Search results for: corporate foundations

Authors: Amir Masoud Dabagh, Mahsa Khaleghi

Abstract:

The world has entered a new phase of cultural, social, economic, and so on in the last two centuries. Apart from its positive benefits and achievements to the world, it has also incurred many costs, most of which can be mentioned as destroying or at least diminishing the role of the costumes, traditions and authentic culture of the past communities. Understanding what lasts in traditional arts is vital and worthy of study because receiving it and embracing art and forms of art using that last the artistic creation removes the age-old color and smell of its face, making it immortal and persistent in all ages. This paper attempts to present traditional art concepts and solutions for interior design with the approach of handicrafts recreation as a symbol and manifestation of national identity and proof of ancient civilizations, which is at the center of tourists' attention today. The research method is a descriptive-analytical one that first explores the theoretical foundations of research, which are the concepts of recreation and traditional arts, and analyzes the process of recreation that conceals the recollection of past experiences as well as the dynamics and creativity.

Keywords: recreation, handicrafts, interior design, concept, traditional arts

Procedia PDF Downloads 89

Authors: Renaud Gaucher

Abstract:

Research on happiness has developed significantly in the past fifty years and economics and the political science are starting to be influenced by advances in the field. Until recently, finance has stayed outside this movement. The goal of our research is to integrate finance into this movement conceptually. We explain the why, the what and the how of the finance of happiness. We then study the relationship between corporate finance and happiness. We discuss the optimization of the relationship between the financial performance of a firm and the happiness at work of its employees, and the reduction of financial risk by developing goods that foster the happiness of their users. Finally we look at the development of happiness investment funds, that is investment funds founded on happiness research, and the best ways to share risks and earnings to build a happier society.

Keywords: finance, happiness, investment fund, risk

Procedia PDF Downloads 169

Authors: Matthew Morey, Aron Gottesman

Abstract:

This paper examines the relationship between mutual fund governance and the activeness of equity mutual funds. Using a fund’s corporate culture as a proxy for its governance and controlling for other variables, we find that funds with the better governance are significantly more active than other funds. Further, we find the probability of finding a highly active fund increases significantly as the governance of the fund improves. We also find some evidence that the probability of finding a closet index fund increases as the governance of the fund declines. These results demonstrate that mutual fund governance should be considered carefully when making mutual fund investment decisions.

Keywords: active, share, mutual funds, economics

Procedia PDF Downloads 312

Authors: Mohanad Talal Alfach

Abstract:

This paper concerns the seismic behaviour of soil-piles-bridge reinforced by additional micropiles. The analysis carried out by three-dimensional finite element modelling using the FE software ABAQUS. The soil behaviour is assumed to be elastic with Rayleigh damping, while the micropiles are modeled as 3D elastic beam elements. The bridge deck slab was represented by a concentrated mass at the top of the pier column. The interaction between the added micropiles and the existing piles as well as the performance of the retrofitted soil-pile-superstructure system were investigated for different configurations of additional micropiles (number, position, inclination). Numerical simulation results show that additional micropiles constitute an efficient retrofitting solution. Analysis of results also shows that spacing between existing piles and retrofitting micropiles has little effect; while it is observed a substantial improvement (in case of weak piles/micropiles - soil interface) with reducing the inclination angle of retrofitting micropiles.

Keywords: retrofitting, seismic, finite element, micropiles, elastic

Procedia PDF Downloads 131

Authors: Volkan Gulsen

Abstract:

This paper attempts to indicate the main class dynamics of the Brexit process in a Gramscian theoretical framework. It further aims to point out the influence of the withdrawal of the United Kingdom on the European Union class structure. It defines the unification process of the European Union as a passive revolution. In that way, the Brexit process has been described as a moment of negation in the European Union history of class struggle. It will be argued that the withdrawal of the United Kingdom has already altered the European class structure from the embedded neoliberal structure to a more corporate-liberal one.

