Search results for: personal financial planning

Authors: Aimen Batool Bint-E-Rashid, Syed Muhammad Dawood Ali Shah, Muhammad Usman Farooq, Mahgul Anwar

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As the world is progressing, the needs and demands of the consumer market are also changing. Nowadays the trends of consumer purchase decisions are dependent upon multiple factors. This study aims to identify the influential impact of country of origin over the perception and devotion towards daily personal care products specifically in reference to the knowledge and awareness regarding that particular brand in Pakistan. To corroborate this study, a 30-item brand origin questionnaire has been used with 300 purchase decision makers belonging to different age groups. To illustrate this study, a model has been developed based on brand origin, brand awareness and brand loyalty. Correlation and regression analysis have been used to find out the results which conclude the findings on the perspective of Pakistan’s consumer market as that brand origin has a direct relationship with brand loyalty provided that the consumer has a positive brand awareness. Support for the fact that brand origin impacts brand loyalty through brand awareness has been presented in this study.

Keywords: brand awareness, brand loyalty, brand origin, personal care products, P&G, Unilever

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Authors: Zoran Spasovski

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The paper shortly discusses the significance and the benefits of the historical approach in the research of languages by presenting examples of it in the fields of phonetics and phonology, lexicology, morphology, syntax, and even in the onomastics (toponomy and anthroponomy). The examples from the field of phonetics/phonology include insights into animal speech and its evolution into human speech, the evolution of the sounds of human speech from vocals to glides and consonants and from velar consonants to palatal, etc., on well-known examples of former researchers. Those from the field of lexicology show shortly the formation of the lexemes and their evolution; the morphology and syntax are explained by examples of the development of grammar and syntax forms, and the importance of the historical approach in the research of place-names and personal names is briefly outlined through examples of place-names and personal names and surnames, and the conclusions that come from it, in different languages.

Keywords: animal speech, glotogenesis, grammar forms, lexicology, place-names, personal names, surnames, syntax categories

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Authors: Miriam Sosa, Edgar Ortiz, Alejandra Cabello

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This paper examines the volatility changes and leverage effects of the MILA stock markets and their changes since the 2007 global financial crisis. This group integrates the stock markets from Chile, Colombia, Mexico and Peru. Volatility changes and leverage effects are tested with a symmetric GARCH (1,1) and asymmetric TARCH (1,1) models with a dummy variable in the variance equation. Daily closing prices of the stock indexes of Chile (IPSA), Colombia (COLCAP), Mexico (IPC) and Peru (IGBVL) are examined for the period 2003:01 to 2015:02. The evidence confirms the presence of an overall increase in asymmetric market volatility in the Peruvian share market since the 2007 crisis.

Keywords: financial crisis, Latin American Integrated Market, TARCH, GARCH

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Authors: R. Shayamapiki

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This study explores the applicability of applying new urbanism principles in cities of developing countries as a panacea towards building sustainable cities through implementing smart transportation. Smart transportation approach to planning has been growing remarkably around the globe in the past decade. In conquest to curb traffic congestion and reducing automobile dependency in the inner-city Harare, Smart Transportation has been a strong drive towards building sustainable cities. Conceptually, Smart Transportation constitutes of principles which include walking, cycling and mass transit. The Smart Transportation approach has been a success story in the cities of developing world but its application in the cities of developing countries has been doubtful. Cities of developing countries being multifaceted with several urban sustainability challenges, the study consolidates that there are no robust policy, legislative and institutional frameworks to govern the application of Smart Transportation in urban planning hence no clear roadway towards its success story. Questions regarding this investigation proliferate to; how capable are cities of developing countries to transform Smart Transportation principles to a success story? What victory can Smart Transportation bring to sustainable urban development? What are constraints of embracing the principles and how can they be manipulated? Methodologically the case study of urban syntax in Harare Central Business District and arterial roads of the city, legislation and institutional settings underpins various research outcomes. The study finds out the hindrances of policy, legislative and institutional incapacities cooked with economic constraints, lack of political will and technically inflexible zoning regulations. The study also elucidates that there is need to adopt a localized approach to Smart Transportation. The paper then calls for strengthening of institutional and legal reform in conquest to embrace the concept, policy and legislative support, feasible financial mechanism, coordination of responsible stakeholders, planning standards and regulatory frameworks reform to celebrate the success story of Smart Transportation in the developing world.

