Search results for: panel regressions

Authors: Xu Wang

Abstract:

This research builds linear regressions of U.S. macroeconomic condition and volatility measures in the investment grade and high yield Credit Default Swap index spreads using monthly data from March 2009 to July 2016, to study the relationship between different dimensions of macroeconomy and overall credit risk quality. The most significant contribution of this research is systematically examining individual and joint effects of macroeconomic condition and volatility on CDX spreads by including macroeconomic time series that captures different dimensions of the U.S. economy. The industrial production index growth, non-farm payroll growth, consumer price index growth, 3-month treasury rate and consumer sentiment are introduced to capture the condition of real economic activity, employment, inflation, monetary policy and risk aversion respectively. The conditional variance of the macroeconomic series is constructed using ARMA-GARCH model and is used to measure macroeconomic volatility. The linear regression model is conducted to capture relationships between monthly average CDX spreads and macroeconomic variables. The Newey–West estimator is used to control for autocorrelation and heteroskedasticity in error terms. Furthermore, the sensitivity factor analysis and standardized coefficients analysis are conducted to compare the sensitivity of CDX spreads to different macroeconomic variables and to compare relative effects of macroeconomic condition versus macroeconomic uncertainty respectively. This research shows that macroeconomic condition can have a negative effect on CDX spread while macroeconomic volatility has a positive effect on determining CDX spread. Macroeconomic condition and volatility variables can jointly explain more than 70% of the whole variation of the CDX spread. In addition, sensitivity factor analysis shows that the CDX spread is the most sensitive to Consumer Sentiment index. Finally, the standardized coefficients analysis shows that both macroeconomic condition and volatility variables are important in determining CDX spread but macroeconomic condition category of variables have more relative importance in determining CDX spread than macroeconomic volatility category of variables. This research shows that the CDX spread can reflect the individual and joint effects of macroeconomic condition and volatility, which suggests that individual investors or government should carefully regard CDX spread as a measure of overall credit risk because the CDX spread is influenced by macroeconomy. In addition, the significance of macroeconomic condition and volatility variables, such as Non-farm Payroll growth rate and Industrial Production Index growth volatility suggests that the government, should pay more attention to the overall credit quality in the market when macroecnomy is low or volatile.

Keywords: autoregressive moving average model, credit spread puzzle, credit default swap spread, generalized autoregressive conditional heteroskedasticity model, macroeconomic conditions, macroeconomic uncertainty

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Authors: Soumendu Monia, Vaibhav Jain, Hrishikesh Jugade, Manashi Adhikary, Goutam Mukhopadhyay

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'Rolled in scale' (RIS) and 'Rolled in Scum' (RISc) are two superficial surface defects on cold rolled and annealed steel sheets which affect the aesthetics of surface and thereby that of the end-product. Both the defects are believed to be originating from distinctly different sources having different mechanisms of formation. However, due to their similar physical appearance, RIS and RISc are generally confused with each other and hence attaining the exact root cause for elimination of the defect becomes difficult. RIS appears irregular in shape, sometimes scattered, and always oriented in rolling direction. RISc is generally oval shaped, having identifiable pointed edges and mostly oriented in rolling direction. Visually, RIS appears to be greyish in colour whereas RISc is whitish in colour. Both the defects have quite random occurrence and do not leave any imprints on the reverse-side of the sheet. In the current study, an attempt has been made to differentiate these two similar looking surface defects using various metallographic and characterization techniques. Systematic experiments have been carried out to identify possible mechanisms of formation of these defects. Detailed characterization revealed basic differences between RIS and RISc with respect to their surface morphology. To summarize, RIS was observed as a residue of an otherwise under-pickled scale patch on surface, after it has been subjected to cold rolling and annealing in a batch/continuous furnace. Whereas RISc was found to be a localized rubbing of the surface, at the time of cold rolling itself, resulting in a rough surface texture.

Keywords: annealing, rolled in scale, rolled in scum, skin panel

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Authors: Feng Ji Mervin Goh, Edmund Chee Jian Pua, Stuart Alexander Cook

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Dilated cardiomyopathy (DCM) is a common cause of heart failure. Genetic mutations account for 50% of DCM cases with TTN mutations being the most common, accounting for up to 25% of DCM cases. However, the genetic architecture underlying Asian DCM patients is unknown. We evaluated 68 patients (female= 17) with DCM who underwent follow-up at the National Heart Centre, Singapore from 2013 through 2014. Clinical data were obtained and analyzed retrospectively. Genomic DNA was subjected to next-generation targeted sequencing. Nextera Rapid Capture Enrichment was used to capture the exons of a panel of 169 cardiac genes. DNA libraries were sequenced as paired-end 150-bp reads on Illumina MiSeq. Raw sequence reads were processed and analysed using standard bioinformatics techniques. The average age of onset of DCM was 46.1±10.21 years old. The average left ventricular ejection fraction (LVEF), left ventricular diastolic internal diameter (LVIDd), left ventricular systolic internal diameter (LVIDs) were 26.1±11.2%, 6.20±0.83cm, and 5.23±0.92cm respectively. The frequencies of mutations in major DCM-associated genes were as follows TTN (5.88% vs published frequency of 20%), LMNA (4.41% vs 6%), MYH7 (5.88% vs 4%), MYH6 (5.88% vs 4%), and SCN5a (4.41% vs 3%). The average callability at 10 times coverage of each major gene were: TTN (99.7%), LMNA (87.1%), MYH7 (94.8%), MYH6 (95.5%), and SCN5a (94.3%). In conclusion, TTN mutations are not common in Singaporean DCM patients. The frequencies of other major DCM-associated genes are comparable to frequencies published in the current literature.