Keywords: brexit, gramsci, passive revolution, post-neoliberalism

Procedia PDF Downloads 125

Authors: Luciano Roberto Fernandez-Sola, Cesar Augusto Arredondo-Velez, Miguel Angel Jaimes-Tellez

Abstract:

This paper explores the modifications on peak acceleration, velocity and displacement profiles over the structure due to dynamic soil-structure interaction (DSSI). A shear beam model is used for the structure. Soil-foundation flexibility (inertial interaction) is considered by a set of springs and dashpots at the structure base. Kinematic interaction is considered using transfer functions. Impedance functions are computed using simplified expressions for rigid foundations. The research studies the influence of the slenderness ratio on the value of the peak floor response. It is shown that the modifications of peak floor responses are not the same for acceleration, velocity and displacement. This is opposite to the hypothesis used by methods included in several building codes. Results show that modifications produced by DSSI on different response quantities are not equal.

Keywords: peak floor intensities, dynamic soil-structure interaction, buildings with flexible base, kinematic and inertial interaction

Procedia PDF Downloads 436

Authors: Larysa Novak-Kalyayeva, Aleksander Kuczabski, Orystlava Sydorchuk, Nataliia Fersman, Tatyana Zemlinskaia

Abstract:

The article presents the results of the creative analysis and comparison of trends in the development of the theory of public administration during the period from the second half of the 20^th to the beginning of the 21^st century. The process of conceptualization of the priorities of public administration in the dynamics of reforming was held under the influence of such factors as globalization, integration, information and technological changes and human rights is examined. The priorities of the social state in the concepts of the second half of the 20^th century are studied. Peculiar approaches to determining the priorities of public administration in the countries of "Soviet dictatorship" in Central and Eastern Europe in the same period are outlined. Particular attention is paid to the priorities of public administration regarding the interaction between public power and society and the development of conceptual foundations for the modern managerial process. There is a thought that the dynamics of the formation of concepts of the European governance is characterized by the sequence of priorities: from socio-economic and moral-ethical to organizational-procedural and non-hierarchical ones. The priorities of the "welfare state" were focused on the decent level of material wellbeing of population. At the same time, the conception of "minimal state" emphasized priorities of human responsibility for their own fate under the conditions of minimal state protection. Later on, the emphasis was placed on horizontal ties and redistribution of powers and competences of "effective state" with its developed procedures and limits of responsibility at all levels of government and in close cooperation with the civil society. The priorities of the contemporary period are concentrated on human rights in the concepts of "good governance" and all the following ones, which recognize the absolute priority of public administration with compliance, provision and protection of human rights. There is a proved point of view that civilizational changes taking place under the influence of information and technological imperatives also stipulate changes in priorities, redistribution of emphases and update principles of managerial concepts on the basis of publicity, transparency, departure from traditional forms of hierarchy and control in favor of interactivity and inter-sectoral interaction, decentralization and humanization of managerial processes. The necessity to permanently carry out the reorganization, by establishing the interaction between different participants of public power and social relations, to establish a balance between political forces and social interests on the basis of mutual trust and mutual understanding determines changes of social, political, economic and humanitarian paradigms of public administration and their theoretical comprehension. The further studies of theoretical foundations of modern public administration in interdisciplinary discourse in the context of ambiguous consequences of the globalizational and integrational processes of modern European state-building would be advisable. This is especially true during the period of political transformations and economic crises which are the characteristic of the contemporary Europe, especially for democratic transition countries.

Keywords: concepts of public administration, democratic transition countries, human rights, the priorities of public administration, theory of public administration

Procedia PDF Downloads 149

Authors: Hélène Knoerr

Abstract:

In an increasingly global world, more and more international students attend academic courses and programs in a second or foreign language, and local students register in language learning classes in order to improve their employability. These students need to quickly become proficient in the new language. How can we, as administrators, curriculum developers and teachers, make sure that they have the tools they need in order to develop their language skills in an academic context? This paper will describe the development and implementation of a new course, Learning to learn, as part of the Major in French/English as a Second Language at the University of Ottawa. This academic program was recently completely overhauled in order to reflect the current approaches in language learning (more specifically, the action-oriented approach as embodied in the Common European Framework of Reference for Languages, and the concept of life-long autonomous learning). The course itself is based on research on language learning strategies, with a particular focus on the characteristics of the “good language learner”. We will present the methodological and pedagogical foundations, describe the course objectives and learning outcomes, the language learning strategies, and the classroom activities. The paper will conclude with students’ feedback and suggest avenues for further exploration.

