Search results for: national financial inclusion strategy

Authors: Seyedmohsen Mortazavi

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The purpose of this research is to investigate the personality types of internal auditors on the quality of financial reporting in companies admitted to the Tehran Stock Exchange. Personality type is one of the issues that emphasizes the field of auditors' behavior, and this field has attracted the attention of shareholders and stock companies today, because the auditors' personality can affect the type of financial reporting and its quality. The research is applied in terms of purpose and descriptive and correlational in terms of method, and a researcher-made questionnaire was used to check the research hypotheses. The statistical population of the research is all the auditors, accountants and financial managers of the companies admitted to the Tehran Stock Exchange, and due to their large number and the uncertainty of their exact number, 384 people have been considered as a statistical sample using Morgan's table. The researcher-made questionnaire was approved by experts in the field, and then its validity and reliability were obtained using software. For the validity of the questionnaire, confirmatory factor analysis was first examined, and then using divergent and convergent validity; Fornell-Larker and cross-sectional load test of the validity of the questionnaire were confirmed; Then, the reliability of the questionnaire was examined using Cronbach's alpha and composite reliability, and the results of these two tests showed the appropriate reliability of the questionnaire. After checking the validity and reliability of the research hypotheses, PLS software was used to check the hypotheses. The results of the research showed that the personalities of internal auditors can affect the quality of financial reporting; The personalities investigated in this research include neuroticism, extroversion, flexibility, agreeableness and conscientiousness, all of these personality types can affect the quality of financial reporting.

Keywords: flexibility, quality of financial reporting, agreeableness, conscientiousness

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Authors: James Beringer

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Switzerland’s ability to forge a strong national identity across linguistic barriers has long been of interest to nationalism scholars. This begs the question of how this has been achieved, given that traditional explanations of luck or exceptionalism appear highly reductionist. This paper evaluates the theory that successful Swiss management of linguistic diversity stems from the strong integration of multilingualism into Swiss national identity. Using archival analysis of Swiss government records, historical accounts of prominent Swiss citizens, as well as secondary literature concerning the fundamental aspects of Swiss national identity, this paper charts the historical evolution of Swiss national identity. It explains how multilingualism was deliberately and successfully integrated into Swiss national identity as a response to political fragmentation along linguistic lines during the First World War. Its primary conclusions are the following. Firstly, the earliest foundations of Swiss national identity were purposefully removed from any association with a single national language. This produced symbols, myths, and values -such as a strong commitment to communalism, the imagery of the Swiss natural landscape, and the use of Latin expressions, which can be adopted across Swiss linguistic groups. Secondly, the First World War triggered a turning point in the evolution of Swiss national identity. The fundamental building blocks proved insufficient in preventing political fractures amongst linguistic lines, as each Swiss linguistic group gravitated towards its linguistic neighbours within Europe. To avoid a repeat of such fragmentation, a deliberate effort was made to fully integrate multilingualism as a fundamental aspect of Swiss national identity. Existing natural symbols, such as the St Gotthard Mountains, were recontextualized in order to become associated with multilingualism. The education system was similarly reformed to reflect the unique multilingual nature of the Swiss nation. The successful result of this process can be readily observed in polls and surveys, with large segments of the Swiss population highlighting multilingualism as a uniquely Swiss characteristic, indicating the symbiotic connection between multilingualism and the Swiss nation.

Keywords: language's role in identity formation, multilingualism in nationalism, national identity formation, Swiss national identity history

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Authors: Udokporo Emeka Leonard

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The thrust of this paper is to examine how entrepreneurship can assist in the attainment of the first goal among the MDGs – eradication of extreme poverty and hunger in Nigeria. The paper discusses how national development can be driven through employment creation and wealth generation that can lead to reduction in widespread poverty so as to attain one crucial target, in fewer years. The task before Nigeria is certainly a herculean one; it is, in fact a race against time. However, in view of the clear and present danger that the increasing rate of poverty portends for our democracy and our nation, is a race we must; for it is a time bomb on our hands. The paper has been structured into sections; with the introduction as section one. Section two discusses the concept of entrepreneurship; Section three examines the link between entrepreneurship and economic development, while section four examines the challenges facing entrepreneurship in Nigeria. In section five, measures and recommendations to boost entrepreneurship that can drive economic development that translates into poverty reduction and employment creation in Nigeria are suggested. This work is a literature review with some understanding of current trends and situations. It outlines some of the difficulties facing entrepreneurship in Nigeria as the operating environment, inadequate understanding and skewed incentive. It also makes recommendations on possible ways to significantly reduce poverty in 2015.

Keywords: development, entrepreneur, Nigeria, poverty

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Authors: Mazwane S., Makhura M. N., Ginege A.

