Search results for: outward foreign direct investment

Authors: Nina Leila Mussa

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Background: The devastating effects of the war on Syria’s educational infrastructure has been widely reported, with millions of children denied access. However, among those who resettled in Lebanon, the impact of receiving educational assistance on their abilities to pass the English entrance exam is not well described. The aim of this study was to identify predictors of success among Syrian refugees receiving English language courses in a Lebanese university. Methods: The database of Syrian refugee girls matriculated in English courses at the American University of Beirut (AUB) was reviewed. The study period was 7/2018-09/2020. Variables compared included: family size and income, welfare status, parents’ education, English proficiency, access to the internet, and need for external help with homework. Results: For the study period, there were 28 girls enrolled. The average family size was 6 (range 4-9), with eight having completed primary, 14 secondary education, and 6 graduated high school. Eighteen were single-income families. After 12 weeks of English courses, 16 passed the Test of English as Foreign Language (TOEFL) from the first attempt, and 12 failed. Out of the 12, 8 received external help, and 6 passed on the second attempt, which brings the total number of successful passing to 22. Conclusion: Despite the tragedy of war, girls receiving assistance in learning English in Lebanon are able to pass the basic language test. Investment in enhancing those educational experiences will be determinantal in achieving widespread progress among those at-risk children.

Keywords: refugee girls, TOEFL, education, success

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Authors: Chidiebere Samuel Ijeoma

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The impact and importance of technology in all domains of existence cannot be overemphasized. It is like a double-edged sword which can be both constructive and destructive. The paper, therefore, tends to evaluate the impact of technology so far in the teaching and learning of French language in Nigeria. According to the study, the traditional methods of teaching French as a Foreign Language and recognized as our cultural methods of knowledge transfer are being fast replaced by digitalization in teaching. This, the research tends to portray and suggest the best way forward. In the Nigerian Primary Education System, the use of some local and cultural Instructional materials (teaching aids) is now almost history which the paper frowns at. Consequently, the study has these questions to ask?; Where are the chalks and blackboards? Where are the ‘Handworks’ (local brooms) submitted by school children as part of their Continuous Assessment? Finally, the research is in no way against the application of technology in the Nigerian French Language Teaching System but tries to draw a curtain between Technological methods of teaching French as a Foreign Language and the Original Nigerian System of teaching the language before the arrival of technology.

Keywords: French language teaching, future, impact, importance of technology

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Authors: Hong Zhang

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The main purpose of this study is to show that machine translation (MT) post-editing (PE) training can help our Chinese students learn Spanish as a second language. Our hypothesis is that they might make better use of it by learning PE skills specific for foreign language learning. We have developed PE training materials based on the data collected in a previous study. Training material included the special error types of the output of MT and the error types that our Chinese students studying Spanish could not detect in the experiment last year. This year we performed a pilot study in order to evaluate the PE training materials effectiveness and to what extent PE training helps Chinese students who study the Spanish language. We used screen recording to record these moments and made note of every action done by the students. Participants were speakers of Chinese with intermediate knowledge of Spanish. They were divided into two groups: Group A performed PE training and Group B did not. We prepared a Chinese text for both groups, and participants translated it by themselves (human translation), and then used Google Translate to translate the text and asked them to post-edit the raw MT output. Comparing the results of PE test, Group A could identify and correct the errors faster than Group B students, Group A did especially better in omission, word order, part of speech, terminology, mistranslation, official names, and formal register. From the results of this study, we can see that PE training can help Chinese students learn Spanish as a second language. In the future, we could focus on the students’ struggles during their Spanish studies and complete the PE training materials to teach Chinese students learning Spanish with machine translation.

Keywords: machine translation, post-editing, post-editing training, Chinese, Spanish, foreign language learning

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Authors: Ewon Kaliyadasa, U. L. B. Jayasinghe, S. E. Peiris

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Ashwagandha (Withania sominifera Duanal) is an important medicinal herb belongs to family Solanaceae. This plant has raised its popularity after discovering anti stress and sex stimulating properties that mainly due to the presence of biologically active alkaloid compounds. Therefore it is vital to adapt to a proper agro technological package that ensure optimum growth of ashwagandha to obtain the finest quality without degrading pharmacologically active constituents. Organic and inorganic fertilizer mixtures were combined with direct seeding and transplanting as four different treatments in this study. Tuber fresh and dry weights were recorded up to twelve months starting from two months after sowing (MAS) while shoot height, root length, number of leaves, shoot fresh and dry weights and root: shoot ratio up to 6MAS. Results revealed that growth of ashwagandha was not affected significantly by method of planting or type of fertilizer or its combinations during most of the harvests. However, tubers harvested at 6MAS recorded the highest dry tuber weight per plant in all four treatments compared to early harvests where two direct seeded treatments are the best. Chemical comparison of these two treatments, direct seeding coupled with organic and inorganic fertilizer shown that direct seeding with organic treatment recorded the highest values for alkaloid and withaferine A content with lower percentage of fiber. Further these values are in concurring with the values of commercially available tuber samples. Having considered all facts, 6MAS can be recommended as the best harvesting stage to obtain high quality tubers of ashwagandha under local conditions.

