Search results for: Financial Stability

Authors: Kaila A. Vento

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Within the field of sports science, financial situations have been reported as a key barrier in purchasing high-quality foods. A lack of proper nutrition leads to insecurities of health, impairs training, and diminishes optimal performances. Consequently, insufficient nutrient intake, disordered eating patterns, and eating disorders may arise, leading to poor health and well-being. Athletic scholarships, nutrition resources, and meal programs are available, yet are disproportionally allocated, favoring male sports, Caucasian athletes, and higher sport levels. Direct athlete finances towards nutrition at various sport levels and the role race influences aid received has yet to be examined. Additionally, a diverse female athlete population is missing in the sports science literature, specifically in nutrition. To address this gap, the current project assesses how financial and nutrition support and nutrition knowledge impacts physical health, dietary intake, and overall quality of life of a diverse sample of female athletes at the National Collegiate Athletic Association (NCAA), National Junior Collegiate Athletic Association (NJCAA), and cub sport levels. The project will identify differences in financial support in relation to race, as well. Approximately (N = 120) female athletes will participate in a single 30-minute lab visit. At this visit, body composition (i.e., height, weight, body mass index, and fat percent), blood health indicators (fasted blood glucose and lipids), and resting blood pressure are measured. In addition, three validated questionnaires pertaining to nutrition knowledge (Sports Nutrition Knowledge Questionnaire; SNKQ), dietary intake (Rapid Eating Assessment for Participants; REAP), and quality of life (World Health Organization Quality of Life Brief; WHOQL-B) are gathered. Body composition and blood health indicators will be compared with the results of self-reported sports nutrition knowledge, dietary intake, and quality of life questionnaires. It is hypothesized that 1) financial and nutrition support and nutrition knowledge will differ between the sport levels and 2) financial and nutrition support and nutrition knowledge will have a positive association with quality of dietary intake and blood health indicators, 3) financial and nutrition support will differ significantly among racial background across the various competition levels, and 4) dietary intake will influence blood health indicators and quality of life. The findings from this study could have positive implications on athletic associations' policies on equity of financial and nutrition support to improve the health and safety of all female athletes across several sport levels.

Keywords: athlete, equity, finances, health, resources

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Authors: Chih-Mei Wang, Jon-Chao Hong, Jian-Hong Ye, Jing-Yun Fan, Chiao-Fei Lin

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The value of a certificate is to implement the criteria for evaluating work ability. Some professional certificates may make people feel good, but they are not useful in the workplace. To address this issue, this study is based on the expectancy-value model to take financial certificates as an example to explore how participants perceived the value of obtaining certification related to their usage perception of career promotion and salary increase. A total of 339 valid samples were subjected to confirmatory factor analysis and structural equation modeling; the results showed that the number of professional certificates was not significantly correlated with career promotion, but the number of professional certificates is negatively related to salary and benefits (S&B), while career promotion and S&B were positively related to job performance. The results show that the number of professional certificates does not play a significant role in the expectancy-value model. Therefore, professional certifications related to a basic level of finance was not expected to obtain in Taiwan's financial industry, and it is important to study the usefulness of some other certificates in other competitive industry.

Keywords: career promotion, certificate, compensation and benefits, goal-directed behaviors, Job performance

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Authors: Tran Le Luu, Jeyong Yoon

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RuO2-TiO2 electrode now becomes popular in the chlor-alkali industry because of high electrocatalytic and stability with chlorine and oxygen evolutions. Using alternative green method for preparation RuO2-TiO2 electrode is necessary to reduce the cost, time. In addition, it is needed to increase the electrocatalyst performance, stability, and environmental compatibility. In this study, the Ti/RuO2-TiO2 electrodes were synthesized using sol-gel method under microwave irradiation and investigated for the anodic chlorine and oxygen evolutions. This method produced small size and uniform distribution of RuO2-TiO2 nanoparticles with mean diameter of 8-10 nm on the big crack size surface which contributes for the increasing of the outer active surface area. The chlorine, oxygen evolution efficiency and stability comparisons show considerably higher for microwave-assisted coated electrodes than for those obtained by the conventional heating method. The microwave-assisted sol-gel route has been identified as a novel and powerful method for quick synthesis of RuO2–TiO2 electrodes with excellent chlorine and oxygen evolution performances.