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Digitalization in South Africa has received considerable attention from policymakers. The support for the development of the digital economy by the South African government has been demonstrated through the enactment of various national policies and strategies. This study sought to develop an index for agricultural digitalization by applying composite confirmatory analysis (CCA). Another aim was to determine the factors that affect the development of digitalization in PLAS farms. Data on the indicators of the three dimensions of digitalization were collected from 300 Proactive Land Acquisition Strategy (PLAS) farms in South Africa using semi-structured questionnaires. Confirmatory composite analysis (CCA) was employed to reduce the items into three digitalization dimensions and ultimately to a digitalization index. Standardized digitalization index scores were extracted and fitted to a linear regression model to determine the factors affecting digitalization development. The results revealed that the model shows practical validity and can be used to measure digitalization development as measures of fit (geodesic distance, standardized root mean square residual, and squared Euclidean distance) were all below their respective 95%quantiles of bootstrap discrepancies (HI95 values). Therefore, digitalization is an emergent variable that can be measured using CCA. The average level of digitalization in PLAS farms was 0.2 and varied significantly across provinces. The factors that significantly influence digitalization development in PLAS land reform farms were age, gender, farm type, network type, and cellular data type. This should enable researchers and policymakers to understand the level of digitalization and patterns of development, as well as correctly attribute digitalization development to the contributing factors.

Keywords: agriculture, digitalization, confirmatory composite model, land reform, proactive land acquisition strategy, South Africa

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Authors: Adnan Celik

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Entrepreneurs are people who attempt to do a business and do not hesitate to do so. They are involved in the production of economic goods and services through factors of production. They also find the financial resources necessary for production and the markets where the production will be evaluated. After all, they create economic values. The main function of the entrepreneur in contemporary societies is to realize innovations. From this point, the power of the modern entrepreneur is based on her/his capacity to innovate and transform his innovations into tangible commercial products. In this context, the concept of an entrepreneur is used to mean the person or persons who constantly innovate. Successful entrepreneurs take on the role of the locomotive in the development of their countries. They support economic development with their activities. In addition to production and marketing activities, it also has important contributions to employment. Along with the development of the country, they also try to make the income distribution more balanced. Especially developed country entrepreneurs intensely perform the following functions; “to produce new goods and services or to increase the quality and quality of known goods and services; ability to develop and apply new production methods; establishing new organizations in the industry; reach new markets; to find new sources from which raw materials and similar materials can be obtained”. Entrepreneurs who fully implement business functions are easier to achieve economic efficiency. Thus, they provide great advantages to the business and the national economy. Successful entrepreneurs are people who make money by creating economic values. These revenues are; on the one hand, it is distributed to individuals in the business as wages, premiums, or dividends; It is also used in the growth of companies. Thus, employees, managers, entrepreneurs and the whole country can benefit greatly. In the least developed countries, the guiding effect of traditional value patterns on individuals' attitudes and behaviors varies depending on the socio-economic characteristics of individuals. It is normal for an entrepreneur with a low level of education, who was brought up in a traditional structure, to behave in accordance with traditional value patterns. In fact, this is the primary problem of all countries in the development effort. The solution to this problem will be possible by giving the necessary importance to the social dimension as well as the technical dimension of development. This study mainly focuses on the importance of entrepreneurship for the national economy. This issue has been handled separately in terms of developed and least developed countries. As a result of the study, entrepreneurship suggestions were made, especially to least developed countries, with the goal of national economy and development.

Keywords: entrepreneur, entrepreneurship, national economy, entrepreneurship in developed and least developed countries

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Authors: Andreas D. Jansson

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The availability of inexpensive, yet competent hardware allows for increased level of automation and self-optimization in the context of Industry 4.0. However, such agents require high quality information about their surroundings along with a robust strategy for collision avoidance, as they may cause expensive damage to equipment or other agents otherwise. Manually defining a strategy to cover all possibilities is both time-consuming and counter-productive given the capabilities of modern hardware. This paper explores the idea of a model-free self-optimizing obstacle avoidance strategy for multiple autonomous agents in a simulated dynamic environment using the Q-learning algorithm.

Keywords: autonomous vehicles, industry 4.0, multi-agent system, obstacle avoidance, Q-learning, simulation

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Authors: P. W. Tsai, W. L. Hong, C. W. Chen, C. Y. Chen

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In this paper, we present a neural network (NN) based approach represent a nonlinear Tagagi-Sugeno (T-S) system. A linear differential inclusion (LDI) state-space representation is utilized to deal with the NN models. Taking advantage of the LDI representation, the stability conditions and controller design are derived for a class of nonlinear structural systems. Moreover, the concept of utilizing the Parallel Particle Swarm Optimization (PPSO) algorithm to solve the common P matrix under the stability criteria is given in this paper.

