Search results for: financial history

Authors: Ghaleb Y. Abbasi, Israa Abu Rumman

Abstract:

This paper modeled sales history archived from 2012 to 2015 bulked in monthly bins for five products for a medical supply company in Jordan. The sales forecasts and extracted consistent patterns in the sales demand history from the Enterprise Resource Planning (ERP) system were used to predict future forecasting and generate sales demand forecasting using time series analysis statistical technique called Auto Regressive Integrated Moving Average (ARIMA). This was used to model and estimate realistic sales demand patterns and predict future forecasting to decide the best models for five products. Analysis revealed that the current replenishment system indicated inventory overstocking.

Keywords: ARIMA models, sales demand forecasting, time series, R code

Procedia PDF Downloads 385

Authors: Tran Hung Tra, Hao Dinh Duong, Masakazu Okazaki

Abstract:

Copper 1100 and aluminum 1050 plates with a thickness of 5.0 mm are butt-joint using friction stir welding. The tool offset is linearly varied along the welding path. Two welding regimes, using the same linear tool offset but in opposite directions, are applied for fabricating two Cu/Al plates. The material flow is dominated by both tool offset and offset history. The intermetallic compounds layer and interface morphology in each welded plate are formed in a different manner. As a result, the bonding strength and fracture behavior between two welded plates are significantly distinct. The role of interface morphology on fracture behavior is analyzed by the finite element method.

Keywords: Cu/Al dissimilar welding, offset history, interface morphology, intermetallic compounds, strength and fracture

Procedia PDF Downloads 76

Authors: Paul Flynn, Luke O’Donnell

Abstract:

There is a pressing societal need for educators in formal and non-formal settings to develop pedagogical frameworks, programmes, and interventions that support the development of transversal skills for life beyond the classroom. These skills include communication, collaboration, interpersonal relationship building, problem-solving, and planning, and organizational skills; or lifeworld literacies encountered first hand. This is particularly true for young people aged between 15-18. This demographic represents both the future of society and those best positioned to take advantage of well-designed, structured educational supports within and across formal and non-formal settings. Secondary school history has been identified as an appropriate area of study which deftly develops many of those transversal skills so crucial to positive societal engagement. However, in the formal context, students often challenge history’s relevance to their own lived experience and dismiss it as a study option. In response to such challenges, teachers will often design stimulating lessons which are often well-received. That said, some students continue to question modern-day connections, presenting a persistent and pervasive classroom distraction. The continuing decline in numbers opting to study second-level history indicates an erosion of what should be a critical opportunity to develop all-important lifeworld literacies within formal education. In contrast, students readily acknowledge relevance in non-formal settings where many participants meaningfully engage with history by way of student-focused activities. Furthermore, many do so without predesigned pedagogical aids which support transversal skills development as embodied learning outcomes. As this paper will present, there is a dearth of work pertaining to the circular subject of history and its embodied learning outcomes, including lifeworld literacies, in formal and non-formal settings. While frequently challenging to reconcile formal (often defined by strict curricula and examination processes), and non-formal engagement with history, opportunities do exist. In the Irish context, this is exemplified by a popular university outreach programme: breaking the SEAL. This programme supports second-level history students as they fulfill curriculum requirements in completing a research study report. This report is a student-led research project pulling on communication skills, collaboration with peers and teachers, interpersonal relationships, problem-solving, and planning and organizational skills. Completion of this process has been widely recognized as excellent preparation not only for higher education (third level) but work-life demands as well. Within a formal education setting, the RSR harnesses non-formal learning virtues and exposes students to limited aspects of independent learning that relate to a professional work setting –a lifeworld literacy. Breaking the SEAL provides opportunities for students to enhance their lifeworld literacy by engaging in an independent research and learning process within the protective security of the classroom and its teacher. This paper will highlight the critical role this programme plays in preparing participating students (n=315) for life after compulsory education and presents examples of how lifeworld literacies may be developed through a scaffolded process of historical research and reporting anchored in non-formal contexts.