Keywords: curriculum development, language learning, learning strategies, second language

Procedia PDF Downloads 389

Authors: Ahmed S. Abdulrasool

Abstract:

Recently sand wall started to gain more attention as the sand is easy to compact by using vibroflotation technique. An advantage of sand wall is the availability of different additives that can be mixed with sand to increase the stiffness of the sand wall and hence to increase its performance. In this paper, the bearing capacity of circular foundation surrounded by sand wall stabilized with lime is evaluated through laboratory testing. The studied parameters include different sand-lime walls depth (H/D) ratio (wall depth to foundation diameter) ranged between (0.0-3.0). Effect of lime percentages on the bearing capacity of skirted foundation models is investigated too. From the results, significant change is occurred in the behavior of shallow foundations due to confinement of the soil. It has been found that (H/D) ratio of 2 gives substantial improvement in bearing capacity, and beyond (H/D) ratio of 2, there is no significant improvement in bearing capacity. The results show that the optimum lime content is 11%, and the maximum increase in bearing capacity reaches approximately 52% at (H/D) ratio of 2.

Keywords: bearing capacity, circular foundation, clay soil, lime-sand wall

Procedia PDF Downloads 377

Authors: Charles Anthony S. Santillan, Jude Noel P. Jarina, Patricia Mae A. Cuevas, Julito B. Añora Jr.

Abstract:

The research examines the effectiveness of Two-Position and Tuned PID controllers in magnetic levitation systems. Magnetic levitation, a crucial technology in diverse industries, depends on meticulous control mechanisms for stability and performance. The study seeks to compare these two control strategies to ascertain their efficacy in practical applications. The paper explores the theoretical foundations of the controllers, presents an experimental methodology emphasizing setup and installation, and examines the results about stability, response time, and susceptibility to disturbances. By interpreting and discussing the findings, the research provides valuable perspectives on the practical ramifications of utilizing Two-Position and Tuned PID controllers in magnetic levitation systems. The conclusion encapsulates significant outcomes and proposes avenues for future research, thereby contributing to the progress of control strategies in magnetic levitation technology.

Keywords: arduino, comparative analysis, magnetic levitation, tuned PID controller, two-position controller

Procedia PDF Downloads 49

Authors: Haitham J. M. Odeh

Abstract:

This paper introduced an analysis of the effect of tunneling near pile foundations. Accomplished by three-dimensional finite element modeling. The numerical simulation is conducted using Abaqus finite element software. By examining different Tunnel-pile scenarios. The paper presents the tunnel induced pile responses, Such as pile settlement, pile internal forces, and the comments made on changing the vertical and transversal location of the tunnel related to the piles, the study contains two pile-supported structure cases, single and a group of piles. A comprehensive comparison between real case study results and numerical simulation is presented. The results of the analysis reveal the critical and safe location of tunnel construction and the positive effect of a group of piles existing instead of single piles. Also, demonstrates the changes in pile responses by changing the tunnel location.

Keywords: pile responses, single pile, group of piles, pile-tunnel interaction

Procedia PDF Downloads 119

Authors: Fotis Vouzas

Abstract:

This paper is an attempt to investigate the Business Ethics link to Quality Management. Business Ethics as a management practice is well rooted in many organizations, but its contribution to quality management implementation programs and practices is not well documented. The ISO 9000 and the Business Excellence frameworks and Awards seem to provide a basis for the implementation of a TQM philosophy contributing to efficiency, enhanced performance and sustainability. The author examines a series of Corporate Ethics initiatives and investigates the relationship to Total Quality Management in an MNC operating in Greece. The data gathering was carried out through extensive and in-depth interviews with several multiple informants, i.e., the plant manager, the production manager, and the personnel manager, using a semi-structured questionnaire with open-ended questions.