Keywords: Lyapunov stability, parallel particle swarm optimization, linear differential inclusion, artificial intelligence

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Authors: Reza Khani, Ziba Hosseini

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This study was an attempt to investigate the difference between learners of Iranian Kurdish–Persian bilingual language and Persian monolinguals, regarding language strategy use (LLS). The participants of the study were 120 monolingual Persian and 120 bilingual Kurdish studying English as a foreign language (EFL). Data were collected using strategy inventory for language learning SILL. The results show bilingual reported higher use of language learning strategies in all categories of SILL except memory strategies.

Keywords: language learning, memory, monolingual, comparative study

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Authors: Edward Chamisa, Colin C. Smith, Hamutyinei H. Pamburai, Abdul C. Abdulla

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South Africa (SA) adopted International Financial Reporting Standards (IFRS) for listed firms effective 1 January 2005. However, it was not until 2011 that substantial financial reporting enforcement changes were introduced, which were meant to ensure compliance with IFRS. This innovative setting allows us to examine the value relevance of accounting amounts during the (1) pre-IFRS adoption period (2002-2004); (2) post-IFRS adoption, but pre-enforcement changes period (2006-2010); and (3) post-enforcement changes period (2011-2012). The results show that accounting amounts were most value relevant in the post-enforcement changes period (R2, 75.5%) compared to both the pre-IFRS adoption period (adjusted R2 is 24.3%) and the period after IFRS adoption but before enforcement changes (adjusted R2 is 37.5%). Also, during the 2008 financial crisis, the equity book value per share was significantly value relevant (at 1%) but not earnings per share, whereas before the crisis, the opposite was true. We make two important contributions to the literature. First, we identify SA as an innovative setting that allows researchers to examine separately the effects of IFRS adoption and enforcement changes on capital markets and accounting quality. This is a departure from prior studies that are dominated by the European Union setting, where IFRS adoption occurred contemporaneously with enforcement and other regulatory changes. Second, we provide preliminary findings which suggest that while the adoption of IFRS seems to have improved the financial reporting quality of accounting amounts of SA listed firms, its impact appears to be limited unless combined with effective enforcement.

Keywords: international financial reporting standards (ifrs), ifrs adoption, financial reporting enforcement, value relevance, price model, equity book value, earnings per share

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Authors: M. Mokrzecka, A. Aly, A. K. Obwona, Piotrowska M., Richardson S.

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Frankfurt am Main, the fifth largest city in Germany, ranked 15th by the Global Financial Centers Index in 2014, and a finalist of European Green Capital 2014, is a crucial player in German Environmental Policy. In 2012 the city authorities agreed a target to reduce the city’s energy consumption by 50%, and fully switch to renewable energy by the year 2050. To achieve this goal, the Municipality of Frankfurt has begun preparing the Master plan, which will be introduced to public by the end of 2015. Transitions theory tells, that to address challenges as complex as Climate Change and the Energiewende, the development of new technologies and systems is not sufficient. Transition by definition is a process, and in such a large scale (city and region transition) can be fulfilled only, when operates within a broad socio – technical system. Thus, the Authors believe that only by close cooperation with citizens, as well as different stakeholders, can the Transition in Frankfurt be successful. The city therefore needs a strategy which will ensure the engagement, sense of ownership and broad support within Frankfurt society for the aims of the Master plan. This paper presents a proposal for how the city can achieve this based therefore, on fostering the citizens’ engagement through a comprehensive, innovative communication strategy. The proposal was originally developed by the authors as a winning submission for the Climate-KIC Transitions PhD Summer School 2014..

Keywords: city development, communication strategies, social transition, sustainability

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Authors: Nourah Almulhim

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This paper takes a critical discourse analysis (CDA) approach to investigate discourse and ideology in political blogs, focusing in particular on the Conservative Home blog from the UK’s current governing party. The Conservative party member’s discourse strategies as the blogger, alongside the discourse used by members of the public who reply to the blog in the below-the-lines comments, will be examined. The blog discourse reflects the writer's political identity and authorial voice. The analysis of the below-the-lines comments enables members of the public to engage in creating adversative positions, introducing different language users who bring their own individual and collective identities. These language users can play the role of news reporters, political analysts, protesters or supporters of a specific agenda and current socio-political topics or events. This study takes a qualitative approach to analyze the discriminatory context towards Islam/Muslims in ' The Conservative Home' blog. A cognitive approach is adopted and an analysis of dominant discourses in the blog text and the below-the-line comments is used. The focus of the study is, firstly, on the construction of self/ collective national identity in comparison to Muslim identity, highlighting the in-group and out-group construction. Second, the type of attitudes, whether feelings or judgments, related to these social actors as they are explicated to draw on the social values. Third, the role of discursive strategies in justifying and legitimizing those Islamophobic discriminatory practices. Therefore, the analysis is based on the systematic analysis of social actors drawing on actors, actions, and arguments to explicate identity construction and its development in the different discourses. A socio-semantic categorization of social actors is implemented to draw on the discursive strategies in addition to using literature to understand these strategies. An appraisal analysis is further used to classify attitudes and elaborate on core values in both genres. Finally, the grammar of othering is applied to explain how discriminatory dichotomies of 'Us' Vs. ''Them' actions are carried in discourse. Some of the key findings of the analysis can be summarized in two main points. First, the discursive practice used to represent Muslims/Islam as different from ‘Us’ are different in both genres as the blogger uses a covert voice while the commenters generally use an overt voice. This is to say that the blogger uses a mitigated strategy to represent the Muslim identity, for example, using the noun phrase ‘British Muslim’ but then representing them as ‘radical’ and ‘terrorists'. Contrary to this is in below the lines comments, where a direct strategy with an active declarative voice is used to negatively represent the Muslim identity as ‘oppressors’ and ‘terrorists’ with no inclusion of the noun phrase ‘British Muslims’. Second, the negotiation of the ‘British’ identity and values, such as culture and democracy, are prominent in the comment section as being unique and under threat by Muslims, while in the article, these standpoints are not represented.