Keywords: history, education, literacy, transversal skills

Procedia PDF Downloads 168

Authors: Muhammed-Badar Salihu Jibrin, Chibabi Makedono Darlington

Abstract:

This paper studied Ideational Grammatical Metaphor (IGM) of Narrative History in Chinua Achebe’s There Was a Country. It started with a narrative historical style as a recent genre out of the conventional historical writings. In order to explore the linguistic phenomenon using a particular lexico-grammatical tool of IGM, the theoretical background was examined based on Hallidayan Systemic Functional Linguistics. Furthermore, the study considered the possibility of applying IGM to the Part 4 of Achebe’s historical text with recourse to the concept of congruence in IGM and research questions before formulating a working methodology. The analysis of Achebe’s memoir was, thus, presented in tabular forms to account for the quantitative content analysis with qualitative research technique, as well as the metaphorical and congruent wording through nominalization and process types with samples. The frequencies and percentage were given appropriately with respect to each subheadings of the text. To this end, the findings showed that material and relational types indicated dominance. The discussion and implications were that the findings confirmed earlier study by MAK Halliday and C.I.M.I.M. Matthiessen’s suggestion that IGM should show dominance of material type process. The implication is that IGM can be an effective tool for the analysis of a narrative historical text. In conclusion, it was observed that IGM does not only carry grammatical function but also an ideological role in shaping the historical discourse within the narrative mode between writers and readers.

Keywords: ideational grammatical metaphor, nominalization, narrative history, memoire, dominance

Procedia PDF Downloads 220

Authors: Yusuf Abdullahi

Abstract:

The contribution of entrepreneurship in the economic development cannot be over-emphasized neither it should be underestimated for any reason as this is already a known fact that it plays an important role as a change agent and as a prime mover of economy. In developed or underdeveloped economy, the essence of entrepreneurship is highly significant as this exist in both private as well as public sectors of any economy. The roles of entrepreneurship are worldly acclaimed but yet as laudable as these roles there can be no significant success by any entrepreneur except with availability of finance. Nonetheless, mere availability of finance also cannot guarantee the success of an enterprise but there must be in place appropriate financial strategies for the funding/investment needs of an enterprise. Thus, little has been said when it comes to strategies needed to access various sources of finance. This paper, therefore, establishes appropriate strategies to obtain funds sources of finance by both small and as well as medium enterprises.

Keywords: entrepreneurship, Nigeria, financial strategies, economic development

Procedia PDF Downloads 482

Authors: Victoria Adikpe

Abstract:

The ills of the Nigerian public sector have been identified at various fora to include lack of financial accountability and poor reporting of government performance. With the enthronement of democracy, citizens’ expectations from the government are drifting from the mere provision of public services to efficiency and accountability. One of the major challenges to achieving accountability in Nigeria is the capability of the cash basis of accounting to meet the reporting requirements of policies and programmes of the government. This paper discussed the growing trend in the debate about the adoption of private sector financial management processes in the public sector as part of the public sector reform programmes. The paper does not claim the ultimate superiority of accrual over cash accounting but shows how it will help to further strengthen the quality of government accounting and reporting.

Keywords: cash accounting, accrual accounting, accountability, reporting

Procedia PDF Downloads 344

Authors: Yasemin Gülşen Yılmaz, Süleyman Hakan Yılmaz, Muhammet Erbay

Abstract:

Military interventions have an important place in the Turkish Political History. Military interventions are commonly called coup in the society. By coup we mean that the armed forces seize political power either by a group of officer in the army or by chain of command. Coups not only weaken but also suspend the democracy in a country. All periods of coup created its own victims. Two military coups which took place in May 27, 1960 and September 12, 1980 are the most important ones in terms of political and social effect in the Turkish Political History. Apart these, March 12, 1971, February 28, 1997 and April 27, 2007 e-memorandum are the periods when Army submitted a memorandum and intervened the political government indirectly. Beside the memorandums and coups there were also many coup attempts that have been experienced in the Turkish Political History. In this study, we examined the coup attempted by FETO’s military members in the evening of July 15, 2016 from the point of the Turkish Press. Cumhuriyet, Haber Türk, Hürriyet, Milliyet, Sabah, Star, Yeni Akit and Yeni Şafak Newspapers which have different publication policies were examined within the scope of the study. The first pages of the newspapers dated July 16, 2016 were examined using content analysis method. The headlines, news, news headlines and the visual materials used for news were examined and the collected data were analysed.

Keywords: July 15, news, military coup, press

Procedia PDF Downloads 261

Authors: Flora Babongo, Valerie Chavez

Abstract:

Inferring causality from observational data is one of the fundamental subjects, especially in quantitative finance. So far most of the papers analyze additive noise models with either linearity, nonlinearity or Gaussian noise. We fill in the gap by providing a nonlinear and non-gaussian causal multiplicative noise model that aims to distinguish the cause from the effect using a two steps method based on Bayesian additive models for location, scale and shape (BAMLSS) and on causal additive models (CAM). We have tested our method on simulated and real data and we reached an accuracy of 0.86 on average. As real data, we considered the causality between financial indices such as S&P 500, Nasdaq, CAC 40 and Nikkei, and companies' log-returns. Our results can be useful in inferring causality when the data is heteroskedastic or non-injective.

