Search results for: exchanges and trade

Authors: Vijay Marisetty, Poonam Singh

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Research on the effect of director's network connections on investor welfare is inconclusive. Some studies suggest that directors' connections are beneficial, in terms of, improving earnings information, firms valuation for new investors. On the other hand, adverse effects of directorial networks are also reported, in terms of higher earnings management, options back dating fraud, reduction in firm performance, lower board monitoring. From regulatory perspective, the role of directorial networks on corporate welfare is crucial. Cognizant of the possible ill effects associated with directorial networks, large investors, for better representation on the boards, are building their own database of prospective directors who are highly qualified, however, sourced from outside the highly connected directorial labor market. For instance, following Dodd-Frank Reform Act, California Public Employees' Retirement Systems (CalPERs) has initiated a database for registering aspiring and highly qualified directors to nominate them for board seats (proxy access). Our paper stems from this background and tries to explore the chances of outside directors getting directorships who lack established network connections. The paper is able to identify such aspiring directors' information by accessing a unique Indian data sourced from an online portal that aims to match the supply of registered aspirants with the growing demand for outside directors in India. The online portal's tie-up with stock exchanges ensures firms to access the new pool of directors. Such direct access to the background details of aspiring directors over a period of 10 years, allows us to examine the chances of aspiring directors without corporate network, to enter directorial network. Using this resume data of 16105 aspiring corporate directors in India, who have no prior board experience in the directorial labor market, the paper analyses the entry dynamics in corporate directors' labor market. The database also allows us to investigate the value of corporate network by comparing non-network new entrants with incumbent networked directors. The study develops measures of network centrality and network degree based on merit, i.e. network of individuals belonging to elite educational institutions, like Indian Institute of Management (IIM) or Indian Institute of Technology (IIT) and based on job or company, i.e. network of individuals serving in the same company. The paper then measures the impact of these networks on the appointment of first time directors and subsequent appointment of directors. The paper reports the following main results: 1. The likelihood of becoming a corporate director, without corporate network strength, is only 1 out 100 aspirants. This is inspite of comparable educational background and similar duration of corporate experience; 2. Aspiring non-network directors' elite educational ties help them to secure directorships. However, for post-board appointments, their newly acquired corporate network strength overtakes as their main determinant for subsequent board appointments and compensation. The results thus highlight the limitations in increasing board diversity.

Keywords: aspiring corporate directors, board diversity, director labor market, director networks

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Authors: Amleset Haile

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Non-timber forest products (NTFPs) are harvested for both subsistence and commercial use and play a key role in the livelihoods of millions of rural people. Non-timber forest products (NTFPs) are important in rural southwest Ethiopia, Kaffa as a source of household income. market players at various levels in marketing chains are interviewed to getther information on elements of marketing system–products, product differentiation, value addition, pricing, promotion, distribution, and marketing chains. The study, therefore, was conducted in Kaffa Biosphere reserve of southwest Ethiopia with the main objective of assessing and analyzing the contribution of NTFPs to rural livelihood and to the conservation of the biosphere reserve and to identify factors influencing in the marketing of the NTFP. Five villages were selected based on their proximity gradient from Bonga town and availability of NTFP. Formal survey was carried out on rural households selected using stratified random sampling. The results indicate that Local people practice diverse livelihood activities mainly crops cultivation (cereals and cash crops) and livestock husbandry, gather forest products and off-farm/off-forest activities for surviva. NTFP trade is not a common phenomenon in southwest Ethiopia. The greatest opportunity exists for local level marketing of spices and other non timber forest products. Very little local value addition takes place within the region,and as a result local market players have little control. Policy interventions arc required to enhance the returns to local collectors, which will also contribute to sustainable management of forest resources in Kaffa biosphere reserve.

Keywords: forest management, biosphere reserve, marketing, local people

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Authors: Yangwon Hyun

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Nowadays, business settings are becoming increasingly multilingual and multicultural under the conditions of globalization. When people from different linguistic and cultural background interact, their divergent cultural conceptualizations may result in communicative problems. Even though intercultural business communication between Thais and South Koreans has become increasingly significant along with the development of international trade relations, there have been very few attempts to conduct research on interactional problems in that context. Based on a Cultural Linguistics perspective, this study analyzes Thai cultural conceptualizations that underly interactional problems with Koreans at Korean business organizations where were located in Thailand. The data was gathered through in-depth interviews with ten Korean and ten Thai employees as well as through six months of field observations. The results indicate that there are three cultural pragmatic schemas that underly problems of interaction between the two groups; (1) the schema of kreng-jai as a communicative strategy of withholding one’s intentions in order to not hurt another’s emotion, (2) the schema of mai-pen-rai as a linguistic strategy of inducing interlocutors to not be concerned about substantial matters so as to avoid confrontations, and (3) the schema of jai-yen as a linguistic expression used for persuading interlocutors to maintain a calm state of mind in order to avoid conflicts. The linguistic behaviors of Thai employees in relation to these three cultural schemas had led to misunderstandings and interpersonal conflicts with Korean supervisors and co-workers. These interactional problems were caused not only because Koreans were unfamiliar with Thai cultural conceptualizations, but also because these conceptualizations were incompatible with goal-oriented Korean business discourse. The findings of this study can enhance mutual understandings between Thai and Korean employees. Thus, it contributes to the promotion of smooth intercultural communication in the workplace.

Keywords: business context, cultural conceptualizations, cultural linguistics, intercultural communication, thai culture

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Authors: Nisha James, Shubha Ranganathan

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One of the most poignant forms of organized crime against women, which has rarely made it to the world of Indian cinema, is that of sex trafficking, i.e. the forcible involvement of women in the sex trade through fraud or coercion (Hughes, 2005). In the space of Indian cinema, much of the spotlight has been on the sensational drug trafficking and gang mafia of Bombay. During our research on sex trafficking, the rehabilitated women interviewed often expressed strong criticism about mass media’s naive portrayal of prostitutes as money-minting, happy and sexually driven women. They argued that this unrealistic portrayal ignored the fact that this was not a reality for the majority of trafficked women. Given the gravity of sex trafficking as a human rights issue, it is, therefore, refreshing to see three recent films on sex trafficking in Indian Languages – Naa Bangaaru Talli (2014, Telugu), Mardaani (2014, Hindi) and Lakshmi (2014, Hindi). This paper reviews these three films to explore the portrayal of the everyday reality of trafficking for women. Film analysis was used to understand the representation of psychological issues in the media. The strength of these movies starts with their inspirations which are of true stories and that they are all aimed at bringing awareness about the issue of sex trafficking, which is a rising social evil in Indian society though none of the three films move to portray the next phase of rehabilitation and reintegration of victims, which is a very complex and important process in the life of a survivor. According to findings, survivors of sex trafficking find the rehabilitation and reintegration into society to be a slow and tough part of their life as they continuously face stigma and social exclusion and have to strive to live against all odds of non-acceptance starting from their family.