Keywords: heart failure, dilated cardiomyopathy, genetics, next-generation sequencing

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Authors: Rosa S. Wong, Keith T. S. Tung, Frederick K. Ho, Winnie W. Y. Tso, King-wa Fu, Nirmala Rao, Patrick Ip

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As technology advances, exposures in early childhood are no longer confined to stimulations in the surrounding physical environments. Children nowadays are also subject to influences from the digital world. In particular, early access to game consoles can cause risks to child development, especially when the game is not developmentally appropriate for young children. Overstimulation is possible and could impair brain development. On the other hand, recreational parent-child activities, including outdoor activities and visits to museums, require child interaction with parents, which is beneficial for developing adaptive emotion regulation and social skills. Given the differences between these two types of exposures, this study investigated and compared the independent effects of early exposure to a game console and early play-based parent-child activities on children’s long-term psychosocial outcomes. This study used data from a subset of children (n=304, 142 male and 162 female) in the longitudinal cohort study, which studied the long-term impact of family socioeconomic status on child development. In 2012/13, we recruited a group of children at Kindergarten 3 (K3) randomly from Hong Kong local kindergartens and collected data regarding their duration of exposure to game console and recreational parent-child activities at that time. In 2018/19, we re-surveyed the parents of these children who were matriculated as Form 1 (F1) students (ages ranging from 11 to 13 years) in secondary schools and asked the parents to rate their children’s psychosocial problems in F1. Linear regressions were conducted to examine the associations between early exposures and adolescent psychosocial problems with and without adjustment for child gender and K3 family socioeconomic status. On average, K3 children spent about 42 minutes on a game console every day and had 2-3 recreational activities with their parents every week. Univariate analyses showed that more time spent on game consoles at K3 was associated with more psychosocial difficulties in F1 particularly more externalizing problems. The effect of early exposure to game console on externalizing behavior remained significant (B=0.59, 95%CI: 0.15 to 1.03, p=0.009) after adjusting for recreational parent-child activities and child gender. For recreational parent-child activities at K3, its effect on overall psychosocial difficulties became insignificant after adjusting for early exposure to game consoles and child gender. However, it was found to have significant protective effect on externalizing problems (B=-0.65, 95%CI: -1.23 to -0.07, p=0.028) even after adjusting for the confounders. Early exposure to game consoles has negative impact on children’s psychosocial health, whereas play-based parent-child activities can foster positive psychosocial outcomes. More efforts should be directed to propagate the risks and benefits of these activities and urge the parents and caregivers to replace child-alone screen time with parent-child play time in daily routine.

Keywords: early childhood, electronic device, parenting, psychosocial wellbeing

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Authors: Noa Nelson, Meitar Moshe, Dana Cohen

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Work-family conflict (WFC) is a significant source of stress for contemporary employees, with research indicating its heightened severity for women. The conservation of resources theory argues that individuals experience stress when their resources fall short of demands, and attempt to reach balance by obtaining resources. Presumably then, to achieve work-family balance women would need to negotiate for resources such as spouse support, employer support and work flexibility. The current research tested the hypotheses that competent negotiation at home and at work associated with increased family and job resources and with decreased WFC, as well as with higher work, marital and life satisfaction. In the first study, 113 employed mothers, married or cohabiting, reported to what extent they conducted satisfactory negotiation with spouse over division of housework, and their actual housework load compared to spouse. They answered a WFC questionnaire, measuring how much work interferes with family (WIF) and how much family interferes with work (FIW), and finally, measurements of satisfaction. In the second study, 94 employed mothers, married or cohabiting reported to what extent they conducted satisfactory negotiation with their boss over balancing work demands with family needs. They reported the levels of three job resources: flexibility, control and family-friendly organizational culture. Finally, they answered the same WFC and satisfaction measurements from study 1. Statistical analyses –t-tests, correlations, and hierarchical linear regressions- showed that in both studies, women reported higher WIF than FIW. Negotiations associated with increased resources: support from spouse, work flexibility and control and a family-friendly culture; negotiation with spouse associated also with satisfaction measurements. However, negotiations or resources (except family-friendly culture) did not associate with reduced conflict. The studies demonstrate the role of negotiation in obtaining family and job resources. Causation cannot be determined, but the fact is that employed mothers who enjoyed more support (at both home and work), flexibility and control, were more likely to keep active interactions to increase them. This finding has theoretical and practical implications, especially in view of research on female avoidance of negotiation. It is intriguing that negotiations and resources generally did not associate with reduced WFC. This finding might reflect the severity of the conflict, especially of work interfering with family, which characterizes many contemporary jobs. It might also suggest that employed mothers have high expectations from themselves, and even under supportive circumstances, experience the challenge of balancing two significant and demanding roles. The research contributes to the fields of negotiation, gender, and work-life balance. It calls for further studies, to test its model in additional populations and validate the role employees have in actively negotiating for the balance that they need. It also calls for further research to understand the contributions of job and family resources to reducing work-family conflict, and the circumstances under which they contribute.

Keywords: sork-family conflict, work-life balance, negotiation, gender, job resources, family resources

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Authors: Mohammad Abdullah Almalki

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Background: Despite the frequent usage of ankle arthroscopy, there is limited medical literature regarding its indications, patterns of admissions, surgical outcomes, and associated complicated at Saudi Arabia. Hence, this study would highlight the surgical outcomes of such surgical approach that will assist orthopedic surgeons to detect which surgical procedure needs to be done as well as to help them regarding their diagnostic workups. Methods: At the Orthopedic Division of King Abdul‑Aziz Medical City in Riyadh and through a cross‑sectional design and convenient sampling techniques, the present study had recruited 20 subjects who fulfill the inclusion and exclusion criteria between 2016 and 2018. Data collection was carried out by a questionnaire designed and revised by an expert panel of health professionals. Results: Twenty patients were reviewed (11M and 9F) with an average age of 40.1 ± 12.2. Only 30% of the patients (5M, 1F) have no comorbidity, but 70% of patients (7M, 8F) were having at least one comorbidity. The most common indications were osteochondritis dissecans (n = 7, 35%), ankle fracture without dislocation (n = 4, 20%), and tibiotalar impingement (n = 3, 15%). Patients recorded pain in all cases (100%). The top four symptoms after pain were instability (30%, n = 6), muscle weakness (15%, n = 3) swelling (15%, n = 3), and stiffness (5%, n = 1). Two‑third of cases reached to their full healthy status and toe‑touch weight‑bearing was seen in two patients (10%). Conclusion: Ankle arthroscopy improved the rehabilitation rates in our tertiary care center. In addition, the surgical outcomes are favorable in our hospital since it has a very short length of stay, unexpended surgery, and fewest physiotherapy sessions.

