Search results for: corporate foundation giving
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3030

Search results for: corporate foundation giving

2400 Understanding the Effectiveness of Branding Strategies in Car Rental Service Business in India

Authors: Vrajesh Chokshi

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In last three decades, the global economy is substantially changed. Today, we are living in highly inter-connected world. The global markets are more open and consumers are well informed about products and services. The information technology revolution has broken all barriers in global business. The E-commerce has given opportunities of global trades to corporate. The IT is extensively used in almost all industries. After liberalization in 1992, the Indian economy is also significantly changed. The IT (information technology) and ITES (IT enable services) are extensively used in supply chain management. In India, previously car rental service business was dominated by local organization and operated through local contact. This industry is very lucrative and to catch this opportunity, many new corporate have ventured into e-commerce car rental service business in India. As the market is very competitive, branding is also very important part of marketing strategy. Now, the E-commerce portals those are in car rental business in India have realized the importance of the same and have started usage of all types of communication channel to promote their brand in different Indian markets. At consumer side, the awareness is also being considerably increased due to marketing communication campaign run by these companies. This paper aims to understand effectiveness of branding strategies in car rental business in India and also tries to identify unique promotional strategies to consolidate brand image of this business in different Indian markets.

Keywords: branding strategies, car rental business, CRM (customer relationship management), ITES (information technology enabled services)

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2399 Analysis of the Development of Mining Companies Social Corporate Responsibility Based on the Rating Score

Authors: Tatiana Ponomarenko, Oksana Marinina, Marina Nevskaya

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Modern corporate social responsibility (CSR) is a sphere of multilevel responsibility of a company toward society represented by various stakeholders. The relevance of CSR management grows due to the active development of socially responsible investing (principles for responsible investment) taking into account factors of environmental, social and corporate governance (ESG), growing attention of the investment community in general to the long-term stability of companies and the quality of control of nonfinancial risks. The modern approach to CSR strategic management is aimed at the creation of trustful relationships with stakeholders, on the basis of which a contribution to the sustainable development of companies, regions, and national economics is insured. However, the practical concepts of social responsibility in mining companies are different, which leads to various degrees of application of CSR. A number of companies implement CSR using a traditional (limited) understanding of responsibility toward employees and counteragents, the others understand CSR much wider and try to use leverages of efficient cooperation. As in large mining companies the scope of CSR measures is diverse and characterized by different indices, the study was aimed at evaluating CSR efficiency on the basis of a proprietary methodology and determining the level of development of CSR management in terms of anti-crisis, reactive and proactive development. The methodology of the research includes analysis of integrated global reporting initiative (GRI) reports of large mining companies; choice of most representative sectoral agents by a criterion of the regularity of issuance and publication of reports; calculation of indices of evaluation of CSR level of the selected companies in dynamics. The methodology of evaluation of CSR level is based on a rating score of changes in standard indices of GRI reports by economic, environmental, and social directions. Result. By the results of the analysis, companies of fuel and energy and metallurgic complexes, in overwhelming majority, reflecting three indices out of a wide range of possible indicators of SDGs (Sustainable Development Goals), were selected for the study. The evaluation of the scopes of CSR of the companies Gazprom, LUKOIL, Metalloinvest, Nornikel, Rosneft, Severstal, SIBUR, SUEK corresponds to the reactive type of development according to a scale of CSR strategic management, which is the average value out of the possible values. The chief drawback is that companies, in the process of analyzing global goals, often choose the goals which relate to their own activities, paying insufficient attention to the interests of the stakeholders inside the country. This fact evidences the necessity of searching for more effective mechanisms of CSR control. Acknowledgment: This article is prepared within grant support of the RFBR, project 19-510-44013 'Development of the concept of mineral resources value formation in the context of sustainable development in resource-oriented economies'.

Keywords: sustainable development, corporate social responsibility, development strategies, efficiency assessment

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2398 Designing an Integrated Platform for Real-Time Recommendations Sharing among the Aged and People Living with Cancer

Authors: Adekunle O. Afolabi, Pekka Toivanen

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The world is expected to experience growth in the number of ageing population, and this will bring about high cost of providing care for these valuable citizens. In addition, many of these live with chronic diseases that come with old age. Providing adequate care in the face of rising costs and dwindling personnel can be challenging. However, advances in technologies and emergence of the Internet of Things are providing a way to address these challenges while improving care giving. This study proposes the integration of recommendation systems into homecare to provide real-time recommendations for effective management of people receiving care at home and those living with chronic diseases. Using the simplified Training Logic Concept, stakeholders and requirements were identified. Specific requirements were gathered from people living with cancer. The solution designed has two components namely home and community, to enhance recommendations sharing for effective care giving. The community component of the design was implemented with the development of a mobile app called Recommendations Sharing Community for Aged and Chronically Ill People (ReSCAP). This component has illustrated the possibility of real-time recommendations, improved recommendations sharing among care receivers and between a physician and care receivers. Full implementation will increase access to health data for better care decision making.

Keywords: recommendation systems, Internet of Things, healthcare, homecare, real-time

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2397 Prediction of Pile-Raft Responses Induced by Adjacent Braced Excavation in Layered Soil

Authors: Linlong Mu, Maosong Huang

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Considering excavations in urban areas, the soil deformation induced by the excavations usually causes damage to the surrounding structures. Displacement control becomes a critical indicator of foundation design in order to protect the surrounding structures. Evaluation, the damage potential of the surrounding structures induced by the excavations, usually depends on the finite element method (FEM) because of the complexity of the excavation and the variety of the surrounding structures. Besides, evaluation the influence of the excavation on surrounding structures is a three-dimensional problem. And it is now well recognized that small strain behaviour of the soil influences the responses of the excavation significantly. Three-dimensional FEM considering small strain behaviour of the soil is a very complex method, which is hard for engineers to use. Thus, it is important to obtain a simplified method for engineers to predict the influence of the excavations on the surrounding structures. Based on large-scale finite element calculation with small-strain based soil model coupling with inverse analysis, an empirical method is proposed to calculate the three-dimensional soil movement induced by braced excavation. The empirical method is able to capture the small-strain behaviour of the soil. And it is suitable to be used in layered soil. Then the free-field soil movement is applied to the pile to calculate the responses of the pile in both vertical and horizontal directions. The asymmetric solutions for problems in layered elastic half-space are employed to solve the interactions between soil points. Both vertical and horizontal pile responses are solved through finite difference method based on elastic theory. Interactions among the nodes along a single pile, pile-pile interactions, pile-soil-pile interaction action and soil-soil interactions are counted to improve the calculation accuracy of the method. For passive piles, the shadow effects are also calculated in the method. Finally, the restrictions of the raft on the piles and the soils are summarized as: (1) the summations of the internal forces between the elements of the raft and the elements of the foundation, including piles and soil surface elements, is equal to 0; (2) the deformations of pile heads or of the soil surface elements are the same as the deformations of the corresponding elements of the raft. Validations are carried out by comparing the results from the proposed method with the results from the model tests, FEM and other existing literatures. From the comparisons, it can be seen that the results from the proposed method fit with the results from other methods very well. The method proposed herein is suitable to predict the responses of the pile-raft foundation induced by braced excavation in layered soil in both vertical and horizontal directions when the deformation is small. However, more data is needed to verify the method before it can be used in practice.