Keywords: alkaloids, direct seeding, dry tuber weight, inorganic fertilizer, organic fertilizer, transplanting, withaferine a

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Authors: Agnes Siwi Purwaning Tyas, Dewi Cahya Ambarwati

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This paper concerns the language learning that develops as a habit formation and a constructive process while exercising an oppressive power to construct the learners. As a locus of discussion, the investigation problematizes the transfer of English language to Indonesian students of junior high school through the use of English textbooks ‘Real Time: An Interactive English Course for Junior High School Students Year VII-IX’. English language has long performed as a global language and it is a demand upon the non-English native speakers to master the language if they desire to become internationally recognized individuals. Generally, English teachers teach the language in accordance with the nature of language learning in which they are trained and expected to teach the language within the culture of the target language. This provides a potential soft cultural penetration of a foreign ideology through language transmission. In the context of Indonesia, learning English as international language is considered dilemmatic. Most English textbooks in Indonesia incorporate cultural elements of the target language which in some extent may challenge the sensitivity towards local cultural values. On the other hand, local teachers demand more English textbooks for junior high school students which can facilitate cultural dissemination of both local and global values and promote learners’ cultural traits of both cultures to avoid misunderstanding and confusion. It also aims to support language learning as bidirectional process instead of instrument of oppression. However, sensitizing and localizing this foreign language is not sufficient to restrain its soft infiltration. In due course, domination persists making the English language as an authoritative language and positioning the locality as ‘the other’. Such critical premise has led to a discursive analysis referring to how the cultural elements of the target language are presented in the textbooks and whether the local characteristics of Indonesia are able to gradually reduce the degree of the foreign oppressive ideology. The three textbooks researched were written by non-Indonesian author edited by two Indonesia editors published by a local commercial publishing company, PT Erlangga. The analytical elaboration examines the cultural characteristics in the forms of names, terminologies, places, objects and imageries –not the linguistic aspect– of both cultural domains; English and Indonesia. Comparisons as well as categorizations were made to identify the cultural traits of each language and scrutinize the contextual analysis. In the analysis, 128 foreign elements and 27 local elements were found in textbook for grade VII, 132 foreign elements and 23 local elements were found in textbook for grade VIII, while 144 foreign elements and 35 local elements were found in grade IX textbook, demonstrating the unequal distribution of both cultures. Even though the ideal pedagogical approach of English learning moves to a different direction by the means of inserting local elements, the learners are continuously imposed to the culture of the target language and forced to internalize the concept of values under the influence of the target language which tend to marginalize their native culture.

Keywords: bidirectional process, English, local culture, oppression

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Authors: William Casto

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Studies that consider the actual impact of international law upon foreign affairs crises are flawed by an unrealistic model of decision making. The common, unexamined assumption is that a nation has a unitary executive or ruler who considers a wide variety of considerations, including international law, in attempting to resolve a crisis. To the extent that negotiation theory is considered, the focus is on negotiations between or among nations. The unsettling result is a shallow focus that concentrates on each country’s public posturing about international law. The country-to-country model ignores governments’ internal negotiations that lead to their formal position in a crisis. The model for foreign policy crises needs to be supplemented to include a model of internal negotiations. Important foreign policy decisions come from groups within a government committee, advisers, etc. Within these groups, participants may have differing agendas and resort to international law to bolster their positions. To understand the influence of international law in international crises, these internal negotiations must be considered. These negotiations are crucial to creating a foreign policy agenda or recommendations. External negotiations between the two nations are significant, but the internal negotiations provide a better understanding of the actual influence of international law upon international crises. Discovering the details of specific internal negotiations is quite difficult but not necessarily impossible. The present proposal will use a specific crisis to illustrate the role of international law. In 1861 during the American Civil War, a United States navy captain stopped a British mail ship and removed two ambassadors of the rebelling southern states. The result was what is commonly called the Trent Affair. In the wake of the captain’s unauthorized and rash action, Great Britain seriously considered going to war against the United States. A detailed analysis of the Trent Affair is possible using the available and extensive internal British correspondence and memoranda to reach an understanding of the effect of international law upon decision making. The extensive trove of internal British documents is particularly valuable because in 1861, the only effective means of communication was face-to-face or through letters. Telephones did not exist, and travel by horse and carriage was tedious. The British documents tell us how individual participants viewed the process. We can approach an accurate understanding of what actually happened as the British government strove to resolve the crisis. For example, British law officers initially concluded that the American captain’s rash act was permissible under international law. Later, the law officers revised their opinion. A model of internal negotiation is particularly valuable because it strips away nations’ public posturing about disputed international law principles. In internal decision making, there is room for meaningful debate over the relevant principles. This fluid debate tells how international law is used to develop a hard, public bargaining position. The Trent Affair indicates that international law had an actual influence upon the crisis and that law was not mere window dressing for the government’s public position.

