Search results for: European option pricing

Authors: John Goodhue, Xiaonan Wei

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Current legal decisions and policies regarding the naming as artificial intelligence as inventor are reviewed with emphasis on the recent decisions by the European Patent Office regarding the DABUS inventions holding that an artificial intelligence machine cannot be an inventor. Next, a set of hypotheticals is introduced and examined to better understand how artificial intelligence might be used to create or assist in creating new inventions and how application of existing or proposed changes in the law would affect the ability to protect these inventions including due to restrictions on artificial intelligence for being named as inventors, ownership of inventions made by artificial intelligence, and the effects on legal standards for inventiveness or obviousness.

Keywords: Artificial intelligence, innovation, invention, patent

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Authors: Oibar Martinez, Clara Oliver

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The Cherenkov Telescope Array Project (CTA) aims to build two different observatories of Cherenkov Telescopes, located in Cerro del Paranal, Chile, and La Palma, Spain. These facilities are used in this paper as a case study to investigate how to apply standard Directives on Electromagnetic Compatibility to astronomical observatories. Cherenkov Telescopes are able to provide valuable information from both Galactic and Extragalactic sources by measuring Cherenkov radiation, which is produced by particles which travel faster than light in the atmosphere. The construction requirements demand compliance with the European Electromagnetic Compatibility Directive. The largest telescopes of these observatories, called Large Scale Telescopes (LSTs), are high precision instruments with advanced photomultipliers able to detect the faint sub-nanosecond blue light pulses produced by Cherenkov Radiation. They have a 23-meter parabolic reflective surface. This surface focuses the radiation on a camera composed of an array of high-speed photosensors which are highly sensitive to the radio spectrum pollution. The camera has a field of view of about 4.5 degrees and has been designed for maximum compactness and lowest weight, cost and power consumption. Each pixel incorporates a photo-sensor able to discriminate single photons and the corresponding readout electronics. The first LST is already commissioned and intends to be operated as a service to Scientific Community. Because of this, it must comply with a series of reliability and functional requirements and must have a Conformité Européen (CE) marking. This demands compliance with Directive 2014/30/EU on electromagnetic compatibility. The main difficulty of accomplishing this goal resides on the fact that Conformité Européen marking setups and procedures were implemented for industrial products, whereas no clear protocols have been defined for scientific installations. In this paper, we aim to give an answer to the question on how the directive should be applied to our installation to guarantee the fulfillment of all the requirements and the proper functioning of the telescope itself. Experts in Optics and Electromagnetism were both needed to make these kinds of decisions and match tests which were designed to be made over the equipment of limited dimensions on large scientific plants. An analysis of the elements and configurations most likely to be affected by external interferences and those that are most likely to cause the maximum disturbances was also performed. Obtaining the Conformité Européen mark requires knowing what the harmonized standards are and how the elaboration of the specific requirement is defined. For this type of large installations, one needs to adapt and develop the tests to be carried out. In addition, throughout this process, certification entities and notified bodies play a key role in preparing and agreeing the required technical documentation. We have focused our attention mostly on the technical aspects of each point. We believe that this contribution will be of interest for other scientists involved in applying industrial quality assurance standards to large scientific plant.

Keywords: CE marking, electromagnetic compatibility, european directive, scientific installations

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Authors: Alexis Naranjo

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In the current global stage, a new sense and mix feelings against the globalization has started to take shape thanks to events such as Brexit and the 2016 US election. The perceptions towards the globalization have started to focus in a resistance movement called the 'anti-globalization movement'. This paper examines the current global stage vs. leadership decisions in a time when market integrations are not longer seeing as an opportunity for an economic growth buster. The biggest economy in the world the United States of America has started to face a new beginning of something called 'anti-globalization', in the current global stage starting with the United Kingdom to the United States a new strategy to help local economies has started to emerge. A new nationalist movement has started to focus on their local economies which now represents a direct threat to the globalization, trade agreements, wages and free markets. Business leaders of multinationals now in our days face a new dilemma, how to address the feeling that globalization and outsourcing destroy and take away jobs from local economies. The initial perception of the literature and data rebels that companies in Western countries like the US sees many risks associate with outsourcing, however, saving cost associated with outsourcing is greater than the firm’s local reputation. Starting with India as a good example of a supplier of IT developers, analysts and call centers we can start saying that India is an industrialized nation which has not yet secured its spot and title. India has emerged as a powerhouse in the outsource industry, which makes India hold the number one spot in the world to outsource IT services. Thanks to the globalization of economies and markets around the globe that new ideas to increase productivity at a lower cost has been existing for years and has started to offer new ideas and options to businesses in different industries. The economic growth of the information technology (IT) industry in India is an example of the power of the globalization which in the case of India has been tremendous and significant especially in the economic arena. This research paper concentrates in understand the behavior of business leaders: First, how multinational’s leaders will face the new challenges and what actions help them to lead in turbulent times. Second, if outsourcing or withdraw from a market is an option what are the consequences and how you communicate and negotiate from the business leader perspective. Finally, is the perception of leaders focusing on financial results or they have a different goal? To answer these questions, this study focuses on the most recent data available to outline and present the findings of the reason why outsourcing is and option and second, how and why those decisions are made. This research also explores the perception of the phenomenon of outsourcing in many ways and explores how the globalization has contributed to its own questioning.

