Search results for: financial management skills
13506 Sudan’s Approach to Knowledge Management in Disaster Management
Authors: Mohamed Abdalla Elamein Boshara, Peter Charles Woods, Nour Eldin Mohamed Elshaiekh
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Knowledge Management has become very important for Disaster Management response and planning. This paper proposes the implementation of a Knowledge Management System with a sustainable data collection mechanism for reliable and timely information management to support decision makers in making the right decisions in the timely manner.Keywords: knowledge management, disaster management, incident tracking, web application
Procedia PDF Downloads 78013505 Student Researchers and Industry Partnerships Improve Health Management with Data Driven Decisions
Authors: Carole A. South-Winter
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Research-based learning gives students the opportunity to experience problems that require critical thinking and idea development. The skills they gain in working through these problems 'hands-on,' develop into attributes that benefit their careers in the professional field. The partnerships developed between students and industries give advantages to both sides. The students gain knowledge and skills that will increase their likelihood of success in the future and the industries are given research on new advancements that will give them a competitive advantage in their given field of work. The future of these partnerships is dependent on the success of current programs, enabling the enhancement and improvement of the research efforts. Once more students can complete research, there will be an increase in reliability of the results for each industry. The overall goal is to continue the support for research-based learning and the partnerships formed between students and industries.Keywords: global healthcare, industry partnerships, research-driven decisions, short-term study abroad
Procedia PDF Downloads 12613504 Learning Mathematics Online: Characterizing the Contribution of Online Learning Environment’s Components to the Development of Mathematical Knowledge and Learning Skills
Authors: Atara Shriki, Ilana Lavy
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Teaching for the first time an online course dealing with the history of mathematics, we were struggling with questions related to the design of a proper learning environment (LE). Thirteen high school mathematics teachers, M.Ed. students, attended the course. The teachers were engaged in independent reading of mathematical texts, a task that is recognized as complex due to the unique characteristics of such texts. In order to support the learning processes and develop skills that are essential for succeeding in learning online (e.g. self-regulated learning skills, meta-cognitive skills, reflective ability, and self-assessment skills), the LE comprised of three components aimed at “scaffolding” the learning: (1) An online "self-feedback" questionnaires that included drill-and-practice questions. Subsequent to responding the questions the online system provided a grade and the teachers were entitled to correct their answers; (2) Open-ended questions aimed at stimulating critical thinking about the mathematical contents; (3) Reflective questionnaires designed to assist the teachers in steering their learning. Using a mixed-method methodology, an inquiry study examined the learning processes, the learners' difficulties in reading the mathematical texts and on the unique contribution of each component of the LE to the ability of teachers to comprehend the mathematical contents, and support the development of their learning skills. The results indicate that the teachers found the online feedback as most helpful in developing self-regulated learning skills and ability to reflect on deficiencies in knowledge. Lacking previous experience in expressing opinion on mathematical ideas, the teachers had troubles in responding open-ended questions; however, they perceived this assignment as nurturing cognitive and meta-cognitive skills. The teachers also attested that the reflective questionnaires were useful for steering the learning. Although in general the teachers found the LE as supportive, most of them indicated the need to strengthen instructor-learners and learners-learners interactions. They suggested to generate an online forum to enable them receive direct feedback from the instructor, share ideas with other learners, and consult with them about solutions. Apparently, within online LE, supporting learning merely with respect to cognitive aspects is not sufficient. Leaners also need an emotional support and sense a social presence.Keywords: cognitive and meta-cognitive skills, independent reading of mathematical texts, online learning environment, self-regulated learning skills
Procedia PDF Downloads 62113503 Developing Students’ Academic Writing Skills through Scientific Reading: Using Questions and Answer Activities
Authors: Makhim Artikova, Shavkat Duschanov
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So far, there have been a plethora of attempts to improve learners’ academic writing skills. However, this issue remains to be a real concern among the majority of students, especially those who are standing on their academic life threshold. The purpose of this research is improving students’ academic writing skills through 'Questions and Answer Reading' activities. Using well-prepared and well-chosen reading materials (from textbooks, scientific journals, or magazines) and applying questions and answer activities in the classroom facilitate learners to become great critical readers. Furthermore, it boosts their writing skills, which are the most crucial part of students’ personal and academic developments. In this activity, the class is divided into small groups of four. Then, the instructor will give students whether one section of the text or full text asking them to read and to find unfamiliar words within the group. After discovering the meaning of unknown words, each group has to share their findings with the class. In the next stage of the activity, students should be asked to create questions in a group based on the given reading material. Follow by each group should ask the other groups their questions which are an excellent opportunity to challenge leads to improve critical thinking skills. In the last part, the students are asked to write the text or article summary, which is the activity core that pilots to the writing skills perfection. This engaging activity highlights the effectiveness of incorporating reading materials into the classroom when it comes to improving students’ composition writings. Structural writing after every reading activity resulted in improving students’ coherence and cohesion in writing well-organized essays. Having experimented with high school 9th and 11th-grade students, implementing reading activities into the classroom is proved to be a productive tool to enhance one’s academic writing skills. In the future, this method planning to be implemented among university students.Keywords: academic writing, coherence and cohesion, questions and answer activities, scientific reading
