Search results for: financial regulatory structure

Authors: Yiping Meng, Yiming Sun

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The traditional construction industry is unable to meet the requirements for novel fabrication and construction. Automated construction and digital design have emerged as industry development trends that compensate for this shortcoming under the backdrop of Industrial Revolution 4.0. Benefitting from more flexible working space and more various end-effector tools compared to CNC methods, robot fabrication and construction techniques have been used in irregular architectural design. However, there is a lack of a systematic and comprehensive design and optimisation workflow considering geometric form, material, and fabrication methods. This paper aims to propose a design optimisation workflow for improving the rationality of a free-form timber structure fabricated by the robotic arm. Firstly, the free-form surface is described by NURBS, while its structure is calculated using the finite element analysis method. Then, by considering the characteristics and limiting factors of robotic timber fabrication, strain energy and robustness are set as optimisation objectives to optimise structural morphology by gradient descent method. As a result, an optimised structure with axial force as the main force and uniform stress distribution is generated after the structure morphology optimisation process. With the decreased strain energy and the improved robustness, the generated structure's bearing capacity and mechanical properties have been enhanced. The results prove the feasibility and effectiveness of the proposed optimisation workflow for free-form timber structure morphology design.

Keywords: robotic fabrication, free-form timber structure, Multi-objective optimisation, Structural morphology, rational design

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Authors: Cristian Păuna

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After the widespread release of electronic trading, automated trading systems have become a significant part of the business intelligence system of any modern financial investment company. An important part of the trades is made completely automatically today by computers using mathematical algorithms. The trading decisions are taken almost instantly by logical models and the orders are sent by low-latency automatic systems. This paper will present a real-time price prediction methodology designed especially for algorithmic trading. Based on the price cyclicality function, the methodology revealed will generate price cyclicality bands to predict the optimal levels for the entries and exits. In order to automate the trading decisions, the cyclicality bands will generate automated trading signals. We have found that the model can be used with good results to predict the changes in market behavior. Using these predictions, the model can automatically adapt the trading signals in real-time to maximize the trading results. The paper will reveal the methodology to optimize and implement this model in automated trading systems. After tests, it is proved that this methodology can be applied with good efficiency in different timeframes. Real trading results will be also displayed and analyzed in order to qualify the methodology and to compare it with other models. As a conclusion, it was found that the price prediction model using the price cyclicality function is a reliable trading methodology for algorithmic trading in the financial market.

Keywords: algorithmic trading, automated trading systems, financial markets, high-frequency trading, price prediction

Procedia PDF Downloads 169

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

Procedia PDF Downloads 88

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: Abdelali Laid, Abid Hamza, Zeroukhi Houari, Sayah Naimi

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This work relates to the study of the energy levels and the optimization of the Parameter intrinsic (a number of wells and their widths, width of barrier of potential, index of refraction etc.) and extrinsic (temperature, pressure) in the Structure laser diode containing the structure GaInP. The methods of calculation used; - method of the empirical pseudo potential to determine the electronic structures of bands, - graphic method for optimization. The found results are in concord with those of the experiment and the theory.

Keywords: semi-conductor, GaInP/AlGaInP, pseudopotential, energy, alliages

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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: Danny Manuel Calvo Velasco, Robert Sanchez Cano

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By using the transference matrix formalism, in this work, it is presented the study of the optical properties of the 1D graded structure, constructed by multiple bi-layers of dielectric and air, considering a redistribution of the material lengths following an arithmetic progression as a function of two parameters. It is presented a factorization for the transference matrices for the graded structure, which allows the interpretation of their optical properties in terms of the properties of simpler structures. It is shown that the graded structure presents new transmission peaks, which can be controlled by the parameter values located in frequencies for which a periodic system has a photonic bandgap. This result is extended to the case of a photonic crystal for which the unitary cell is the proposed graded structure, showing new transmission bands which are due to the multiple new sub-structures present in the system. Also, for the TE polarization, it is observed transmission bands' low frequencies which present low variation of its width and position with the incidence angle. It is expected that these results could guide a route in the design of new photonic devices.

