Search results for: stock options

Authors: Ozden Saygili, Eser Cakti

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The masonry building stock in Istanbul and in other cities of Turkey are exposed to significant earthquake hazard. Determination of the safety of masonry structures against earthquakes is a complex challenge. This study deals with experimental tests and non-linear dynamic analysis of masonry structures modeled through discrete element method. The 1:10 scale model of Mustafa Paşa Mosque was constructed and the data were obtained from the sensors on it during its testing on the shake table. The results were used in the calibration/validation of the numerical model created on the basis of the 1:10 scale model built for shake table testing. 3D distinct element model was developed that represents the linear and nonlinear behavior of the shake table model as closely as possible during experimental tests. Results of numerical analyses with those from the experimental program were compared and discussed.

Keywords: dynamic analysis, non-linear modeling, shake table tests, masonry

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Authors: Golamhassan Ghahramani Aghdam, Pedram Bavili Tabrizi

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The aim of this research is to investigate the relationship between accounting information and the value of the companies accepted in Tehran Exchange Market. The dependent variable in this research is the value of a company that is measured by price coefficients, and the independent variables are balance sheet information, profit and loss information, cash flow state information, and profit quality characteristics. The profit quality characteristic index is to be related and to be on-time. This research is an application research, and the research population includes all companies that are active in Tehran exchange market. The number of 194 companies was selected by the systematic method as the statistics sample in the period of 2018-2019. The multi-variable linear regression model was used for the hypotheses test. The results show that there is no relationship between accounting information and companies’ value (stock value) that can be due to the lack of efficiency of the investment market and the inability to use the accounting information by investment market activists.

Keywords: accounting information, company value, profit quality characteristics, price coefficient

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Authors: Naveed Ul Hassan, Bilal Aziz, Maryam Mushtaq, Imran Ameen Khan

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Equity risk premium (ERP) is the stock return in excess of risk free return. Even though it is an essential topic of finance but still there is no common consensus upon its forecasting. For forecasting ERP, apart from the macroeconomic variables attention is devoted to technical indicators as well. For this purpose, set of 14 technical and 14 macro-economic variables is selected and all forecasts are generated based on a standard predictive regression framework, where ERP is regressed on a constant and a lag of a macroeconomic variable or technical indicator. The comparative results showed that technical indicators provide better indications about ERP estimates as compared to macro-economic variables. The relative strength of ERP predictability is also investigated by using National Bureau of Economic Research (NBER) data of business cycle expansion and recessions and found that ERP predictability is more than twice for recessions as compared to expansions.

Keywords: equity risk premium, forecasting, macroeconomic indicators, technical indicators

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Authors: Xinyi Gao, Xiaoyun Feng, Ruijie Liu, Yumin Xia, Min Shao, Xinqing Wang

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This paper outlines the travel challenges, the absence of society, and studies around disabled women and chooses the Chongqing area as a case study to explore how terrain characteristics and city construction influence our subject's travel choice. It also highlights future transport options and the necessity of addressing the difficult travel position of women with disabilities. This study focuses on the travel demands of women with disabilities, illustrating what their ideal method of travel would be. An analysis of related smart cities like Hong Kong illustrates the aspects to consider in the reconstruction of Chongqing. Finally, relying on current smart city modelling approaches, several design ideas for assistive tools are suggested for the safety of women with disabilities during travel.

Keywords: future smart city, disabled women, Chongqing, inclusive design, human-computer interaction

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Authors: Chin Tangtarntana

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The main purpose of this study was to investigate the effects of animation in offensive product advertising. Experiment was conducted to collect consumer responses toward animated and static ads of offensive and non-offensive products. The study was conducted by distributing questionnaires to the target respondents. According to statistics from Innovative Internet Research Center, Thailand, majority of internet users are 18 – 44 years old. The results revealed an interaction between ad design and offensive product. Specifically, when used in offensive product advertisements, animated ads were not effective for consumer attention, but yielded positive response in terms of attitude toward product. The findings support that information processing model is accurate in predicting consumer cognitive response toward cartoon ads, whereas U&G, arousal, and distinctive theory is more accurate in predicting consumer affective response. In practical, these findings can also be used to guide ad designers and marketers that are suitable for offensive products.