Keywords: inner-city Harare, new urbanism, smart transportation, sustainable cities

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Authors: Peter Adu

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Although research on the concept of Mental Health Literacy (MHL) is growing internationally, to the authors’ best of knowledge, the beliefs and knowledge of Ghanaians on specific mental disorders have not yet been explored. This vignette study was conducted to explore the relationships between religiosity, education, stigmatization, and MHL among Ghanaians using a sample of laypeople (N = 409). The adapted questionnaire presented two vignettes (depression and schizophrenia) about a hypothetical person. The results revealed that more participants were able to recognize depression (47.4%) than schizophrenia (15.9%). Religiosity was not significantly associated with recognition of mental disorders (MHL) but was positively related with both social and personal stigma for depression and negatively associated with personal and perceived stigma for schizophrenia. Moreover, education was found to relate positively with MHL and negatively with perceived stigma. Finally, perceived stigma was positively associated with MHL, whereas personal stigma for schizophrenia related negatively to MHL. In conclusion, education but not religiosity predicted identification accuracy, but both predictors were associated with various forms of stigma. Findings from this study have implications for MHL and anti-stigma campaigns in Ghana and other developing countries in the region.

Keywords: depression, education, mental health literacy, religiosity, schizophrenia

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Authors: Anano Tenieshvili, Teona Lodia

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Social anxiety disorder (SAD) is one of the most common mental health problems not only in adults but also in adolescents. Individuals with SAD exhibit difficulties in interpersonal relationships, understanding emotions, and regulating them as well. For social and emotional adaptation, it is crucial to identify, understand, accept and manage emotions correctly. Researchers actively learn those factors that contribute to the development and maintenance of this condition. Therefore, the main purpose of this study is to acquire knowledge about the association between social anxiety and individual characteristics, such as theory of mind (ToM), verbal irony comprehension, and personal traits. 112 adolescents aged from 12 to 18 were selected for this research. 15 of them are diagnosed with Social anxiety disorder. Statistical analysis was performed on the entire sample, and furthermore, two groups, adolescents with and without social anxiety disorder, were compared separately. Social anxiety and personal traits were assessed by questionnaires. Theory of mind and comprehension of verbal irony were measured using tests. Statistical analysis indicated a positive relationship between social anxiety and comprehension of ironic criticism. Moreover, social anxiety was significantly positively correlated with neuroticism and isolation tendency, whereas it was negatively related to extraversion and frustration tolerance. On top of that, statistical analysis revealed a positive relationship between ToM and verbal irony comprehension. However, the relationship between social anxiety and ToM was not statistically significant. In conclusion, the current research expands knowledge about social anxiety and supports the results of some previous studies.

Keywords: personal traits, social anxiety, theory of mind, verbal irony comprehension

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Authors: Anano Tenieshvili, Teona Lodia

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Social anxiety disorder (SAD) is one of the most common mental health problems not only in adults but also in adolescents. Individuals with SAD exhibit difficulties in interpersonal relationships, understanding emotions and regulating them as well. For social and emotional adaptation, it is crucial to identify, understand, accept and manage emotions correctly. Researchers actively learn those factors that contribute to the development and maintenance of this condition. Therefore, the main purpose of this study is to acquire knowledge about the association between social anxiety and individual characteristics, such as the theory of mind (ToM), verbal irony comprehension and personal traits. 112 adolescents aged from 12 to 18 were selected for this research. 15 of them are diagnosed with Social anxiety disorder. Statistical analysis was performed on the entire sample and furthermore, two groups, adolescents with and without a social anxiety disorder, were compared separately. Social anxiety and personal traits were assessed by questionnaires. Theory of mind and comprehension of verbal irony was measured using tests. Statistical analysis indicated a positive relationship between social anxiety and comprehension of ironic criticism. Moreover, social anxiety was significantly positively correlated with neuroticism and isolation tendency, whereas it was negatively related to extraversion and frustration tolerance. On top of that, statistical analysis revealed a positive relationship between ToM and verbal irony comprehension. However, the relationship between social anxiety and ToM was not statistically significant. In conclusion, the current research expands knowledge about social anxiety and supports the results of some previous studies.