Keywords: graded, material redistribution, photonic system, transference matrix

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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

Procedia PDF Downloads 94

Authors: Oossama Tabbabi, Mondher Labidi, Fethi Choubani, J. David

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Modern wireless communication systems require compact design, low cost and simple structure antennas to insure reliability, agility, and high efficiency characteristics. This paper presents a microstrip antenna array designed for 8 GHz applications. To reduce the mutual coupling effects, a Z shape metamaterial structure was imprinted in the microstrip antenna array composed of two elements. Simulation results show the improvement of mutual coupling by adding Z shape metamaterial structure to the antenna substrate. The proposed structure reduces mutual coupling by 19 dB. The simulation has been performed by using HFSS simulator.

Keywords: antenna array, compact design, modern wireless communication, mutual coupling effects

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Authors: Ayesha Waqar Khan, Mariam Altaf, Jamil Ahmad, Shaheen Shahzad

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Kidney fibrosis is an anticipated outcome of possibly all types of progressive chronic kidney disease (CKD). Epithelial-mesenchymal transition (EMT) signaling pathway is responsible for production of matrix-producing fibroblasts and myofibroblasts in diseased kidney. In this study, a discrete model of TGF-beta (transforming growth factor) and CTGF (connective tissue growth factor) was constructed using Rene Thomas formalism to investigate renal fibrosis turn over. The kinetic logic proposed by Rene Thomas is a renowned approach for modeling of Biological Regulatory Networks (BRNs). This modeling approach uses a set of constraints which represents the dynamics of the BRN thus analyzing the pathway and predicting critical trajectories that lead to a normal or diseased state. The molecular connection between TGF-beta, Smad 2/3 (transcription factor) phosphorylation and CTGF is modeled using GenoTech. The order of BRN is CTGF, TGF-B, and SMAD3 respectively. The predicted cycle depicts activation of TGF-B (TGF-β) via cleavage of its own pro-domain (0,1,0) and presentation to TGFR-II receptor phosphorylating SMAD3 (Smad2/3) in the state (0,1,1). Later TGF-B is turned off (0,0,1) thereby activating SMAD3 that further stimulates the expression of CTGF in the state (1,0,1) and itself turns off in (1,0,0). Elevated CTGF expression reactivates TGF-B (1,1,0) and the cycle continues. The predicted model has generated one cycle and two steady states. Cyclic behavior in this study represents the diseased state in which all three proteins contribute to renal fibrosis. The proposed model is in accordance with the experimental findings of the existing diseased state. Extended cycle results in enhanced CTGF expression through Smad2/3 and Smad4 translocation in the nucleus. The results suggest that the system converges towards organ fibrogenesis if CTGF remains constructively active along with Smad2/3 and Smad 4 that plays an important role in kidney fibrosis. Therefore, modeling regulatory pathways of kidney fibrosis will escort to the progress of therapeutic tools and real-world useful applications such as predictive and preventive medicine.

Keywords: CTGF, renal fibrosis signaling pathway, system biology, qualitative modeling

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Authors: Wasfi Al Salamat, Shaker Al-Kharouf

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

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

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Authors: Kolesnikova Julia, Fakhrutdinova Elena, Zagidullina Venera, Kamasheva Anastasia

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The article deals with the structure of intangible capital. A significant share of intangible capital is associated with a person as such and can be considered as human capital, which in turn also has a complex structure, including intellectual, social, organizational, client, reputational capital. We have allocated a separate category of intangible capital - unidentifiable capital, including a variety of synergistic interaction effects, etc. the structure of intangible capital. A significant share of intangible capital is associated with a person as such and can be considered as human capital, which in turn also has a complex structure, including intellectual, social, organizational, client, reputational capital. We have allocated unidentifiable capital as a separate category of intangible capital, including a variety of synergistic interaction effects and other.