Keywords: RuO2, electro-catalyst, sol-gel, microwave, chlorine, oxygen evolution

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Authors: Mojtaba Rezaei, Elham Heydari

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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: accounting information, market risk, systematic risk, stock return, efficient market hypothesis, EMH, Tehran stock exchange, TSE

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Authors: Enas R. Shouman

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

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

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Authors: Elnaz Sabzehparvar, Pouya Rabiei, Houman Rezaei

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Few studies have been conducted about the effects of compound exercises emphasizing local stability and global stabilization subsystems on the performance of athletes. The present research aimed to study the effect of 6 weeks of compound exercises emphasizing local and global stability on the dynamic balance of elite male Taekwondo athletes. Twenty-seven elite male Taekwondo athletes (with a mean age, mass, and height of 24.4 ± 4.9 years, 75.7 ± 15.1kg, and 181.4 ± 7.8 cm, respectively) were assigned to two groups of control (n=12) and exercise (n=15). 6 weeks of compound exercises in 2 local and global phases. The first phase included activation exercises which were done separately and locally for 3 weeks. Then, integrative exercises specific to the global stabilization subsystems (longitudinal-depth, posterior oblique and anterior, and lateral) was carried out for next 3 weeks. The dynamic balance of subjects was measured in the pre-test and post-test using the Y Balance Test (YBT). After 6 weeks of compound exercises, scores of the YBT in the exercise group showed a significant improvement in all three anterior (p=0.035), posterolateral (p=0.017) and medial (p=0.001) directions in the post-test compared to the control group (p ≤ 0.05 for all comparisons). The findings of the present study suggested that compound exercises focusing on muscle as separate units and then as interdependent chains (muscular subsystems) can significantly increase YBT on elite male Taekwondo athletes in all three directions.

Keywords: Taekwondo, compound exercises, local and global stability, muscular subsystems

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Authors: P.-W. Tsai, C.-Y. Chen, C.-W. Chen

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In this paper, the stability analysis of a GA-Based adaptive fuzzy sliding model controller for a nonlinear system is discussed. First, a nonlinear plant is well-approximated and described with a reference model and a fuzzy model, both involving FLC rules. Then, FLC rules and the consequent parameter are decided on via an Evolved Bat Algorithm (EBA). After this, we guarantee a new tracking performance inequality for the control system. The tracking problem is characterized to solve an eigenvalue problem (EVP). Next, an adaptive fuzzy sliding model controller (AFSMC) is proposed to stabilize the system so as to achieve good control performance. Lyapunov’s direct method can be used to ensure the stability of the nonlinear system. It is shown that the stability analysis can reduce nonlinear systems into a linear matrix inequality (LMI) problem. Finally, a numerical simulation is provided to demonstrate the control methodology.

Keywords: adaptive fuzzy sliding mode control, Lyapunov direct method, swarm intelligence, evolved bat algorithm

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Authors: Brian Basvi

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A technique for analyzing a security's intrinsic value is called fundamental analysis. It involves looking at relevant financial, economic, and other qualitative and quantitative aspects. Earnings Per Share (EPS), a crucial metric in fundamental analysis, is calculated by dividing a company's net income by the total number of outstanding shares. With more than 70 listed businesses, the Zimbabwe Stock Exchange (ZSE) is the primary stock exchange in Zimbabwe. This study applies the EPS financial ratio and stock valuation techniques to historical stock data from 68 companies listed on the Zimbabwe Stock Exchange. According to a ZSE study, EPS significantly affects share prices that are listed on the market. The study's objective was to assess how fundamental analysis affected the idea of EPS in ZSE stock valuation. It concluded that EPS is an important consideration for investors when they make judgments about their investments. According to the study's findings, fundamental analysis is a useful tool for ZSE investors since it offers insightful information about a company's financial performance and aids in decision-making. Investors can have a better understanding of a company's underlying worth and prospects for future growth by looking into EPS and other basic aspects.

Keywords: fundamental analysis, stock valuation, EPS, share pricing

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Authors: Wanda Luen-Wun Siu, Xiaowen Zhang

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This paper offered the primary methodical proof on how CSR reporting related to enterprise earnings in listed firms in China in light of most evidence focusing on cross-sectional data or data in a short span of time. Using full economic and business panel data on China’s publicly listed enterprise from 2006 to 2020 over two decades in the China Stock Market and Accounting Research database, we found initial evidence of significant direct relations between CSR reporting and firm corporate performance in both state-owned and privately owned firms over this period, supporting the stakeholder theory. Results also revealed that state-owned enterprises performed as well as private enterprises in the current period. But private enterprises performed better than state-owned enterprises in the subsequent years. Moreover, the release of social responsibility reports had a more significant impact on the financial performance of state-owned and private enterprises in the current period than in the subsequent periods. Specifically, CSR release was not significantly associated with the financial performance of state-owned enterprises on the lag of the first, second, and third periods. But it had an impact on the lag of the first, second, and third periods among private enterprises. Such findings suggested that CSR reporting helped improve the corporate financial performance of state-owned and private enterprises in the current period, but this kind of effect was more significant among private enterprises in the lag periods.

