Search results for: financial analysis funding structure

Authors: Seyed Abolhasan Naeini, Saeideh Mohammadi

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Site response has a profound effect on earthquake damages. Seismic interaction of urban tunnels with surface structures could also affect seismic site response. Here, we use FLAC 2D to investigate the interaction of a single tunnel and twin tunnels-surface structures on the site response. Soil stratification and properties are selected based on Line. No 7 of the Tehran subway. The effect of surface structure is considered in two ways: Equivalent surcharge and geometrical modeling of the structure. Comparison of the results shows that consideration of the structure geometry is vital in dynamic analysis and leads to the changes in the magnitude of displacements, accelerations and response spectrum. Therefore it is necessary for the surface structures to be wholly modeled and not just considered as a surcharge in dynamic analysis. The use of twin tunnel also leads to the reduction of dynamic residual settlement.

Keywords: superstructure, tunnel, site response, surcharge, interaction

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Authors: Sogand Barghi

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The integration of artificial intelligence (AI) in accounting practices is reshaping the landscape of financial management. This paper explores the innovative applications of AI in the realm of accounting, emphasizing its transformative impact on efficiency, accuracy, decision-making, and financial insights. By harnessing AI's capabilities in data analysis, pattern recognition, and automation, accounting professionals can redefine their roles, elevate strategic decision-making, and unlock unparalleled value for businesses. This paper delves into AI-driven solutions such as automated data entry, fraud detection, predictive analytics, and intelligent financial reporting, highlighting their potential to revolutionize the accounting profession. Artificial intelligence has swiftly emerged as a game-changer across industries, and accounting is no exception. This paper seeks to illuminate the profound ways in which AI is reshaping accounting practices, transcending conventional boundaries, and propelling the profession toward a new era of efficiency and insight-driven decision-making. One of the most impactful applications of AI in accounting is automation. Tasks that were once labor-intensive and time-consuming, such as data entry and reconciliation, can now be streamlined through AI-driven algorithms. This not only reduces the risk of errors but also allows accountants to allocate their valuable time to more strategic and analytical tasks. AI's ability to analyze vast amounts of data in real time enables it to detect irregularities and anomalies that might go unnoticed by traditional methods. Fraud detection algorithms can continuously monitor financial transactions, flagging any suspicious patterns and thereby bolstering financial security. AI-driven predictive analytics can forecast future financial trends based on historical data and market variables. This empowers organizations to make informed decisions, optimize resource allocation, and develop proactive strategies that enhance profitability and sustainability. Traditional financial reporting often involves extensive manual effort and data manipulation. With AI, reporting becomes more intelligent and intuitive. Automated report generation not only saves time but also ensures accuracy and consistency in financial statements. While the potential benefits of AI in accounting are undeniable, there are challenges to address. Data privacy and security concerns, the need for continuous learning to keep up with evolving AI technologies, and potential biases within algorithms demand careful attention. The convergence of AI and accounting marks a pivotal juncture in the evolution of financial management. By harnessing the capabilities of AI, accounting professionals can transcend routine tasks, becoming strategic advisors and data-driven decision-makers. The applications discussed in this paper underline the transformative power of AI, setting the stage for an accounting landscape that is smarter, more efficient, and more insightful than ever before. The future of accounting is here, and it's driven by artificial intelligence.

Keywords: artificial intelligence, accounting, automation, predictive analytics, financial reporting

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Authors: Hiroyuki Aoki

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The physical properties of polymer materials are dependent on the conformation and molecular motion of a polymer chain. Therefore, the structure and dynamic behavior of the single polymer chain have been the most important concerns in the field of polymer physics. However, it has been impossible to directly observe the conformation of the single polymer chain in a bulk medium. In the current work, the novel techniques to study the conformation and dynamics of a single polymer chain are proposed. Since a fluorescence method is extremely sensitive, the fluorescence microscopy enables the direct detection of a single molecule. However, the structure of the polymer chain as large as 100 nm cannot be resolved by conventional fluorescence methods because of the diffraction limit of light. In order to observe the single chains, we developed the labeling method of polymer materials with a photo-switchable dye and the super-resolution microscopy. The real-space conformational analysis of single polymer chains with the spatial resolution of 15-20 nm was achieved. The super-resolution microscopy enables us to obtain the three-dimensional coordinates; therefore, we succeeded the conformational analysis in three dimensions. The direct observation by the nanometric optical microscopy would reveal the detailed information on the molecular processes in the various polymer systems.

Keywords: polymer materials, single molecule, super-resolution techniques, conformation

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Authors: Mai Yen Nhi Doan, Viet Le, Chamindika Weerakoon

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Social enterprises have emerged as sustainable organisations that deliver social achievement along with long-term financial advancement. However, recorded financial barriers have urged social enterprises to divert to other financing methods due to the misaligned ideology with traditional financing capitalists, in which crowdfunding can be a promising alternative. Previous studies in crowdfunding have inadequately addressed crowdfunding for social enterprises, with conflicting results due to the unsuitable analysis of signals in isolation rather than in combinations, using the data from platforms that do not support social enterprises. Extending the signalling theory, this study suggests that crowdfunding success results from the collaboration between costly and costless signals. The proposed conceptual framework enlightens the interaction between costly signals as “organisational information”, “social entrepreneur’s credibility,” and “third-party endorsement” and costless signals as various sub-signals under the “campaign preparedness” signal to achieve crowdfunding success. Using Qualitative Comparative Analysis, this study examined 45 crowdfunding campaigns run by Australian social enterprises on StartSomeGood and Chuffed. The analysis found that different combinations of costly and costless signals can lead to crowdfunding success, allowing social enterprises to adopt suitable combinations of signals to their context. Costless signal – campaign preparedness is fundamental for success, though different costless sub-signals under campaign preparedness can interact with different costly signals for the desired outcome. Third-party endorsement signal was found to be the necessary signal for crowdfunding success for Australian social enterprises.

