Search results for: intellectual capital accounting

Authors: Huma Khan, Faiza Akhtar

Abstract:

The present study investigates the effects of burnout toward job performance and job satisfaction with the moderating role of hope and self-efficacy. Findings from 310 frontline employees of Pakistani commercial banks (Lahore, Karachi & Islamabad) disclosed burnout has negative significant effects on job performance and job satisfaction. Simple random sampling technique was used to collect data and inferential statistics were applied to analyzed the data. However, results disclosed no moderation effect of hope on burnout, job performance or with job satisfaction. Moreover, Data significantly supported the moderation effect of self-efficacy. Study further shed light on the development of psychological capital. Importance of the implication of the current finding is discussed.

Keywords: burnout, hope, job performance, job satisfaction, psychological capital, self-efficacy

Procedia PDF Downloads 141

Authors: Oduntan Kemi Olalekan

Abstract:

Nigeria as the largest economy in Africa is still in its developing stage as its economy cannot be termed developed; it is still in search of economic policy that will positively affect the life of majority of her citizenry. Several policies have been employed to take care of the situation prominent among which is Structural Adjustment Programme (SAP) of Babangida Administration but it could not rescue the economy. Non-interest Banking otherwise known as Islamic Banking has been suggested as a means of developing Nigerian economy as it will enable more Nigerian have access to working capital and contribute positively to the growth of her economy. The paper investigated the level of Nigeria economic development and gave an overview of economic policies since independence, traced the genesis of non-interest banking in Nigeria and made recommendations on the adoption of the policy as an antidote to Nigeria economic development.

Keywords: economic development, Nigerian economy, non-interest banking, working capital, Islamic banking.

Procedia PDF Downloads 391

Authors: Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze

Abstract:

Importance of management of legal entities under private law of which especially corporate management, as well as looking for ways of its improvement and perfection has become especially relevant in the twenty-first century, which was greatly contributed to by the global economic crisis. Some states have adopted Corporate Governance Codes; the European Union has set to work on a series of directives the main purpose of which is an improvement of corporate governance, provision of greater transparency and implementation of an effective control mechanism. This process is not yet completed, and various problematic issues associated with management of legal persons are still being debated among practitioner experts and scholars. Georgia is not an exception in this regard. The article discusses the legislative gaps, and in some cases, discrepancies having arisen in legal relationships under private law and having caused many practical problems. This especially applies to the management of capital companies.

Keywords: business entities, corporate management, capital public management, existing problems, legal discrepancies

Procedia PDF Downloads 285

Authors: Fujio Takata

Abstract:

When governments levy taxes on labor income on the basis of a balanced budget rule, two steady states in an economy exist, of which one can cause two movement patterns, namely, indeterminacy paths and a saddle path. However, in this paper, we assume an economy with divisible labor, in which labor adjustment is made by an intensive margin. We demonstrate that there indeed exist the two paths in the economy and that there exists a critical condition dividing them. This is proved by establishing the relationship between a finite elasticity of labor with regard to real wages and the share of capital in output. Consequently, we deduce the existence of an upper limit in the share of capital in output for indeterminacy to occur. The largest possible value of that share is less than 0.5698.

Keywords: balanced budget rule, divisible labor, labor income taxation, two movement patterns

Procedia PDF Downloads 163

Authors: N. Mesatywa

Abstract:

The aim of the article is to emphasize and motivate for the role of integrating cultures in institutions of learning. The article has used a literature review methodology. Findings indicate that cultures espouse immense social capital that can: facilitate and strengthen moral education that will help learners in mitigating moral decadence and HIV/AIDS; embrace and strengthen the tenets of peace and tranquility among learners from different backgrounds; can form education against xenophobia; can facilitate the process of cultural paradigm shift that will slow down cultural attrition and decadence; can bring back cultural strength, cultural revival, cultural reawakening and cultural emancipation, etc. The article recommends governments to finance cultural activities in institutions of learning; to allow cultural practitioners to be part and parcel of cultural education; and challenge people to pride in the social capital of their indigenous cultures.

Keywords: cultures, cultural practitioners, integration, traditional healers

Procedia PDF Downloads 459

Authors: Suhartono Suhartono

Abstract:

Issue of cost efficiency is then becoming pivotal point because public expect cost of banking operation reducing and benefited of consumers. This study examines the determinants of cost efficiency of banks operating in 8 member countries of the Association of Southeast Asian Nations (ASEAN). This study uses economics theory approach to examine the existence of economies of scale in the ASEAN Banking market especially on its impact on cost efficiency. We apply concept of average cost (AC) as a proxy for the cost efficiency. We find that economies of scale is existing in the banking market indicating scale and scope economies should be considered in the industrial policy. The stronger capital position is also positive to efficiency means stronger capitalized banks are more efficient. Bank that remunerates better tend to be more efficient as result economic capital effect.