Keywords: China’s listed firms, CSR reporting, financial performance, panel analysis

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Authors: N. Smaoui, B. Chentouf

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The boundary stabilization problem of the rotating disk-beam system is a topic of interest in research studies. This system involves a flexible beam attached to the center of a disk, and the control and stabilization of this system have been extensively studied. This research focuses on the case where the center of mass is fixed in an inertial frame, and the rotation of the center is non-uniform. The system is represented by a set of nonlinear coupled partial differential equations and ordinary differential equations. The boundary stabilization problem of this system via a delayed boundary control is considered. We assume that the boundary control is either of a force type control or a moment type control and is subject to the presence of a constant time-delay. The aim of this research is threefold: First, we demonstrate that the rotating disk-beam system is well-posed in an appropriate functional space. Then, we establish the exponential stability property of the system. Finally, we provide numerical simulations that illustrate the theoretical findings. The research utilizes the semigroup theory to establish the well-posedness of the system. The resolvent method is then employed to prove the exponential stability property. Finally, the finite element method is used to demonstrate the theoretical results through numerical simulations. The research findings indicate that the rotating disk-beam system can be stabilized using a boundary control with a time delay. The proof of stability is based on the resolvent method and a variation of constants formula. The numerical simulations further illustrate the theoretical results. The findings have potential implications for the design and implementation of control strategies in similar systems. In conclusion, this research demonstrates that the rotating disk-beam system can be stabilized using a boundary control with time delay. The well-posedness and exponential stability properties are established through theoretical analysis, and these findings are further supported by numerical simulations. The research contributes to the understanding and practical application of control strategies for flexible structures, providing insights into the stability of rotating disk-beam systems.

Keywords: rotating disk-beam, delayed force control, delayed moment control, torque control, exponential stability

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Authors: Ezedin Geta Seid

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Slope failures are among the common geo-environmental natural hazards in the hilly and mountainous terrain of the world causing damages to human life and destruction of infrastructures. In Ethiopia, the demand for the construction of infrastructures, especially highways and railways, has increased to connect the developmental centers. However, the failure of roadside slopes formed due to the difficulty of geographical locations is the major difficulty for this development. As a result, a comprehensive site-specific investigation of destabilizing agents and a suitable selection of slope profiles are needed during design. Hence, this study emphasized the stability analysis and performance evaluation of slope profiles (single slope, multi-slope, and benched slope). The analysis was conducted for static and dynamic loading conditions using limit equilibrium (slide software) and finite element method (Praxis software). The analysis results in selected critical sections show that the slope is marginally stable, with FS varying from 1.2 to 1.5 in static conditions, and unstable with FS below 1 in dynamic conditions. From the comparison of analysis methods, the finite element method provides more valuable information about the failure surface of a slope than limit equilibrium analysis. Performance evaluation of geometric profiles shows that geometric modification provides better and more economical slope stability. Benching provides significant stability for cut slopes (i.e., the use of 2m and 3m bench improves the factor of safety by 7.5% and 12% from a single slope profile). The method is more effective on steep slopes. Similarly, the use of a multi-slope profile improves the stability of the slope in stratified soil with varied strength. The performance is more significant when it is used in combination with benches. The study also recommends drainage control and slope reinforcement as a remedial measure for cut slopes.

Keywords: slope failure, slope profile, bench slope, multi slope

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Authors: Thapelo Jacob Moloi

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This paper purports to present the findings in relation to the competencies of commercial grain farmers using a classic grounded theory method. A total of about eighteen semi-structured interviews with farmers, former farmers, farm workers, and agriculture experts were conducted. Findings explored competencies in the form of skills, knowledge and personal attributes that commercial grain farmers possess. Skills range from production skills, financial management skill, time management skill, human resource management skill, planning skill to mechanical skill. Knowledge ranges from soil preparation, locality, and technology to weather knowledge. The personal attributes that contribute to shaping a commercial grain farmer are so many, but for this study, seven stood out as a passion, work dedication, self-efficacy, humbleness, intelligence, emotional stability, and patience.