Keywords: foreign affairs crises, negotiation, international law, Trent affair

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Authors: Tomoko Yaginuma, Rosa Cabecinhas

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Recently, the studies of the images about Japan and/or the Japanese people have been done in a Japanese language education context since the number of the students of Japanese as a Foreign Language (JFL) has been increasing worldwide, including in Portugal. It has been claimed that one of the reasons for this increase is the current popularity of Japanese pop-culture, namely anime (Japanese animations) and manga (Japanese visual novels), among young students. In the present study, the images about Japan and the Japanese held by JFL students in Portugal were examined by a questionnaire survey. The JFL students in higher education in Portugal (N=296) were asked to answer, among the other questions, their degree of agreement (using a Likert scale) with 24 pre-defined descriptions about the Japanese, which appear as relevant in a qualitative pilot study conducted before. The results show that the image of Japanese people by Portuguese JFL students is stressed around four dimensions: 1) diligence, 2) kindness, 3) conservativeness and 4) innovativeness. The students considered anime was the main source of information about the Japanese people and culture and anime was also strongly associated with the students’ interests in learning Japanese language.

Keywords: anime, cultural studies, images about Japan and Japanese people, Portugal

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Authors: K. Raghu, Altafhusen P. Pinjar

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Cold-formed steel section are extensively used in industry and many other non-industry constructions worldwide, it is relatively a new concept in India. Cold-formed steel sections have been developed as more economical building solutions to the alternative heavier hot-rolled sections in the commercial and residential markets. Cold‐formed steel (CFS) structural members are commonly manufactured with perforations to accommodate plumbing, electrical, and heating conduits in the walls and ceilings of buildings. Current design methods available to engineers for predicting the strength of CFS members with perforations are prescriptive and limited to specific perforation locations, spacing, and sizes. The Direct Strength Method (DSM), a relatively new design method for CFS members validated for members with and without perforations, predicts the ultimate strength of general CFS members with the elastic buckling properties of the member cross section. The design compression strength and flexural strength of Indian (IS 811-1987) standard sections is calculated as per North American Specification (AISI-S100 2007) and software CUFSM 4.05.

Keywords: direct strength, cold formed, perforations, CUFSM

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Authors: A. Yakub AbdurRaheem

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Urban violence in the form of ethnic and religious conflicts have been on the increase in many African cities in the recent years of which most of them are the result of intense and bitter competition for political power, the control of limited economic, social and environmental resources. In Nigeria, the emergence of the Boko Haram insurgency in most parts of the northeastern parts have ignited violence, bloodshed, refugee exodus and internal migration. Not only do the persistent attacks of the sect create widespread insecurity and fear, but it has also stifled normal processes of trade and investments most especially real property investment which is acclaimed to accelerate the economic cycle, thus the need to evolve strategies for an improved property market in such areas. This paper, therefore, examines the impact of this social crisis on effective and efficient utilization of real properties as a resource towards the development of the economy, using a descriptive analysis approach where particular emphasis was based on trends in residential housing values; volume of estimated property transactions and real estate investment decisions by affected individuals. Findings indicate that social crisis in the affected areas have been a clog on the wheels of property development and investment as properties worth hundreds of millions have been destroyed thereby having great impact on property values. Based on these findings, recommendations were made to include the need to strategically continue investing in property during such times, the need for Nigerian government to establish an active conflict monitoring and management unit for the prompt response, encourage community and neighborhood policing to ameliorate security challenges in Nigeria.

Keywords: social crisis, economy, resources, property market

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Authors: Selin Kara-Bahçekapılı, Bengisu Nehir Aydın

