Search results for: financial wellbeing

Authors: Najlae Bendou, Jean-Jacques Lilti, Khalid Elbadraoui

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In this paper, we examine stock market integration of emerging markets around the global financial turmoil of 2007-2008. Following Pukthuanthong and Roll (2009), we measure the integration of 46 emerging countries using the adjusted R-square from the regression of each country's daily index returns on global factors extracted from the covariance matrix computed using dollar-denominated daily index returns of 17 developed countries. Our sample surrounds the global financial crisis and ranges between 2000 and 2018. We analyze results using four cohorts of emerging countries: East Asia & Pacific and South Asia, Europe & Central Asia, Latin America & Caribbean, Middle East & Africa. We find that the level of integration of emerging countries increases at the commencement of the crisis and during the booming phase of the business cycles. It reaches a maximum point in the middle of the crisis and then tends to revert to its pre-crisis level. This pattern tends to be common among the four geographic zones investigated in this study. Finally, we investigate the determinants of stock market integration of emerging countries in our sample using panel regressions. Our results suggest that the degree of stock market integration of these countries should be put into perspective by some macro-economic factors, such as the size of the equity market, school enrollment rate, international liquidity level, stocks traded volume, tax revenue level, imports and exports volumes.

Keywords: correlations, determinants of integration, diversification, emerging markets, financial crisis, integration, markets co-movement, panel regressions, r-square, stock markets

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Authors: Mohammed Alghamdi, Ghanem Al-Ghamdi

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The Governorate of Al-Baha is known for a history of farming that focused on plant products such as Date Palm, olives, figs, pomegranate and cereals as well as raising cattle, sheep, goats and to some extent camels for many decades. However, farmers have been facing with very significant natural and artificial challenges lately. The goal of this study was to determine the most significant challenges facing farmers in the Governorate of Al-Baha. Sixty farms were surveyed during the year of 2013. Farm survey focused on the farm management, farm financial status and governmental support. Our results showed that most farms were dedicated to farming with limited number of farms used parts of its premises for recreation. About 90% of farms were engaged in exclusively farming business. The financial status was good in most of the farms (80%), stable in 16% and hardly standing in less than 5%. Nearly 60% of the farms marketed 1-3 products and 23% marketed up to 6 products, 14% of the farms marketed up to 9 products and 4% marketed more than 9 products. Less than 14% had a chance to market their products over seven times per year while about 11% market their products and 32% of farms market 3-4 per year and 43% of farms market 1-2 per year. Our data showed that most farmers are in good financial status producing healthy food.

Keywords: farming system, Al-Baha, healthy food, Saudi Arabia

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Authors: Deden Misbahudin Muayyad, Lavlimatria Esya

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Up to the month of June 2015, Indonesia has 12 Islamic Commercial Banks, 22 Islamic Business Unit, 327 offices in 33 provinces. The initial purpose of the establishment of Islamic financial institutions is to achieve and the welfare of the people in this world and in the hereafter. To realize these goals, the Islamic financial institutions in every kind of aspect of product development and in terms of operations should be based on maqashid sharia, namely keeping the faith, keep the soul, keep the sense, maintain the property, keeping the offspring. To see whether Islamic banking grounded in maqasid sharia, the Islamic banking performance measurements based on the principles of maqasid sharia. Banking performance measurement is not only focusing on profit and other financial measures, but put other values of banks reflects the size of the benefit of non-profit in accordance with the bank's objectives. The measurement using the measurement of financial performance called maqasid sharia index. Maqasid syariah index is a model of Islamic banking performance measurement in accordance with the objectives and characteristics of Islamic banking. Maqasid syariah index was developed based on three main factors, namely the education of individuals, the creation of justice, the achievement of well-being, where the three factors were in accordance with the common goal of maqasid sharia is achieving prosperity and avoid evil. Maqasid syariah index shows that maqasid sharia approach can be a strategic alternative approach to describe how good the performance of the banking system and it can be implemented in the comprehensive policy strategy. This study uses a model of performance measurement framework based on maqasid syariah, in addition to financial performance measures that already exist. Methods to develop the idea of a performance measurement framework of Islamic banking by maqasid sharia is the Sekaran method. Operationally, the methods have now able to describe the elements that will be measured by this study. This is done by observing the behavior of the dimensions illustrated through a concept that has been set. These dimensions translate into derivative elements that can be observed and more scalable, so it can establish measurement indices. This research is descriptive quantitative. Techniques are being made to collect data in this paper is by using purposive sampling method, with 12 Islamic Commercial Banks that qualify as research samples. The financial data taken at 12 banks was sourced from the annual financial statements the period 2008 to 2012 with consideration of the database and ease of access to data. The ratio measured in this study only 7 ratio used in determining the performance of Islamic banking, namely: four ratio refers to the sharia objectives related to education. three ratio while again referring to sharia objectives related to the achievement of welfare. While other ratios associated with justice can not be used in this study because of the limited data used. Total overall calculation of performance indicators and performance ratios on each goal for each bank describes the maqasid syariah index.