Keywords: film review, Indian films, sex trafficking, survivors

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Authors: Laura Roe

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This study draws on twelve months of ethnographic fieldwork conducted in 2017 with heroin and poly-substance users in Scotland and explores experiences of time and temporality as factors in continuing drug use. The research largely took place over the year in which drug-related deaths in Scotland reached a record high, and were statistically recorded as the highest in Europe. This qualitative research is therefore significant in understanding both evolving patterns of drug use and the experiential lifeworlds of those who use heroin and other substances in high doses. Methodologies included participant observation, structured and semi-structured interviews, and unstructured conversations with twenty-two regular participants. The fieldwork was conducted in two needle exchanges, a community recovery group and in the community. The initial aim of the study was to assess evolving patterns of drug preferences in order to explore a clinical and user-reported rise in the use of novel psychoactive substances (NPS), which are typically considered to be highly potent, synthetic substances, often available at a low cost. It was found, however, that while most research participants had experimented with NPS with varying intensity, those who used every day regularly consumed heroin, methadone, and alcohol with benzodiazepines such as diazepam or anticonvulsants such as gabapentin. The research found that many participants deliberately pursued the non-fatal effects of overdose, aiming to induce states of dissociation, detachment and uneven consciousness, and did so by both mixing substances and experimenting with novel modes of consumption. Temporality was significant in the decision to consume cocktails of substances, as users described wishing to sever themselves from time; entering into states of ‘non-time’ and insensibility through specific modes of intoxication. Time and temporality similarly impacted other aspects of addicted life. Periods of attempted abstinence witnessed a slowing of time’s passage that was tied to affective states of boredom and melancholy, in addition to a disruptive return of distressing and difficult memories. Abject past memories frequently dominated and disrupted the present, which otherwise could be highly immersive due to the time and energy-consuming nature of seeking drugs while in financial difficulty. There was furthermore a discordance between individual user temporalities and the strict time-based regimes of recovery services and institutional bodies, and the study aims to highlight the impact of such a disjuncture on the efficacy of treatment programs. Many participants had difficulty in adhering to set appointments or temporal frameworks due to their specific temporal situatedness. Overall, exploring increasing tendencies of heroin users in Scotland towards poly-substance use, this study draws on experiences and perceptions of time, analysing how temporality comes to bear on the ways drugs are sought and consumed, and how recovery is imagined and enacted. The study attempts to outline the experiential, intimate and subjective worlds of heroin and poly-substance users while explicating the structural and historical factors that shape them.

Keywords: addiction, poly-substance use, temporality, timelessness

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Authors: Sultan Alharby, Nick Harris, Alex Weddell, Jeff Reeve

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The concept of the Internet of Things (IoT) has received much attention over the last five years. It is predicted that the IoT will influence every aspect of our lifestyles in the near future. Wireless Sensor Networks are one of the key enablers of the operation of IoTs, allowing data to be collected from the surrounding environment. However, due to limited resources, nature of deployment and unattended operation, a WSN is vulnerable to various types of attack. Security is paramount for reliable and safe communication between IoT embedded devices, but it does, however, come at a cost to resources. Nodes are usually equipped with small batteries, which makes energy conservation crucial to IoT devices. Nevertheless, security cost in terms of energy consumption has not been studied sufficiently. Previous research has used a security specification of 802.15.4 for IoT applications, but the energy cost of each security level and the impact on quality of services (QoS) parameters remain unknown. This research focuses on the cost of security at the IoT media access control (MAC) layer. It begins by studying the energy consumption of IEEE 802.15.4 security levels, which is followed by an evaluation for the impact of security on data latency and throughput, and then presents the impact of transmission power on security overhead, and finally shows the effects of security on memory footprint. The results show that security overhead in terms of energy consumption with a payload of 24 bytes fluctuates between 31.5% at minimum level over non-secure packets and 60.4% at the top security level of 802.15.4 security specification. Also, it shows that security cost has less impact at longer packet lengths, and more with smaller packet size. In addition, the results depicts a significant impact on data latency and throughput. Overall, maximum authentication length decreases throughput by almost 53%, and encryption and authentication together by almost 62%.

Keywords: energy consumption, IEEE 802.15.4, IoT security, security cost evaluation

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Authors: Ibrahim Sadek Sedik Ibrahim, Mohamed M. Elgohary

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Sea ports are considered one of the factors affecting the progress of economic globalization and the international trade; consequently, they are considered one of the sources involved in the deterioration of the maritime environment due to the excessive amount of exhaust gases emitted from their activities. The majority of sea ports depend on the national electric grid as a source of power for the domestic and ships’ electric demands. This paper discusses the possibility of shifting ports from relying on the national grid electricity to green power-based ports. Offshore wind turbines and hydrogenic PEM fuel cell units appear as two typical promising clean energy sources for ports. As a case study, the paper investigates the prospect of converting Alexandria Port in Egypt to be an eco-friendly port with the study of technical, logistic, and financial requirements. The results show that the fuel cell, followed by a combined system of wind turbines and fuel cells, is the best choice regarding electricity production unit cost by 0.101 and 0.107 $/kWh, respectively. Furthermore, using of fuel cells and offshore wind turbine as green power concept will achieving emissions reduction quantity of CO₂, NOx, and CO emissions by 80,441, 20.814, and 133.025 ton per year, respectively. Finally, the paper highlights the role that renewable energy can play when supplying Alexandria Port with green energy to lift the burden on the government in supporting the electricity, with a possibility of achieving a profit of 3.85% to 22.31% of the annual electricity cost compared with the international prices.

Keywords: fuel cells, green ports, IMO, national electric grid, offshore wind turbines, port emissions, renewable energy

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Authors: Loide Sambo

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Achieving energy security has, in the past few decades, become one of the main goals in the security agenda of every country around the world. For Southern African Countries (SAC) the aim is not different, yet these countries face a particular challenge in the pursuit of their energy security. More than just secure enough energy sources to fuel their industrial and societal needs, SAC have as well to ensure that they trade their rich energy resources to the global market in a way that promotes and safeguards their economic development objectives. Considering the relevance of this issue to the SAC, the present paper explores the possibility of these countries to achieve energy security through regional cooperation, under the Southern Africa Development Community (SADC) platform. It discusses the challenges and opportunities for advancing energy security in this region through cooperation. After analyzing the data through the documentary analysis method, it was found that regional cooperation among SAC to improve energy security is not effective since cooperation in the region is still very susceptible to a plethora of challenges, such as political instability, lack of development of infrastructure and expertise, lack of good governance, lack of sense of cohesiveness, and most important lack of political commitment. It was also found that significant commitment on regional cooperation had been centered on the electricity sub-sector due to the region’s huge electricity deficit. Thus less commitment is dedicated to the development and policy harmonization of the other sub-sectors such as the one of natural gas and oil, for instance. Hence, it is recommended that the leadership of the SAC is fully committed to cooperate and harmonize the policies, the strategic plans, as well as the infrastructure concerning to all the natural energy resources and its respective sub-sectors. This would provide the SAC significant leverage to negotiate for the energy market access, ensuring that the region’s energy commodities are traded, while the countries themselves retain enough energy to sustain their economic growth and development, improving, therefore, their energy security.

