could be effective in other ADB member countries and audiences in the field.

Keywords: CCA, financing, information asymmetry, PCA, PCB, financing

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Authors: Jakob Renko, Deja Praprotnik, Kristina Martinovič, Igor Karnjuš

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Introduction: Catheter-related bloodstream infections are a major burden for healthcare and patients. Although infections of this type cannot be completely avoided, they can be reduced by taking preventive measures. The aim of this study is to review and analyze the existing literature on preventive interventions to prevent central venous catheters (CVC) infections. Methods: A systematic literature review was carried out. The international databases CINAHL, Medline, PubMed, and Web of Science were searched using the search strategy: "catheter-related infections" AND "intensive care units" AND "prevention" AND "central venous catheter." Articles that met the inclusion and exclusion criteria were included in the study. The literature search flow is illustrated by the PRISMA diagram. The descriptive research method was used to analyze the data. Results: Out of 554 search results, 22 surveys were included in the final analysis. We identified seven relevant preventive measures to prevent CVC infections: washing the whole body with chlorhexidine gluconate (CHG) solution, disinfecting the CVC entry site with CHG solution, use of CHG or silver dressings, alcohol protective caps, CVC care education, selecting appropriate catheter and multicomponent care bundles. Discussion and conclusions: Both single interventions and multicomponent care bundles have been shown to be currently effective measures to prevent CVC infections in adult patients in the ICU. None of the measures identified stood out in terms of their effectiveness. Prevention work to reduce CVC infections in the ICU is a complex process that requires the simultaneous consideration of several factors.

Keywords: central venous access, critically ill patients, hospital-acquired complications, prevention

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Authors: Danijela Vranješ, Nataša Vukajlović

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Turning to learner-centered teaching instead of the teacher-centered approach brought a whole new perspective into the process of teaching and learning and set a new goal for improving the educational process itself. However, recently a tremendous decline in students’ performance on various standardized tests can be observed, above all on the PISA-test. The learner-centeredness on its own is not enough anymore: the students’ ability to think is deteriorating. Especially in foreign language learning, one can encounter a lot of learning by heart: whether it is grammar or vocabulary, teachers often seem to judge the students’ success merely on how well they can recall a specific word, phrase, or grammar rule, but they rarely aim to foster their ability to think. Convinced that foreign language teaching can do both, this research aims to discover how two different approaches to teaching foreign language foster the students’ ability to think as well as to what degree they help students get to the state-determined level of foreign language at the end of the semester as defined in the Common European Framework. For this purpose, two different curricula were developed: one is a traditional, learner-centered foreign language curriculum that aims at teaching the four competences as defined in the Common European Framework and serves as a control variable, whereas the second one has been enriched with various thinking routines and aims at teaching the foreign language as a means to communicate ideas and thoughts rather than reducing it to the four competences. Moreover, two types of tests were created for each approach, each based on the content taught during the semester. One aims to test the students’ competences as defined in the CER, and the other aims to test the ability of students to draw on the knowledge gained and come to their own conclusions based on the content taught during the semester. As it is an ongoing study, the results are yet to be interpreted.

Keywords: common european framework of reference, foreign language learning, foreign language teaching, testing and assignment

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Authors: Adel M. Qatawneh

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This paper aimed to determine the importance of knowledge innovation for external audit on anti-corruption in the entire Jordanian bank companies are listed in Amman Stock Exchange (ASE). The study importance arises from the need to recognize the Knowledge innovation for external audit and anti-corruption as the development in the world of business, the variables that will be affected by external audit innovation are: reliability of financial data, relevantly of financial data, consistency of the financial data, Full disclosure of financial data and protecting the rights of investors to achieve the objectives of the study a questionnaire was designed and distributed to the society of the Jordanian bank are listed in Amman Stock Exchange. The data analysis found out that the banks in Jordan have a positive importance of Knowledge innovation for external audit on anti-corruption. They agree on the benefit of Knowledge innovation for external audit on anti-corruption. The statistical analysis showed that Knowledge innovation for external audit had a positive impact on the anti-corruption and that external audit has a significantly statistical relationship with anti-corruption, reliability of financial data, consistency of the financial data, a full disclosure of financial data and protecting the rights of investors.