Keywords: Islamic banking, Maslahah, maqashid syariah, maqashid syariah index

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Authors: Raif Parlakkaya, Huseyin Cetin, Halil Akmese, Mesut Murat Adabali

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As the economies of other countries in the Mediterranean Basin, the tourism sector in our country has a high denominator in economics. Tourism businesses, which are building blocks of tourism, sector faces with a variety of problems during their activities. These problems faced make business efficiency and competition conditions of the businesses difficult. Most of the problems faced by the tourism businesses and the information of consumers about consumers’ rights were used in this study, which is conducted to determine the problems of tourism businesses in the Central Anatolia Region. It is aimed to contribute the awareness of staff and executives working at tourism sector and to attract attention of businesses active concurrently with tourism sector and legislators.

Keywords: financial problems, the problems of tourism businesses, tourism businesses, tourism sector in Turkey

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Authors: Youssef El Makhrout, Aude Pommeret, Tunç Durmaz

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This paper analyses the consequences of a heat pump on the optimal behavior of a prosumer. A theoretical microeconomic model is developed for household heating and electricity consumption to analyze the profitability of installing a solar PV system with a heat pump, battery storage, and grid use. The aim is to present the optimal scenario of investment in renewable energy equipment to cover domestic and heating needs. Simulation data of a French house of 170m² in Chambery are used in this paper. The house is divided into 5 zones with 3 heated zones of 89.4 m² occupied by two people. The analysis is based on hourly data for one year, from 00:00 01/01/2021 to 23:00 31/12/2021. Results indicate that without taking the cost of materials and no financial aid, the most profitable scenario for a household is when he owns solar panels, a heat pump, and battery storage. However, with the costs and financial aid of the French government for energy renovation, the net economic surplus change and the profitability during 20 years are important when the household decides to add a heat pump to existing solar panels. In this scenario, the household can realize 35.84% as a surplus change improvement, but this cannot cover all installation costs. The household can get benefits and cover all installation costs after exploiting financial support in the case of adopting a heat pump. The investment in a battery is still not profitable because of its high cost and the lack of financial aid. Some public policy recommendations are proposed, especially for solar panels and battery storage.

Keywords: household’s heating, prosumer, electricity consumption, renewable energy, welfare gain, comfort, solar PV, heat pumps, storage

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Authors: Hussain Ali Bekhet, Tuan Ab. Rashid Bin Tuan Abdullah, Tahira Yasmin

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The strong relationship between energy consumption and economic growth is widely recognised. Most countries’ energy demand declined during the economic depression known as the Global Financial Crisis (GFC) of 2008–2009. The objective of the current study is to investigate the energy consumption and performance of Malaysia’s manufacturing sectors during the GFC. We applied the output multiplier approach, which is based on the input-output model. Two input-output tables of Malaysia covering 2005 and 2010 were used. The results indicate significant changes in the output multipliers of the manufacturing sectors between 2005 and 2010. Moreover, the energy-to-manufacturing sectors’ output multipliers also decreased during the GFC due to a decline in export-oriented industries during the crisis. The increasing importance of the manufacturing sector to the development of Malaysian trade resulted in a noticeable decrease in the consumption of each energy sector’s output, especially the electricity and gas sector. Based on the research findings, the Malaysian government released several policy implementations in the form of stimulus packages to enhance these sectors’ performance and generally improve the Malaysian economy.

