Search results for: intellectual capital disclosure

Authors: Anton Grobler

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Background: Psychological capital (PsyCap), consisting of Hope, Optimism, Resilience, and Self-efficacy, is a popular positive organisational behaviour construct utilised in the studying employee work and behavioral attitudes. Various scholars believe however that further validity research should be conducted on the PsyCap questionnaire (PCQ), outside of the founding research team and in more diverse settings, for the purpose of this paper, within the diverse South African (SA) context. Aim: The purpose of this study was to investigate the construct validity of the PCQ with specific reference to its psychometric properties within the diverse SA context. Setting: The sample includes a total of 1 749 respondents, ± 60 each from 30 organisations in South Africa. Method: This study utilised a cross-sectional design and quantitative analysis. The sample is relatively representative (in terms of race, gender) of the South African workforce. A multi-factorial model was statistically explored and confirmed (with exploratory factor analysis [EFA] and confirmatory factor analysis [CFA] respectively). Results: The study yielded a three-factor solution, with Hope and Optimism as a combined factor and Resilience and Self-efficacy made up of a reconfigured set of substantively justifiable items. Three items of the original 24 items were found not to be suitable. The three factors showed good psychometric properties, good fit (in support of construct validity) and acceptable levels of convergent and discriminant validity. Conclusion: The results support the original conceptualisation of PsyCap, although with a unique structural configuration. This resonates with the notion of scholars that further research should be conducted within diverse settings. This is necessary to ensure the valid measurement of the construct, which is considered to be one of the four criteria for a construct to be categorised as a positive organisational behaviour construct.

Keywords: positive organisational behaviour, psychological capital, hope, optimism, resilience, self-efficacy, construct validity

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: Vijay Kumar, Ron Bird

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The study investigates the effect of bank-specific, industry-specific and macroeconomic variables on the profitability of conventional and Islamic banks. Our sample comprises 1,781 bank-year observations of 205 banks from four countries in the Asian region for the period 2004-2014. Our results suggest that credit quality, cost management and bank size are the keys factors that contribute positively to bank profitability in Asia. The banks with high non-performing loans and high cost-to-income ratio are more likely to be exposed to losses. The impacts of the bank-specific variables are stronger than are the industry-specific and macroeconomic variables. We find that Malaysian banks are the least profitable compared to the banks in Bangladesh, Indonesia and Pakistan. There is strong evidence to suggest that conventional banks are more profitable than Islamic banks. Our results suggest that the impact of capital adequacy ratio and bank size and loan to deposit ratio vary across Islamic and conventional banks and across different subsamples.

Keywords: capital adequacy ratio, Islamic banks, non-performing loan ratio, ownership

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Authors: Priyanka Sinnarkar

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The appropriation of traditional knowledge has already deprived vast indigenous communities of material benefits. One such industry in India responsible for the extensive exploitation of the indigenous communities is Bollywood or the film industry. Indigenous communities are usually marginalized and exploited, whilst the beneficiary is always the third part. Transgender culture in India dates back to 400 AD with a precise description in the Kama Sutra. Since then, with escalating evolution in governance, the community lost its glory and was criminalized until late 2014. However, the traditional knowledge and cultural practices never diminished. The formation of cults (gharanas) and peculiar folklore has remained in place. This study is intended to highlight the culture of the hijra gharanas and their contribution to intangible cultural heritage. Whilst adhering to the norms of the United Nations pertaining to traditional knowledge and indigenous communities, these papers focuses on the fact that one of the most marginalized and ostracized communities in India treasures a huge amount of rituals and practices that are appropriated by the film industry, leaving the transgender community to indulge into odd jobs and commercial sex work leading to poverty and illiteracy. A comparison between caste reservations and no reservation for this community will bring to light the lacuna in the democratic system. Also, through empirical findings, it can be inferred that a creative sector of the society is not properly exploited to its complete potential, thereby restricting a good contribution to intellectual property. It is important to state that the roots of this problem are not in modern practices. Thus an etymological analysis from mythology to the present will help understand that appropriate application of human rights in this segment will be useful to render justice to this community and thereby recognize the IP that has been succumbed since ages.

Keywords: indigenous, intellectual property, traditional knowedge, transgender

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Authors: Juan Wang, Xiuxiu Wang, Di Wang

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Engineers are an important force supporting the economic and social development of a country. As China has the largest scale of engineering education in the world, the career choice of engineering students will affect the contribution of human capital to national scientific and technological progress and economic development. A questionnaire survey shows the following: on the whole, the students surveyed were willing to engage in an engineering career, but their willingness needed to be enhanced, and their willingness was affected by such factors as their understanding of the value of the engineering career; the resources from individual benefits, resources from career and individual strengths. Also, based on in-depth interviews with some engineering students, it is found that engineering students’ career choice behaviors totally based on survival rationality, economic rationality, social rationality and other combinations. Based on this, policy support should be given to the enrollment, training, employment and other aspects of engineering education; improve the professional status and treatment of engineers through multiple measures; ensure a smooth career path to enhance the willingness of engineering students to choose careers.