Keywords: causal inference, DAGs, BAMLSS, financial index

Procedia PDF Downloads 151

Authors: Sophie Whittle

Abstract:

Prior to present day, English syntax historically exhibited an inconsistent verb-second (V2) rule, which saw the verb move to the second position in the sentence following the fronting of a type of phrase. There was a high amount of variation throughout the history of English with regard to the ordering of subject and verb, and many explanations attempting to account for this variation have been documented in previous literature. However, these attempts have been contradictory, with many accounts positing the effect of previous syntactic changes as the main motivations behind the decline of V2. For instance, morphosyntactic changes, such as the loss of clitics and the loss of empty expletives, have been loosely connected to changes in frequency for the loss of V2. The questions surrounding the development of non-V2 in English have, therefore, yet to be answered. The current paper aims to bring together a number of explanations from different linguistic fields to determine the factors driving the changes in English V2. Using historical corpus-based methods, the study analyses both quantitatively and qualitatively the changes in frequency for the history of V2 in the Old, Middle, and Modern English periods to account for the variation in a range of sentential environments. These methods delve into the study of information structure, prosody and language contact to explain variation within different contexts. The analysis concludes that these factors, in addition to changes within the syntax, are responsible for the position of verb movement. The loss of V2 serves as an exemplar study within the field of historical linguistics, which combines a number of factors in explaining language change in general.

Keywords: corpora, English, language change, mixed-methods, syntax, verb-second

Procedia PDF Downloads 134

Authors: Arta Jashari, Enver Kutllovci

Abstract:

Abstract— The purpose of this study is to examine the relationship of recruitment and selection practice and performance in medium service enterprises in Kosovo. A total of 110 managers from public and private sector was analyzed. Our empirical results show that enterprises in Kosovo use recruitment and selection practice and they know how important is to have the right people with skills and knowledge accordingly with the job requirements. The outcome of Pearson correlation analysis provides evidence that recruitment and selection practice, positively and significantly influence the financial performance. Also, our results show a significant relationship between the education of managers and the use of the recruitment and selection practice. From our results we can conclude and suggest that with a good recruiting and selection, the organization will fill with a group of potentially qualified candidates who will be able to fulfill the enterprises objective.

Keywords: Human Resource, Kosovo, Recruitment and Selection, Performance

Procedia PDF Downloads 165

Authors: Semra Turkan

Abstract:

In this paper, we have examined the factors that affect the productivity of Turkey’s Top 500 Industrial Enterprises in 2014. The labor productivity of enterprises is taken as an indicator of productivity of industrial enterprises. When the relationships between some financial ratios and labor productivity, it is seen that there is a nonparametric relationship between labor productivity and return on sales. In addition, the distribution of labor productivity of enterprises is right-skewed. If the dependent distribution is skewed, the quantile regression is more suitable for this data. Hence, the nonparametric relationship between labor productivity and return on sales by quantile smoothing splines.

Keywords: quantile regression, smoothing spline, labor productivity, financial ratios

Procedia PDF Downloads 302

Authors: Petra F. A. Dilling, Sinan Caykoylu

Abstract:

The aim of this study was to shed light on the understanding of the factors determining a company’s disclosure on climate change reporting. The underlying study examines the effect of gender diversity and the mediating effect of female representation in management and on the board of directors and the existence of a dedicated sustainability board committee. To test the study’s objectives, the authors use a global sample of the largest companies and their reporting for the year 2020. The results suggest that corporate female participation has a significant influence on the quality of climate change reporting. In addition, having a dedicated sustainability board committee also significantly impacts the non-financial disclosure of climate change information.