Keywords: global financial crisis, input-output model, manufacturing, output multipliers, energy, Malaysia

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Authors: Nihal Chandratilaka Matara Arachchige, Nishantha Sampath Punichihewa

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Intellectual property (IP) assets are the ‘crown-jewels’ of innovation-driven businesses in the knowledge-based economy. In that sense, IP rights such as patents, trademarks and copyrights afford enormous economic opportunities to an enterprise, especially Small and Medium Enterprise (SME). As can be gleaned from the latest statistics, the domestic industries in Sri Lanka are predominantly represented by SMEs. Undeniably, in terms of economic contribution, the SME sector is considered to be the backbone of the country’s ‘real economy’. However, the SME sector in Sri Lanka faces number of challenges. One of the nearly-insurmountable-hurdles for small businesses is the access to credit facilities, due to the lack of collateral. In the eyes of law, the collateral is something pledged as security for repayment in the event of default. Even though the intellectual property rights are used as collateral in order to facilitate obtaining credit for businesses in number of Asian jurisdictions, financial institutions in Sri Lanka are extremely reluctant to accept IP rights as collateral for granting financial resources to SMEs. Against this backdrop, this research investigates from a legal perspective reasons for not accepting IP rights as collateral when granting loans for SMEs. Drawing emerging examples from other jurisdiction, it further examines the inadequacies of existing legal framework in relation to the use of IP rights as collateral. The methodology followed in this paper is qualitative research. Empirical research and analysis concerning the core research question are carried out by conducting in-depth interviews with stakeholders, including leading financial institutions in Sri Lanka.

Keywords: intellectual property assets, SMEs, collaterals financial facilities, credits

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Authors: Amira Kaddour

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To curb the problem of liquidity in times of financial crises, two cases arise; the Bailout or Bailin, two opposite choices that elicit the analysis of their effect on moral hazard. This paper attempts to empirically analyze the effect of these two types of events on the behavior of investors. For this end, we use the Emerging Market Bonds Index (EMBI-JP Morgan), and its excess of return, to detect the change in the risk premia through a Markov switching model. The results showed the transition to two types of regime and an effect on moral hazard; Bailout is an incentive of moral hazard, Bailin effectiveness remains subject of credibility.

Keywords: Bailout, Bailin, Moral hazard, financial crisis, Markov switching

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Authors: Ugbede Onalo, Mohd Lizam, Ahmad Kaseri, Otache Innocent

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Giving the paucity of studies on IFRS adoption and quality of banks accounting quality, particularly in emerging economies, this study is motivated to investigate whether the Nigeria decision to adopt IFRS beginning from 1 January 2012 is associated with high quality accounting measures. Consistent with prior literatures, this study measure quality of financial statement information using earnings measurement, timeliness of loss recognition and value relevance. A total of twenty Nigeria banks covering a period of six years (2008-2013) divided equally into three years each (2008, 2009, 2010) pre adoption period and (2011, 2012, 2013) post adoption period were investigated. Following prior studies eight models were in all employed to investigate earnings management, timeliness of loss recognition and value relevance of Nigeria bank accounting quality for the different reporting regimes. Results suggest that IFRS adoption is associated with minimal earnings management, timely recognition of losses and high value relevance of accounting information. Summarily, IFRS adoption engenders higher quality of banks financial statement information compared to local GAAP. Hence, this study recommends the global adoption of IFRS and that Nigeria banks should embrace good corporate governance practices.

Keywords: IFRS, SAS, quality of accounting information, earnings measurement, discretionary accruals, non-discretionary accruals, total accruals, Jones model, timeliness of loss recognition, value relevance

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Authors: Saad Bin Nasir

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The research will examine the role of corporate governance (CG) practices on firm’s financial performance. Population of this research will be manufacture sector of Pakistan. For the purposes of measurement of impact of corporate governance practices such as board size, board independence, ceo/chairman duality, will take as independent variables and for the measurement of firm’s performance return on assets and return on equity will take as dependent variables. Panel data regression model will be used to estimate the impact of CG on firm performance.