Keywords: xenophobia, blogs, identity, critical discourse analysis

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Authors: Simon Strande Henriksen

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When a city and country decide to undertake an Olympic Games, they do so with the notion that hosting the Olympics will provide direct financial benefits to the city, country, and national companies. Like many activities, the Olympic Games tend to be more popular when it is warm, and the athletes are known, and therefore this paper will only focus on the two latest Olympic Summer Games. Cities and countries continue to invest billions of dollars in infrastructure to secure the role of being Olympic hosts. The multiple investments expect to provide both economic growth and a lasting legacy for the citizens. This study aims to determine whether host country companies experience superior economic impact from the Olympics. Building on existing work within the Olympic field of research, it asks: Do companies in host countries of the Olympic Summer Games experience a superior increase in operating revenue and return on assets compared to other comparable countries? In this context, comparable countries are the two candidates following the host city in the bidding procedure. Based on methods used by scholars, a panel data regression was conducted on revenue growth rate and return on assets, to determine if host country companies see a positive relation with hosting the Olympic Games. Combined with an analysis of motivation behind hosting the Olympics, the regression showed no significant positive relations across all analyses, besides in one instance. Indications of a relationship between company performance and economic motivation were found to be present. With the results indicating a limited effect on company growth, it is recommended that prospective host cities and countries carefully consider possible implications the role of being an Olympic host might have on national companies.

Keywords: cross-country analysis, mega-event, multiple regression, quantitative analysis

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Authors: Ashenafi Beyene Fanta, Daniel Makina

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Economic theory predicts that finance promotes economic growth. Although the finance-growth link is among the most researched areas in financial economics, our understanding of the link between the two is still incomplete. This is caused by, among others, wrong econometric specifications, using weak proxies of financial development, and inability to address the endogeneity problem. Studies on the finance growth link in South Africa consistently report economic growth driving financial development. Early studies found that economic growth drives financial development in South Africa, and recent studies have confirmed this using different econometric models. However, the monetary aggregate (i.e. M2) utilized used in these studies is considered a weak proxy for financial development. Furthermore, the fact that the models employed do not address the endogeneity problem in the finance-growth link casts doubt on the validity of the conclusions. For this reason, the current study examines the finance growth link in South Africa using data for the period 1990 to 2011 by employing a generalized method of moments (GMM) technique that is capable of addressing endogeneity, simultaneity and omitted variable bias problems. Unlike previous cross country and country case studies that have also used the same technique, our contribution is that we account for the development of bond markets and non-bank financial institutions rather than being limited to stock market and banking sector development. We find that bond market development affects economic growth in South Africa, and no similar effect is observed for the bank and non-bank financial intermediaries and the stock market. Our findings show that examination of individual elements of the financial system is important in understanding the unique effect of each on growth. The observation that bond markets rather than private credit and stock market development promotes economic growth in South Africa induces an intriguing question as to what unique roles bond markets play that the intermediaries and equity markets are unable to play. Crucially, our results support observations in the literature that using appropriate measures of financial development is critical for policy advice. They also support the suggestion that individual elements of the financial system need to be studied separately to consider their unique roles in advancing economic growth. We believe that our understanding of the channels through which bond market contribute to growth would be a fertile ground for future research.

Keywords: bond market, finance, financial sector, growth

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Authors: Saad Saeed Althiabi

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This paper discusses the corporate positioning and how it became popular as a way to systematize production because of the unique manner in which incorporation legalized organizers to secure financial capital through locking it in. The power to lock in capital comes from the fact that a corporate exists as a separate legal entity, whose survival and governance are separated from any of its participants. The law essentially creates a different legal person when a corporation is created. Although this idea has been played down in the legal learning of the last decades in favor of the view that a corporation is purely something through which natural persons interrelate, recent legal research has begun to reassess the importance of entity status. Entity status, under the law and the related separation of governance from input of financial capital through the configuration of a corporation, sanctioned corporate participants to do somewhat more than connect in a series of business transactions.