Keywords: climate change, non-financial reporting, governance, board diversity, sustainability, CSR

Procedia PDF Downloads 119

Authors: Edmund Kwablah, Anthony Amoah

Abstract:

The merits associated with Foreign Direct Investment (FDI) inflows to host countries in Sub-Saharan Africa cannot be overemphasized. Against this background, countries have sought to design and implement strategic policies geared towards enhacing FDI and promoting economic growth. In this study, we used the Fully Modified Ordinary Least Squares technique and a panel data for Sub-Saharan African (SSA) countries spanning from 1998 to 2016. We hypothesize that FDI’s effect on economic growth is contingent on some absorptive capacities (e.g., financial market development and economic freedom) of the host country. We used financial market data that accounts for market fragility as a measure of financial market development and economic freedom data which uses the overall score of all the freedom indicators as a measure of economic freedom. Our results suggest that FDI has a statistically positive effect on economic growth when we account for host country’s absorptive capacities. However, a negative relationship will ensue if these absorptive capacities are not accounted for. We recommend that a developing continent like SSA should focus on identifying and building the relevant absorptive capacities that can translate the effect of FDI into a positive growth. This is because an economy with sound absorptive capacities reduces business risk and spur economic growth.

Keywords: FDI, absorptive capacity, economic growth, FMOLS, Fully Modified Ordinary Least Squares, SSA

Procedia PDF Downloads 184

Authors: Mohammad Mirzaei

Abstract:

The term "modernism" is at the heart of debates about 20th-century literature and critical theory. Astradur Eysteinsson argues here that the notion of modernity does not emerge directly from the literature it encompasses but is actually a product of critical practices related to non-traditional literature. By intervening in and relating them to modernist works and contemporary literary theories, Esteinsson takes a comprehensive look at the idea of modernity. Eysteinsson critically examines various expressions of modernism in the rich spectrum of American, British, and European literature, criticism, and theory. He first explored a number of modernist paradigms and found a conflict between modernism's potential for cultural subversion and its relatively conservative status as a formalist project. In turn, he sees these paradigms as interpretations and inventions of literary history. Seen in this way, modernism presents both a historical change in the literary scene and the context of this change. Imbued with the connotations of tradition and modernity, modernity fulfills its primary function. Highlights and defines the complex relationship between history and post-realist literature. Eysteinsson focuses on how concepts of modernism guide our understanding of literature and literary history and how they influence the evaluation of experimental and 3post realist works in literature and art. He discusses in detail the relationship between modernism and the key terms postmodernism, avant-garde, and realism. In staging a crisis of subject and reference, modernity is not a form of discourse but its subversion, the "other" that may reveal important aspects of our social and linguistic experience in Western culture.

Keywords: literature, modernism, western cultures, postmodernism

Procedia PDF Downloads 67

Authors: Suraini Mohd Rhouse, Noor Lela Ahmad, Nek Kamal Yeop Yunus, Rosfizah Md Taib

Abstract:

This article aims to explore the importance of trust to women entrepreneurs. In particular, the research uses a social constructionist lens to examine ways in which women entrepreneurs construct trust in relation to their various stakeholders. A semi-structured interview was used to gather the data. The findings suggest women highlight the importance of trust in order to establish customer satisfaction that can further develop customer loyalty. In addition, aspect of trust with the employees is seen as vital for building organizational commitment to the business organization. Women also see the trust dimension in terms of their relationships with financial providers in order to gain approval for financial resources. This article contributes to the literature on the value of trust to women’s business environments.

Keywords: qualitative, social constructionist, trust, women entrepreneurship

Procedia PDF Downloads 560

Authors: Chuang-Chang Chang, Keng-Yu Ho, Yu-Jen Hsiao, Hsin-Ni Yang

Abstract:

Using a sample of detailed ownership data of 1,032 listed commercial bank observations in 30 European countries from 2004 to 2010, we explore what categories of shareholder are more likely to use derivatives and how different types of owners affect the bank value. We find that a shift in equity from bank investors to either non-financial companies or institutional investors have increase incentives to use derivatives. Moreover, we have significant evidence that a shift in equity from bank investors to either family or manager shareholders who attend derivative activities will decrease bank value. However, a shift in equity from bank investors to non-financial companies who use derivative instrument will increase the bank value. Our results are also robustness to address for the potential endogeneity problems.

Keywords: derivative usage, ownership structure, bank value

Procedia PDF Downloads 348

Authors: Mengyu Lu, Yongsheng Guo

Abstract:

This study investigates how employee incentives affect employee performance in financing from customers. This study followed a grounded theory approach where data were collected through 29 interviews. Main themes and categories were identified through the coding processes. This study found that casual conditions, including financial barriers, informal finance, business location, customer base and customer relationship, influenced the adoption of customer finance in the case of SMEs. The SMEs build and maintain long-term relationships with customers through personal communications. The SMEs engage and motivate employees in customer communications and business financing strategy through financial incentives programs, including bonuses, salary rises, rewards and non-financial incentives, including training opportunities, extra holiday leave, and flexible working hours. Employee performance was measured through financing contribution and job contribution. As a consequence, customers will be well served by employees and get a better customer experience. SMEs can get benefits such as employee engagement, employee satisfaction and sustainable financing sources. This study gets in sight of employee incentives in improving employee performance in customer finance and makes implications to human capital theories. Suggestions are provided to the decision-makers in businesses as incentive programs improve employee performance that, eventually contributes to overall business performance.