Keywords: corporate governance, board size, board independence, leadership

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Authors: Nisha Harry, Keshia Sing

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Orientation: The Multifactor Leadership Questionnaire (MLF) and the sense of coherence-29 (SCS) is an effective tools to assess the prevalence and underlying structures of empirically based taxonomies related to leadership and wellbeing. Research purpose: The purpose of the study was to test the psychometric properties of the SCS and Multifactor Leadership Questionnaire (MLQ) to screen for psychological wellness indices within the banking industry in South Africa. Motivation for the study: The contribution of these two instruments for the purpose of determining psychological wellness in a banking work environment is unique. Research design, approach, or method: The sample consisted of (N = 150) financial staff employed in a South African banking organisation. The age of the sample was: 37% (30 -40 yrs), 31% (20-30 yrs), 26% (40- 50 yrs), and 6% (50+yrs), of which 52% were males, 48% were females. The white race group was the majority at 29%, African at 26%, Coloured at 23%, and Indian was 22%. Main findings: Results from the exploratory factor analysis revealed a two-factor structure as the most satisfactory. Confirmatory factor analyses revealed the two-factor model displayed better good of-fit indices. Practical implications: The factor structure of the Sense of Coherence-29 scale (SCS), and the Multifactor Leadership Questionnaire (MLQ), have a value-added focus to determine psychological wellness within banking staff. It is essential to take into account these constructs when developing employee wellness interventions. Contribution/value add: Understanding the psychometric properties of the SCS, the self-reported form, and the MLQ questionnaire contributes to screening psychological wellness indices such as coping within the banking industry in a developing country like South Africa. Leaders are an important part of the implementation process of organisational employee wellness practices.

Keywords: factorial structure, leadership, measurement invariance, psychological wellness, sense of coherence

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Authors: Stanley Fore

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The case study company is one of the leading newsprint companies in South Africa. The company has achieved this status through operational expansion, diversification and investing in cutting-edge technology. They have a reputation for the highest quality and personalised service that transcends borders and industries. The company offers a wide variety of small and large scales printing services. The company is faced with the challenge of significant waste production during normal operations. The company generates 1200 kg of plastic waste and 60 – 70 tonnes of paper waste per month. The company operates a waste management process currently, whereby waste paper is sold, at low cost, to recycling firms for further processing. Having considered the quantity of waste being generated, the company has embarked on a venture to find a more profitable solution to its current waste production. As waste management and recycling is not the company’s core business, the aim of the venture is to implement a secondary profitable waste process business. The venture will be expedited as a strategic project. This research aims to estimate the financial feasibility of a selected solution as well as the impact of non-financial considerations thereof. The financial feasibility is analysed using metrics such as Payback period; internal rate of return and net present value.

Keywords: waste, printing industry, up-cycling, management

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Authors: Ashleigh Cicconi

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Teachers may not have access to necessary and effective strategies for managing stress, trauma, and emotional exhaustion, which can lead to burnout. This practice-based research focused on the exploration of teacher well-being through participation in a wellness program in order to mitigate high stress levels and feelings of burnout. The purpose of this qualitative research was to explore how a multimodal, trauma-informed yoga and arts-based mindfulness program impacted stress levels and overall well-being for teachers in a school setting. The case study approach was used to investigate participant perceptions of interactions between multimodal accessibility, a trauma-informed wellness program, and teacher well-being. A sample size of 10 teachers employed full-time at a public high school in the Mid-Atlantic region were recruited via email correspondence to participate in the eight-week wellness program. Data were triangulated across semi-structured interviews, journal entries, and focus group guided questions, and transcripts were uploaded into the NVivo software application for thematic analysis. Data showed perceptions of improvements in overall well-being from participation in the wellness program and that utilizing trauma-informed practices may be an effective coping skill for stress. The multimodal design of the program was perceived to positively impact participation and accessibility to wellness strategies. Findings from this study suggest that the inclusion of trauma-informed practices within a wellness program may be effective for managing stress and trauma experienced by teachers, thereby aiding in improvement in overall well-being. Findings also suggest that multimodality may be effective for increasing participation in and accessibility to wellness strategies.

Keywords: trauma informed practices, wellness program, teacher wellbeing, accessible program, multimodal

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Authors: Gultekin Gurcay

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It is known that the most crucial influence of the psychological, social and emotional factors that affect any human behavior is to corrupt the rational decision making mechanism of the individuals and cause them to display irrational behaviors. In this regard, the social context of human beings influences the rationality of our decisions, and people tend to display different behaviors when they were alone compared to when they were surrounded by others. At this point, the interaction and interdependence of the behavioral finance and economics with the area of social psychology comes, where intentions and the behaviors of the individuals are being analyzed in the actual or implied presence of others comes into prominence. Within the context of this study, the prevalent theories of behavioral finance, which are The Prospect Theory, The Utility Theory Given Uncertainty and the Five Axioms of Choice under Uncertainty, Veblen’s Hidden Utility Theory, and the concept of ‘Overreaction’ has been examined and demonstrated; and the meaning, existence and validity of these theories together with the social context has been assessed. Finally, in this study the behavior of the individuals in financial crisis situations where the majority of the society is being affected from the same negative conditions at the same time has been analyzed, by taking into account how individual behavior will change according to the presence of the others.