Keywords: knowledge innovation, external audit, anti-corruption, Amman Stock Exchange

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Authors: Tabiti S. Tabiti, A. M. Jinadu, Daramola Japheth

Abstract:

Urban insecurity is among the challenges militating against sustainable urban governance; in the first place it distorts the peace of urban areas making them unsafe. On the other hand it hinders the effective performance of urban functions. Urban security challenges manifest in different forms such as, street violence, theft and robbery, accidents of different types kidnapping, killings etc.. Efforts to address urban security challenges in Nigeria have been concentrated in legislative, law enforcement and the use of community vigilante groups. However in this study, the place of physical planning strategy through effective neighbourhood renewal as practiced in Mokola is presented as an effective complementary approach for addressing urban insecurity. On this backdrop, the paper recommends the need for gradual rehabilitation of urban slum neighborhoods by the state government in collaboration with World Bank and other development financiers. The local governments should be made autonomy in Nigeria so as to make them more responsible to the people. Other recommendations suggested in the paper include creating enabling environment that will promote economic empowerment and public enlightment on personal and community sanitation. It is certain that if these recommendations are adopted the challenge of urban insecurity will reduce significantly in Nigerian cities.

Keywords: neighbourhood renewal, pilot project, slum upgrading, urban security

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Authors: Salahud Din, Saima Masood, Hafsa Zaneb, Habib-Ur Rehman, Imad Khan, Muqader Shah

Abstract:

The present study was carried out on the gross anatomy, biometery and radiographic analysis of tarsal bones in twenty specimens of adult chinkara (Gazella bennettii). The desired bones were collected from the graveyards present in the locality of the different safari parks and zoos in Pakistan. To observe the edges and articulations between the bones, the radiographic images were acquired in craniocaudals and mediolateral views of the intact limbs. The gross and radiographic studies of the tarsus of adult Chinkara were carried out in University of Veterinary and Animal Sciences, Lahore, Pakistan. The tarsus of chinkara comprised of five bones both grossly and radiographically, settled in three transverse rows: tibial and fibular tarsal in the proximal, central and fourth fused tarsal in the middle row, the first, second and third fused tarsal in the distal row. The fibular tarsal was the largest and longest bone of the hock, situated on the lateral side and had a bulbous tuber calcis 'point of the hock' at the proximal extremity which projects upward and backward. The average maximum height and breadth for fibular tarsal was 5.61 ± 0.23 cm and 2.06 ± 0.13 cm, respectively. The tibial tarsal bones were the 2nd largest bone of the proximal row and lie on the medial side of the tarsus bears trochlea at either end. The average maximum height and breadth for tibial tarsal was 2.79 ± 0.05 cm and 1.74 ± 0.01 cm, respectively. The central and the fourth tarsals were fused to form a large bone which extends across the entire width of the tarsus and articulates with all bones of the tarsus. A nutrient foramen was present in the center of the non auricular area, more prominent on the ventral surface. The average maximum height and breadth for central and fourth fused tarsal was 1.51 ± 0.13 cm and 2.08 ± 0.07 cm, respectively. The first tarsal was a quadrilateral piece of bone placed on the poteriomedial surface of the hock. The greatest length and maximum breadth of the first tarsal was 0.94 ± 0.01 cm and 1.01 ± 0.01 cm, respectively. The second and third fused tarsal bone resembles the central but was smaller and triangular in outline. It was situated between the central above and the large metatarsal bone below. The greatest length and maximum breadth of second and third fused tarsal was 0.98 ± 0.01 cm and 1.49 ± 0.01 cm.

Keywords: chinkara, morphometry, radiography, tarsal bone

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Authors: Norm Josephy, Lucy Kimball, Victoria Steblovskaya

Abstract:

Hedging of a portfolio of European options under proportional transaction costs is considered. Our discrete time financial market model extends the binomial market model with transaction costs to the case where the underlying stock price ratios are distributed over a bounded interval rather than over a two-point set. An optimal hedging strategy is chosen from a set of admissible non-self-financing hedging strategies. Our approach to optimal hedging of a portfolio of options is based on theoretical foundation that includes determination of a no-arbitrage option price interval as well as on properties of the non-self-financing strategies and their residuals. A computational algorithm for optimizing an investor relevant criterion over the set of admissible non-self-financing hedging strategies is developed. Applicability of our approach is demonstrated using both simulated data and real market data.