Keywords: SMEs, financing from customers, employee incentives, performance-based measurement

Procedia PDF Downloads 56

Authors: Patrick M. Stanton, William R. McCumber

Abstract:

Using a large dataset of more than 2,400 individual microfinance institutions (MFIs) from 120 countries from 1999 to 2016, this study finds that nearly half of the international MFIs operate as for-profit institutions. Formal institutions (business regulatory environment, property rights, social protection, and a developed financial sector) impact the likelihood of MFIs being for-profit across countries. Cultural differences across countries (power distance, individualism, masculinity, and indulgence) seem to be a factor in the legal status of the MFI (non-profit or for-profit). MFIs in countries with stronger formal institutions, a greater degree of power distance, and a higher degree of collectivism experience better financial and social performance.

Keywords: Hofstede cultural dimensions, international finance, microfinance institutions, non-profite

Procedia PDF Downloads 273

Authors: James A. Bryant Jr

Abstract:

This article examines the far-reaching consequences of the mainstreaming of the Christian Dominionist philosophy on public schools all across the United States of America. Under the guise of “school choice,” and the ever-growing influence and legacy of its most vocal proponent, R.J. Rushdoony, the American right has declared an all-out war on public education, public schools, and the men and women who staff these institutions. For the purposes of this paper, the term “school choice” encompasses both the efforts to use public money to support private, religious education as well as the move to dramatically expand the number of children and youth who are home schooled. This article examines both the history and dangers of the homeschool movement and the vouchers-for-religious school's scheme, with particular attention to the philosophy and words of its most renowned advocate, the missionary Rousas John Rushdoony.

Keywords: history education, multicultural education, public education, Christian Dominionism

Procedia PDF Downloads 63

Authors: Romuald Temomo Wamba, Robert Wanda

Abstract:

The issue of creative accounting in the psychological and sociological framework has been a mixed subject for over 60 years. The objective of this article is to ensure the existence of creative accounting in Cameroonian entities on the one hand and to understand the strategies used by audit agents to detect errors, omissions, irregularities, or inadequacies in the financial state; optimization techniques used by account preparers to strategically bypass texts on the other hand. To achieve this, we conducted an exploratory study using a cognitive approach, and the data analysis was performed by the software 'decision explorer'. The results obtained challenge the authors' cognition (manifest latent and deceptive behavior). The tax inspectors stress that the entities in Cameroon do not derogate from the rules of piloting in the financial statements. Likewise, they claim a change in current income and net income through depreciation, provisions, inventories, and the spreading of charges over long periods. This suggests the suspicion or intention of manipulating the financial statements. As for the techniques, the account preparers manage the accruals at the end of the year as the basis of the practice of creative accounting. Likewise, management accounts are more favorable to results management.

Keywords: creative accounting, sociocognitive approach, psychological and sociological approach, cognitive dissonance theory, cognitive mapping

Procedia PDF Downloads 193

Authors: Alexander Cramer, Kenneth Cramer

Abstract:

Since the inauguration of President George Washington in 1789, the United States of America has seen the governance of some 44 individual presidents. Although such presidents share a variety of attributes, they still differ from one another on many others. Significantly, these traits may be used to construct distinct sets of 'families' of presidents throughout American history. By comparatively analyzing data from experts on the U.S. presidency – in this case, the C-SPAN Presidential Historians Surveys from 2000, 2009, and 2017 – this article identifies a consistent set of six presidential families: the All Stars; the Conservative Visionaries; the Postwar Progressives; the Average Joes; the Forgettables; and the Regrettables. In situating these categories in history, this article argues that U.S. presidents can be accurately organized into cohesive, like-performing families whose constituents share a common set of criteria.