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Objective: In this study, it is aimed to examine the relationship between childhood traumas (overprotection-control, emotional/physical/sexual abuse, emotional/physical neglect), age, emotional regulation difficulties, and the tendency of violence in adults. In the study, the direct and indirect effects of 6 sub-factors of childhood traumas, emotion regulation difficulties, and age on tendency to violence are evaluated on a model that theoretically reveals. Method: The population of this cross-sectional study consists of individuals between the ages of 18-65 living in Turkey. The data from 527 participants were obtained by online surveys and convenience sampling method within the scope of the study. As a result of exclusion criteria and then outlier data analysis, the data of 443 participants were included in the analysis. Data were collected by demographic information form, childhood trauma scale, emotion regulation difficulty scale, and violence tendency scale. Research data were analyzed by SPSS and AMOS using correlation, path analysis, direct and indirect effects. Results: According to the research findings, the variables in the model explained 28.2% of the variance of the mean scores of the individuals' tendency to violence. Emotion regulation difficulties have the most direct effect on the tendency to violence (d=.387; p<.01). The effects of excessive protection and control, emotional neglect, and physical neglect variables on the tendency to violence are not significant. When the significant and indirect effects of the variables on tendency to violence over emotion regulation difficulties are examined, age has a negative effect, emotional neglect has a positive effect, emotional abuse has a positive effect, and overprotection-control has a positive effect. The indirect effects of sexual abuse, physical neglect, and physical abuse on tendency to violence are not significant. Childhood traumas and age variables in the model explained 24.1% of the variance of the mean scores of the individuals’ emotion regulation difficulties. The variable that most affects emotion regulation difficulties is age (d=-.268; p<.001). The direct effects of sexual abuse, physical neglect, and physical abuse on emotion regulation difficulties are not significant. Conclusion: The results of the research emphasize the critical role of difficulty in emotion regulation on the tendency to violence. Difficulty in emotion regulation affects the tendency to violence both directly and by mediating different variables. In addition, it is seen that some sub-factors of childhood traumas have direct and/or indirect effects on the tendency to violence. Emotional abuse and age have both direct and indirect effects on the tendency to violence over emotion regulation difficulties.

Keywords: childhood trauma, emotion regulation difficulties, tendency to violence, path analysis

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Authors: Carla Silva

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Recent development of information and communication technology enables us to acquire, collect, analyse data in various fields of socioeconomic – technological systems. Along with the increase of economic globalization and the evolution of information technology, data mining has become an important approach for economic data analysis. As a result, there has been a critical need for automated approaches to effective and efficient usage of massive amount of educational data, in order to support institutions to a strategic planning and investment decision-making. In this article, we will address data from several different perspectives and define the applied data to sciences. Many believe that 'big data' will transform business, government, and other aspects of the economy. We discuss how new data may impact educational policy and educational research. Large scale administrative data sets and proprietary private sector data can greatly improve the way we measure, track, and describe educational activity and educational impact. We also consider whether the big data predictive modeling tools that have emerged in statistics and computer science may prove useful in educational and furthermore in economics. Finally, we highlight a number of challenges and opportunities for future research.

Keywords: data mining, research analysis, investment decision-making, educational research

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Authors: Ibtisam Mohammed Salim Al Quraini

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This paper examines how introducing Omani literature in foreign language classrooms can influence the students' motivation in learning the language. The data was collected through the questionnaire which was administered to two samples (A and B) of the participants. Sample A was comprised of 30 female students from English department who are specialist in English literature in college of Arts and Social Science. Sample B in contrast was comprised of 10 female students who their major is English from college of Education. Results show that each genre in literature has different influence on the students' motivation in learning the language which proves that literacy texts are powerful. Generally, Omani English teachers tend to avoid teaching literature because they think that it is a difficult method to use in teaching field. However, the advantages and the influences of teaching poetries, short stories, and plays are discussed. Recommendations for current research and further research are also discussed at the end.

Keywords: education, plays, short stories, poems

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Authors: Fouad Berrabah, Saad Salah, Zaamouche Fares

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In this paper, the Direct Torque Control (DTC) Control and the Sliding Mode Control for induction motor are presented and compared. The performance of the two control schemes is evaluated in terms of torque and current ripple, and transient response to variations of the torque , speed and robustness, trajectory tracking. In order to identify the more suitable solution for any application, both techniques are analyzed mathematically and simulation results are compared which advantages and drawbacks are discussed.

Keywords: induction motor, DTC- MRAS control, sliding mode control, robustness, trajectory tracking

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Authors: Asmaa Shehata

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Prior research indicates that second language (L2) learners encounter difficulty in the distinguishing novel L2 contrasting sounds that are not contrastive in their native languages. L2 orthographic information, however, is found to play a positive role in the acquisition of non-native phoneme contrasts. While most studies have mainly involved a familiar written script (i.e., the Roman script), the influence of a foreign, unfamiliar script is still unknown. Therefore, the present study asks: Does unfamiliar L2 script play a role in creating distinct phonological representations of novel contrasting phonemes? It is predicted that subjects’ performance in the unfamiliar orthography group will outperform their counterparts’ performance in the control group. Thus, training that entails orthographic inputs can yield a significant improvement in L2 adult learners’ identification and lexical encoding of novel L2 consonant contrasts. Results are discussed in terms of their implications for the type of input introduced to L2 learners to improve their language learning.