Keywords: engineering students, career choice, engineer, human capital

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Authors: Rifaldy, Misbahudin, Khalid Rizky, Ricky Aryanto, M. Alfiyan Bagus, Fahri Septianto, Firman Najib Wibisana, Excobar Arman

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Indonesia is a country that has a high level of disaster because it is on the ring of fire, and there are several regions with three major plates meeting in the world. So that disaster analysis must always be done to see the potential disasters that might always occur, especially in this research are landslides and liquefaction. This research was conducted to analyze areas that are vulnerable to landslides and liquefaction hazards and their relationship with the assessment of the issue of moving the new capital of the Republic of Indonesia to the island of Kalimantan with a total area of 612,267.22 km². The method in this analysis uses the Analytical Hierarchy Process and consistency ratio testing as a complex and unstructured problem-solving process into several parameters by providing values. The parameters used in this analysis are the slope, land cover, lithology distribution, wetness index, earthquake data, peak ground acceleration. Weighted overlay was carried out from all these parameters using the percentage value obtained from the Analytical Hierarchy Process and confirmed its accuracy with a consistency ratio so that a percentage of the area obtained with different vulnerability classification values was obtained. Based on the analysis results obtained vulnerability classification from very high to low vulnerability. There are (0.15%) 918.40083 km² of highly vulnerable, medium (20.75%) 127,045,44815 km², low (56.54%) 346,175.886188 km², very low (22.56%) 138,127.484832 km². This research is expected to be able to map landslides and liquefaction disasters on the island of Kalimantan and provide consideration of the suitability of regional development of the new capital of the Republic of Indonesia. Also, this research is expected to provide input or can be applied to all regions that are analyzing the vulnerability of landslides and liquefaction or the suitability of the development of certain regions.

Keywords: analytic hierarchy process, Borneo Island, landslide and liquefaction, vulnerability analysis

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Authors: Yun-Shan Tsai, Si-Ping Lin, En-Chieh Lin, Xin-Hong Chen, Shin-Yun Ho, Shin-Hong Huang, Ching-ju Hsieh

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Background and significance: Uncorrected refractive errors and cataracts are the main visually debilitating ophthalmological abnormalities in adult participants with intellectual disability (ID). However, not all adult participants with ID may receive a regular and timely ophthalmological assessment. Consequently, some of the ocular diseases may not be diagnosed until late, thereby causing unnecessary ocular morbidity. In addition, recent clinical practice and researches have also suggested that eye-care services for this group are neglected. Purpose: To investigate the unmet need for eye care services, clinical characteristics of cataract, visual function, surgical outcome and prognostic predictors in adult participants with ID at Taipei City Hospital in Taiwan. Methods: This is a one-year prospective clinical study. We recruited about 120 eyes of 60 adult participants with ID who were received cataract surgery. Caregivers of all participants received a questionnaire on current eye care services. Clinical demographic data, such as age, gender, and associated systemic diseases or syndromes, were collected. All complete ophthalmologic examinations were performed 1 month preoperatively and 3 months postoperatively, including ocular biometry, visual function, refractive status, morphology of cataract, associated ocular features, anesthesia methods, surgical types, and complications. Morphology of cataract, visual and surgical outcome was analyzed. Results: A total of 60 participants with mean age 43.66 ± 13.94 years, including 59.02% male and 40.98% female, took part in comprehensive eye-care services. The prevalence of unmet need for eye care services was high (about 70%). About 50% of adult participants with ID have bilateral cataracts at the time of diagnosis. White cataracts were noted in about 30% of all adult participants with ID at the time of presentation. Associated ocular disorders were included myopic maculopathy (4.54%), corneal disorders (11.36%), nystagmus (20.45%), strabismus (38.64%) and glaucoma (2.27%). About 26.7% of adult participants with ID underwent extracapsular cataract extraction whereas a phacoemulsification was performed in 100% of eyes. Intraocular lens implantation was performed in all eyes. The most common postoperative complication was posterior capsular opacification (30%). The mean best-corrected visual acuity was significantly improved from preoperatively (mean log MAR 0.48 ± 0.22) to at 3 months postoperatively (mean log MAR 0.045 ± 0.22) (p < .05). Conclusions: Regular follow up will help address the need for eye-care services in participants with ID. A high incidence of bilateral cataracts, as well as white cataracts, was observed in adult participants with ID. Because of early diagnosis and early intervention of cataract, the visual and surgical outcomes of cataract are good, but the visual outcomes are suboptimal due to associated ocular comorbidities.

Keywords: adult participants with intellectual disability, cataract, cataract surgery

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Authors: Siqin Wang, Jonathan Corcoran, Yan Liu, Thomas Sigler

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Australia is a quintessentially immigrant nation with 28 percent of its residents being foreign-born. By 2011, People’s Republic of China (PRC) overtook the United Kingdom to become the largest source country in Australia. Significantly, the profile of PRC-born migrants has changed to mirror broader global shifts towards high-skilled labour, education-related, and investment-focussed migration, all of which reflect an increasing trend in the mobility of wealthy and/or educated cohorts. Together, these coalesce to form a more complex pattern of migrant settlement –both spatially and socio-economically. This paper focuses on the PRC-born migration, redresses these lacunae, with regard to the settlement outcomes of PRC migrants to Australia, with a particular focus on spatial evolution and residential mobility at both the metropolitan and national scales. By drawing on Census Data and migration Micro Datasets, the aim of this paper is to examine the shifting dynamics of PRC-born migrants in Australian capital cities to unveil their socioeconomic characteristics, residential patterns and change of spatial concentrations during their transition into the new host society. This paper finds out three general patterns in the residential evolution of PRC-born migrants depending on the size of capital cities where they settle down, as well as the association of socio-economic characters with the formation of enclaves. It also examines the residential mobility across states and cities from 2001 to 2011 indicating the rising status of median-size Australian capital cities for receiving PRC-born migrants. The paper concludes with a discussion of evidences for policy formation, facilitates the effective transition of PRC-born populations into the mainstream of host society and enhances social harmony to help Australia become a more successful multicultural nation.