Keywords: ankle, arthroscopy, indications, patterns

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Authors: Olga Blagova, Yuliya Osipova, Evgeniya Kogan, Alexander Nedostup

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Purpose: to quantify the value of various clinical, laboratory and instrumental signs in the diagnosis of myocarditis in comparison with morphological studies of the myocardium. Methods: in 100 patients (65 men, 44.7±12.5 years) with «idiopathic» arrhythmias (n = 20) and dilated cardiomyopathy (DCM, n = 80) were performed 71 endomyocardial biopsy (EMB), 13 intraoperative biopsy, 5 study of explanted hearts, 11 autopsy with virus investigation (real-time PCR) of the blood and myocardium. Anti-heart antibodies (AHA) were also measured as well as cardiac CT (n = 45), MRI (n = 25), coronary angiography (n = 47). The comparison group included of 50 patients (25 men, 53.7±11.7 years) with non-inflammatory heart diseases who underwent open heart surgery. Results. Active/borderline myocarditis was diagnosed in 76.0% of the study group and in 21.6% of patients of the comparison group (p < 0.001). The myocardial viral genome was observed more frequently in patients of comparison group than in study group (group (65.0% and 40.2%; p < 0.01. Evaluated the diagnostic value of noninvasive markers of myocarditis. The panel of anti-heart antibodies had the greatest importance to identify myocarditis: sensitivity was 81.5%, positive and negative predictive value was 75.0 and 60.5%. It is defined diagnostic value of non-invasive markers of myocarditis and diagnostic algorithm providing an individual assessment of the likelihood of myocarditis is developed. Conclusion. The greatest significance in the diagnosis of latent myocarditis in patients with 'idiopathic' arrhythmias and DCM have AHA. The use of complex of noninvasive criteria allows estimate the probability of myocarditis and determine the indications for EMB.

Keywords: myocarditis, "idiopathic" arrhythmias, dilated cardiomyopathy, endomyocardial biopsy, viral genome, anti-heart antibodies

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Authors: Hyang Lim, Sungwon Choi

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Many previous studies in area of adolescents' depression have used a longitudinal design. The previous studies have found that the developmental trajectory of them is only one. But it needs to be examined whether the trajectory is applied to all adolescents. Some factors in their home and/or school have an effect on adolescents' depression and more likely to be specific groups. The present study was a longitudinal study aimed to identify the trajectories and to explore the predictors of adolescents' depression. The study used Korean Children and Youth Panel Survey (KCYPS) data. In this study, 2,351 second and third-year of middle school and first of high school students' data was analyzed by using semi-parametric group modeling (SGM). There were 5 trajectory groups for adolescents; low depressed stables, low depressed risers, moderately depressed decreases, moderately depressed stables, severe depressed decreases. The predictors of adolescents' depression were parental abuse, parental neglect, annual family income, parental academic background, friendship at school, and teacher-student relationship at school. All predictors had the significant difference across trajectory group profile for adolescents. The findings of the present study recommend to promote the socioeconomic status and to train social skill for the interpersonal relationship at the home and school. And the results suggest that the proper prevention programs for each group in the middle adolescents that target selected factors may be helpful in reducing the level of depression.

Keywords: adolescent, depression, KCYPS, school life, semi-parametric group-based modeling

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Authors: Wasfi Al Salamat, Shaker Al-Kharouf

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This study aims to examine the determinants of financial stability for 13 commercial banks listed on the Amman stock exchange (ASE) over the period (2007-2016) after controlling for the independent variables: return on equity (ROE), return on assets (ROA), earnings per share (EPS), growth in gross domestic product (GDP), inflation rate and debt ratio to measure the financial stability by three main variables: capital adequacy, non-performing loans and the number of returned checks. The balanced panel data statistical approach has been used for data analysis. Results are estimated by using multiple regression models. The empirical results suggested that there is statistically significant negative effect of inflation rate and debt ratio on the capital adequacy while there is statistically significant positive effect of growth in gross domestic product on capital adequacy. In contrast, there is statistically significant negative effect of return on equity and growth in gross domestic product on the non-performing loans while there is statistically significant positive effect of inflation rate on non-performing loans. Finally, there is statistically significant negative effect of growth in gross domestic product on the number of returned checks while there is statistically significant positive effect of inflation rate on the number of returned checks.