Keywords: conditional variance coefficient, financial crisis, garch model, stock market

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Authors: Arjun S.

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This study examines the impact of corporate governance on financial performance of Indian banks during five years (from 2010 to 2015). Based on 218 observations, a quantitative method of data analysis was employed to investigate the relevance of corporate governance mechanisms. The first finding reveals a significant and negative impact of board size on the performance of Indian banks. The research also finds a significant and negative relationship between CEO duality and bank performance. Finally, the correlation results reveal that there is a significant and negative correlation of Bank size and bank performance.

Keywords: Indian banks, financial performance, corporate governance, banksize

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Authors: Naveed Ghani, Samreen Javed

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In today’s heterogeneous network environment, there is a growing demand for distrust clients to jointly execute secure network to prevent from malicious attacks as the defining task of propagating malicious code is to locate new targets to attack. Residual risk is always there no matter what solutions are implemented or whet so ever security methodology or standards being adapted. Security is the first and crucial phase in the field of Computer Science. The main aim of the Computer Security is gathering of information with secure network. No one need wonder what all that malware is trying to do: It's trying to steal money through data theft, bank transfers, stolen passwords, or swiped identities. From there, with the help of our survey we learn about the importance of white listing, antimalware programs, security patches, log files, honey pots, and more used in banks for financial data protection but there’s also a need of implementing the IPV6 tunneling with Crypto data transformation according to the requirements of new technology to prevent the organization from new Malware attacks and crafting of its own messages and sending them to the target. In this paper the writer has given the idea of implementing IPV6 Tunneling Secessions on private data transmission from financial organizations whose secrecy needed to be safeguarded.

Keywords: network worms, malware infection propagating malicious code, virus, security, VPN

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Authors: Vasoontara Yiengprugsawan, Sam-ang Seubsman

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As Thais live longer, caregivers will become even more important to social and healthcare systems. Commonly reported in many low and middle‐income countries in Asia, formal social welfare services to support caregivers are lacking and informal family support will be required for all levels of care. In 2005, 87,151 open‐university adults were recruited to the Thai Cohort Study, with the majority aged between 25 and 39 years, and residing nationwide. At the 4‐year follow up in 2009 (n=60569) and the 8‐year follow‐up in 2013 (n=42785), prospective cohort participants were asked if they provide care for chronically ill, disabled, or frail family members. Among Thai cohort members reporting between 2009 and 2013, approximately 56% were not caregivers in either year, 24.5% reported providing care in 2009 only, 8.6% in 2013 only, and 10.6% reported providing care at both time points. Caregivers in the cohort reported providing financial support, help with shopping, emotional support, and assist with daily activities. Kessler 6 psychological distress scale, measured in both 2009 and 2013, was used as the primary outcome of a relationship between caregiving status and mental health. Using multivariate logistic regression, our 4‐year longitudinal findings revealed that cohort members who reported providing care at both time points were 1.4 to 1.6 times more likely to report high psychological distress than non‐caregivers, after accounting for potential covariates. With increasing needs for informal care provided by family members, the future health and social welfare system will need to provide adequate support to caregivers (e.g., respite care, clinical support and information for the family, and awareness of mental health among caregivers).

Keywords: family caregivers, psychological distress, prospective cohort, longitudinal study, Thailand

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Authors: Dona Primasari

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This study examines the antecedent variables of Government Financial Acccounting System (SAKD) implementation and its consequence. The antecedent variables are: decentralization of decision making, adaptation, and the manager support. The consequences are satisfaction and performance officer. This research represents the empirical test which used convenience sampling technics in data collection. The data were collected from 167 officers of local government in the Regional Coordinating Agency for Development of Cross County/City Region III Central Java Province. Data analysis used Structural Equation Model (SEM) with the AMOS 18.0 program. The result of hypothesis examination indicates that six raised hypothesis are accepted and two hypothesis are rejected.