Keywords: crowdfunding, qualitative comparative analysis (QCA), signalling theory, social enterprises

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Authors: Cam-Duc Au, Philippe Krahnhof, Lars Klingenberger

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German banks are experiencing harsh times due to rising costs and declining profits. On the one hand, acquisition costs for new customers are increasing because of the rise of innovative FinTechs, which entered the market with one specific goal: disrupting the whole financial services industry by occupying parts of the value chain. On the other hand, the COVID-19 pandemic, as well as an overall low level of interest rates, cause the traditional source of bank income to still drain. Consequently, traditional banks must rethink their strategies or their identity, so to speak, because they go beyond their traditional offering of products and services. Having said that, banks may create new sources of income to stabilize their economic situation and replenish profits. The given paper aims to research the opportunities of establishing an ecosystem model. In doing so, the paper contributes to the current literature debate and provide reference points for traditional banks to start. Firstly, a systematic literature review introduces a selection of research works the author regards as significant. In the following step, quantitative data from an online survey with bank clients are analysed by means of descriptive statistics to show the perspective of Germans with regards to an ecosystem offering. The final research findings indicate that the surveyed retail banking clients express interest in the new offer, whereas non-financial products and services are of lower interest than their financial pendants.

Keywords: banking, ecosystem, disruptive innovation, digital offering, open-banking-strategy, financial services industry

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Authors: Mohamed Y. M. Mohsen

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The viability of utilising mixed-oxide fuel (MOX) ((U₀.₉, rgPu₀.₁) O₂) as an accident-tolerant fuel (ATF) has been thoroughly investigated. MOX fuel provides the best example of a nuclear waste recycling process. The MCNPX 2.7 code was used to determine the main neutronic features, especially the radial power distribution, to identify the hot channel on which the thermal-hydraulic (TH) study was performed. Based on the computational fluid dynamics technique, the simulation of the rod-centered thermal-hydraulic subchannel model was implemented using COMSOL Multiphysics. TH analysis was utilised to determine the axially and radially distributed temperatures of the fuel and cladding materials, as well as the departure from the nucleate boiling ratio (DNBR) along the coolant channel. COMSOL Multiphysics can simulate reality by coupling multiphysics, such as coupling between heat transfer and solid mechanics. The main solid structure parameters, such as the von Mises stress, volumetric strain, and displacement, were simulated using this coupling. When the neutronic, TH, and solid structure performances of UO₂ and ((U₀.₉, rgPu₀.₁) O₂) were compared, the results showed considerable improvement and an increase in safety margins with the use of ((U₀.₉, rgPu₀.₁) O₂).

Keywords: mixed-oxide, MCNPX, neutronic analysis, COMSOL-multiphysics, thermal-hydraulic, solid structure

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Authors: Ali Reza Ghanbarnezhad Ghazvini, Seyyed Hamid Reza Mosayyebi

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In recent years, an earthquake has occurred approximately every five years in certain regions of Iran. To mitigate the impact of these seismic events, it is crucial to identify and thoroughly assess the vulnerability of buildings and infrastructure, ensuring their safety through principled reinforcement. By adopting new methods of risk assessment, we can effectively reduce the potential risks associated with future earthquakes. In our research, we have observed that the coefficient of behavior in the fourth chapter is 1.65 for the initial structure and 1.72 for the Superframe structure. This indicates that the Superframe structure can enhance the strength of the main structural members by approximately 10% through the utilization of super beams. Furthermore, based on the comparative analysis between the two structures conducted in this study, we have successfully designed a stronger structure with minimal changes in the coefficient of behavior. Additionally, this design has allowed for greater energy dissipation during seismic events, further enhancing the structure's resilience to earthquakes. By comprehensively examining and reinforcing the vulnerability of buildings and infrastructure, along with implementing advanced risk assessment techniques, we can significantly reduce casualties and damages caused by earthquakes in Iran. The findings of this study offer valuable insights for civil engineering professionals in the field of structural engineering, aiding them in designing safer and more resilient structures.

Keywords: modal pushover analysis, response modification factor, high-strength concrete, concrete shear walls, high-rise building

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Authors: Joanna Stawska

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The main objective of this article is to examine the impact of interest rates on investments in Poland in the context of financial crisis. The paper also investigates the dependence of bank loans to enterprises on interbank market rates. The article studies the impact of interbank market rate on the level of investments in Poland. Besides, this article focuses on the research of the correlation between the level of corporate loans and the amount of investments in Poland in order to determine the indirect impact of central bank interest rates through the transmission mechanism of monetary policy on the real economy. To achieve the objective we have used econometric and statistical research methods like: econometric model and Pearson correlation coefficient. This analysis suggests that the central bank reference rate inversely proportionally affects the level of investments in Poland and this dependence is moderate. This is also important issue because it is related to preparing of Poland to accession to euro area. The research is important from both theoretical and empirical points of view. The formulated conclusions and recommendations determine the practical significance of the paper which may be used in the decision making process of monetary and economic authorities of the country.