Keywords: intangible capital, intangible property, object of intangible property, reputation capital

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Authors: Jinkoo Kim, Minsung Kim

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This study develops a hybrid seismic energy dissipation device composed of a viscoelastic damper and a steel slit damper connected in parallel. A cyclic loading test is conducted on a test specimen to validate the seismic performance of the hybrid damper. Then a moment-framed model structure is designed without seismic load so that it is retrofitted with the hybrid dampers. The model structure is transformed into an equivalent simplified system to find out optimum story-wise damper distribution pattern using genetic algorithm. The effectiveness of the hybrid damper is investigated by fragility analysis and the life cycle cost evaluation of the structure with and without the dampers. The analysis results show that the model structure has reduced probability of reaching damage states, especially the complete damage state, after seismic retrofit. The expected damage cost and consequently the life cycle cost of the retrofitted structure turn out to be significantly small compared with those of the original structure. Acknowledgement: This research was supported by the Ministry of Trade, Industry and Energy (MOTIE) and Korea Institute for Advancement of Technology (KIAT) through the International Cooperative R & D program (N043100016).

Keywords: seismic retrofit, slit dampers, friction dampers, hybrid dampers

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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: Imoukhuede Oladunni Bimpe, Ale Monday Olatunbosun

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Periodic scarcity of onion requires urgent solution in Nigerian agro-economy. The high percentage of onion losses incurred after harvesting period is due to non-availability of appropriate facility for its storage. Therefore, some storage structures were constructed with different roofing materials. The response of the materials to the weather parameters like temperature and relative humidity were evaluated to know their effects on the performance of the storage structures. The temperature and relative humidity were taken three times daily alongside with the weight of the onion in each of the structures; the losses as indicated by loss indices like shrinkage, rottenness, sprouting and colour were identified and percentage loss per week determined. The highest mean percentage loss (22%) was observed in the structure with iron roofing materials while structure with thatched materials had the lowest (9.4%); The highest temperature was observed in the structure with Asbestos roofing materials and no significant difference in the temperature value in the structure with thatched and Iron materials; highest relatively humidity was found in Asbestos roofing material while the lowest in the structure with Iron materials. It was conclusively found that the storage structure with thatched roof had the best performance in terms of losses.

Keywords: onion, storage structures, weather parameters, roof materials, losses

Procedia PDF Downloads 587

Authors: Sun Fan, Wu Xiaoguang, Fang Miaomiao, Wei Chi

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The degree of damage to the support is simulated by finite element software, and its influence on the static and dynamic effects of the bridge structure is analyzed. Four working conditions are selected for the study of bearing damage impact: the bearing is intact (condition 1), the bearing damage coefficient is 0.8 (condition 2), the bearing damage coefficient is 0.6 (condition 3), and the bearing damage coefficient is 0.4 (Working Condition 4). The effect value of the bridge structure under each working condition is calculated, and the simple-supported girder bridge and continuous girder bridge with typical spans are taken as examples to analyze the overall change of the bridge structure after the bearing completely fails.

Keywords: bridge bearing damage, dynamic response, finite element analysis, load conditions

Procedia PDF Downloads 215

Authors: Ladan Maijama’a, Jibril D. Jiya, Ejike C. Anene

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This paper presents Differential Evolution Algorithm (DEA) based Variable Structure Position Control (VSPC) of Laboratory DC servomotor (LDCSM). DEA is employed for the optimal tuning of Variable Structure Control (VSC) parameters for position control of a DC servomotor. The VSC combines the techniques of Sliding Mode Control (SMC) that gives the advantages of small overshoot, improved step response characteristics, faster dynamic response and adaptability to plant parameter variations, suppressed influences of disturbances and uncertainties in system behavior. The results of the simulation responses of the VSC parameters adjustment by DEA were performed in Matlab Version 2010a platform and yield better dynamic performance compared with the untuned VSC designed.