Keywords: regional cooperation, energy security, economic development, political commitment

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Authors: Nika GorgoShadze, Anri Shainidze, Bachuki Katamadze

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In parallel to the development of the digital economy in the world, electronic commerce is also widely developing. Internet and ICT (information and communication technology) have created new business models as well as promoted to market consolidation, sustainability of the business environment, creation of digital economy, facilitation of business and trade, business dynamism, higher competitiveness, etc. Electronic commerce involves internet technology which is sold via the internet. Nowadays electronic commerce is a field of business which is used by leading world brands very effectively. After the research of internet market in Georgia, it was found out that quality of internet is high in Tbilisi and is low in the regions. The internet market of Tbilisi can be evaluated as high-speed internet service, competitive and cost effective internet market. Development of electronic commerce in Georgia is connected with organizational and methodological as well as legal problems. First of all, a legal framework should be developed which will regulate responsibilities of organizations. The Ministry of Economy and Sustainable Development will play a crucial role in creating legal framework. Ministry of Justice will also be involved in this process as well as agency for data exchange. Measures should be taken in order to make electronic commerce in Georgia easier. Business companies may be offered some model to get low-cost and complex service. A service centre should be created which will provide all kinds of online-shopping. This will be a rather interesting innovation which will facilitate online-shopping in Georgia. Development of electronic business in Georgia requires modernized infrastructure of telecommunications (especially in the regions) as well as solution of institutional and socio-economic problems. Issues concerning internet availability and computer skills are also important.

Keywords: electronic commerce, internet market, electronic business, information technology, information society, electronic systems

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Authors: Mohamed Edokali, Robert Menzel, David Harbottle, Ali Hassanpour

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Forward osmosis (FO) process has stood out as an energy-efficient technology for water desalination and purification, although the practical application of FO for desalination still relies on RO-based Thin Film Composite (TFC) and Cellulose Triacetate (CTA) polymeric membranes which have a low performance. Recently, graphene oxide (GO) laminated membranes have been considered an ideal selection to overcome the bottleneck of the FO-polymeric membranes owing to their simple fabrication procedures, controllable thickness and pore size and high water permeability rates. However, the low stability of GO laminates in wet and harsh environments is still problematic. The recent developments of modified GO and hydrophobic reduced graphene oxide (rGO) membranes for FO desalination have demonstrated attempts to overcome the ongoing trade-off between desalination performance and stability, which is yet to be achieved prior to the practical implementation. In this study, acid-functionalized GO nanosheets cooperatively reduced and crosslinked by the hyperbranched polyethyleneimine (PEI) and polyethylene glycol (PEG) polymers, respectively, are applied for fabrication of the FO membrane, to enhance the membrane stability and performance, and compared with other functionalized rGO-FO membranes. PEI/PEG doped rGO membrane retained two compacted d-spacings (0.7 and 0.31 nm) compared to the acid-functionalized GO membrane alone (0.82 nm). Besides increasing the hydrophilicity, the coating layer of PEG onto the PEI-doped rGO membrane surface enhanced the structural integrity of the membrane chemically and mechanically. As a result of these synergetic effects, the PEI/PEG doped rGO membrane exhibited a water permeation of 7.7 LMH, salt rejection of 97.9 %, and reverse solute flux of 0.506 gMH at low flow rates in the FO desalination process.

Keywords: desalination, forward osmosis, membrane performance, polyethyleneimine, polyethylene glycol, reduced graphene oxide, stability

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Authors: Muhammed Ashiq Villanthenkodath, Shreya Pal

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Purpose: This study scrutinizes the impact of economic globalization on ecological footprint while endogenizing economic growth and energy consumption from 1990 to 2018 in India. Design/methodology/approach: The standard unit root test has been employed for time series analysis to unveil the integration order. Then, the cointegration was confirmed using autoregressive distributed lag (ARDL) analysis. Further, the study executed the dynamic ARDL simulation model to estimate long-run and short-run results along with simulation and robotic prediction. Findings: The cointegration analysis confirms the existence of a long-run association among variables. Further, economic globalization reduces the ecological footprint in the long run. Similarly, energy consumption decreases the ecological footprint. In contrast, economic growth spurs the ecological footprint in India. Originality/value: This study contributes to the literature in many ways. First, unlike studies that employ CO2 emissions and globalization nexus, this study employs ecological footprint for measuring environmental quality; since it is the broader measure of environmental quality, it can offer a wide range of climate change mitigation policies for India. Second, the study executes a multivariate framework with updated series from 1990 to 2018 in India to explore the link between EF, economic globalization, energy consumption, and economic growth. Third, the dynamic autoregressive distributed lag (ARDL) model has been used to explore the short and long-run association between the series. Finally, to our limited knowledge, this is the first study that uses economic globalization in the EF function of India amid facing a trade-off between sustainable economic growth and the environment in the era of globalization.

Keywords: economic globalization, ecological footprint, India, dynamic ARDL simulation model

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Authors: G. Hafner

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A method developed at the University of Stuttgart will be presented: ‘Analysis, Evaluation and Optimization of Food Management’. A major focus is represented by quantification of food losses and food waste as well as their classification and evaluation regarding a system optimization through waste prevention. For quantification and accounting of food, food losses and food waste along the food chain, a clear definition of core terms is required at the beginning. This includes their methodological classification and demarcation within sectors of the food value chain. The food chain is divided into agriculture, industry and crafts, trade and consumption (at home and out of home). For adjustment of core terms, the authors have cooperated with relevant stakeholders in Germany for achieving the goal of holistic and agreed definitions for the whole food chain. This includes modeling of sub systems within the food value chain, definition of terms, differentiation between food losses and food wastage as well as methodological approaches. ‘Food Losses’ and ‘Food Wastes’ are assigned to individual sectors of the food chain including a description of the respective methods. The method for analyzing, evaluation and optimization of food management systems consist of the following parts: Part I: Terms and Definitions. Part II: System Modeling. Part III: Procedure for Data Collection and Accounting Part. IV: Methodological Approaches for Classification and Evaluation of Results. Part V: Evaluation Parameters and Benchmarks. Part VI: Measures for Optimization. Part VII: Monitoring of Success The method will be demonstrated at the example of an invesigation of food losses and food wastage in the Federal State of Bavaria including an extrapolation of respective results to quantify food wastage in Germany.