Keywords: grain farming, farming competencies, classic grounded theory, competency model

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Authors: Sani AbdulRahman Bala

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This empirical study delves into the realm of forensic accounting practices within the Nigerian Public Sector, seeking to quantitatively analyze their efficacy in addressing the persistent challenges of fraud and financial irregularities. With a focus on empirical data, this research employs a robust methodology to assess the current state of fraud in the Nigerian Public Sector and evaluate the performance of existing forensic accounting measures. Through quantitative analyses, including statistical models and data-driven insights, the study aims to identify patterns, trends, and correlations associated with fraudulent activities. The research objectives include scrutinizing documented fraud cases, examining the effectiveness of established forensic accounting practices, and proposing data-driven strategies for enhancing fraud detection and prevention. Leveraging quantitative methodologies, the study seeks to measure the impact of technological advancements on forensic accounting accuracy and efficiency. Additionally, the research explores collaborative mechanisms among government agencies, regulatory bodies, and the private sector by quantifying the effects of information sharing on fraud prevention. The empirical findings from this study are expected to provide a nuanced understanding of the challenges and opportunities in combating fraud within the Nigerian Public Sector. The quantitative insights derived from real-world data will contribute to the refinement of forensic accounting strategies, ensuring their effectiveness in addressing the unique complexities of financial irregularities in the public sector. The study's outcomes aim to inform policymakers, practitioners, and stakeholders, fostering evidence-based decision-making and proactive measures for a more resilient and fraud-resistant financial governance system in Nigeria.

Keywords: fraud, financial irregularities, nigerian public sector, quantitative investigation

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Authors: Murad A. Bein

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This paper empirically examines the time-varying relationship and spillover effects between the international crude oil price and ten emerging equity markets, namely three oil-exporting countries (Brazil, Mexico, and Russia) and seven Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, and Slovakia). The results revealed that there are spillover effects from oil markets into almost all emerging equity markets save Slovakia. Besides, the oil supply glut had a homogenous effect on the emerging markets, both net oil-exporting, and oil-importing countries (CEE). Further, the time variance drastically increased during financial turmoil. Indeed, the time variance remained high from 2009 to 2012 in response to aggregate demand shocks (global financial crisis and Eurozone debt crisis) and quantitative easing measures. Interestingly, the time variance was slightly higher for the oil-exporting countries than for some of the CEE countries. Decision-makers in emerging economies should therefore seek policy coordination when dealing with financial turmoil.

Keywords: crude oil, spillover effects, emerging equity, time-varying, aggregate demand shock

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Authors: Apedzan Emmanuel Kighir

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This research investigates dividends smoothing among non-financial companies trading on the Nigerian Stock Exchange in an era of unclaimed dividends from 2004 to 2013. There has been a raging controversy among Regulatory Authorities, Company Executives, Registrars of Companies, Shareholders and the general public regarding the increasing incidence of unclaimed dividends in Nigeria. The objective of this study is to find out if corporate earnings management through dividends smoothing is implicated in unclaimed dividends among Nigerian non-financial firms. The research used panel data and employed Generalized Method of Moment as method of analysis. The research finds evidence of dividends-smoothing in this era of unclaimed dividends in Nigeria. The research concludes that dividends-smoothing is a trigger and red flag for unclaimed dividends, an output of earnings management. If earnings management and hence unclaimed dividends in Nigeria is allowed to continue, it will lead to great consequences to the investors and corporate policy of government. It is believed that the research will assist investors and government in making informed decisions regarding dividends policy in Nigeria.

Keywords: dividends smoothing, non financial companies, Nigerian stock exchange, unclaimed dividends, corporate earnings management

Procedia PDF Downloads 277

Authors: Joelle Thng, Li Fang

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Objective: As programming becomes a highly valued and sought-after skill in the economy, many universities have started offering Python courses to help students keep up with the demands of employers. This study focuses on designing a university module that effectively educates undergraduate students on financial analysis using Python programming. Methodology: To better satisfy the specific demands for each sector, this study adopted a qualitative research modus operandi to craft a module that would complement students’ existing financial skills. The lessons were structured using research-backed educational learning tools, and important Python concepts were prudently screened before being included in the syllabus. The course contents were streamlined based on criteria such as ease of learning and versatility. In particular, the skills taught were modelled in a way to ensure they were beneficial for financial data processing and analysis. Results: Through this study, a 6-week course containing the chosen topics and programming applications was carefully constructed for finance students. Conclusion: The findings in this paper will provide valuable insights as to how teaching programming could be customised for students hailing from various academic backgrounds.