Procedia PDF Downloads 11013502 Studying the Effects of Economic and Financial Development as Well as Institutional Quality on Environmental Destruction in the Upper-Middle Income Countries
Authors: Morteza Raei Dehaghi, Seyed Mohammad Mirhashemi
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The current study explored the effect of economic development, financial development and institutional quality on environmental destruction in upper-middle income countries during the time period of 1999-2011. The dependent variable is logarithm of carbon dioxide emissions that can be considered as an index for destruction or quality of the environment given to its effects on the environment. Financial development and institutional development variables as well as some control variables were considered. In order to study cross-sectional correlation among the countries under study, Pesaran and Friz test was used. Since the results of both tests show cross-sectional correlation in the countries under study, seemingly unrelated regression method was utilized for model estimation. The results disclosed that Kuznets’ environmental curve hypothesis is confirmed in upper-middle income countries and also, financial development and institutional quality have a significant effect on environmental quality. The results of this study can be considered by policy makers in countries with different income groups to have access to a growth accompanied by improved environmental quality.Keywords: economic development, environmental destruction, financial development, institutional development, seemingly unrelated regression
Procedia PDF Downloads 34813501 The Causes of Governance Inefficiency in the Financial Institutions: An Interdisciplinary Approach to the Theory of Corporate Governance
Authors: Emilia Klepczarek
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The Basel Committee on Banking Supervision and the OECD found problems with the mechanisms of corporate governance as one of the major causes of destabilization of the financial system and the subprime crisis in the years 2007-2010. In response to these allegations, there were formulated a number of recommendations aimed at improving the quality of supervisory standards in financial institutions. They relate mainly to risk management, remuneration policy, the competence of managers and board members and transparency issues. Nevertheless, a review of the empirical research conducted by the author does not allow for an unambiguous confirmation of the positive impact of the postulated standards on the stability of banking entities. There is, therefore, a presumption of the existence of hidden variables determining the effectiveness of the governance mechanisms. According to the author, this involves concepts arising from behavioral economics and economic anthropology, which allow for an explanation of the effectiveness of corporate governance institutions on the basis of the socio-cultural profile of its members. The proposed corporate governance culture theory indicates that the attributes of the members of the organization and organizational culture can determine the different effectiveness level of the governance processes in similar formal corporate governance structures. The aim of the presentation is, firstly, to draw attention to the vast discrepancies existing within the results of research on the effectiveness of the standards of corporate governance in the banking sector. Secondly, the author proposes an explanation of these differences on the basis of governance theory breaking with common paradigms. The corporate governance culture theory is focused on the identity of the individual and the scope of autonomy offered within his or her institution. The coexistence of these two conditions - the adequate behavioral profile and enough freedom to decide - is a prerequisite for the efficient functioning of the institutions of corporate governance, which can contribute to rehabilitating and strengthening the stability of the financial sector.Keywords: autonomy, corporate governance, efficiency, governance culture
Procedia PDF Downloads 24313500 Knowledge Management at Spanish Higher Education Institutions
Authors: Yolanda Ramirez, Angel Tejada, Agustin Baidez
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In the knowledge-based economy, intangible elements are considered essential in order to achieve competitive advantage in organizations. In this sense, the Balanced Scorecard is a very suitable tool to recognize value and manage intangibles because it translates an organization’s strategic objectives into a set of performance indicators from a financial, as well as customer perspective, internal process and learning and growth perspectives. The aim of this paper is to expose and justify the benefits that the Balanced Scorecard might have for identifying, measuring and managing intellectual capital at universities, by means of reviewing the most important Balanced Scorecard implementations at Spanish public universities.Keywords: knowledge management, balanced scorecard, universities, Spain
Procedia PDF Downloads 27313499 Variability of Product Quality and Profitability of Fish Farms in Greece
Authors: Sophia Anastasiou, Cosmas Nathanailides, Fotini Kakali, Panagiotis Logothetis, Gregorios Kanlis
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The method and rearing conditions of aquaculture may very between different regions and aquaculture sites. Globally, the Aquaculture industry faces a challenge to develop aquaculture methods which safeguard the economic viability of the company, the welfare of farmed fish and final product quality and sustainable development of aquaculture. Marine fish farms in Greece operate in different locations and farmed fish are exposed to a variety of rearing conditions. This paper investigates the variability of product quality and the financial performance of different marine fish farms operating in West Greece. Production parameters of gilthead sea bream fish farm such as feeding regimes, mortalities, fish densities were used to calculate the economic efficiency of six different aquaculture sites from West Greece. Samples of farmed sea bream were collected and lipid content, microbial load and filleting yield of the samples were used as quality criteria. The results indicate that Lipid content, filleting yield and microbial load of fish originating from different fish farms varied significantly with improved quality exhibited in fish farms which exhibited improved Feed conversion rates and lower mortalities. Changes in feeding management practices such as feed quality and feeding regimes have a significant impact on the financial performance of sea bass farms. Fish farms which exhibited improved feeding conversion rates also exhibited increased profitability. Improvements in the FCR explained about 13.4 % of the difference in profitability of the different aquaculture sites. Lower mortality and higher growth rates were also exhibited by the fish farms which exhibited improved FCR. It is concluded that best feeding management practices resulted in improved product quality and profitability.Keywords: fish quality, aquaculture management, feeding management, profitability