Keywords: personal traits, social anxiety, theory of mind, verbal irony comprehension

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Authors: Erez Kita, Gil Luria

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This study examines gender as a boundary condition for the relationship between the psychological variable of mindfulness and the social variable of income with regards to the use of smartphones by young drivers. The use of smartphones while driving increases the likelihood of a car accident, endangering young drivers and other road users. The study sample included 186 young drivers who were legally permitted to drive without supervision. The subjects were first asked to complete questionnaires on mindfulness and income. Next, their smartphone use while driving was monitored over a one-month period. This study is unique as it used an objective smartphone monitoring application (rather than self-reporting) to count the number of times the young participants actually touched their smartphones while driving. The findings show that gender moderates the effects of social and personal factors (i.e., income and mindfulness) on the use of smartphones while driving. The pattern of moderation was similar for both social and personal factors. For men, mindfulness and income are negatively associated with the use of smartphones while driving. These factors are not related to the use of smartphones by women drivers. Mindfulness and income can be used to identify male populations that are at risk of using smartphones while driving. Interventions that improve mindfulness can be used to reduce the use of smartphones by male drivers.

Keywords: mindfulness, using smartphones while driving, income, gender, young drivers

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Authors: K. Raghuwaiya, B. Sharma, J. Vanualailai

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This paper presents a set of artificial potential field functions that improves upon; in general, the motion planning and posture control, with theoretically guaranteed point and posture stabilities, convergence and collision avoidance properties of the general 3-trailer system in a priori known environment. We basically design and inject two new concepts; ghost walls and the distance optimization technique (DOT) to strengthen point and posture stabilities, in the sense of Lyapunov, of our dynamical model. This new combination of techniques emerges as a convenient mechanism for obtaining feasible orientations at the target positions with an overall reduction in the complexity of the navigation laws. Simulations are provided to demonstrate the effectiveness of the controls laws.

Keywords: artificial potential fields, 3-trailer systems, motion planning, posture

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Authors: Mohammed Saeed Jawad

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Metaverse involves the convergence of three major technologies trends of AI, VR, and AR. Together these three technologies can provide an entirely new channel for delivering healthcare with great potential to lower costs and improve patient outcomes on a larger scale. Telepresence is the technology that allows people to be together even if they are physically apart. Medical doctors can be symbolic as interactive avatars developed to have smart conversations and medical recommendations for patients at the different stages of the treatment. Medical digital assets such as Medical IoT for real-time remote healthcare monitoring as well as the symbolic doctors’ avatars as well as the hospital and clinical physical constructions and layout can be immersed in extended realities 3D metaverse environments where doctors, nurses, and patients can interact and socialized with the related digital assets that facilitate the data analytics of the sensed and collected personal medical data with visualized interaction of the digital twin of the patient’s body as well as the medical doctors' smart conversation and consultation or even in a guided remote-surgery operation.

Keywords: personal healthcare, metaverse, telemedicine, telepresence, avatar, medical consultation, remote-surgery

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Authors: Nisha Harry

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The study discussed in this article sought to assess whether a sense of professional efficacy mediates the relationship between personal factors and career adaptability. A quantitative cross-sectional survey approach was followed. A non–probability sample of (N = 409) of which predominantly early career and permanently employed black females in call centres in Africa participated in this study. In order to assess personal factors, the participants completed sense of meaningfulness and emotional intelligence measures. Measures of professional efficacy and career adaptability were also completed. The results of the mediational analysis revealed that professional efficacy significantly mediates the meaningfulness (sense of coherence) and career adaptability relationship, but not the emotional intelligence–career adaptability relationship. Call centre agents with professional efficacy are likely to be more work engaged as a result of their sense of meaningfulness and emotional intelligence.

Keywords: call centre, professional efficacy, career adaptability, emotional intelligence

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Authors: Xuan Linh Nguyen, Tien Yin Chou, Yao Min Fang, Feng Cheng Lin, Thanh Van Hoang, Yin Min Huang

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In Vietnam, land use planning is the most important and powerful tool of the government for sustainable land use and land management. Nevertheless, many of land use planning locations are facing protests from surrounding households due to environmental impacts. In addition, locations are planned completely based on the subjective decisions of planners who are unsupported by tools or scientific methods. Hence, this research aims to assist the decision-makers in evaluating the rationality of planning locations by developing a Spatial Decision Support System (SDSS) using approaches of Geographic Information System (GIS)-based technology, Analytic Hierarchy Process (AHP) multi-criteria-based technique and Fuzzy set theory. An ArcGIS Desktop add-ins named SDSS-LUPA was developed to support users analyzing data and presenting results in friendly format. The Fuzzy-AHP method has been utilized as analytic model for this SDSS. There are 18 planned locations in Hung Ha district (Thai Binh province, Vietnam) as a case study. The experimental results indicated that the assessment threshold higher than 0.65 while the 18 planned locations were irrational because of close to residential areas or close to water sources. Some potential sites were also proposed to the authorities for consideration of land use planning changes.