Keywords: anti-globalization, globalization, leadership, outsourcing

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Authors: Philemon Rakoto

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This paper tests the improvement of financial reporting quality when firms award stock options to their executives. The originality of this study is that we introduce the moderating effect of business ethics in the model. The sample is made up of 116 Canadian high-technology firms with available data for the fiscal year ending in 2012. We define the quality of financial reporting as the value relevance of accounting information as developed by Ohlson. Our results show that executive stock option award alone does not improve the quality of financial reporting. Rather, the quality improves when a firm awards stock options to its executives and investors perceive that the level of business ethics in that firm is high.

Keywords: business ethics, Canada, high-tech firms, stock options, value relevance

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Authors: Irina-Emily Hansen, Ola Jon Mork

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The European economic growth strategy and supporting it framework for research and innovation highlight the importance of nurturing new open innovation in order to strengthen Europe’s competitiveness. One of the main approaches to enhance innovation in European society is the Triple Helix model that centres on science- industry collaboration where the universities are assigned the managerial role. In spite of the defined collaboration strategy, the collaboration between academics and in-dustry in Europe has still many challenges. Many of them are explained by culture difference: academic culture aims towards scientific knowledge, while businesses are oriented towards pro-duction and profitable results; also execution of collaborative projects is seen differently by part-ners involved. That proves that traditional management strategies applied to collaboration between researchers and businesses are not effective. There is a need for dynamic strategies that can support the interaction between researchers and industry intensifying knowledge co-creation and contributing to development of national innovation system (NIS) by incorporating individual, organizational and inter-organizational learning. In order to find a good subject to follow, the researchers of a given paper have investigated one of the most rapidly developing knowledge-based, innovation society, Singapore. Singapore does not dispose much land- or sea- resources that normally provide income for any country. Therefore, Singapore was forced to think differently and build society on resources that are available: talented people and knowledge. Singapore has during the last twenty years developed attracting high rated university camps, research institutions and leading industrial companies from all over the world. This article elucidates and elaborates Singapore’s national innovation strategies from Knowledge Management perspective. The research is done on the variety of organizations that enable and support knowledge development in this state: governmental research and development (R&D) centers in universities, private talent incubators for entrepreneurs, and industrial companies with own R&D departments. The research methods are based on presentations, documents, and visits at a number of universities, research institutes, innovation parks, governmental institutions, industrial companies and innovation exhibitions in Singapore. In addition, a literature review of science articles is made regarding the topic. The first finding is that objectives of collaboration between researchers, entrepreneurs and industry in Singapore correspond primary goals of the state: knowledge- and economy growth. There are common objectives for all stakeholders on all national levels. The second finding is that Singapore has enabled system on a national level that supports innovation the entire way from fostering or capturing the new knowledge, providing knowledge exchange and co-creation to application of it in real-life. The conclusion is that innovation means not only new idea, but also the enabling mechanism for its execution and the marked-oriented approach in order that new knowledge can be absorbed in society. The future research can be done with regards to application of Singapore knowledge management strategy in innovation to European countries.

Keywords: knowledge management strategy, national innovation system, research industry and business collaboration, knowledge enabling

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Authors: Shona Tritt, William Cunningham

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Our study examines whether teaching effectiveness is perceived differently in online versus traditional classroom contexts. To do so, we analyzed teaching evaluations from courses that were offered as web options and as in-person classes simultaneously at the University of [removed for blinding] (N=87). Although teaching evaluations were on average lower for larger classes, we found that learning context (traditional versus online) moderated this effect. Specifically, we found a crossover effect such that in relatively smaller classes, teaching was perceived to be more effective in-person versus online, whereas, in relatively larger classes, teaching was perceived to be more effective when engaged online versus in-person.

Keywords: teaching evaluations, teaching effectiveness, e-learning, web-option

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Authors: Rajendra Kumar Isaac, Monisha Isaac

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India, having a vast cultivable area and regional climatic variability, encounters water Resource Management Problems at various levels. The agricultural production of India needs to be increased to meet out projected population growth. Sustainable water resource is the only option to ensure food security, especially in northern Indian states, where the ground and surface water resources are fast depleting. Various tools and technologies available for management of scarce water resources have been discussed. It was concluded that multiple use of water, adopting latest water management options, identification of climate adoptable cropping and farming systems, can enhance water productivity and would encounter the fast growing water management and water shortage problems in Indian agriculture.

Keywords: water resource management, sustainable, water management technologies, water productivity, agriculture

