Search results for: firm mission

Authors: Ginevra Addis

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The possibility of reproducing physical artifacts in a digital format is one of the opportunities offered by the technological advancements in information and communication most frequently promoted by museums. Indeed, the study and conservation of our cultural heritage have seen significant advancement due to the three-dimensional acquisition and modeling technology. A variety of laser scanning systems has been developed, based either on optical triangulation or on time-of-flight measurement, capable of producing digital 3D images of complex structures with high resolution and accuracy. It is necessary, however, to explore the challenges and opportunities that this practice brings within museums. The purpose of this paper is to understand what change is introduced by digital techniques in those museums that are hosting digital masterpieces. The methodology used will investigate three distinguished Italian exhibitions, related to the territory of Milan, trying to analyze the following issues about museum practices: 1) how digitizing art masterpieces increases the number of visitors; 2) what the need that calls for the digitization of artworks; 3) which techniques are most used; 4) what the setting is; 5) the consequences of a non-publication of hard copies of catalogues; 6) envision of these practices in the future. Findings will show how interconnection plays an important role in rebuilding a collection spread all over the world. Secondly how digital artwork duplication and extension of reality entail new forms of accessibility. Thirdly, that collection and preservation through digitization of images have both a social and educational mission. Fourthly, that convergence of the properties of different media (such as web, radio) is key to encourage people to get actively involved in digital exhibitions. The present analysis will suggest further research that should create museum models and interaction spaces that act as catalysts for innovation.

Keywords: digital masterpieces, education, interconnection, Italian museums, preservation

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Authors: Tien Hui Chiang

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Along with the predominant influence of neo-liberalism, public managerialism is viewed as a panacea for curing the institutionalized weakness caused by the monopoly of the public sector. In the name of efficiency, its outcome-led approach acquires a legitimate status and, in turn, it transforms into the discourse of performativity, reformulating the souls of individual members into the form of docile bodies who are willing to demonstrate their own ability in organizational contributions. The evaluation system and the organizational reconstruction are viewed as the crucial means for achieving this mission. Inevitably, university teachers are confined within a rigid and bureaucratic setting, in which they do not have too much latitude but are subject to the commands of senior administrators. However, the notion of duality highlights the interaction between structural constraints and agency. If the actor discovers the rules or properties of social structure, he/she is able to transform structural constraints into resources for developing creative actions, conceptualized as an agency. This study was designed for examining how duality operates within this hierarchical arrangement formed by public managerialism. Fourteen informants were interviewed from February to August 2014. The findings show that the evaluation system created the culture of neo-academicalism, addressing excellence in research and, in turn, motivating academic-oriented teachers. This correspondence provided a gateway for them to win honor, dignity, and prestige in groups. However, unlike the concept of duality, this agency was operating within the institutionalized context, regulated by structural constraint. Furthermore, complying with the rule/property of social structure was able to secure their advantages.

Keywords: public managerialism, social discourse, neo-academicalism, duality, structural constraint, agency

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Authors: Ilham Benali, Nasser Hajji, Nawfal Acha

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Given the fact that the pharmaceutical industry is a commonly studied sector in the context of innovation, the majority of innovation research is devoted to the developed markets known by high research and development (R&D) assets and intensive innovation. In contrast, in developing countries where R&D assets are very low, there is relatively little research to mention in the area of pharmaceutical sector innovation, characterized mainly by two principal elements which are the presence of foreign-owned firms and licensed manufacturing agreements between local firms and multinationals. With the scarcity of research in this field, this paper attempts to study the effect of these two elements on the firms’ innovation tendencies. Other traditional factors that influence innovation, which are the age and the size of the firm, the R&D activities and the market structure, revealed in the literature review, will be included in the study in order to try to make this work more exhaustive. The study starts by examining innovation tendency in pharmaceutical firms located in developing countries before analyzing the effect of foreign-owned firms and licensed manufacturing agreements between local firms and multinationals on technological, organizational and marketing innovation. Based on the related work and on the theoretical framework developed, there is a probability that foreign-owned firms and licensed manufacturing agreements between local firms and multinationals have a negative influence on technological innovation. The opposite effect is possible in the case of organizational and marketing innovation.

Keywords: developing countries, foreign owned firms, innovation, licensed manufacturing agreements, pharmaceutical industry

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Authors: Suresh Reddi, Mathew Leslie, Vishnu S. Das

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Sustainable design is a prominent concept across all sectors of engineering and its importance is widely recognized within the Arabian Gulf region. Despite that sustainable or soft engineering options are not widely deployed in coastal engineering projects and a preference for utilizing ‘hard engineering’ solutions remain. The concept of soft engineering lies in “working together” with the nature to manage the coastline. This approach allows hard engineering options, such as breakwaters or sea walls, to be minimized or even eliminated altogether. Hard structures provide a firm barrier to wave energy or flooding, but in doing so they often have a significant impact on the natural processes of the coastline. This may affect the area locally or impact on neighboring zones. In addition, they often have a negative environmental impact and may create a sense of disconnect between the marine environment and local users. Soft engineering options, seek to protect the coastline by working in harmony with the natural process of sediment transport/budget. They often consider new habitat creation and creating usable spaces that will increase the sense of connection with nature. Often soft engineering options, where appropriately deployed can provide a low-maintenance, aesthetically valued, natural line of coastal protection. This paper deals with an overview of the following: The widely accepted soft engineering practices across the world; How this approach has been considered by Ramboll in some recent projects in Middle East and Asia; Challenges and barriers to use in using soft engineering options in the region; Way forward towards more widespread adoption.