Keywords: animation, banner ad design, consumer responses, offensive product advertising, stock exchange of Thailand

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Authors: Adeiza Matthew, Oluwadamilola Abubakar

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Wood energy, also known as wood fuel, is a renewable energy source that is derived from woody biomass, which is organic matter that is harvested from forests, woodlands, and other lands. Woody biomass includes trees, branches, twigs, and other woody debris that can be used as fuel. Wood energy can be classified based on its sources, such as trees outside forests, residues from wood harvesting and conversion, and energy plantations. There are several policy frameworks that support the use of wood energy, including participatory forest management and agroforestry. These policies aim to promote the sustainable use of woody biomass as a source of energy while also protecting forests and wildlife habitats. There are several options for using wood as a fuel, including central heating systems, pellet-based systems, wood chip-based systems, log boilers, fireplaces, and stoves. Each of these options has its own benefits and drawbacks, and the most appropriate option will depend on factors such as the availability of woody biomass, the heating needs of the household or facility, and the local climate. In order to use wood as a fuel, it must be harvested and stored properly. Hardwood or softwood can be used as fuel, and the heating value of firewood depends on the species of tree and the degree of moisture content. Proper harvesting and storage of wood can help to minimize environmental impacts and improve wildlife habitats. The use of wood energy has several environmental impacts, including the release of greenhouse gases during combustion and the potential for air pollution from combustion by-products. However, wood energy can also have positive environmental impacts, such as the sequestration of carbon in trees and the reduction of reliance on fossil fuels. The regulation and legislation of wood energy vary by country and region, and there is an ongoing debate about the potential use of wood energy in renewable energy technologies. Wood energy is a renewable energy source that can be used to generate electricity, heat, and transportation fuels. Woody biomass is abundant and widely available, making it a potentially significant source of energy for many countries. The use of wood energy can create local economic and employment opportunities, particularly in rural areas. Wood energy can be used to reduce reliance on fossil fuels and reduce greenhouse gas emissions. Properly managed forests can provide a sustained supply of woody biomass for energy, helping to reduce the risk of deforestation and habitat loss. Wood energy can be produced using a variety of technologies, including direct combustion, co-firing with fossil fuels, and the production of biofuels. The environmental impacts of wood energy can be minimized through the use of best practices in harvesting, transportation, and processing. Wood energy is regulated and legislated at the national and international levels, and there are various standards and certification systems in place to promote sustainable practices. Wood energy has the potential to play a significant role in the transition to a low-carbon economy and the achievement of climate change mitigation goals.

Keywords: biomass, timber, charcoal, firewood

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Authors: Birome Holo Ba, Christian Prins, Caroline Prodhon

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Optimization is an important aspect of logistics management. It can reduce significantly logistics costs and also be a good tool for decision support. In this paper, we address a planning problem specific to biomass supply chain. We propose a new mixed integer linear programming (MILP) model dealing with different feed stock production operations such as harvesting, packing, storage, pre-processing and transportation, with the objective of minimizing the total logistic cost of the system on a regional basis. It determines the optimal number of harvesting machine, the fleet size of trucks for transportation and the amount of each type of biomass harvested, stored and pre-processed in each period to satisfy demands of refineries in each period. We illustrate the effectiveness of the proposal model with a numerical example, a case study in Aube (France department), which gives preliminary and interesting, results on a small test case.

Keywords: biomass logistics, supply chain, modelling, optimization, bioenergy, biofuels

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Authors: Omid Tavakol, Mahnaz Gholami

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Introduction : In this oral presentation the main goal is discussing immediate loading in dental implants , from treatment planning and surgical guide designing to delivery , follow up and occlusal consideration . Methods and materials : first of all systematic reviews about immediate loading will be considered . besides , a comparison will be made between immediate loading and conventional loading in terms of success rate and complications . After that different methods , prosthetic options and materials best used in immediate loading will be explained. Particularly multi unit abutments and their mechanism of function will be explained .Digital impressions and designing the temporaries is the next topic we are to explicate .Next issue is the differences between single unit , multiple unit and full arch implantation in immediate loading .Following we are going to describe methods for tissue engineering and papilla formation after extraction . Last slides are about a full mouth rehabilitation via immediate loading technique from surgical designing to follow up .At the end we would talk about potential complications , how to prevent from occurrence and what to do if we face up with .