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Authors: Konstancja Syller

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International law and European regulations remain hardly silent about the admissibility of evidence obtained illegally in a criminal trial. However, Article 6 of the European Convention on Human Rights guarantees the right to a fair trial, it does not normalise a proceeding status of specified sources or means of proof outright. Therefore, it is the preserve of national legislation and national law enforcement authorities to decide on this matter. In most countries, especially in Germany and Poland, a rather complex normative approach to the issue of proof obtained in violation of the right to privacy is evident, which pursues in practise to many interpretive doubts. In Germany the jurisprudence has a significant impact within the range of the matter mentioned above. The Constitutional Court and the Supreme Court of Germany protect the right to privacy quite firmly - they ruled on inadmissibility of obtaining a proof in the form of a diary or a journal as a protection measure of constitutional guaranteed right. At the same time, however, the Supreme Court is not very convinced with reference to the issue of whether materials collected as a result of an inspection, call recordings or listening to the premises, which were carried out in breach of law, can be used in a criminal trial. Generally speaking, German courts indicate a crucial importance of the principle of Truth and the principle of proportionality, which both enable a judgement to be made as to the possibility of using an evidence obtained unlawfully. Comparing, in Poland there is almost no jurisprudence of the Constitutional Tribunal relating directly to the issue of illegal evidence. It is somehow surprising, considering the doctrinal analysis of the admissibility of using such proof in a criminal trial is performed in relation to standards resulted from the Constitution. Moreover, a crucial de lega lata legal provision, which enables allowing a proof obtained in infringement of the provisions in respect of criminal proceedings or through a forbidden act, is widely criticised within the legal profession ant therefore many courts give it their own interpretation at odds with legislator’s intentions. The comparison of two civil law legal systems’ standards regarding to the admissibility of an evidence obtained in contravention of the right to privacy in a criminal trial, taking also into account EU legislation and judicature, is the conclusive aim of this article.

Keywords: criminal trial, evidence, Germany, right to privacy, Poland

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Authors: Ahmad B. Musamih, Ahmad A. Albloushi, Ahmed H. Alshemeili, Abdulaziz Y. Alfili, Ala A. Hussien

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This paper proposes a universal wireless battery charger design for portable electronic devices. As the number of portable electronics devices increases, the demand for more flexible and reliable charging techniques is becoming more urgent. A wireless battery charger differs from a traditional charger in the way the power transferred to the battery. In the latter, the power is transferred through electrical wires that connect the charger terminals to the battery terminals, while in the former; the power is transferred by induction without electrical connections. With a detection algorithm that detects the battery size and chemistry, the proposed charger will be able to accommodate a wide range of applications, and will allow a more flexible and reliable option to most of today’s portable electronics.

Keywords: efficiency, magnetically-coupled resonators, resonance frequency, wireless power transfer

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Authors: Oscar Vega Camacho, Andrea Vargas, Ellery Ariza

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This paper presents the application of finite dynamic programming, specifically the "Markov Chain" model, as part of the decision making process of a company in the cosmetics sector located in the vicinity of Bogota DC. The objective of this process was to decide whether the company should completely reconstruct its waste water treatment plant or instead optimize the plant through the addition of equipment. The goal of both of these options was to make the required improvements in order to comply with parameters established by national legislation regarding the treatment of waste before it is released into the environment. This technique will allow the company to select the best option and implement a solution for the processing of waste to minimize environmental damage and the acquisition and implementation costs.

Keywords: decision making, markov chain, optimization, waste water

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Authors: Noor-ul-Ain, Muhammad Thair Khan, Adeela Ajmal, Hamid Mustafa

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Pakistan is an agricultural country and livestock only share 11.8 percent to national GDP during 2015-16. Pakistan is a 3rd largest milk producing country having 41.2, 35.6, 29.4, 68.4 and 1.0 million head cattle, buffalo, sheep, goat and camel, respectively. Modern urbanization and shortage of feed resources for livestock species in a country is an alarming threat. The introduction of new technology and advanced techniques solve this issue. This includes drought feeding, increase production, aid to crop management, balance nutrition and easily storaged of wet feed products. It is therefore clear that silage has important role in animal feed and feeding. Financial model of this study clear the effectiveness of silage. Therefore, it is revealed from this study that silage is a cost-effective option for a profitable dairy farming in Pakistan.

Keywords: feed, silage, dairy, production, Pakistan

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Authors: Yousef Abu Amrieh

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This paper explores how Arab American novelist Rabih Alameddine's recent novel The Angel of History (2016) appropriates certain motifs, tropes, and themes from Shakespeare's The Tempest. In particular, Alameddine's novel re-tells the story of Caliban and his mother from the perspective of a Yemeni bastard whose mis/fortunes take him to the US shores in the eighties of the previous century. The novel, specifically, re-writes the scene in which Caliban is gazed at by European travelers like Stephano and Trinculo whose first reaction to seeing him is to consider how to sell him or give him as a gift when they safely return to Europe. The novel contests Shakespeare's representation of Caliban as 'marketable' through depicting his daily experiences in modern day America.

Keywords: appropriation, Alameddine, Shakespeare, The Tempest

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Authors: David N. Prihoda

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This paper charts the history of the English word Tempest from its origins in Proto-Indo European to its modern usage as a term for storms, both literal and metaphorical. It does so by way of considering the word’s morphology, semiotics, and phonetics. It references numerous language studies and dictionaries to chronicle the word’s many steps along that path, from demarcation of measurement to assessment of time, all the way to an observation about the weather or the human psyche. The conclusive findings show that tempest has undergone numerous changes throughout its history, and these changes interestingly parallel its connotations as a symbol for both chaotic weather and the chaos of the human spirit

Keywords: Tempest, etymology, language origins, English

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Authors: Francesca Fermi, Paola Astegiano, Angelo Martino, Stephanie Heitel, Michael Krail