Keywords: Australia, Chinese migrants, residential mobility, spatial evolution

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Authors: Jukka Törrönen

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In the article, we examine the interplay between the practices of heavy drinking and exercise among young people as patterned around the ‘social’ and ‘physical health’ approaches. The comparison helps us to clarify why young people are currently drinking less than earlier and how the neoliberal healthism discourse, as well as the feminine tradition of taking care of one’s body, are modifying young people’s heavy drinking practices. The data is based on interviews (n = 56) in Sweden among 15-16-year-olds and 18˗19-year-olds. By drawing on Pierre Bourdieu’s concepts of habitus, field, and capital, we examine what kinds of resources of wellbeing young people accumulate in the fields of heavy drinking and exercise, how these resources carry symbolic value for distinction, and what kind of health-related habitus they imply. The analysis suggests that as heavy drinking is no longer able to stand as a practice through which one may acquire capital that is more valuable than the capital acquired in other fields, this lessens peer pressure to drink among young people. Our analysis further shows that the healthism discourse modifies young people’s heavy drinking practices both from inside and from outside. The interviewees translate the symbolic value of healthism discourse to social vulnerability and deploy it for the purposes of increasing one’s social status among peers. Moreover, our analysis demonstrates that the social spaces and positions in intoxication and exercise are shaped by gendered dualisms of masculine dominance. However, while the interviewees naturalize the gender binaries in intoxication as based on biological drives, they understand gender binaries in exercise as normative social constructions of neoliberal society. As these binaries emphasize the struggle for recognition of the symbolic value of bodily look, they may shift young men’s attention from risk-taking to issues that traditionally have been female concerns.

Keywords: young people, decline in drinking , health, intoxication, exercise, Bourdieu

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Authors: Vashti Carissa

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The main objective of this study is to examine whether the life-cycle theory of dividends could explain the determinant of an optimal dividend policy in Indonesia. The sample that was used consists of 1,420 non-financial and non-trade, services, investment firms listed in Indonesian Stock Exchange during the period of 2005-2014. According to this finding using logistic regression, firm life-cycle measured by retained earnings as a proportion of total equity (RETE) significantly has a positive effect on the propensity of a firm pays dividend. The higher company’s earned surplus portion in its capital structure could reflect firm maturity level which will increase the likelihood of dividend payment in mature firms. This result provides an additional empirical evidence about the existence of life-cycle theory of dividends for dividend payout phenomenon in Indonesia. It can be known that dividends tend to be paid by mature firms while retention is more dominating in growth firms. From the testing results, it can also be known that majority of sample firms are being in the growth phase which proves the fact about infrequent dividend distribution in Indonesia during the ten years observation period.

Keywords: dividend, dividend policy, life-cycle theory of dividends, mix of earned and contributed capital

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Authors: Hsin Hua He

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The purpose of this study is to strengthen the social cohesion of the local community by injecting the cultural and creative concept into the industrial heritage transformation. The paradigms of industrial heritage research tend to explore from the perspective of space analysis, which concerned less about the cultural regeneration and the development of local culture. The paradigms of cultural quarter research use to from the perspective of creative economy and urban planning, concerned less about the social impacts and the interaction between residents and industrial sites. This research combines these two research areas of industrial heritage and cultural quarter, and focus on the social and cultural aspects. The transformation from the industrial heritage into a cultural park not only enhances the cultural capital and the quality of residents’ lives, but also preserves the unique local values. Internally it shapes the local identity, while externally establishes the image of the city. This paper uses Westergasfabriek Cultural Park in Amsterdam as the case study, through literature analysis, field work, and depth interview to explore how the cultural regeneration transforms industrial heritage. In terms of the planners’ and residents’ point of view adopt the theory of community participation, social capital, and sense of place to analyze the social impact of the industrial heritage transformation. The research finding is through cultural regeneration policies like holding cultural activities, building up public space, social network and public-private partnership, and adopting adaptive reuse to fulfil the people’s need and desire and reach the social cohesion. Finally, the study will examine the transformation of Taiwan's industrial heritage into cultural and creative quarters. The results are expected to use the operating experience of the Amsterdam cases and provide directions for Taiwan’s industrial heritage management to meet the cultural, social, economic symbiosis.