Keywords: extended binomial model, non-self-financing hedging, optimization, proportional transaction costs

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Authors: Myrto Dagkouli-Kyriakoglou

Abstract:

Southern European countries tend to have a lot of connections in their culture, customs, ideals and attitude towards everyday aspects. On the contrary, all of them demonstrate a lot of differences in their history, political life and economic situation. Nevertheless, the state welfare and its insufficiency to deal with citizens’ needs, is common for the whole region. As the global financial crisis initiated, all of them gradually were affected and established austerity measures. Consequently, there were crucial budget cuts in state welfare and accordingly limited support to the citizens at a time that is most needed as the economic difficulties of the households are rising rapidly. Crisis in connection with austerity measures brought up a housing problem which was hidden for decades with the assistance of the institution of the Southern European family. New or old copying practices concerning housing are already developed and more will rise in order to survive this new era. Expressly, youth is one of the most vulnerable groups in this situation and therefore there is a special focus on the policies that affect their housing as well as their copying practices in connection with the family/kinship strategies.

Keywords: housing, coping practices, Greece, familism

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Authors: Reza Bahboodian

Abstract:

One of the most important factors in the use of construction machinery is the fuel consumption cost of this equipment. The use of diesel engines in off-road vehicles is an important source of nitrogen oxides and particulate matter. Emissions of nitrogen oxides and particulate matter 10 in off-road vehicles (construction and mining) may be high. Due to the high cost of fuel, it is necessary to minimize fuel consumption. Factors affecting the fuel consumption of these cars are very diverse. Climate changes such as changes in pressure, temperature, humidity, fuel type selection, type of gearbox used in the car are effective in fuel consumption and pollution, and engine efficiency. In this paper, methods for reducing fuel consumption and pollutants by considering valid European and European standards are examined based on new methods such as hybridization, optimal gear change, adding hydrogen to diesel fuel, determining optimal working fluids, and using oxidation catalysts.

Keywords: improve fuel consumption, construction machinery, pollutant reduction, determining the optimal working cycle

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Authors: Arjun K., Arumugam Sankaran, Sanjay Kumar, Mousumi Das

Abstract:

The paper analyses the existence of endogenous growth scenario emanating from the demographic dividend in India during the liberalization period starting from 1980. Demographic dividend creates a fertile ground for the cultivation of human and knowledge capitals contributing to technological progress which can be measured using total factor productivity. The relationship among total factor productivity, human and knowledge capitals are examined in an open endogenous framework for the period 1980-2016. The control variables such as foreign direct investment, trade openness, energy consumption are also employed. The data are sourced from Reserve Bank of India, World Bank, International Energy Agency and The National Science and Technology Management Information System. To understand the dynamic association among variables, ARDL bounds approach to cointegration followed by Toda-Yamamoto causality test are used. The results reveal a short run and long run relationship among the variables supported by the existence of causality. This calls for an integrated policy to build and augment human capital and research and development activities to sustain and pace up growth and development in the nation.

Keywords: demographic dividend, young population, open endogenous growth models, human and knowledge capital

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Authors: Tomasz Komornicki

Abstract:

The possibilities of cross-border traffic depend on the degree of permeability of a given border as well as the state of the existing transport infrastructure. The aim of this paper is to identify the impact of economic transformation, EU accession, and infrastructure development on modal shifts in border traffic through the Polish eastern boundary. In the 1980s railway was still the main mode of cross-border transport in Poland. At the beginning of the 1990s, the role of the road and rail transborder passenger traffic was similar, but since 1993, the role of rail was decreasing. The general decline in rail infrastructure in Poland continued uninterruptedly until accession to the European Union. The slow opposite trend can be observed later as a result of the inflow of European funds. In the countries neighbouring Poland from the east, these processes took place with some delay, and the loss of railway position was not so drastic. Therefore, cross-border railway connections have been maintained for quite a long time since the break-up of the USSR. However, finally, cross-border rail transport proved to be completely inflexible in relation to both economic, geopolitical, and transport transformations. It has been shown that the current modal split of the passenger border traffic was shaped by the following factors: a) closure of many transborder railway lines, especially local ones; b) the signing of an agreement on minor border traffic with Ukraine; c) rapidly growing number of citizens of Ukraine working in Poland (unofficial transportation of workers by car directly to their workplaces in Poland); d) the emergence of low-cost air connections between Ukraine and Poland and the growing role of air transport in the Russia-Poland relationship. The summary points to the possibility of a renewed increase in the importance of rail transport on the eastern border of the European Union.

Keywords: modal change, border, rail transport, Poland

Procedia PDF Downloads 184