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In order to achieve the targeted emission reductions for the decarbonisation of the European economy by 2050, fundamental contributions are required from both energy and transport sectors. The objective of this paper is to analyse the impacts of a largescale diffusion of e-vehicles, either battery-based or fuel cells, together with the implementation of transport policies aiming at decreasing the use of motorised private modes in order to achieve greenhouse gas emission reduction goals, in the context of a future high share of renewable energy. The analysis of the impacts and challenges of future scenarios on transport sector is performed with the ASTRA (ASsessment of TRAnsport Strategies) model. ASTRA is a strategic system-dynamic model at European scale (EU28 countries, Switzerland and Norway), consisting of different sub-modules related to specific aspects: the transport system (e.g. passenger trips, tonnes moved), the vehicle fleet (composition and evolution of technologies), the demographic system, the economic system, the environmental system (energy consumption, emissions). A key feature of ASTRA is that the modules are linked together: changes in one system are transmitted to other systems and can feed-back to the original source of variation. Thanks to its multidimensional structure, ASTRA is capable to simulate a wide range of impacts stemming from the application of transport policy measures: the model addresses direct impacts as well as second-level and third-level impacts. The simulation of the different scenarios is performed within the REFLEX project, where the ASTRA model is employed in combination with several energy models in a comprehensive Modelling System. From the transport sector perspective, some of the impacts are driven by the trend of electricity price estimated from the energy modelling system. Nevertheless, the major drivers to a low carbon transport sector are policies related to increased fuel efficiency of conventional drivetrain technologies, improvement of demand management (e.g. increase of public transport and car sharing services/usage) and diffusion of environmentally friendly vehicles (e.g. electric vehicles). The final modelling results of the REFLEX project will be available from October 2018. The analysis of the impacts and challenges of future scenarios is performed in terms of transport, environmental and social indicators. The diffusion of e-vehicles produces a consistent reduction of future greenhouse gas emissions, although the decarbonisation target can be achieved only with the contribution of complementary transport policies on demand management and supporting the deployment of low-emission alternative energy for non-road transport modes. The paper explores the implications through time of transport policy measures on mobility and environment, underlying to what extent they can contribute to a decarbonisation of the transport sector. Acknowledgements: The results refer to the REFLEX project which has received grants from the European Union’s Horizon 2020 research and innovation program under Grant Agreement No. 691685.

Keywords: decarbonisation, greenhouse gas emissions, e-mobility, transport policies, energy

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Authors: Carlo Gozzelino

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Since the early 2000s, the phenomenon of the two-sided markets has been of growing interest in academic literature as such kind of markets differs by having cross-side network effects and same-side network effects characterizing the transactions, which make the analysis different when compared to traditional seller-buyer concept. Due to such externalities, pricing strategies can be based on subsidizing the participation of one side (i.e. considered key for the platform to attract the other side) while recovering the loss on the other side. In recent years, several players of the Italian financial intermediation industry moved from an integrated landscape (i.e. selling their own products) to an open one (i.e. intermediating third party products). According to academic literature such behavior can be interpreted as a merchant move towards a platform, operating in a two-sided market environment. While several application of two-sided market framework are available in academic literature, purpose of this paper is to use a two-sided market concept to suggest a new framework applied to financial intermediation. To this extent, a model is developed to show how competitors behave when vertically integrated and how the peculiarities of a two-sided market act as an incentive to disintegrate. Additionally, we show that when all players act as a platform, the dynamics of a two-sided markets can allow at least a Nash equilibrium to exist, in which platform of different sizes enjoy positive profit. Finally, empirical evidences from Italian market are given to sustain – and to challenge – this interpretation.

Keywords: financial intermediation, network externalities, two-sided markets, vertical differentiation

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Authors: Reinhard Haas, Amela Ajanovic

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In recent years especially electricity generation from intermittent sources like wind and solar has increased remarkably. To balance electricity supply over time calls for storages has been launched. Because intermittency also exists over longer periods – months, years, especially the need for long-term electricity storages is discussed. The major conclusions of our analysis are: (i) Despite many calls for a prophylactic construction of new storage capacities with respect to all centralized long-term storage technologies the future perspectives will be much less promising than currently indicated in several papers and discussions; (ii) new long term hydro storages will not become economically attractive in general in the next decades; however, daily storages will remain the cheapest option and the most likely to be competitive; (iii) For PtG-technologies it will also become very hard to compete in the electricity markets despite a high technological learning potential. Yet, for hydrogen and methane there are prospects for use in the transport sector.

Keywords: storages, electricity markets, power-to-gas, hydro pump storages, economics

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Authors: Sundaresan Soundararajan, George Ezekiel Silvananthan, Chor Ngee Tan