Keywords: cultural regeneration, community participation, social capital, sense of place, industrial heritage transformation

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Authors: Tamer Mokhtar Mohamed Ahmed

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Throughout the ages the Caliphs, Sultans and rulers have paid great care to tomb covers and in particular to the cover of the tomb of the Prophet Muhammad as well as other prophets. For that purpose they established waqfs and ensured that the covers appeared in the most magnificent manner to befit their purpose, as we can see in the beautiful examples in museums across the world. In fact tomb covers are some of the most beautiful examples of Islamic art in their detail of craftsmanship which have made them great works of art. It became the custom that the Kiswa or the tomb covers were made of silk or satin with gold and silver threads. Museums across the word preserve examples of the highest craftsmanship of tomb covers produced in the capital of the Ottomans and other capital cities, all differing in their designs or colors reflecting the work of the individual cities like Cairo, Istanbul or Bursa. Other than the cover for the tomb of the Prophet, many other tomb covers were produced for the tombs of other prophets and their wives in Hebron. In addition tomb covers were made for the sufi saints as well as for the Ottoman sultans and for their wives and children. In this paper I will Study the Kiswa or the tomb covers in Ottoman period.

Keywords: kiswa, ottoman period, textiles, silk, tomb of the Prophet Muhammad

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Authors: Sa'ad Ali

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This study explores wasta as an example of a social network and how it impacts business practice in the Arab Middle East, drawing links with social network impact in different regions of the world. In doing so, particular attention will be paid to the socio-economic and cultural influences on business practice. In exploring relationships in business, concepts such as social network analysis, social capital and group identity are used to explore the different forms of social networks and how they influence business decisions and practices in the regions and countries where they prevail. The use of social networks to achieve objectives is known as guanxi in China, wasta in the Arab Middle East and blat in ex-Soviet countries. Wasta can be defined as favouritism based on tribal and family affiliation and is a widespread practice that has a substantial impact on political, social and business interactions in the Arab Middle East. Within the business context, it is used in several ways, such as to secure a job or promotion or to cut through bureaucracy in government interactions. The little research available is fragmented, and most studies reveal a negative attitude towards its usage in business. Paradoxically, while wasta is widely practised, people from the Arab Middle East often deny its influence. Moreover, despite the regular exhibition of a negative opinion on the practice of wasta, it can also be a source of great pride. This paper addresses this paradox by conducting a positional literature review, exploring the current literature on wasta and identifying how the identified paradox can be explained. The findings highlight how wasta, to a large extent, has been treated as an umbrella concept, whilst it is a highly complex practice which has evolved from intermediary wasta to intercessory wasta and therefore from bonding social capital relationships to more bridging social capital relationships. In addition, the research found that Islam, as the predominant religion in the region and the main source of ethical guidance for the majority of people from the region, plays a substantial role in this paradox. Specifically, it is submitted that wasta can be viewed positively in Islam when it is practised to aid others without breaking Islamic ethical guidelines, whilst it can be viewed negatively when it is used in contradiction with the teachings of Islam. As such, the unique contribution to knowledge of this study is that it ties together the fragmented literature on wasta, highlighting and helping us understand its complexity. In addition, it sheds light on the role of Islam in wasta practices, aiding our understanding of the paradoxical nature of the practice.

Keywords: Islamic ethics, social capital, social networks, Wasta

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Authors: Koel Chakraborty

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This paper critically examines the role of ‘disclosure and visibility’ of sexual minorities in a heteronormative organizational setting. The paper wishes to comment on the importance of promoting ‘visibility’ as an important catalyst in increasing the efficacy of outreach programs as part of diversity management practices as well as increasing the efficacy of teams. The aim of the research is to assess the pitfalls of not bringing ‘one’s authentic or whole self’ to work. In doing so, it will address whether Inclusive Leadership at the top propels employees to come out. The paper finally discusses and recommends strategies that could be helpful toward attaining and improving the visibility factor at a cross-functional level. This is a qualitative research with interviews and surveys conducted in inclusive workplace environments across various private sector companies in India.

Keywords: LGBT, diversity, organisation, leadership

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Authors: Eliane Abdo

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Small and medium sized firms “SMEs” play essential role in the countries’ economic development mainly in terms of production, employment and equitable distribution of income. For innovative SMEs, the investment in the human capital and in research and development are crucial to survive in a competitive environment. In this paper we perform a literature review to underline the financing difficulties and constraints which innovative SMEs face while investing in intangible assets: not only when defining amount of the investments but also while choosing its financing methods. Literature review revealed that in order to finance their intangible assets, SMEs rely in first on their internal financing: the availability of internal cash flows can then determine their investment’s decision. Moreover SMEs face difficulties to finance their intangibles by financial debts due to the uncertainty of future cash flow and the absence of physical guarantees; they will therefore go for the issuance of new shares as a second choice, since innovative companies have high opportunity of growth that attract new shareholders.