Keywords: capital adequacy, financial stability, non-performing loans, number of returned checks, ASE

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Authors: Sana Masmoudi Mardassi, Yosra Makni Fourati

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Regulators highlight the importance of the Audit Committee (AC) as a key internal corporate governance mechanism. One of the most important roles of this committee is to oversee the financial reporting process. The purpose of this paper is to examine the link between the characteristics of an audit committee and the financial reporting quality by investigating whether the characteristics of audit committees are associated with improved financial reporting quality, especially the Real Earnings Management. In the current study, a panel data from 80 nonfinancial companies listed on the Amsterdam Stock Exchange during the period between 2010 and 2017 were used. To measure audit committee characteristics, four proxies have been used, specifically, audit committee independence, financial expertise, gender diversity and AC meetings. For this research, a linear regression model was used to identify the influence of a set of board characteristics of the audit committee on real earnings management after controlling for firm audit committee size, leverage, size, loss, growth and board size. This research provides empirical evidence of the association between audit committee independence, financial expertise, gender diversity and meetings and Real Earnings Management (REM) as a proxy of financial reporting quality. The study finds that independence and AC Gender diversity are strongly related to financial reporting quality. In fact, these two characteristics constrain REM. The results also suggest that AC- financial expertise reduces to some extent, the likelihood of engaging in REM. These conclusions provide support then to the audit committee requirement under the Dutch Corporate Governance Code rules regarding gender diversity and AC meetings.

Keywords: audit committee, financial expertise, independence, real earnings management

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Authors: Paraskevi Liosatou

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Climate change is considered to be of global concern being amplified by the fact that by its nature, cannot be spatially limited. This fact makes necessary the intergovernmental decision-making procedures. In the intergovernmental level, the institutions such as the United Nations Framework Convention on Climate Change and the Intergovernmental Panel on Climate Change develop efforts, methods, and practices in order to plan and suggest climate mitigation and adaptation measures. These measures are based on specific scientific findings and methods making clear the strong connection between science and policy. In particular, these scientific recommendations offer a series of practices, methods, and choices mitigating the problem by aiming at the indirect mitigation of the causes and the factors amplifying climate change. Moreover, modern production and economic context do not take into consideration the social, political, environmental and spatial dimensions of the problem. This work studies the decision-making process working in international and European level. In this context, this work considers the policy tools that have been implemented by various intergovernmental organizations. The methodology followed is based mainly on the critical study of standards and process concerning the connections and cooperation between science and policy as well as considering the skeptic debates developed. The finding of this work focuses on the links between science and policy developed by the institutional and scientific mechanisms concerning climate change mitigation. It also analyses the dimensions and the factors of the science-policy framework; in this way, it points out the causes that maintain skepticism in current scientific circles.

Keywords: climate change, climate change mitigation, climate change skepticism, IPCC, skepticism

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Authors: Rabeab Khunpukdee, Aranya Sukchoui, Nonluk Somgit, Chitima Bunnaul

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Endotracheal displacement is a major risk of life threatening among critically ill patients. Standard nursing protocol is needed to minimize this risk and to improve clinical outcomes. To evaluate the effectiveness of the endothacheal care nursing guideline. The incidence rates of endochacheal displacement, oxygen deficiency after extubation, re-intubation, and nurse’s satisfaction on the utilization of the endotracheal care nursing guideline. An evidence-based nursing practice framework was used to develop the endotracheal care nursing guideline. The guideline valid content was review by a 3 panel of experts. The index of item objective (IOC) of the guideline was 0.93. The guideline was implemented in 130 patients (guideline group) and 19 registered nurses at a medicine ward, Had Yai hospital, Thailand. Patient’s outcomes were evaluated by comparison with those 155 patients who received the routine nursing care (routine care group). Descriptive statistics, frequency, percentage, mean, standard deviation and Mann Whitney U-test was analyzed using the computer program. All significantly and better outcomes were found in the guideline group compared to the routine care group. The guideline group has less incidence rates of endotracheal displacement (1.54 % vs 9.03 %, p < 0.05), and none of the guideline group had oxygen deficiency after extubation (0 % vs 83.33%) compared to the routine care group. All of the 2 patients in the guideline group, compared to 6 of 14 patients in the routine care group were re-intubation. The overall rate of re-intubation in the total group (n = 130 vs 155) was seen less in the guideline group than the routine care group (1.54 % vs 3.87). Overall, nurses satisfaction was at high-level (89.50%) on the utilization of the guideline.

Keywords: endotracheal care, nursing guideline, re-intubation, satisfaction

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Authors: Mehrzad Soltani, Pegah Rezaei

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In the endeavor to construct cities that are not only thriving but also environmentally responsible, effective urban planning and architectural design assume paramount significance. The focal point of this pursuit is the harnessing of urban renewable energy. By embracing sustainable practices such as the integration of solar panels into the urban landscape and the establishment of smart grids, cities are poised to confront head-on the dual challenge of surging energy demands and pressing environmental concerns. Urban renewable energy solutions offer a multifaceted approach to these issues. Firstly, they usher in a clean and sustainable source of energy, reducing the cities' ecological footprint while ensuring a continuous power supply. This transition to eco-friendly energy is also intrinsically linked to enhanced spatial utilization, thereby streamlining the efficiency of urban areas. Moreover, it spurs the adoption of sustainable transportation alternatives, diminishing the reliance on fossil fuels and mitigating air pollution. However, the significance of integrating renewable energy solutions transcends the realm of urban sustainability. It embodies a holistic approach towards creating cities that harmoniously coexist with the natural environment while catering to the needs and aspirations of their inhabitants. In essence, prioritizing sustainability in urban planning and architectural design has evolved from a choice to a necessity, one that not only safeguards the cities' well-being but also fosters a better quality of life for their residents. Thus, it is imperative that we acknowledge the transformative potential of these innovations as we pave the way towards the cities of the future.