Procedia PDF Downloads 46713498 Transaction Cost Analysis, Execution Quality, and Best Execution under MiFID II
Authors: Rodrigo Zepeda
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Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments
Procedia PDF Downloads 29013497 Ubiquitous Collaborative Learning Activities with Virtual Teams Using CPS Processes to Develop Creative Thinking and Collaboration Skills
Authors: Sitthichai Laisema, Panita Wannapiroon
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This study is a research and development which is intended to: 1) design ubiquitous collaborative learning activities with virtual teams using CPS processes to develop creative thinking and collaboration skills, and 2) assess the suitability of the ubiquitous collaborative learning activities. Its methods are divided into 2 phases. Phase 1 is the design of ubiquitous collaborative learning activities with virtual teams using CPS processes, phase 2 is the assessment of the suitability of the learning activities. The samples used in this study are 5 professionals in the field of learning activity design, ubiquitous learning, information technology, creative thinking, and collaboration skills. The results showed that ubiquitous collaborative learning activities with virtual teams using CPS processes to develop creative thinking and collaboration skills consist of 3 main steps which are: 1) preparation before learning, 2) learning activities processing and 3) performance appraisal. The result of the learning activities suitability assessment from the professionals is in the highest level.Keywords: ubiquitous learning, collaborative learning, virtual team, creative problem solving
Procedia PDF Downloads 51413496 The Impact of Skills-Development Training on Lower-Level Employee's Motivation and Job Satisfaction: A Case-Study of Five South African Companies
Authors: M. N. Naong
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Empirical findings of the impact of training on employee motivation and job satisfaction are reported. One of the major debilitating effects of the legacy of apartheid is a high level of illiteracy in the South African population. Encouraging the corporate sector through levies to promote skills development seems to have been received with mixed feelings. In this regard, the impact of training on the motivation level and job satisfaction of randomly sampled employees of five companies in two South African provinces is reported on. A longitudinal study, with a pre- and post-quasi experimental research design, was adopted to achieve the goal of the study - using a Job Description Index (JDI) measuring instrument to collect data from the respondents. There was a significant correlation between job satisfaction and effectiveness of training transfer - i.e. those employees who received more training were more motivated than those who received less training or no training at all. It is concluded that managers need to appreciate and ensure that the effectiveness of skills transfer is a critical determinant, that must illuminate the underlying challenges of achieving bottom-line targets.Keywords: employee motivation, skills transfer, moderating effect, job satisfaction, lower-level employees
Procedia PDF Downloads 31313495 An Approach to Tackle Start up Problems Using Applied Games
Authors: Aiswarya Gopal, Kamal Bijlani, Vinoth Rengaraj, R. Jayakrishnan
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In the business world, the term “startup” is frequently ringing the bell with the high frequency of young ventures. The main dilemma of startups is the unsuccessful management of the unique risks that have to be confronted in the present world of competition and technology. This research work tried to bring out a game based methodology to improve enough real-world experience among entrepreneurs as well as management students to handle risks and challenges in the field. The game will provide experience to the player to overcome challenges like market problems, running out of cash, poor management, and product problems which can be resolved by a proper strategic approach in the entrepreneurship world. The proposed serious game works on the life cycle of a new software enterprise where the entrepreneur moves from the planning stage to secured financial stage, laying down the basic business structure, and initiates the operations ensuring the increment in confidence level of the player.Keywords: business model, game based learning, poor management, start up
Procedia PDF Downloads 47513494 The School-to-Work Transition: The Case of NEET Youths from Rural Areas
Authors: Anđelka Stojanović, Ivan Mihajlović, Ivica Nikolić
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In the past years, due to the financial crisis and the tightening of conditions on the labor market, young people are facing great challenges in achieving financial independence and finding their place in society. Higher unemployment rates, poorer living conditions, separation from the labor market, and longer school-to-work transitions particularly affect rural youth and make significant differences between youth groups in rural and urban areas. Improving employability skills and development of instruments for further learning among young people “Not in Education, Employment, or Training” (NEET) should not be only the concerns of these people, already adequately be directed and supported by the institutions. According to the World Bank data, the share of youth not in education, employment or training (NEET), in the European Union in the past few years decreases but still shows a significant share in the total percentage of the youth population. In 2017 rate was 10.96% while in 2018 that value was 10.38%. When observing individual countries in Europe, especially those with lower incomes, this rate is much higher. It was concluded that this topic was not sufficiently elaborated and presented in the social and scientific environment. Therefore, the aim of this paper is to identify and systematize the problems of school-to-work transition among young NEETs living in rural areas as well as the initiatives for addressing their problems.Keywords: NEET youth, risks and initiatives, rural youth, school-to-work transition