Keywords: curriculum development, designing effective instruction, higher education strategy, python for finance students

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Authors: Khaldoon G. Albitar, Hassan Y. Kikhia, Jin P. Zhang

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Since 2007, all companies listed on both Shanghai Stock Exchange and Shenzhen Stock Exchange are required to prepare their consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). This study investigates the impact of adopting IFRS on accounting quality for a sample of listed on Chinese companies during the period 2003-2013 with sample of 10846 observations over a four-year period before and a five-year period after the adoption of IFRS. This study tests whether the level of earnings management is significantly lower after the adoption of IFRS, and reported earnings is more value relevant during the IFRS period by using the Ohlson model and Jones model, as modified by Dechow. The empirical results show that accounting quality improved with lower earnings management and higher value relevant after the adoption of IFRS in China. The current study contributes to the literature on IFRS adoption and earning quality in two ways. First, As most of the existing studies on earnings quality and IFRS have been conducted on data from the U.S and European countries, this study fills a gap in the existing literature by studying the effect of adoption of IFRS on earnings quality in an emerging market. Second, the findings of our study have important implications for policymakers, auditors, multinational firms, and users of financial reports. As the rapid growth of China's economy gains global recognition, the Chinese stock market is capturing the attention of international investor.

Keywords: international financial reporting standards (ifrs), accounting quality, earnings management, value relevance, china

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Authors: Antonia Müller, Svend Reuse

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The Brexit referendum in June 2016 led to different publications analysing potential consequences for European and British insurance companies under the European Passport. This study addresses a research gap, regarding the measures taken by insurance companies based in the United Kingdom and thus on structural changes to the European insurance market by an innovative structured Solvency and Financial Condition Report content analysis. In scope are all insurance companies based in the United Kingdom, that fall under the Solvency II supervisory regime. The results show that the majority of British Solvency II insurance companies in scope, conducting cross-border business to the European Union, have applied and reported measures to be able to continue operating this cross-border business after Brexit. In addition, the study shows that 34 new insurance companies based in the European Union were established as a result of Brexit, indicating structural changes to the European insurance market.

Keywords: brexit, europe, insurance market, solvency and financial condition repot, structural changes

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Authors: Lubica Hikkerova, Jean-Michel Sahut

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Environmental protection remains a global challenge but, since 2012, there has been a progressive decline in corporate engagement in environmental protection issues. This study seeks to investigate the role of financial capacity and governance in improving the level of environmental engagement of companies. The regression technique is applied to data on 351 large European companies from the ASSET4-ESG database for the 2007-2015 period. Firstly, the results show that the companies in the sample are fairly engaged in environmental protection, with a strong dispersion representing nearly four times the average. This means that the companies in the sample do not share the same level of engagement in matters of environmental protection, some being more committed than others. Secondly, the results reveal that the financial capacity of the company, as assessed through its indicators, has a significant effect on its level of environmental protection engagement in the present sample. This effect is more positive the higher the profits the company makes, and more negative the more heavily indebted or, the higher the rates of dividends it pays per share. Lastly, the results also show that a better quality of governance plays an important role in the decision to undertake actions leading to environmental protection. More specifically, the degree of management implication in the running of the business, the respect of the rights of the shareholders, the effectiveness of the control exerted by the board of directors, and, to a lesser extent, the independence of the audit committee, are variables which have a positive and significant influence on the level of environmental engagement of companies.

Keywords: financial capacity, corporate governance, environmental engagement, stakeholder theory, theory of organizational legitimacy, theory of resources and capabilities

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Authors: Pascal Horni, Sandro Fuchs

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In presence of increasing deficits and public debt among OECD countries, the debate on fiscal disciple and mechanisms to constrain public spending policy heated up and gave rise to the institutionalization of fiscal rules. Considering the notions from political economy literature and the therein advocated axiom of maximization of votes, introduction of institutional mechanisms and rules to govern public spending is likely to be coined by electoral motives. While there exists a series of research concerned with the rise of creative accounting in the presence fiscal rules, implementation of accrual government accounting and its impact on the biting of fiscal rules has to authors’ best knowledge never been explored. This paper serves the illumination of the connection between debt break mechanisms and the adoption of accrual public sector accounting standards such as the IPSAS in the interface of political economy in the Swiss context. By explicitly considering the technical accounting dimension, this paper develops an integrated conceptual view on well-established Public Financial Management (PFM) institutions and elaborates how their interdependencies can co-create value with regard to the contemporary challenge of fiscal sustainability. Derivation of this integrated view follows an explorative approach, taking into account expert interviews with director level staff from cantonal finance administrations and policy documents, as well as literature from both research areas – public sector accounting and political economy.