Keywords: small and medium sized firms, capital structure, intangible investment, financial constraints

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Authors: Keroles Akram Saed Ghatas

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The near future will bring significant changes in modern organizations and management due to the growing role of intangible assets and knowledge workers. The area of copyright, intellectual property, digital (intangible) assets and media redistribution appears to be one of the greatest challenges facing business and society in general and management sciences and organizations in particular. The proposed article examines the views and perceptions of fairness in digital media sharing among Harvard Law School's LL.M.s. Students, based on 50 qualitative interviews and 100 surveys. The researcher took an ethnographic approach to her research and entered the Harvard LL.M. in 2016. at, a Face book group that allows people to connect naturally and attend in-person and private events more easily. After listening to numerous students, the researcher conducted a quantitative survey among 100 respondents to assess respondents' perceptions of fairness in digital file sharing in various contexts (based on media price, its availability, regional licenses, copyright holder status, etc.). to understand better . .). Based on the survey results, the researcher conducted long-term, open-ended and loosely structured ethnographic interviews (50 interviews) to further deepen the understanding of the results. The most important finding of the study is that Harvard lawyers generally support digital piracy in certain contexts, despite having the best possible legal and professional knowledge. Interestingly, they are also more accepting of working for the government than the private sector. The results of this study provide a better understanding of how “fairness” is perceived by the younger generation of lawyers and pave the way for a more rational application of licensing laws.

Keywords: cognitive impairments, communication disorders, death penalty, executive function communication disorders, cognitive disorders, capital murder, executive function death penalty, egyptian law absence, justice, political cases piracy, digital sharing, perception of fairness, legal profession

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Authors: Bita Mashayekhi, Hamid Kalhornia

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

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

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Authors: Linda O. N. Nwabunike

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The role of internal and external efforts in the management of exploration and exploitation has been highlighted in literature. External ties support ambidexterity at different levels with, for instance: business unit ambidexterity, individual ambidexterity, organizational ambidexterity, and alliance ambidexterity. Recently studies have highlighted the combination of organization, alliance, and acquisition strategies for ambidexterity by conceptualizing ambidexterity across modes of operation. Literature still lacks detailed understanding of how these different processes are combined in the management of ambidexterity across modes of operation. This study plans to propose a conceptual model that illustrates the social processes involved in the management of ambidexterity across modes of operation. Main arguments are integrated from social structures, organizational design, and ambidexterity literature. The framework illustrates that how social capital is promoted by hierarchical relations within the organization and business relations across the boundaries of the organization. Whereby such social relations within and outside the organization are supported by the dual structures of the organization in the coordination of multiple efforts. This paper has potential to contribute to the understanding about how ambidexterity is attained.

Keywords: ambidexterity, coordination, external-ties, social-capital

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Authors: Rebecca Keyte, Helen Egan, Michail Mantzios

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It is well acknowledged that ongoing adherence is a major concern within CF. However recently literature has indicated that non-adherence should not be viewed just in terms of medical regimens. There are other damaging behaviours that some chronically ill patients engage in which can be viewed as a form of non-adherence, such as risky behaviours. Risky behaviours are a major concern within CF, as they can have adverse health effects on patients regardless of patients adherence to medical regimens. The risky behaviours this research is predominantly focusing on are smoking, excessive alcohol consumption, illicit drug use and risky sexual behaviour. This research investigates patient’s beliefs about their CF and the impact their CF has upon their life, exploring rationales for why some patients engage in risky behaviours. This research utilises qualitative semi-structured interviews taking an interpretive perspective. Twenty-four adult participants have been recruited (16 male, age range 19–66 yrs) from two UK regional CF centres, with a median FEV1 61.77% predicted. Participants were recruited via clinician guidance, with 13 participants identified by clinicians as partaking in risky behaviours. However, during the interviews 17 participants were identified as partaking in risky behaviours, illustrating that not all patients offer full disclosure of engagement in such behaviours to their clinicians. Preliminary findings illustrate a variety of reasons as to why some CF patients engage in risky behaviours, with many participants stating that one challenge in terms of living with CF is accepting their illness. Disclosure of illness was also an issue, the desire to be seen as ‘normal’ was important to many. It is often possible for CF patients to hide their illness as they do not always appear to be unwell. However, literature indicates a desire for normalcy can be accompanied with the engagement of normalised risky behaviours, enabling patients to retaliate against their illness identity. There was also evidence of a life-orientated perspective amongst participants, with some reporting that their desire for fun and enjoyment was the reason for why they were engaging in risky behaviours. Some participants did not acknowledge the impact their risky behaviours could have upon their CF, and others rationalised their continuation with the behaviours by suggesting that they were in fact beneficial to their health. There was an apparent lack of knowledge around the implications of risky behaviours, with participants indicating that they had not been informed of such potential consequences by their clinicians. Given the adverse health effects of risky behaviours within CF, more effective health promotion measures are needed to both reduce and more importantly prevent these behaviours. Due to the initiation of risky behaviours within the CF population commonly occurring during adolescence, the researcher now proposes to conduct semi-structured interviews with paediatric patients to investigate their awareness and beliefs towards risky behaviours. Overall, this research will highlight reasons why some CF patients engage in risky behaviours, in order to inform interventions aimed to prevent the initiation in risky behaviours by increasing patient awareness.