Keywords: central bank, financial crisis, interest rate, investments

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Authors: Youssef El Makhrout, Aude Pommeret, Tunç Durmaz

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This paper analyses the consequences of a heat pump on the optimal behavior of a prosumer. A theoretical microeconomic model is developed for household heating and electricity consumption to analyze the profitability of installing a solar PV system with a heat pump, battery storage, and grid use. The aim is to present the optimal scenario of investment in renewable energy equipment to cover domestic and heating needs. Simulation data of a French house of 170m² in Chambery are used in this paper. The house is divided into 5 zones with 3 heated zones of 89.4 m² occupied by two people. The analysis is based on hourly data for one year, from 00:00 01/01/2021 to 23:00 31/12/2021. Results indicate that without taking the cost of materials and no financial aid, the most profitable scenario for a household is when he owns solar panels, a heat pump, and battery storage. However, with the costs and financial aid of the French government for energy renovation, the net economic surplus change and the profitability during 20 years are important when the household decides to add a heat pump to existing solar panels. In this scenario, the household can realize 35.84% as a surplus change improvement, but this cannot cover all installation costs. The household can get benefits and cover all installation costs after exploiting financial support in the case of adopting a heat pump. The investment in a battery is still not profitable because of its high cost and the lack of financial aid. Some public policy recommendations are proposed, especially for solar panels and battery storage.

Keywords: household’s heating, prosumer, electricity consumption, renewable energy, welfare gain, comfort, solar PV, heat pumps, storage

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Authors: Safa Ougoujil, Sidi Mohamed Rigar

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Economics is not an exact science. It cannot be from the moment it is a social science that concerns society organization, a human science that depends on the behavior of the men and women who make a part of this society. Therefore, it cannot ignore morality, the instinctive sense of good and evil, the natural order which place us between certain values, and which religion often sheds light on. In terms of finance, the reference to ethics is becoming more popular than ever. This is naturally due to the growing financial crises. Finance is less and less ethical, but some financial practices have continued to do so. This is the case of ethical finance and Islamic finance. After attempting to define the concepts of ethical finance and Islamic finance, in a period when financial innovation seeks to encourage differentiation in order to create more profit margins, this article attempts to expose the particularities, the convergences and the potentialities of development of these two sensibilities.

Keywords: convergences, ethical finance, Islamic finance, potential development

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Authors: Idris Adamu Alhaji, Wan Fauziahbt Wan Yusoff

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This study was conducted to identify the relationship between Corporate Governance attributes and Firm Performance, various studies, had been carried out mostly in developed countries, in order to identify the relationship between corporate governance attributes and firm performance. Since, the value creation of corporate governance can be measured through the firm performance, corporate governance act as a mechanism to align management's goals with the stakeholders especially to increase firm performance. Despite extensive study of corporate governance there is still an inconsistence relationship between corporate governance attributes and firm performance. Therefore, the aim of this paper is to identify the relationship between corporate governance attributes and firm performance. Five corporate governance element were used as independent variables which include: Independent director, board size, audit committee, leadership structure and board meeting. Meanwhile, the dependent variables are two firm performance measurements; return on equity (ROE) and earning per share (EPS). This study uses quantitative approaches whereby data were gathered from secondary source data were collected from Annual Reports of the companies, online journals etc. This study revealed that, there is a significant relationship between corporate governance attributes and firm performance. Therefore, the results show that good corporate governance practice influence firm performance. Finally, it's hoped that this study provides current corporate governance scenario in Malaysia that can be used to enhance the development of corporate governance of the country.

Keywords: corporate governance, return on equity, earning per share, financial performance

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Authors: P. Efstathiou, E. Kouskouni, S. Papanikolaou, K. Karageorgou, Z. Manolidou, Tseroni Maria, A. Efstathiou, V. Karyoti, I. Agrafa

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Aim: Aim of this study was to evaluate the reduction on Intensive Care Unit (ICU) microbial flora after the antimicrobial copper alloy (Cu+) implementation as well as the effect on financial-epidemiological operation parameters. Methods: Medical, epidemiological and financial data in two time periods, before and after the implementation of copper (Cu 63% - Zn 37%, low lead) were recorded and analyzed in a general ICU. The evaluated parameters were: the importance of patients' admission (Acute Physiology and Chronic Health Evaluation - APACHE II and Simplified Acute Physiology Score - SAPS), microbial flora's record in the ICU before and after the implementation of Cu+ as well as the impact on epidemiological and ICU's operation financial parameters. Results: During December 2010 and March 2011 and respectively during December 2011 and March 2012 comparative results showed statistically significant reduction on the microbial flora (CFU/ml) by 95% and the use of antimicrobial medicine (per day per patient) by 30% (p = 0,014) as well as patients hospitalization time and cost. Conclusions: The innovative implementation of antimicrobial copper in ICUs contributed to their microbial flora significant reduction and antimicrobial drugs use reduction with the apparent positive effect (decrease) in both patient’s hospitalization time and cost. Under the present circumstances of economic crisis, survey results are of highest importance and value.