Keywords: sustainability, smart grids, solar panel, urban planning, environmental concerns

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Authors: Sarina Zainab Shirazi

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Abstract— With the advent of globalization, different countries have liberalized their trade policies to enhance economic integration and developmental processes but the advantages accrued vary greatly from region to region. This study specifically examines European Union (EU) and Association for South East Asian Nations (ASEAN), two regions that show contrasting integration patterns. EU shows most successful integrations versus the slower paced integration in the ASEAN region. A comprehensive panel data empirical investigation of EU and ASEAN in the context of economy size, geographical distances, language, ethnicity, common border and regional trade agreements (RTA) is conducted for a period of 1985 – 2015. The empirical investigation through the augmented gravity equation shows that the real effectiveness for enhanced intra-regional trade is significant when specific examination of export and import components is conducted in the presence of non-tariff barriers. These barriers surface in the form of terms of trade openness, inflation, exchange rate, common borders, common language, ethnic similarity, and presence of a formal regional trade agreement (RTA). Thus, these factors can be utilized by the EU and ASEAN regions in order to formulate effective policy tools to enhance trade within their respective spheres of influence.

Keywords: Association for South East Asian Nations, European Union, Gravity Model, Regional Trade

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Authors: Seyedomid Fatemi

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The walls of the building, as the main intermediary between the outside and the inside of the building, play an important role in controlling the environmental conditions and ensuring the comfort of the residents, thus reducing the heating and cooling loads. Therefore, the use of suitable materials is considered one of the simplest and most effective ways to reduce the heating and cooling loads of the building, which will also save energy. Therefore, in order to achieve the goal of the research "Ranking of optimal materials for building walls," optimal materials for building walls in a temperate and humid climate (case example: Sari city) from the perspective of embodied energy, waste of electricity and gas energy, cost and reuse been investigated to achieve sustainable architecture. In this regard, using information obtained from Sari Municipality, design components have been presented by experts using the Delphi method. Considering the criteria of experts' opinions (cost and reuse), the amount of embodied energy of the materials, as well as the amount of waste of electricity and gas of different materials of the walls, with the help of the AHP weighting technique and finally with the TOPSIS technique, the best type of materials in the order of 1- 3-D Panel 2-ICF-, 3-Cement block with pumice, 4-Wallcrete block, 5-Clay block, 6-Autoclaved Aerated Concrete (AAC), 7-Foam cement block, 8-Aquapanel and 9-Reinforced concrete wall for use in The walls of the buildings were proposed in Sari city.

Keywords: optimum materials, building walls, moderate and humid climate, sustainable architecture, AHP-TOPSIS technique

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Authors: Amani Aljahani

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The purpose of the study was to identify the physical and chemical properties of pomegranate juices and to evaluate their sensory quality. The samples were collected from the local markets and included four types of pomegranate produced in the western and southern region of the kingdom. The juices were extracted by manual squeezing and by centrifugal force. The juices were analyzed periodically for their content of organic acids, total acidity, glucose and fructose, total sugars, and the anthosianine. A panel of 30 judges evaluated the juices for their color, smell, taste, consistency and general acceptance using a prepared scale for that purpose. Result showed that pomegranate juices were acidic in nature (PH between 3.56–4.27). The major organic acids were citric, tartaric, malic, and oxalic aids total organic acidity was between 596.32–763.49 ng/100 ml and increased over storage time, however; total acidity almost stable over time except for the southern produced. The major monosaccharide's in pomegranate juices were glucose and fructose. Their concentration in the juice varied by storage. On the average glucose concentration was between 6.68–7.71 g/100 ml while fructose concentration was between 6.72–7.98 g/100 ml. total sugars content was 16% on the average and dropped by storage. Anthosianine concertration increased after five hours of storage then dropped and stabilized over time regardless of method of treatment. In addition, sensory evaluation of the juices showed general acceptance of them as of color, flavor, and constercy but the preferred one was with that of the western kind extracted by squeezing.

Keywords: extracting, pomegranate, juice, quality

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Authors: Aparna Radhakrishnan, Jancy Gupta, R. Dileepkumar

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This paper aims at assessing the Socio Economic Vulnerability (SEV) of dairy farmers to Climate Variability and Change (CVC) in 3 states of Western Ghat region in India. For this purpose, a composite SEV index has been developed on the basis of functional relationships amongst sensitivity, exposure and adaptive capacity using 30 indicators related to dairy farming underlying the principles of Intergovernmental Panel on Climate Change and Fussel framework for nomenclature of vulnerable situation. Household level data were collected through Participatory Rural Appraisal and personal interviews of 540 dairy farmers of nine taluks, three each from a district selected from Kerala, Karnataka and Maharashtra, complemented by thirty years of gridded weather data. The data were normalized and then combined into three indices for sensitivity, exposure and adaptive capacity, which were then averaged with weights given using principal component analysis, to obtain the overall SEV index. Results indicated that the taluks of Western Ghats are vulnerable to CVC. The dairy farmers of Pulpally taluka were most vulnerable having the SEV score +1.24 and 42.66% farmers under high-level vulnerability category. Even though the taluks are geographically closer, there is wide variation in SEV components. Policies for incentivizing the ‘climate risk adaptation’ costs for small and marginal farmers and livelihood infrastructure for mitigating risks and promoting grass root level innovations are necessary to sustain dairy farming of the region.

Keywords: climate change, dairy, vulnerability, livelihoods, adaptation strategies

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Authors: Iqraq Kamal, Akmal Razif, Sivadas Chandra Sekaran, Ahmad Syazwan Hisaburi

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Painting plays a crucial role in the aerospace manufacturing industry, serving both protective and cosmetic purposes for components. However, the traditional manual painting method is time-consuming and labor-intensive, posing challenges for the sector in achieving higher efficiency. Additionally, the current automated robot path planning has been a bottleneck for spray painting processes, as typical manual teaching methods are time-consuming, error-prone, and skill-dependent. Therefore, it is essential to develop automated tool path planning methods to replace manual ones, reducing costs and improving product quality. Focusing on flat panel painting in aerospace manufacturing, this study aims to address issues related to unreliable part identification techniques caused by the high-mixture, low-volume nature of the industry. The proposed solution involves using a spray gun and a UR10 robotic arm with a vision system that utilizes one-shot object detection (OS2D) to identify parts accurately. Additionally, the research optimizes path planning by concentrating on the region of interest—specifically, the identified part, rather than uniformly covering the entire painting tray.