Keywords: analytic hierarchy process, fuzzy set theory, land use planning, spatial decision support system

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Authors: Melissa James Maceachern

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This study examines a financial aid program that is designed to “keep residents at home” to attend higher education by providing financial aid as an incentive or discount in their first year of university following high school graduation. This study offers insight into financial matters for higher education students that can assist in providing policy direction for student financing. In particular, this study found that students appeared to value the bursary but none of the key metrics related to participation or conversion to the home institution indicated that the bursary impacted enrolment or participation. One key metric, student loans received by direct entry high school students did indicate a decline in the number of recipients. This study also identified accessibility issues to higher education that are of importance when considering the declining youth populations, future labour market needs and the need to sustain higher education institutions. This is undoubtedly a challenging period of time given the changing social and demographic forces within Canada. A comprehensive examination of the policy and programs to address these forces needs to be undertaken. This study highlights the importance of utilizing financial aid in combination with other policy to assist students in accessing higher education.

Keywords: accessibility, participation, financing, government

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Authors: Provides Ng

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Platform economy is a peer-to-peer model of distributing resources facilitated by community-based digital platforms. In recent years, digital platforms are rapidly reconfiguring the public realm using hyper-personalisation techniques. This paper aims at investigating how urban planning can leapfrog into the digital age to help relieve the rising tension of the global issue of labour flow; it discusses the means to transfer techniques of hyper-personalisation into urban planning for plasticity using platform technologies. This research first denotes the limitations of the current system of urban residency, where the system maintains itself on the circulation of documents, which are data on paper. Then, this paper tabulates how some of the institutions around the world, both public and private, digitise data, and streamline communications between a network of systems and citizens using platform technologies. Subsequently, this paper proposes ways in which hyper-personalisation can be utilised to form a digital planning platform. Finally, this paper concludes by reviewing how the proposed strategy may help to open up new ways of thinking about how we affiliate ourselves with cities.

Keywords: platform urbanism, hyper-personalisation, digital inventory, urban accessibility

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Authors: Hsin-Yun Lee

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In this study, the pedestrian simulation VISWALK integration and application platform ant algorithms written program made to construct a renovation engineering schedule planning mode. The use of simulation analysis platform construction site when the user running the simulation, after calculating the user walks in the case of construction delays, the ant algorithm to find out the minimum delay time schedule plan, and add volume and unit area deactivated loss of business computing, and finally to the owners and users of two different positions cut considerations pick out the best schedule planning. To assess and validate its effectiveness, this study constructed the model imported floor of a shopping mall floor renovation engineering cases. Verify that the case can be found from the mode of the proposed project schedule planning program can effectively reduce the delay time and the user's walking mall loss of business, the impact of the operation on the renovation engineering facilities in the building to a minimum.

Keywords: pedestrian, renovation, schedule, simulation

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Authors: Paula C. Ferreira, Ana Margarida Veiga Simão, Nádia Pereira, Aristides Ferreira, Alexandra Marques Pinto, Alexandra Barros, Vitor Martinho