Keywords: Arabic, consonant contrasts, foreign script, lexical encoding, orthography, word learning

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Authors: Tatiana Ivushkina

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The paper is aimed at studying the use of literary words of foreign origin in modern fiction from a sociolinguistic point of view, which presupposes establishing correlation between this category of words in a speech portrayal or narrative and a social status of the speaker, verifying that it bears social implications and serves as a social marker or index of socially privileged identity in the British literature of the 21-st century. To this end, there were selected literary words of foreign origin in context (60 contexts) and subjected to careful examination. The study is carried out on two novels by Jeffrey Archer – Not a Penny More, Not a Penny Less and A Prisoner of Birth – who, being a graduate from Oxford, represents socially privileged classes himself and gives a wide depiction of characters with different social backgrounds and statuses. The analysis of the novels enabled us to categorize the selected words into four relevant groups. The first represented by terms (commodity, debenture, recuperation, syringe, luminescence, umpire, etc.) serves to unambiguously indicate education, occupation, a field of knowledge in which a character is involved or a situation of communication. The second group is formed of words used in conjunction with their Germanic counterparts (perspiration – sweat, padre – priest, convivial – friendly) to contrast social position of the characters: literary words serving as social indices of upper class speakers whereas their synonyms of Germanic origin characterize middle or lower class speech portrayals. The third class of words comprises socially marked words (verbs, nouns, and adjectives), or U-words (the term first coined by Allan Ross and Nancy Mitford), the status acquired in the course of social history development (elegant, excellent, sophistication, authoritative, preposterous, etc.). The fourth includes words used in a humorous or ironic meaning to convey the narrator’s attitude to the characters or situation itself (ministrations, histrionic, etc.). Words of this group are perceived as 'alien', stylistically distant as they create incongruity between style and subject matter. Social implication of the selected words is enhanced by French words and phrases often accompanying them.

Keywords: British literature of the XXI century, literary words of foreign origin, social context, social meaning

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Authors: Behnam Habibi Dargah

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The economics of cost-benefit theory seeks to monitor claims and determine their final price. The cost of litigation is important because it is a measure of the efficiency of the justice system. From an economic point of view, the cost of litigation is considered to be the point of equilibrium of litigation, whereby litigation is regarded as a high-risk investment and is initiated when the costs are less than the probable and expected benefits. Costs are economically separated into private and social costs. Private cost includes material (direct and indirect) and spiritual costs. The social costs of litigation are also subsidized-centric due to the public and governmental nature of litigation and cover both types of bureaucratic bureaucracy and the costs of judicial misconduct. Macroeconomic policy in the economics of justice is the reverse engineering of controlling the social costs of litigation by employing selective litigation and working on the judicial culture to achieve rationality in the monopoly system. Procedures for controlling and managing court costs are also circumscribed to economic patterns in the field. Rational cost allocation model and cost transfer model. The rational allocation model deals with cost-tolerance systems, and the transfer model also considers three models of transferability, including legal, judicial and contractual transferability, which will be described and explored in the present article in a comparative manner.

Keywords: cost of litigation, economics of litigation, private cost, social cost, cost of litigation

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Authors: Rosa Nurtazina, Yerkebulan Zhumashov, Maral Tomanova

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Humanity is entering an era when 'virtual reality' as the image of the world created by the media with the help of the Internet does not match the reality in many respects, when new communication technologies create a fundamentally different and previously unknown 'global space'. According to these technologies, the state begins to change the basic technology of political communication of the state and society, the state and the state. Nowadays, image of the state becomes the most important tool and technology. Image is a purposefully created image granting political object (person, organization, country, etc.) certain social and political values and promoting more emotional perception. Political image of the state plays an important role in international relations. The success of the country's foreign policy, development of trade and economic relations with other countries depends on whether it is positive or negative. Foreign policy image has an impact on political processes taking place in the state: the negative image of the countries can be used by opposition forces as one of the arguments to criticize the government and its policies.

Keywords: image of the country, country's image classification, function of the country image, country's image components

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Authors: Sergio Luiz da Costa Junior, Carolina Fofonka Palomino, Paulo Cesar Lodi

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The use of light landfills is an effective solution for road works in soft ground sites, such as Rio de Janeiro (RJ) and Santos (SP) - the Southeastern Brazilian coast. The technique consists in replacing the topsoil by expandable polystyrene (EPS) geofoam, lined with geomembrane to prevent the attack of chemical products.Thus, knowing the interface shear strength of those materials is important in projects to avoid rupturing the system. The purpose of this paper is to compare the shear strength in the geomembrane-EPS interfaces by the direct shear test. The tests were performed under the dry and saturated condition, and four kind of high-density polyethylene (HDPE) 2,00mm geomembranes were used, smooth and texturized - manufactured in the flat die and blown film process. It was found that the shear strength is directly influenced by the roughness of the geomembrane, showed higher friction angle in the textured geomembrane. The direct shear test, in the saturated condition, also showed smaller friction angle than the now-wetted test.