Keywords: antimicrobial copper, financial benefits, ICU, cost reduction

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Authors: Katarzyna Stoklosa

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Introduction: European Public Prosecutor’s Office (EPPO) is an independent office in European Union which was established under the article 86 of the Treaty on the Functioning of the European Union by the Treaty of Lisbon following the method of enhanced cooperation. EPPO is aimed at combating crimes against the EU’s financial interest et fraud against the EU budgets on the one hand, EPPO will give a chance to effective fight with organized criminality, on the other it seems to be a threat for member-states which bound with justice the problem of sovereignty. It is a new institution that will become effective from 2020, which is why it requires prior analysis. Methodology: The author uses statistical and comparative methods by collecting and analyzing the work of current institutions such as Europol, Eurojust, as well as the future impact of EPPO on detection and prosecution of crimes. The author will also conduct questionnaire among students and academic staff involved in the perception of EU institutions and the need to create new entities dealing with inter-agency cooperation in criminal matters. Thanks to these research the author will draw up present ways of cooperation between member-states and changes in fighting with financial crimes which will grow up under new regulation. Major Finding of the Study: Analysis and research show that EPPO is an institution based on the principle of mutual recognition, which often does not work in cooperation between Member States. Distrust and problems with the recognition of judgments of other EU Member States may significantly affect the functioning of EPPO. Poland is not part of the EPPO, because arguments have been raised that the European Public Prosecutor's Office interferes too much with the Member States’ pro-active sovereignty and duplicates competences. The research and analyzes carried out by the author show that EPPO has completely new competences, for example, it may file indictments against perpetrators of financial crimes. However, according to the research carried out by the author, such competences may undermine the sovereignty and the principle of protecting the public order of the EU. Conclusion: After the analysis, it will be possible to set following thesis: EPPO is only possible way to effective fight with organized financial criminality. However in conclusion Polish doubts should not be criticized at all. Institutions as EPPO must properly respect sovereignty of member-states. Even instruments like that cannot provoke political contraventions, because there are no other ways to effective resolving of international criminality problem.

Keywords: criminal trial, economic crimes, European Public Prosecutor's Office, European Union

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Authors: Hashem Shariatmadar, Mozhgansadat Momtazdargahi

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The purpose of control structure against earthquake is to dissipate earthquake input energy to the structure and reduce the plastic deformation of structural members. There are different methods for control structure against earthquake to reduce the structure response that they are active, semi-active, inactive and hybrid. In this paper two different combined control systems are used first system comprises base isolator and multi tuned mass dampers (BI & MTMD) and another combination is hybrid base isolator and multi tuned mass dampers (HBI & MTMD) for controlling an eight story isolated benchmark steel structure. Active control force of hybrid isolator is estimated by fuzzy logic algorithms. The influences of the combined systems on the responses of the benchmark structure under the two near-field earthquake (Newhall & Elcentro) are evaluated by nonlinear dynamic time history analysis. Applications of combined control systems consisting of passive or active systems installed in parallel to base-isolation bearings have the capability of reducing response quantities of base-isolated (relative and absolute displacement) structures significantly. Therefore in design and control of irregular isolated structures using the proposed control systems, structural demands (relative and absolute displacement and etc.) in each direction must be considered separately.

Keywords: base-isolated benchmark structure, multi-tuned mass dampers, hybrid isolators, near-field earthquake, fuzzy algorithm

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Authors: Tomola Obamuyi

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The banking system in Nigeria adopted innovative banking, with the aim of enhancing financial inclusion, and making financial services readily and cheaply available to majority of the people, and to contribute to the efficiency of the financial system. Some of the innovative services include: Automatic Teller Machines (ATMs), National Electronic Fund Transfer (NEFT), Point of Sale (PoS), internet (Web) banking, Mobile Money payment (MMO), Real-Time Gross Settlement (RTGS), agent banking, among others. The introduction of these payment systems is expected to increase bank efficiency and customers' satisfaction, culminating in better performance for the commercial banks. However, opinions differ on the possible effects of the various innovative payment systems on the performance of commercial banks in the country. Thus, this study empirically determines how commercial banks use innovation to gain competitive advantage in the specific context of Nigeria's finance and business. The study also analyses the effects of financial innovation on the performance of commercial banks, when different periods of analysis are considered. The study employed secondary data from 2009 to 2018, the period that witnessed aggressive innovation in the financial sector of the country. The Vector Autoregression (VAR) estimation technique forecasts the relative variance of each random innovation to the variables in the VAR, examine the effect of standard deviation shock to one of the innovations on current and future values of the impulse response and determine the causal relationship between the variables (VAR granger causality test). The study also employed the Multi-Criteria Decision Making (MCDM) to rank the innovations and the performance criteria of Return on Assets (ROA) and Return on Equity (ROE). The entropy method of MCDM was used to determine which of the performance criteria better reflect the contributions of the various innovations in the banking sector. On the other hand, the Range of Values (ROV) method was used to rank the contributions of the seven innovations to performance. The analysis was done based on medium term (five years) and long run (ten years) of innovations in the sector. The impulse response function derived from the VAR system indicated that the response of ROA to the values of cheques transaction, values of NEFT transactions, values of POS transactions was positive and significant in the periods of analysis. The paper also confirmed with entropy and range of value that, in the long run, both the CHEQUE and MMO performed best while NEFT was next in performance. The paper concluded that commercial banks would enhance their performance by continuously improving on the services provided through Cheques, National Electronic Fund Transfer and Point of Sale since these instruments have long run effects on their performance. This will increase the confidence of the populace and encourage more usage/patronage of these services. The banking sector will in turn experience better performance which will improve the economy of the country. Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression,

Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression

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Authors: N. Dumitru, S. Dumitru, C. Copilusi, N. Ploscaru

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On this research, experimental analyses have been performed in order to determine the oil pump mechanism dynamics and stability from an oil unit mechanical structure. The experimental tests were focused on the vibrations which occur inside of the rod element during functionality of the oil pump unit. The oil pump mechanism dynamic parameters were measured and also determined through numerical computations. Entire research is based on the oil pump unit mechanical system virtual prototyping. For a complete analysis of the mechanism, the frequency dynamic response was identified, mainly for the mechanism driven element, based on two methods: processing and virtual simulations with MSC Adams aid and experimental analysis. In fact, through this research, a complete methodology is presented where numerical simulations of a mechanism with deformed elements are developed on a dynamic mode and these can be correlated with experimental tests.

Keywords: modal dynamic analysis, oil pump, vibrations, flexible elements, frequency response

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Authors: Colm Barcoe, Garvan Whelan

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Over the past five years, visitations of American holidaymakers to Ireland have grown exponentially owing to the online strategies of Tourism Ireland, a Destination Marketer (DMO) with a meagre budget which is extended by their understanding of best practices to maximise their monetary allowance. This suggested framework incorporates a range of Key Performance Indicators (KPI’s) such as financial, marketing, and operational that offer a scale of measurement from which the Irish DMO can monitor the success of each promotional campaign when targeting the US and Canada. These are presented not as final solutions but rather as suggestions based on empirical evidence obtained from both primary and secondary sources. This research combines the wisdom extracted through qualitative methodologies with the objective of understanding the processes that drive both emergent and agile strategies. The Study extends the work relative to performance and examines the role of social media in the context of promoting Ireland to North America. There are two main themes that are identified and analysed in this investigation, these are the approach of the DMO when advocating Ireland as a brand and the benefits of digital platforms set against a proposed scale of KPIs, such as destination marketing, brand positioning, and identity development. The key narrative of this analysis is to focus on the power of social media when capitalising upon marketing opportunities, operating on a relatively small budget. This will always be a relevant theme of discussion due to the responsibility of an organisation like Tourism Ireland operating under the restraints imposed by government funding. The overall conclusions of this research may help inform those concerned with the implementing of social media strategies develop clearer models of measurement when promoting a destination to North America. The suggestions of this study will benefit small and medium enterprises particularly.

Keywords: destination marketing, framework, measure, performance

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Authors: Jun Wang, Ge Zhang

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Machine learning has been used in many areas today. It thrives at reviewing large volumes of data and identifying patterns and trends that might not be apparent to a human. Given the huge potential benefit and the amount of data available in the financial market, it is not surprising to see machine learning applied to various financial products. While future prices of financial securities are extremely difficult to forecast, we study them from a different angle. Instead of trying to forecast future prices, we apply machine learning algorithms to predict the direction of future price movement, in particular, whether a sector Exchange Traded Fund (ETF) would outperform or underperform the market in the next week or in the next month. We apply several machine learning algorithms for this prediction. The algorithms are Linear Discriminant Analysis (LDA), k-Nearest Neighbors (KNN), Decision Tree (DT), Gaussian Naive Bayes (GNB), and Neural Networks (NN). We show that these machine learning algorithms, most notably GNB and NN, have some predictive power in forecasting out-performance and under-performance out of sample. We also try to explore whether it is possible to utilize the predictions from these algorithms to outperform the buy-and-hold strategy of the S&P 500 index. The trading strategy to explore out-performance predictions does not perform very well, but the trading strategy to explore under-performance predictions can earn higher returns than simply holding the S&P 500 index out of sample.

Keywords: machine learning, ETF prediction, dynamic trading, asset allocation

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Authors: Naziema Begum Jappie