Keywords: corporate law, entity status, locking in capital, financial capital

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Authors: Mauly Budiyanti, Aisyah M. Anggiana

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Terrorism is a threat to national security since the war on terror era after the tragedy of 9/11. The shifting of national threat from military to non-military centric leads us to recognize that military action is not the only way to face and solve terrorism. Alongside the use of military action to counter terrorism, Indonesia has another way to counter it by using the role of social media. The role of social media on spreading positivity to counter terrorism has the power to show that people now are fearless toward terrorist attack because their goal is to make sure that people are threatened enough by the way they act. This is showing the emergence of the non-state actor has a big impact on national security, as well as pluralism, said about the involving of non-state actor on international events. In this paper, we will examine the role of social media in countering terrorism based on study case in Indonesia.

Keywords: Indonesia, national security, social media, terrorism.

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Authors: Mostafa Jafari

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Religious tourism is the core strategy of shaping Iranian's life-style. Why and How? This paper answers to this question. Theoretical base: From strategic marketing point of view, Life style is pattern of believes values, interests and acts. Strategy can be defined as a set of continuous important decisions. Here, strategy is making decisions about the target place and vehicle of touristic travel due to reform and redefine the self-identity and shaping life style. Methodology: Target society of this research is the selected residents of three provinces at northwest of Iran. The data collection instrument is interview and questionnaire and the collected data analysis by SEM (structural Equation Modeling) and LISREL software. Results: The primary results show that variety of touristic travels play an important role on shaping new life style of Iranian people. The target places of touristic travel (Europe, USA. Japan and etc.) are at the second priority. The number of foreign friends is at the third position. The fourth criteria are the number of travels. Among all kind of touristic travels the religious tourism from competitive point of view plays the main role. Findings: The geometry of Iranian life style are shaping and reshaping through some domestic and international tourism strategies particular religious strategy. During the dynamic trend of identity redefine, so many Iranians put the quantity and quality of their touristic travel on the first priority.

Keywords: religious tourism, core strategy, shaping life style

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Authors: Josip Visković, Josip Arnerić, Ante Rozga

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Based on the fact that volatility is time varying in high frequency data and that periods of high volatility tend to cluster, the most successful and popular models in modelling time varying volatility are GARCH type models. When financial returns exhibit sudden jumps that are due to structural breaks, standard GARCH models show high volatility persistence, i.e. integrated behaviour of the conditional variance. In such situations models in which the parameters are allowed to change over time are more appropriate. This paper compares different GARCH models in terms of their ability to describe structural changes in returns caused by financial crisis at stock markets of six selected central and east European countries. The empirical analysis demonstrates that Markov regime switching GARCH model resolves the problem of excessive persistence and outperforms uni-regime GARCH models in forecasting volatility when sudden switching occurs in response to financial crisis.

Keywords: central and east European countries, financial crisis, Markov switching GARCH model, transition probabilities

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Authors: Soheil Heydari, Ailar Hajimohammadi, Nasser Khalili

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The application of plastic waste for asphalt modification is a sustainable strategy to deal with the enormous plastic waste generated each year and enhance the properties of asphalt. The modification is either practiced by the dry process or the wet process. In the dry process, plastics are added straight into the asphalt mixture, and in the wet process, they are mixed and digested into bitumen. In this article, the effects of plastic inclusion in asphalt mixture, through the dry process, on the permanent deformation of the asphalt are investigated. The main waste plastics that are usually used in asphalt modification are taken into account, which is linear, low-density polyethylene, low-density polyethylene, high-density polyethylene, and polypropylene. Also, to simulate a plastic waste stream, different grades of each virgin plastic are mixed and used. For instance, four different grades of polypropylene are mixed and used as representative of polypropylene. A precisely designed mixing condition is considered to dry-mix the plastics into the mixture such that the polymer was melted and modified by the later introduced binder. In this mixing process, plastics are first added to the hot aggregates and mixed three times in different time intervals, then bitumen is introduced, and the whole mixture is mixed three times in fifteen minutes intervals. Marshall specimens were manufactured, and dynamic creep tests were conducted to evaluate the effects of modification on the permanent deformation of the asphalt mixture. Dynamic creep is a common repeated loading test conducted at different stress levels and temperatures. Loading cycles are applied to the AC specimen until failure occurs; with the amount of deformation constantly recorded, the cumulative, permanent strain is determined and reported as a function of the number of cycles. The results of this study showed that the dry inclusion of the waste plastics is very effective in enhancing the resistance against permanent deformation of the mixture. However, the mixing process must be precisely engineered to melt the plastics, and a homogenous mixture is achieved.