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Introduction: Transforaminal Interbody Fusion (TLIF) has been adopted for many decades now, however, XLIF, still in relative infancy, has grown to be accepted as a new Minimally Invasive Surgery (MIS) option. There is a paucity of reports directly comparing lateral approach surgery to other MIS options such as TLIF in the treatment of lumbar degenerative disc diseases. Aims/Objectives: The objective of this study was to compare the efficacy and clinical outcomes between Minimally Invasive Transforaminal Interbody Fusion (TLIF) and Minimally Invasive Lateral Interbody Fusion (XLIF) in the treatment of patients with degenerative disc disease of the lumbar spine. Methods: A single center, retrospective cohort study involving a total of 38 patients undergoing surgical intervention between 2010 and 2013 for degenerative disc disease of lumbar spine at single L4/L5 level. 18 patients were treated with MIS TLIF, and 20 patients were treated with XLIF. Results: The XLIF group showed shorter duration of surgery compared to the TLIF group (176 mins vs. 208.3 mins, P = 0.03). Length of hospital stay was also significantly shorter in XLIF group (5.9 days vs. 9 days, p = 0.03). Intraoperative blood loss was favouring XLIF as 85% patients had blood loss less than 100cc compared to 58% in the TLIF group (P = 0.03). Radiologically, disc height was significantly improved post operatively in the XLIF group compared to the TLIF group (0.56mm vs. 0.39mm, P = 0.01). Foraminal height increment was also higher in the XLIF group (0.58mm vs. 0.45mm , P = 0.06). Clinically, back pain and leg pain improved in 85% of patients in the XLIF group and 78% in the TLIF group. Post op hip flexion weakness was more common in the XLIF group (40%) than in the TLIF group (0%). However, this weakness resolved within 6 months post operatively. There was one case of dural tear and surgical site infection in the TLIF group respectively and none in the XLIF group. Visual Analog Scale (VAS) score 6 months post operatively showed comparable reduction in both groups. TLIF group had Owsterty Disability Index (ODI) improvement on 67% while XLIF group showed improvement of 70% of its patients. Conclusions: Lateral approach surgery shows comparable clinical outcomes in resolution of back pain and radiculopathy to conventional MIS techniques such as TLIF. With significantly shorter duration of surgical time, minimal blood loss and shorter hospital stay, XLIF seems to be a reasonable MIS option compared to other MIS techniques in treating degenerative lumbar disc diseases.

Keywords: extreme lateral interbody fusion, lateral approach, minimally invasive, XLIF

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Authors: Joanna K. Konstantinou

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The aim of this study is to explore the need of small and medium-sized businesses in tourism and hospitality industry to adopt technology and enhance their degree of digitalization, along with the main benefits enjoyed by technology and the main challenges that hinder its adoption. Within a hermeneutic phenomenological perspective, semi-structured interviews were conducted with three hotel owners and the focus was to identify the main reasons of adoption of technology, enablers and barriers. The findings were grouped with the goal of identifying typology of business practices in using and adopting technology.

Keywords: digitization, SMEs, tourism and hospitality, challenges, benefits

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Authors: Débora C. Mendes, Matthias Eckert, Cláudia S. Moço, Hélio Martins, Jean-Pierre P. Gonçalves, Miguel Oliveira, José P. Da Silva

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Uncontrolled disposal of construction and demolition waste (C & DW) in embankments in the periphery of cities causes both environmental and social problems, namely erosion, deforestation, water contamination and human conflicts. One of the milestones of EU Horizon 2020 Programme is the management of waste as a resource. To achieve this purpose for C & DW, a detailed analysis of the properties of these materials should be done. In this work we report the physical, chemical and environmental properties of C & DW aggregates from 25 different origins. The results are compared with those of common natural aggregates used in construction. Assays were performed according to European Standards. Additional analysis of heavy metals and organic compounds such as polycyclic aromatic hydrocarbons (PAHs) and polychlorinated biphenyls (PCBs), were performed to evaluate their environmental impact. Finally, properties of concrete prepared with C & DW aggregates are also reported. Physical analyses of C & DW aggregates indicated lower quality properties than natural aggregates, particularly for concrete preparation and unbound layers of road pavements. Chemical properties showed that most samples (80%) meet the values required by European regulations for concrete and unbound layers of road pavements. Analyses of heavy metals Cd, Cr, Cu, Pb, Ni, Mo and Zn in the C&DW leachates showed levels below the limits established by the Council Decision of 19 December 2002. Identification and quantification of PCBs and PAHs indicated that few samples shows the presence of these compounds. The measured levels of PCBs and PAHs are also below the limits. Other compounds identified in the C&DW leachates include phthalates and diphenylmethanol. In conclusion, the characterized C&DW aggregates show lower quality properties than natural aggregates but most samples showed to be environmentally safe. A continuous monitoring of the presence of heavy metals and organic compounds should be made to trial safe C&DW aggregates. C&DW aggregates provide a good economic and environmental alternative to natural aggregates.

Keywords: concrete preparation, construction and demolition waste, heavy metals, organic pollutants

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Authors: Farangiz Davranbekova

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Subject: The study explores the impact of Over-the-Top services in the sports rights market, focusing on football games. This impact is analysed in the big five European football markets. The research entails how the pay-TV market is combating the disruptors' entry, how the fans are adjusting to these changes and how leagues and football clubs are orienting in the transitional period of more choice. Aims and methods: The research aims to offer a general overview of the impact of OTT players in the football rights market. A theoretical framework of Jenkins’ five layers of convergence is implemented to analyse the transition the sports rights market is witnessing from various angles. The empirical analysis consists of secondary research data as and seven expert interviews from three different clusters. The findings are bound by the combination of the two methods offering general statements. Findings: The combined secondary data as well as expert interviews, conducted on five layers of convergence found: 1. Technological convergence presents that football content is accessible through various devices with innovative digital features, unlike the traditional TV set box. 2. Social convergence demonstrates that football fans multitask using various devices on social media when watching the games. These activities are complementary to traditional TV viewing. 3. Cultural convergence points that football fans have a new layer of fan engagement with leagues, clubs and other fans using social media. Additionally, production and consumption lines are blurred. 4. Economic convergence finds that content distribution is diversifying and/or eroding. Consumers now have more choices, albeit this can be harmful to them. Entry barriers are decreased, and bigger clubs feel more powerful. 5. Global convergence shows that football fans are engaging with not only local fans but with fans around the world that social media sites enable. Recommendation: A study on smaller markets such as Belgium or the Netherlands would benefit the study on the impact of OTT. Additionally, examination of other sports will shed light on this matter. Lastly, once the direct-to-consumer model is fully taken off in Europe, it will be of importance to examine the impact of such transformation in the market.