Keywords: total quality management, business ethics, Greece, ISO 9000

Procedia PDF Downloads 54

Authors: Ahmed Sakr Ashour, Hoda Saad AboRemila

Abstract:

An attempt was made to fill the gap in the macro analysis of corruption by suggesting a conceptual framework that differentiates four types of macro corruption: state capture, political, bureaucratic and financial/corporate. The economic consequences or forward linkages (growth, inclusiveness and sustainability of development) and macro institutional determinants constituting the backward linkages of each type were delineated. The research implications of the macro perspective and proposed framework were discussed. Implications of the findings for theory, research and reform policies addressing macro corruption issues were discussed.

Keywords: economic growth, inclusive growth, macro corruption, sustainable development

Procedia PDF Downloads 161

Authors: Seyed Abolhasan Naeini, Javad Shamsi Soosahab

Abstract:

The use of geosynthetic reinforcement within the footing soils is a very effective and useful method to avoid the construction of costly deep foundations. This study investigated the use of geosynthetics for soil improvement based on numerical modeling using FELA software. Pressure settlement behavior and bearing capacity ratio of foundation on geogrid reinforced sand is investigated and the effect of different parameters like as number of geogrid layers and vertical distance between elements in three different relative density soil is studied. The effects of geometrical parameters of reinforcement layers were studied for determining the optimal values to reach to maximum bearing capacity. The results indicated that the optimum range of the distance ratio between the reinforcement layers was achieved at 0.5 to 0.6 and after number of geogrid layers of 4, no significant effect on increasing the bearing capacity of footing on reinforced sandy with geogrid

Keywords: geogrid, reinforced sand, FELA software, distance ratio, number of geogrid layers

Procedia PDF Downloads 131

Authors: Samuel Faboyede, Obiamaka Nwobu, Samuel Fakile, Dickson Mukoro

Abstract:

In the present dynamic business environment of corporate governance and regulations, financial reporting is an inevitable and extremely significant process for every business enterprise. Several financial elements such as Annual Reports, Quarterly Reports, ad-hoc filing, and other statutory/regulatory reports provide vital information to the investors and regulators, and establish trust and rapport between the internal and external stakeholders of an organization. Investors today are very demanding, and emphasize greatly on authenticity, accuracy, and reliability of financial data. For many companies, the Internet plays a key role in communicating business information, internally to management and externally to stakeholders. Despite high prominence being attached to external reporting, it is disconnected in most companies, who generate their external financial documents manually, resulting in high degree of errors and prolonged cycle times. Chief Executive Officers and Chief Financial Officers are increasingly susceptible to endorsing error-laden reports, late filing of reports, and non-compliance with regulatory acts. There is a lack of common platform to manage the sensitive information – internally and externally – in financial reports. The Internet financial reporting language known as eXtensible Business Reporting Language (XBRL) continues to develop in the face of challenges and has now reached the point where much of its promised benefits are available. This paper looks at the emergence of this revolutionary twenty-first century language of digital reporting. It posits that today, the world is on the brink of an Internet revolution that will redefine the ‘business reporting’ paradigm. The new Internet technology, eXtensible Business Reporting Language (XBRL), is already being deployed and used across the world. It finds that XBRL is an eXtensible Markup Language (XML) based information format that places self-describing tags around discrete pieces of business information. Once tags are assigned, it is possible to extract only desired information, rather than having to download or print an entire document. XBRL is platform-independent and it will work on any current or recent-year operating system, or any computer and interface with virtually any software. The paper concludes that corporate stakeholders and the government cannot afford to ignore the XBRL. It therefore recommends that all must act locally and think globally now via the adoption of XBRL that is changing the face of worldwide business reporting.