Keywords: food losses, food waste, resource management, waste management, system analysis, waste minimization, resource efficiency

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Authors: Seongwon Im, Jimin Kim, Kyeongcheol Kim, Dong-Hoon Kim

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Cattle manure (CM) produced from farmhas been utilized to soils for increasing crop production owing to high nutrients content and effective microorganisms. Some cities with the concentrated activity of livestock industry have suffered from environmental problems, such as odorous gas emissions and soil and water pollution, caused by excessive use of compost. As an alternative option, the anaerobic digestion (AD) process can be utilized, which can reduce the volume of organic waste but also produce energy. According to Korea-Ministry of Trade, Industry, and Energy (KMTIE), the energy potential of CM via biogas production was estimated to be 0.8 million TOE per year, which is higher than that of other organic wastes. However, limited energy is recovered since useful organic matter, capable of converting to biogas, may be degraded during the long storage period (1-6 months).In this study, the effect of storage period on biogas potential of CM was investigated. Compared to fresh CM (VS 14±1 g/L, COD 205±5 g/L, TKN 7.4±0.8 g/L, NH4+-N 1.5±0.1), old CM has higher organic (35-37%) and nitrogen content (50-100%) due to the drying process during storage. After stabilization period, biogas potential of 0.09 L CH4/g VS was obtained in R1 (old CM supplement) at HRT of 150-100 d, and it was decreased further to 0.06 L CH4/g VS at HRT of 80 d. The drop of pH and organic acids accumulation were not observed during the whole operation of R1. Ammonia stripping and pretreatment of CM were found to be not effective to increase CH4 yield. On the other hand, a sudden increase of biogas potential to 0.19-0.22 L CH4/g VS was achieved in R2 after changing feedstock to fresh CM. The expected reason for the low biogas potential of old CM might be related with the composition of organic matters in CM. Easily biodegradable organic matters in the fresh CM were contained in high concentration, butthey were removed by microorganisms during storing CM in a farm, resulting low biogas yield. This study implies that fresh storage is important to make AD process applicable for CM.

Keywords: storage period, cattle manure, biogas potential, microbial analysis

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Authors: Rahul Paul, Kedar Nath Das

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The paradigm of Reinforcement Learning (RL) has become prominent in training intelligent agents to make decisions in environments that are both dynamic and uncertain. The primary objective of RL is to optimize the policy of an agent in order to maximize the cumulative reward it receives throughout a given period. Nevertheless, the process of optimization presents notable difficulties as a result of the inherent trade-off between exploration and exploitation, the presence of extensive state-action spaces, and the intricate nature of the dynamics involved. Evolutionary Optimization Methods (EOMs) have garnered considerable attention as a supplementary approach to tackle these challenges, providing distinct capabilities for optimizing RL policies and value functions. The ongoing advancement of research in both RL and EOMs presents an opportunity for significant advancements in autonomous decision-making systems. The convergence of these two fields has the potential to have a transformative impact on various domains of artificial intelligence (AI) applications. This article highlights the considerable influence of EOMs in enhancing the capabilities of RL. Taking advantage of evolutionary principles enables RL algorithms to effectively traverse extensive action spaces and discover optimal solutions within intricate environments. Moreover, this paper emphasizes the practical implementations of EOMs in the field of RL, specifically in areas such as robotic control, autonomous systems, inventory problems, and multi-agent scenarios. The article highlights the utilization of EOMs in facilitating RL agents to effectively adapt, evolve, and uncover proficient strategies for complex tasks that may pose challenges for conventional RL approaches.

Keywords: machine learning, reinforcement learning, loss function, optimization techniques, evolutionary optimization methods

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Authors: M. Gil, R. Montalvo

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Business Intelligence (BI) has become a major source of competitive advantages for firms around the world. BI has been defined as the process of data visualization and reporting for understanding what happened and what is happening. Moreover, BI has been studied for its predictive capabilities in the context of trade and financial transactions. The current literature has identified that BI permits managers to identify market trends, understand customer relations, and predict demand for their products and services. This last capability of BI has been of special concern to academics. Specifically, due to its power to build predictive models adaptable to specific time horizons and geographical regions. However, the current literature of BI focuses on predicting specific markets and industries because the impact of such predictive models was relevant to specific industries or organizations. Currently, the existing literature has not developed a predictive model of BI that takes into consideration the whole economy of a geographical area. This paper seeks to create a predictive model of BI that would show the bigger picture of a geographical area. This paper uses a data set from the Secretary of Economic Development of the state of Jalisco, Mexico. Such data set includes data from all the commercial transactions that occurred in the state in the last years. By analyzing such data set, it will be possible to generate a BI model that predicts supply and demand from specific industries around the state of Jalisco. This research has at least three contributions. Firstly, a methodological contribution to the BI literature by generating the predictive supply and demand model. Secondly, a theoretical contribution to BI current understanding. The model presented in this paper incorporates the whole picture of the economic field instead of focusing on a specific industry. Lastly, a practical contribution might be relevant to local governments that seek to improve their economic performance by implementing BI in their policy planning.

Keywords: business intelligence, predictive model, supply and demand, Mexico

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Authors: Justin Byrne, Jose Ramon Cobo

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The growing importance of cross- or intercultural competencies (used here interchangeably) for the business and management professionals is now a commonplace in both academic and professional literature. This reflects two parallel developments. On the one hand, it is a consequence of the increased attention paid to a whole range of 'soft skills', now seen as fundamental in both individuals' and corporate success. On the other hand, and more specifically, the increasing demand for interculturally competent professionals is a corollary of ongoing processes of globalization, which multiply and intensify encounters between individuals and companies from different cultural backgrounds. Business schools have, for some decades, responded to the needs of the job market and their own students by providing students with training in intercultural skills, as they are encouraged to do so by the major accreditation agencies on both sides of the Atlantic. Adapting Early and Ang's (2003) formulation of Cultural Intelligence (CQ), this paper aims to help fill the lagunae in the current literature on intercultural training in three main ways. First, it offers an in-depth analysis of the CQ of a little studied group: contemporary Millenial and 'Generation Z' Business School students. The level of analysis distinguishes between the four different dimensions of CQ, cognition, metacognition, motivation and behaviour, and thereby provides a detailed picture of the strengths and weaknesses in CQ of the group as a whole, as well as of different sub-groups and profiles of students. Secondly, by crossing these individual-level findings with respondents' socio-cultural and educational data, this paper also proposes and tests hypotheses regarding the relative impact and importance of four possible antecedents of intercultural skills identified in the literature: prior international experience; intercultural training, foreign language proficiency, and experience of cultural diversity in habitual country of residence. Third, we use this analysis to suggest data-based intercultural training priorities for today's management students. These conclusions are based on the statistical analysis of individual responses of some 300 Bachelor or Masters students in a major European Business School provided to two on-line surveys: Ang, Van Dyne, et al's (2007) standard 20-question self-reporting CQ Scale, and an original questionnaire designed by the authors to collate information on respondent's socio-demographic and educational profile relevant to our four hypotheses and explanatory variables. The data from both instruments was crossed in both descriptive statistical analysis and regression analysis. This research shows that there is no statistically significant and positive relationship between the four antecedents analyzed and overall CQ level. The exception in this respect is the statistically significant correlation between international experience, and the cognitive dimension of CQ. In contrast, the results show that the combination of international experience and foreign language skills acting together, does have a strong overall impact on CQ levels. These results suggest that selecting and/or training students with strong foreign language skills and providing them with international experience (through multinational programmes, academic exchanges or international internships) constitutes one effective way of training culturally intelligent managers of tomorrow.