Keywords: permanent deformation, waste plastics, low-density polyethene, high-density polyethene, polypropylene, linear low-density polyethene, dry process

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Authors: Omar Farahat Hassanein, A. Samer Ezeldin

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The construction industry is a very dynamic field. Every day new technologies and methods are developing to fasten the process and increase its efficiency. Hence, if a project uses fewer resources, it will be more efficient. This paper examines the recycling of concrete construction and demolition (C&D) waste to reuse it as aggregates in on-site applications for construction projects in Egypt and possibly in the Middle East. The study focuses on a stationary plant setting. The machinery set-up used in the plant is analyzed technically and financially. The findings are gathered and grouped to obtain a comprehensive cost-benefit financial model to demonstrate the feasibility of establishing and operating a concrete recycling plant. Furthermore, a detailed business plan including the time and hierarchy is proposed.

Keywords: construction wastes, recycling, sustainability, financial model, concrete recycling, concrete life cycle

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Authors: Muhammad Tahir, Mushtaq Muhammad

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Capital structure is one of the key decisions taken by the financial managers. This study aims to investigate the factors influencing capital structure decision in Oil and Gas industry of Pakistan using secondary data from published annual reports of listed Oil and Gas Companies of Pakistan. This study covers the time-period from 2008-2014. Capital structure can be affected by profitability, firm size, growth opportunities, dividend payout, liquidity, business risk, and ownership structure. Panel data technique with Ordinary least square (OLS) regression model has been used to find the impact of set of explanatory variables on the capital structure using the Stata. OLS regression results suggest that dividend payout, firm size and government ownership have the most significant impact on financial leverage. Dividend payout and government ownership are found to have significant negative association with financial leverage however firm size indicated positive relationship with financial leverage. Other variables having significant link with financial leverage includes growth opportunities, liquidity and business risk. Results reveal significant positive association between growth opportunities and financial leverage whereas liquidity and business risk are negatively correlated with financial leverage. Profitability and managerial ownership exhibited insignificant relationship with financial leverage. This study contributes to existing Managerial Finance literature with certain managerial implications. Academically, this research study describes the factors affecting capital structure decision of Oil and Gas Companies in Pakistan and adds latest empirical evidence to existing financial literature in Pakistan. Researchers have studies capital structure in Pakistan in general and industry at specific, nevertheless still there is limited literature on this issue. This study will be an attempt to fill this gap in the academic literature. This study has practical implication on both firm level and individual investor/ lenders level. Results of this study can be useful for investors/ lenders in making investment and lending decisions. Further, results of this study can be useful for financial managers to frame optimal capital structure keeping in consideration the factors that can affect capital structure decision as revealed by this study. These results will help financial managers to decide whether to issue stock or issue debt for future investment projects.

Keywords: capital structure, multicollinearity, ordinary least square (OLS), panel data

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Authors: Ezgi Tozak, H. Pelin Karasu, Umit Girgin

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In this study, difficulties encountered in the process of supporting the reading skills of a student with hearing loss whose inclusion was ongoing and the solutions improved during the practice process were examined. The study design was action research. Participants of this study, which was conducted between the dates of 29 September 2016 and 22 February 2017, consisted of a student with hearing loss, a classroom teacher, a teacher in the rehabilitation center, researcher/teacher and validity committee members. The data were obtained through observations, validity committee meeting, interviews, documents, and the researcher diary. Research findings show that in the process of supporting reading skills of the student with hearing loss, the student's knowledge of concepts was limited, and the student had difficulties in feeling and identification of sounds, reading and understanding words-sentences and retelling what he/she listened to. With the purpose of overcoming these difficulties in the implementation process, activities were prepared towards concepts, sound education, reading and understanding words and sentences, and retelling what you listen to; these activities were supported with visual materials and real objects and repeated with diversities.

Keywords: inclusion, reading process, supportive education, student with hearing loss

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Authors: Stephen Gerome

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This study examines the translation and use of metaphors in the realm of public safety discourse and intends to shed light on a continuing problem in cross-cultural communication. Metaphors can cause problems not only within languages but also in interlingual communication. The use and misuse of metaphors may hinder the ability to adequately communicate prevention efforts and, in some cases, facilitate and allow financial crime to go undetected. The use of lexicalized metaphors in communications by political entities, journalists, and legal agents in communications regarding law, policy making, compliance monitoring and enforcement as well as in adjudication can have negative consequences if misconstrued. This study provides examples of metaphor usage in published documents in a corpus linguistic study that compares the use of lexicalized metaphors in this discourse to shed light on possible unexpected consequences as well as counterproductive ones.

Keywords: translation, legal, corpus linguistics, financial

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Authors: Sabur Mollah, Asma Mobarek

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This study aims to explore the endogenous relationship between Shari’ah governance and board governance for Islamic banks to identify complementary or substituting relationship between these governance parameters. By using a sample of 161 Islamic Banks from 24 countries for the period of 2005-2013, we show an endogenous relationship between Shari’ah Supervisory Board (SSB) and Board of Directors (BoD). In this relationship, SSB and BoD complement each other. We also show that this complementary relationship between SSB and BoD helps enhance both management and asset quality, but mitigates capital adequacy, earnings, and liquidity in Islamic banks. The study has important implications for financial stability in the Islamic banking system.