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Cyberbullying is a phenomenon of worldwide concern regarding children and adolescents’ mental health and risk behavior. Bystanders of this phenomenon can help diminish the incidence of this phenomenon if they engage in pro-social behavior. However, different social-cognitive and affective bystander reactions may surface because of the lack of contextual information and emotional cues in cyberbullying situations. Hence, this study investigated how cyberbullying bystanders’ unpleasant emotions could be related to their personal moral beliefs and their behavioral intentions to cyberbully or defend the victim. It also proposed to investigate how their normative beliefs of perceived severity about cyberbullying behavior could be related to their personal moral beliefs and their behavioral intentions. Three groups of adolescents participated in this study, namely a first of group 402 students (5th – 12th graders; Mage = 13.12; SD = 2.19; 55.7% girls) to compute explorative factorial analyses of the instruments used; a second group of 676 students (5th – 12th graders; Mage = 14.10; SD = 2.74; 55.5% were boys) to run confirmatory factor analyses; and a third group (N = 397; 5th – 12th graders; Mage = 13.88 years; SD = 1.45; 55.5% girls) to perform the main analyses to test the research hypotheses. Self-report measures were used, such as the Personal moral beliefs about cyberbullying behavior questionnaire, the Normative beliefs of perceived severity about cyberbullying behavior questionnaire, the Unpleasant emotions about cyberbullying incidents questionnaires, and the Bystanders’ behavioral intentions in cyberbullying situations questionnaires. Path analysis results revealed that unpleasant emotions were mediators of the relationship between adolescent cyberbullying bystanders’ personal moral beliefs and their intentions to help the victims in cyberbullying situations. Moreover, adolescent cyberbullying bystanders’ normative beliefs of gravity were mediators of the relationship between their personal moral beliefs and their intentions to cyberbully others. These findings provide insights for the development of prevention and intervention programs that promote social and emotional learning strategies as a means to prevent and intervene in cyberbullying.

Keywords: cyberbullying, normative beliefs of perceived severity, personal moral beliefs, unpleasant emotions

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Authors: D. Pérez, M. M. E. Alemany

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In this work a Framework to model the Supply Chain (SC) Collaborative Planning (CP) Process is proposed, and particularly its Decisional view. The main Framework contributions with regards to previous related works are the following, 1) the consideration of not only the Decision view, the most important one due to the Process type, but other additional three views which are the Physical, Organisation and Information ones, closely related and complementing the Decision View, 2) the joint consideration of two interdependence types, the Temporal (among Decision Centres belonging to different Decision Levels) and Spatial (among Decision Centres belonging to the same Decision Level) to support the distributed Decision-Making process in SC where several decision Centres interact among them in a collaborative manner.

Keywords: collaborative planning, decision view, distributed decision-making, framework

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Authors: Ahmed BenSaïda

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This paper investigates the association between financial technology (FinTech) growth and bank performance in the Gulf Cooperation Council (GCC) region. Application is conducted on a panel dataset containing the annual observations of banks covering the period from 2012 to 2021. FinTech growth is set as an explanatory variable on three proxies of bank performance. These proxies are the return on assets (ROA), return on equity (ROE), and net interest margin (NIM). Moreover, several control variables are added to the model, including bank-specific and macroeconomic variables. The results are significant as all the proxies of the bank performance are negatively affected by the growth of FinTech startups. Consequently, banks are urged to proactively invest in FinTech startups and engage in partnerships to avoid the risk of disruption.

Keywords: financial technology, bank performance, GCC countries, panel regression

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Authors: Aleksandra Szunke

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Monetary policy is an important pillar of the economy, directly affecting on the condition of banking sector. Depending on the strategy may both support functioning of banking institutions, as well as limit their excessively risky activities. The literature studies indicate a large number of publications, which include characteristics of initiatives, implemented by central banks during the global financial crisis and the potential effects of the use of non-standard monetary policy instruments. However, the empirical evidence about their effects and real consequences for the financial markets are still not final. Even before the escalation of instability, Bernanke, Reinhart, and Sack (2004) analyzed the effectiveness of various unconventional monetary tools in lowering long-term interest rates in the United States and Japan. The obtained results largely confirmed the effectiveness of the zero-interest-rate policy and Quantitative Easing (QE) in achieving the goal of reducing long-term interest rates. Japan, considered as the precursor of QE policy, also conducted research about the consequences of non-standard instruments, implemented to restore financial stability of the country. Although the literature about the effectiveness of Quantitative Easing in Japan is extensive, it does not uniquely specify whether it brought permanent effects. The main aim of the study is to identify the implications of non-standard monetary policy, implemented by selected central banks (the Federal Reserve System, Bank of England and European Central Bank), paying particular attention to the consequences into three areas: the size of money supply, financial markets, and the real economy.