Keywords: cystic fibrosis, health beliefs, preliminary findings, risky health behaviours

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Authors: L. Sierra, N. Gambetta, M. A. Garcia-Benau, M. Orta

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Financial scandals and financial crisis have led to an international debate on the value of auditing. In recent years there have been significant legislative reforms aiming to increase markets’ confidence in audit services. In particular, there has been a significant debate on the need to improve the communication of auditors with audit reports users as a way to improve its informative value and thus, to improve audit quality. The International Auditing and Assurance Standards Board (IAASB) has proposed changes to the audit report standards. The International Standard on Auditing 701, Communicating Key Audit Matters (KAM) in the Independent Auditor's Report, has introduced new concepts that go beyond the auditor's opinion and requires to disclose the risks that, from the auditor's point of view, are more significant in the audited company information. Focusing on the companies included in the Financial Times Stock Exchange 100 index, this study aims to focus on the analysis of the determinants of the number of KAM disclosed by the auditor in the audit report and moreover, the analysis of the determinants of the different type of KAM reported during the period 2013-2015. To test the hypotheses in the empirical research, two different models have been used. The first one is a linear regression model to identify the client’s characteristics, industry sector and auditor’s characteristics that are related to the number of KAM disclosed in the audit report. Secondly, a logistic regression model is used to identify the determinants of the number of each KAM type disclosed in the audit report; in line with the risk-based approach to auditing financial statements, we categorized the KAM in 2 groups: Entity-level KAM and Accounting-level KAM. Regarding the auditor’s characteristics impact on the KAM disclosure, the results show that PwC tends to report a larger number of KAM while KPMG tends to report less KAM in the audit report. Further, PwC reports a larger number of entity-level risk KAM while KPMG reports less account-level risk KAM. The results also show that companies paying higher fees tend to have more entity-level risk KAM and less account-level risk KAM. The materiality level is positively related to the number of account-level risk KAM. Additionally, these study results show that the relationship between client’s characteristics and number of KAM is more evident in account-level risk KAM than in entity-level risk KAM. A highly leveraged company carries a great deal of risk, but due to this, they are usually subject to strong capital providers monitoring resulting in less account-level risk KAM. The results reveal that the number of account-level risk KAM is strongly related to the industry sector in which the company operates assets. This study helps to understand the UK audit market, provides information to auditors and finally, it opens new research avenues in the academia.

Keywords: FTSE 100, IAS 701, key audit matters, auditor’s characteristics, client’s characteristics

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Authors: Peter Boyes, Sarah Sharples, Paul Tennent, Gary Priestnall, Jeremy Morley

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Significant long-term investment projects can involve complex decisions. These are often described as capital projects, and the factors that contribute to their complexity include budgets, motivating reasons for investment, stakeholder involvement, interdependent projects, and the delivery phases required. The complexity of these projects often requires management groups to be established involving stakeholder representatives; these teams are inherently multidisciplinary. This study uses two university campus capital projects as case studies for this type of management group. Due to the interaction of projects with wider campus infrastructure and users, decisions are made at varying spatial granularity throughout the project lifespan. This spatial-related context brings complexity to the group decisions. Sensemaking is the process used to achieve group situational awareness of a complex situation, enabling the team to arrive at a consensus and make a decision. The purpose of this study is to understand the role of people and data in the complex spatial related long-term decision and sensemaking processes. The paper aims to identify and present issues experienced in practical settings of these types of decision. A series of exploratory semi-structured interviews with members of the two projects elicit an understanding of their operation. From two stages of thematic analysis, inductive and deductive, emergent themes are identified around the group structure, the data usage, and the decision making within these groups. When data were made available to the group, there were commonly issues with the perception of veracity and validity of the data presented; this impacted the ability of group to reach consensus and, therefore, for decisions to be made. Similarly, there were different responses to forecasted or modelled data, shaped by the experience and occupation of the individuals within the multidisciplinary management group. This paper provides an understanding of further support required for team sensemaking and decision making in complex capital projects. The paper also discusses the barriers found to effective decision making in this setting and suggests opportunities to develop decision support systems in this team strategic decision-making process. Recommendations are made for further research into the sensemaking and decision-making process of this complex spatial-related setting.

Keywords: decision making, decisions under uncertainty, real decisions, sensemaking, spatial, team decision making

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Authors: Lidia Sanchis-Marco, Antonio Rubia, Pedro Serrano

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This paper studies the informational content of pricing errors in the term structure of sovereign CDS spreads. The residuals from a non-arbitrage model are employed to construct a Price discrepancy estimate, or noise measure. The noise estimate is understood as an indicator of market distress and reflects frictions such as illiquidity. Empirically, the noise measure is computed for an extensive panel of CDS spreads. Our results reveal an important fraction of systematic risk is not priced in default swap contracts. When projecting the noise measure onto a set of financial variables, the panel-data estimates show that greater price discrepancies are systematically related to a higher level of offsetting transactions of CDS contracts. This evidence suggests that arbitrage capital flows exit the marketplace during time of distress, and this consistent with a market segmentation among investors and arbitrageurs where professional arbitrageurs are particularly ineffective at bringing prices to their fundamental values during turbulent periods. Our empirical findings are robust for the most common CDS pricing models employed in the industry.