Keywords: coastline, hard engineering, low maintenance, soft engineering options

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Authors: Farzad Jafarpour Taher, Maghsud Solimanpur

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Production planning is one of the complex tasks in multi-product firms that produce a wide range of products. Since resources in mass production companies are limited and different products use common resources, there must be a careful plan so that firms can respond to customer needs efficiently. Azar-battery Company is a firm that provides twenty types of products for its customers. Therefore, careful planning must be performed in this company. In this research, the current conditions of Azar-battery Company were investigated to provide a mathematical programming model to determine the optimum production rate of the products in this company. The production system of this company is multi-stage, multi-product and multi-period. This system is studied in terms of a one-year planning horizon regarding the capacity of machines and warehouse space limitation. The problem has been modeled as a linear programming model with deterministic demand in which shortage is not allowed. The objective function of this model is to minimize costs (including raw materials, assembly stage, energy costs, packaging, and holding). Finally, this model has been solved by Lingo software using the branch and bound approach. Since the computation time was very long, the solver interrupted, and the obtained feasible solution was used for comparison. The proposed model's solution costs have been compared to the company’s real data. This non-optimal solution reduces the total production costs of the company by about %35.

Keywords: multi-period, multi-product production, multi-stage, production planning

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Authors: Muhammad Umar Kiani, Muhammad Shahbaz

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Performance of any vehicle can be predicted by its design/modeling and optimization. Design optimization leads to efficient performance. Followed by horizontal launch, the air launch re-entry vehicle undergoes a launch maneuver by introducing a carefully selected angle of attack profile. This angle of attack profile is the basic element to complete a specified mission. Flight program of said vehicle is optimized under the constraints of the maximum allowed angle of attack, lateral and axial loads and with the objective of reaching maximum altitude. The main focus of this study is the endo-atmospheric phase of the ascent trajectory. A three degrees of freedom trajectory model is simulated in MATLAB. The optimization process uses evolutionary algorithm, because of its robustness and efficient capacity to explore the design space in search of the global optimum. Evolutionary Algorithm based trajectory optimization also offers the added benefit of being a generalized method that may work with continuous, discontinuous, linear, and non-linear performance matrix. It also eliminates the requirement of a starting solution. Optimization is particularly beneficial to achieve maximum advantage without increasing the computational cost and affecting the output of the system. For the case of launch vehicles we are immensely anxious to achieve maximum performance and efficiency under different constraints. In a launch vehicle, flight program means the prescribed variation of vehicle pitching angle during the flight which has substantial influence reachable altitude and accuracy of orbit insertion and aerodynamic loading. Results reveal that the angle of attack profile significantly affects the performance of the vehicle.

Keywords: endo-atmospheric, evolutionary algorithm, efficient performance, optimization process

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Authors: Cupian

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The expansion of Islamic banking industry seems to emphasize the banking competition in Indonesia where conventional and Islamic banks coexist. In addition, the 2007/2008 global financial crisis and deregulation have the effect on competitive conditions in Islamic banking market. In this context, this study aims at investigating competitive conditions and market power of Islamic banks in Indonesia using firm level data over the period 2006-2013. The study also attempts to identify the factors that represent the power of banking market to better study the degree of competition in this banking industry. Using samples of 27 Islamic commercial banks, the study uses a variety of structural and non-structural measures related to the traditional approach and the new empirical approach of the industrial organization (NEIO). The methodology is based on the set of measures of the competition and market power. The first measure is a set of concentration ratios (CR4) and Herfindahl-Hirschman index (HHI).The second measures are the Panzar and Ross H-statistic and the Lerner index based on econometric estimations with the aim of evaluating the market structure and measuring its power in terms of price setting. The results of the competition analysis suggest that the Islamic banking markets in Indonesia cannot be characterized by the bipolar cases of either perfect competition or monopoly over 2006-2013. That is, banks earned their revenues operating under conditions of monopolistic competition in that period. Overall, Islamic banks in Indonesia operate in a relatively less competitive environment or in high market power. It is also indicated that Islamic bank that hope to achieve higher returns should operate in the competitive environment.

Keywords: bank competition, islamic banks, market structure, profitability

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Authors: Haruna Maama

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Environmental, social and governance (ESG) reporting is gaining considerable attention despite being voluntary. Meanwhile, it consumes resources to provide ESG reporting, raising a question of its value relevance. The study examined the impact of ESG reporting on the market value of listed firms in SSA. The annual and integrated reports of 276 listed sub-Sahara Africa (SSA) firms. The integrated reporting scores of the firm were analysed using a content analysis method. A multiple regression estimation technique using a GMM approach was employed for the analysis. The results revealed that ESG has a positive relationship with firms’ market value, suggesting that investors are interested in the ESG information disclosure of firms in SSA. This suggests that extensive ESG disclosures are attempts by firms to obtain the approval of powerful social, political and environmental stakeholders, especially institutional investors. Furthermore, the market value analysis evidence is consistent with signalling theory, which postulates that firms provide integrated reports as a signal to influence the behaviour of stakeholders. This finding reflects the value placed on investors' social, environmental and governance disclosures, which affirms the views that conventional investors would care about the social, environmental and governance issues of their potential or existing investee firms. Overall, the evidence is consistent with the prediction of signalling theory. In the context of this theory, integrated reporting is seen as part of firms' overall competitive strategy to influence investors' behaviour. The findings of this study make unique contributions to knowledge and practice in corporate reporting.