Keywords: C-SPAN, POTUS presidential performance, presidential ranking, presidential studies, presidential surveys, United States

Procedia PDF Downloads 195

Authors: Muhammad Ali Khan

Abstract:

Although most Muslims are aware that Riba is a great sin in Islamic Shariah, they still do not find themselves inclined toward Islamic banking for their financial needs/activities/requirements. The main purpose of this research work is to analyse the general trend of people's views and miss conceptions among them regarding Islamic Banking and therefore suggest promoting Islamic banking. Scholars believe that Islamic finance is more stable than conventional banking because of the nature of its banking practices, which are based on real assets or partnerships. This is why Islamic banking is growing fastly worldwide, particularly in the wake of global financial crisis. Even though the scope of Islamic banking is expanding on a daily basis yet, it is not gaining the popularity it deserves. Islam declares war against Allah and his last messenger Hazrat Muhammad (PBUM) as it is a great sin and strictly forbids all interest-based transactions. Holy Quran revealed, O you who believe, do not eat up the amounts acquired through Riba (interest), doubled and multiplied. Fear Allah, so that you may be successful. Therefore a, true Muslim who believe in Judgement day always make all efforts in their life to avoid gambling and other speculative activities like Riba for themselves and their loved ones. If a Muslim does not fight against Riba to protect himself and his family, then his faith is meaningless. Allah issues warnings at numerous places in the holy Quran regarding Riba and its sin. Thus, Islamic banking is an alternative banking system where banking transactions are based on Islamic principles. The major component of Islamic Banking is Profit and loss sharing (PLS), as well as ensuring economic justice and equity.

Keywords: Islamic banking, Riba, interest, financial crises

Procedia PDF Downloads 63

Authors: Raied Khayou

Abstract:

The Hawza Al-'Ilmiyya is a network of religious seminaries in the Shia branch of Islam. This research mainly focuses on the oldest school located in Najaf, Iraq, because its core curriculum and main characteristics have been unchanged since the fourth century of Islam. Relying on a thorough literature review of Arabic and English publications, and interviews with current and previous students of the seminary, the current research outlines the factors proving how this seminary was crucial in keeping the Shia religious identity intact despite sometimes gruesome attempts of interference and persecution. There are several factors that helped the seminary to preserve its central importance. First, rooted in their theology, Shia Muslims believe that the Hawza Al-’Ilmiyya and its graduates carry a sacred authority. Secondly, the financial independence of the Seminary helped to keep it intact from any governmental or political meddling. Third, its unique teaching method, its matchless openness for new students, and its flexible curriculum made it attractive for many students who were interested in learning more about Shia theology and jurisprudence. The Hawza Al-‘Ilmiyya has the exclusive right to train clerics who hold the religious authority of Shia Islamic jurisprudence, and the seminary’s success in staying independent throughout history kept Shia Islamic theology independent, as well.

Keywords: Hawza Al'Ilmiyya, religious seminary, Shia Muslim education, Islamic jurisprudence

Procedia PDF Downloads 101

Authors: Jason Chen, Jennifer Chen, Shiyu Li

Abstract:

We examine whether managerial ability (MA), the passing of Sarbanes-Oxley in 2002 (SOX), and corporate operational complexity affect the accuracy of environmental capital expenditure projections of the environmentally sensitive industries (ESI). Prior studies found that firms in the ESI manipulated their projected environmental capital expenditures as a tool to achieve corporate legitimation and suggested that human factors must be examined to determine whether they are part of the determinants. We use MA to proxy for the latent human factors to examine whether MA affects the accuracy of financial disclosures in the ESI. To expand Chen and Chen (2020), we further investigate whether (1) SOX and (2) firms with complex operations and financial reporting in conjunction with MA affect firms’ projection accuracy. We find, overall, that MA is positively correlated with firm’s projection accuracy in the annual 10-Ks. Furthermore, results suggest that SOX has a positive, yet temporary, effect on MA, and that leads to better accuracy. Finally, MA matters for firms with more complex operations and financial reporting to make less projection errors than their less-complex counterparts. These results suggest that MA is a determinant that affects the accuracy of environmental capital expenditure projections for the firms in the ESI.