Keywords: cost efficiency, ASEAN, economies of scale, issue of cost

Procedia PDF Downloads 379

Authors: Mauro Cristeche

Abstract:

This work begins with a very simple question: How does the State spend? Argentina is witnessing a process of growing nationalization of social life, so it is necessary to find out the explanations of the phenomenon on the specific dynamic of the capitalist mode of production in Argentina and its transformations in the last decades. Then the new question is: what happened in Argentina that could explain this phenomenon? Since the seventies, the capital growth in Argentina faces deep competitive problems. Until that moment the agrarian wealth had worked as a compensation mechanism, but it began to find its limits. In the meantime, some important demographical and structural changes had happened. The strategy of the capitalist class had to become to seek in the cheapness of the labor force the main source of compensation of its weakness. As a result, a tendency to worsen the living conditions and fragmentation of the working class started to develop, manifested by unemployment, underemployment, and the fall of the purchasing power of the salary as a highlighted fact. As a consequence, it is suggested that the role of the State became stronger and public expenditure increased, as a historical trend, because it has to intervene to face the contradictions and constant growth problems posed by the development of capitalism in Argentina. On the one hand, the State has to guarantee the process of buying the cheapened workforce and at the same time the process of reproduction of the working class. On the other hand, it has to help to reproduce the individual capitals but needs to ‘attack’ them in different ways. This is why the role of the State is said to be the general political representative to the national portion of the total social capital. What will be studied is the dynamic of the intervention of the Argentine State in the context of the particular national process of capital growth, and its dynamics in the last decades. What this paper wants to show are the main general causes that could explain the phenomenon of nationalization of the social life and how it has impacted the life conditions of the working class and the system of rights.

Keywords: Argentina, nationalization, public policies, rights, state

Procedia PDF Downloads 136

Authors: Batool Zarei

Abstract:

This study aims to answer this question whether control criterion with two elements of power and benefit which is introduced as 'control criterion of consolidation scope' in national and international standards of accounting in public sector (and also private sector) is efficient enough or not. The methodology of this study is comparative and the results of this research are significantly generalizable, due to the given importance to the sample of countries which were studied. Findings of this study states that in spite of pervasive use of control criterion (including 2 elements of power and benefit), criteria for determining the existence of control in public sector accounting standards, are not efficient enough to determine the consolidation scope of whole of government financial statements in a way that meet decision making and accountability needs of managers, policy makers and supervisors; specially parliament. Therefore, the researcher believes that for determining consolidation scope in public sector, in addition to economic view, it is better to pay attention to budgetary, legal and statistical concepts and also to practical and financial risk and define indicators for proving the existence of control (power and benefit) which include accountability relationships (budgetary relation, legal form and nature of activity). these findings also reveals the necessity of passing a comprehensive public financial management (PFM) legislation in order to redefine the characteristics of public sector entities and whole of government financial statements scope and review Statistics organizations and central banks duties for preparing government financial statistics and national accounts in order to achieve sustainable development and resilient economy goals.

Keywords: control, consolidation scope, public sector accounting, government financial statistics, resilient economy

Procedia PDF Downloads 258

Authors: Merry Pearl Rupinta, Rivika Alda

Abstract:

Inclusive education provides the same opportunity for all students regardless of the difficulties they encounter. Teaching English to learners with special education needs (LSENs) is a significant factor for learners to cope with the academic demands in the regular class. However, these special education (SPED) teachers lack specialized training to teach specific skills in English. Using purposive sampling, this study explored the lived experience of nine SPED teachers handling English to learners with intellectual disabilities from the four divisions of Region 10. An interview schedule, validated by experts, was used in conducting the investigation, where a semi-structured one-on-one interview was employed. The data were analyzed using Smith's (2009) five-step data analysis. The study highlighted themes on challenges in teaching English, coping strategies, adjusted classroom management, and inclusivity. The results suggest that SPED teachers' experience teaching English is a continuous and indefinite loop that continues until the primary goal of mainstreaming LSENs into the regular class is achieved. This study recommends that policymakers and curriculum developers focus their efforts on professional development through a series of training on various strategies and approaches in teaching English that can help SPED teachers provide a more effective and efficient teaching-learning experience.

Keywords: English language teaching, inclusive education, intellectual disability, special education

Procedia PDF Downloads 28

Authors: Matthias Nnadi

Abstract:

Using samples of 250 large listed firms by market capitalization in China and Hong Kong, we conducted empirical test to determine the impact of regulatory environment on reporting quality following IFRS convergence using three financial reporting measures; earning management, timely loss recognition and value relevance. Our results indicate that accounting data are more value relevant for Hong Kong listed firms than the Chinese A-share firms. The empirical results for timely loss recognition further reveal that there is a larger coefficient estimate on bad news earnings, which suggests that Chines A-share firms are more likely to report losses in a timely manner. The results support the evidence that substantial convergence of IFRS can improve financial reporting quality in a regulated environment such as China. This further supports the expectation that IFRS are relevant to China and has positive effect on its accounting practice and quality.