Keywords: environmental accounting, ESG accounting, signalling theory, sustainability reporting, sub-saharan Africa

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Authors: David Koren, Vojko Kilar

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The modern energy-efficient houses are often founded on a thermal insulation (TI) layer placed under the building’s RC foundation slab. The purpose of the paper is to identify the potential problems of the buildings founded on TI layer from the seismic point of view. The two main goals of the study were to assess the seismic behavior of such buildings, and to search for the critical structural parameters affecting the response of the superstructure as well as of the extruded polystyrene (XPS) layer. As a test building a multi-storeyed RC frame structure with and without the XPS layer under the foundation slab has been investigated utilizing nonlinear dynamic (time-history) and static (pushover) analyses. The structural response has been investigated with reference to the following performance parameters: i) Building’s lateral roof displacements, ii) Edge compressive and shear strains of the XPS, iii) Horizontal accelerations of the superstructure, iv) Plastic hinge patterns of the superstructure, v) Part of the foundation in compression, and vi) Deformations of the underlying soil and vertical displacements of the foundation slab (i.e. identifying the potential uplift). The results have shown that in the case of higher and stiff structures lying on firm soil the use of XPS under the foundation slab might induce amplified structural peak responses compared to the building models without XPS under the foundation slab. The analysis has revealed that the superstructure as well as the XPS response is substantially affected by the stiffness of the foundation slab.

Keywords: extruded polystyrene (XPS), foundation on thermal insulation, energy-efficient buildings, nonlinear seismic analysis, seismic response, soil–structure interaction

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Authors: Sana Masmoudi Mardassi, Yosra Makni Fourati

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Regulators highlight the importance of the Audit Committee (AC) as a key internal corporate governance mechanism. One of the most important roles of this committee is to oversee the financial reporting process. The purpose of this paper is to examine the link between the characteristics of an audit committee and the financial reporting quality by investigating whether the characteristics of audit committees are associated with improved financial reporting quality, especially the Real Earnings Management. In the current study, a panel data from 80 nonfinancial companies listed on the Amsterdam Stock Exchange during the period between 2010 and 2017 were used. To measure audit committee characteristics, four proxies have been used, specifically, audit committee independence, financial expertise, gender diversity and AC meetings. For this research, a linear regression model was used to identify the influence of a set of board characteristics of the audit committee on real earnings management after controlling for firm audit committee size, leverage, size, loss, growth and board size. This research provides empirical evidence of the association between audit committee independence, financial expertise, gender diversity and meetings and Real Earnings Management (REM) as a proxy of financial reporting quality. The study finds that independence and AC Gender diversity are strongly related to financial reporting quality. In fact, these two characteristics constrain REM. The results also suggest that AC- financial expertise reduces to some extent, the likelihood of engaging in REM. These conclusions provide support then to the audit committee requirement under the Dutch Corporate Governance Code rules regarding gender diversity and AC meetings.

Keywords: audit committee, financial expertise, independence, real earnings management

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Authors: Shashank Gupta, Iteash Agarwal, Vijayalaxmi Mogiligidda, Rajesh Kumar Krishnan, Sruthi Chennuri, Deepika Aggarwal, Anwesha Hoodati, Sheroy Cooper, Ranjan, Mohammad Bilal Sheik, Bhavya K. M., Manasa Hegde, M. Naveen Krishna, Amit Kumar Chauhan, Mallikarjun Korrapati, Sumit Singh, J. B. Singh, Sunil Sud, Sunil Gupta, Sidhartha Pant, Sankar, Neha Agrawal, Ashish Ranjan, Piyush Mohapatra, Roopak T., Arsh Ahmad, Nanjunda M., Dilip Singh

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Major research interests on quantum key distribution (QKD) are primarily focussed on increasing 1. point-to-point transmission distance (1000 Km), 2. secure key rate (Mbps), 3. security of quantum layer (device-independence). It is great to push the boundaries on these fronts, but these isolated approaches are neither scalable nor cost-effective due to the requirements of specialised hardware and different infrastructure. Current and future QKD network requires addressing different sets of challenges apart from distance, key rate, and quantum security. In this regard, we present ChaQra -a sub-quantum network with core features as 1) Crypto agility (integration in the already deployed telecommunication fibres), 2) Software defined networking (SDN paradigm for routing different nodes), 3) reliability (addressing denial-of-service with hybrid quantum safe cryptography), 4) upgradability (modules upgradation based on scientific and technological advancements), 5) Beyond QKD (using QKD network for distributed computing, multi-party computation etc). Our results demonstrate a clear path to create and accelerate quantum secure Indian subcontinent under the national quantum mission.