Keywords: business school, cultural intelligence, millennial, training

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Authors: Maria Granados

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Information technology (IT) facilitates the management of knowledge in organisations through the effective leverage of collective experience and knowledge of employees. This supports information processing needs, as well as enables and facilitates sense-making activities of knowledge workers. The study of IT support for knowledge management (KM) has been carried out mainly in larger organisations where resources and competitive conditions can trigger the use of KM. However, there is still a lack of understanding on how IT can support the management of knowledge under different organisational settings influenced by: constant tensions between social and economic objectives, more focus on sustainability than competiveness, limited resources, and high levels of democratic participation and intrinsic motivations among employees. All these conditions are presented in Social Enterprises (SEs), which are normally micro and small businesses that trade to tackle social problems, improve communities, people’s life chances, and the environment. Thus, their importance to society and economies is increasing. However, there is still a need for more understanding of how these organisations operate, perform, innovate and scale-up. This knowledge is crucial to design and provide accurate strategies to enhance the sector and increase its impact and coverage. To obtain a conceptual and empirical understanding of how IT can facilitate KM in the particular organisational conditions of SEs, a quantitative study was conducted with 432 owners and senior members of SEs in UK, underpinned by 21 interviews. The findings demonstrated how IT was supporting more the recovery and storage of necessary information in SEs, and less the collaborative work and communication among enterprise members. However, it was established that SEs were using cloud solutions, web 2.0 tools, Skype and centralised shared servers to manage informally their knowledge. The possible impediments for SEs to support themselves more on IT solutions can be linked mainly to economic and human constraints. These findings elucidate new perspectives that can contribute not only to SEs and SE supporters, but also to other businesses.

Keywords: social enterprises, knowledge management, information technology, collaboration, small firms

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Authors: Jessica To

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Feedback is one of the powerful levers for enhancing students’ performance. However, some students are under-engaged with feedback because they lack responsibility for feedback uptake. To resolve this conundrum, recent literature proposes feedback partnerships in which students and teachers share the power and responsibilities to co-construct feedback. During feedback co-construction, students express feedback needs to teachers, and teachers respond to individuals’ needs in return. Though this approach can increase students’ feedback ownership, its application is lagging as the field lacks conceptual clarity and implementation guide. This presentation aims to discuss the conceptual framework of feedback partnerships and feedback co-construction strategies. It identifies the components of feedback partnerships and strategies which could facilitate feedback co-construction. A systematic literature review was conducted to answer the questions. The literature search was performed using ERIC, PsycINFO, and Google Scholar with the keywords “assessment partnership”, “student as partner,” and “feedback engagement”. No time limit was set for the search. The inclusion criteria encompassed (i) student-teacher partnerships in feedback, (ii) feedback engagement in higher education, (iii) peer-reviewed publications, and (iv) English as the language of publication. Those without addressing conceptual understanding and implementation strategies were excluded. Finally, 65 publications were identified and analysed using thematic analysis. For the procedure, the texts relating to the questions were first extracted. Then, codes were assigned to summarise the ideas of the texts. Upon subsuming similar codes into themes, four themes emerged: students’ responsibilities, teachers’ responsibilities, conditions for partnerships development, and strategies. Their interrelationships were examined iteratively for framework development. Establishing feedback partnerships required different responsibilities of students and teachers during feedback co-construction. Students needed to self-evaluate performance against task criteria, identify inadequacies and communicate their needs to teachers. During feedback exchanges, they interpreted teachers’ comments, generated self-feedback through reflection, and co-developed improvement plans with teachers. Teachers had to increase students’ understanding of criteria and evaluation skills and create opportunities for students’ expression of feedback needs. In feedback dialogue, teachers responded to students’ needs and advised on the improvement plans. Feedback partnerships would be best grounded in an environment with trust and psychological safety. Four strategies could facilitate feedback co-construction. First, students’ understanding of task criteria could be increased by rubrics explanation and exemplar analysis. Second, students could sharpen evaluation skills if they participated in peer review and received teacher feedback on the quality of peer feedback. Third, provision of self-evaluation checklists and prompts and teacher modeling of self-assessment process could aid students in articulating feedback needs. Fourth, the trust could be fostered when teachers explained the benefits of feedback co-construction, showed empathy, and provided personalised comments in dialogue. Some strategies were applied in interactive cover sheets in which students performed self-evaluation and made feedback requests on a cover sheet during assignment submission, followed by teachers’ response to individuals’ requests. The significance of this presentation lies in unpacking the conceptual framework of feedback partnerships and outlining feedback co-construction strategies. With a solid foundation in theory and practice, researchers and teachers could better enhance students’ engagement with feedback.

Keywords: conceptual framework, feedback co-construction, feedback partnerships, implementation strategies

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Authors: Wessam Fekry Ibrahim Moussa

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The northwest coast of Egypt embraces about 500 km of the Mediterranean coastline. The area covered extends from Alexandria on the East to the village of Sallum at Egypt's border with Libya in the west with an average depth of 20-70 km. When one looks at this long strip of land, one is struck by the fact that, from the archaeological point of view, one knows relatively little about this region during ancient times, its history, villages, inhabitants, and heritage. According to classical writers, in antiquity, the area seemed to be more populated and characterized by its rich buildings and inhabitants. They mentioned several Greco-Roman towns and harbors scattered along the coast nearly 2 thousand years ago. Strabo, for instance, in his book 17, confirmed the existence of about 12 several clusters along the coast, which varied between cities, villages, harbors, and small islands. Claudius Ptolemaeus also enumerated many marina sites as well as some small cities and villages. Unfortunately, nowadays, most of them have been lost either due to the extensive development of the north coast, Natural Disasters, or Erosion Factors. However, recent excavations carried out within the area revealed just a little of these settlements. The aim of this study is to reveal the secrets of the hidden heritage of those ancient sites and shed light on the role they played in the past, as some of them used to be stops on the trade route between Libya and Egypt (Strabo 17) or major centers for some of the international imports. The study will explore the archeological evidence using the analytical methodology to analyze each site and identify its features and significances in order to conclude the importance and role it once played during the past. Findings could be used by authorities and policymakers to utilize these heritage resources to improve cultural tourism within the area and enhance the tourist's experience.