Procedia PDF Downloads 11413493 Novel GPU Approach in Predicting the Directional Trend of the S&P500
Authors: A. J. Regan, F. J. Lidgey, M. Betteridge, P. Georgiou, C. Toumazou, K. Hayatleh, J. R. Dibble
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Our goal is development of an algorithm capable of predicting the directional trend of the Standard and Poor’s 500 index (S&P 500). Extensive research has been published attempting to predict different financial markets using historical data testing on an in-sample and trend basis, with many authors employing excessively complex mathematical techniques. In reviewing and evaluating these in-sample methodologies, it became evident that this approach was unable to achieve sufficiently reliable prediction performance for commercial exploitation. For these reasons, we moved to an out-of-sample strategy based on linear regression analysis of an extensive set of financial data correlated with historical closing prices of the S&P 500. We are pleased to report a directional trend accuracy of greater than 55% for tomorrow (t+1) in predicting the S&P 500.Keywords: financial algorithm, GPU, S&P 500, stock market prediction
Procedia PDF Downloads 35013492 An International Analysis of Career Development and Management Programs for High-Performance Athletes: A Perspective of Organizational Support
Authors: H. J. Hong
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Sporting organizations are arguably responsible for encouraging high-performance athletes to balance their life and identity during their sporting career; sporting organizations can establish the motivational climate for high-performance athletes using athlete career development and management programs. The purpose of this article to provide an overview of career development and management programs in 20 countries and to examine the following seven features of the programs: (1) Which government-funded sporting organizations provide career development and management programs? (2) Which athletes are eligible to access the programs? (3) What are the aims and objectives of the programs? (4) What are the activities and content of the programs? (5) Who is responsible for the delivery of the programs within organizations (e.g., advisors, coordinators, service providers, counsellors, etc.)? (6) Do the sporting organizations have training and development programs for support services providers? and (7) Do the sporting organizations assess the programs in terms of the programs’ impact on high-performance athletes’ career development and management skills? Web-based data collection was conducted first. The author contacted the sporting organizations to clarify information as required by requesting further information via emails, international calls, video calls on Skype, and by visiting the sporting organizations and meeting with the practitioners (Fiji, Ireland, Korea, Scotland, Singapore, and Spain). By selecting comparable career development and management programs, the present study reviews programs across the world, identifying similarities, differences, and difficulties, so that sporting organizations and practitioners may enhance the quality of their programs. Since international comparisons of career development and management programs remain scarce, the findings deepen the knowledge of high-performance athletes’ career development, management, and transitions in the areas of organizational support programs.Keywords: athletes' career development and management, athletes' psychological preparation, organizational support, sport career transition
Procedia PDF Downloads 12513491 The Relationship between Organizations' Acquired Skills, Knowledge, Abilities and Shareholders (SKAS) Wealth Maximization: The Mediating Role of Training Investment
Authors: Gabriel Dwomoh, Williams Kwasi Boachie, Kofi Kwarteng
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The study looked at the relationship between organizations’ acquired knowledge, skills, abilities, and shareholders wealth with training playing the mediating role. The sample of the study consisted of organizations that spent 10% or more of its annual budget on training and those whose training budget is less than 10% of the organization’s annual budget. A total of 620 questionnaires were distributed to employees working in various organizations out of which 580 representing 93.5% were retrieved. The respondents that constitute the sample were drawn using convenience sampling. The researchers used regression models for their analyses with the help of SPSS 16.0. Analyzing multiple models, it was discovered that organizations training investment plays a considerable indirect and direct effect with partial mediation between organizations acquired skills, knowledge, abilities, and shareholders wealth. Shareholders should allow their agents to invest part of their holdings to develop the human capital of the organization but this should be done with caution since shareholders returns do not depend much on how much organizations spend in developing its human resource capital.Keywords: skills, knowledge, abilities, shareholders wealth, training investment
Procedia PDF Downloads 24013490 The Superior Performance of Investment Bank-Affiliated Mutual Funds
Authors: Michelo Obrey
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Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market.Keywords: mutual fund performance, conflicts of interest, informational advantage, investment bank
Procedia PDF Downloads 18813489 Nurse Participation for the Economical Effectiveness in Medical Organizations
Authors: Alua Masalimova, Dameli Sulubecova, Talgat Isaev, Raushan Magzumova