Keywords: quantum network, quantum key distribution, quantum security, quantum information

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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: Nongyao Intasaso, Atchara Rattanama, Navarat Pewnual

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This research is survey research purposed to study the factor affected to knowledge management efficiency of personnel in Rajamangala University of Technology Srivijaya, and study the problem of knowledge management affected to knowledge development of personnel in the university. The tool used in this study is structures questioner standardize rating scale in 5 levels. The sample selected by purposive sampling and there are 137 participation calculated in 25% of population. The result found that factor affected to knowledge management efficiency in the university included (1) result from the organization factor found that the university provided project or activity that according to strategy and mission of knowledge management affected to knowledge management efficiency in highest level (x̅ = 4.30) (2) result from personnel factor found that the personnel are eager for knowledge and active to learning to develop themselves and work (Personal Mastery) affected to knowledge management efficiency in high level (x̅ = 3.75) (3) result from technological factor found that the organization brought multimedia learning aid to facilitate learning process affected to knowledge management efficiency in high level (x̅ = 3.70) and (4) the result from learning factor found that the personnel communicated and sharing knowledge and opinion based on acceptance to each other affected to knowledge management efficiency in high level (x̅ = 3.78). The problem of knowledge management in the university included the personnel do not change their work behavior, insufficient of collaboration, lack of acceptance in knowledge and experience to each other, and limited budget. The solutions to solve these problems are the university should be support sufficient budget, the university should follow up and evaluate organization development based on knowledge using, the university should provide the activity emphasize to personnel development and assign the committee to process and report knowledge management procedure.

Keywords: knowledge management, efficiency, personnel, learning process

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Authors: Jasper Kevin C. Dionisio, Denise Mae M. Unsay

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In a manufacturing firm, controlling the process ensures that optimum efficiency, productivity, and quality in an organization are achieved. An operation with no standardized procedure yields a poor productivity, inefficiency, and an out of control process. This study focuses on controlling the small intestine processing of a chicken dressing plant through the use of Statistical Process Control (SPC). Since the operation does not employ a standard procedure and does not have an established standard time, the process through the assessment of the observed time of the overall operation of small intestine processing, through the use of X-Bar R Control Chart, is found to be out of control. In the solution of this problem, the researchers conduct a motion and time study aiming to establish a standard procedure for the operation. The normal operator was picked through the use of Westinghouse Rating System. Instead of utilizing the traditional motion and time study, the researchers used the X-Bar R Control Chart in determining the process average of the process that is used for establishing the standard time. The observed time of the normal operator was noted and plotted to the X-Bar R Control Chart. Out of control points that are due to assignable cause were removed and the process average, or the average time the normal operator conducted the process, which was already in control and free form any outliers, was obtained. The process average was then used in determining the standard time of small intestine processing. As a recommendation, the researchers suggest the implementation of the standard time established which is with consonance to the standard procedure which was adopted from the normal operator. With that recommendation, the whole operation will induce a 45.54 % increase in their productivity.

Keywords: motion and time study, process controlling, statistical process control, X-Bar R Control chart

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Authors: Vildan Kistik, Tuncay Can

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From a business perspective, cost and profit are two key factors for businesses. The intent of most businesses is to minimize the cost to maximize or equalize the profit, so as to provide the greatest benefit to itself. However, the physical system is very complicated because of technological constructions, rapid increase of competitive environments and similar factors. In such a system it is not easy to maximize profits or to minimize costs. Businesses must decide on the competence and competence of the personnel to be recruited, taking into consideration many criteria in selecting personnel. There are many criteria to determine the competence and competence of a staff member. Factors such as the level of education, experience, psychological and sociological position, and human relationships that exist in the field are just some of the important factors in selecting a staff for a firm. Personnel selection is a very important and costly process in terms of businesses in today's competitive market. Although there are many mathematical methods developed for the selection of personnel, unfortunately the use of these mathematical methods is rarely encountered in real life. In this study, unlike other methods, an exponential programming model was established based on the possibilities of failing in case the selected personnel was started to work. With the necessary transformations, the problem has been transformed into unconstrained Geometrical Programming problem and personnel selection problem is approached with geometric programming technique. Personnel selection scenarios for a classroom were established with the help of normal distribution and optimum solutions were obtained. In the most appropriate solutions, the personnel selection process for the classroom has been achieved with minimum cost.

Keywords: geometric programming, personnel selection, non-linear programming, operations research

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Authors: Pardhasaradhi Gudla, Imanual A.

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The generated electrical power in offshore needs to be transmitted to grid which is located in onshore by using subsea cables. Long subsea cables produce reactive power, which should be compensated in order to limit transmission losses, to optimize the transmission capacity, and to keep the grid voltage within the safe operational limits. Installation cost of wind farm includes the structure design cost and electrical system cost. India has targeted to achieve 175GW of renewable energy capacity by 2022 including offshore wind power generation. Due to sea depth is more in India, the installation cost will be further high when compared to European countries where offshore wind energy is already generating successfully. So innovations are required to reduce the offshore wind power project cost. This paper presents the optimized techniques to reduce the installation cost of offshore wind firm with respect to electrical transmission systems. This technical paper provides the techniques for increasing the current carrying capacity of subsea cable by decreasing the reactive power generation (capacitance effect) of the subsea cable. There are many methods for reactive power compensation in wind power plants so far in execution. The main reason for the need of reactive power compensation is capacitance effect of subsea cable. So if we diminish the cable capacitance of cable then the requirement of the reactive power compensation will be reduced or optimized by avoiding the intermediate substation at midpoint of the transmission network.