Keywords: guided surgery, digital implantology, immediate loading, digital dentistry

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Authors: Giriraj Achari, Malay Bhattacharyya

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In this paper, the effectiveness of Copula Markov Switching Multifractal (MSM) models at forecasting Value-at-Risk of a two-stock portfolio is studied. The innovations are allowed to be drawn from distributions that can capture skewness and leptokurtosis, which are well documented empirical characteristics observed in financial returns. The candidate distributions considered for this purpose are Johnson-SU, Pearson Type-IV and α-Stable distributions. The two univariate marginal distributions are combined using the Student-t copula. The estimation of all parameters is performed by Maximum Likelihood Estimation. Finally, the models are compared in terms of accurate Value-at-Risk (VaR) forecasts using tests of unconditional coverage and independence. It is found that Copula-MSM-models with leptokurtic innovation distributions perform slightly better than Copula-MSM model with Normal innovations. Copula-MSM models, in general, produce better VaR forecasts as compared to traditional methods like Historical Simulation method, Variance-Covariance approach and Copula-Generalized Autoregressive Conditional Heteroscedasticity (Copula-GARCH) models.

Keywords: Copula, Markov Switching, multifractal, value-at-risk

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Authors: Jingxiao Liang, David Rooneyman

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Biogas, which is a valuable renewable energy source, can be produced by anaerobic fermentation of agricultural waste, manure, municipal waste, plant material, sewage, green waste, or food waste. It is composed of methane (CH4) and carbon dioxide (CO2) but also contains significant quantities of undesirable compounds such as hydrogen sulfide (H2S), ammonia (NH3), and siloxanes. Since typical raw biogas contains 25–45% CO2, The requirements for biogas quality depend on its further application. Before biogas is being used more efficiently, CO2 should be removed. One of the existing options for biogas separation technologies is based on chemical absorbents, in particular, mono-, di- and tri-alcohol amine solutions. Such amine solutions have been applied as highly efficient CO2 capturing agents. The benchmark in this experiment is N-methyldiethanolamine (MDEA) with piperazine (PZ) as an activator, from CO2 absorption Isotherm curve, optimization conditions are collected, such as activator percentage, temperature etc. This experiment makes new alcohol amines, which could have the same CO2 absorbing ability as activated MDEA, using glycidol as one of reactant, the result is quite satisfying.

Keywords: biogas, CO2, MDEA, separation

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Authors: Alex Ellery

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Solar power satellites (SPS), despite their promise as a clean energy source, have been relegated out of consideration due to their enormous cost and technological challenge. It has been suggested that for solar power satellites to become economically feasible, launch costs must decrease from their current $20,000/kg to < $200/kg. Even with the advent of single-stage-to-orbit launchers which propose launch costs dropping to $2,000/kg, this will not be realized. Yet, the advantages of solar power satellites are many. Here, I present a novel approach to reduce the specific cost of solar power satellites to ~$1/kg by leveraging two enabling technologies – in-situ resource utilization and 3D printing. The power of such technologies will open up enormous possibilities for providing additional options for combating climate change whilst meeting demands for global energy. From the constraints imposed by in-situ resource utilization, a novel approach to solar energy conversion in SPS may be realized.

Keywords: clean energy sources, in-situ resource utilisation, solar power satellites, thermionic emission

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Authors: Nader Al-Rashidi, David Greenhalgh

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Mathematical modelling techniques are now being used by health organizations worldwide to help understand the likely impact that intervention strategies treatment options and combinations of these have on the prevalence and incidence of hepatitis C virus (HCV) in the people who inject drugs (PWID) population. In this poster, we develop a deterministic, compartmental mathematical model to approximate the spread of the HCV in a PWID population that has been divided into two groups by time since onset of injection. The model assumes that after injection needles adopt the most infectious state of their previous state or that of the PWID who last injected with them. Using analytical techniques, we find that the model behaviour is determined by the basic reproductive number R₀, where R₀ = 1 is a critical threshold separating two different outcomes. The disease-free equilibrium is globally stable if R₀ ≤ 1 and unstable if R₀ > 1. Additionally, we make some simulations where have confirmed that the model tends to this endemic equilibrium value with realistic parameter values giving an HCV prevalence.