Keywords: Shari’ah Supervisory Board, Boards of Directors, Islamic banking, financial stability

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Authors: Mohamed Aniss El-Gamal

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For decades, the Global South has been facing many challenges in the fields of heritage conservation and local development. These challenges continue to increase due to rapid urbanization in historical cities, thus resulting in complicated juxtaposed contexts of heritage resources and deteriorated dwellings, where slum areas are dotted with heritage structures. While the majority of cases show the incapacity of national and local governments to deal with such contexts, few others managed to demonstrate how different levels of government can play complementary roles in the cooperation with local and international institutions as well as involving local community to achieve an integrated strategy and overcome the challenge. This paper discusses heritage conservation and local development strategies in reference to a number of case studies in cities of the Global south, i.e. Porto Alegre, Agra, Cairo and Mumbai. It further investigates main key aspects of success and failure through cross case studies analysis (Matrix). This study could help create a delineation of an integrated strategy for undertaking future interventions in similar contexts. Integrated strategies are needed to overcome the gap between heritage conservation and local development, maintaining the value of heritage structures and ensuring the quality of life for communities residing in its surroundings.

Keywords: heritage conservation, local development, the global south, regional development

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Authors: Ogunlesi Olufunso, John Ogunsola, Omolade Oladele, Benjamin Emikpe

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Context: Coccidiosis is a parasitic disease that affects poultry production, leading to economic losses. Garlic is known for medicinal properties and has been used as a natural remedy for various diseases. This study aims to investigate the prophylactic effect of garlic inclusion in the feed of commercial broilers with coccidiosis. Research Aim: The aim of this study is to determine the possible effect of garlic meal inclusion in poultry feed on the body weight gain of commercial broilers and to investigate it's therapeutic effect on broilers with coccidiosis. Methodology: The study conducted a case-control study for eight weeks with One hundred Arbor acre commercial broilers separated into five (5) groups from day-old, where 6,000 Eimeria oocysts were orally inoculated into each broiler in the different groups. Feed intake, body weight gain, feed conversion ratio, oocyt shedding rate, histopathology and erythrocyte indices were assessed. Findings: The inclusion of garlic meal in the broilers' diet resulted in an improved feed conversion ratio, decreased oocyst counts, reduced diarrhoeic fecal spots, decreased susceptibility to coccidial infection, and increased packed cell volume (PCV). Theoretical Importance: This study contributes to the understanding of the prophylactic effect of garlic supplementation, including its antiparasitic properties on commercial broilers with coccidiosis. It highlights the potential use of non-conventional feed additives or ayurvedic herb and spices in the treatment of poultry diseases. Data Collection and Analysis Procedures: The study collected data on feed intake, body weight gain, oocyst shedding rate, histopathological observations, and erythrocyte indices. Data were analyzed using Analysis of Variance and Duncan's Multiple range Test. Questions Addressed: The study addressed the possible effect of garlic meal inclusion in poultry feed on the body weight gain of broilers and its therapeutic effect on broilers with coccidiosis. Conclusion: The study concludes that garlic inclusion in the feed of broilers has a prophylactic effect, including antiparasitic properties, resulting in improved feed conversion ratio, reduced oocyst counts and increased PCV.

Keywords: broilers, eimeria spp, garlic, Ibadan

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Authors: Hadi Mousavi, Majid Davoudi Nasr

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Executives can maximize profits by recognizing the factors that affect investment and using them to obtain the optimal level of investment. Inefficient markets have shortcomings that can impact the optimal level of investment, leading to the process of over-investment or under-investment. In the present study, the relationship between the overconfidence of senior managers and abnormal cash fluctuations with respect to financial flexibility in companies listed in the Tehran stock exchange from 2009 to 2013 were evaluated. In this study, the sample consists of 84 companies selected by a systematic elimination method and 420 year-companies in total. In this research, EVIEWS software was used to test the research hypotheses by linear regression and correlation coefficient and after designing and testing the research hypothesis. After designing and testing research hypotheses that have been used to each hypothesis, it was concluded that there was a significant relationship between the overconfidence of senior managers and abnormal cash fluctuations, and this relationship was not significant at any level of financial flexibility. Moreover, the findings of the research showed that there was a significant relationship between senior manager’s overconfidence and positive abnormal cash flow fluctuations in firms, and this relationship is significant only at the level of companies with high financial flexibility. Finally, the results indicate that there is no significant relationship between senior managers 'overconfidence and negative cash flow abnormalities, and the relationship between senior managers' overconfidence and negative cash flow fluctuations at the level of companies with high financial flexibility was confirmed.