Keywords: offshore wind power, optimized techniques, power system, sub sea cable

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Authors: Hassan Mohmed, Mohamed Ismail, Aiman Rezk

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Introduction: This project aims to document and preserve decorated wooden coffins which were discovered in Luxor by Egyptian mission at Luxor, (SR Numbers:2514,2519,2520,2521,5469).These decorated wooden coffins dates back to Egyptian New Kingdom period and has been transferred to the Cairo Museum, to be displayed at the museum. These decorated wooden coffins discovered in the cache-tomb of Bab el-gasus at Deir el-Bahari, Luxor. This site has been dictated for the burials of priests of Amun through 18th Dynasty the coffins owners held these titles, which are as follows: "the embalmer of the beautiful-house (the place of embalming)" and "the servant in the place of truth". Methodology: Methodology: The project objectives making such decorated wooden coffins more visible to visitors through the use of 3D reconstructed coffins and high resolution photos which describe the history of using the wooden coffins during the Ancient Egyptian history Especially, The Cairo Museum is going to exhibit decorated wooden coffins in New kingdom. The project goals is to document decorated wooden coffins and arrange an exhibition, where such decorated wooden coffins going to be displayed next to the Ramses 2nd coffin, This research focuses on the text analyses and the technology. Paleographic information found on these objects. Conclusion: The project shows the importance of using coffins in Ancient Egypt, and connecting their usage through Ancient Egyptian periods; the coffins had a unique Symbolized in ancient Egypt and connect the public with their kings. The Egyptian put coffins in their tombs that they hope to save their bodies’ afterlife. This research will be beneficial and useful for the heritage and ancient civilizations, Indeed this study will open a destination in order to know how to identify these collections and how to exhibit them commensurate with the natural of the ancient Egyptian history and heritage.

Keywords: archaeology, decorated wooden coffins, 3D digital tools for heritage management, museums

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Authors: Gupta Indu

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This paper aims to examine the relationship between foreign direct investment and globalization. Foreign direct investment plays an important role in globalization. It is dramatically increasing in the age of globalization. It has played an important role for economic growth in this global process. It can provide new markets and marketing channels, cheaper production facilities, access to new technology, products to a firm. FDI has come to play a major role in the internationalization of business. FDI has become even more important than trade. Growing liberalization of the national regulatory framework governing investment in enterprises and changes in capital markets profound changes have occurred in the size, scope and methods of FDI. New information technology systems, decline in global communication costs have made management of foreign investments far easier than in the past. FDI provide opportunities to host countries to enhance their economic development and opens new opportunities to home countries to optimize their earnings by employing their ideal resources. Smaller and weaker economies can drive out much local competition. For small and medium sized companies, FDI represents an opportunity to become more actively involved in international business activities. In the past decade, foreign direct investment has expanded its role by change in trade policy, investment policy, tariff liberalization, easing of restrictions on foreign investment and acquisition in many nations, and the deregulation and privatization of many industries. In present competitive scenario, FDI has become a prominent external source of finance for developing countries.

Keywords: foreign direct investment, globalization, economic development, information technology systems new opportunities

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Authors: T. Miková

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This paper analyzes the effect of a single uniform accounting rule on reporting quality by investigating the influence of IFRS on earnings management. This paper examines whether earnings management is reduced after IFRS adoption through the use of “loss avoidance thresholds”, a method that has been verified in earlier studies. This paper concentrates on two European countries: one that represents the continental code law tradition with weak protection of investors (France) and one that represents the Anglo-American common law tradition, which typically implies a strong enforcement system (the United Kingdom). The research investigates a sample of 526 companies (6822 firm-year observations) during the years 2000 – 2013. The results are different for the two jurisdictions. This study demonstrates that a single set of accounting standards contributes to better reporting quality and reduces the pervasiveness of earnings management in France. In contrast, there is no evidence that a reduction in earnings management followed the implementation of IFRS in the United Kingdom. Due to the fact that IFRS benefit France but not the United Kingdom, other political and economic factors, such legal system or capital market strength, must play a significant role in influencing the comparability and transparency cross-border companies’ financial statements. Overall, the result suggests that IFRS moderately contribute to the accounting quality of reported financial statements and bring benefit for stakeholders, though the role played by other economic factors cannot be discounted.

Keywords: accounting standards, earnings management, international financial reporting standards, loss avoidance, reporting quality

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Authors: Matteo Rossini, Alberto Portioli Staudacher

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The market competition is moving from the single firm to the whole supply chain one because of increasing competition and growing need for operational efficiencies and customer orientation. Supply chain management allows companies to look beyond their organizational boundaries to develop and leverage resources and capabilities of their supply chain partners. This leads to create competitive advantages in the marketplace and because of this SCM has acquired strategic importance. Lean Approach is a management strategy that focuses on reducing every type of waste present in an organization. This approach is becoming more and more popular among supply chain managers. The supply chain application of lean approach is low diffused. It is not well studied which are the impacts of lean approach principles in a supply chain context. In literature there are only few studies simulating the lean approach performance in single products supply chain. This research work studies the impacts of lean principles implementation along a supply chain. To achieve this, a simulation model of a three-echelon multiproduct product supply chain has been built. Kanban system (and several priority policies) and setup time reduction degrees are implemented in the lean-configured supply chain to apply pull and lot-sizing decrease principles respectively. To evaluate the benefits of lean approach, lean supply chain is compared with an EOQ-configured supply chain. The simulation results show that Kanban system and setup-time reduction improve inventory stock level. They also show that logistics efforts are affected to lean implementation degree. The paper concludes describing performances of lean supply chain in different contexts.