Keywords: managerial ability, environmentally sensitive industries, sox, corporate operational complexity

Procedia PDF Downloads 145

Authors: Ahuva Even-Zohar

Abstract:

Context: Families living in poverty often struggle with poor financial management and accumulating debts. Social workers play a crucial role in assisting these families, but they typically receive no formal training in financial management. Research Aim: The aim of this study was to assess the impact of a voluntary organization called Paamonim on social work students' attitudes toward providing material support and assistance in financial management to families living in poverty. Additionally, the study aimed to evaluate the students' perception of the workshop's contribution and their actual use of the tools acquired during the training. Methodology: The study involved 134 social work students, with 55 in a regular program and 79 in a retraining program. The first stage of the study involved the students receiving an explanation of the research, ensuring confidentiality, and signing informed consent. The students completed two questionnaires: The Student Attitudes Questionnaire and a sociodemographic questionnaire. In the second stage, three months after the workshop, the students completed the questionnaires again, along with a feedback questionnaire. Findings: The study found that there were no significant differences in the students' attitudes toward providing material support and proper financial management to families living in poverty before and after the workshop. However, their attitudes remained positive, at a medium level or higher. The students reported that the workshop provided them with tools to assist families in poverty, and they used these tools to some extent in their practical training. They found the workshop interesting and acknowledged its importance in raising awareness about budget management and enriching their knowledge of money management. The students acknowledged the workshop's effectiveness but mentioned that it was too short. Theoretical Importance: This study highlights the importance of developing programs to help families living in poverty manage their household finances. The workshop enriched the students' knowledge and skills, which are vital for their role as social workers working with families in poverty to rehabilitate their financial situations. Data Collection and Analysis Procedures: The students completed self-report questionnaires before and after the workshop, providing insights into their attitudes and perception about the role of social workers in providing material support for families living in poverty and helping them manage their household finances. Statistical analysis was conducted to compare the students' attitudes pre and post-workshop, and a feedback questionnaire assessed the students' perception of the contribution of the workshop. Question Addressed: This study addressed the question of whether a workshop on financial management can positively impact social work students' attitudes and skills in assisting families living in poverty with their household finances. Conclusion: Despite being short and consisting of only one session, the workshop proved to be valuable in enriching the students' knowledge and providing them with important tools for their role as social workers. The students reported positive attitudes toward providing material support and financial assistance to families in need. The practical recommendation is to continue offering such workshops as part of the social work curriculum to further enhance students' abilities to help families manage their finances effectively.

Keywords: financial literacy, poverty, social work students, workshop

Procedia PDF Downloads 72

Authors: Dhaksha Vivekanandan

Abstract:

DeFi is a network that avoids reliance on financial intermediaries through its peer-to-peer financial network. DeFi operates outside of government control; hence it is important for us to understand its impacts. This study employs a literature review to understand DeFi and its emergence, as well as its implications on transparency, social impact, and regulation. Further, 3 case studies are analysed within the context of these categories. DeFi’s provision of increased transparency poses environmental and storage costs and can lead to user privacy being endangered. DeFi allows for the provision of entrepreneurial incentives and protection against monetary censorship and capital control. Despite DeFi's transparency issues and volatility costs, it has huge potential to reduce poverty; however, regulation surrounding DeFi still requires further tightening by governments.

Keywords: DeFi, transparency, regulation, social impact

Procedia PDF Downloads 84

Authors: Abilio Pires Zacarias

Abstract:

Analyzing company boards of directors is a relevant and timely topic. As the representative of shareholders, the board is the most senior management body of this type of company. Therefore, ascertaining the best kind of candidates to nominate, namely the most appropriate characteristics for leading the board to achieve better levels of performance, is certainly of great interest. The companies selected for this study were the 1,000 largest non-financial companies and the 100 largest financial companies in Portugal according to the Instituto Nacional de Estatística for 2010. The information stemmed from a questionnaire addressed to the person in charge of daily company management and then processed through STATA 17 with the multivariate analysis of variables - MANOVA. The study may correspondingly report that the vast majority of boards in the sample operate a dual leadership structure. By in terms of its prevalence, unitary leadership represents only a minority. Agency theory and stewardship theory postulate different characteristics for the ideal chairman but neither receive confirmation from our results. On the other hand, our findings do validate the behavioral theory of firms (BToF), concluding that experience is associated with organizational performance. This study is also relevant due to its analysis of companies not listed on the financial markets not only because of their weighting in the economy but also because they remain only very poorly studied in this field and thus also correspondingly contributing to deepening the literature.