Keywords: Greco Roman, heritage, ancient cities, north west coast

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Authors: Kyoko Tominaga

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Non-Government Organizations (NGOs), Non-Profit Organizations (NPOs), Social Enterprises and other actors play an important role in political decisions in governments at the international levels. Especially, such organizations’ and activists’ network in civil society is quite important to effect to the global politics. To solve the complex social problems in global era, diverse actors should corporate each other. Moreover, network of protesters is also contributes to diffuse tactics, information and other resources of social movements. Based on the findings from the study of International Trade Fairs (ITFs), the author analyzes the network of activists in anti-globalism movement. This research focuses the transition of 54 activists’ whole network in the “protest event” against 2008 G8 summit in Japan. Their network is examined at the three periods: Before protest event phase, during protest event phase and after event phase. A mixed method is used in this study: the author shows the hypothesis from social network analysis and evaluates that with interview data analysis. This analysis gives the two results. Firstly, the more protesters participate to the various events during the protest event, the more they build the network. After that, active protesters keep their network as well. From interview data, we can understand that the active protesters can build their network and diffuse the information because they communicate with other participants and understand that diverse issues are related. This paper comes to same conclusion with previous researches: protest events activate the network among the political activists. However, some participants succeed to build their network, others do not. “Networked” activists are participated in the various events for short period of time and encourage the diffusion of information and tactics of social movements.

Keywords: social movement, global justice movement, tactics, diffusion

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Authors: Geetha Baskaran, Andrzej Barjiela, Rong Qu

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Motivation: Nurse scheduling is a complex combinatorial optimization problem. It is also known as NP-hard. It needs an efficient re-scheduling to minimize some trade-off of the measures of violation by reducing selected constraints to soft constraints with measurements of their violations. Problem Statement: In this paper, we extend our novel approach to solve the nurse scheduling problem by transforming it through Information Granulation. Approach: This approach satisfies the rules of a typical hospital environment based on a standard benchmark problem. Generating good work schedules has a great influence on nurses' working conditions which are strongly related to the level of a quality health care. Domain transformation that combines the strengths of operation research and artificial intelligence was proposed for the solution of the problem. Compared to conventional methods, our approach involves judicious grouping (information granulation) of shifts types’ that transforms the original problem into a smaller solution domain. Later these schedules from the smaller problem domain are converted back into the original problem domain by taking into account the constraints that could not be represented in the smaller domain. An Integer Programming (IP) package is used to solve the transformed scheduling problem by expending the branch and bound algorithm. We have used the GNU Octave for Windows to solve this problem. Results: The scheduling problem has been solved in the proposed formalism resulting in a high quality schedule. Conclusion: Domain transformation represents departure from a conventional one-shift-at-a-time scheduling approach. It offers an advantage of efficient and easily understandable solutions as well as offering deterministic reproducibility of the results. We note, however, that it does not guarantee the global optimum.

Keywords: domain transformation, nurse scheduling, information granulation, artificial intelligence, simulation

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Authors: Anudeep Appe, Bhanu Poluparthi, Lakshmi Kasivajjula, Udai Mv, Sobha Bagadi, Punya Modi, Aditya Singh, Hemanth Gunupudi, Spenser Troiano, Jeff Paul, Justin Stovall, Justin Yamamoto

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The necessity of data-driven decisions in healthcare strategy formulation is rapidly increasing. A reliable framework which helps identify factors impacting a healthcare provider facility or a hospital (from here on termed as facility) market share is of key importance. This pilot study aims at developing a data-driven machine learning-regression framework which aids strategists in formulating key decisions to improve the facility’s market share which in turn impacts in improving the quality of healthcare services. The US (United States) healthcare business is chosen for the study, and the data spanning 60 key facilities in Washington State and about 3 years of historical data is considered. In the current analysis, market share is termed as the ratio of the facility’s encounters to the total encounters among the group of potential competitor facilities. The current study proposes a two-pronged approach of competitor identification and regression approach to evaluate and predict market share, respectively. Leveraged model agnostic technique, SHAP, to quantify the relative importance of features impacting the market share. Typical techniques in literature to quantify the degree of competitiveness among facilities use an empirical method to calculate a competitive factor to interpret the severity of competition. The proposed method identifies a pool of competitors, develops Directed Acyclic Graphs (DAGs) and feature level word vectors, and evaluates the key connected components at the facility level. This technique is robust since its data-driven, which minimizes the bias from empirical techniques. The DAGs factor in partial correlations at various segregations and key demographics of facilities along with a placeholder to factor in various business rules (for ex. quantifying the patient exchanges, provider references, and sister facilities). Identified are the multiple groups of competitors among facilities. Leveraging the competitors' identified developed and fine-tuned Random Forest Regression model to predict the market share. To identify key drivers of market share at an overall level, permutation feature importance of the attributes was calculated. For relative quantification of features at a facility level, incorporated SHAP (SHapley Additive exPlanations), a model agnostic explainer. This helped to identify and rank the attributes at each facility which impacts the market share. This approach proposes an amalgamation of the two popular and efficient modeling practices, viz., machine learning with graphs and tree-based regression techniques to reduce the bias. With these, we helped to drive strategic business decisions.

Keywords: competition, DAGs, facility, healthcare, machine learning, market share, random forest, SHAP

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Authors: Rony Tawk, Boutros Ghannam, Maroun Nemer

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Topology optimization technique presents a potential tool for the design and optimization of structures involved in mass and heat transfer. The method starts with an initial intermediate domain and should be able to progressively distribute the solid and the two fluids exchanging heat. The multi-objective function of the problem takes into account minimization of total pressure loss and maximization of heat transfer between solid and fluid subdomains. Existing methods account for the presence of only one fluid, while the actual work extends optimization distribution of solid and two different fluids. This requires to separate the channels of both fluids and to ensure a minimum solid thickness between them. This is done by adding a third objective function to the multi-objective optimization problem. This article uses density approach where each cell holds two local design parameters ranging from 0 to 1, where the combination of their extremums defines the presence of solid, cold fluid or hot fluid in this cell. Finite volume method is used for direct solver coupled with a discrete adjoint approach for sensitivity analysis and method of moving asymptotes for numerical optimization. Several examples are presented to show the ability of the method to find a trade-off between minimization of power dissipation and maximization of heat transfer while ensuring the separation and continuity of the channel of each fluid without crossing or mixing the fluids. The main conclusion is the possibility to find an optimal bi-fluid domain using topology optimization, defining a fluid to fluid heat exchanger device.