Keywords: decentralization of decision making, adaptation officer, manager support, implementation of Government Accounting Financial System (SAKD), satisfaction and performance officer

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Authors: S. Srinivas Rao, Pallavi Chitnis, Himanshu Prajapati

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The green building movement in India commenced in 2003. Since then, more than 4,300 projects have adopted green building concepts. For last 15 years, the green building movement has grown strong across the country and has resulted in immense tangible and intangible benefits to the stakeholders. Several success stories have demonstrated the tangible benefit experienced in green buildings. However, extensive data interpretation and qualitative analysis are required to report the intangible benefits in green buildings. The emphasis is now shifting to the concept of people-centric design and productivity, health and wellbeing of occupants are gaining importance. This research was part of World Green Building Council’s initiative on 'Better Places for People' which aims to create a world where buildings support healthier and happier lives. The overarching objective of this study was to understand the perception of users living and working in green buildings. The study was conducted in twenty-five IGBC certified green buildings across India, and a comprehensive questionnaire was designed to capture occupant’s perception and experience in the built environment. The entire research focussed on the eight attributes of healthy buildings. The factors considered for the study include thermal comfort, visual comfort, acoustic comfort, ergonomics, greenery, fitness, green transit and sanitation and hygiene. The occupant’s perception and experience were analysed to understand their satisfaction level. The macro level findings of the study indicate that green buildings have addressed attributes of healthy buildings to a larger extent. Few important findings of the study focussed on the parameters such as visual comfort, fitness, greenery, etc. The study indicated that occupants give tremendous importance to the attributes such as visual comfort, daylight, fitness, greenery, etc. 89% occupants were comfortable with the visual environment, on account of various lighting element incorporated as part of the design. Tremendous importance to fitness related activities is highlighted by the study. 84% occupants had actively utilised sports and meditation facilities provided in their facility. Further, 88% occupants had access to the ample greenery and felt connected to the natural biodiversity. This study aims to focus on the immense advantages gained by users occupying green buildings. This will empower green building movement to achieve new avenues to design and construct healthy buildings. The study will also support towards implementing human-centric measures and in turn, will go a long way in addressing people welfare and wellbeing in the built environment.

Keywords: health and wellbeing, green buildings, Indian green building council, occupant’s satisfaction

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Authors: Ahmad Alqatan

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Purpose: The purpose of this study is to analyze how the adoption of cloud accounting systems influences the governance practices and performance of boards of directors in MENA countries. The research aims to identify the benefits and challenges associated with cloud accounting and its role in improving board efficiency and oversight. Methodology: This research employs a mixed-method approach, combining quantitative surveys and qualitative interviews with board members and financial officers from a diverse range of companies in the MENA region. The quantitative data is analyzed to determine patterns and correlations, while qualitative insights provide a deeper understanding of the contextual factors influencing cloud accounting adoption and its impacts. Findings: The findings indicate that cloud accounting significantly enhances the decision-making capabilities of boards by providing real-time financial information and facilitating better communication among board members. Companies using cloud accounting reports improved financial oversight and more timely and accurate financial reporting. However, the research also identifies challenges such as cybersecurity concerns, resistance to change, and the need for ongoing training and support. Practical Implications: The study suggests that MENA companies can benefit from investing in cloud accounting technologies to improve board governance and strategic decision-making. It highlights the importance of addressing cybersecurity issues and providing adequate training for board members to maximize the advantages of cloud accounting. Originality: This research contributes to the limited literature on cloud accounting in the MENA region, offering valuable insights for policymakers, business leaders, and academics. It underscores the transformative potential of cloud accounting for enhancing board performance and corporate governance in emerging markets.

Keywords: cloud accounting, board of directors, MENA region, corporate governance, financial transparency, real-time data, decision-making, cybersecurity, technology adoption

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Authors: Parisa Golbayani, Dan Wang, Ionut¸ Florescu

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In this work we implement machine learning techniques to financial statement reports in order to asses company’s credit rating. Specifically, the work analyzes the performance of four neural network architectures (MLP, CNN, CNN2D, LSTM) in predicting corporate credit rating as issued by Standard and Poor’s. The paper focuses on companies from the energy, financial, and healthcare sectors in the US. The goal of this analysis is to improve application of machine learning algorithms to credit assessment. To accomplish this, the study investigates three questions. First, we investigate if the algorithms perform better when using a selected subset of important features or whether better performance is obtained by allowing the algorithms to select features themselves. Second, we address the temporal aspect inherent in financial data and study whether it is important for the results obtained by a machine learning algorithm. Third, we aim to answer if one of the four particular neural network architectures considered consistently outperforms the others, and if so under which conditions. This work frames the problem as several case studies to answer these questions and analyze the results using ANOVA and multiple comparison testing procedures.