Keywords: excavation, pile-raft foundation, passive piles, deformation control, soil movement

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2396 Perception of Corporate Social Responsibility and Enhancing Compassion at Work through Sense of Meaningfulness

Authors: Nikeshala Weerasekara, Roshan Ajward

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Contemporary business environment, given the circumstance of stringent scrutiny toward corporate behavior, organizations are under pressure to develop and implement solid overarching Corporate Social Responsibility (CSR) strategies. In that milieu, in order to differentiate themselves from competitors and maintain stakeholder confidence banks spend millions of dollars on CSR programmes. However, knowledge on how non-western bank employees perceive such activities is inconclusive. At the same time recently only researchers have shifted their focus on positive effects of compassion at work or the organizational conditions under which it arises. Nevertheless, mediation mechanisms between CSR and compassion at work have not been adequately examined leaving a vacuum to be explored. Despite finding a purpose in work that is greater than extrinsic outcomes of the work is important to employees, meaningful work has not been examined adequately. Thus, in addition to examining the direct relationship between CSR and compassion at work, this study examined the mediating capability of meaningful work between these variables. Specifically, the researcher explored how CSR enables employees to sense work as meaningful which in turn would enhance their level of compassion at work. Hypotheses were developed to examine the direct relationship between CSR and compassion at work and the mediating effect of meaningful work on the relationship between CSR and compassion at work. Both Social Identity Theory (SIT) and Social Exchange Theory (SET) were used to theoretically support the relationships. The sample comprised of 450 respondents covering different levels of the bank. A convenience sampling strategy was used to secure responses from 13 local licensed commercial banks in Sri Lanka. Data was collected using a structured questionnaire which was developed based on a comprehensive review of literature and refined using both expert opinions and a pilot survey. Structural equation modeling using Smart Partial Least Square (PLS) was utilized for data analysis. Findings indicate a positive and significant (p < .05) relationship between CSR and compassion at work. Also, it was found that meaningful work partially mediates the relationship between CSR and compassion at work. As per the findings it is concluded that bank employees’ perception of CSR engagement not only directly influence compassion at work but also impact such through meaningful work as well. This implies that employees consider working for a socially responsible bank since it creates greater meaningfulness of work to retain with the organization, which in turn trigger higher level of compassion at work. By utilizing both SIT and SET in explaining relationships between CSR and compassion at work it amounts to theoretical significance of the study. Enhance existing literature on CSR and compassion at work. Also, adds insights on mediating capability of psychologically related variables such as meaningful work. This study is expected to have significant policy implications in terms of increasing compassion at work where managers must understand the importance of including CSR activities into their strategy in order to thrive. Finally, it provides evidence of suitability of using Smart PLS to test models with mediating relationships involving non normal data.

Keywords: compassion at work, corporate social responsibility, employee commitment, meaningful work, positive affect

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2395 Prevalence of Trichomonas Tenax in Patients with Pulmonary Disease and Watersheds and Its Potential Implications for Pulmonary Virus Infection

Authors: Pei Chi Fang, Wei Chen Lin

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Trichomonas tenax is a microaerophilic oral protozoan found in patients with poor oral hygiene. It participates in the inflammatory process of periodontal disease and can potentially be aspirated into the lungs, giving rise to pulmonary trichomoniasis. However, the precise roles of T. tenax in the pulmonary system remain largely unexplored and warrant comprehensive epidemiological investigation. To assess the prevalence of T. tenax infection, we collected bronchoalveolar lavage fluid (BALF) samples from hospitalized patients with lung diseases. A specific nested PCR approach was employed to determine prevalence rates, yielding 21 positive cases out of 61 samples from Ditmanson Medical Foundation Chia-Yi Christian Hospital, and 11 positive cases out of 55 samples from National Cheng Kung University Hospital. Furthermore, there is a critical need for comprehensive data regarding the presence of T. tenax in environmental surface watersheds. In this context, we present findings from investigations in the Yanshuei and Donggang river basins in southern Taiwan, which are crucial sources for public drinking water in the region. In order to elucidate potential implications on pulmonary virus infections, we conducted an analysis of gene expression level changes in H292 cell line after exposure to T. tenax. Our findings revealed significant regulation of multiple virus-related genes, including IFI44L and IFITM3. Ongoing research endeavors are focused on identifying the key components within T. tenax responsible for these observed effects. Crucially, this study lays the groundwork for a preliminary understanding of T. tenax prevalence in patients with pulmonary diseases. It also seeks to establish a meaningful correlation between lung infections and oral hygiene practices, with the ultimate aim of informing distinct treatment and prevention strategies.

Keywords: parasitology, genes, virus, human health, infection, lung

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2394 Development of a Risk Disclosure Index and Examination of Its Determinants: An Empirical Study in Indian Context

Authors: M. V. Shivaani, P. K. Jain, Surendra S. Yadav

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Worldwide regulators, practitioners and researchers view risk-disclosure as one of the most important steps that will promote corporate accountability and transparency. Recognizing this growing significance of risk disclosures, the paper first develops a risk disclosure index. Covering 69 risk items/themes, this index is developed by employing thematic content analysis and encompasses three attributes of disclosure: namely, nature (qualitative or quantitative), time horizon (backward-looking or forward-looking) and tone (no impact, positive impact or negative impact). As the focus of study is on substantive rather than symbolic disclosure, content analysis has been carried out manually. The study is based on non-financial companies of Nifty500 index and covers a ten year period from April 1, 2005 to March 31, 2015, thus yielding 3,872 annual reports for analysis. The analysis reveals that (on an average) only about 14% of risk items (i.e. about 10 out 69 risk items studied) are being disclosed by Indian companies. Risk items that are frequently disclosed are mostly macroeconomic in nature and their disclosures tend to be qualitative, forward-looking and conveying both positive and negative aspects of the concerned risk. The second objective of the paper is to gauge the factors that affect the level of disclosures in annual reports. Given the panel nature of data, and possible endogeneity amongst variables, Diff-GMM regression has been applied. The results indicate that age and size of firms have a significant positive impact on disclosure quality, whereas growth rate does not have a significant impact. Further, post-recession period (2009-2015) has witnessed significant improvement in quality of disclosures. In terms of corporate governance variables, board size, board independence, CEO duality, presence of CRO and constitution of risk management committee appear to be significant factors in determining the quality of risk disclosures. It is noteworthy that the study contributes to literature by putting forth a variant to existing disclosure indices that not only captures the quantity but also the quality of disclosures (in terms of semantic attributes). Also, the study is a first of its kind attempt in a prominent emerging market i.e. India. Therefore, this study is expected to facilitate regulators in mandating and regulating risk disclosures and companies in their endeavor to reduce information asymmetry.