Keywords: XBRL, financial reporting, internet, internal and external reports

Procedia PDF Downloads 263

Authors: Michael Postert

Abstract:

The Studierendenwerke are legally independent public foundations with a one-century-old history in the German university community. Like the French CROUS, the Italian ANDISU or the Japanese University COOPs, they are set-up to serve the university and student needs. They are legally independent of their client institutions and student stakeholders. Initially set up as a support organization by students for students they have evolved to public business institutions with an annual turnover of EUR 100 Million or more. They are usually engaged in business areas such as student housing, restaurants, student grants, governmental scholarships and counselling services. These institutions are facing major changes over the next few years. The COVID19 pandemic and its impact on the educational system will unavoidably have an immense impact on the German student service organizations (Studierendenwerke). Issues such as digitalization and sustainability will have a huge impact on how the future business model of the Studierendenwerke will look like. The paper will discuss the aims and challenges of this development that started already before the COVID19 pandemic. In light of the way the educational system of the future will look like, the Studierendenwerke have to develop as well.

Keywords: business model, digitalization, education, student services

Procedia PDF Downloads 211

Authors: William R. Crawley

Abstract:

The current paper provides an examination of the primary conceptual and historical foundations leading to contemporary perspectives in criminological theory. This subject area involves the examination of theory that is vast and highly interdisciplinary but must, at its core, consider several postulates. The following areas of consideration will be the focus of this examination: presentation of various definitions of criminology as a discipline and attention to a dialogue which inquires as to whether criminological modes of explanation can be regarded as scientific with respect to focus, methods, and findings – e.g., conceptualization, operationalization, measurement strategies, analytical techniques, etc. Specifically, two opposing philosophical frameworks—naturalistic and anti-naturalistic philosophy—are examined by means of conceptual analysis for their necessary and sufficient conditions. Like all academic disciplines, for practitioners and students of criminology to understand and effectively use insights and discoveries, it is imperative that disciplinary axioms and methodologies are critically scrutinized. This paper provides a primer to this critique.

Keywords: anti-naturalistic philosophy, humanistic tradition, is criminology a science, naturalistic philosophy, nomological-deductive model

Procedia PDF Downloads 56

Authors: Andrea J. Alarcón, Maxime Daulat, Raydel Lorenzo, Renato P. Da Cunha, Pierre Breul

Abstract:

Brazil has increased the use of renewable energy during the last years. Due to its sunshine and large surface area, photovoltaic panels founded in helical piles have been used to produce solar energy. Since Brazilian territory is mainly cover by highly porous structured tropical soils, when the helical piles are installed this structure is broken and its soil properties are modified. Considering the special characteristics of these soils, helical foundations behavior must be extensively studied. The first objective of this work is to determine the most suitable method to estimate the tensile capacity of helical piles in tropical soils. The second objective is to simulate the behavior of these piles in tropical soil. To obtain the rupture to assess load-displacement curves and the ultimate load, also a numerical modelling using Plaxis software was conducted. Lastly, the ultimate load and the load-displacements curves are compared with experimental values to validate the implemented model.

Keywords: finite element, helical piles, modelling, tropical soil, uplift capacity

Procedia PDF Downloads 154

Authors: M. H. Aissa, Amar Bouzid Dj

Abstract:

As known, many countries are now planning to build new wind farms with high capacity up to 5MW. Consequently, the size of the foundation increase. These kinds of structures are subject to fatigue damage from environmental loading mainly due to wind and waves as well as from cyclic loading imposed through the rotational frequency (1P) through mass and aerodynamic imbalances and from the blade passing frequency (3P) of the wind turbine which make them behavior dynamically very sensitive. That is why natural frequency must be determined with accuracy from the existing data of the soil and the foundation stiffness sources of uncertainties, to avoid the resonance of the system. This paper presents analytical expressions of stiffness foundation with large diameter in linear soil behavior in different soil stiffness profile. To check the accuracy of the proposed formulas, a mathematical model approach based on non-dimensional parameters is used to calculate the natural frequency taking into account the soil structure interaction (SSI) compared with the p-y method and measured frequency in the North Sea Wind farms.