Keywords: reporting, quality, earning, loss, relevance, financial, China, Hong Kong

Procedia PDF Downloads 462

Authors: Rafal Morawczynski

Abstract:

The paper presents results of a study of technology angels in Poland, who are important for the development of the high technology industries. For entrepreneurs, they offer not only capital but also expertise, engagement, and networking. A technology angel is a relatively new type of investor who invests in high-tech start-ups and supports their founders (entrepreneurs) in the development process of a new venture. Conclusions are drawn from a comparison between 8 technology angels and 7 'classical' business angels. Results present features and behaviors of technology angels that distinguish them from traditional (typical, classic) business angels. As this type of investor actively cooperates with entrepreneurs, the study focuses mainly on their perception of venture founders and several aspects of this cooperation: perception of entrepreneurs’ characteristics by angels, correction of expectations toward corporate governance, and 'value adding' activities.

Keywords: business angels, entrepreneurs, Poland, start-up, technology entrepreneurship, venture capital

Procedia PDF Downloads 188

Authors: Amneh Alkurdi, Yasean Tahat, Hamzeh Almuali

Abstract:

Purpose: The primary objective of the present paper is to examine the impact of CG attributes, including the board size, independency, separation and managerial ownership) on firm dividend payouts policy; using a sample of 72 Jordanian listed companies for the period of 2007-2013. Methodology: The study does manually review the sample firm’s annual reports for data collection and use OLS regression to carry out this investigation. Findings: The findings indicate that CG attributes have a strong impact on dividend payouts policy. In particular, board size, independency and separation have had significant associations with dividends payouts indicating that such variables matter when determining on dividends which may mitigate the conflicts between stakeholders’ and managers’ interests. The results also indicate that managerial ownership has had no significant impact on the dividends policy suggesting that managers do not use the strength of their position to influence the dividends policy. Finally, the results show that firm size and profitability have had statistically positive associations with dividend payouts, while this was not the case for firm leverage and growth where significant and positive relationships were documented. Originality/implication: The current paper extends the extant literature in this field by investigating the impact of the board composition on dividends and provides some insights for policy makers in emerging markets.

Keywords: corporate governance, dividends payouts policy, jordan, accounting

Procedia PDF Downloads 192

Authors: Abraham Castellanos, Christophe Durville, Sophie Echenim

Abstract:

In this article, a portfolio optimization problem is performed in a Solvency II context: it illustrates how advanced optimization techniques can help to tackle complex operational pain points around the monitoring, control, and stability of Solvency Capital Requirement (SCR). The market SCR of a portfolio is calculated as a combination of SCR sub-modules. These sub-modules are the results of stress-tests on interest rate, equity, property, credit and FX factors, as well as concentration on counter-parties. The market SCR is non convex and non differentiable, which does not make it a natural optimization criteria candidate. In the SCR formulation, correlations between sub-modules are fixed, whereas risk-driven portfolio allocation is usually driven by the dynamics of the actual correlations. Implementing a portfolio construction approach that is efficient on both a regulatory and economic standpoint is not straightforward. Moreover, the challenge for insurance portfolio managers is not only to achieve a minimal SCR to reduce non-invested capital but also to ensure stability of the SCR. Some optimizations have already been performed in the literature, simplifying the standard formula into a quadratic function. But to our knowledge, it is the first time that the standard formula of the market SCR is used in an optimization problem. Two solvers are combined: a bundle algorithm for convex non- differentiable problems, and a BFGS (Broyden-Fletcher-Goldfarb- Shanno)-SQP (Sequential Quadratic Programming) algorithm, to cope with non-convex cases. A market SCR minimization is then performed with historical data. This approach results in significant reduction of the capital requirement, compared to a classical Markowitz approach based on the historical volatility. A comparative analysis of different optimization models (equi-risk-contribution portfolio, minimizing volatility portfolio and minimizing value-at-risk portfolio) is performed and the impact of these strategies on risk measures including market SCR and its sub-modules is evaluated. A lack of diversification of market SCR is observed, specially for equities. This was expected since the market SCR strongly penalizes this type of financial instrument. It was shown that this direct effect of the regulation can be attenuated by implementing constraints in the optimization process or minimizing the market SCR together with the historical volatility, proving the interest of having a portfolio construction approach that can incorporate such features. The present results are further explained by the Market SCR modelling.

Keywords: financial risk, numerical optimization, portfolio management, solvency capital requirement

Procedia PDF Downloads 117

Authors: Mikhail Gritskevich, Sebastian Hohenstein

Abstract:

The paper presents the results of a detailed assessment of several modern Reynolds Averaged Navier-Stokes (RANS) turbulence models for prediction of C3X vane film cooling at various injection regimes. Three models are considered, namely the Shear Stress Transport (SST) model, the modification of the SST model accounting for the streamlines curvature (SST-CC), and the Explicit Algebraic Reynolds Stress Model (EARSM). It is shown that all the considered models face with a problem in prediction of the adiabatic effectiveness in the vicinity of the cooling holes; however, accounting for the Reynolds stress anisotropy within the EARSM model noticeably increases the solution accuracy. On the other hand, further downstream all the models provide a reasonable agreement with the experimental data for the adiabatic effectiveness and among the considered models the most accurate results are obtained with the use EARMS.