Keywords: risk disclosure, voluntary disclosures, corporate governance, Diff-GMM

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2393 Corporate Social Responsibility in the Libyan Commercial Banks: Reality and Issues

Authors: Khalid Alshaikh

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Corporate Social Responsibility (CSR) in Libya has recently gained momentum, especially with the rise of the social issues ensued by the recent war. CSR is a new organisational culture designing its features and route within the Libyan financial institutions. Now, both the public and private banks invest in this construct trusting that its powers are capable of improving the economic, social and environmental problems the conflict has created. On the other hand, the Libyan commercial banks recognise the benefits of utilising CSR to entice investors and ensure their continuations in the national and international markets. Nevertheless, as a new concept, CSR necessitates an in-depth exploration and analysis to help its transition from the margins of religion to the mainstream of society and businesses. This can assist in constructing its activities to bring about change nation-wide. Therefore, this paper intends to explore the current definitions attached to this term through tracing back its historical beginnings. Then, it investigates its trends both in the public and private banks to identify where its sustainable development materialises. Lastly, it seeks to understand the key challenges that obscure its success in the Libyan environment. The research methodology used both public and private banks as case study and qualitative research to interview ten Board of Directors (BoDs) and eleven Chief Executive Managers (CEOs) to discover how CSR is defined and the core CSR activities practiced by the Libyan Commercial Banks (LCBs) and the key constraints that CSR faces and make it unsuccessful. The findings suggest that CSR is still influenced by the power of religion. Nevertheless, the Islamic perspective is more consistent with the social contract concept of CSR. The LCBs do not solely focus on the economic side of maximizing profits, but also concentrate on its morality. The issue is that CSR activities are not enough to achieve good charity publicly and needs strategies to address major social issues. Moreover, shareholders do not support CSR activities. Their argument is that the only social responsibility of businesses is to maximize profits, while the government should deal with the existing social issues. Finally, although the LCBs endeavour to embed CSR in their organisational culture, it is still important that different stakeholders need to do much more to entrench this construct through their core functions. The Central bank of Libya needs also to boost its standing to be more influential and ensure that the right discussions about CSR happen with the right stakeholders involved.

Keywords: corporate social responsibility, private banks, public banks, stakeholders

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2392 Strategic Risk Issues for Film Distributors of Hindi Film Industry in Mumbai: A Grounded Theory Approach

Authors: Rashmi Dyondi, Shishir K. Jha

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The purpose of the paper is to address the strategic risk issues surrounding Hindi film distribution in Mumbai for a film distributor, who acts as an entrepreneur when launching a product (movie) in the market (film territory).The paper undertakes a fundamental review of films and risk in the Hindi film industry and applies Grounded Theory technique to understand the complex phenomena of risk taking behavior of the film distributors (both independent and studios) in Mumbai. Rich in-depth interviews with distributors are coded to develop core categories through constant comparison leading to conceptualization of the phenomena of interest. This paper is a first-of-its-kind-attempt to understand risk behavior of a distributor, which is akin to entrepreneurial risk behavior under conditions of uncertainty. Unlike extensive scholarly work on dynamics of Hollywood motion picture industry, Hindi film industry is an under-researched area till now. Especially how do film distributors perceive risk is an unexplored study for the Hindi film industry. Films are unique experience products and the film distributor acts as an entrepreneur assuming high risks given the uncertainty in the motion picture business. With the entry of mighty corporate studios and astronomical film budgets posing serious business threats to the independent distributors, there is a need for an in-depth qualitative enquiry (applying grounded theory technique) for unraveling the definition of risk for the independent distributors in Mumbai vis-à-vis the corporate studios. Need for good content was a common challenge to both the groups in the present state of the industry, however corporate studios with their distinct ideologies, focus on own productions and financial power faced different set of challenges than the independents (like achieving sustainability in business). Softer issues like market goodwill and relations with producers, honesty in business dealings and transparency came out to be clear markers for success of independents in long run. The findings from the qualitative analysis stress on different elements of risk and challenges as perceived by the two groups of distributors in the Hindi film industry and provide a future research agenda for empirical investigation of determinants of box-office success of Hindi films distributed in Mumbai.

Keywords: entrepreneurial risk behavior, film distribution strategy, Hindi film industry, risk

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2391 An Innovative Approach to Improve Skills of Students in Qatar University Spending in Virtual Class though LMS

Authors: Mohammad Shahid Jamil

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In this study we have investigated students’ learning and satisfaction in one of the course offered in the Foundation Program at Qatar University. We implied innovative teaching methodology that emphasizes on enhancing students’ thinking skills, decision making, and problem solving skills. Some interesting results were found which can be used to further improve the teaching methodology. To make sure the full use of technology in Foundation Program at Qatar University has started implementing new ways of teaching Math course by using Blackboard as an innovative interactive tool to support standard teaching such as Discussion board, Virtual class, and Study plan in My Math Lab “MML”. In MML Study Plan is designed in such a way that the student can improve their skills wherever they face difficulties with in their Homework, Quiz or Test. Discussion board and Virtual Class are collaborative learning tools encourages students to engage outside of class time. These tools are useful to share students’ knowledge and learning experiences, promote independent and active learning and they helps students to improve their critical thinking skills through the learning process.

Keywords: blackboard, discussion board, critical thinking, active learning, independent learning, problem solving

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2390 Foundation Retrofitting of Storage Tank under Seismic Load

Authors: Seyed Abolhasan Naeini, Mohammad Hossein Zade, E. Izadi, M. Hossein Zade

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The different seismic behavior of liquid storage tanks rather than conventional structures makes their responses more complicated. Uplifting and excessive settlement due to liquid sloshing are the most frequent damages in cylindrical liquid tanks after shell bucking failure modes. As a matter of fact, uses of liquid storage tanks because of the simple construction on compact layer of soil as a foundation are very conventional, but in some cases need to retrofit are essential. The tank seismic behavior can be improved by modifying dynamic characteristic of tank with verifying seismic loads as well as retrofitting and improving base ground. This paper focuses on a typical steel tank on loose, medium and stiff sandy soil and describes an evaluation of displacement of the tank before and after retrofitting. The Abaqus program was selected for its ability to include shell and structural steel elements, soil-structure interaction, and geometrical nonlinearities and contact type elements. The result shows considerable decreasing in settlement and uplifting in the case of retrofitted tank. Also, by increasing shear strength parameter of soil, the performance of the liquid storage tank under the case of seismic load increased.