Keywords: hepatitis C, people who inject drugs, HCV, PWID

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Authors: Arslan Murtaza

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RFID (Radio Frequency Identification) and WSN (Wireless sensor network) are two significant wireless technologies that have extensive diversity of applications and provide limitless forthcoming potentials. RFID is used to identify existence and location of objects whereas WSN is used to intellect and monitor the environment. Incorporating RFID with WSN not only provides identity and location of an object but also provides information regarding the condition of the object carrying the sensors enabled RFID tag. It can be widely used in stock management, asset tracking, asset counting, security, military, environmental monitoring and forecasting, healthcare, intelligent home, intelligent transport vehicles, warehouse management, and precision agriculture. This assessment presents a brief introduction of RFID, WSN, and integration of WSN and RFID, and then applications related to both RFID and WSN. This assessment also deliberates status of the projects on RFID technology carried out in different computing group projects to be taken on WSN and RFID technology.

Keywords: wireless sensor network, RFID, embedded sensor, Wi-Fi, Bluetooth, integration, time saving, cost efficient

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Authors: Hamed Delrobai Ghoochan Atigh

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Androgenic alopecia (AGA) is a common form of hair loss, impacting approximately 50% of females, which leads to reduced self-esteem and quality of life. It causes progressive follicular miniaturization in genetically predisposed individuals. Mesotherapy -- a minimally invasive procedure, topical 2% minoxidil, and oral finasteride have emerged as popular treatment options in the realm of cosmetics. However, the efficacy of mesotherapy compared to other options remains unclear. This study aims to assess the effectiveness of mesotherapy when it is added to topical 2% minoxidil treatment on female androgenic alopecia. Mesotherapy, also known as intradermotherapy, is a technique that entails administering multiple intradermal injections of a carefully composed mixture of compounds in low doses, applied at various points in close proximity to or directly over the affected areas. This study involves a randomized controlled trial with 100 female participants diagnosed with androgenic alopecia. The subjects were randomly assigned to two groups: Group A used topical 2% minoxidil twice daily and took Finastride oral tablet. For Group B, 10 mesotherapy sessions were added to the prior treatment. The injections were administered every week in the first month of treatment, every two weeks in the second month, and after that the injections were applied monthly for four consecutive months. The response assessment was made at baseline, the 4th session, and finally after 6 months when the treatment was complete. Clinical photographs, 7-point Likert scale patient self-evaluation, and 7-point Likert scale assessment tool were used to measure the effectiveness of the treatment. During this evaluation, a significant and visible improvement in hair density and thickness was observed. The study demonstrated a significant increase in treatment efficacy in Group B compared to Group A post-treatment, with no adverse effects. Based on the findings, it appears that mesotherapy offers a significant improvement in female AGA over minoxidil. Hair loss was stopped in Group B after one month and improvement in density and thickness of hair was observed after the third month. The findings from this study provide valuable insights into the efficacy of mesotherapy in treating female androgenic alopecia. Our evaluation offers a detailed assessment of hair growth parameters, enabling a better understanding of the treatments' effectiveness. The potential of this promising technique is significantly enhanced when carried out in a medical facility, guided by appropriate indications and skillful execution. An interesting observation in our study is that in areas where the hair had turned grey, the newly regrown hair does not retain its original grey color; instead, it becomes darker. The results contribute to evidence-based decision-making in dermatological practice and offer different insights into the treatment of female pattern hair loss.

Keywords: androgenic alopecia, female hair loss, mesotherapy, topical 2% minoxidil

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Authors: Ibrahim Shinbira

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In urban design, much has been discussed on the significance of the physical qualities in creating the place identity; however, the role of walkability as a physical quality that can evokes people's perception of place identity has not been adequately explored. This paper is based on the part findings of a doctoral research examining place identity in the city centre of Misurata, Libya. A number of 176 questionnaire and 23 face-to-face interviews were conducted with residents of the city to investigate physical qualities of place identity that evoked resident's perception. The finding demonstrates that walkability within the city centre is strong and it influences the users’ perception on the place identity. These were regarded as very important in sustaining the socio-cultural values, enjoyment, options, vitality and comfort. The paper concludes by establishing that walkability has a substantial contribution to the place identity, therefore should be considered in the design of urban places specifically the redevelopment one.