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Leadership and entrepreneurship in higher education have become critical components in navigating the evolving landscape of academia in the 21st century. This abstract explores the multifaceted relationship between leadership and entrepreneurship within the realm of higher education, emphasizing their roles in fostering innovation and sustainability. Higher education institutions, often characterized as slow-moving and resistant to change, are facing unprecedented challenges. Globalization, rapid technological advancements, changing student demographics, and financial constraints necessitate a reimagining of traditional models. Leadership in higher education must embrace entrepreneurial thinking to effectively address these challenges. Entrepreneurship in higher education involves cultivating a culture of innovation, risk-taking, and adaptability. Visionary leaders who promote entrepreneurship within their institutions empower faculty and staff to think creatively, seek new opportunities, and engage with external partners. These entrepreneurial efforts lead to the development of novel programs, research initiatives, and sustainable revenue streams. Innovation in curriculum and pedagogy is a central aspect of leadership and entrepreneurship in higher education. Forward-thinking leaders encourage faculty to experiment with teaching methods and technology, fostering a dynamic learning environment that prepares students for an ever-changing job market. Entrepreneurial leadership also facilitates the creation of interdisciplinary programs that address emerging fields and societal challenges. Collaboration is key to entrepreneurship in higher education. Leaders must establish partnerships with industry, government, and non-profit organizations to enhance research opportunities, secure funding, and provide real-world experiences for students. Entrepreneurial leaders leverage their institutions' resources to build networks that extend beyond campus boundaries, strengthening their positions in the global knowledge economy. Financial sustainability is a pressing concern for higher education institutions. Entrepreneurial leadership involves diversifying revenue streams through innovative fundraising campaigns, partnerships, and alternative educational models. Leaders who embrace entrepreneurship are better equipped to navigate budget constraints and ensure the long-term viability of their institutions. In conclusion, leadership and entrepreneurship are intertwined elements essential to the continued relevance and success of higher education institutions. Visionary leaders who champion entrepreneurship foster innovation, enhance the student experience, and secure the financial future of their institutions. As academia continues to evolve, leadership and entrepreneurship will remain indispensable tools in shaping the future of higher education. This abstract underscores the importance of these concepts and their potential to drive positive change within the higher education landscape.

Keywords: entrepreneurship, higher education, innovation, leadership

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Authors: Nihal Chandratilaka Matara Arachchige, Nishantha Sampath Punichihewa

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Intellectual property (IP) assets are the ‘crown-jewels’ of innovation-driven businesses in the knowledge-based economy. In that sense, IP rights such as patents, trademarks and copyrights afford enormous economic opportunities to an enterprise, especially Small and Medium Enterprise (SME). As can be gleaned from the latest statistics, the domestic industries in Sri Lanka are predominantly represented by SMEs. Undeniably, in terms of economic contribution, the SME sector is considered to be the backbone of the country’s ‘real economy’. However, the SME sector in Sri Lanka faces number of challenges. One of the nearly-insurmountable-hurdles for small businesses is the access to credit facilities, due to the lack of collateral. In the eyes of law, the collateral is something pledged as security for repayment in the event of default. Even though the intellectual property rights are used as collateral in order to facilitate obtaining credit for businesses in number of Asian jurisdictions, financial institutions in Sri Lanka are extremely reluctant to accept IP rights as collateral for granting financial resources to SMEs. Against this backdrop, this research investigates from a legal perspective reasons for not accepting IP rights as collateral when granting loans for SMEs. Drawing emerging examples from other jurisdiction, it further examines the inadequacies of existing legal framework in relation to the use of IP rights as collateral. The methodology followed in this paper is qualitative research. Empirical research and analysis concerning the core research question are carried out by conducting in-depth interviews with stakeholders, including leading financial institutions in Sri Lanka.

Keywords: intellectual property assets, SMEs, collaterals financial facilities, credits

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Authors: Miriam Sosa, Edgar Ortiz, Alejandra Cabello

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This paper examines the volatility changes and leverage effects of the MILA stock markets and their changes since the 2007 global financial crisis. This group integrates the stock markets from Chile, Colombia, Mexico and Peru. Volatility changes and leverage effects are tested with a symmetric GARCH (1,1) and asymmetric TARCH (1,1) models with a dummy variable in the variance equation. Daily closing prices of the stock indexes of Chile (IPSA), Colombia (COLCAP), Mexico (IPC) and Peru (IGBVL) are examined for the period 2003:01 to 2015:02. The evidence confirms the presence of an overall increase in asymmetric market volatility in the Peruvian share market since the 2007 crisis.

Keywords: financial crisis, Latin American Integrated Market, TARCH, GARCH

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Authors: Debdut Roy, Vidyasagar Guggilla

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In this research, we highlight our exploratory work on modified zeolite based catalysts for catalytic cracking of hydrocarbons for production of light olefin i.e. ethylene and propylene. The work is focused on understanding the catalyst structure and activity correlation. Catalysts are characterized by surface area and pore size distribution analysis, inductively coupled plasma optical emission spectrometry (ICP-OES), Temperature Programmed Desorption (TPD) of ammonia, pyridine Fourier transform infrared spectroscopy (FTIR), X-ray diffraction (XRD), Thermo-gravimetric Analysis (TGA) and correlated with the catalytic activity. It is observed that the yield of lighter olefins increases with increase of Bronsted acid strength.

Keywords: catalytic cracking, zeolite, propylene, structure-activity correlation

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Authors: Vishal A. S. Salelkar, Sumitra S. Kandolkar

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Golden ratio (ф) or Golden mean or Golden section, as it is often referred to, is a proportion or a mean, which is often used by architects while conceiving the aesthetics of a structure. Golden Ratio (ф) is an irrational number that can be roughly rounded to 1.618 and is derived out of quadratic equation x2-x-1=0. The use of Golden Ratio (ф) can be observed throughout history, as far as ancient Egyptians, which later peaked during the Greek golden age. The use of this design technique is very much prevalent. At present, architects around the world prefer this as one of the primary techniques to decide aesthetics. In this study, an analysis has been performed to investigate whether the use of the golden ratio while planning a structure has any effects on the seismic behavior of the structure. The structure is modeled and analyzed on ETABS (by Computers and Structures, Inc.) for Seismic requirements equivalent to Zone III (Region: Goa-India) as per Indian Standard Code IS-1893. The results were compared to that of an identical structure modeled along the lines of normal design philosophy, not using the Golden Ratio tools. The results were then compared for Story Shear, Story Drift, and Story Displacement Readings. Improvement in performance, although slight, but was observed. Similar improvements were also observed in subsequent iterations, performed using time-acceleration data of previous major earthquakes matched to Zone III as per IS-1893.