Keywords: discrete holes film cooling, Reynolds Averaged Navier-Stokes (RANS), Reynolds stress tensor anisotropy, turbulent heat transfer

Procedia PDF Downloads 420

Authors: Jagul Huma Lashari, Arabella Bhutto

Abstract:

Last few years have shown increased an interest of researchers in knowledge and technology transfer. However, facts show fewer types of knowledge transfer practices in the developing countries. This article focuses on assessment transfer channels of academic research produced by highly qualified academicians working in universities in Sindh offering degrees in field of an Environment in Sindh Pakistan. The academic field has been chosen because in field of the environment there is alarming need of research into practice for sustainable development. Using case study approach; in this research qualitative interviews have been conducted from PhD faculty members working in the universities offering degrees in field of environment. Obtained data is analyzed using descriptive statistics and chi-square test with the help of statistical packages for social sciences (SPSS). Research explored 31 channels of academic knowledge transfer from detailed review of literature and exploratory interviews with participants. Identified knowledge transfer channels have been grouped together in 6 groups of knowledge transfer channels; As knowledge transfer through publications, networking, mobility of researchers, joint research, intellectual property and co-operations. Results revealed that academic knowledge have been transferred through publications, networking, and co-operation. However, less number of academic knowledge has been transferred through groups of knowledge transfer channels such as Intellectual Property and joint research.

Keywords: environment, research knowledge, transfer channels, universities

Procedia PDF Downloads 336

Authors: Claude Nsobya, Alice Moncaster, Karen Potter, Jed Ramsay

Abstract:

The shift in Flood Risk Governance (FRG) has moved away from traditional approaches that solely relied on centralized decision-making and structural flood defenses. Instead, there is now the adoption of integrated flood risk management measures that involve various actors and stakeholders. This new approach emphasizes people-centered approaches, including adaptation and learning. This shift to a diversity of FRG approaches has been identified as a significant factor in enhancing resilience. Resilience here refers to a community's ability to withstand, absorb, recover, adapt, and potentially transform in the face of flood events. It is argued that if the FRG merely focused on the conventional 'fighting the water' - flood defense - communities would not be resilient. The move to these people-centered approaches also implies that communities will be more involved in FRG. It is suggested that effective flood risk governance influences resilience through meaningful community involvement, and effective community engagement is vital in shaping community resilience to floods. Successful community participation not only uses context-specific indigenous knowledge but also develops a sense of ownership and responsibility. Through capacity development initiatives, it can also raise awareness and all these help in building resilience. Recent Flood Risk Management (FRM) projects have thus had increasing community involvement, with varied conceptualizations of such community engagement in the academic literature on FRM. In the context of overland floods, there has been a substantial body of literature on Flood Risk Governance and Management. Yet, groundwater flooding has gotten little attention despite its unique qualities, such as its persistence for weeks or months, slow onset, and near-invisibility. There has been a little study in this area on how successful community involvement in Flood Risk Governance may improve community resilience to groundwater flooding in particular. This paper focuses on a case study of a flood risk management project in the United Kingdom. Buckinghamshire Council is leading Project Groundwater, which is one of 25 significant initiatives sponsored by England's Department for Environment, Food and Rural Affairs (DEFRA) Flood and Coastal Resilience Innovation Programme. DEFRA awarded Buckinghamshire Council and other councils 150 million to collaborate with communities and implement innovative methods to increase resilience to groundwater flooding. Based on a literature review, this paper proposes a new paradigm for effective community engagement in Flood Risk Governance (FRG). This study contends that effective community participation can have an impact on various resilience capacities identified in the literature, including social capital, institutional capital, physical capital, natural capital, human capital, and economic capital. In the case of social capital, for example, successful community engagement can influence social capital through the process of social learning as well as through developing social networks and trust values, which are vital in influencing communities' capacity to resist, absorb, recover, and adapt. The study examines community engagement in Project Groundwater using surveys with local communities and documentary analysis to test this notion. The outcomes of the study will inform community involvement activities in Project Groundwater and may shape DEFRA policies and guidelines for community engagement in FRM.

Keywords: flood risk governance, community, resilience, groundwater flooding

Procedia PDF Downloads 70

Authors: Hamid Hanifi, Adel Azar, Alireza Booshehri

Abstract:

In order to know about the capability level of R & D units in automotive industry, it is essential that organizations always compare themselves with standard level and higher than themselves so that to be improved continuously. In this research, with respect to the importance of this issue, we have tried to present an assessment model for R & D capabilities having reviewed on new products development in automotive industry of Iran. Iran Khodro Company was selected for the case study. To this purpose, first, having a review on the literature, about 200 indicators effective in R & D capabilities and new products development were extracted. Then, of these numbers, 29 indicators which were more important were selected by industry and academia experts and the questionnaire was distributed among statistical population. Statistical population was consisted of 410 individuals in Iran Khodro Company. We used the 410 questionnaires for exploratory factor analysis and then used the data of 308 questionnaires from the same population randomly for confirmatory factor analysis. The results of exploratory factor analysis led to categorization of dimensions in 9 secondary dimensions. Naming the dimensions was done according to a literature review and the professors’ opinion. Using structural equation modeling and AMOS software, confirmatory factor analysis was conducted and ultimate model with 9 secondary dimensions was confirmed. Meanwhile, 9 secondary dimensions of this research are as follows: 1) Research and design capability, 2) Customer and market capability, 3) Technology capability, 4) Financial resources capability, 5) Organizational chart, 6) Intellectual capital capability, 7) NPD process capability, 8) Managerial capability and 9) Strategy capability.