Keywords: aerospace manufacturing, one-shot object detection, automated spray painting, vision-based path optimization, deep learning, automation, robotic arm

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Authors: Martin Plener

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Developmental and democratization research has a long tradition of focusing on the relationship between democratization and economic development. However, recent studies have shown that economic development is not adequate to measure the actual living conditions of civilian people. In consequence, it is unclear if a democratization process helps to improve people’s quality of life. This work addresses this issue by investigating the influence of democratization on the Human Development Index (HDI) created by the United Nations. The main objective is to study the relationship between democracy and human development and whether democratization positively impacts the living conditions of the population over time. The main mechanism which supports a positive impact is that democratic structures promote participation and political involvement of people from all social classes resulting in a better articulation of interests and thus accountability to the government. To study this issue, a panel regression with Fixed-Effects is conducted. By that, it is examined if democracy has a positive impact on the HDI (Hypothesis 1) and secondly if the same effect weakens in more developed democracies compared to less developed democracies (Hypothesis 2). The results do not reveal a direct positive relationship between the democratization of a country and its development of the HDI, not supporting H1 which denies the first hypothesis. In contrast to the assumption of H2, the effect of democratization on human development seems to be negatively correlated in countries in which democracy is barely developed. Therefore, both hypotheses must be discarded. The results indicate rather a positive correlation between economic development on human development. Therefore, the impact of democracy on the well-being of countries’ citizens needs to be reinvestigated in order to create a better understanding of how improved human development can be achieved.

Keywords: democracy, human development, modernization theory, HDI, TSCS

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Authors: Antonietta Maoloni, Federica Cardinali, Vesna Milanović, Andrea Osimani, Ilario Ferrocino, Maria Rita Corvaglia, Luca Cocolin, Lucia Aquilanti

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Table olives (Olea europaea L.) are among the most important fermented vegetables all over the world, while sea fennel (Crithmum maritimum L.) is an emerging food crop with interesting nutritional and sensory traits. Both of them are characterized by the presence of several bioactive compounds with potential beneficial health effects, thus representing two valuable substrates for the manufacture of innovative vegetable-based preserves. Given these premises, the present study was aimed at exploring the co-fermentation of table olives and sea fennel to produce new high-value preserves. Spanish style or Greek style processing method and the use of a multiple strain starter were explored. The preserves were evaluated for their microbial dynamics and key sensory traits. During the fermentation, a progressive pH reduction was observed. Mesophilic lactobacilli, mesophilic lactococci, and yeasts were the main microbial groups at the end of the fermentation, whereas Enterobacteriaceae decreased during fermentation. An evolution of the microbiota was revealed by metataxonomic analysis, with Lactiplantibacillus plantarum dominating in the late stage of fermentation, irrespective of processing method and use of the starter. Greek style preserves resulted in more crunchy and less fibrous than Spanish style one and were preferred by trained panelists.

Keywords: lactic acid bacteria, Lactiplantibacillus plantarum, metataxonomy, panel test, rock samphire

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Authors: Deng Tingting

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The coordinated and integrated development of regions is an inevitable requirement for China to move towards high-quality, sustainable development. As one of the regions with the best economic foundation and the strongest economic strength in western China, it is a typical area with national importance and strong network connection characteristics in terms of the comprehensive effect of linking the inland hinterland and connecting the western and national urban networks. The integrated development of the Chengdu-Chongqing economic circle is of great strategic significance for the rapid and high-quality development of the western region. In the context of new urbanization, this paper takes 16 urban units within the economic circle as the research object, based on the 5-year panel data of population, regional economy, and spatial construction and development from 2016 to 2020, using the entropy method and Theil index to analyze the three target layers, and cause analysis. The research shows that there are temporal and spatial differences in the Chengdu-Chongqing economic circle, and there are significant differences between the core city and the surrounding cities. Therefore, by reforming and innovating the regional coordinated development mechanism, breaking administrative barriers, and strengthening the "polar nucleus" radiation function to release the driving force for economic development, especially in the gully areas of economic development belts, not only promote the coordinated development of internal regions but also promote the coordinated and sustainable development of the western region and take a high-quality development path.

Keywords: Chengdu-Chongqing economic circle, new urbanization, coordinated regional development, Theil Index

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Authors: Sunyoung Park

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Context: Talent management is a strategic approach that has received considerable attention in recent years to improve employee competency and organizational performance in many organizations. The implementation of talent management involves identifying objectives and positions within the organization, developing a pool of high-potential employees, and establishing appropriate HR functions to promote high employee and organizational performance. This study aims to investigate the relationship between talent management, HR functions, employee competency, and organizational performance in the South Korean context. Research Aim: The main objective of this study is to investigate the structural relationships among talent management, human resources (HR) functions, employee competency, and organizational performance. Methodology: To achieve the research aim, this study used a quantitative research method. Specifically, a total of 1,478 responses were analyzed using structural equation modeling based on data obtained from the Human Capital Corporate Panel (HCCP) survey in South Korea. Findings: The study revealed that talent management has a positive influence on HR functions and employee competency. Additionally, HR functions directly affect employee competency and organizational performance. Employee competency was found to be related to organizational performance. Moreover, talent management and HR functions indirectly affect organizational performance through employee competency. Theoretical Importance: This study provides empirical evidence of the relationship between talent management, HR functions, employee competency, and organizational performance in the South Korean context. The findings suggest that organizations should focus on developing appropriate talent management and HR functions to improve employee competency, which, in turn, will lead to better organizational performance. Moreover, the study contributes to the existing literature by emphasizing the importance of the relationship between talent management and HR functions in improving organizational performance.