Keywords: sports rights, OTT, pay TV, football

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Authors: Fernando Valerio-Holguin

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Over the recent three decades, the tourism industry in the Dominican Republic has had an enormous impact on the country’s culture. The arrival of tourists from Germany, France, Italy, Russia and the United States has rewritten Dominican cultural identity and created a cultural palimpsest in the areas of language, gastronomy, habits, fashion, values, and gender relations. As a consequence of tourism, a prostitution network has flourished across the country. In the film Sand Dollars (2015) directed by Laura Amelia Guzmán and Israel Cárdenas, Noelí (Janet Mojica), a young mulatto woman, altogether with her boyfriend (Ricardo Ariel Toribio), strips tourists of dollars and euro through prostitution. One of her frequent clients is Anne, a mature French woman (Geraldine Chaplin). While Noeli’s goal is to get all the euros she can, Anne falls in love with her and tries to bring her to France. Both the content of the film and its cinematographic languages are analyzed in light of theory of coloniality. This concept shows how European and American tourism, through the power of money, perpetuates colonial discourse, i. e., how race and ethnocentrism permeate cultural activities in their former colonies. Moreover, in the content analysis of the film the concepts of exchange value and fetishism are crucial to understanding how the colonial body becomes sexual commodity. They facilitate grasping the film’s inequity in terms of power in the relationship between the two women: the white old European woman and the young, poor, third-world mulatta. Even though the film attempts to break away from compulsory heterosexuality, the power relation between the two women persists due to the presence of the axis of race, ethnicity, age and gender. Both the novel Les dollars des sables written by Jean-Noel Pancrazi, and the film Sand Dollars offer an interesting insight into sex tourism and coloniality and shed additional light on the power relations between the former colonizers and its colonies.

Keywords: coloniality, ethnocentrism, exchange value, Europe, fetishism, money, power, prostitution, sex tourism, United States of America

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Authors: F. Iberraken, R. Medjoudj, D. Aissani

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The development of the smart grids concept is built around two separate definitions, namely: The European one oriented towards sustainable development and the American one oriented towards reliability and security of supply. In this paper, we have investigated reliability merits enabling decision-makers to provide a high quality of service. It is based on system behavior using interruptions and failures modeling and forecasting from one hand and on the contribution of information and communication technologies (ICT) to mitigate catastrophic ones such as blackouts from the other hand. It was found that this concept has been adopted by developing and emerging countries in short and medium terms followed by sustainability concept at long term planning. This work has highlighted the reliability merits such as: Benefits, opportunities, costs and risks considered as consistent units of measuring power customer satisfaction. From the decision making point of view, we have used the analytic hierarchy process (AHP) to achieve customer satisfaction, based on the reliability merits and the contribution of such energy resources. Certainly nowadays, fossil and nuclear ones are dominating energy production but great advances are already made to jump into cleaner ones. It was demonstrated that theses resources are not only environmentally but also economically and socially sustainable. The paper is organized as follows: Section one is devoted to the introduction, where an implicit review of smart grids development is given for the two main concepts (for USA and Europeans countries). The AHP method and the BOCR developments of reliability merits against power customer satisfaction are developed in section two. The benefits where expressed by the high level of availability, maintenance actions applicability and power quality. Opportunities were highlighted by the implementation of ICT in data transfer and processing, the mastering of peak demand control, the decentralization of the production and the power system management in default conditions. Costs were evaluated using cost-benefit analysis, including the investment expenditures in network security, becoming a target to hackers and terrorists, and the profits of operating as decentralized systems, with a reduced energy not supplied, thanks to the availability of storage units issued from renewable resources and to the current power lines (CPL) enabling the power dispatcher to manage optimally the load shedding. For risks, we have razed the adhesion of citizens to contribute financially to the system and to the utility restructuring. What is the degree of their agreement compared to the guarantees proposed by the managers about the information integrity? From technical point of view, have they sufficient information and knowledge to meet a smart home and a smart system? In section three, an application of AHP method is made to achieve power customer satisfaction based on the main energy resources as alternatives, using knowledge issued from a country that has a great advance in energy mutation. Results and discussions are given in section four. It was given us to conclude that the option to a given resource depends on the attitude of the decision maker (prudent, optimistic or pessimistic), and that status quo is neither sustainable nor satisfactory.