Keywords: steel tank, soil-structure, sandy soil, seismic load

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2389 The Role of Muslim Scholars in Promoting Islamic Education in Katsina State, Nigeria

Authors: Abdulbasit Musa Ahmad Karkarku

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Knowledge is the best asset you can leave for your child, especially the knowledge of Islam because it facilitates success in this life and the next. This made it necessary for every Muslim male and female to acquire Islamic education. The objective of this research is to highlight the role played by Muslim scholars in promoting Islamic education in Katsina State, Nigeria. There are so many problems facing Muslim scholars in the area of study; some of these problems include a lack of government support for Muslim scholars, a lack of community support, and a lack of financial support from wealthy individuals and philanthropists. In this research, two methods were used concurrently, i.e., library and interview methods. In the library method, the researcher consulted books and other academic works. In the course of this research, parents and religious leaders were interviewed in order to collect needed data information from them. The major findings of this research have shown that the Muslim scholars in area of study have contributed tremendously toward the development of Islamic education. Also, Muslim scholars played a vital role in the promotion of Islamic education in the area of study and beyond. In view of the above, some suggestions were highlighted with the view toward solving the associated problems; the government at every level should come to the aid of these Muslim scholars in order to provide them with basic amenities. The Philanthropists and wealthy individuals should help the Muslim scholars by giving them financial assistance. Also, communities have a vital role to play in order to improve the condition of Muslim scholars by giving them more donations.

Keywords: education, Islamic, Muslim, scholars

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2388 Intellectual Property Rights on Plant Materials in Colombia: Legal Harmonization for Food Sovereignty

Authors: Medina Muñoz Lina Rocio

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The purpose of this paper is to examine the debates related to the harmonization of intellectual property rights on plant material, the corporate governance of the seed market in Colombia and the political economy of seeds defended by indigenous communities. In recent years, the commodification of seeds through genetic engineering and political intellectual property, codified as a result of the implementation of the Free Trade Agreement with the United States, has come into conflict with the traditional production of seeds carried out by small farmers and indigenous populations. Agricultural and food practices. In order to understand the ontological dimension of conflicts over seeds, it is necessary to analyze the conceptions that indigenous communities have about good, which they consider a common element of their social organization and define them as sentient beings. Therefore, through a multiple approach, in which the intellectual property policy, the ecological aspects of seed production and the political ontology of indigenous communities are interwoven, I intend to present the discussions held by the actors involved and present the strategies of small producers to protect their interests. It demonstrates that communities have begun to organize social movements to protect such interests and have questioned the philosophy of GM corporate agriculture as a pro-life movement. Finally, it is argued that the conservation of 'traditional' seeds of the communities is an effective strategy to support their struggles for territory, identity, food sovereignty and self-determination.

Keywords: intellectual property rights, intellectual property, traditional knowledge, food safety

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2387 Optimization of Metal Pile Foundations for Solar Power Stations Using Cone Penetration Test Data

Authors: Adrian Priceputu, Elena Mihaela Stan

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Our research addresses a critical challenge in renewable energy: improving efficiency and reducing the costs associated with the installation of ground-mounted photovoltaic (PV) panels. The most commonly used foundation solution is metal piles - with various sections adapted to soil conditions and the structural model of the panels. However, direct foundation systems are also sometimes used, especially in brownfield sites. Although metal micropiles are generally the first design option, understanding and predicting their bearing capacity, particularly under varied soil conditions, remains an open research topic. CPT Method and Current Challenges: Metal piles are favored for PV panel foundations due to their adaptability, but existing design methods rely heavily on costly and time-consuming in situ tests. The Cone Penetration Test (CPT) offers a more efficient alternative by providing valuable data on soil strength, stratification, and other key characteristics with reduced resources. During the test, a cone-shaped probe is pushed into the ground at a constant rate. Sensors within the probe measure the resistance of the soil to penetration, divided into cone penetration resistance and shaft friction resistance. Despite some existing CPT-based design approaches for metal piles, these methods are often cumbersome and difficult to apply. They vary significantly due to soil type and foundation method, and traditional approaches like the LCPC method involve complex calculations and extensive empirical data. The method was developed by testing 197 piles on a wide range of ground conditions, but the tested piles were very different from the ones used for PV pile foundations, making the method less accurate and practical for steel micropiles. Project Objectives and Methodology: Our research aims to develop a calculation method for metal micropile foundations using CPT data, simplifying the complex relationships involved. The goal is to estimate the pullout bearing capacity of piles without additional laboratory tests, streamlining the design process. To achieve this, a case study was selected which will serve for the development of an 80ha solar power station. Four testing locations were chosen spread throughout the site. At each location, two types of steel profiles (H160 and C100) were embedded into the ground at various depths (1.5m and 2.0m). The piles were tested for pullout capacity under natural and inundated soil conditions. CPT tests conducted nearby served as calibration points. The results served for the development of a preliminary equation for estimating pullout capacity. Future Work: The next phase involves validating and refining the proposed equation on additional sites by comparing CPT-based forecasts with in situ pullout tests. This validation will enhance the accuracy and reliability of the method, potentially transforming the foundation design process for PV panels.

Keywords: cone penetration test, foundation optimization, solar power stations, steel pile foundations

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2386 Leadership Styles and Adoption of Risk Governance in Insurance and Energy Industry: A Comparative Case Study

Authors: Ruchi Agarwal

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In today’s world, companies are operating in dynamic, uncertain and ambiguous business environments. Globally, more companies are failing due to Environmental, Social and Governance (ESG) factors than ever. Corporate governance and risk management are intertwined in nature. For decades, corporate governance and risk management have been influenced by internal and external factors. Three schools of thought have influenced risk governance for decades: Agency theory, Contingency theory, and Institutional theory. Agency theory argues that agents have interests conflicting with principal interests and the information problem. Contingency theory suggests that risk management adoption is influenced by internal and external factors, while Institutional theory suggests that organizations legitimize risk management with regulators, competitors, and professional bodies. The conflicting objectives of theories have created problems for executives in organizations in the adoption of Risk Governance. So far, there are many studies that discussed risk culture and the role of actors in risk governance, but there are rare studies discussing the role of risk culture in the adoption of risk governance from a leadership style perspective. This study explores the adoption of risk governance in two contrasting industries, such as the Insurance and energy business, to understand whether risk governance is influenced by internal/external factors or whether risk culture is influenced by leaders. We draw empirical evidence by comparing the cases of an Indian insurance company and a renewable energy-based firm in India. We interviewed more than 20 senior executives of companies and collected annual reports, risk management policies, and more than 10 PPTs and other reports from 2017 to 2024. We visited the company for follow-up questions several times. The findings of my research revealed that both companies have used risk governance for strategic renewal of the company. Insurance companies use a transactional leadership style based on performance and reward for improving risk, while energy companies use rather symbolic management to make debt restructuring meaningful for stakeholders. Overall, both companies turned from loss-making to profitable ones in a few years. This comparative study highlights the role of different leadership styles in the adoption of risk governance. The study is also distinct as previous research rarely studied risk governance in two contrasting industries in reference to leadership styles.