Keywords: topology optimization, density approach, bi-fluid domain, laminar steady state regime, fluid-to-fluid heat exchanger

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Authors: Normah Sulaiman, Yong Zhi Kang, Nor Hayati Hussain, Abdul Rehman Khalid

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Segara Ninda owned by Din Ku Meh, the governor of the province Satul, a Malay man with a big role liaising with Thailand. This mansion is part of the legacy he left behind among other properties in George Town, Penang, besides his family. The island’s geographical location is strategic which has benefitted it through important trade routes for Europe, Middle, East, India, and China in the past. Due to this reasoning, various architectural styles were introduced in Penang; Late Straits Eclectic style is one of the forms of the Colonial Architectural style widely spread as vernacular shophouses in George Town. Segara Ninda is located among the mixture of nouveau-riche, historical and heritage sites at the most important street; Penang Road, which dated back to the late 18th century. This paper examines the strait eclectic style that Segara Ninda encompasses. Acknowledging the mixture of colonial architecture in Georgetown, we argue that the mansion faces challenging issues in conservation processes to be vindicated. This is reflected by analysing the spatial layout, visual elements quality, and its activity through interviews with the occupants of the mansion. The focus will be on the understanding of building form, features, and functions; respecting the architectural spaces and their activity. The methodology applied is to promote our understanding of the mix of culture that the mansion holds through documentation, observation and measuring exercises. This offers a positional interpretation of the mix of culture that the mansion holds. This conservation effort will further contribute exposure to the public and recognize it in the society as its essence is a deficiency character to the existing built environment.

Keywords: eclectic, heritage, spatial organization, culture

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Authors: Marie Bountrogianni, Leonora Zefi, Krystle Phirangee, Naza Djafarova

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Faculty development is critical for any institution as it impacts students’ learning experiences and faculty performance with regards to course delivery. With that in mind, The Chang School at Ryerson University embarked on an initiative to develop a comprehensive, relevant faculty development program for online faculty and instructors. Teaching Adult Learners Online (TALO) is a professional development program designed to build capacity among online teaching faculty to enhance communication/facilitation skills for online instruction and establish a Community of Practice to allow for opportunities for online faculty to network and exchange ideas and experiences. TALO is comprised of four online modules and each module provides three hours of learning materials. The topics focus on online teaching and learning experience, principles and practices, opportunities and challenges in online assessments as well as course design and development. TALO offers a unique experience for online instructors who are placed in the role of a student and an instructor through interactivities involving discussions, hands-on assignments, peer mentoring while experimenting with technological tools available for their online teaching. Through exchanges and informal peer mentoring, a small interdisciplinary community of practice has started to take shape. Successful participants have to meet four requirements for completion: i) participate actively in online discussions and activities, ii) develop a communication plan for the course they are teaching, iii) design one learning activity/or media component, iv) design one online learning module. This study adopted a mixed methods exploratory sequential design. For the qualitative phase of this study, a thorough literature review was conducted on what constitutes effective faculty development programs. Based on that review, the design team identified desired competencies for online teaching/facilitation and course design. Once the competencies were identified, a focus group interview with The Chang School teaching community was conducted as a needs assessment and to validate the competencies. In the quantitative phase, questionnaires were distributed to instructors and faculty after the program was launched to continue ongoing evaluation and revisions, in hopes of further improving the program to meet the teaching community’s needs. Four faculty members participated in a one-hour focus group interview. Major findings from the focus group interview revealed that for the training program, faculty wanted i) to better engage students online, ii) to enhance their online teaching with specific strategies, iii) to explore different ways to assess students online. 91 faculty members completed the questionnaire in which findings indicated that: i) the majority of faculty stated that they gained the necessary skills to demonstrate instructor presence through communication and use of technological tools provided, ii) increased faculty confidence with course management strategies, iii) learning from peers is most effective – the Community of Practice is strengthened and valued even more as program alumni become facilitators. Although this professional development program is not mandatory for online instructors, since its launch in Fall 2014, over 152 online instructors have successfully completed the program. A Community of Practice emerged as a result of the program and participants continue to exchange thoughts and ideas about online teaching and learning.

Keywords: community of practice, customized, faculty development, inclusive design

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Authors: Maria De Los Angeles Ortega, Denis Bruneau, Patrick Sebastian, Jean-Pierre Nadeau, Alain Sommier, Saed Raji

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Phase change materials (PCM) present attractive features that made them a passive solution for thermal comfort assessment in buildings during summer time. They show a large storage capacity per volume unit in comparison with other structural materials like bricks or concrete. If their use is matched with the peak load periods, they can contribute to the reduction of the primary energy consumption related to cooling applications. Despite these promising characteristics, they present some drawbacks. Commercial PCMs, as paraffines, offer a low thermal conductivity affecting the overall performance of the system. In some cases, the material can be enhanced, adding other elements that improve the conductivity, but in general, a design of the unit that optimizes the thermal performance is sought. The material selection is the departing point during the designing stage, and it does not leave plenty of room for optimization. The PCM melting point depends highly on the atmospheric characteristics of the building location. The selection must relay within the maximum, and the minimum temperature reached during the day. The geometry of the PCM container and the geometrical distribution of these containers are designing parameters, as well. They significantly affect the heat transfer, and therefore its phenomena must be studied exhaustively. During its lifetime, an air-PCM unit in a building must cool down the place during daytime, while the melting of the PCM occurs. At night, the PCM must be regenerated to be ready for next uses. When the system is not in service, a minimal amount of thermal exchanges is desired. The aforementioned functions result in the presence of sensible and latent heat storage and release. Hence different types of mechanisms drive the heat transfer phenomena. An experimental test was designed to study the heat transfer phenomena occurring in a circular tube bundle air-PCM exchanger. An in-line arrangement was selected as the geometrical distribution of the containers. With the aim of visual identification, the containers material and a section of the test bench were transparent. Some instruments were placed on the bench for measuring temperature and velocity. The PCM properties were also available through differential scanning calorimeter (DSC) tests. An evolution of the temperature during both cycles, melting and solidification were obtained. The results showed some phenomena at a local level (tubes) and on an overall level (exchanger). Conduction and convection appeared as the main heat transfer mechanisms. From these results, two approaches to analyze the heat transfer were followed. The first approach described the phenomena in a single tube as a series of thermal resistances, where a pure conduction controlled heat transfer was assumed in the PCM. For the second approach, the temperature measurements were used to find some significant dimensionless numbers and parameters as Stefan, Fourier and Rayleigh numbers, and the melting fraction. These approaches allowed us to identify the heat transfer phenomena during both cycles. The presence of natural convection during melting might have been stated from the influence of the Rayleigh number on the correlations obtained.