Keywords: research and development, new products development, structural equations, exploratory factor analysis, confirmatory factor analysis

Procedia PDF Downloads 339

Authors: Xiaoshuang Jia, Huiling Feng, Li Niu, Wei Hai

Abstract:

Led by Humanistic Beijing Studies Center in Renmin University of China, My Peking Memory Project(MPMP) is a long-time digital memory project under guarantee of public participation to enable the cultural and intellectual memory of Beijing to be collected, organized, preserved and promoted for discovery and research. Taking digital memory as a new way, MPMP is an important part of Peking Memory Project(PMP) which is aimed at using digital technologies to protect and (re)present the cultural heritage in Beijing. The key outcome of MPMP is the co-building of a total digital collection of knowledge assets about Beijing. Institutional memories are central to Beijing’s collection and consist of the official published documentary content of Beijing. These have already fall under the archival collection purview. The advances in information and communication technology and the knowledge form social memory theory have allowed us to collect more comprehensively beyond institutional collections. It is now possible to engage citizens on a large scale to collect private memories through crowdsourcing in digital formats. Private memories go beyond official published content to include personal narratives, some of which are just in people’s minds until they are captured by MPMP. One aim of MPMP is to engage individuals, communities, groups or institutions who have formed memories and content about Beijing, and would like to contribute them. The project hopes to build a culture of remembering and it believes ‘Every Memory Matters’. Digital memory contribution was achieved through the development of the MPMP. In reducing barriers to digital contribution and promoting high public Participation, MPMP has taken explored the harvesting of transcribe service for digital ingestion, mobile platform and some off-line activities like holding social forum. MPMP has also cooperated with the ‘Implementation Plan of Support Plan for Growth of Talents in Renmin University of China’ to get manpower and intellectual support. After six months of operation, now MPMP have more than 2000 memories added and 7 Special Memory Collections now online. The work of MPMP has ultimately helped to highlight the important role in safeguarding the documentary heritage and intellectual memory of Beijing.

Keywords: digital memory, public participation, MPMP, cultural heritage, collection

Procedia PDF Downloads 169

Authors: S. Turkan

Abstract:

In this paper, the Turkey’s Top 500 Industrial Enterprises data in 2014 were analyzed by data envelopment analysis. Data envelopment analysis is used to detect efficient decision-making units such as universities, hospitals, schools etc. by using inputs and outputs. The decision-making units in this study are enterprises. To detect efficient enterprises, some financial ratios are determined as inputs and outputs. For this reason, financial indicators related to productivity of enterprises are considered. The efficient foreign weighted owned capital enterprises are detected via super efficiency model. According to the results, it is said that Mercedes-Benz is the most efficient foreign weighted owned capital enterprise in Turkey.

Keywords: data envelopment analysis, super efficiency, logistic regression, financial ratios

Procedia PDF Downloads 324

Authors: L. Pigon, S. Kot, J. K. Grabara

Abstract:

Nowadays, with organizations facing the challenges of increasing competitiveness, human capital accumulated by the organization is one of the elements that strongly differentiate between companies. Efficient management in the competition area requires to manage the competencies of their employees to be suitable to the market fluctuations. The aim of the paper was to determine how employee training to improve their competencies is verified. The survey was conducted among 37 respondents involved in selection of training providers and training programs in their enterprises. The results showed that all organizations use training survey as a basic method for evaluation of training effectiveness. Depending on the training contents and organization, the questionnaires contain various questions. Most of these surveys are composed of the three basic blocks: the trainer's assessment, the evaluation of the training contents, the assessment of the materials and the place of the organisation. None of the organization surveys conducted regular job-related observations or examined the attitudes of the training participants.

Keywords: human capital, competencies, training effectiveness, sale department

Procedia PDF Downloads 175

Authors: Mrigakshi Das

Abstract:

The private sector investments and quantum of money required in this sector critically hinges on the financial risk and returns the sector offers to providers of capital. Therefore, it becomes important to understand financial performance of hospitals. Financial Analysis is useful for decision makers in a variety of settings. Consider the small proprietary hospitals, say, Physicians Clinic. The managers of such clinic need the information that financial statements provide. Attention to Financial Statements of healthcare Organizations can provide answers to questions like: How are they doing? What is their rate of profit? What is their solvency and liquidity position? What are their sources and application of funds? What is their Operational Efficiency? The researcher has studied Financial Statements of 5 Private Healthcare Organizations in Guwahati City.