Keywords: geofoam, geomembrane, soft ground, strength shear

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Authors: Anthony George Armiger II

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This paper focuses on the counternarcotic strategies of US government agencies in Afghanistan from 2001-2014. Despite a heavy US presence in the country, Afghanistan currently accounts for 80% of opium production worldwide and remains a key contributor to the global drug market. This paper argues that the divergent counternarcotic strategies of various US government agencies on the ground in Afghanistan are a product of the organizational differences amongst those agencies and that those differences can challenge the implementation of counternarcotics policies in Afghanistan. To gain a more in-depth perspective, this paper analyzes the counternarcotic strategies of two US government agencies in Afghanistan; the United States Department of Defense (DoD) and the Drug Enforcement Administration (DEA). Utilizing the framework of the organizational behavior model of organizational theory, this paper will highlight the varying organizational interests, opinions, standard operating procedures, and routines of both of the government agencies. The paper concludes with implications on counternarcotics, as well as the counterinsurgency in Afghanistan and provides recommendations for future research on foreign policy and counternarcotics.

Keywords: Afghanistan, drug policy, organizational theory, United States foreign policy

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Authors: Gaurav Gupta, Jitendra Mahakud

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This study focuses on the significance of internal financing constraints on the determination of corporate fixed investments in the case of Indian manufacturing companies. Financing constraints companies which have less internal fund or retained earnings face more transaction and borrowing costs due to imperfections in the capital market. The period of study is 1999-2000 to 2013-2014 and we consider 618 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test, and Hausman test results conclude the suitability of the fixed effect model for the estimation. The cash flow and liquidity of the company have been used as the proxies for the internal financial constraints. In accordance with various theories of corporate investments, we consider other firm specific variable like firm age, firm size, profitability, sales and leverage as the control variables in the model. From the econometric analysis, we find internal cash flow and liquidity have the significant and positive impact on the corporate investments. The variables like cost of capital, sales growth and growth opportunities are found to be significantly determining the corporate investments in India, which is consistent with the neoclassical, accelerator and Tobin’s q theory of corporate investment. To check the robustness of results, we divided the sample on the basis of cash flow and liquidity. Firms having cash flow greater than zero are put under one group, and firms with cash flow less than zero are put under another group. Also, the firms are divided on the basis of liquidity following the same approach. We find that the results are robust to both types of companies having positive and negative cash flow and liquidity. The results for other variables are also in the same line as we find for the whole sample. These findings confirm that internal financing constraints play a significant role for determination of corporate investment in India. The findings of this study have the implications for the corporate managers to focus on the projects having higher expected cash inflows to avoid the financing constraints. Apart from that, they should also maintain adequate liquidity to minimize the external financing costs.

Keywords: cash flow, corporate investment, financing constraints, panel data method

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Authors: Rika Uchida

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Claude Debussy's piano works can be divided into three categories in terms of style characteristics. The first category includes works which are strongly impressionistic, evoking a mood or an atmosphere, rather than making a direct, clear statement. These works often depict nature, and they are descriptive and sensitive in their character. Harmonic vocabulary is often complex, and the sense of tonality is often ambiguous in those works. Examples which belong to this category are ‘Clair de lune’ from Suite Bergamasque, Deux Arabesques, and ‘Reflets dans l'eau’ from Images Book 2. The second category shows little or no trace of impressionism. Works are not descriptive; rather, they are classical or absolute. Examples which belong to this category are Pour le Piano, ‘Hommage à Rameau’ and ‘Movement’ from Images Book 1 and Etudes. The third category can be called exotic. Debussy had a great interest in foreign lands such as the Far and Near East, and Spain. He employs pentatonic and quartal harmonies to describe the Orient, occasionally using the effect of the Javanese gamelan, which impressed him at the Paris Exhibition. His compositions in the Spanish style evoke the atmosphere of Spain. Though he borrowed some techniques from Spanish composers whom he knew, the tonal experimentation which occurs in these works sets them apart. Examples which belong to this category are ‘Pagodes’ and ‘la Soiree dans Grenade’ from Estampes, ‘la Puerta del Vino’ from Preludes Book 2.

Keywords: music, piano, Debussy, style

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Authors: Razan Salem

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Men and women have different approaches towards investing, both in terms of strategies and risk attitudes. This study aims to focus mainly on investigating the financial risk behaviors of Arab women investors and to examine the financial risk tolerance levels of Arab women relative to Arab men investors. Using survey data on 547 Arab men and women investors, the results of Wilcoxon Signed-Rank (One-Sample) test Mann-Whitney U test reveal that Arab women are risk-averse investors and have lower financial risk tolerance levels relative to Arab men. Such findings can be explained by the fact of women's nature and lower investment literacy levels. Further, the current political uncertainty in the Arab region may be considered as another explanation of Arab women’s risk aversion behavior. The study's findings support the existing literature by validating the stereotype of “women are more risk-averse than men” in the Arab region. Overall, when it comes to investment and financial behaviors, women around the world behave similarly.