Keywords: inventory policy, Kanban, lean supply chain, simulation study, supply chain management, planning

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Authors: Apisit Nawapanpong, Natthapat Boonjerm

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This project aims to analyze and identify the flight plan of low-altitude aviation in Thailand and other countries. The development of UAV technology has led the innovation and revolution in the aviation industry; this includes the development of new modes of passenger or freight transportation, and it has also affected other industries widely. At present, this technology is being developed rapidly and has been tested all over the world to make the most efficient for technology or innovation, and it is likely to grow more extensively. However, no flight plan for low-altitude operation has been published by the government organization; when compared with high-altitude aviation with manned aircraft, various unique factors are different, whether mission, operation, altitude range or airspace restrictions. In the study of the essential components of low-altitude operation measures to be practical and tangible, there were major problems, so the main consideration of this project is to analyze the components of low-altitude operations which are conducted up to the altitudes of 400 ft or 120 meters above ground level referring to the terrain, for example, air traffic management, classification of aircraft, basic necessity and safety, and control area. This research will focus on confirming the theory through qualitative and quantitative research combined with theoretical modeling and regulatory framework and by gaining insights from various positions in aviation industries, including aviation experts, government officials, air traffic controllers, pilots, and airline operators to identify the critical essential components of low-altitude flight operation. This project analyzes by using computer programs for science and statistics research to prove that the result is equivalent to the theory and be beneficial for regulating the flight plan for low-altitude operation by different essential components from this project and can be further developed for future studies and research in aviation industries.

Keywords: low-altitude aviation, UAV technology, flight plan, air traffic management, safety measures

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Authors: Dilang Thouk Tharjiath

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This study seeks to examine determinants of access to finance: the case of micro and small enterprises in bonga town. It identifies the sector as the key to unlocking the economic potentials of the country. For the achievement of the objective of the study simple random and stratified sampling has been used to select 179 respondents, primary and secondary data were used, primary data were collected through face to face interview and preparing questionnaire and secondary data were collected through reviewing firms record and reports, quantitative research approach were used and the data obtained were analyzed using descriptive research design. Access to finance is one of the key obstacles of MSE’s not only when starting the business project but also when operating. Identifying the major determinants of access to finance is therefore quite crucial. Based on descriptive result the financiers specially formal financiers tend to grant credit easily for enterprises which are located near to town, having operators with higher educational level, experienced and with a positive attitudes towards or fulfill their lending procedures, and a firm having collateralized asset, prepare business plan, maintain accounting practice ,large and old enough. Finally the study recommended that As Educational level of entrepreneurs has significant effect on access to credit from bank and the managers or owners education level is low in Bonga town the concerned bodies of both the government and non-governmental institutions in collaboration with Bonga town MSE development office are recommended to create awareness and facilitate the provision of additional training for those with lower educational level.

Keywords: credit, entrepreneur, enterprise, manager

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Authors: Renata Kurpiewska-Korbut

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Making an assumption that the use and sharing of data generated in humanitarian action constitute a core function of humanitarian organizations, the paper analyzes the position of the largest Polish humanitarian non-governmental organizations in the humanitarian data ecosystem in Ukraine and their approach to non-personal and personal data management since February of 2022. Both expert interviews and document analysis of non-profit organizations providing a direct response in the Ukrainian crisis context, i.e., the Polish Humanitarian Action, Caritas, Polish Medical Mission, Polish Red Cross, and the Polish Center for International Aid and the applicability of theoretical perspective of contingency theory – with its central point that the context or specific set of conditions determining the way of behavior and the choice of methods of action – help to examine the significance of data complexity and adaptive approach to data management by relief organizations in the humanitarian supply chain network. The purpose of this study is to determine how the existence of well-established and accurate internal procedures and good practices of using and sharing data (including safeguards for sensitive data) by the surveyed organizations with comparable human and technological capabilities are implemented and adjusted to Ukrainian humanitarian settings and data infrastructure. The study also poses a fundamental question of whether this crisis experience will have a determining effect on their future performance. The obtained finding indicate that Polish humanitarian organizations in Ukraine, which have their own unique code of conduct and effective managerial data practices determined by contingencies, have limited influence on improving the situational awareness of other assistance providers in the data ecosystem despite their attempts to undertake interagency work in the area of data sharing.

Keywords: humanitarian data ecosystem, humanitarian data management, polish NGOs, Ukraine

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Authors: Nandini Mohan, Thiruvengadam R. B.