Keywords: accounting, fiscal rules, International Public Sector Accounting Standards (IPSAS), public financial management

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Authors: Hulya Ilyasoglu Buyukkestelli, Sedef Nehir El

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Lutein is a member of xanthophyll group of carotenoids found in fruits and vegetables. Lutein accumulates in the macula region of the retina and known as macular pigment which absorbs damaging light in the blue wavelengths. The presence of lutein in retina has been related to decreased risk of two common eye diseases, age-related macular degeneration, and cataract. Being a strong antioxidant, it may also have effects on prevention some types of cancer, cardiovascular disease, cognitive dysfunction. Humans are not capable of synthesizing lutein de novo; therefore it must be provided naturally by the diet, fortified foods, and beverages or nutritional supplement. However, poor bioavailability and physicochemical stability limit its usage in the food industry. Poor solubility in digestive fluids and sensitivity to heat, light, and oxygen are both affect the stability and bioavailability of lutein. In this context, new technologies, delivery systems and formulations have been applied to improve stability and solubility of lutein. Nanotechnology, including nanoemulsion, nanocrystal, nanoencapsulation technology and microencapsulation by complex coacervation, spray drying are promising ways of increasing solubilization of lutein and stability of it in different conditions. Bioavailability of lutein is also dependent on formulations used, starch formulations and milk proteins, especially sodium caseinate are found effective in improving the bioavailability of lutein. Designing foods with highly bioavailable and stabile lutein needs knowledge about current technologies, formulations, and further needs. This review provides an overview of the new technologies and formulations used to improve bioavailability of lutein and also gives a future outlook to food researches.

Keywords: bioavailability, formulation, lutein, nanotechnology

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Authors: Denis Ushakov

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Fast growing international migration as a factor of labor globalization now is one of the most important trends of world economy and determinant of social-political transformations. Study of fundamental economical reasons for international migration is relevant due to their prognostic, predictable and normative potential, which can be used in conditions of global economic non-stability. This paper analyzes role of natural-resources, financial and labor factors in economic growth of the modern states; studies relationships between stimulating role of natural resources, finance and labor with levels of modern countries’ economy development. Based on achieved results, findings about fundamental reasons of international migration; transformation of labor factor’s role in providing an economical progress of the states; efficiency of positive impact of manufacturing factors (domestic and attracted from international markets) were offered.

Keywords: international migration, migrant, labor productivity, economy efficiency of migration, migration policy

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Authors: Nadezhda Kvatashidze, Elena Kharabadze

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It is broadly known that lease is a flexible means of funding enterprises. Lease reduces the risk related to access and possession of assets, as well as obtainment of funding. Therefore, it is important to refine lease accounting. The lease accounting regulations under the applicable standard (International Accounting Standards 17) make concealment of liabilities possible. As a result, the information users get inaccurate and incomprehensive information and have to resort to an additional assessment of the off-balance sheet lease liabilities. In order to address the problem, the International Financial Reporting Standards Board decided to change the approach to lease accounting. With the deficiencies of the applicable standard taken into account, the new standard (IFRS 16 ‘Leases’) aims at supplying appropriate and fair lease-related information to the users. Save certain exclusions; the lessee is obliged to recognize all the lease agreements in its financial report. The approach was determined by the fact that under the lease agreement, rights and obligations arise by way of assets and liabilities. Immediately upon conclusion of the lease agreement, the lessee takes an asset into its disposal and assumes the obligation to effect the lease-related payments in order to meet the recognition criteria defined by the Conceptual Framework for Financial Reporting. The payments are to be entered into the financial report. The new lease accounting standard secures supply of quality and comparable information to the financial information users. The International Accounting Standards Board and the US Financial Accounting Standards Board jointly developed IFRS 15: ‘Revenue from Contracts with Customers’. The standard allows the establishment of detailed revenue recognition practical criteria such as identification of the performance obligations in the contract, determination of the transaction price and its components, especially price variable considerations and other important components, as well as passage of control over the asset to the customer. IFRS 15: ‘Revenue from Contracts with Customers’ is very similar to the relevant US standards and includes requirements more specific and consistent than those of the standards in place. The new standard is going to change the recognition terms and techniques in the industries, such as construction, telecommunications (mobile and cable networks), licensing (media, science, franchising), real property, software etc.