Keywords: credit default swaps, noise measure, illiquidity, capital arbitrage

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Authors: An-an Chiu, Shaio Yan Huang, Ling-Na Chen, Wei-Hua Lin

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Research has primarily focused on listed companies, less is done regarding small and medium-sized enterprises. Under the authorities' support, Taipei Exchange (TPEx) started Go Incubation Board for Startup and Acceleration Firms (GISA) in January 2014. This platform is designed to help small-sized innovative companies grow and to enter the capital market in the future. This research yield insight into earnings management activities around seasoned equity offerings (SEO) based on Taiwan’s GISA firms and the effectiveness of external corporate governance. Data for the study come from the GISA Market Observation Post System from January 2014 to December 2016. The result finds that GISA firms prone to upward accrual-based earnings management during SEO to avoid long-term negative consequences. Especially, firms with paid-in capital more than NT$ 30 million, higher fundraising amounts, or smaller-sized firms, tend to increase discretionary accruals. Finally, consistent with prior literature, CPA firms effectively serve as the role of external corporate governances on mitigating earnings management.

Keywords: GISA, earnings　management, CPA, seasoned equity offerings

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Authors: Isabela Romanha de Alcantara, Jose Eustaquio Ribeiro Vieira Filho, Jose Garcia Gasques

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Innovation and technology can be determinant factors to ensure agricultural and sustainable growth, as well as productivity gains. Technical change has contributed considerably to supply agricultural expansion in Brazil. This agricultural growth could be achieved by incorporating more land or capital. If capital is the main source of agricultural growth, it is possible to increase production per unit of land. The objective of this paper is to estimate: 1) total factor productivity (TFP), which is measured in terms of the rate of output per unit of input; and 2) the land-saving effect (LSE) that is the amount of land required in the case that yield rate is constant over time. According to this study, from 1990 to 2019, it appears that 87 percent of Brazilian agriculture product growth comes from the gains of productivity; the rest of 13 percent comes from input growth. In the same period, the total LSE was roughly 400 Mha, which corresponds to 47 percent of the national territory. These effects reflect the greater efficiency of using productive factors, whose technical change has allowed an increase in agricultural production based on productivity gains.

Keywords: agriculture, land-saving effect, livestock, productivity

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Authors: Soumya Chaturvedi

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Ever since India opened its doors for the world economy to enter, there has not been a single instance of recoil. A consequence of this move by the government of India resulted in India evolving as a consumer-driven market and in order to survive in this era of extreme competition, the corporate houses have employed every possible means to reach out and hit onto the sentiments of the consumers. The most obvious way to ensure a strong perseverance towards the specific product or brand is through celebrity endorsements. In a country like India, whose film industry accounts for the largest sales and output, it is indeed appalling to acknowledge the fact that it lacks an effective mechanism of protection of the commercial exploitation of celebrities’ attributes under the ambit of law. The western half of the globe has very well accepted and recognized the rights of the celebrities to decide upon the quantum of commercial exploitation of their own attributes and earn profit out of the same. However, the eastern half seems to be a little reluctant in accepting and enforcing these views per se. A celebrity has a right to publicity over the traits of his personality which involves voice, autographs, reputation, and style, so on and so forth as it is these attributes that are responsible for huge trade profits concerning the products to which such traits are attributed to. This clearly involves the right of the celebrity to benefit himself by commercially exploiting the same and refraining the unauthorized gain to third parties. The market is making it nearly impossible to proceed further with such weak laws considering the escalating rate of celebrity endorsements in the nation. This paper discusses the lacunae in law per se to identify a right as such by a celebrity over his traits that are potentially under the circle of commercial exploitation and the need of a definite legislation that would ensure a change in the paradigm of the Courts in India. Also, it discusses the only remedy available currently for violation, which is, a suit for passing off by Indian Courts under Trademark and Copyright laws and a comparison of the same with the mechanisms adopted by the legal systems across the globe.

Keywords: celebrity, rights, intellectual property, trademark, copyrights

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Authors: Jun Ha Whang

Abstract:

As New York City weathers a swelling 'affordability crisis' marked by rapid transformation in land development and urban culture, much of the associated scholarly debate has turned to questions of the underlying mechanisms of gentrification. Though classically approached from the point of view of urban planning, increasingly these questions have been addressed with an eye to understanding the role of cultural capital in neighborhood valuation. This paper will examine the construction of an artist-specific affordable housing development in the Spanish Harlem neighborhood of Manhattan in order to identify and discuss several cultural parameters of gentrification. This study’s goal is not to argue that the development in question, named Art space PS 109, straightforwardly increases or decreases the rate of gentrification in Spanish Harlem, but rather to study dynamics present in the construction of Art space PS 109 as a case study considered against the broader landscape of gentrification in New York, particularly with respect to the impact of artist communities on housing supply. In the end, what Art space PS 109 most valuably offers us is a reference point for a comparative analysis of affordable housing strategies currently being pursued within municipal government. Our study of Art space PS 109 has allowed us to examine a microcosm of the city’s response and evaluate its overall strategy accordingly. As a base line, the city must aggressively pursue an affordability strategy specifically suited to the needs of each of its neighborhoods. It must also conduct this in such a way so as not to undermine its own efforts by rendering them susceptible to the exploitative involvement of real estate developers seeking to identify successive waves of trendy neighborhoods. Though Art space PS 109 offers an invaluable resource for the city’s legitimate aim of preserving its artist communities, with such a high inclusion rate of artists from outside of the community the project risks additional displacement, strongly suggesting the need for further study of the implications of sites of cultural capital for neighborhood planning.