Keywords: perception, walkability, physical environment, place identity, residents

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Authors: Mikel Alonso López, María Francisca Blasco López, Víctor Molero Ayala

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The present study explains the somatic marker theory of Antonio Damasio, which indicates that when making a decision, the stored or possible future scenarios (future memory) images allow people to feel for a moment what would happen when they make a choice, and how this is emotionally marked. This process can be conscious or unconscious. The development of new Neuromarketing techniques such as functional magnetic resonance imaging (fMRI), carries a greater understanding of how the brain functions and consumer behavior. In the results observed in different studies using fMRI, the evidence suggests that the somatic marker and future memories influence the decision-making process, adding a positive or negative emotional component to the options. This would mean that all decisions would involve a present emotional component, with a rational cost-benefit analysis that can be performed later.

Keywords: emotions, decision making, somatic marker, consumer´s brain

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Authors: Bakr Ali Al-Gamrh, Ku Nor Izah B. Ku Ismail

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We investigate the relationship between corporate governance, leverage, risk, and firm performance. We use a firm level panel that spans the period 2008 to 2012 of all listed firms on Abu Dhabi Stock Exchange and Dubai Financial Market. After constructing an index of corporate governance strength, we find a negative effect of corporate governance on firm performance. We, however, discover that corporate governance strength indirectly improves the negative influence of leverage on firm performance in normal times. On the contrary, the results completely reversed when there is a black swan event. Corporate governance strength plays a significantly negative role in moderating the relationship between leverage and firm performance during the financial crisis. We also reveal that corporate governance strength increases firms’ risk and deteriorates performance during crisis. Results provide evidence that corporate governance indirectly plays a completely different role in different time periods.

Keywords: corporate governance, firm performance, risk, leverage, the UAE

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Authors: Laura V. Gonzalez, Juan B. Duarte, Luis A. Palacio

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Decision making can be conditioned by factors such as the environments, circumstances, behavioral biases, emotions, beliefs and preferences of the participants. The objective of this paper is to analyze the effect ‘amount of information’ and ‘number of options’, on the behavior of competitors under a bilateral negotiation context. For the above, it has been designed an experiment as a classroom game where they negotiate goods, under the condition that none of the players knows exactly the real value of the asset. The game is designed under the concept of zero-sum (non-cooperative game) and focuses on the fact that agents must anticipate the strategies of their opponent to improve their chances of winning in the negotiation. The empirical results show that, contrary to the traditional view of expected utility theory, players prefer to obtain low profits and losses, when faced with a higher expectation of losses, using sub-optimal strategies not in accordance with game theory.

Keywords: bilateral negotiation, classroom game, decision making, game theory

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Authors: W. J. Stępniowski, W. Florkiewicz, M. Norek, M. Michalska-Domańska, E. Kościuczyk, T. Czujko

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In this paper, two options of anodic alumina barrier layer thinning have been demonstrated. The approaches varied with the duration of the voltage step. It was found that too long step of the barrier layer thinning process leads to chemical etching of the nanopores on their top. At the bottoms pores are not fully opened what is disadvantageous for further applications in nanofabrication. On the other hand, while the duration of the voltage step is controlled by the current density (value of the current density cannot exceed 75% of the value recorded during previous voltage step) the pores are fully opened. However, pores at the bottom obtained with this procedure have smaller diameter, nevertheless this procedure provides electric contact between the bare aluminum (substrate) and electrolyte, what is suitable for template assisted electrodeposition, one of the most cost-efficient synthesis method in nanotechnology.

Keywords: anodic aluminum oxide, anodization, barrier layer thinning, nanopores

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Authors: Seyed Sajjad Habibi

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The aim of this study is to investigate the impact of global financial crises and corporate financial crisis on tax evasion of companies listed on the Tehran Stock Exchange. For this purpose, panel data in the periods of financial crisis period (2007 to 2012) and without a financial crisis (2004, 2005, 2006, 2013, 2014, and 2015) was analyzed using multivariate linear regression. The results indicate a significant relationship between the corporate financial crisis (bankruptcy risk) and tax evasion in the global financial crisis period. The results also showed a significant relationship between the corporate bankruptcy risk and tax evasion in the period with no global financial crisis. A significant difference was found between the bankruptcy risk and tax evasion in the period of the global financial crisis and that with no financial crisis so that tax evasion increased in the financial crisis period.