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Mahatma Gandhi advocated that the true indicator of modern India lay in the development of its villages. This has been proven with the recent outbreak of the Coronavirus pandemic and the surfacing predicament of our urban centers. Developed on the Industrialization model, the current state of the metropolis is of rampant overcrowding, high rates of unemployment, inadequate infrastructure, and resources to cater to the growing population. A majority of each city’s strength composes of the migrant population, demonstrated through the migrant crisis, a direct repercussion of COVID-19. This paper explores the ideology of how rural development can act as a tactic to counter the high rates of rural-urban migration. It establishes the need for a rural push, as India is predominantly an agrarian economy, with a vast disparity between the urban and rural centers due to its urban bias. It seeks to define development in holistic terms. It studies the models of ‘cluster’ as conceptualized by V.K.R.V. Rao, and detailed by Architect Charles Correa in his book, The New Landscape. The paper reexamines the theory of cluster development through existing models proposed by the government of India. Namely, PURA (Provision of Urban Amenities in Rural Areas), DRI (Deendayal Research Institute), and Rurban under Shyama Prasad Mukharjee Rurban Mission. It analyses the models, their strengths, weaknesses, and reasons for their failure and success to derive parameters for the ideation of an archetype model. A model of rural development that talks of the simultaneous development of existing adjacent villages, by the introduction of set unique functions, that may turn into self-sustaining clusters or agglomerations in the future, which could serve as the next step for Indian village development based on the cluster ideology.

Keywords: counter migration, models of rural development, cluster development theory, India

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Authors: Soumiya Bhattacharjee, P. K. Champati Ray, Shovan L. Chattoraj, Mrinmoy Dhara

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The entire Himalayan range is globally renowned for rainfall-induced landslides. The prime focus of the study is to determine rainfall based threshold for initiation of landslides that can be used as an important component of an early warning system for alerting stake holders. This research deals with temporal dimension of slope failures due to extreme rainfall events along the National Highway-58 from Karanprayag to Badrinath in the Garhwal Himalaya, India. Post processed 3-hourly rainfall intensity data and its corresponding duration from daily rainfall data available from Tropical Rainfall Measuring Mission (TRMM) were used as the prime source of rainfall data. Landslide event records from Border Road Organization (BRO) and some ancillary landslide inventory data for 2013 and 2014 have been used to determine Intensity Duration (ID) based rainfall threshold. The derived governing threshold equation, I= 4.738D^-0.025, has been considered for prediction of landslides of the study region. This equation was validated with an accuracy of 70% landslides during August and September 2014. The derived equation was considered for further prediction of landslides of the study region. From the obtained results and validation, it can be inferred that this equation can be used for initiation of landslides in the study area to work as a part of an early warning system. Results can significantly improve with ground based rainfall estimates and better database on landslide records. Thus, the study has demonstrated a very low cost method to get first-hand information on possibility of impending landslide in any region, thereby providing alert and better preparedness for landslide disaster mitigation.

Keywords: landslide, intensity-duration, rainfall threshold, TRMM, slope, inventory, early warning system

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Authors: John Hardy

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The expansion of special operations forces (SOF) in the twenty-first century is often discussed in terms of the size and disposition of SOF units. Research regarding the number SOF personnel, the equipment SOF units procure, and the variety of roles and mission that SOF fulfill in contemporary conflicts paints a fascinating picture of changing expectations for the use of force. A strong indicator of the changing nature of SOF in contemporary conflicts is the fusion of strike and intelligence functions in the SOF in many countries. What were once more distinct roles on the kind of battlefield generally associated with the concept of conventional warfare have become intermingled in the era of persistent conflict which SOF face. This study presents a historical analysis of the co-evolution of the intelligence and direct action functions carried out by SOF in counterterrorism, counterinsurgency, and training and mentoring missions between 2004 and 2016. The study focuses primarily on innovation in the US military and the diffusion of key concepts to US allies first, and then more broadly afterward. The findings show that there were three key phases of evolution throughout the period of study, each coinciding with a process of innovation and doctrinal adaptation. The first phase was characterized by the fusion of intelligence at the tactical and operational levels. The second phase was characterized by the industrial counterterrorism campaigns used by US SOF against irregular enemies in Iraq and Afghanistan. The third phase was characterized by increasing forward collection of actionable intelligence by SOF force elements in the course of direct action raids. The evolution of strike and intelligence functions in SOF operations between 2004 and 2016 was significantly influenced by reciprocity. Intelligence fusion led to more effective targeting, which then increased intelligence collection. Strike and intelligence functions were then enhanced by greater emphasis on intelligence exploitation during operations, which further increased the effectiveness of both strike and intelligence operations.

Keywords: counterinsurgency, counterterrorism, intelligence, irregular warfare, military operations, special operations forces