Keywords: leadership style, corporate governance, risk management, risk culture, strategic renewal

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2385 Anatomical Characteristics of Superior Gluteal Artery

Authors: Nawaf Al-Kharashi, Waseem Al-Talalwah, Shorok Al Dorazi, Roger Soames

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Superior gluteal artery is one of the largest branches of posterior division of the internal iliac artery. It passes between the lumbosacral and first sacral root to escape from the pelvic cavity through the grater sciatic foramen just above the piriformis. The current study includes 41 cadaver investigates the origin and branch of the superior gluteal artery and clarify the clinical significance. In present study, the superior gluteal artery arises from the posterior division of the internal iliac artery directly in 82.5% whereas it arises indirectly as from the sciatic artery in 15.9%. However, it is congenital absence in 1.6% which is compensated by sciatic artery. The sciatic nerve gains vascular supply from superior gluteal artery in two ways either during its course or giving lateral sacral artery in 27% and lumbar branches in 1.6%. It also supplies the adductors group and iliacus via giving obturator artery in 14.3% and in 1.6% respectively. The superior gluteal artery usually passes between lumbosacral trunk and first sacral root in 82.5% whereas it does not passes the sciatic roots as it arises behind them in 15.9%. With a variability of the superior gluteal artery origin, there is a variability of sciatic nerve roots supply. Further, the superior gluteal artery arising from sciatic artery behind the sciatic roots carries a high risk of intra-pelvic bleeding in case of posterior pelvic fracture. Prolonged ligation of the superior gluteal artery which gives lateral sacral artery may result in sciatic neuropathy. Therefore, surgeons have to be aware of the superior gluteal artery variation in origin, course and branches to reduce the iatrogenic faults.

Keywords: internal pudendal artery, inferior gluteal artery, superior gluteal artery, internal iliac artery. sciatic neuropathy, sciatic nerve

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2384 Vibration Behavior of Nanoparticle Delivery in a Single-Walled Carbon Nanotube Using Nonlocal Timoshenko Beam Theory

Authors: Haw-Long Lee, Win-Jin Chang, Yu-Ching Yang

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In the paper, the coupled equation of motion for the dynamic displacement of a fullerene moving in a (10,10) single-walled carbon nanotube (SWCNT) is derived using nonlocal Timoshenko beam theory, including the effects of rotary inertia and shear deformation. The effects of confined stiffness between the fullerene and nanotube, foundation stiffness, and nonlocal parameter on the dynamic behavior are analyzed using the Runge-Kutta Method. The numerical solution is in agreement with the analytical result for the special case. The numerical results show that increasing the confined stiffness and foundation stiffness decrease the dynamic displacement of SWCNT. However, the dynamic displacement increases with increasing the nonlocal parameter. In addition, result using the Euler beam theory and the Timoshenko beam theory are compared. It can be found that ignoring the effects of rotary inertia and shear deformation leads to an underestimation of the displacement.

Keywords: single-walled carbon nanotube, nanoparticle delivery, Nonlocal Timoshenko beam theory, Runge-Kutta Method, Van der Waals force

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2383 Financial Innovations for Companies Offered by Banks: Polish Experience

Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the non-financial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as: Financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation

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2382 Mapping the State of the Art of European Companies Doing Social Business at the Base of the Economic Pyramid as an Advanced Form of Strategic Corporate Social Responsibility

Authors: Claudio Di Benedetto, Irene Bengo

Abstract:

The objective of the paper is to study how large European companies develop social business (SB) at the base of the economic pyramid (BoP). BoP markets are defined as the four billions people living with an annual income below $3,260 in local purchasing power. Despite they are heterogeneous in terms of geographic range they present some common characteristics: the presence of significant unmet (social) needs, high level of informal economy and the so-called ‘poverty penalty’. As a result, most people living at BoP are excluded from the value created by the global market economy. But it is worth noting, that BoP population with an aggregate purchasing power of around $5 trillion a year, represent a huge opportunity for companies that want to enhance their long-term profitability perspective. We suggest that in this context, the development of SB is, for companies, an innovative and promising way to satisfy unmet social needs and to experience new forms of value creation. Indeed, SB can be considered a strategic model to develop CSR programs that fully integrate the social dimension into the business to create economic and social value simultaneously. Despite in literature many studies have been conducted on social business, only few have explicitly analyzed such phenomenon from a company perspective and their role in the development of such initiatives remains understudied with fragmented results. To fill this gap the paper analyzes the key characteristics of the social business initiatives developed by European companies at BoP. The study was performed analyzing 1475 European companies participating in the United Nation Global Compact, the world’s leading corporate social responsibility program. Through the analysis of the corporate websites the study identifies companies that actually do SB at BoP. For SB initiatives identified, information were collected according to a framework adapted from the SB model developed by preliminary results show that more than one hundred European companies have already implemented social businesses at BoP accounting for the 6,5% of the total. This percentage increases to 15% if the focus is on companies with more than 10.440 employees. In terms of geographic distribution 80% of companies doing SB at BoP are located in western and southern Europe. The companies more active in promoting SB belong to financial sector (20%), energy sector (17%) and food and beverage sector (12%). In terms of social needs addressed almost 30% of the companies develop SB to provide access to energy and WASH, 25% of companies develop SB to reduce local unemployment or to promote local entrepreneurship and 21% of companies develop SB to promote financial inclusion of poor. In developing SB companies implement different social business configurations ranging from forms of outsourcing to internal development models. The study identifies seven main configurations through which company develops social business and each configuration present distinguishing characteristics respect to the involvement of the company in the management, the resources provided and the benefits achieved. By performing different analysis on data collected the paper provides detailed insights on how European companies develop SB at BoP.