Keywords: reliability, AHP, renewable energy resources, smart grids

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Authors: Achinthya Bandara

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The Portuguese were the first known European Nation to colonize Ceylon during the early 16th century. When the Portuguese set sail in the late 15th century towards the East and West, they first landed in Pondicherry (Pondicherry), an eastern coastal location of early India and established their trade in the Indian Oceanic regions. Sri Lanka (Ceylon until 1972) made its first contact with the Portuguese just a few years after they anchored in India, the Luso-Sri Lankan contact was initiated and became prominent across the time, even during the later colonial rules, i.e., Dutch and British. Such connections created a Luso-Asian hybrid culture in Ceylon that shared both Sri Lankan and European identities. Portuguese Creole communities were prominent among them as an ethnic group with Portuguese descent interwoven with local traditions and customs, yet outcast by the mainstream Portuguese colonials. Hugh Nevil, a British Civil Servant who served Ceylon in the early 1800s, had collected a considerable amount of such Luso-Asian Literature belonging to Sri Lankan Portuguese creole communities, including 180 Portuguese creole verses sung by the creole communities in Eastern Sri Lanka. Though the collection was studied to uncover literature traits, few or no known studies focused on the anti-colonial subaltern discourse appearing in the shades of this work. It is evident that these verses contain local anti-colonial ideologies that create a platform to place them as elements of Luso-Asian subaltern literature. This research explores how the language and content of these verses contradict the mainstream colonial ideologies we intend to position within a regional anti-colonial subaltern context. As this is part of a long-term research project that translates the whole collection into Sinhalese and Tamil, this study will show evidence from early 1800s verses to suggest how Luso-Asian communities create a unique subaltern linguistic and literary discourse.

Keywords: Luso Asian creoles, Luso Asian subalterns, anti-colonial ideologies, Sri Lanka Portuguese creole

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Authors: Oscar Vega Camacho, Andrea Vargas Guevara, Ellery Rowina Ariza

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This paper presents the application of finite dynamic programming, specifically the "Markov Chain" model, as part of the decision making process of a company in the cosmetics sector located in the vicinity of Bogota DC. The objective of this process was to decide whether the company should completely reconstruct its wastewater treatment plant or instead optimize the plant through the addition of equipment. The goal of both of these options was to make the required improvements in order to comply with parameters established by national legislation regarding the treatment of waste before it is released into the environment. This technique will allow the company to select the best option and implement a solution for the processing of waste to minimize environmental damage and the acquisition and implementation costs.

Keywords: decision making, Markov chain, optimization, wastewater

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Authors: Baljit Soroya

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Transnational communities are as a consequence of greater mobility of people, globalization and digitization have had a major impact on international relations and diasporas in the context of external conflicts. To a significant extent conflicts are becoming deterritorialised and informed by both internal (state politics) and external (foreign policy) players such as in Iraq and Syria leading to forced migration of unprecedented levels within the last two decades. The situation of forced migrants has, it is suggested, worsened as a consequence of the neo-liberal policies and requirements of organizations such as the European Bank. A case example of this being that of Greece, and the exacerbation of insecurity for Greek nationals and the demonization of refugees seeking sanctuary. This has been as a consequence, in part, of the neoliberal dogma of the European Bank. The article analyses the complex intersection of the real and perceived threats of international terrorism and the manner in which UK migration policy and Practice is unfolding. The policy and practice developments are explored in the context of the shift in politics in both the UK and wider Europe to the far right and the drift of main stream political parties to the right. In many cases, the mainstream political groupings, have co-opted the fears as presented by far right organization for political their own political gains, such as in the UK and France In its analysis it will be argued that, whilst international terrorism is an issue of concern, however in the context of the UK it is not of the same scale as the effects of climate change or indeed domestic violence. Given that, the question has to be asked why the threat of international terrorism is having such an impact on UK migration policy and practice and, specifically refugees. Furthermore, it is argued that this policy and practice are being formulated within a narrative that portrays migrants as the problem both in relation to terrorism and the disenfranchisement of ‘ordinary white communities’. The intersectionality of social, economic inequalities, fear of international terrorism, increase in conflicts and the political climate have contributed to a lack of trust of political establishments that have in turn sought to impress the public with their anti-immigrant rhetoric and policy agendas. The article ends by suggesting that whilst politics and political affiliations have become fractured there are nevertheless spaces for collective action, particularly in relation to issues of refugees.

Keywords: international terrorism, migration policy, conflict, media, community, politics

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Authors: Rohana Pandukabhya Mahaliyanaarachchi, Maheshwari Sangeetha Elapatha, Mohamed Esham, Banagala Chathurika Maduwanthi

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The global climate change has become one of the imperative issues for the smallholder dominated agricultural sector and nature based tourism sector in Sri Lanka. Thus addressing this issue is notably important. The main objective of this study was to investigate the potential of agri-tourism as a sustainable adaptation option to mitigate some of the negative impacts of climate change in small scale agricultural sector in Sri Lanka. The study was carried out in two different climatic zones in Sri Lanka namely Low Country Dry Zone and Up Country Wet Zone. A case study strategy followed by structured and unstructured interviewers through cross-sectional surveys were adapted to collect data. The study revealed that there had been a significant change in the climate in regard to the rainfall patterns in both climatic zones resulting unexpected rains during months and longer drought periods. This results the damages of agricultural production, low yields and subsequently low income. However, to mitigate these adverse effects, farmers have mainly focused on using strategies related to the crops and farming patterns rather than diversifying their business by adopting other entrepreneurial activities like agri-tourism. One of the major precursor for this was due to lesser awareness on the concept of agri-tourism within the farming community. The study revealed that the respondents of both climatic zones do have willingness and potential to adopt agri-tourism. One key important factor identified was that farming or agriculture was the main livelihood of the respondents, which is one of the vital precursor needed to start up an agri-tourism enterprise. Most of the farmers in the Up Country Wet Zone had an inclination to start a farm guest house or a farm home stay whereas the farmers in the Low Country Dry Zone wish to operate farm guest house, farm home stay or farm restaurant. They also have an interest to open up a road side farm product stall to facilitate the direct sales of the farm. Majority of the farmers in both climatic zones showed an interest to initiate an agri-tourism business as a complementary enterprise where they wished to give an equal share to both farming and agri-tourism. Thus this revealed that the farmers have identified agri-tourism as a vital concept and have given the equal importance as given to farming. This shows that most of the farmers have understood agri-tourism as an alternative income source that can mitigate the adverse effects of climatic change. This study emphasizes that agri-tourism as an alternative income source that can mitigate the adverse effects of climatic change on small scale agriculture sector.