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The usual relation to nurses of heads of medical organizations in Kazakhstan is to use them only for per performing medical manipulations, but new economic conditions require the introduction of nursing innovations. There is an increasing need for managers of hospital departments and regions of ambulatory clinics to ensure comfortable conditions for doctors, nurses, aides, as well as monitoring marketing technology (the needs and satisfaction of staff work, the patient satisfaction of the department). It is going to the past the nursing activities as physician assistant performing his prescriptions passively. We are suggesting a model for the developing the head nurse as the manager on the example of Blood Service. We have studied in the scientific-production center of blood transfusion head nurses by the standard method of interviewing for involvement in coordinating the flow of information, promoting the competitiveness of the department. Results: the average age of the respondents 43,1 ± 9,8, female - 100%; manager in the Organization – 9,3 ± 10,3 years. Received positive responses to the knowledge of the nearest offices in providing similar medical service - 14,2%. The cost of similar medical services in other competitive organizations did not know 100%, did a study of employee satisfaction Division labour-85,7% answered negatively, the satisfaction donors work staff studied in 50.0% of cases involved in attracting paid Services Division showed a 28.5% of the respondent. Participation in management decisions medical organization: strategic planning - 14,2%, forming analysis report for the year – 14,2%, recruitment-30.0%, equipment-14.2%. Participation in the social and technical designing workplaces Division staff showed 85,0% of senior nurses. Participate in the cohesion of the staff of the Division method of the team used the 10.0% of respondents. Further, we have studied the behavioral competencies for senior sisters: customer focus – 20,0% of respondents have attended, the ability to work in a team – 40,0%. Personal qualities senior nurses were apparent: sociability – 80,0%, the ability to manage information – 40,0%, to make their own decisions - 14,2%, 28,5% creativity, the desire to improve their professionalism – 50,0%. Thus, the modern market conditions dictate this organization, which works for the rights of economic management; include the competence of the post of the senior nurse knowledge and skills of Marketing Management Department. Skills to analyses the information collected and use of management offers superior medical leadership organization. The medical organization in the recruitment of the senior nurse offices take into account personal qualities: flexibility, fluency of thinking, communication skills and ability to work in a team. As well as leadership qualities, ambition, high emotional and social intelligence, that will bring out the medical unit on competitiveness within the country and abroad.Keywords: blood service, head nurse, manager, skills
Procedia PDF Downloads 24413488 Subjective Probability and the Intertemporal Dimension of Probability to Correct the Misrelation Between Risk and Return of a Financial Asset as Perceived by Investors. Extension of Prospect Theory to Better Describe Risk Aversion
Authors: Roberta Martino, Viviana Ventre
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From a theoretical point of view, the relationship between the risk associated with an investment and the expected value are directly proportional, in the sense that the market allows a greater result to those who are willing to take a greater risk. However, empirical evidence proves that this relationship is distorted in the minds of investors and is perceived exactly the opposite. To deepen and understand the discrepancy between the actual actions of the investor and the theoretical predictions, this paper analyzes the essential parameters used for the valuation of financial assets with greater attention to two elements: probability and the passage of time. Although these may seem at first glance to be two distinct elements, they are closely related. In particular, the error in the theoretical description of the relationship between risk and return lies in the failure to consider the impatience that is generated in the decision-maker when events that have not yet happened occur in the decision-making context. In this context, probability loses its objective meaning and in relation to the psychological aspects of the investor, it can only be understood as the degree of confidence that the investor has in the occurrence or non-occurrence of an event. Moreover, the concept of objective probability does not consider the inter-temporality that characterizes financial activities and does not consider the condition of limited cognitive capacity of the decision maker. Cognitive psychology has made it possible to understand that the mind acts with a compromise between quality and effort when faced with very complex choices. To evaluate an event that has not yet happened, it is necessary to imagine that it happens in your head. This projection into the future requires a cognitive effort and is what differentiates choices under conditions of risk and choices under conditions of uncertainty. In fact, since the receipt of the outcome in choices under risk conditions is imminent, the mechanism of self-projection into the future is not necessary to imagine the consequence of the choice and the decision makers dwell on the objective analysis of possibilities. Financial activities, on the other hand, develop over time and the objective probability is too static to consider the anticipatory emotions that the self-projection mechanism generates in the investor. Assuming that uncertainty is inherent in valuations of events that have not yet occurred, the focus must shift from risk management to uncertainty management. Only in this way the intertemporal dimension of the decision-making environment and the haste generated by the financial market can be cautioned and considered. The work considers an extension of the prospectus theory with the temporal component with the aim of providing a description of the attitude towards risk with respect to the passage of time.Keywords: impatience, risk aversion, subjective probability, uncertainty
Procedia PDF Downloads 10713487 Threshold Competency of Students in Graduate School
Authors: Terada Pinyo
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This study is the survey research, designed to find out the threshold competency of graduate students in terms of knowledge excellency and professional skills proficiency based on Thai Qualifications Framework for Higher Education (TQF). The sample group consisted of 240 students. The results were collected by stratified sampling, using study programs for each stage. The results were analysed and calculated by computer program. Statistics used during analysing were percentage, mean, and standard deviation. From the study, the threshold competency of graduate students were in very high score range in both overall and specific category. The top category which received the most score was interpersonal skills and responsibility, following by ethics and morality, knowledge and skills, and numerical communication and information technology.Keywords: threshold competency, Thai qualifications framework for higher education, graduate school