Keywords: employee competency, HR functions, organizational performance, talent management

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Authors: Innocent Pangapanga, Eric Mungatana

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Tropical cyclones–related floods (TCRFs) in Malawi have devastating effects on smallholder agriculture, thereby threatening the food security agenda, which is already constrained by poor agricultural innovations, low use of improved varieties, and unaffordable inorganic fertilizers, and fragmenting landholding sizes. Accordingly, households have engineered and indigenously implemented sustainable landscape management (SLM) innovations to contain the adverse effects of TCRFs on farm productivity. This study, therefore, interrogated the efficacy of SLM adoption on farm productivity under varying TCRFs, while controlling for the potential selection bias and unobservable heterogeneity through the application of the Endogenous Switching Regression Model. In this study, we further investigated factors driving SLM adoption. Substantively, we found TCRFs reducing farm productivity by 31 percent, on the one hand, and influencing the adoption of SLM innovations by 27 percent, on the other hand. The study also observed that households that interacted SLM with TCRFs were more likely to enhance farm productivity by 24 percent than their counterparts. Interestingly, the study results further demonstrated that multiple adoptions of SLM-related innovations, including intercropping, agroforestry, and organic manure, enhanced farm productivity by 126 percent, suggesting promoting SLM adoption as a package to appropriately inform existing sustainable development goals’ agricultural productivity initiatives under intensifying TCRFs in the country.

Keywords: tropical cyclones–related floods, sustainable landscape management innovations, farm productivity, endogeneity, endogenous switching regression model, panel data, smallholder agriculture

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Authors: Adebayo A. Abimbola, Anifowose O. Joseph, Olanrewaju S. Taiwo

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Green building (GB) practices have the potential to save energy, save money, and improve the quality of human habitat. They can also contribute to water conservation, more efficient use of raw materials, and ecosystem health around the globe. The Intergovernmental Panel on Climate Change (IPCC) singled out the building sector as having the most cost-effective opportunities for reducing carbon emissions—in fact, many building-related opportunities are cost-neutral, or even cost-positive, to the building owner. These benefits have made green building practices the fastest-growing trend in the building industry, but they still represent only a fraction of new construction, and the enormous stock of existing buildings has barely been touched at all. To effectively deliver the kind of (GB) that can become a force for positive change at global, regional and local scales, all workforce sectors need new skills that are both technical and interpersonal in nature. A prominent bottleneck is seen to be education and training. This paper investigates the major gaps in current GB education and training offerings in Nigeria. A questionnaire survey was developed to capture the perception of construction professionals and academics in relevant professions regarding the significance of the identified gaps as it affects GB education and training. Based on Likert scale ranking, research result shows that perception of training in specific technical fields and financial benefits and evaluation are identified as the top gaps in GB training and education offerings. The paper concludes with suggestions and actions that can enhance capabilities of the GB workforce in Nigeria.

Keywords: education and training, gaps, green building, workforce

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Authors: M. Wittmann, G. Kopacik, A. Leitmannova

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A prominent place in the spatial arrangement of Czech as well as other post-socialist, Central European cities belongs to 19th century closed urban blocks and the open concrete panel housing estates which were erected during the socialism era in the second half of 20th century. The characteristics of these two fundamentally diverse types of residential structures have, as we suppose, a different impact on the sustainable development of the urban area. The characteristics of these residential structures may influence the ecological stability of the area, its hygienic qualities, the intensity and way of using by various social groups, and also, e.g., the prices of real estates. These and many other phenomena indicate the environmental, social and economic sustainability of the urban area. The proposed research methodology assessed specific indicators of sustainability within a range from 0 to 10 points. 5 points correspond to the general standard in the area, 0 points indicates degradation, and 10 points indicate the highest contribution to sustainable development. The survey results are reflected in the overall sustainability index and in the residents’ satisfaction index. The paper analyses the residential structures in the Central European city of Brno, Czech Republic. The case studies of the urban blocks near the city centre and of the housing estate Brno - Vinohrady are compared. The results imply that a considerable positive impact on the sustainable development of the area should be ascribed to the closed urban blocks near the city centre.

Keywords: City of Brno, closed urban block, open housing estate, urban structure

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Authors: Lissette Alejandra Lara, Mario Gomez, Jose Carlos Rodriguez

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ransnational corporations (TNCs) as units in which it is possible technology and knowledge transfer across borders and the potential for generating innovation and contributing in economic development both in home and host countries have been widely acknowledged in the foreign direct investment (FDI) literature. Particularly, the accelerated expansion of emerging countries TNCs in the last decades has guided an uprising research stream that measure the presence of reverse technology transfer, defined as the extent to which emerging countries’ TNCs use outward FDI in a host country through certain mechanisms to absorb and transfer knowledge thus improving its technological capabilities in the home country. The objective of this paper is to test empirically the presence of reverse technology transfer and its impact on the innovation capabilities in Mexican transnational corporations (MXTNCs) as a part of the emerging countries TNCs that have successfully entered to industrialized markets. Using a panel dataset of 22 MXTNCs over the period 1994-2015, the results of the econometric model demonstrate that the amount of Mexican outward FDI and the research and development (R&D) expenditure in host developed countries had a positive impact on the innovation capabilities at the firm and industry level. There is also evidence that management of acquired brands and the organizational structure of Mexican subsidiaries improved these capabilities. Implications for internationalization strategies of emerging countries corporations and future research guidelines are discussed.