Keywords: phase change materials, air-PCM exchangers, convection, conduction

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Authors: Vitus Onyebuchim Onyemailu, Olive Obianuju Okalibe

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The study tried to examine relationship between exchange rate variations on the balance of payments in Nigeria from 1970 to 2012. Using time series on econometric measures such as Granger causality and ordinary least square (OLS), the study found that exchange rate movements especially the depreciation of naira has not contributed significantly on the balance of payments under the year of the study. The granger result conform the Marshall-Lerner short and long run prepositions that exchange rate devaluation enhances balance of payments. On disaggregation exchange rate granger causes current and capital account balances give the Nigeria data from 1970 to 2012. Overall in the long run OLS regression analysis, exchange rate on semi log functional form, exchange rate variation did not record significant effect on balance of payment equation. This height was also maintained in the current or trade balance which does not match the Marshall-Lerner. The capital account balance in reverse reported a significant impact of exchange rate variability on the capital account balance. Finally, on exchange rate determination equation, where many fundamentals were considered including lagged of exchange rate. Thus, the lagged of exchange rate recorded a positive and significant influence on the present exchange rate. This means that players in the financial markets usually out plays authority’s policy’s stances through their speculative tendencies. The work therefore, recommend that effort should be made by the authorities to providing enabling environment for production of goods and services to triumph in order to take advantages of steady devaluation of its currency. This is done by providing infrastructure, provision of science and technology. Thus, when this is done Nigeria would be able to have competitive power against the rest of the world.

Keywords: exchange rate variation, balance of payments, current account, capital account, Marshall-Lerner hypothesis

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Authors: Soumya Chaturvedi

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Ever since India opened its doors for the world economy to enter, there has not been a single instance of recoil. A consequence of this move by the government of India resulted in India evolving as a consumer-driven market and in order to survive in this era of extreme competition, the corporate houses have employed every possible means to reach out and hit onto the sentiments of the consumers. The most obvious way to ensure a strong perseverance towards the specific product or brand is through celebrity endorsements. In a country like India, whose film industry accounts for the largest sales and output, it is indeed appalling to acknowledge the fact that it lacks an effective mechanism of protection of the commercial exploitation of celebrities’ attributes under the ambit of law. The western half of the globe has very well accepted and recognized the rights of the celebrities to decide upon the quantum of commercial exploitation of their own attributes and earn profit out of the same. However, the eastern half seems to be a little reluctant in accepting and enforcing these views per se. A celebrity has a right to publicity over the traits of his personality which involves voice, autographs, reputation, and style, so on and so forth as it is these attributes that are responsible for huge trade profits concerning the products to which such traits are attributed to. This clearly involves the right of the celebrity to benefit himself by commercially exploiting the same and refraining the unauthorized gain to third parties. The market is making it nearly impossible to proceed further with such weak laws considering the escalating rate of celebrity endorsements in the nation. This paper discusses the lacunae in law per se to identify a right as such by a celebrity over his traits that are potentially under the circle of commercial exploitation and the need of a definite legislation that would ensure a change in the paradigm of the Courts in India. Also, it discusses the only remedy available currently for violation, which is, a suit for passing off by Indian Courts under Trademark and Copyright laws and a comparison of the same with the mechanisms adopted by the legal systems across the globe.

Keywords: celebrity, rights, intellectual property, trademark, copyrights

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Authors: Abdullah Almulhim

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The International Accounting Standards Board (IASB) was established in 2001 to develop International Financial Reporting Standards (IFRS) that bring transparency, accountability, and efficiency to financial markets around the world. In addition, the IFRS provide a unified accounting language, which is especially important in the era of globalization. However, the establishment of a single set of high-quality international accounting standards is a matter of growing importance, as participants in the increasingly integrated world capital market demand comparability and transparency of financial reporting worldwide. Saudi Arabia became the 149th member of the World Trade Organization (WTO) on 11 December 2005, which has increased the need to convert to IFRS. Currently, the Saudi Arabian Monetary Authority (SAMA) requires banks and insurance companies in Saudi Arabia to report under IFRS Standards. However, until the end of 2016, SOCPA standards were applied to all other companies, listed and unlisted. From 2017, listed Saudi companies would be required to report under IFRS Standards as adopted by SOCPA effective 2017. This paper is to investigate the expected benefits gained and highlight the challenges faced by adopting IFRS by the listed companies in the Saudi Stock Exchange. Questionnaires were used as the main method of data collection. They were distributed to listed companies in the Saudi Capital Market. Data obtained through the questionnaires have been imported into SPSS statistical software for analysis. The expected results of this study will show the benefits of adopting IFRS by Saudi Listed Companies. However, this study will investigate the challenges faced by adopting IFRS by the listed companies in the Saudi Arabian Stock Market. Findings will be discussed later upon completion of initial analysis.

Keywords: challenges, IAS, IFRS, opportunities, Saudi, SOCPA

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Authors: Ji-Hoon Byeon, Kwon-Hee Lee

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Strainer filter serves to block the inflow of impurities while mixed fluid is entering or exiting the piping. The filter of the strainer has a perforated structure, so that the pressure drop and the velocity change necessarily occur when the mixed fluid passes through the filter. It is possible to predict the pressure drop and velocity change of the strainer by numerical analysis by implementing all the perforated plates. However, if the size of the perforated plate exceeds a certain size, it is difficult to perform the numerical analysis, and sometimes we cannot guarantee its accuracy. In this study, we tried to predict the pressure drop and velocity change by using the porous media technique to obtain the equivalent resistance without actual implementation of the perforation shape of the strainer. Ansys-CFX, a commercial software, is used to perform the numerical analysis. The analysis procedure is as follows. Firstly, the unit pattern of the perforated plate is modeled, and the pressure drop is analyzed by varying the velocity by symmetry of the wall surface. Secondly, since the equation for obtaining resistance is a quadratic equation of pressure having unknown velocity, the viscous resistance and the inertia resistance of the perforated plate are obtained from the relationship between pressure and speed. Thirdly, by using the calculated resistance values, the values are substituted into the flat plate implemented as a two-dimensional porous media, and the accuracy is verified by comparing the pressure drop and the velocity change. Fourthly, the pressure drop and velocity change in the whole strainer are analyzed by using the resistance values obtained on the perforated plate in the actual whole strainer model. Using the porous media technique, it is found that pressure drop and velocity change can be predicted in relatively short time without modeling the overall shape of the filter. Acknowledgements: This work was supported by the Valve Center from the Regional Innovation Center(RIC) Program of Ministry of Trade, Industry & Energy (MOTIE).

Keywords: strainer, porous media, CFD, numerical analysis

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