Keywords: agency theory, behavioral theory of the firm, board of directors, corporate governance, stewardship theory

Procedia PDF Downloads 181

Authors: Angelis P. Barlampas

Abstract:

PURPOSE: The purpose of this paper is to demonstrate the important role of taking an appropriate and detailed history, in order to reach the best possible diagnostic conclusion. MATERIAL: A patient presented to the emergency department due to the sudden onset of continuous abdominal pain, during the last hour and with the clinical symptoms of an acute abdomen. During the clinical examination, signs of peritoneal irritation and diffuse abdominal tenderness were found. The rest of the clinical and laboratory tests did not reveal anything important. From the reported medical history, nothing of note was found, except for the report of a large liver cyst, for which he was advised not to take any further action, except from regular ultrasound examination . METHOD: A computed tomography examination was performed after per os administration of gastrografin, which revealed a hyperdense ascitic effusion, similar in density to that of gastrografin within the intestinal tract. The presence of a large cyst of the left hepatic lobe was confirmed, contacting and pushing against the stomach. In the area of the contact between the liver cyst and the pylorus, there were extraluminal air bubbles and local opacity of the peritoneal fat, with a small hyperdense effusion. Result : The above, as well as the absence of a history of stomach ulcer or recent trauma, or other pathology, argue in favor of acute pyloric perforation, due to mural necrosis, in response to chronic external pressure from the pre-existing large liver cyst.

Keywords: perforation, stomach, large liver cyst, CT abdomen, acute abdominal pain, intraperitoneal leakage, constrast leakage

Procedia PDF Downloads 96

Authors: Deniz Ünal Özpalamutcu, Burcu Altman

Abstract:

Actuaria uses mathematics, statistic and financial information when analyzing the financial impacts of uncertainties, risks, insurance and pension related issues. In other words, it deals with the likelihood of potential risks, their financial impacts and especially the financial measures. Handling these measures require some long-term payment and investments. So, it is obvious it is inevitable to plan the periodic payments with equal time intervals considering also the changing value of money over time. These series of payment made specific intervals of time is called annuity or rant. In literature, rants are classified based on start and end dates, start times, payments times, payments amount or frequency. Classification of rants based on payment amounts changes based on the constant, descending or ascending payment methods. The literature about handling the annuity is very limited. Yet in a daily life, especially in today’s world where the economic issues gained a prominence, it is very crucial to use the variable annuity method in line with the demands of the customers. In this study, the types of annuities with flexible payment are discussed. In other words, we focus on calculating payment amount of a period by adding a certain percentage of previous period payment was studied. While studying this problem, formulas were created considering both start and end period payments for cash value and accumulated. Also increase of each period payment by r interest rate each period payments calculated with previous periods increases. And the problem of annuities (rants) of which each period payment increased with previous periods’ increase by r interest rate has been analyzed. Cash value and accumulated value calculation of this problem were studied separately based on the period start/end and their relations were expressed by formulas.

Keywords: actuaria, annuity, flexible payment, rant

Procedia PDF Downloads 221

Authors: Sharmin Shahid, Zaher Zain

Abstract:

The purpose of this study is to explore and examines the theoretical frameworks of ethical leadership style and affective organizational commitment. Additionally, to investigate the extent to which employee orientation and ethical guidance either strengthen or weaken on the relationship between ethical leadership style and affective commitment. The study will also measure the mediating effects of leader’s integrity either influence to inspire and revival employee’s affective commitment or not. The methodology of the study comprised sample of 237 managers, departmental heads, top-level executives, and professors of several financial institutions, banks, and universities in Bangladesh who are directly related with decision making process of respective organization. A cross sectional research design will be used to examine the direct, moderating, and mediating analysis among the research key variables. Data were gathered based on personal administered questionnaire. The findings of the study will be significance because it will provide the real scenario of leadership style which leads to financial and strategic success of any organizations. In addition, the results will be interesting enough to find out either ethical leadership style have positive relationship with affective commitment or not. Employee-orientation and ethical guidance is a moderator to improve leadership style and affective commitment, whereas, leader’s integrity mediates the relationships between leadership style and affective organizational commitment to do the right thing in the right way for the betterment of entire organizational success. Research limitations of the study are the data collected by self administered questionnaire, a method with well-known shortcomings. Second, the study concentrated on financial institutions, banks top executives, and universities professors in Bangladesh. An important implication of the research is that the interesting findings will give some insight to the leadership style and helps management to focus on their management and leadership efficacy, as that could improve their affective organizational commitment. The findings will be original and unique value adding with the existing literature on leadership studies. The study is based on a comprehensive literature review. The results will be based on a sample of financial institutions, banks, and universities in Bangladesh. The research findings are useful to academics and corporate leaders of financial institutions, banks, and universities all over the world.

Keywords: affective organizational commitment, Bangladesh, ethical guidance, ethical leadership style

Procedia PDF Downloads 321