Keywords: consequences of modern monetary policy, quantitative easing policy, banking sector instability, global financial crisis

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Authors: Zeinab Aliyas

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Walking is known as the most common type of physical activity that helps mental and physical health of people. In the recent years, promoting walking activity in neighborhood areas and cities become as one of the important issues in terms of sustainable cities. Therefore the study aimed to investigate the influence of fear of crime and personal barriers as social and personal factor respectively on neighborhood walking. 464 questionnaires in Bandar Baru Bangi in Malaysia was distributed to collect data, and finally, 424 questionnaires were qualified to be used in the study. The Smart-PLS was used to analyze the data. The findings of the study revealed that individual barriers and fear of crime both have significant influence on the level of walking behavior in the neighborhood area. It was found that fear of crime has higher influence on walking behavior in comparison to individual factors. The finding of this study can help urban researcher and planner to know the significant influence of crime safety and individual attitudes on the level of walking activity.

Keywords: fear of crime, neighborhood walking, personal barriers, residential neighborhood

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Authors: Batool Zarei

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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

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Authors: Martin Bugeja, Helen Spiropolos

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Using a sample of U.S. firms during the period 1993-2015, this study examines whether mergers and acquisitions (M&A) impact the compensation of the Chief Financial Officer (CFO) in the bidding and integration phases of M&As. The study finds that after controlling for CEO power, CFOs’ total compensation is higher during M&A years and is driven by higher equity incentives. These results are robust to controlling for self-selection. Furthermore, CFOs receive a greater bonus during the year of acquisition and the year prior. The study also investigates if CFO compensation during M&A years is driven by M&A characteristics and finds that deal size and diversification are positively related to total compensation while completion time is negatively related. The results are robust to a number of sensitivity tests and additional analyses.

Keywords: chief financial officer, compensation, mergers, acquisitions

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Authors: Kamlesh Shashikant Dave

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The global financial crisis is rooted in the sub-prime crisis in U.S.A. During the boom years, mortgage brokers attracted by the big commission, encouraged buyers with poor credit to accept housing mortgages with little or no down payment and without credit check. A combination of low interest rates and large inflow of foreign funds during the booming years helped the banks to create easy credit conditions for many years. Banks lent money on the assumptions that housing price would continue to rise. Also the real estate bubble encouraged the demand for houses as financial assets .Banks and financial institutions later repackaged these debts with other high risk debts and sold them to worldwide investors creating financial instruments called collateral debt obligations (CDOs). With the rise in interest rate, mortgage payments rose and defaults among the subprime category of borrowers increased accordingly. Through the securitization of mortgage payments, a recession developed in the housing sector and consequently it was transmitted to the entire US economy and rest of the world. The financial credit crisis has moved the US and the global economy into recession. Indian economy has also affected by the spill over effects of the global financial crisis. Great saving habit among people, strong fundamentals, strong conservative and regulatory regime have saved Indian economy from going out of gear, though significant parts of the economy have slowed down. Industrial activity, particularly in the manufacturing and infrastructure sectors decelerated. The service sector too, slow in construction, transport, trade, communication, hotels and restaurants sub sectors. The financial crisis has some adverse impact on the IT sector. Exports had declined in absolute terms in October. Higher inputs costs and dampened demand have dented corporate margins while the uncertainty surrounding the crisis has affected business confidence. To summarize, reckless subprime lending, loose monetary policy of US, expansion of financial derivatives beyond acceptable norms and greed of Wall Street has led to this exceptional global financial and economic crisis. Thus, the global credit crisis of 2008 highlights the need to redesign both the global and domestic financial regulatory systems not only to properly address systematic risk but also to support its proper functioning (i.e financial stability).Such design requires: 1) Well managed financial institutions with effective corporate governance and risk management system 2) Disclosure requirements sufficient to support market discipline. 3)Proper mechanisms for resolving problem institution and 4) Mechanisms to protect financial services consumers in the event of financial institutions failure.

Keywords: FIIs, BSE, sensex, global impact

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Authors: Αlexios Kotsakis, Stefanos Katsavounis, Dimitra Alexiou

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Networks can be utilized to represent project planning problems, using nodes for activities and arcs to indicate precedence relationship between them. For fixed activity duration, a simple algorithm calculates the amount of time required to complete a project, followed by the activities that comprise the critical path. Program Evaluation and Review Technique (PERT) generalizes the above model by incorporating uncertainty, allowing activity durations to be random variables, producing nevertheless a relatively crude solution in planning problems. In this paper, based on the findings of the relevant literature, which strongly suggests that a Beta distribution can be employed to model earthmoving activities, we utilize Monte Carlo simulation, to estimate the project completion time distribution and measure the influence of skewness, an element inherent in activities of modern technical projects. We also extract the activity criticality index, with an ultimate goal to produce more accurate planning estimations.