Keywords: not-for-profit organizations, financial analysis, ratio analysis, profitability analysis, liquidity analysis, operational efficiency, capital structure analysis

Procedia PDF Downloads 549

Authors: Fredrik Hartwig, Peter Lindberg

Abstract:

In 2004, the International Accounting Standards Board (IASB) issued new accounting standards for impairment testing of goodwill. IFRS 3 Business Combinations and IAS 36 Impairment of Assets prohibited amortization of acquired goodwill and instead required companies to test goodwill for impairment annually or more often if necessary. The goodwill impairment test is based on management’s judgement and estimations, making the impairment-only-approach subjective and unreliable. Management can use the discretion opportunistically by managing goodwill impairments. The IASB’s remedy to the reliability problem has been to demand transparent financial reports. IAS 36 paragraph 134 requires detailed disclosures regarding the impairment test in order to make potentially unreasonable assumptions and estimations visible. The disclosure requirements should thus (in theory) make it more difficult for management to ‘choose’ assumptions and estimations that suit an agenda. Whether the requirement to disclose detailed disclosures regarding the impairment test leads to less opportunism is however an empirical question. This work analyses whether one of the required disclosures in IAS 36 paragraph 134, the reported discount rate, differs from an independently estimated risk-adjusted discount rate. Estimates of discount rates that are either lower or higher than the independently estimated discount rate are here defined as opportunism. In the former case - i.e. when the reported discount rate is lower - the objective may be to avoid profit reducing impairment charges. In the latter case - i.e. when the reported discount rate is higher - the objective may be to reduce profits or take ‘big baths’. This paper differs in one important respect from previous similar studies, the majority of which are based on purely descriptive statistics; we use multivariate regression analysis to analyze what factors affect deviations between disclosed discount rates and independently estimated discount rates. The sample consists of Swedish and Finnish listed companies. Swedish and Finnish listed companies are analysed since the accounting oversight bodies differ between the two countries. The results show that discount rate deviations in Swedish and Finnish listed companies are significantly related to accounting oversight, size and industry but not financial risk, business risk and goodwill intensity.

Keywords: discount rate, manipulation, goodwill impairment test, disclosures

Procedia PDF Downloads 129

Authors: Rochelle Yun Ge

Abstract:

University has played an active role in the country’s development in China. There has been an increasing research interest on the development of higher education cooperation, talent cultivation and attraction, and innovation in the regional development. The Triple Helix model, which indicates that regional innovation and development can be engendered by collaboration among university, industry and government, is often adopted as research framework. The research using triple helix model emphasizes the active and often leading role of university in knowledge-based economy. Within this framework, universities are conceptualized as key institutions of knowledge production, transmission and transference potentially making critical contributions to regional development. Recent research almost uniformly consistent in indicating the high-level research labours (i.e., doctoral, post-doctoral researchers and academics) as important actors in the innovation ecosystem with their cross-geographical human capital and resources presented. In 2019, the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) was officially launched as an important strategy by the Chinese government to boost the regional development of the Pearl River Delta and to support the realization of “One Belt One Road” strategy. Human Capital formation is at the center of this plan. One of the strategic goals of the GBA development is set to evolve into an international educational hub and innovation center with high-level talents. A number of policies have been issued to attract and cultivate human resources in different GBA cities, in particular for the high-level R&D (research and development) talents such as doctoral and post-doctoral researchers. To better understand the development of high-level talents hub in the GBA, more empirical considerations should be given to explore the approaches of talents cultivation and attraction in the GBA. What remains to explore is the ways to better attract, train, support and retain these talents in the cross-systems context. This paper aims to investigate the role of university in human capital development under China’s national agenda of GBA integration through the lens of universities and actors. Two flagship comprehensive universities are selected to be the cases and 30 interviews with university officials, research leaders, post-doctors and doctoral candidates are used for analysis. In particular, we look at in what ways have universities aligned their strategies and practices to the Chinese government’s GBA development strategy? What strategies and practices have been developed by universities for the cultivation and attraction of high-level research labor? And what impacts the universities have made for the regional development? The main arguments of this research highlights the specific ways in which universities in smaller sub-regions can collaborate in high-level human capital formation and the role policy can play in facilitating such collaborations.

Keywords: university, human capital, regional development, triple-helix model

Procedia PDF Downloads 112

Authors: Khadijah Hasim, Achmad Fauzan Firdaus, Choirunnisa

Abstract:

Waqf land which previously was idle assets can be built on top of a building that is a means for people to conduct business. Nadzir (waqf managers) lease of waqf lands it manages, the agreed rental fee, which is payable in the form of the building, not in cash. After standing building, the developer will lease to interested companies. Given the magnitude of the beginning funds needed, The company later issuing sukuk al-intifa on the trading floor. With this sukuk issuance, the company has sufficient capital to begin operations and pay obligations of the rental fee to the developer each year. Building that had stood trade area will be established (Micro, Small, Middle Entreprises) MSMEs. It is expected that through the sukuk al-intifa, can help to make waqf land previously unproductive due to lack of capital to be very beneficial and help awaken the people of Indonesian MSMEs

Keywords: Sukuk Al-Intifa, MSMEs, waqf land, underlying asset

Procedia PDF Downloads 470

Authors: Amit Das

Abstract:

Background and significance of the study: Generally investors and market forecasters use financial statement for investigation while it awakens contribute to investing. The main vicinity of financial accounting and reporting practices recommends a few basic financial performance indicators, namely, return on capital employed, return on assets and earnings per share, which is associated considerably with share prices. It is principally true in case of Indian pharmaceutical companies also. Share investing is intriguing a financial risk in addition to investors look for those financial evaluations which have noteworthy shock on share price. A crucial intention of financial statement analysis and reporting is to offer information which is helpful predominantly to exterior clients in creating credit as well as investment choices. Sound financial performance attracts the investors automatically and it will increase the share price of the respective companies. Keeping in view of this, this research work investigates the impact of financial performance indicators on share price of pharmaceutical companies in India which is listed in the Bombay Stock Exchange. Methodology: This research work is based on secondary data collected from moneycontrol database on September 28, 2015 of top 101 pharmaceutical companies in India. Since this study selects four financial performance indicators purposively and availability in the database, that is, earnings per share, return on capital employed, return on assets and net profits as independent variables and one dependent variable, share price of 101 pharmaceutical companies. While analysing the data, correlation statistics, multiple regression technique and appropriate test of significance have been used. Major findings: Correlation statistics show that four financial performance indicators of 101 pharmaceutical companies are associated positively and negatively with its share price and it is very much significant that more than 80 companies’ financial performances are related positively. Multiple correlation test results indicate that financial performance indicators are highly related with share prices of the selected pharmaceutical companies. Furthermore, multiple regression test results illustrate that when financial performances are good, share prices have been increased steadily in the Bombay stock exchange and all results are statistically significant. It is more important to note that sensitivity indices were changed slightly through financial performance indicators of selected pharmaceutical companies in India. Concluding statements: The share prices of pharmaceutical companies depend on the sound financial performances. It is very clear that share prices are changed with the movement of two important financial performance indicators, that is, earnings per share and return on assets. Since 101 pharmaceutical companies are listed in the Bombay stock exchange and Sensex are changed with this, it is obvious that Government of India has to take important decisions regarding production and exports of pharmaceutical products so that financial performance of all the pharmaceutical companies are improved and its share price are increased positively.

Keywords: financial performance indicators, share prices, pharmaceutical companies, India

Procedia PDF Downloads 306

Authors: Abdelrahman Mohamed

Abstract:

Copyright law is a branch of the Intellectual Property Law that gives authors exclusive rights to copy, display, perform, and distribute copyrightable works. In theory, copyright law aims to promote the welfare of society by granting exclusive rights to the creators in exchange for the works that these creators produce for society. Thus, there are two different types of rights that a just regime should balance between them which are owners' rights and users' rights. The paper argues that there is a conflict between the current international copyright regime and the Islamic Social Justice Theory. This regime is unjust from the Islamic Social Justice Theory's perspective regarding access to educational materials because this regime was unjustly established by the colonizers to protect their interests, starting from the Berne Convention for the Protection of Literary and Artistic Works 1886 and reaching to the Trade-Related Aspects of Intellectual Property Rights 1994. Consequently, the injustice of this regime was reflected in the regulations of these agreements and led to an imbalance between the owners' rights and the users' rights in favor of the former at the expense of the latter. As a result, copyright has become a barrier to access to knowledge and educational materials. The paper starts by illustrating the concept of justice in Islamic sources such as the Quran, Sunnah, and El-Maslha-Elmorsalah. Then, social justice is discussed by focusing on the importance of access to knowledge and the right to education. The theory assumes that the right to education and access to educational materials are necessities; thus, to achieve justice in this regime, the users' rights should be granted regardless of their region, color, and financial situation. Then, the paper discusses the history of authorship protection under the Islamic Sharia and to what extent this right was recognized even before the existence of copyright law. According to this theory, the authors' rights should be protected, however, this protection should not be at the expense of the human's rights to education and the right to access to educational materials. Moreover, the Islamic Social Justice Theory prohibits the concentration of wealth among a few numbers of people, 'the minority'. Thus, if knowledge is considered an asset or a good, the concentration of knowledge is prohibited from the Islamic perspective, which is the current situation of the copyright regime where a few countries control knowledge production and distribution. Finally, recommendations will be discussed to mitigate the injustice of the current international copyright regime and to fill the gap between the current international copyright regime and the Islamic Social Justice Theory.

Keywords: colonization, copyright, intellectual property, Islamic sharia, social justice

Procedia PDF Downloads 21

Authors: Vanja Vejzagic, Jackie Brander Brown, Peter Schmidt

Abstract:

Purpose: For some time now, the global hotel industry trends are strongly oriented towards sustainable development and environmental management accounting (EMA) should have the supporting role for hotel’s corporate social responsibility (CSR) management. The aim of this paper is thus to analyse and present data on the key steps leading toward the effective incorporation of EMA within hotel performance information systems. Design/Methodology/Approach: The research study is a continuation of the process carried out on the sample of 20 eco-hotels in the UK, a year ago. Research evidence was obtained via in-depth case studies on sample of 180 hotels (4 and 5 stars hotels) located in Croatia. Research was conducted through interviews with key personnel and an online survey which specifically focused on 10 business areas considered vital for successful EMA integration. Findings: The research results indicate a pattern by which hotels can determine the existing level of their sustainable (environmental) business. Furthermore, the management understanding of the sustainability concept was still proven to lead to a relatively subjective appreciation and presentation of sustainable hotel operations and their performance. It was determined that majority of analysed hotel organisations reflect typical short-term, financially oriented performance information systems. Steps for EMA introduction have been offered. Research Limitations/Implications: CSR is still a broad-set concept. Exploring the effects of EMA on such-like a defined management system may be subject to considerable influence of the respondent’s subjective perception of the concept. Originality/Value: This article should be of interest to higher education academics and careers staff who have an interest in CSR introduction and the ways of implementing its informational support for performance measurement.