Keywords: base of the economic pyramid, corporate social responsibility, social business, social enterprise

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2381 Impact of Audit Committee on Real Earnings Management: Cases of Netherlands

Authors: Sana Masmoudi Mardassi, Yosra Makni Fourati

Abstract:

Regulators highlight the importance of the Audit Committee (AC) as a key internal corporate governance mechanism. One of the most important roles of this committee is to oversee the financial reporting process. The purpose of this paper is to examine the link between the characteristics of an audit committee and the financial reporting quality by investigating whether the characteristics of audit committees are associated with improved financial reporting quality, especially the Real Earnings Management. In the current study, a panel data from 80 nonfinancial companies listed on the Amsterdam Stock Exchange during the period between 2010 and 2017 were used. To measure audit committee characteristics, four proxies have been used, specifically, audit committee independence, financial expertise, gender diversity and AC meetings. For this research, a linear regression model was used to identify the influence of a set of board characteristics of the audit committee on real earnings management after controlling for firm audit committee size, leverage, size, loss, growth and board size. This research provides empirical evidence of the association between audit committee independence, financial expertise, gender diversity and meetings and Real Earnings Management (REM) as a proxy of financial reporting quality. The study finds that independence and AC Gender diversity are strongly related to financial reporting quality. In fact, these two characteristics constrain REM. The results also suggest that AC- financial expertise reduces to some extent, the likelihood of engaging in REM. These conclusions provide support then to the audit committee requirement under the Dutch Corporate Governance Code rules regarding gender diversity and AC meetings.

Keywords: audit committee, financial expertise, independence, real earnings management

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2380 A Framework for Enhancing Mobile Development Software for Rangsit University, Thailand

Authors: Thossaporn Thossansin

Abstract:

This paper presents the developing of a mobile application for students who are studying in a Faculty of Information Technology, Rangsit University (RSU), Thailand. RSU enhanced the enrollment process by leveraging its information systems, which allows students to download RSU APP. This helps students to access RSU’s information that is important for them. The reason to have a mobile application is to give support students’ ability to access the system at anytime, anywhere and anywhere. The objective of this paper was to develop an application on iOS platform for students who are studying in Faculty of Information Technology, Rangsit University, Thailand. Studies and learns student’s perception for a new mobile app. This paper has targeted a group of students who is studied in year 1-4 in the faculty of information technology, Rangsit University. This new application has been developed by the department of information technology, Rangsit University and it has generally called as RSU APP. This is a new mobile application development for RSU, which has useful features and functionalities in giving support to students. The core module has consisted of RSU’s announcement, calendar, event, activities, and ebook. The mobile app has developed on iOS platform that is related to RSU’s policies in giving free Tablets for the first year students. The user satisfaction is analyzed from interview data that has 81 interviews and Google application such as google form is taken into account for 122 interviews. Generally, users were satisfied to-use application with the most satisfaction at the level of 4.67. SD is 0.52, which found the most satisfaction in that users can learn and use quickly. The most satisfying is 4.82 and SD is 0.71 and the lowest satisfaction rating in its modern form, apps lists. The satisfaction is 4.01, and SD is 0.45.

Keywords: mobile application, development of mobile application, framework of mobile development, software development for mobile devices

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2379 The Role of the Elastic Foundation Having Nonlinear Stiffness Properties in the Vibration of Structures

Authors: E. Feulefack Songong, A. Zingoni

Abstract:

A vibration is a mechanical phenomenon whereby oscillations occur about an equilibrium point. Although vibrations can be linear or nonlinear depending on the basic components of the system, the interest is mostly pointed towards nonlinear vibrations. This is because most structures around us are to some extent nonlinear and also because we need more accurate values in an analysis. The goal of this research is the integration of nonlinearities in the development and validation of structural models and to ameliorate the resistance of structures when subjected to loads. Although there exist many types of nonlinearities, this thesis will mostly focus on the vibration of free and undamped systems incorporating nonlinearity due to stiffness. Nonlinear stiffness has been a concern to many engineers in general and Civil engineers in particular because it is an important factor that can bring a good modification and amelioration to the response of structures when subjected to loads. The analysis of systems will be done analytically and then numerically to validate the analytical results. We will first show the benefit and importance of stiffness nonlinearity when it is implemented in the structure. Secondly, We will show how its integration in the structure can improve not only the structure’s performance but also its response when subjected to loads. The results of this study will be valuable to practicing engineers as well as industry practitioners in developing better designs and tools for their structures and mechanical devices. They will also serve to engineers to design lighter and stronger structures and to give good predictions as for the behavior of structures when subjected to external loads.

Keywords: elastic foundation, nonlinear, plates, stiffness, structures, vibration

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2378 Adaptation Measures as a Response to Climate Change Impacts and Associated Financial Implications for Construction Businesses by the Application of a Mixed Methods Approach

Authors: Luisa Kynast

Abstract:

It is obvious that buildings and infrastructure are highly impacted by climate change (CC). Both, design and material of buildings need to be resilient to weather events in order to shelter humans, animals, or goods. As well as buildings and infrastructure are exposed to weather events, the construction process itself is generally carried out outdoors without being protected from extreme temperatures, heavy rain, or storms. The production process is restricted by technical limitations for processing materials with machines and physical limitations due to human beings (“outdoor-worker”). In future due to CC, average weather patterns are expected to change as well as extreme weather events are expected to occur more frequently and more intense and therefore have a greater impact on production processes and on the construction businesses itself. This research aims to examine this impact by analyzing an association between responses to CC and financial performance of businesses within the construction industry. After having embedded the above depicted field of research into the resource dependency theory, a literature review was conducted to expound the state of research concerning a contingent relation between climate change adaptation measures (CCAM) and corporate financial performance for construction businesses. The examined studies prove that this field is rarely investigated, especially for construction businesses. Therefore, reports of the Carbon Disclosure Project (CDP) were analyzed by applying content analysis using the software tool MAXQDA. 58 construction companies – located worldwide – could be examined. To proceed even more systematically a coding scheme analogous to findings in literature was adopted. Out of qualitative analysis, data was quantified and a regression analysis containing corporate financial data was conducted. The results gained stress adaptation measures as a response to CC as a crucial proxy to handle climate change impacts (CCI) by mitigating risks and exploiting opportunities. In CDP reports the majority of answers stated increasing costs/expenses as a result of implemented measures. A link to sales/revenue was rarely drawn. Though, CCAM were connected to increasing sales/revenues. Nevertheless, this presumption is supported by the results of the regression analysis where a positive effect of implemented CCAM on construction businesses´ financial performance in the short-run was ascertained. These findings do refer to appropriate responses in terms of the implemented number of CCAM. Anyhow, still businesses show a reluctant attitude for implementing CCAM, which was confirmed by findings in literature as well as by findings in CDP reports. Businesses mainly associate CCAM with costs and expenses rather than with an effect on their corporate financial performance. Mostly companies underrate the effect of CCI and overrate the costs and expenditures for the implementation of CCAM and completely neglect the pay-off. Therefore, this research shall create a basis for bringing CC to the (financial) attention of corporate decision-makers, especially within the construction industry.