Keywords: ETABS, golden ratio, seismic design, structural behavior

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Authors: Jollen Dai, Truman You, Xinyun Du, Katrina Liu

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Transportation is one of the leading sources of greenhouse gas emissions (GHG). Thus, to meet the Paris Agreement 2015, all countries must adopt a different and more sustainable transportation system. From bikes to Maglev, the world is slowly shifting to sustainable transportation. To develop a utility public transit system, a sustainable web of buses must be implemented. As of now, only a handful of cities have adopted a detailed plan to implement a full fleet of e-buses by the 2030s, with Shenzhen in the lead. Every change requires a detailed plan and a focused analysis of the impacts of the change. In this report, the economic implications and financial implications have been taken into consideration to develop a well-rounded 10-year plan for New York City. We also apply the same financial model to the other cities, LA and Chicago. We picked NYC, Chicago, and LA to conduct the comparative NPB analysis since they are all big metropolitan cities and have complex transportation systems. All three cities have started an action plan to achieve a full fleet of e-bus in the decades. Plus, their energy carbon footprint and their energy price are very different, which are the key factors to the benefits of electric buses. Using TCO (Total Cost Ownership) financial analysis, we developed a model to calculate NPB (Net Present Benefit) /and compare EBS (electric buses) to DBS (diesel buses). We have considered all essential aspects in our model: initial investment, including the cost of a bus, charger, and installation, government fund (federal, state, local), labor cost, energy (electricity or diesel) cost, maintenance cost, insurance cost, health and environment benefit, and V2G (vehicle to grid) benefit. We see about $1,400,000 in benefits for a 12-year lifetime of an EBS compared to DBS provided the government fund to offset 50% of EBS purchase cost. With the government subsidy, an EBS starts to make positive cash flow in 5th year and can pay back its investment in 5 years. Please remember that in our model, we consider environmental and health benefits, and every year, $50,000 is counted as health benefits per bus. Besides health benefits, the significant benefits come from the energy cost savings and maintenance savings, which are about $600,000 and $200,000 in 12-year life cycle. Using linear regression, given certain budget limitations, we then designed an optimal three-phase process to replace all NYC electric buses in 10 years, i.e., by 2033. The linear regression process is to minimize the total cost over the years and have the lowest environmental cost. The overall benefits to replace all DBS with EBS for NYC is over $2.1 billion by the year of 2033. For LA, and Chicago, the benefits for electrification of the current bus fleet are $1.04 billion and $634 million by 2033. All NPB analyses and the algorithm to optimize the electrification phase process are implemented in Python code and can be shared.

Keywords: financial modeling, total cost ownership, net present benefits, electric bus, diesel bus, NYC, LA, Chicago

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Authors: K. B. Ghazaryan, R. A. Ghazaryan

Abstract:

Based on the constitutive model and anti-plane equations of anisotropic elastic body of monoclinic symmetry we consider the problem of shear wave propagation in multi-layered disordered composite structure with point defect. Using transfer matrix method the analytic expression is obtained providing solutions of shear Floquet wave propagation in periodic disordered anisotropic structure. The usefulness of the obtained analytical expression was discussed also in reflection and refraction problems from multi-layered reflector as well as in vibration problem of multi-layered waveguides. Numerical results are presented highlighting the effects arising in disordered periodic structure due to defects of multi-layered structure.

Keywords: shear elastic waves, monoclinic anisotropic media, periodic structure, disordered multilayer laminae, multi-layered waveguide

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Authors: B. Poorna Chander

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Urban centre is one of the most important parts of the city where all the community activities take place. They are the active zones which enhance the structure of a city. The structure of the city refers to its form, mobility patterns, and concentration of people and lifestyles of people. The purpose of the research paper is to study how does the character or structure of city changes when a new centre is established. An attempt has been made to understand this by studying how the formation of centre has been changing the form or the structure of the city since the ancient times, what are the notions of a city and a centre by various architects, by studying the various models of the future city proposed by them. And then the data has been linked to how the formation of the new centres is changing the city. As the demands of the city are increasing, it also regulates how the new centres are formed. So both, the city and the centre are interdependent on each other.

Keywords: centre, activities, lifestyles, people, form

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Authors: Hamed Alipour-Banaei, Farhad Mehdizadeh

Abstract:

We report the design and characterization of ultra high quality factor filter based on one-dimensional photonic-crystal Thue-Morse sequence structure. The behavior of aperiodic array of photonic crystal structure is numerically investigated and we show that by changing the angle of incident wave, desired wavelengths could be tuned and a tunable filter is realized. Also it is shown that high quality factor filter be achieved in the telecommunication window around 1550 nm, with a device based on Thue-Morse structure. Simulation results show that the proposed structure has a quality factor more than 100000 and it is suitable for DWDM communication applications.