Procedia PDF Downloads 40213486 Building the Professional Readiness of Graduates from Day One: An Empirical Approach to Curriculum Continuous Improvement
Authors: Fiona Wahr, Sitalakshmi Venkatraman
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Industry employers require new graduates to bring with them a range of knowledge, skills and abilities which mean these new employees can immediately make valuable work contributions. These will be a combination of discipline and professional knowledge, skills and abilities which give graduates the technical capabilities to solve practical problems whilst interacting with a range of stakeholders. Underpinning the development of these disciplines and professional knowledge, skills and abilities, are “enabling” knowledge, skills and abilities which assist students to engage in learning. These are academic and learning skills which are essential to common starting points for both the learning process of students entering the course as well as forming the foundation for the fully developed graduate knowledge, skills and abilities. This paper reports on a project created to introduce and strengthen these enabling skills into the first semester of a Bachelor of Information Technology degree in an Australian polytechnic. The project uses an action research approach in the context of ongoing continuous improvement for the course to enhance the overall learning experience, learning sequencing, graduate outcomes, and most importantly, in the first semester, student engagement and retention. The focus of this is implementing the new curriculum in first semester subjects of the course with the aim of developing the “enabling” learning skills, such as literacy, research and numeracy based knowledge, skills and abilities (KSAs). The approach used for the introduction and embedding of these KSAs, (as both enablers of learning and to underpin graduate attribute development), is presented. Building on previous publications which reported different aspects of this longitudinal study, this paper recaps on the rationale for the curriculum redevelopment and then presents the quantitative findings of entering students’ reading literacy and numeracy knowledge and skills degree as well as their perceived research ability. The paper presents the methodology and findings for this stage of the research. Overall, the cohort exhibits mixed KSA levels in these areas, with a relatively low aggregated score. In addition, the paper describes the considerations for adjusting the design and delivery of the new subjects with a targeted learning experience, in response to the feedback gained through continuous monitoring. Such a strategy is aimed at accommodating the changing learning needs of the students and serves to support them towards achieving the enabling learning goals starting from day one of their higher education studies.Keywords: enabling skills, student retention, embedded learning support, continuous improvement
Procedia PDF Downloads 24813485 Optimisation Model for Maximising Social Sustainability in Construction Scheduling
Authors: Laura Florez
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The construction industry is labour intensive, and the behaviour and management of workers have a direct impact on the performance of construction projects. One of the issues it currently faces is how to recruit and maintain its workers. Construction is known as an industry where workers face the problem of short employment durations, frequent layoffs, and periods of unemployment between jobs. These challenges not only creates pressures on the workers but also project managers have to constantly train new workers, face skills shortage, and uncertainty on the quality of the workers it will attract. To consider worker’s needs and project managers expectations, one practice that can be implemented is to schedule construction projects to maintain a stable workforce. This paper proposes a mixed integer programming (MIP) model to schedule projects with the objective of maximising social sustainability of construction projects, that is, maximise labour stability. Aside from the social objective, the model accounts for equipment and financial resources required by the projects during the construction phase. To illustrate how the solution strategy works, a construction programme comprised of ten projects is considered. The projects are scheduled to maximise labour stability while simultaneously minimising time and minimising cost. The tradeoff between the values in terms of time, cost, and labour stability allows project managers to consider their preferences and identify which solution best suits their needs. Additionally, the model determines the optimal starting times for each of the projects, working patterns for the workers, and labour costs. This model shows that construction projects can be scheduled to not only benefit the project manager, but also benefit current workers and help attract new workers to the industry. Due to its practicality, it can be a valuable tool to support decision making and assist construction stakeholders when developing schedules that include social sustainability factors.Keywords: labour stability, mixed-integer programming (MIP), scheduling, workforce management
Procedia PDF Downloads 25313484 Evaluation Framework for Investments in Rail Infrastructure Projects
Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki
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Transport infrastructures are high-cost, long-term investments that serve as vital foundations for the operation of a region or nation and are essential to a country’s or business’s economic development and prosperity, by improving well-being and generating jobs and income. The development of appropriate financing options is of key importance in the decision making process in order develop viable transport infrastructures. The development of transport infrastructure has increasingly been shifting toward alternative methods of project financing such as Public Private Partnership (PPPs) and hybrid forms. In this paper, a methodological decision-making framework based on the evaluation of the financial viability of transportation infrastructure for different financial schemes is presented. The framework leads to an assessment of the financial viability which can be achieved by performing various financing scenarios analyses. To illustrate the application of the proposed methodology, a case study of rail transport infrastructure financing scenario analysis in Greece is developed.Keywords: rail transport infrastructure, financial viability, scenario analysis, rail project feasibility
Procedia PDF Downloads 27813483 Role of Financial Institutions in Promoting Micro Service Enterprises with Special Reference to Hairdressing Salons