Keywords: convolutional neural network, long short term memory, multilayer perceptron, credit rating

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Authors: Concepcion Gonzalez-Concepcion, Maria Candelaria Gil-Fariña, Celina Pestano-Gabino

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We analyze six relevant economic and financial variables for the period 2000M1-2015M3 in the context of the Spanish economy: a financial index (IBEX35), a commodity (Crude Oil Price in euros), a foreign exchange index (EUR/USD), a bond (Spanish 10-Year Bond), the Spanish National Debt and the Consumer Price Index. The goal of this paper is to analyze the main relations between them by computing the Wavelet Power Spectrum and the Cross Wavelet Coherency associated with Morlet wavelets. By using a special toolbox in MATLAB, we focus our interest on the period variable. We decompose the time-frequency effects and improve the interpretation of the results by non-expert users in the theory of wavelets. The empirical evidence shows certain instability periods and reveals various changes and breaks in the causality relationships for sample data. These variables were individually analyzed with Daubechies Wavelets to visualize high-frequency variance, seasonality, and trend. The results are included in Proceeding 20th International Academic Conference, 2015, International Institute of Social and Economic Sciences (IISES), Madrid.

Keywords: economic and financial variables, Spain, time-frequency domain, wavelet coherency

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Authors: Stephanie Hewitt, Leila Sheldrick, Weston Baxter

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Multidisciplinary by nature, design research brings together varying research fields to answer globally significant questions. Emotional design, a field which helps us create products that influence people’s behaviour, and sports psychology, containing a growing field of recent research which focuses on understanding the emotions experienced through sport and the effects this has on our health and wellbeing, are two research fields that can be combined through design research to tackle global physical inactivity. The combination of these research fields presents an opportunity to build new tools and methods that could help designers create new interventions to promote positive behaviour change in the form of physical activity uptake, ultimately improving people’s health and wellbeing. This paper proposes a framework that can be used to develop new products and services that focus on not only improving the uptake and upkeep of physical activity but also helping people have a healthy emotional relationship with exercise. To develop this framework, a set of comprehensive maps exploring the relationship between human emotions and physical activity across a range of factors was created. These maps were then further evolved through in-depth interviews, which analysed the reasons behind the emotions felt, how physical activity fits into the daily routine and how important regular exercise is to people. Finally, to progress these findings into a design framework, a longitudinal study was carried out to explore further the emotional relationship people of varying sporting abilities have overtime with physical activity. This framework can be used to design more successful interventions that help people to not only become more active initially but implement long term changes to ensure they stay active.

Keywords: design research, emotional design, emotions, intervention, physical activity, sport psychology

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Authors: Sabrina Mortet

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The economic crisis, which struck the world economy in mid-2008, had an impact on migration in Europe, especially the employment situation of migrant workers. That’s why migrants tended to be the first to lose their jobs during the crisis, victims of the rule "last–in, first-out”. In the same context, the economic recession which affected the migration flows, immigration level has slowed while emigration has increased in some European countries. Since people go where jobs are, we will try to speak about the mobility of migrants after the crisis by focusing on return migration to see if migrants in the period of recession prefer going home or staying in the host country; and we will take Spain as a case of study, because it had attracted an extraordinarily high inflows of migration and it is one of the EU country which was hardly affected by the financial crisis.

Keywords: economic crisis, international migration, mobility, return migration, employement

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Authors: Tan Swee Liang

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This paper estimates bank and stock market efficiency associations with real per capita GDP growth by examining panel-data across three different regions using Panel-Corrected Standard Errors (PCSE) regression developed by Beck and Katz (1995). Data from five economies in ASEAN (Singapore, Malaysia, Thailand, Philippines, and Indonesia), five economies in Asia (Japan, China, Hong Kong SAR, South Korea, and India) and seven economies in OECD (Australia, Canada, Denmark, Norway, Sweden, United Kingdom U.K., and United States U.S.), between 1990 and 2017 are used. Empirical findings suggest one, for Asia-5 high bank net interest margin means greater bank profitability, hence spurring economic growth. Two, for OECD-7 low bank overhead costs (as a share of total assets) may reflect weak competition and weak investment in providing superior banking services, hence dampening economic growth. Three, stock market turnover ratio has negative association with OECD-7 economic growth, but a positive association with Asia-5, which suggest the relationship between liquidity and growth is ambiguous. Lastly, for ASEAN-5 high bank overhead costs (as a share of total assets) may suggest expenses have not been channelled efficiently to income generating activities. One practical implication of the findings is that policy makers should take necessary measures toward financial liberalisation policies that boost growth through the efficiency channel, so that funds are efficiently allocated through the financial system between financial and real sectors.