Keywords: beta distribution, PERT, Monte Carlo simulation, skewness, project completion time distribution

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Authors: Anant Sagar, Manisha Rana, Surabhi Singhal

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This study was aimed at analysing the effectiveness of manager-subordinate relationship and the different factors contributing to its effectiveness in a mid-sized IT organization. To define effectiveness in context of a manager-subordinate relationship, a model was framed which analyses personal and professional need fulfilment of subordinates. On basis of this need satisfaction based effectiveness model, relationships are categorized into four types anchored on two scales; Personal Need Satisfaction and Professional Need Satisfaction. These spatial effectiveness scores of a managerial relationship are further mapped with the relationship style of the manager to identify relationship styles which are associated with different effectiveness levels. The relationship style is analysed by using Impact Message Inventory-Circumplex (IMI-C). The results show that managerial relationship’s effectiveness is contingent on manager’s affiliation scores, subordinate’s previous work experience and the ability of managers to influence the personal and professional needs of employees through organizational policies. The findings reflect that effectiveness of manager-subordinate relationship increased in a friendly workplace where managers were adequately empowered to acknowledge employee needs.

Keywords: relationship effectiveness, need fulfilment, managerial style, impact message inventory-circumplex

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Authors: Ziba R. Tehrani, Sanaz Moayer

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In the age of the knowledge-based economy, knowledge management has become a key factor in sustainable competitive advantage. Knowledge management is discovering, acquiring, developing, sharing, maintaining, evaluating, and using right knowledge in right time by right person in organization; which is accomplished by creating a right link between human resources, information technology, and appropriate structure, to achieve organisational goals. Studying knowledge management financial institutes shows the knowledge management in banking system is not different from other industries but because of complexity of bank’s environment, the implementation is more difficult. The bank managers found out that implementation of knowledge management will bring many advantages to financial institutes, one of the most important of which is reduction of threat to lose subsequent information of personnel job quit. Also Special attention to internal conditions and environment of the financial institutes and avoidance from copy-making in designing the knowledge management is a critical issue. In this paper, it is tried first to define knowledge management concept and introduce existing models of knowledge management; then some of the most important models which have more similarities with other models will be reviewed. In second step according to bank requirements with focus on knowledge management approach, most major objectives of knowledge management are identified. For gathering data in this stage face to face interview is used. Thirdly these specified objectives are analysed with the response of distribution of questionnaire which is gained through managers and expert staffs of ‘Karafarin Bank’. Finally based on analysed data, some features of exiting models are selected and a new conceptual model will be proposed.

Keywords: knowledge management, financial institute, knowledge management model, organisational knowledge

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Authors: Moses Pinto, Ana Paula Monte

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The present research analyses the interactions between various categories of corporate social responsibility (CSR) that mediate the relationship between CSR and financial performance in Multinational Enterprises (MNE) in light of the present socio-political factors prevalent in the countries under observation. In the research it has been hypothesized that the absence of consensus in the empirical literature on the CSR–financial performance relationship may be explained by the existence of synergies (Complementarities) between the different CSR components. Upon investigation about whether such relationships exist, a final unbalanced panel sample of 1000 observations taken from 100 Multinational Enterprises per year functioning in the Schengen countries and one south east Asian country namely: India, over the span of 10 years i.e. from the year 2008 to 2018 has been analyzed. The empirical analysis used in the research methodology employs dynamic Panel Data in time series specifically, the system Generalized Method of Moments (GMM) which had been used to detect the varying degrees of relationships between the CSR and financial performance parameters in the background of the socio-political factors prevailing in the countries at the time and also taking into account the bilateral treaty obligations between the countries under observation. The econometric model has employed the financial ratio namely the Return on Assets (ROA) as an indicator of financial performance in order to gauge the internal performance and valuation of a firm as opposed to the Tobin’s Q that provides for the external evaluation of a firm’s financial performance which may not always be accurate. The various CSR dimensions have demonstrated significant correlations to the ‘ROA’ which include some negatively associated correlations and one positively associated correlation that is highly significant throughout the analysis of the observations, namely the correlation between the ‘ROA’ and the CSR dimension: ‘Environment’. The results provide a deeper insight in the synergistic CSR activities that managers could adapt into their Firm’s CSR strategy in order to enhance the ‘ROA’ and also to understand which interactions between the CSR dimensions can be adapted together due to their positively correlated association with each other and the ROA. The future lines of research would be inclined to investigate the effects of socio-political factors on the ROA of the MNEs through better designed econometric models.