Keywords: environmental management accounting, EMA, corporate social responsibility, CSR, sustainability, hotel

Procedia PDF Downloads 174

Authors: Ali Mahamat

Abstract:

This paper explores the application of Functional Communication Training (FCT) as an intervention to decrease maladaptive behaviors among individuals diagnosed with Intellectual Disability (ID) and Autism Spectrum Disorders (ASD) within an extensive support needs residential program. Evidence suggests that FCT can be ef ective in promoting positive behavioral changes and enhancing communication skills in this population. The prevalence of maladaptive behaviors in individuals with ID and ASD is a significant concern for caregivers and professionals in residential programs. These behaviors can include aggression, self-injury, and disruptive activities, which can impede the individual's quality of life. Functional Communication Training (FCT) has been identified as a potential solution to these challenges, providing individuals with the communication skills needed to express their needs and desires effectively. Method: A quasi-experimental design was used to investigate the effectiveness of FCT in a residential setting for individuals with ID and ASD. Participants included individuals with varying degrees of ID and ASD who exhibited maladaptive behaviors. A baseline was established for each participant's behavior before introducing FCT as an intervention. The FCT intervention involved teaching the individuals alternative, functionally equivalent communication behaviors to replace maladaptive behaviors. The training was implemented in the participants' natural environment and was incorporated into their daily routines. The intervention period lasted for six months, with follow-ups conducted at three months and six months post-intervention.Results indicated a significant decrease in maladaptive behaviors for individuals who received the FCT intervention. In addition, an enhancement in communication skills was observed, with the majority of participants demonstrating an increased ability to express their needs and desires appropriately. The findings of this study provide support for the effectiveness of FCT in reducing maladaptive behaviors in individuals with ID and ASD in a residential setting. Moreover, the study highlights the importance of incorporating functional communication skills training in the daily routines of these individuals. By providing these individuals with an effective means of communication, FCT not only reduces the occurrence of maladaptive behaviors but also improves the quality of life for these individuals. However, future research should explore the long-term effects of FCT and consider the influence of individual differences on the effectiveness of the intervention.

Keywords: functional communication training, intellectual disability, autism spectrum disorders, maladaptive behavior, residential program

Procedia PDF Downloads 25

Authors: Saeed Rabea Baatwah, Zalailah Salleh, Norsiah Ahmad

Abstract:

This study examines whether audit committee chair with financial expertise enhances the audit committee role in financial reporting quality in emerging market. We investigate this influence by employing the direct effect and moderating effect of audit committee chair with financial expertise on financial reporting timeliness. By using Omani data and the panel data method for two proxies for financial reporting timeliness, we find that audit committee chair with financial expertise enhances the timeliness of financial reporting through making the disclosure of annual reports timely. Further, we report evidence showing that both accounting and non-accounting financial expertise on the audit committee have a positive and significant influence on the timeliness of financial reporting. We also document that the association between financial expertise and the timeliness of financial reporting is more pronounced when the chair of the audit committee has financial expertise. This study is among the first to comprehensively prove that audit committee chair with financial expertise contributes to the quality of financial reporting in emerging market.

Keywords: audit committee, chair with financial expertise, timeliness of financial reporting, Oman

Procedia PDF Downloads 269

Authors: Lindie Grebe

Abstract:

This paper reports on a study that explored the strategizing practices of professional accountants in the mining industry, based on Jarratt and Stiles’ dominant strategizing practice models framework. Drawing on a strategy-as-practice perspective, the paper recognises qualified professional accountants in strategic management such as Chief Executive Officers, as strategy practitioners that perform their strategizing practices and praxis within a specific context. The main findings of this paper were produced through semi-structured individual interviews with accountants that perform strategy on a business level in the South African mining industry. Qualitative data were analysed through conversation analysis over two coding-cycles. Findings describe accountant strategists as practitioners who challenge the dominant business model when a disconnect seems to exist between international corporate level strategy and business level strategy in the South African mining industry. Accountant strategy practitioners described their dominant strategizing practice model as incremental change during strategic planning and as a lived experience during strategy implementation. Findings portrayed these strategists as taking initiative as strategy leaders in a dynamic and volatile environment to combine their accounting background with strategic management and challenge the dominant business model. Understanding how accountant strategists perform strategizing offers insight into the social practice of strategic management. This understanding contributes to the body of knowledge on strategizing in the South African mining industry. In addition, knowledge on the transformation of accountants as strategists could provide valuable practice relevant insights for accounting educators and the accounting profession alike.

Keywords: accountant strategists, dominant strategizing practice models framework, mining industry, strategy-as-practice

Procedia PDF Downloads 175