Keywords: assessment of the lease assets and liabilities, contractual liability, division of contract, identification of contracts, contract price, lease identification, lease liabilities, off-balance sheet, transaction value

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Authors: Saeid Jalilzadeh

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Designing of PSS and SVC controller based on Bacterial Foraging Algorithm (BFA) to improve the stability of power system is proposed in this paper. Same controllers for PSS and SVC has been considered and Single machine infinite bus (SMIB) system with SVC located at the terminal of generator is used to evaluate the proposed controllers. BFA is used to optimize the coefficients of the controllers. Finally simulation for a special disturbance as an input power of generator with the proposed controllers in order to investigate the dynamic behavior of generator is done. The simulation results demonstrate that the system composed with optimized controllers has an outstanding operation in fast damping of oscillations of power system.

Keywords: PSS, SVC, SMIB, optimize controller

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Authors: Afnan Ahmad, Shahid Ali, Mujahid Khan

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This research presents the parametric study of an existing earth fill dam located at Latamber, Karak city, Pakistan. The study consists of carrying out seepage analysis, slope stability analysis, and Earthquake analysis of the dam for the existing dam geometry and do the same for modified geometry. Dams are massive as well as expensive hydraulic structure, therefore it needs proper attention. Additionally, this dam falls under zone 2B region of Pakistan, which is an earthquake-prone area and where ground accelerations range from 0.16g to 0.24g peak. So it should be deal with great care, as the failure of any dam can cause irreparable losses. Similarly, seepage as well as slope failure can also cause damages which can lead to failure of the dam. Therefore, keeping in view of the importance of dam construction and associated costs, our main focus is to carry out parametric study of newly constructed dam. GeoStudio software is used for this analysis in the study in which Seep/W is used for seepage analysis, Slope/w is used for Slope stability analysis and Quake/w is used for earthquake analysis. Based on the geometrical, hydrological and geotechnical data, Seepage and slope stability analysis of different proposed geometries of the dam are carried out along with the Seismic analysis. A rigorous analysis was carried out in 2-D limit equilibrium using finite element analysis. The seismic study began with the static analysis, continuing by the dynamic response analysis. The seismic analyses permitted evaluation of the overall patterns of the Latamber dam behavior in terms of displacements, stress, strain, and acceleration fields. Similarly, the seepage analysis allows evaluation of seepage through the foundation and embankment of the dam, while slope stability analysis estimates the factor of safety of the upstream and downstream of the dam. The results of the analysis demonstrate that among multiple geometries, Latamber dam is secure against seepage piping failure and slope stability (upstream and downstream) failure. Moreover, the dam is safe against any dynamic loading and no liquefaction has been observed while changing its geometry in permissible limits.

Keywords: earth-fill dam, finite element, liquefaction, seepage analysis

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Authors: Swarn Singh, Suruchi Singh

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In this paper, we present a fourth order two level implicit finite difference scheme for 1D Pennes bio-heat equation. Unconditional stability and convergence of the proposed scheme is discussed. Numerical results are obtained to demonstrate the efficiency of the scheme. In this paper we present a fourth order two level implicit finite difference scheme for 1D Pennes bio-heat equation. Unconditional stability and convergence of the proposed scheme is discussed. Numerical results are obtained to demonstrate the efficiency of the scheme.

Keywords: convergence, finite difference scheme, Pennes bio-heat equation, stability

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Authors: Iyd Eqqab Maree, Habil Jurgen Bast

Abstract:

Vibration control of machines and structures incorporating viscoelastic materials in suitable arrangement is an important aspect of investigation. The use of viscoelastic layers constrained between elastic layers is known to be effective for damping of flexural vibrations of structures over a wide range of frequencies. The energy dissipated in these arrangements is due to shear deformation in the viscoelastic layers, which occurs due to flexural vibration of the structures. Multilayered cantilever sandwich beam like structures can be used in aircrafts and other applications such as robot arms for effective vibration control. These members may experience parametric instability when subjected to time dependant forces. The theory of dynamic stability of elastic systems deals with the study of vibrations induced by pulsating loads that are parametric with respect to certain forms of deformation. The purpose of the present work is to investigate the dynamic stability of a three layered symmetric sandwich beam (Drone Aircraft wings ) subjected to an end periodic axial force . Equations of motion are derived using finite element method (MATLAB software). It is observed that with increase in core thickness parameter fundamental buckling load increases. The fundamental resonant frequency and second mode frequency parameter also increase with increase in core thickness parameter. Fundamental loss factor and second mode loss factor also increase with increase in core thickness parameter. Increase in core thickness parameter enhances the stability of the beam. With increase in core loss factor also the stability of the beam enhances. There is a very good agreement of the experimental results with the theoretical findings.