Keywords: global financial crisis, corporate financial crisis, bankruptcy risk, tax evasion risk, emerging markets

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Authors: Lien-Fa Lin, Yung-Ming Li, Fu-Shun Hsieh

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With the advancement of information technology and development of group commerce, people have obviously changed in their lifestyle. However, group commerce faces some challenging problems. The products or services provided by vendors do not satisfactorily reflect customers’ opinions, so that the sale and revenue of group commerce gradually become lower. On the other hand, the process for a formed customer group to reach group-purchasing consensus is time-consuming and the final decision is not the best choice for each group members. In this paper, we design a social decision support mechanism, by using group discussion message to recommend suitable options for group members and we consider social influence and personal preference to generate option ranking list. The proposed mechanism can enhance the group purchasing decision making efficiently and effectively and venders can provide group products or services according to the group option ranking list.

Keywords: social network, group decision, text mining, group commerce

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Authors: Ching-Hsu Huang, Shang-Huan Wu

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In recent years, environmental awareness has increased, environmental issues caused by meat-eating have been extended to promote reducing food surplus and waste advocates. We lose more than 3 million tons of food on average on a daily basis. Private households represent the largest food-waste faction. The main purpose of this study is to design and develop household dishes by using edible food surplus. The questionnaires were conducted to find the majority of food surplus from households, including carrot peel, pumpkin, fish skin, and soy dregs—this study designed and developed the household dishes by using the leftovers. We briefly discuss the contributions of the dishes. Mapping the household dishes deepens the promotion of household food waste prevention strategies. This study also linked the results with a set of policy, education, and restaurant business options

Keywords: food waste, food surplus, household dishes design, food waste prevention strategies

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Authors: Rohita Gupta, G. S. Brah, R. Verma, C. S. Mukhopadhayay

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Although chicken strains show differences in susceptibility to a number of diseases, the underlying immunological basis is yet to be elucidated. In the present study, heterophils were subjected to LPS stimulation and total RNA extraction, further differential gene expression was studied in broiler, layer and indigenous Aseel strain by Real Time RT-PCR at different time periods before and after induction. The expression of the 14 AvBDs and chTLR 1, 2, 3, 4, 5, 7, 15 and 21 was detectable in heterophils. The expression level of most of the AvBDs significantly increased (P<0.05) 3 hours post in vitro lipopolysaccharide challenge. Higher expression level and stronger activation of most AvBDs, NFkB-1 and IRF-3 in heterophils was observed with the stimulation of LPS in layer compared to broiler, and in Aseel compared to both layer and broiler. This investigation will allow more refined interpretation of immuno-genetic basis of the variable disease resistance/susceptibility in divergent stock of chicken including indigenous breed. Moreover, this study will be helpful in formulation of strategy for isolation of antimicrobial peptides from heterophils.

Keywords: differential expression, heterophils, cytokines, defensin, TLR

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Authors: Manoel Pereira, Alvaro Veiga, Camila Epprecht, Renato Costa

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This paper introduces an empirical version of the Esscher transform for risk-neutral option pricing. Traditional parametric methods require the formulation of an explicit risk-neutral model and are operational only for a few probability distributions for the returns of the underlying. In our proposal, we make only mild assumptions on the pricing kernel and there is no need for the formulation of the risk-neutral model for the returns. First, we simulate sample paths for the returns under the physical distribution. Then, based on the empirical Esscher transform, the sample is reweighted, giving rise to a risk-neutralized sample from which derivative prices can be obtained by a weighted sum of the options pay-offs in each path. We compare our proposal with some traditional parametric pricing methods in four experiments with artificial and real data.

Keywords: esscher transform, generalized autoregressive Conditional Heteroscedastic (GARCH), nonparametric option pricing

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Authors: Mehdi Moeinaddini, Zohreh Asadi-Shekari, Muhammad Zaly Shah, Amran Hamzah

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Currently, planners try to have more green travel options to decrease economic, social and environmental problems. Therefore, this study tries to find significant urban travel factors to be used to increase the usage of alternative urban travel modes. This paper attempts to identify the relationship between prominent urban mobility indicators and daily trips by public transport in 30 cities from various parts of the world. Different travel modes, infrastructures and cost indicators were evaluated in this research as mobility indicators. The results of multi-linear regression analysis indicate that there is a significant relationship between mobility indicators and the daily usage of public transport.