Keywords: climate change adaptation measures, construction businesses, financial implication, resource dependency theory

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2377 Parallels between the Glass and Lavender Ceilings

Authors: Paul E. Olsen

Abstract:

Researchers, businesses, and governments study the glass ceiling faced by women and members of minority groups at work, but the experiences of gay men, lesbians, and bisexual men and women with the lavender ceiling have not received similar attention. This qualitative research traces similarities between the lavender ceiling and the glass ceiling. More specifically, it presents a study designed to elucidate the experiences of gay men at work and compare them with those of women and minority group members, as reported in research literature on the glass ceiling. This research asked: 1) What have gay men experienced in the workplace? 2) What experiences have they had with recruitment, mentors, corporate climate, advancement opportunities, performance evaluation, social activities, harassment, and task force and committee assignments? 3) How do these experiences compare with those of women and minorities who have described their experiences with the glass ceiling? Purposeful and convenience sampling were used as participant selection strategies. Participants were diverse in terms of age, education, and industry. Data for this study were collected through semi-structured individual interviews with eight self-identified gay men working in human services, manufacturing, marketing, finance, government, the nonprofit sector, and retail. The gay men in the study described workplace experiences similar to descriptions of the glass ceiling faced by women and minorities. The lavender ceiling parallels the glass ceiling in corporate climates, harassment, mentors, social activities, promotions and performance appraisal, and task force and committee assignments at work. Women and most minorities do not, however, face the disclosure dilemma: Should one reveal his sexual orientation at work?

Keywords: discrimination, diversity, gay and lesbian, human resource

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2376 A Quantum Leap: Developing Quantum Semi-Structured Complex Numbers to Solve the “Division by Zero” Problem

Authors: Peter Jean-Paul, Shanaz Wahid

Abstract:

The problem of division by zero can be stated as: “what is the value of 0 x 1/0?” This expression has been considered undefined by mathematicians because it can have two equally valid solutions either 0 or 1. Recently semi-structured complex number set was invented to solve “division by zero”. However, whilst the number set had some merits it was considered to have a poor theoretical foundation and did not provide a quality solution to “division by zero”. Moreover, the set lacked consistency in simple algebraic calculations producing contradictory results when dividing by zero. To overcome these issues this research starts by treating the expression " 0 x 1/0" as a quantum mechanical system that produces two tangled results 0 and 1. Dirac Notation (a tool from quantum mechanics) was then used to redefine the unstructured unit p in semi-structured complex numbers so that p represents the superposition of two results (0 and 1) and collapses into a single value when used in algebraic expressions. In the process, this paper describes a new number set called Quantum Semi-structured Complex Numbers that provides a valid solution to the problem of “division by zero”. This research shows that this new set (1) forms a “Field”, (2) can produce consistent results when solving division by zero problems, (3) can be used to accurately describe systems whose mathematical descriptions involve division by zero. This research served to provide a firm foundation for Quantum Semi-structured Complex Numbers and support their practical use.

Keywords: division by zero, semi-structured complex numbers, quantum mechanics, Hilbert space, Euclidean space

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2375 Crisis Management and Corporate Political Activism: A Qualitative Analysis of Online Reactions toward Tesla

Authors: Roxana D. Maiorescu-Murphy

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In the US, corporations have recently embraced political stances in an attempt to respond to the external pressure exerted by activist groups. To date, research in this area remains in its infancy, and few studies have been conducted on the way stakeholder groups respond to corporate political advocacy in general and in the immediacy of such a corporate announcement in particular. The current study aims to fill in this research void. In addition, the study contributes to an emerging trajectory in the field of crisis management by focusing on the delineation between crises (unexpected events related to products and services) and scandals (crises that spur moral outrage). The present study looked at online reactions in the aftermath of Elon Musk’s endorsement of the Republican party on Twitter. Two data sets were collected from Twitter following two political endorsements made by Elon Musk on May 18, 2022, and June 15, 2022, respectively. The total sample of analysis stemming from the data two sets consisted of N=1,374 user comments written as a response to Musk’s initial tweets. Given the paucity of studies in the preceding research areas, the analysis employed a case study methodology, used in circumstances in which the phenomena to be studied had not been researched before. According to the case study methodology, which answers the questions of how and why a phenomenon occurs, this study responded to the research questions of how online users perceived Tesla and why they did so. The data were analyzed in NVivo by the use of the grounded theory methodology, which implied multiple exposures to the text and the undertaking of an inductive-deductive approach. Through multiple exposures to the data, the researcher ascertained the common themes and subthemes in the online discussion. Each theme and subtheme were later defined and labeled. Additional exposures to the text ensured that these were exhaustive. The results revealed that the CEO’s political endorsements triggered moral outrage, leading to Tesla’s facing a scandal as opposed to a crisis. The moral outrage revolved around the stakeholders’ predominant rejection of a perceived intrusion of an influential figure on a domain reserved for voters. As expected, Musk’s political endorsements led to polarizing opinions, and those who opposed his views engaged in online activism aimed to boycott the Tesla brand. These findings reveal that the moral outrage that characterizes a scandal requires communication practices that differ from those that practitioners currently borrow from the field of crisis management. Specifically, because scandals flourish in online settings, practitioners should regularly monitor stakeholder perceptions and address them in real-time. While promptness is essential when managing crises, it becomes crucial to respond immediately as a scandal is flourishing online. Finally, attempts should be made to distance a brand, its products, and its CEO from the latter’s political views.

Keywords: crisis management, communication management, Tesla, corporate political activism, Elon Musk

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2374 Effect of Twin Cavities on the Axially Loaded Pile in Clay

Authors: Ali A. Al-Jazaairry, Tahsin T. Sabbagh

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Presence of cavities in soil predictably induces ground deformation and changes in soil stress, which might influence adjacent existing pile foundations, though the effect of twin cavities on a nearby pile needs to be understood. This research is an attempt to identify the behaviour of piles subjected to axial load and embedded in cavitied clayey soil. A series of finite element modelling were conducted to investigate the performance of piled foundation located in such soils. The validity of the numerical simulation was evaluated by comparing it with available field test and alternative analytical model. The study involved many parameters such as twin cavities size, depth, spacing between cavities, and eccentricity of cavities from the pile axis on the pile performance subjected to axial load. The study involved many cases; in each case, a critical value has been found in which cavities’ presence has shown minimum impact on the behaviour of pile. Load-displacement relationships of the affecting parameters on the pile behaviour were presented to provide helpful information for designing piled foundation situated near twin underground cavities. It was concluded that the presence of the cavities within the soil mass reduces the ultimate capacity of pile. This reduction differs according to the size and location of the cavity.