Keywords: Arab region, culture, financial risk behavior, gender differences, women investors

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Authors: Enas R. Shouman

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Economic development with population growth is leading to a continuous increase in energy demand. At the same time, growing global concern for the environment is driving to decrease the use of conventional energy sources and to increase the use of renewable energy sources. The objective of this study is to present the market trends of solar energy photovoltaic technology over the world and to represent economics methods for PV financial analyzes on the basis of expectations for the expansion of PV in many applications. In the course of this study, detailed information about the current PV market was gathered and analyzed to find factors influencing the penetration of PV energy. The paper methodology depended on five relevant economic financial analysis methods that are often used for investment decisions maker. These methods are payback analysis, net benefit analysis, saving-to-investment ratio, adjusted internal rate of return, and life-cycle cost. The results of this study may be considered as a marketing guide that helps diffusion of using PV Energy. The study showed that PV cost is economically reliable. The consumers will pay higher purchase prices for PV system installation but will get lower electricity bill.

Keywords: photovoltaic, financial methods, solar energy, economics, PV panel

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Authors: Gassrm Alfaleh

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The new Law of Universities has many goals, one of them is how each university can be independent financially and educationally. Another goal is to open doors for foreign universities to open branches in the kingdom. This paper focuses on how these goals can create competition between local and foreign universities. And how this new law can bring significant changes in the Kingdom’s higher education sector. The methodology of this study is to compare the new Saudi law to another legal system, especially in Australia. And how this new law can affect the higher education environment and Saudi culture. It covers the view of other different legal jurisdictions and compares it to this new law. The major findings are that the new law of universities can give a chance to Saudi universities to achieve their goals based on empowerment, quality, and participate in developing the educational and research methods. It may allow universities to start their own resources, permit them to create endowments and companies, and may allow them to create their degrees and programs. It will help those universities to increase the efficiency of spending, developing financial resources, and human capabilities for universities in line with the Kingdom’s Vision 2030. As a result, this paper states whether this new law can improve higher education in the kingdom of Saudi Arabia.

Keywords: law, education, Saudi legal system, university

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Authors: Corina E. Niculaescu, Ivan Sangiorgi, Adrian R. Bell

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The COVID-19 pandemic has been life-changing in many aspects of people’s daily and social lives, but has it also changed attitudes towards investments? This paper explores the effect of the COVID-19 pandemic on retail investors’ levels of investments in the U.S. during the first COVID-19 wave in summer 2020. This is an unprecedented health crisis, which could lead to changes in investment behavior, including irrational behavior in retail investors. As such, this study aims to inform policymakers of what happened to investment decisions during the COVID-19 pandemic so that they can protect retail investors during extreme events like a global health crisis. The study aims to answer two research questions. First, was the level of investments affected by the COVID-19 pandemic, and if so, why? Second, how were investments affected by retail investors’ personal experience with COVID-19? The research analysis is based on primary survey data collected on the Amazon Mechanical Turk platform from a representative sample of U.S. respondents. Responses were collected between the 15th of July and 28th of August 2020 from 1,148 U.S. retail investors who hold mutual fund investments and a savings account. The research explores whether being affected by COVID-19, change in the level of savings, and risk capacity can explain the change in the level of investments by using regression analysis. The dependent variable is changed in investments measured as decrease, no change, and increase. For this reason, the methodology used is ordered probit regression models. The results show that retail investors in the U.S. increased their investments during the first wave of COVID-19, which is unexpected as investors are usually more cautious in crisis times. Moreover, the study finds that those who were affected personally by COVID-19 (e.g., tested positive) were more likely to increase their investments, which is irrational behavior and contradicts expectations. An increase in the level of savings and risk capacity was also associated with increased investments. Overall, the findings show that having personal experience with a health crisis can have an impact on one’s investment decisions as well. Those findings are important for both retail investors and policymakers, especially now that online trading platforms have made trading easily accessible to everyone. There are risks and potential irrational behaviors associated with investment decisions during times of crisis, and it is important that retail investors are aware of them before making financial decisions.

Keywords: COVID-19, financial decision-making, health crisis retail investors, survey

Procedia PDF Downloads 175

Authors: Terigele

Abstract:

Cultural products are always shelved into different classes of a hierarchy that separates so-called highbrow and lowbrow cultures. This study illustrated that audiences might even construct a hierarchy according to the origin countries when consuming certain products. Chinese audiences now have access to TV series from all around the world thanks to the internet. TV series from different origin countries show some particular features in terms of length, theme, plots, accessibility, seriousness etc. Their audiences were therefore stereotyped because of what they watch. Based on in-depth interviews with 20 participants, this research has following findings: 1) Most popular origin countries of foreign TV series in China are Korea, the United States, the United Kingdom, Japan and European countries in a descending order. Korean TV series are most popular because they are less serious and more accessible compared to others. 2) In the hierarchy of the TV series, European TV series stand on the top followed by British and American TV series. Japanese TV series are also categorized into highbrow class. Korean TV series are at the bottom and always seen as lowbrow cultural products. 3) Most audiences consume TV series from more than one origin countries and have different needs when watching them. Participants reported that they watch European TV series because those TV series are more artistic than their counterparts and of great quality. They watch British and American TV series mainly to improve their English and to learn about the culture. They find Japanese TV series very enjoyable with a large variety of themes and impressive lines. Audiences watch Korean TV series mostly to entertain and kill time. 4) Audiences do care about cultural taste. Especially those who watch European, British and American TV series usually tend to consider audiences who watch nothing but Korean TV series to be shallow. On the other hand, Korean TV series’ audiences seem to care less about the hierarchy of the TV series. Even when they discuss the hierarchy, they tend to accept the judgments with ironies and jokes. Future studies can dig deeply into the genre and content of TV series with different origin countries and also investigate more about the psychology of audiences regarding the gender, age, education, socioeconomic status etc.

Keywords: foreign TV series, hierarchy, popularity, uses and gratification

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Authors: Simon Huston, Ebraheim Lahbash, Ali Parsa

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The development of the United Arab Emirates (UAE) into a regional trade, tourism, finance and logistics hub has transformed its real estate markets. However, speculative activity and price volatility remain concerns. UAE residential market values (MV) are exposed to fluctuations in capital flows and migration which in turn are affected by geopolitical uncertainty, oil price volatility, and global investment market sentiment. Internally, a complex interplay between administrative boundaries, land tenure, building quality and evolving location characteristics fragments UAE residential property markets. In short, the UAE Residential Valuation System (UAE-RVS) confronts multiple challenges to collect, filter and analyze relevant information in complex and dynamic spatial and capital markets. A robust (RVS) can mitigate the risk of unhelpful volatility, speculative excess or investment mistakes. The research outlines the institutional, ontological, dynamic, and epistemological issues at play. We highlight the importance of system capabilities, valuation standard salience and stakeholders trust.

Keywords: valuation, property rights, information, institutions, trust, salience

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Authors: Sergey Podluzhnyy

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One of the most important tasks of investment and pension fund management is building decision support system which helps to make right decision on corporate bond portfolio formation. Today there are several basic methods of bond portfolio management. They are duration management, immunization and convexity management. Identified methods have serious disadvantage: they do not take into account credit risk or insolvency risk of issuer. So, identified methods can be applied only for management and evaluation of high-quality sovereign bonds. Applying article proposes mathematical model for building an optimal in case of risk and yield corporate bond portfolio. Proposed model takes into account the default probability in formula of assessment of bonds which results to more correct evaluation of bonds prices. Moreover, applied model provides tools for visualization of the efficient frontier of corporate bonds portfolio taking into account the exposure to credit risk, which will increase the quality of the investment decisions of portfolio managers.

Keywords: corporate bond portfolio, default probability, effective boundary, portfolio optimization task

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Authors: Kouzi Katia

Abstract:

This paper proposes a Direct Torque Control (DTC) algorithm of dual Stator Induction Motor (DSIM) drive using two approach intelligent techniques: Artificial Neural Network (ANN) approach replaces the switching table selector block of conventional DTC and Mamdani Fuzzy Logic controller (FLC) is used for stator resistance estimation. The fuzzy estimation method is based on an online stator resistance correction through the variations of stator current estimation error and its variation. The fuzzy logic controller gives the future stator resistance increment at the output. The main advantage of suggested algorithm control is to reduce the hardware complexity of conventional selectors, to avoid the drive instability that may occur in certain situation and ensure the tracking of the actual of the stator resistance. The effectiveness of the technique and the improvement of the whole system performance are proved by results.

Keywords: artificial neural network, direct torque control, dual stator induction motor, fuzzy logic estimator, switching table

Procedia PDF Downloads 329

Authors: Israt Jahan Eshita

Abstract:

Flows developed between two parallel disks have many engineering applications. Two types of non-swirling flows can be generated in such a domain. One is purely source flow in disc type domain (outward flow). Other is purely sink flow in disc type domain (inward flow). This situation often appears in some turbo machinery components such as air bearings, heat exchanger, radial diffuser, vortex gyroscope, disc valves, and viscosity meters. The main goal of this paper is to show the mesh convergence, because mesh convergence saves time, and economical to run and increase the efficiency of modeling for both sink and source flow. Then flow field is resolved using a very fine mesh near-wall, using enhanced wall treatment. After that we are going to compare this flow using standard k-epsilon, RNG k-epsilon turbulence models. Lastly compare some experimental data with numerical solution for sink flow. The good agreement of numerical solution with the experimental works validates the current modeling.

Keywords: hydraulic diameter, k-epsilon model, meshes convergence, Reynolds number, RNG model, sink flow, source flow, wall y+

Procedia PDF Downloads 521