Authors: Gururaj Bhajantri
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Financial sector is the backbone of any economy and it plays a crucial role in the mobilisation and allocation of resources. One of the main objectives of financial sector is inclusive growth. The constituents of the financial sector are banks, and financial Institutions, which mobilise the resources from the surplus sector and channelize the same to the different needful sectors in the economy. Micro Small and the Medium Enterprises sector in India cover a wide range of economic activities. These enterprises are divided on the basis of investment on equipment. The micro enterprises are divided into manufacturing and services sector. Micro Service enterprises have investment limit up to ten lakhs on equipment. Hairdresser is one who not only cuts and shaves but also provides different types of hair cut, hairstyles, trimming, hair-dye, massage, manicure, pedicure, nail services, colouring, facial, makeup application, waxing, tanning and other beauty treatments etc., hairdressing salons provide these services with the help of equipment. They need investment on equipment not more than ten lakhs. Hence, they can be considered as Micro service enterprises. Hairdressing salons require more than Rs 2.50,000 to start a moderate salon. Moreover, hairdressers are unable to access the organised finance. Still these individuals access finance from money lenders with high rate of interest to lead life. The socio economic conditions of hairdressers are not known properly. Hence, the present study brings a light on the role of financial institutions in promoting hairdressing salons. The study also focuses the socio-economic background of individuals in hairdressings salons, problems faced by them. The present study is based on primary and secondary data. Primary data collected among hairdressing salons in Davangere city. Samples selected with the help of simple random sampling techniques. Collected data analysed and interpreted with the help of simple statistical tools.Keywords: micro service enterprises, financial institutions, hairdressing salons, financial sector
Procedia PDF Downloads 20513482 Geo Spatial Database for Railway Assets Management
Authors: Muhammad Umar
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Safety and Assets management is considering a backbone of every department. GIS in the Railway become very important to Manage Assets and Security through Digital Maps and Web based GIS Maps. It provides a complete frame of work to the organization for the management of assets. Pakistan Railway is the most common and safest mode of traveling in Pakistan. Due to ever-increasing demand of transporting huge amount of information generated from various sources and this information must be accurate. This creates problems for Passengers and Administration that causes finical and time loss. GIS Solve this problem by Digital Maps & Database. It provides you a real time Spatial and Statistical analysis that helps you to communicate and exchange the information in a sophisticated way to the users. GIS Based Web system provides a facility to different end user to make query at a time as per requirements. This GIS System provides an advancement in an organization for a complete Monitoring, Safety and Decision System for tracks, Stations and Junctions that further use for the Analysis of different areas i.e. analysis of tracks, junctions and Stations in case of reconstruction, Rescue for rail accidents and Natural disasters .This Research work helps to reduce the financial loss and reduce human mistakes helps you provide a complete security and Management system of assets.Keywords: Geographical Information System (GIS) for assets management, geo spatial database, railway assets management, Pakistan
Procedia PDF Downloads 49113481 Telephonic Communication in Palliative Care for Better Management of Terminal Cancer Patients in Rural India: An NGO Based Approach
Authors: Aditya Manna, L. K. Khanra, S. K. Sarkar
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Aim: Due to financial incapability and the absence of manpower-poor families often fail to carry their advanced cancer patients to the nodal centers. This pilot study will explore whether communication by mobile phone can lessen this burden. Method: Initially a plan was generated regarding management of an advanced cancer patient in a nodal center at District Head Quarter. Subsequently every two week a trained social worker attached to the nodal center will follow up and give necessary advice and emotional support to the patients and their families through their registered mobile phone number. Patient’s family were also encouraged to communicate with the team by phone in case of fresh complain and urgency in between. Results: Since initiation in January 2013, 193 cancer patients were contacted by mobile phone every two weeks to enquire about their difficulties. In 76% of the situation trained social workers could give necessary advice by phone regarding management of their physical symptoms. Moreover, patient’s family was really overwhelmed by the emotional support offered by the team over the phone. Only 24% of cancer patients have to attend the nodal center for expert advice from Palliative Care specialists. Conclusion: This novel approach helped: (a) In providing regular physical and emotional support to the patients and their families. (b) In significantly reducing the financial and manpower problems of carrying patients to the nodal units. (c) In improving the quality of life of patients by continuous guidance. More and more team members can take help of this new strategy for better communication and uninterrupted care.Keywords: palliative care, terminal care, home based palliative care, rural india
Procedia PDF Downloads 30413480 Advancing Sustainable Development in the Construction Industry: A Theoretical Framework for Integrating Sustainable Project Management
Authors: Francis Kwesi Bondinuba, Seidu Abdullah, Nelly Bondinuba