Keywords: differential evolution algorithm, laboratory DC servomotor, sliding mode control, variable structure control

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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: 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: Yee Hooi Min, Abdul Hadi, M. N., A. G. Kay Dora

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Form-finding has to be carried out for tensioned fabric structure in order to determine the initial equilibrium shape under prescribed support condition and pre-stress pattern. Tensioned fabric structures are normally designed to be in the form of equal tensioned surface. Tensioned fabric structure is highly suited to be used for realizing surfaces of complex or new forms. However, research study on a new form as a tensioned fabric structure has not attracted much attention. Another source of inspiration minimal surface which could be adopted as form for tensioned fabric structure is very crucial. The aim of this study is to propose initial equilibrium shape of tensioned fabric structures in the form of Monkey Saddle. Computational form-finding is frequently used to determine the possible form of uniformly stressed surfaces. A tensioned fabric structure must curve equally in opposite directions to give the resulting surface a three dimensional stability. In an anticlastic doubly curved surface, the sum of all positive and all negative curvatures is zero. This study provides an alternative choice for structural designer to consider the Monkey Saddle applied in tensioned fabric structures. The results on factors affecting initial equilibrium shape can serve as a reference for proper selection of surface parameter for achieving a structurally viable surface. Such in-sight will lead to improvement of rural basic infrastructure, economic gains, sustainability of built environment and green technology initiative.

Keywords: anticlastic, curvatures, form-finding, initial equilibrium shape, minimal surface, tensioned fabric structure

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Authors: Anny Lucrece Nlend Nkott, Ludovic Temple

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The appearance in 2012 of the CRISPR-CaS9 genome editing technique marks a turning point in the field of genetics. This technique would make it possible to create new varieties quickly and cheaply. Although some consider CRISPR-CaS9 to be revolutionary, others consider it a potential societal threat. To document the controversy, we explain the socioeconomic conditions under which this technique could be accepted for the creation of a rainfed rice variety in Madagascar. The methodological framework is based on 38 individual and semistructured interviews, a multistakeholder forum with 27 participants, and a survey of 148 rice producers. Results reveal that the acceptability of genome editing requires (i) strengthening the seed system through the operationalization of regulatory structures and the upgrading of stakeholders' knowledge of genetically modified organisms, (ii) assessing the effects of the edited variety on biodiversity and soil nitrogen dynamics, and (iii) strengthening the technical and human capacities of the biosafety body. Structural mechanisms for regulating the seed system are necessary to ensure safe experimentation of genome editing techniques. Organizational innovation also appears to be necessary. The study documents how collective learning between communities of scientists and nonscientists is a component of systemic processes of varietal innovation. This study was carried out with the financial support of the GENERICE project (Generation and Deployment of Genome-Edited, Nitrogen-use-Efficient Rice Varieties), funded by the Agropolis Foundation.

Keywords: CRISPR-CaS9, varietal innovation, seed system, innovation system

Procedia PDF Downloads 132

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: 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: M. R. Bekli, N. Mebarki, I. Chadou

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In this study, we focus on the structure functions and violation of scale invariance in the context of non-commutative standard model (NCSM). We find that this violation appears in the first order of perturbation theory and a non-commutative version of the DGLAP evolution equation is deduced. Numerical analysis and comparison with experimental data imposes a new bound on the non-commutative parameter.

Keywords: NCSM, structure function, DGLAP equation, standard model

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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: Baglan Bazylova

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The purpose of our article is to consider the social and psychological conflicts in Lyudmila Petrushevskaya’s stories as an artistic presentation of gender structure of modern society; to reveal originality of the characters’ inner world, the models of their behavior expressing the gender specific nature of modern feminine prose. Gender conflicts have taken the leading place in the modern prose. L. Petrushevskaya represents different types of conflicts including those which are shown in the images of real contradictions in the stories "Narratrix", "Thanks to Life”, "Virgin's Case", "Father and Mother". In the prose of Petrushevskaya the gender conflicts come out in two dimensions: The first one is love relations between a man and a woman. Because of the financial indigence, neediness a woman can’t afford herself even to fall in love and arrange her family happiness. The second dimension is the family conflict because of the male adultery. Petrushevskaya fixed on the unmanifistated conflict in detail. In the real life such gender conflict can appear in different forms but for the writer is important to show it as a life basis, hidden behind the externally safe facade of “the family happiness”. In the stories of L. Petrushevskaya the conflicts reflect the common character of the social and historical situations in which her heroines find themselves, in situations where a woman feels her opposition to the customary mode of life. The types of gender conflicts of these stories differ in character of verbal images. They are presented by the verbal and event ranks creating the conflicts just in operation.