Keywords: offshore wind turbines, semi analytical FE analysis, p-y curves, piles foundations

Procedia PDF Downloads 450

Authors: Lorenzo Maiorino, Fabio Fortuna, Giovanni Panebianco, Marco Sanzari, Gabriella Arcese, Valerio Maria Paolozzi

Abstract:

It is well known that sport is a factor of social cohesion and the breaking down of barriers between people. From this point of view, the aim is to demonstrate how, through the (re)generation of sustainable structures, it is possible to give life to a new social, cultural, and economic pathway, where possible, in peripheral areas with problems of abandonment and degradation. The aim of this paper is, therefore, to study realities such as European programs and funds and to highlight the ways in which planning can be used to respond to critical issues such as urban decay, abandonment, and the mitigation of social differences. For this reason, the analysis will be carried out through the Multiannual Financial Framework (MFF) package, the Next Generation EU, the Recovery and Resilience Facility (RRF), the Cohesion Fund, the European Social Fund, and other managed funds. The procedure will rely on sources and data of unquestionable origin, and the relation to the object of study in question will be highlighted. The project lends itself to be ambitious and exploring a further aspect of the sports theme, which, as we know, is one of the foundations for a healthy society.

Keywords: sport, social inclusion, urban regeneration, sports facilities, European funds

Procedia PDF Downloads 207

Authors: Abdullah Alsaeed

Abstract:

Virtualized computing and cloud computing infrastructures are no longer fuzz or marketing term. They are a core reality in today’s corporate Information Technology (IT) organizations. Hence, developing an effective and efficient methodologies for data backup and data recovery is required more than any time. The purpose of data backup and recovery techniques are to assist the organizations to strategize the business continuity and disaster recovery approaches. In order to accomplish this strategic objective, a variety of mechanism were proposed in the recent years. This research paper will explore and examine the latest techniques and solutions to provide data backup and restoration for the cloud computing platforms.

Keywords: data backup, data recovery, cloud computing, business continuity, disaster recovery, cost-effective, data encryption.

Procedia PDF Downloads 66

Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

Abstract:

Transport infrastructures are high-cost, long-term investments that serve as vital foundations for the operation of a region or nation and are essential to a country’s or business’s economic development and prosperity, by improving well-being and generating jobs and income. The development of appropriate financing options is of key importance in the decision making process in order develop viable transport infrastructures. The development of transport infrastructure has increasingly been shifting toward alternative methods of project financing such as Public Private Partnership (PPPs) and hybrid forms. In this paper, a methodological decision-making framework based on the evaluation of the financial viability of transportation infrastructure for different financial schemes is presented. The framework leads to an assessment of the financial viability which can be achieved by performing various financing scenarios analyses. To illustrate the application of the proposed methodology, a case study of rail transport infrastructure financing scenario analysis in Greece is developed.

Keywords: rail transport infrastructure, financial viability, scenario analysis, rail project feasibility

Procedia PDF Downloads 260

Authors: Jay Raval

Abstract:

Sports and physical fitness have been a vital component of our civilization. It is such a power which, motivates and inspires every individual, communities and even countries to be aware of the physical and mental health. All though, sports play vital role in the overall development of the nation, but in the developing countries such as India, this culture of sports is yet to be motivated. However, in India lack of sporting culture has held back the growth of a similar industry in the past, despite the growing awareness and interest in various different sports besides cricket. Hence, due to a lack of sporting culture, corporate investments in India’s sports have traditionally been limited to only non-profit corporate social responsibility activities and initiatives. From past couple of years, India has come up with new initiatives such as Indian Premier League (Cricket), Hockey India League, Indian Badminton League, Pro Kabaddi League, and Indian Super League (Football) which help to boost Indian sports culture and thereby increase economy of the country. Out of 29 states of India, among all of those competitive states, Gujarat is showing very rapid increase in sports participation. Khel Mahakumbh, the competition conducted for the last six years has been a giant step in this direction and covers rural and urban areas of Gujarat. The objective of the research is to address the overall development of the sports system. Sports system includes infrastructure, coaches, resources, and participants. The current existing system is not disabled friendly. This research paper highlights adequate steps in order to improve and sort out pressing issues in the sports system. Education system is highly academic-centric with a definite trend towards reducing school sports and extra-curricular sports in the Gujarat state. Constituents of this research work make an attempt to evaluate the framework of the Olympic Charter, the Sports Authority of India, the Indian Olympics Association and the National Sports Federations. It explores the areas that need to be revamped, rejuvenated and reoriented to function in an open, democratic, equitable, transparent and accountable manner. Research is based on mixed method approach. It is used for the data collection which includes the personal interviews, document analysis and the use of news article. Quality assurance is also tested by conducting the trustworthiness of the paper. Mixed method helps to strengthen the analysis part and give strong base for the discussion during the analysis.