Keywords: green travel modes, urban travel indicators, daily trips by public transport, multi-linear regression analysis

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Authors: Patrick Velte

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Sustainability reporting has become a central element of modern corporate governance practice. This paper is the first to recognize supervisory board independence, sustainable expertise and gender diversity in two European two tier countries and their impact on sustainability reporting quality. For a sample of 188 German and Austrian companies which are listed at the Prime Standard of the Frankfurt and Vienna Stock Exchange for the business years 2012-2013, descriptive findings show that CSR reporting quality is still low in both countries. Furthermore, multiple regressions state that independent and female members in the supervisory board do have a positive impact on CSR reporting quality in Germany and Austria. However, the existence of sustainable experts in the supervisory board both in Germany and Austria shows a positive but insignificant impact. Our findings suggest that the current European corporate governance regulations can be a useful instrument to increase the quality of modern CSR reporting for the stakeholders.

Keywords: sustainability reporting, corporate governance, gender diversity, board independence

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Authors: Feddaoui Amina

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Income smoothing represents an attempt on the part of the company's management to reduce variations in earnings through the manipulation of the accounting principles. In this study, we aimed to measure income smoothing practices in a sample of 30 French joint stock companies during the period (2007-2009), we used Dummy variables method and “ECKEL” model to measure income smoothing practices and Binomial test accourding to SPSS program, to confirm or refute our hypothesis. This study concluded that there are no significant statistical indicators of income smoothing practices in the sample studied of French companies during the period (2007-2009), so the income series in the same sample studied of is characterized by stability and non-volatility without any intervention of management through accounting manipulation. However, this type of accounting manipulation should be taken into account and efforts should be made by control bodies to apply Eckel model and generalize its use at the global level.

Keywords: income, smoothing, 'Eckel', French companies

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Authors: Elvin Karaaslan Klose

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Museums are important sites of informal, often semi-structured and self-paced learning. Challenged by digital alternatives and increased expectations from their visitors, museums have to adapt to the digital age by enriching their collection and educational content with additional options for interactivity. One such option lies in the concept of the electronic book, which can be used either on dedicated devices or downloaded by visitors before entering the exhibition area. These electronic books serve as an alternative or supplement to the classic audio guide and provide visitors with information about artifacts as well as background stories and factoids about the subjects of the exhibition. Bringing such interactive elements into the museum experience has been shown to increase information retention and enjoyment among young aged visitors and adults. This article aims to bring together both theoretical frameworks and practical examples of how interactive media in the form of electronic books can be used to enhance the experience of the museum visitor.

Keywords: electronic books, interactive media, arts education, museum education

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Authors: Malaw Ndiaye, Karim Konate

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Smart contracts are computer protocols that facilitate, verify, and execute the negotiation or execution of a contract, or that render a contractual term unnecessary. Blockchain and smart contracts can be used to facilitate almost any financial transaction. Thanks to these smart contracts, the settlement of dividends and coupons could be automated. Smart contracts have become lucrative and profitable targets for attackers because they can hold a great amount of money. Smart contracts, although widely used in blockchain technology, are far from perfect due to security concerns. Since there are recent studies on smart contract security, none of them systematically study the strengths and weaknesses of smart contract security. Some have focused on an analysis of program-related vulnerabilities by providing a taxonomy of vulnerabilities. Other studies are responsible for listing the series of attacks linked to smart contracts. Although a series of attacks are listed, there is a lack of discussions and proposals on improving security. This survey takes stock of smart contract security from a more comprehensive perspective by correlating the level of vulnerability and systematic review of security levels in smart contracts.

Keywords: blockchain, Bitcoin, smart contract, criminal smart contract, security

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Authors: Mona M. Salem, Khaled S. Al-Hagla, Hany M. Ayad

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The concept of urban metabolism has increasingly been employed in a diverse range of disciplines as a mean to analyze and theorize the city. Urban ecology has a particular focus on the implications of applying the metabolism concept to the urban realm. This approach has been developed by a few researchers, though it has rarely if ever been used in policy development for city planning. The aim of this research is to use ecologically informed urban planning interventions to increase the sustainability of urban metabolism; with special focus on land stock as a most important city resource by developing a system dynamic based DSS. This model identifies two critical management strategy variables for the Strategic Urban Plan Alexandria SUP 2032. As a result, this comprehensive and precise quantitative approach is needed to monitor, measure, evaluate and observe dynamic urban changes working as a decision support system (DSS) for policy making.

Keywords: ecology, land resource, LULCC, management, metabolism, model, scenarios, system dynamics, urban development

Procedia PDF Downloads 357