Keywords: gender behavior of heroes, gender conflict, gender picture of the world, gender structure

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Authors: Lara Al-Haddad, Mark Whittington

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This paper aims to examine the impact of two influential internal corporate governance mechanisms, namely board characteristics and ownership structure on the use of real activities-based and accrual-based earnings management by Jordanian public firms. Using panel data from Jordanian public firms after the introduction of the Jordanian Corporate Governance Code (JCGC) in 2009, the study finds both institutional ownership and managerial ownership constrain the use of real and accrual earnings manipulations. On the other side, both independent directors and largest shareholders are found to exaggerate the incidence of using real and accrual earnings management. The study also examines the trade-off between real and accrual earnings management and found that Jordanian firms use a combination of real and accrual-based earnings management to obtain the greatest effect on earnings reporting strategies. For the purpose of this study, three types of real earnings management are considered: sales manipulation, overproduction, and the abnormal reduction of discretionary expenditures. The abnormal discretionary accrual is considered for accruals management. While for the internal corporate governance mechanisms; board characteristics are examined by using board independence, board size, and CEO-duality; and ownership structure is examined by using managerial ownership, institutional ownership, foreign ownership and largest shareholder ownership. To the best knowledge of the researchers, this study is the first to examine the relationship between board characteristics and real earnings management in Jordan. Further, it is the first to examine the relationship between corporate governance mechanisms and discretionary accruals after the introduction of the Jordanian Corporate Governance Code in 2009. Thus, the findings of this study have important policy implications for policymakers, regulators, standard setters, audit professional, and investors in their attempts to constrain the practice of earnings management, whether real or accrual, and to improve the financial reporting quality in Jordan.

Keywords: board characteristics, Jordan, ownership structure, real earnings management

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Authors: Carlos H. Cuadra

Abstract:

Seismic isolation can be used as a retrofit method for historical buildings with the advantage that minimum intervention on super-structure is required. However, selection of isolation devices depends on weight and stiffness of upper structure. In this study, two buildings are considered for analyses to evaluate the applicability of this retrofitting methodology. Both buildings are located at Akita prefecture in the north part of Japan. One building is a wooden structure that corresponds to the old council meeting hall of Noshiro city. The second building is a brick masonry structure that was used as house of a foreign mining engineer and it is located at Ani town. Ambient vibration measurements were performed on both buildings to estimate their dynamic characteristics. Then, target period of vibration of isolated systems is selected as 3 seconds is selected to estimate required stiffness of isolation devices. For wooden structure, which is a light construction, it was found that natural rubber isolators in combination with friction bearings are suitable for seismic isolation. In case of masonry building elastomeric isolator can be used for its seismic isolation. Lumped mass systems are used for seismic response analysis and it is verified in both cases that seismic isolation can be used as retrofitting method of historical construction. However, in the case of the light building, most of the weight corresponds to the reinforced concrete slab that is required to install isolation devices.

Keywords: historical building, finite element method, masonry structure, seismic isolation, wooden structure

Procedia PDF Downloads 141

Authors: Nadezhda Kvatashidze, Elena Kharabadze

Abstract:

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

Procedia PDF Downloads 301

Authors: So-Young Ju, Sung-Mi Jo, Eui-Rim Jeong

Abstract:

In this paper, based on the conventional single carrier frequency domain equalization (SC-FDE) structure, we propose a new SC-FDE structure to cope with narrowband jammer. In the conventional SC-FDE structure, channel estimation is performed in the time domain. When a narrowband jammer exists, time-domain channel estimation is very difficult due to high power jamming interference, which degrades receiver performance. To relieve from this problem, a new SC-FDE frame is proposed to enable channel estimation under narrow band jamming environments. In this paper, we proposed a modified SC-FDE structure that can perform channel estimation in the frequency domain and verified the performance via computer simulation.

Keywords: channel estimation, jammer, pilot, SC-FDE

Procedia PDF Downloads 462