Keywords: steel cantilever beam, viscoelastic material core, loss factor, transition region, MATLAB R2011a

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Authors: Marcos Centurion-Vicencio

Abstract:

This study discusses the idea of ‘dominance’ in economic policy and its practical influence over monetary decisions. The discretionary use of repurchase agreements in Brazil over the period 2006-2016 and its effects on the overall price level are the specific issues we will be focusing on. The set of in-depth interviews carried out with public servants at the Brazilian central bank and national treasury, alongside data collected from the National Institution of Statistics (IBGE), suggest that monetary and fiscal dominance do not differ in nature once the assumption of depoliticized central bankers is relaxed. In both regimes, the pursuit of private gains via public institutions affects price stability. While short-sighted politicians in the latter are at the origin of poor monetary decisions, the action of short-sighted financial interest groups is likely to generate a similar outcome in the former. This study then contributes to rethinking monetary policy theory as well as the nature of public borrowing.

Keywords: fiscal and monetary interactions, interest groups, monetary capture, public borrowing

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Authors: Shabnam Dadparvar, Laijin Shen

Abstract:

This paper focuses on China’s policy in the Middle East and the rivalry with the U.S. The question is that what are the main factors on China’s Middle East policy and its competition with the U.S? The hypothesis regards to three effective factors: 'China’s energy dependency' on the Middle East, 'economy' and support for 'stability' in the Middle East. What is important in China’s competition with the U.S regarding to its Middle East policy is the substantial difference in ways of treating the countries of the region; China is committed to Westphalia model based on non-interference in internal affairs of the countries and respect the sovereignty of the governments. However, after 9/11, the U.S is seeking a balance between stability and change through intervention in the international affairs and in some cases is looking for a regime change. From the other hand, China, due to its dependency on the region’s energy welcomes America’s military presence in the region for providing stability. The authors by using a descriptive analytical method try to explain the situation of rivalry between China and the United States in Middle East. China is an 'emerging power' with high economic growth and in demand of more energy supply. The problem is that a rising power in the region is often a source of concern for hegemony.

Keywords: China's foreign policy, energy, hegemony, the Middle East

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Authors: Malahat Rezaee, Mahiran Basri, Raja Noor Zaliha Raja Abdul Rahman, Abu Bakar Salleh

Abstract:

Sodium diclofenac is one of the most commonly used drugs of nonsteroidal anti-inflammatory drugs (NSAIDs). It is especially effective in the controlling the severe conditions of inflammation and pain, musculoskeletal disorders, arthritis, and dysmenorrhea. Formulation as nanoemulsions is one of the nanoscience approaches that have been progressively considered in pharmaceutical science for transdermal delivery of drug. Nanoemulsions are a type of emulsion with particle sizes ranging from 20 nm to 200 nm. An emulsion is formed by the dispersion of one liquid, usually the oil phase in another immiscible liquid, water phase that is stabilized using surfactant. Palm kernel oil esters (PKOEs), in comparison to other oils; contain higher amounts of shorter chain esters, which suitable to be applied in micro and nanoemulsion systems as a carrier for actives, with excellent wetting behavior without the oily feeling. This research was aimed to study the effect of O/S ratio on stability and rheological behavior of sodium diclofenac loaded and unloaded palm kernel oil esters nanoemulsion systems. The effect of different O/S ratio of 0.25, 0.50, 0.75, 1.00 and 1.25 on stability of the drug-loaded and unloaded nanoemulsion formulations was evaluated by centrifugation, freeze-thaw cycle and storage stability tests. Lecithin and cremophor EL were used as surfactant. The stability of the prepared nanoemulsion formulations was assessed based on the change in zeta potential and droplet size as a function of time. Instability mechanisms including coalescence and Ostwald ripening for the nanoemulsion system were discussed. In comparison between drug-loaded and unloaded nanoemulsion formulations, drug-loaded formulations represented smaller particle size and higher stability. In addition, the O/S ratio of 0.5 was found to be the best ratio of oil and surfactant for production of a nanoemulsion with the highest stability. The effect of O/S ratio on rheological properties of drug-loaded and unloaded nanoemulsion systems was studied by plotting the flow curves of shear stress (τ) and viscosity (η) as a function of shear rate (γ). The data were fitted to the Power Law model. The results showed that all nanoemulsion formulations exhibited non-Newtonian flow behaviour by displaying shear thinning behaviour. Viscosity and yield stress were also evaluated. The nanoemulsion formulation with the O/S ratio of 0.5 represented higher viscosity and K values. In addition, the sodium diclofenac loaded formulations had more viscosity and higher yield stress than drug-unloaded formulations.

Keywords: nanoemulsions, palm kernel oil esters, sodium diclofenac, rheoligy, stability

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