Keywords: emerging countries, foreign direct investment, innovation capabilities, Mexican transnational corporations, reverse technology transfer

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Authors: Ilham Ihoume, Rachid Tadili, Nora Arbaoui

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The use of solar energy is a crucial tactic in the agricultural industry's plan ‎‎to decrease greenhouse gas emissions. This clean source of energy can ‎greatly lower the sector's carbon footprint and make a significant impact in ‎the ‎fight against climate change. In this regard, this study examines the ‎effects ‎of a solar-based heating system, in a north-south oriented agricultural ‎green‎house on the development of strawberry plants during winter. This ‎system ‎relies on the circulation of water as a heat transfer fluid in a closed ‎circuit ‎installed on the greenhouse roof to store heat during the day and ‎release it ‎inside at night. A comparative experimental study was conducted ‎in two ‎greenhouses, one experimental with the solar heating system and the ‎other ‎for control without any heating system. Both greenhouses are located ‎on the ‎terrace of the Solar Energy and Environment Laboratory of the ‎Mohammed ‎V University in Rabat, Morocco. The developed heating system ‎consists of a ‎copper coil inserted in double glazing and placed on the roof of ‎the greenhouse, a water pump circulator, a battery, and a photovoltaic solar ‎panel to ‎power the electrical components. This inexpensive and ‎environmentally ‎friendly system allows the greenhouse to be heated during ‎the winter and ‎improves its microclimate system. This improvement resulted ‎in an increase ‎in the air temperature inside the experimental greenhouse by 6 ‎‎°C and 8 °C, ‎and a reduction in its relative humidity by 23% and 35% ‎compared to the ‎control greenhouse and the ambient air, respectively, ‎throughout the winter. ‎For the agronomic performance, it was observed that ‎the production was 17 ‎days earlier than in the control greenhouse‎.‎

Keywords: sustainability, thermal energy storage, solar energy, agriculture greenhouse

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Authors: Ademola Ajibade

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Previous studies have explored several rationales for hedging strategies, but the evidence provided by these studies remains ambiguous. Using a hand-collected dataset of 2460 observations of non-financial firms in eight African countries covering 2013-2022, this paper investigates the determinants and extent of corporate hedge use. In particular, this paper focuses on the link between country-specific conditions and the corporate hedging behaviour of firms. To our knowledge, this represents the first African studies investigating the association between country-specific factors and corporate hedging policy. The evidence based on both univariate and multivariate reveal that country-level corruption and government quality are important indicators of the decisions and extent of hedge use among African firms. However, the connection between country-specific factors as a rationale for corporate hedge use is stronger for firms located in highly corrupt countries. This suggest that firms located in corrupt countries are more motivated to hedge due to the large exposure they face. In addition, we test the risk management theories and observe that CEOs educational qualification and experience shape corporate hedge behaviour. We implement a lagged variables in a panel data setting to address endogeneity concern and implement an interaction term between governance indices and firm-specific variables to test for robustness. Generally, our findings reveal that institutional factors shape risk management decisions and have a predictive power in explaining corporate hedging strategy.

Keywords: corporate hedging, governance quality, corruption, derivatives

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Authors: Saba Goudarzi Dehrizifar, Aysan Afradi

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The utilization of ozone treatment as a potential technique for storage pest control has gained significant attention. This approach presents an alternative to traditional chemical methods. In the current study, the mortality rates of Plodia interpunctella as a primary pest found in stored products particularly nuts, were examined after being exposed to different O3 concentration (minimum, half, and maximum) in three replicates and within 24 hours. As the concentration of O3 increased, the mortality rates of P. interpunctella also experienced a dramatic growth. A 20-member panel (men and women in different ages), formed from the society community, was selected for sensory evaluation. The pumpkin seeds samples were coded and presented randomly in identical containers. The panelists were asked to evaluate their degree of liking or disliking on a seven-point hedonic scale using descriptive categories, ranging 1-7 (1: extremely dislike, 2: very dislike, 3: dislike, 4: no difference, 5: like, 6: very like, and 7: extremely like). The results obtained from experiments on the qualitative characteristics of the studied dates through the sensory test revealed that O3 concentration did not affect their color, crispness, firmness, and overall acceptance and the half concentration of ozone on pumpkin seed had the highest consumption interest. Moreover, minimal alterations were observed in the aroma of the pumpkin seeds, which could be resolved with a short period of air exposure. Therefore, it could be concluded that the atmospheric O3 gas provided a cost-effective and environmentally friendly way for controlling the insect pests in pumpkin seeds, besides preserving their sensory and quality properties.

Keywords: zone, control, pumpkin seeds, qualitative characteristics

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Authors: Muhammad Ali Asadullah, Zafarullah Amir

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In recent years, Vocational Education and Training (VET) has been under discussion by the academic researchers and remained in focus in the political grounds. Due to potential contribution of VET, the World Bank and United Nations Educational, Scientific and Cultural Organization (UNESCO) support vocational education to reduce poverty, enhance economic growth and increase competitiveness. This paper examines the impact of Vocational Education and Training on the Economic Growth and Social Inclusion with direct and mediation effect of Social Inclusion. The basic purpose of this study is to assess economic pay-offs as a result of long term investments in VET. Based on the review of Anderson Nilsson, initially we explored the increasing or decreasing trend in investment on VET. Further, the study explores that the countries which invest more on VET, tend to get more economic growth and are socially more ‘inclusive’. It is a longitudinal / panel data study with 12 years of registered data which involves 24 OECD countries. The results of the study indicate the VET has positive association with Social Inclusion and Economic Growth. Further, there is also a positive association of VET and Economic Growth through mediation of Social Inclusion. The current study considers not only issue and challenges in developing VET systems but also contributes to develop the theoretical framework for considering how VET can directly and indirectly improve economic growth and social inclusion. A wider appreciation of how VET’s benefits operate may influence a country’s decisions to invest in it. If policy makers increase investment on VET, the result would be positive in Economic Growth and Social Inclusion. It is also recommended that the same OECD model may be implemented in developing countries like Pakistan.

Keywords: Vocational Education and Training (VET), Social Inclusion, Economic Growth, OECD countries

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