Keywords: Thue-Morse, filter, quality factor, photonic

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Authors: Paolo Biancone, Silvana Secinaro, Davide Calandra

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This study explores the integration of Islamic finance principles with environmental, social, and governance (ESG) criteria, focusing on the contribution of Islamic financial instruments to achieving sustainable development goals (SDGs). Through a systematic literature review (SLR) and bibliometric analysis of 66 documents from 2019 to 2024, the research addresses critical gaps by examining the alignment between Islamic finance and ESG, identifying emerging trends, and assessing operational challenges and opportunities. Findings indicate that Islamic finance, mainly through instruments such as green sukuk and Islamic microfinance, demonstrates substantial alignment with ESG objectives, anchored in its ethical principles of risk-sharing, fairness, and avoidance of harmful investments. Nevertheless, scalability and regulatory structures pose significant challenges to broader ESG adoption within Islamic finance. This study offers theoretical and practical implications, proposing that Islamic finance provides a solid framework to address sustainability shortcomings in conventional finance. Furthermore, it highlights future research directions, emphasizing the need for empirical studies on the long-term impact of Islamic financial products on sustainability outcomes and exploring the role of fintech in ESG integration.

Keywords: Islamic finance, ESG, SDGs, bibliometric analysis, Shariah-compliant investments

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Authors: H. Nikzad, S. Yoshitomi

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This study investigates and develops the structural optimization method. The effect of size constraints on practical solution of reinforced concrete (RC) building structure with shear wall is proposed. Cross-sections of beam and column, and thickness of shear wall are considered as design variables. The objective function to be minimized is total cost of the structure by using a simple and efficient automated MATLAB platform structural optimization methodology. With modification of mathematical formulations, the result is compared with optimal solution without size constraints. The most suitable combination of section sizes is selected as for the final design application based on linear static analysis. The findings of this study show that defining higher value of upper bound of sectional sizes significantly affects optimal solution, and defining of size constraints play a vital role in finding of global and practical solution during optimization procedures. The result and effectiveness of proposed method confirm the ability and efficiency of optimal solutions for 3D RC shear wall-frame structure.

Keywords: structural optimization, linear static analysis, ETABS, MATLAB, RC shear wall-frame structures

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Authors: Naoum Mylonas, Eugenia Petridou

Abstract:

Objectives: The objectives of this research are firstly, to develop an integrated model of predicting factors to new ventures performance, taking into account certain issues and specificities related to creative industry and female entrepreneurship based on the prior research; secondly, to determine the appropriate measures of venture performance in a creative industry context, drawing upon previous surveys; thirdly, to illustrate the importance of entrepreneurial orientation, networking ties, environment dynamism and access to financial capital on new ventures performance. Prior Work: An extant review of the creative industry literature highlights the special nature of entrepreneurship in this field. Entrepreneurs in creative industry share certain specific characteristics and intensions, such as to produce something aesthetic, to enrich their talents and their creativity, and to combine their entrepreneurial with their artistic orientation. Thus, assessing venture performance and success in creative industry entails an examination of how creative people or artists conceptualize success. Moreover, female entrepreneurs manifest more positive attitudes towards sectors primarily based on creativity, rather than innovation in which males outbalance. As creative industry entrepreneurship based mainly on the creative personality of the creator / artist, a high interest is accrued to examine female entrepreneurship in the creative industry. Hypotheses development: H1a: Female entrepreneurs who are more entrepreneurially-oriented show a higher financial performance. H1b: Female entrepreneurs who are more artistically-oriented show a higher creative performance. H2: Female entrepreneurs who have personality that is more creative perform better. H3: Female entrepreneurs who participate in or belong to networks perform better. H4: Female entrepreneurs who have been consulted by a mentor perform better. Η5a: Female entrepreneurs who are motivated more by pull-factors perform better. H5b: Female entrepreneurs who are motivated more by push-factors perform worse. Approach: A mixed method triangulation design has been adopted for the collection and analysis of data. The data are collected through a structured questionnaire for the quantitative part and through semi-structured interviews for the qualitative part as well. The sample is 293 Greek female entrepreneurs in the creative industry. Main findings: All research hypotheses are accepted. The majority of creative industry entrepreneurs evaluate themselves in creative performance terms rather than financial ones. The individuals who are closely related to traditional arts sectors have no EO but also evaluate themselves highly in terms of venture performance. Creative personality of creators is appeared as the most important predictor of venture performance. Pull factors in accordance with our hypothesis lead to higher levels of performance compared to push factors. Networking and mentoring are viewed as very important, particularly now during the turbulent economic environment in Greece. Implications-Value: Our research provides an integrated model with several moderating variables to predict ventures performance in the creative industry, taking also into account the complicated nature of arts and the way artists and creators define success. At the end, the findings may be used for the appropriate design of educational programs in creative industry entrepreneurship. This research has been co-financed by the European Union (European Social Fund – ESF) and Greek national funds through the Operational Program "Education and Lifelong Learning" of the National Strategic Reference Framework (NSRF) - Research Funding Program: Heracleitus II. Investing in knowledge society through the European Social Fund.

Keywords: venture performance, female entrepreneurship, creative industry, networks

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