Keywords: abnormal cash fluctuations, overconfidence of senior managers, financial flexibility, accounting

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Authors: Abena Abokoma Asemanyi

Abstract:

The study examined how the National Disasters are framed in the print media: a study of Daily Graphic newspaper in Ghana. The communication theories employed to conduct this study was Agenda Setting Theory by McCombs and Shaw and the Framing theory by Goffman and Entman. The media’s coverage of National Disasters are of much concern to the general public. This research seeks to know how the Daily Graphic framed National Disasters that occurred in January 2015 and June 2015 respectively. The January 2015 National Disasters was termed as Fire Outbreaks while the June 2015 National Disasters was Twin Disasters. A total of 43 disaster news stories were analysed for this study. Out of the total number, 9 headline stories were analysed in the month of January 2015 and 34 headline stories were looked at in the month of June 2015. The study came up with five (5) themes. Through Content Analysis, the study also revealed that the theme of Action featured more than the other themes which are Fear, Violence, Sympathy and Confusion. Finally, the study showed the number of days disaster news headlines lasted in the Daily Graphic during the period stated above. It was revealed that the Fire Outbreaks in January 2015 appeared in the Daily Graphic for 8 days while the Twin Disasters appeared in 16 days in June 2015.

Keywords: national disaster framing, ghana, daily graphic, daily guide

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Authors: Majid Alizadeh, Sina Nematizadeh, Hassan Esmailpour

Abstract:

The mutual effects of hospitality and the environment are undeniable, so that the tourism industry has major harmful effects on the environment. Hotels, as one of the most important pillars of the hospitality industry, have significant effects on the environment. Green marketing is a promising strategy in response to the growing concerns about the environment. A green hotel marketing model was proposed using a grounded theory approach in the hotel industry. The study was carried out as a mixed method study. Data gathering in the qualitative phase was done through literature review and In-depth, semi-structured interviews with 10 experts in green marketing using snowball technique. Following primary analysis, open, axial, and selective coding was done on the data, which yielded 69 concepts, 18 categories and six dimensions. Green hotel (green product) was adopted as the core phenomenon. In the quantitative phase, data were gleaned using 384 questionnaires filled-out by hotel guests and descriptive statistics and Structural equation modeling (SEM) were used for data analysis. The results indicated that the mediating role of behavioral response between the ecological literacy, trust, marketing mix and performance was significant. The green marketing mix, as a strategy, had a significant and positive effect on guests’ behavioral response, corporate green image, and financial and environmental performance of hotels.

Keywords: green marketing, sustainable development, hospitality, grounded theory, structural equations model

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Authors: Marc Solé, Francesc Giné, Magda Valls, Nina Bijedic

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What people say on social media has turned into a rich source of information to understand social behavior. Specifically, the growing use of Twitter social media for political communication has arisen high opportunities to know the opinion of large numbers of politically active individuals in real time and predict the global political tendencies of a specific country. It has led to an increasing body of research on this topic. The majority of these studies have been focused on polarized political contexts characterized by only two alternatives. Unlike them, this paper tackles the challenge of forecasting Spanish political trends, characterized by multiple political parties, by means of analyzing the Twitters Users political tendency. According to this, a new strategy, named Tweets Analysis Strategy (TAS), is proposed. This is based on analyzing the users tweets by means of discovering its sentiment (positive, negative or neutral) and classifying them according to the political party they support. From this individual political tendency, the global political prediction for each political party is calculated. In order to do this, two different strategies for analyzing the sentiment analysis are proposed: one is based on Positive and Negative words Matching (PNM) and the second one is based on a Neural Networks Strategy (NNS). The complete TAS strategy has been performed in a Big-Data environment. The experimental results presented in this paper reveal that NNS strategy performs much better than PNM strategy to analyze the tweet sentiment. In addition, this research analyzes the viability of the TAS strategy to obtain the global trend in a political context make up by multiple parties with an error lower than 23%.

Keywords: political tendency, prediction, sentiment analysis, Twitter

Procedia PDF Downloads 227

Authors: J. Daniel Sanchez Ruiz

Abstract:

The paper explains why and how a research criterion was included within an accreditation system for undergraduate engineering programs, in spite of not being a common practice of accreditation agencies at a global level. This paper is divided into three parts. The first presents the context and the motivations that led the Institute for Quality and Accreditation of Computing, Engineering and Technology Programs (ICACIT) to add a research criterion. The second describes the criterion adopted and the feedback received during 2017 accreditation cycle. The third, the author proposes changes to the accreditation criteria that respond in a pertinent way to the results-based accreditation model and the national context. The author seeks to reconcile an outcome based accreditation model, aligned with the established by the International Engineering Alliance, with the particular context of higher education in Peru.

Keywords: accreditation, engineering education, quality assurance, research

Procedia PDF Downloads 276