Keywords: axial load, clay, finite element, pile, twin cavities, ultimate capacity

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2373 Exploring Legal Liabilities of Mining Companies for Human Rights Abuses: Case Study of Mongolian Mine

Authors: Azzaya Enkhjargal

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Context: The mining industry has a long history of human rights abuses, including forced labor, environmental pollution, and displacement of communities. In recent years, there has been growing international pressure to hold mining companies accountable for these abuses. Research Aim: This study explores the legal liabilities of mining companies for human rights abuses. The study specifically examines the case of Erdenet Mining Corporation (EMC), a large mining company in Mongolia that has been accused of human rights abuses. Methodology: The study used a mixed-methods approach, which included a review of legal literature, interviews with community members and NGOs, and a case study of EMC. Findings: The study found that mining companies can be held liable for human rights abuses under a variety of regulatory frameworks, including soft law and self-regulatory instruments in the mining industry, international law, national law, and corporate law. The study also found that there are a number of challenges to holding mining companies accountable for human rights abuses, including the lack of effective enforcement mechanisms and the difficulty of proving causation. Theoretical Importance: The study contributes to the growing body of literature on the legal liabilities of mining companies for human rights abuses. The study also provides insights into the challenges of holding mining companies accountable for human rights abuses. Data Collection: The data for the study was collected through a variety of methods, including a review of legal literature, interviews with community members and NGOs, and a case study of EMC. Analysis Procedures: The data was analyzed using a variety of methods, including content analysis, thematic analysis, and case study analysis. Conclusion: The study concludes that mining companies can be held liable for human rights abuses under a variety of legal and regulatory frameworks. There are positive developments in ensuring greater accountability and protection of affected communities and the environment in countries with a strong economy. Regrettably, access to avenues of redress is reasonably low in less developed countries, where the governments have not implemented a robust mechanism to enforce liability requirements in the mining industry. The study recommends that governments and mining companies take more ambitious steps to enhance corporate accountability.

Keywords: human rights, human rights abuses, ESG, litigation, Erdenet Mining Corporation, corporate social responsibility, soft law, self-regulation, mining industry, parent company liability, sustainability, environment, UN

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2372 Development of Risk Index and Corporate Governance Index: An Application on Indian PSUs

Authors: M. V. Shivaani, P. K. Jain, Surendra S. Yadav

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Public Sector Undertakings (PSUs), being government-owned organizations have commitments for the economic and social wellbeing of the society; this commitment needs to be reflected in their risk-taking, decision-making and governance structures. Therefore, the primary objective of the study is to suggest measures that may lead to improvement in performance of PSUs. To achieve this objective two normative frameworks (one relating to risk levels and other relating to governance structure) are being put forth. The risk index is based on nine risks, such as, solvency risk, liquidity risk, accounting risk, etc. and each of the risks have been scored on a scale of 1 to 5. The governance index is based on eleven variables, such as, board independence, diversity, risk management committee, etc. Each of them are scored on a scale of 1 to five. The sample consists of 39 PSUs that featured in Nifty 500 index and, the study covers a 10 year period from April 1, 2005 to March, 31, 2015. Return on assets (ROA) and return on equity (ROE) have been used as proxies of firm performance. The control variables used in the model include, age of firm, growth rate of firm and size of firm. A dummy variable has also been used to factor in the effects of recession. Given the panel nature of data and possibility of endogeneity, dynamic panel data- generalized method of moments (Diff-GMM) regression has been used. It is worth noting that the corporate governance index is positively related to both ROA and ROE, indicating that with the improvement in governance structure, PSUs tend to perform better. Considering the components of CGI, it may be suggested that (i). PSUs ensure adequate representation of women on Board, (ii). appoint a Chief Risk Officer, and (iii). constitute a risk management committee. The results also indicate that there is a negative association between risk index and returns. These results not only validate the framework used to develop the risk index but also provide a yardstick to PSUs benchmark their risk-taking if they want to maximize their ROA and ROE. While constructing the CGI, certain non-compliances were observed, even in terms of mandatory requirements, such as, proportion of independent directors. Such infringements call for stringent penal provisions and better monitoring of PSUs. Further, if the Securities and Exchange Board of India (SEBI) and Ministry of Corporate Affairs (MCA) bring about such reforms in the PSUs and make mandatory the adherence to the normative frameworks put forth in the study, PSUs may have more effective and efficient decision-making, lower risks and hassle free management; all these ultimately leading to better ROA and ROE.

Keywords: PSU, risk governance, diff-GMM, firm performance, the risk index

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2371 Implication of Soil and Seismic Ground Motion Variability on Dynamic Pile Group Impedance for Bridges

Authors: Muhammad Tariq Chaudhary

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Bridges constitute a vital link in a transportation system and their functionality after an earthquake is critical in reducing disruption to social and economic activities of the society. Bridges supported on pile foundations are commonly used in many earthquake-prone regions. In order to properly design or investigate the performance of such structures, it is imperative that the effect of soil-foundation-structure interaction be properly taken into account. This study focused on the influence of soil and seismic ground motion variability on the dynamic impedance of pile-group foundations typically used for medium-span (about 30 m) urban viaduct bridges. Soil profiles corresponding to various AASHTO soil classes were selected from actual data of such bridges and / or from the literature. The selected soil profiles were subjected to 1-D wave propagation analysis to determine effective values of soil shear modulus and damping ratio for a suite of properly selected actual seismic ground motions varying in PGA from 0.01g to 0.64g, and having variable velocity and frequency content. The effective values of the soil parameters were then employed to determine the dynamic impedance of pile groups in horizontal, vertical and rocking modes in various soil profiles. Pile diameter was kept constant for bridges in various soil profiles while pile length and number of piles were changed based on AASHTO design requirements for various soil profiles and earthquake ground motions. Conclusions were drawn regarding variability in effective soil shear modulus, soil damping, shear wave velocity and pile group impedance for various soil profiles and ground motions and its implications for design and evaluation of pile-supported bridges. It was found that even though the effective soil parameters underwent drastic variation with increasing PGA, the pile group impedance was not affected much in properly designed pile foundations due to the corresponding increase in pile length or increase in a number of piles or both when subjected to increasing PGA or founded in weaker soil profiles.

Keywords: bridge, pile foundation, dynamic foundation impedance, soil profile, shear wave velocity, seismic ground motion, seismic wave propagation

Procedia PDF Downloads 317