Keywords: physical development, sports authority of India, sports policy, women empowerment

Procedia PDF Downloads 127

Authors: Nasser Alsadoun

Abstract:

Today's companies in Saudi Arabian capital market must comply with strict criteria and adhere to rigid corporate governance rules and continuous disclosure requirements. Unlike other regulators in the region, decision makers of the Capital Market Authority (hereafter CMA) of Saudi Arabia believes that the announcements of economic sanctions and penalties for non-compliance firms will foster more effective regulatory compliance and hence improve the quality of financial reporting. An implied argument put forward by the opponents, however, states that such penalties are unnecessary and stated to be onerous for non-compliance firms. Over that last years, the CMA has publicly announced several economic fines levied on some listed companies for their failing to comply with corporate governance and continuous disclosure regulation clauses, with the amount of fine levied ranges between 50,000 SR to 100,000 SR for each failing. Economic theory suggests that rational investors make decisions based on a cost-benefit principal. The regulatory intervention made by CMA on the announcement of economic sanctions has been costly to the society (economy) hoping that it improves the transparency of financial statements. It is argued, therefore, that threat of regulators and economic sanctions will provide incentives for firms’ managers to report more relevant and reliable accounting information, and the benefit of such announcements is likely to be reflected in the context of the quality of the financial reports. Yet, the economic consequences of the revealed fines announcement for non-compliance firms in Saudi Arabian market have not been examined. Thus, this study attempts to empirically examine whether market participants are pricing the supposed benefits of rigid governance and disclosure rules in the Saudi market. The study employs an event study methodology to assess the impact of CMA economic sanctions announcements on the market price of non-compliance firms. The study also estimates and examines bid–ask spread behavior of violated firms around the CMA announcements. The findings indicate that the CMA fines announcements for failing to comply with governance and disclosure rules do not appear to play any significant role in securities pricing. In addition, tests of bid-ask behavior does not indicate any significant increases in information asymmetry surrounding these announcements. While the CMA has developed many goals to increase the awareness of listed companies with the best governance and disclosure practices, it seems they have to develop more goals to improve market efficiency and increase investors and public awareness.

Keywords: governance and disclosure violations, financial reporting quality, regulatory intervention, market efficiency

Procedia PDF Downloads 291

Authors: Andabayeva Dina, Avakova Raushangul, Kortabayeva Gulzhamal, Rakhymbay Bauyrzhan

Abstract:

This article attempts to give an overview of the language situation and language planning in Kazakhstan. Statistical data is given and excursion to history of languages in Kazakhstan is done. Particular emphasis is placed on the national- cultural component of the Kazakh people, namely the impact of the specificity of the Kazakh language on ethnic identity. Language is one of the basic aspects of national identity. Recently, in the Republic of Kazakhstan purposeful work on language development has been conducted. Optimal solution of language problems is a factor of interethnic relations harmonization, strengthening and consolidation of the peoples and public consent. Development of languages - one of the important directions of the state policy in the Republic of Kazakhstan. The problem of the state language, as part of national (civil) identification play a huge role in the successful integration process of Kazakh society. And quite rightly assume that one of the foundations of a new civic identity is knowing Kazakh language by all citizens of Kazakhstan. The article is an analysis of the language situation in Kazakhstan in close connection with the peculiarities of cultural identity.

Keywords: Kazakhstan, mentality, language policy, ethnolinguistics, language planning, language personality

Procedia PDF Downloads 613

Authors: E. H. N. Gashti, M. Malaska, K. Kujala

Abstract:

The thermo-mechanical behaviour of concrete energy pile foundations with different single and double U-tube shapes incorporated was analysed using the Comsol Multi-physics package. For the analysis, a 3D numerical model in real scale of the concrete pile and surrounding soil was simulated regarding actual operation of ground heat exchangers (GHE) and the surrounding ambient temperature. Based on initial ground temperature profile measured in situ, tube inlet temperature was considered to range from 6°C to 0°C (during the contraction process) over a 30-day period. Extra thermal stresses and deformations were calculated during the simulations and differences arising from the use of two different systems (single-tube and double-tube) were analysed. The results revealed no significant difference for extra thermal stresses at the centre of the pile in either system. However, displacements over the pile length were found to be up to 1.5-fold higher in the double-tube system than the single-tube system.