Keywords: financial development, banking system, capital markets, economic growth

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Authors: Minghua Chen, Rui Wang

Abstract:

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

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

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Authors: Márcia Aparecida Teixeira

Abstract:

Sports, in particular football, boosts considerably the financial market of a certain locality, be it city or even a country. The financial transactions involving this medium stand out from other existing businesses, such as small industries. Strategically, social networks are inserted in this sporting environment, in order to promote and attract new fans of this modality. The present study analyzes the use of social networks in Sports Marketing with a focus on football. For the object of this study, it was chosen a specific club, the Club Atlético Mineiro, a Brazilian club of great national notoriety. The social networks on focus will be: Facebook, Twitter, and Instagram. It will be analyzed the content and frequency of the posts, reception of the target public in relation to the content made available and its feedback.

Keywords: social network, sport, strategy, marketing

Procedia PDF Downloads 388

Authors: Jolanta Jonak

Abstract:

Traditional classrooms are challenging for many students, but especially for students that learn differently due to cognitive makeup, learning preferences, or disability. These students often require different teaching approaches and learning opportunities to benefit from learning. Teachers frequently divert to using one teaching approach, the one that matches their own learning style. For instance, teachers that are auditory learners, likely default to providing auditory learning opportunities. However, if a student is a visual learner, he/she may not fully benefit from that teaching style. Based on research, students and their parents’ feedback, large numbers of students are not provided the type of education and types of supports they need in order to be successful in an academic environment. This eventually leads to not learning at an appropriate rate and ultimately leading to skill deficiencies and deficits. Providing varied learning approaches promote high academic and social-emotional growth of all students and it will prevent inaccurate Special Education referrals. Varied learning opportunities can be delivered for all students by providing Differentiated Instruction (DI). This type of instruction allows each student to learn in the most optimal way regardless of learning preferences and cognitive learning profiles. Using Differentiated Instruction will lead to a high level of student engagement and learning. In addition, experiencing success in the classroom, will contribute to increased social emotional wellbeing. Being cognizant of how teaching approaches impact student's learning, school staff can avoid inaccurate perceptions about the students’ learning abilities, unnecessary referrals for special education evaluations, and inaccurate decisions about the presence of a disability. This presentation will illustrate learning differences due to various factors, how to recognize them, and how to address them through Differentiated Instruction.

Keywords: special education, disability, differences, differentiated instruction, social emotional wellbeing

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Authors: Njeze Anthony

Abstract:

In the world economy, entrepreneurship is an outstanding venture. Failures in the businesses of over 70% of Entrepreneurs can be attributed to lack of proper planning. For an entrepreneur to succeed, there are some vital planning strategies that will come into play such as organizational, operational, financial and marketing plans. When an entrepreneur lacks the above mentioned, such an entrepreneur is bound to encounter a catastrophic failure. An entrepreneur with an adequate plan will examine his/her own goals, know why he is in business, look at the venture resource base, have a sound knowledge of his proposed venture and identify obstacles that will be surmounted to achieve the desired goals. This work is aimed at identifying the organizational, operational, financial and marketing impact of entrepreneurship in the world economy and as well the important issues in global entrepreneurship, possible obstacles, and solutions.

Keywords: economy, entrepreneurship, business, operation

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Authors: Seedwell Sithole

Abstract:

One of the persistent problems in accounting education is how to effectively support students’ learning. A promising technique to this issue is to investigate the extent that learning is determined by the design of instructional material. This study examines the academic performance of students using three instructional designs in financial accounting. Student’s performance scores and reported mental effort ratings were used to determine the instructional effectiveness. The findings of this study show that accounting students prefer graph and text designs that are integrated. The results suggest that spatially separated graph and text presentations in accounting should be reorganized to align with the requirements of human cognitive architecture.

Keywords: accounting, cognitive load, education, instructional preferences, students

Procedia PDF Downloads 151