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Authors: Anat Keller

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Given that macro-prudential supervision is a relatively new policy area and its empirical and analytical research are still in their infancy, its theoretical foundations are also lagging behind. This paper contributes to the developing discussion on effective legal and institutional macroprudential supervision frameworks. In the first part of the paper, it is argued that effectiveness as a key benchmark poses some challenges in the context of macroprudential supervision such as the difficulty in proving causality between supervisory actions and the achievement of the supervisor’s mission. The paper suggests that effectiveness in the macroprudential context should, therefore, be assessed at the supervisory decision-making process (to be differentiated from the supervisory outcomes). The second part of the essay examines whether insights from behavioural economics can point to biases in the macroprudential decision-making process. These biases include, inter alia, preference bias, groupthink bias and inaction bias. It is argued that these biases are exacerbated in the multilateral setting of the macroprudential supervision framework in the EU. The paper then examines how legal and institutional frameworks should be designed to acknowledge and perhaps contain these identified biases. The paper suggests that the effectiveness of macroprudential policy will largely depend on the existence of clear and robust transparency and accountability arrangements. Accountability arrangements can be used as a vehicle for identifying and addressing potential biases in the macro-prudential framework, in particular, inaction bias. Inclusiveness of the public in the supervisory process in the form of transparency and awareness of the logic behind policy decisions may assist in minimising their potential unpopularity thus promoting their effectiveness. Furthermore, a governance structure which facilitates coordination of the macroprudential supervisor with other policymakers and incorporates outside perspectives and opinions could ‘break-down’ groupthink bias as well as inaction bias.

Keywords: behavioural economics and biases, effectiveness of macroprudential supervision, legal and institutional macroprudential frameworks, macroprudential decision-making process

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Authors: Ons Triki, Fathi Abid

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The basic objective of this paper is twofold. It resides in designing a model for a contingent convertible lease contract that can ensure the financial stability of a company and recover the losses of the parties to the lease in the event of default. It also aims to compare the convertible lease contract on inefficiencies resulting from the debt-overhang problem and asset substitution with other financing policies. From this perspective, this paper highlights the interaction between investments and financing policies in a dynamic model with existing assets and a growth option where the investment cost is financed by a contingent convertible lease and equity. We explore the impact of the contingent convertible lease on the capital structure. We also check the reliability and effectiveness of the use of the convertible lease contract as a means of financing. Findings show that the rental convertible contract with a sufficiently high conversion ratio has less severe inefficiencies arising from risk-shifting and debt overhang than those entailed by risky debt and pure-equity financing. The problem of underinvestment pointed out by Mauer and Ott (2000) and the problem of overinvestment mentioned by Hackbarth and Mauer (2012) may be reduced under contingent convertible lease financing. Our findings predict that the firm value under contingent convertible lease financing increases globally with asset volatility instead of decreasing with business risk. The study reveals that convertible leasing contracts can stand for a reliable solution to ensure the lessee and quickly recover the counterparties of the lease upon default.

Keywords: contingent convertible lease, growth option, debt overhang, risk-shifting, capital structure

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Authors: Lissette Alejandra Lara, Mario Gomez, Jose Carlos Rodriguez

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ransnational corporations (TNCs) as units in which it is possible technology and knowledge transfer across borders and the potential for generating innovation and contributing in economic development both in home and host countries have been widely acknowledged in the foreign direct investment (FDI) literature. Particularly, the accelerated expansion of emerging countries TNCs in the last decades has guided an uprising research stream that measure the presence of reverse technology transfer, defined as the extent to which emerging countries’ TNCs use outward FDI in a host country through certain mechanisms to absorb and transfer knowledge thus improving its technological capabilities in the home country. The objective of this paper is to test empirically the presence of reverse technology transfer and its impact on the innovation capabilities in Mexican transnational corporations (MXTNCs) as a part of the emerging countries TNCs that have successfully entered to industrialized markets. Using a panel dataset of 22 MXTNCs over the period 1994-2015, the results of the econometric model demonstrate that the amount of Mexican outward FDI and the research and development (R&D) expenditure in host developed countries had a positive impact on the innovation capabilities at the firm and industry level. There is also evidence that management of acquired brands and the organizational structure of Mexican subsidiaries improved these capabilities. Implications for internationalization strategies of emerging countries corporations and future research guidelines are discussed.

Keywords: emerging countries, foreign direct investment, innovation capabilities, Mexican transnational corporations, reverse technology transfer

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Authors: Gayan Mapitiya

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Maintaining good occupational health and safety (OHS) performance is significant at the coalface, especially in industries such as mining, power, and construction. Coalface workers are vulnerable to high OHS risks such as working at heights, working with mobile plants and vehicles, working with underground and above ground services, chemical emissions, radiation hazards and explosions at everyday work. To improve OHS performance of workers, OHS key performance indicators (KPIs) (for example, lost time injuries (LTI), serious injury frequency rate (SIFR), total reportable injury frequency rate (TRIFR) and number of near misses) are widely used by managers in making OHS business decisions such as investing in safety equipment and training programs. However, in many organizations, workers at the coalface hardly see any relevance or value addition of OHS KPIs to their everyday work. Therefore, the aim of the study was to understand why coalface workers perceive that OHS KPIs are not practically relevant to their jobs. Accordingly, this study was conducted as a qualitative case study focusing on a large electricity and gas firm in Australia. Semi-structured face to face interviews were conducted with selected coalface workers to gather data on their attitude towards OHS KPIs. The findings of the study revealed that workers at the coalface generally have no understanding of the purpose of KPIs, the meaning of each KPI, origin of KPIs, and how KPIs are correlated to organizational performance. Indeed, KPIs are perceived as ‘meaningless obstacles’ imposed on workers by managers without a rationale. It is recommended to engage coalface workers (a fair number of representatives) in both KPIs setting and revising processes while maintaining a continuous dialogue between workers and managers in regards OHS KPIs.

Keywords: KPIs, coalface, OHS risks, case-study

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