Keywords: adaptation, agri-tourism, climate change, small scale agriculture

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Authors: S. Sandri, G. M. Contessa, C. Poggi

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An experimental nuclear fusion device could be seen as a step toward the development of the future nuclear fusion power plant. If compared with other possible solutions to the energy problem, nuclear fusion has advantages that ensure sustainability and security. In particular considering the radioactivity and the radioactive waste produced, in a nuclear fusion plant the component materials could be selected in order to limit the decay period, making it possible the recycling in a new reactor after about 100 years from the beginning of the decommissioning. To achieve this and other pertinent goals many experimental machines have been developed and operated worldwide in the last decades, underlining that radiation protection and workers exposure are critical aspects of these facilities due to the high flux, high energy neutrons produced in the fusion reactions. Direct radiation, material activation, tritium diffusion and other related issues pose a real challenge to the demonstration that these devices are safer than the nuclear fission facilities. In Italy, a limited number of fusion facilities have been constructed and operated since 30 years ago, mainly at the ENEA Frascati Center, and the radiation protection approach, addressed by the national licensing requirements, shows that it is not always easy to respect the constraints for the workers' exposure to ionizing radiation. In the current analysis, the main radiation protection issues encountered in the Italian Fusion facilities are considered and discussed, and the technical and legal requirements are described. The licensing process for these kinds of devices is outlined and compared with that of other European countries. The following aspects are considered throughout the current study: i) description of the installation, plant and systems, ii) suitability of the area, buildings, and structures, iii) radioprotection structures and organization, iv) exposure of personnel, v) accident analysis and relevant radiological consequences, vi) radioactive wastes assessment and management. In conclusion, the analysis points out the needing of a special attention to the radiological exposure of the workers in order to demonstrate at least the same level of safety as that reached at the nuclear fission facilities.

Keywords: fusion facilities, high energy neutrons, licensing process, radiation protection

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Authors: Yiseyon Hosu, Joseph Akande

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Wheat is one of the most important staple food grains of human for centuries and is largely consumed in South Africa. It has a special place in the South African economy because of its significance in food security, trade, and industry. This paper modelled and forecast the production and consumption of wheat in South Africa in the time covid-19 and the ongoing Russia-Ukraine war by using annual time series data from 1940–2021 based on the ARIMA models. Both the averaging forecast and selected models forecast indicate that there is the possibility of an increase with respect to production. The minimum and maximum growth in production is projected to be between 3million and 10 million tons, respectively. However, the model also forecast a possibility of depression with respect to consumption in South Africa. Although Covid-19 and the war between Ukraine and Russia, two major producers and exporters of global wheat, are having an effect on the volatility of the prices currently, the wheat production in South African is expected to increase and meat the consumption demand and provided an opportunity for increase export with respect to domestic consumption. The forecasting of production and consumption behaviours of major crops play an important role towards food and nutrition security, these findings can assist policymakers and will provide them with insights into the production and pricing policy of wheat in South Africa.

Keywords: ARIMA, food security, price volatility, staple food, South Africa

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Authors: Lina Najafian, Hamidreza Vakilifard

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The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

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Authors: Peter Kress, Alexander Pflaum, Ulrich Loewen

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The number of Internet-of-Things (IoT) platforms is steadily increasing across various industries, especially for smart factories, smart homes and smart mobility. Also in the manufacturing industry, the number of Industrial-IoT platforms is growing. Both IT players, start-ups and increasingly also established industry players and small-and-medium-enterprises introduce offerings for the connection of industrial equipment on platforms, enabled by advanced information and communication technology. Beside the offered functionalities, the established ecosystem of partners around a platform is one of the key differentiators to generate a competitive advantage. The key question is how platform operators design the business model around their platform to attract a high number of customers and partners to co-create value for the entire ecosystem. The present research tries to answer this question by determining the key characteristics of business models of successful platforms in the manufacturing industry. To achieve that, the authors selected an explorative qualitative research approach and created an inductive comparative case study. The authors generated valuable descriptive insights of the business model elements (e.g., value proposition, pricing model or partnering model) of various established platforms. Furthermore, patterns across the various cases were identified to derive propositions for the successful design of business models of platforms in the manufacturing industry.

Keywords: industrial-internet-of-things, business models, platforms, ecosystems, case study

Procedia PDF Downloads 243