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Purpose: The study proposes a theoretical framework for integrating sustainable project management in the construction sector, addressing the need for sustainable development practices. Methodology: The study adopts a theoretical approach by reviewing existing literature on sustainable development and project management in the construction industry. It analyses various concepts, theories, and frameworks to develop a comprehensive theoretical framework for integrating sustainable project management. Findings: The study emphasizes the importance of incorporating sustainable development practices into construction project management, focusing on collaboration, stakeholder engagement, and continuous improvement to achieve environmental conservation, social responsibility, and economic viability. Conclusion: Sustainable Project Management (SPM) in Ghana's construction industry is challenging due to lack of awareness, regulatory frameworks, financial constraints, and skill shortages, despite its benefits in promoting social inclusivity, job creation, and environmental resilience. Recommendation: The construction industry in Ghana should adopt a comprehensive approach involving local communities, government bodies, and environmental organizations. It should utilize green materials and technologies and effectively manage waste. Originality: This study presents a theoretical framework for sustainable project management in construction. It emphasizes collaboration and stakeholder engagement for long-term sustainable outcomes and considers environmental, social, and economic aspects.Keywords: construction industry, theoretical framework, integration, project management, sustainable development
Procedia PDF Downloads 3213479 Competency-Based Social Work Practice and Challenges in Child Case Management: Studies in the Districts Social Welfare Services, Malaysia
Authors: Sopian Brahim, Mohd Suhaimi Mohamad, Ezarina Zakaria, Norulhuda Sarnon
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This study aims to explore the practical experience of child welfare case workers and professionalism in the child case management in Malaysia. This paper discusses the specific social work practice competency and challenges faced by child caseworkers in the fieldwork. This research is qualitative with Grounded Theory approach. Four sessions of Focused Group Discussion (FGD) have been conducted involving a total of 27 caseworkers (child protector and probation officers) in the Klang Valley. The study found that the four basic principles of knowledge in child case management namely: 1. Knowledge in child case management, 2. Professional values of caseworkers towards children, 3. skills in managing cases, and 4. Culturally competence practice in child case managemenr. In addition, major challenges faced in the child case management are the capacity and commitment of the family in children's rehabilitation program, the credibility of the case worker are being challenge and challenges in support system from intra and inter-agency. This study is important for policy makers to take into account the capacity and needs of the child's case worker in accordance with national social work competency framework thereby improving case management services for children more systematically in line with national standards.Keywords: social work practice, child case management, competency-based knowledge, professionalism
Procedia PDF Downloads 33513478 An Assessment of the Writing Skills of Reflective Essay of Grade 10 Students in Selected Secondary Schools in Valenzuela City
Authors: Reynald Contreras, Shaina Marie Bho, Kate Roan Dela Cruz, Marvin Dela Cruz
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This study was conducted with the aim of determining the skill level of grade ten (Grade 10) students in writing a reflective essay in selected secondary schools of Valenzuela. This research used descriptive and qualitative-quantitative research methods to systematically and accurately describe the level of writing skills of students and used a convenient sampling technique in selecting forty (40) students in grade ten. (Grade 10) at Polo, Wawang Pulo, and Arkong Batong high schools with a total of one hundred and twenty (120) students to assess the written reflective essay using modified rubrics developed based on 6+1 writing traits by Ruth Culham. According to the findings of the study, students at Polo and Wawang Pulo National high schools have low levels of writing skills that need to be developed or are not proficient. Meanwhile, Arkong Bato National High School has achieved a high degree of writing proficiency. Based on the study's findings, the researchers devised a suggested curriculum mapping for the suggested activity or intervention activity that would aid in the development and cultivation of the writing skills of children in grade ten (Grade 10).Keywords: writing skills, reflective essay, intervention activity, 6+1 writing traits, modified rubrics
Procedia PDF Downloads 12213477 Understanding Knowledge, Skills and Competency Needs in Digital Health for Current and Future Health Workforce
Authors: Sisira Edirippulige
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Background: Digital health education and training (DHET) is imperative for preparing current and future clinicians to work competently in digitally enabled environments. Despite rapid integration of digital health in modern health services, systematic education and training opportunities for health workers is still lacking. Objectives: This study aimed to investigate healthcare professionals’ perspectives and expectations regarding the knowledge, skills and competency needs in digital health for current and future healthcare workforce. Methods: A qualitative study design with semi-structured individual interviews was employed. A purposive sample method was adopted to collect relevant information from the health workers. Inductive thematic analysis was used to analyse data. Interviews were audio-recorded and transcribed verbatim. Consolidated Criteria for Reporting Qualitative Research (COREQ) was followed when we reported this study. Results: Two themes emerged while analysing the data: (1) what to teach in DHET and (2) how to teach DHET. Overall, healthcare professionals agreed that DHET is important for preparing current and future clinicians for working competently in digitally enabled environments. Knowledge relating to what is digital health, types of digital health, use of technology and human factors in digital health were considered as important to be taught in DHET. Skills relating to digital health consultations, clinical information system management and remote monitoring were considered important to be taught. Blended learning which combined e-learning and classroom-based teaching, simulation sessions and clinical rotations were suggested by healthcare professionals as optimal approaches to deliver the above-mentioned content. Conclusions: This study is the first of its kind to investigate health professionals’ perspectives and expectations relating to the knowledge, skills and competency needs in digital health for current and future healthcare workforce. Healthcare workers are keen to acquire relevant knowledge, skills and competencies related to digital health. Different modes of education delivery is of interest to fit in with busy schedule of health workers.Keywords: digital health, telehealth, telemedicine, education, curriculum
Procedia PDF Downloads 149