Keywords: concrete energy piles, stresses, displacements, thermo-mechanical behaviour, soil-structure interactions

Procedia PDF Downloads 194

Authors: Elisa Pautasso, Matteo Castagno, Michele Osella

Abstract:

In the last decade, the emergence of new social needs as an effect of the economic crisis has stimulated the flourishing of business endeavours characterised by explicit social goals. Social start-ups, social enterprises or Corporate Social Responsibility operations carried out by traditional companies are quintessential examples in this regard. This paper analyses these kinds of initiatives in order to discover the main characteristics of social business models and to provide insights to social entrepreneurs for developing or improving their strategies. The research is conducted through the integration of literature review and case study analysis and, thanks to the recognition of the importance of both profits and social impacts as the key success factors for a social business model, proposes a framework for identifying indicators suitable for measuring the social impacts generated.

Keywords: business model, case study, impacts, social business

Procedia PDF Downloads 323

Authors: Evgeni Baratashvili, Nino Pailodze, Ana Bolkvadze, Giorgi Sulashvili

Abstract:

At the present stage in our country intensifies cooperation with different business cultures, actively developing the process of implementation of Georgia in the global business system that requires us to develop a specific concept, including in the field of management. With the entry of Georgia into the international community, exchange of experience will only intensify. It is clear that the achievement of goals such as the doubling of the National Product increase the competitiveness of Georgian enterprises can’t be recorded without foreign management experience. On the other hand, knowledge of the areas of comparative management can be used in the process of choosing the path of socio-economic development of Georgia.

Keywords: business cultures, comparative management, corporate culture, Georgian business, Anglo-Saxon model, Georgian civilization, anti-capitalist mentality, culture management

Procedia PDF Downloads 455

Authors: Seyed Abolhasan Naeini, Mohammad Hosseinzade

Abstract:

Settlement and bearing capacity of a piled raft are the two important issues for the foundations of the structures built on coastal areas from the geotechnical engineering point of view. Strip piled raft as a load carrying system could be used to reduce the possible extensive consolidation settlements and improve bearing capacity of structures in soft ground. The aim of this research was to evaluate the efficiency of strip piled raft embedded in soft clay. The efficiency of bearing capacity of strip piled raft foundation is evaluated numerically in two cases: in first case, the cap is placed directly on the ground surface and in the second, the cap is placed above the ground. Regarding to the fact that the geotechnical parameters of the soft clay are considered at low level, low bearing capacity is expected. The length, diameter and axe-to-axe distance of piles are the parameters which varied in this research to find out how they affect the bearing capacity. Results indicate that increasing the length and the diameter of the piles increase the bearing capacity. The complementary results will be presented in the final version of the paper.

Keywords: soft clay, strip piled raft, bearing capacity, settlement

Procedia PDF Downloads 291

Authors: Bita Mashayekhi, Hamid Kalhornia

Abstract:

One of the most important roles of financial reporting is improving the firms’ investment decisions; however, there is not much supporting evidence for this claim in emerging markets like Iran. In this study, the effect of financial reporting transparency in investment efficiency of Iranian firms has been investigated. In order to do this, 336 listed companies on Tehran Stock Exchange (TSE) has been selected for time period 2012 to 2015 as research sample. For testing our main hypothesis, we classified sample firms into two groups based on their deviation from expected investment: under-investment and over-investment cases. The results indicate that there is positive significant relationship between financial transparency and investment efficiency. In the other words, transparency can mitigate both underinvestment and overinvestment situations.

Keywords: corporate governance, disclosure, investment decisions, investment efficiency, transparency

Procedia PDF Downloads 351