Keywords: CSR, financial performance, complementarity, sociopolitical factors

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Authors: Mohamed Fairooz Abdul Khir

Abstract:

The linkage between liability for risk and legitimacy of reward is a governing principle that must be fully observed in financial transactions. It is the cornerstone of any Islamic business or financial deal. The absence of risk taking principle may give rise to numerous prohibited elements such as ribā, gharar and gambling that violate the objectives of financial transactions. However, fiqhī domains from which it emanates have not been clearly spelled out by the scholars. In addition, the concept of risk taking in relation to contemporary risks associated with financial contracts, such as credit risk, liquidity risk, reputational risk and market risk, needs further scrutiny as regard their Sharīʿah bases. Hence, this study is imperatively significant to prove that absence of risk taking concept in Islamic financial instruments give rise to prohibited elements particularly ribā. This study is primarily intended to clarify the concept of risk in Islamic financial transactions from the fiqhī perspective and evaluate analytically the selected issues involving risk taking based on the established concept of risk taking from fiqhī viewpoint. The selected issues are amongst others charging cost of fund on defaulting customers, holding the lessee liable for total loss of leased asset under ijārah thumma al-bayʿ and capital guarantee under mushārakah based instruments. This is a library research in which data has been collected from various materials such as classical fiqh books, regulators’ policy guidelines and journal articles. This study employed deductive and inductive methods to analyze the data critically in search for conclusive findings. It suggests that business risks have to be evaluated based on their subjects namely (i) property (māl) and (ii) work (ʿamal) to ensure that Islamic financial instruments structured based on certain Sharīʿah principles are not diverted from the risk taking concept embedded in them. Analysis of the above selected cases substantiates that when risk taking principle is breached, the prohibited elements such as ribā, gharar and maysir do arise and that they impede the realization of the maqāṣid al-Sharīʿah intended from Islamic financial contracts.

Keywords: Islamic finance, ownership risk, ribā, risk taking

Procedia PDF Downloads 323

Authors: Halil Ibrahim Demir, Tarık Cakar, Ibrahim Cil, Muharrem Dugenci, Caner Erden

Abstract:

Conventionally, process planning, scheduling, and due-date assignment functions are performed separately and sequentially. The interdependence of these functions requires integration. Although integrated process planning and scheduling, and scheduling with due date assignment problems are popular research topics, only a few works address the integration of these three functions. This work focuses on the integration of process planning, WMS scheduling, and WPPW due date assignment. Another novelty of this work is the use of a weighted due date assignment. In the literature, due dates are generally assigned without considering the importance of customers. However, in this study, more important customers get closer due dates. Typically, only tardiness is punished, but the JIT philosophy punishes both earliness and tardiness. In this study, all weighted earliness, tardiness, and due date related costs are penalized. As no customer desires distant due dates, such distant due dates should be penalized. In this study, various levels of integration of these three functions are tested and genetic search and random search are compared both with each other and with ordinary solutions. Higher integration levels are superior, while search is always useful. Genetic searches outperformed random searches.

Keywords: process planning, weighted scheduling, weighted due-date assignment, genetic algorithm, random search

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Authors: Abdurrahman Karacabey

Abstract:

Threat paradigm has shifted throughout the history. Considering conjuncture of our time, a major threat for humanity is terrorism. Although variety of reasons are influential, financial, and human resources are the vital needs for terrorist groups. It is known that terrorism is a significant term while taking decisions in diplomatic, politic, and military issues. Even though the methods to provide resources for terrorism are quite similar, there are still some differences for deterrent terrorist groups being active in various regions of the globe. Due to social and psychological reasons activists have generally similar excuses to join terrorist groups.At the same time, terrorists’ fiscal activities to secure permanence of terrorism, occupy the politics of the countries. Besides, preventive actions are expensive creating huge burdens in host nation’s economy. This paper elaborates on how ISIS is providing human and economic resources, course of actions to overcome ISIS is on the agenda of all countries.

Keywords: financial resources, human resources, isis, terrorism

Procedia PDF Downloads 400