Keywords: artist housing, displacement, east Harlem, urban planning

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Authors: Michael Adedotun Oke

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In Nigeria, Bamboo is one of the most socioeconomically beneficial farming crops, with yearly investment returns of up to N1.6 million. Growing bamboo is a fantastic long-term investment. It may self-renew for up to 70 years and is durable, long-lasting, and environmentally friendly; through an oral interview with the sellers, usage examples, and visual depiction to support those examples, The paper was able to discuss the different uses for bamboo. The various field observations in Federal Capital Territory, including the electric poles, buildings, paper production, and decoration, from picture frames to room dividing screens, bamboo can make some elegant and exotic decorations for the home, building, furniture, cooking, agriculture, instrument, in construction for flooring, roofing designing, scaffolding, garden planting, even to control erosion and slope stabilization in erosion are observed. The use of it is multiplexed with straightforward man-made technology, in contrast. 'This study wants more innovative practices that will be able to make it lucrative for business purposes and sustainability of the process. Although there are various uses and requirements for growing bamboo successfully, it is advised to receive the proper training and in-depth understanding of the growth and management procedures. Consult an experienced bamboo farmer for help.

Keywords: bamboo, use, Nigeria, socioeconomically

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Authors: Milind Bharambe, Chander Shekhar

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India is a vast country with its 1.21 billion population at the dawn of new decade, which accounts for one sixth of the global human capital in the world today. It is well known that health expenditure in India is dominated by private spending. This is an unfortunate consequence of India’s development because of large positive externality associated with health spending, which make health a merit good. This paper has used data from NSSO and Indian Government’s spending on health as reported by Ministry of Health and Family Welfare. Understanding of the dynamism of age-structure of the population would greatly optimize the expenditure on health care services. A country with good public health indicators is bound to possess good human capital which is an asset to the economic growth and indicator of development status of country. The paper tries to present the linkages between the health expenditure incurred by different states at various levels of demographic transition levels and the efficiency in utilization of health expenditure. It also looks into the way in which allocative efficiency health services can be improved. Paper tries to explore the per capita spending on health and how the demographic transition taking place in different states of India affect the required quantity and quality of health services.

Keywords: age structure, demographic transition, health expenditure, morbidity

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Authors: L. Feleagă, M. Dumitrașcu, N. Feleagă

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This article is a research on corporate governance. The aim of the study is to focus a special attention on the importance of corporate social responsibility and corporate governance, which are relevant, indeed necessary, for organizations. In this regard, we analyzed the corporate social responsibility in the context of corporate governance for companies listed on Bucharest and Bombay Stock Exchange. Therefore, we bring into the spotlight some differences between India and Romania linked with the importance ascribed to corporate social responsibility of a company. We presented the results of the demarche and we concluded suggestions regarding further research in this area. The study increases the awareness, identifies and articulates desirable behaviors, which are not intended to be exhaustive.

Keywords: corporate governance, corporate social responsibility, disclosure, listed companies

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Authors: Burcin Basyazici

Abstract:

The history of urban regeneration in Istanbul dates to the 1980s and has been generated by various reasons, from political state-based decisions to cultural migrations and/or translocations and economical private sector-based reasons. However, one of the latest regeneration areas in Fikirtepe that have been still under construction for ten years becomes dissimilar to other regeneration areas in Istanbul. The region is located very close to Kadıkoy's downtown area but was still considered a slum due to its inhabitants -who mostly belong to lower-income immigrants. The process begun in 2011 with the decision of the government, and the settlement has been emptied and demolished also by the government -together with the investors and construction companies. Although there has been much research on the process of deconstruction and the relocation of landlords, there hasn’t been any research on what happened after the regeneration. While many high-rise luxurious gated communities were constructed and inhabited in five years, many constructions have stopped due to the latest economic devastation in Turkey. Then the region stayed as an unfinished construction area with its new upper-income and upper-middle-income residents and old low-income landlords. This situation has also changed the commercial activities in Fikirtepe. While some new retail facilities have been offered for new residents, some of the oldest ones have also survived in new-Fikirtepe. This study aims to investigate the urban everyday life of Fikirtepe with relation to its retail-based regeneration with the help of the theories of Bourdieu called cultural capital and cultural omnivorousness. To achieve this aim, after presenting the historical background of urban regeneration in Istanbul, Bourdieu’s conceptualism of cultural capital, habitus, and the consumption tendencies related to those are introduced and discussed within the scope of the Fikirtepe case. To represent the retail-based regeneration in the area, the current situation of retail premises is mapped by comparing to its pre-situation before urban gentrification. To better understand the change of cultural capital and the consumption tendencies of the new residents, eighteen semi-structured in-depth interviews have been conducted with twelve inhabitants from three different luxurious gated communities and six shop owners containing the new ones after regeneration and old ones before it. The interview questions have been structured to understand the motivation of change and/or inhibition of retail premises and the consumption tendencies of the new residents. In conclusion, the study shows that even though the cultural capital has been changed in Fikirtepe, the new residents also tend to act as culturally omnivorous by referring to Bourdieu's theories on multi-cultural tendencies of the upper-class and upper-middle-class societies, that should be questioned regarding the cultural regeneration in in-town urban regeneration areas in metropoles.

Keywords: bourdieu, cultural omnivorousness, fikirtepe, urban regeneration in istanbul

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