Search results for: robust decision support
Commenced in January 2007
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Search results for: robust decision support

Investigating 'Criticality' in Written Assignments of Postgraduate Students in TESOL and Applied Linguistics

Authors: Josephine Mirador

Abstract:

Too often, one hears teachers complaining about how uncritical students can be, yet the notion of ‘criticality’ may be subject to variable understandings or interpretations. One challenge facing postgraduate students is the writing of essays responding to a specific reading assignment. Such an essay requires students not only to summarise, but to engage in a discussion of the significant points of the article, pointing out its strengths as well as its weaknesses. This paper presents the results of an investigation on criticality in written assignments of postgraduate students in applied linguistics and TESOL. The guiding questions for this investigation were: -How ‘critical’ are postgraduate students when writing their assignments? -What kind of ‘critical’ comments are they able to offer? A total of 70 essays were analysed, using two sets of corpora in the initial and follow-through phases of the research from three different universities in Asia. The essays were written by MA applied linguistics and TESOL students. Students were told that the response essay should definitely not just summarise, but should offer a reflection or critique on the ideas presented in the subject article. The initial findings from the investigation include: the identification of at least 10 general ‘moves’ each of which has a number of possible specific categories; presence of critique ‘nodes’ as distinguished from ‘support’ comments; and the identification of at least 4 moves as the most recurrent and possibly obligatory categories. This investigation has unearthed a few more questions or issues that are definitely worth investigating as extensions of this research, and will be of interest (most especially) to genre analysts and teachers of writing.

Keywords: criticality, discourse and genre analysis, postgraduate students, applied linguistics

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Digital Holographic Interferometric Microscopy for the Testing of Micro-Optics

Authors: Varun Kumar, Chandra Shakher

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Micro-optical components such as microlenses and microlens array have numerous engineering and industrial applications for collimation of laser diodes, imaging devices for sensor system (CCD/CMOS, document copier machines etc.), for making beam homogeneous for high power lasers, a critical component in Shack-Hartmann sensor, fiber optic coupling and optical switching in communication technology. Also micro-optical components have become an alternative for applications where miniaturization, reduction of alignment and packaging cost are necessary. The compliance with high-quality standards in the manufacturing of micro-optical components is a precondition to be compatible on worldwide markets. Therefore, high demands are put on quality assurance. For quality assurance of these lenses, an economical measurement technique is needed. For cost and time reason, technique should be fast, simple (for production reason), and robust with high resolution. The technique should provide non contact, non-invasive and full field information about the shape of micro- optical component under test. The interferometric techniques are noncontact type and non invasive and provide full field information about the shape of the optical components. The conventional interferometric technique such as holographic interferometry or Mach-Zehnder interferometry is available for characterization of micro-lenses. However, these techniques need more experimental efforts and are also time consuming. Digital holography (DH) overcomes the above described problems. Digital holographic microscopy (DHM) allows one to extract both the amplitude and phase information of a wavefront transmitted through the transparent object (microlens or microlens array) from a single recorded digital hologram by using numerical methods. Also one can reconstruct the complex object wavefront at different depths due to numerical reconstruction. Digital holography provides axial resolution in nanometer range while lateral resolution is limited by diffraction and the size of the sensor. In this paper, Mach-Zehnder based digital holographic interferometric microscope (DHIM) system is used for the testing of transparent microlenses. The advantage of using the DHIM is that the distortions due to aberrations in the optical system are avoided by the interferometric comparison of reconstructed phase with and without the object (microlens array). In the experiment, first a digital hologram is recorded in the absence of sample (microlens array) as a reference hologram. Second hologram is recorded in the presence of microlens array. The presence of transparent microlens array will induce a phase change in the transmitted laser light. Complex amplitude of object wavefront in presence and absence of microlens array is reconstructed by using Fresnel reconstruction method. From the reconstructed complex amplitude, one can evaluate the phase of object wave in presence and absence of microlens array. Phase difference between the two states of object wave will provide the information about the optical path length change due to the shape of the microlens. By the knowledge of the value of the refractive index of microlens array material and air, the surface profile of microlens array is evaluated. The Sag of microlens and radius of curvature of microlens are evaluated and reported. The sag of microlens agrees well within the experimental limit as provided in the specification by the manufacturer.

Keywords: micro-optics, microlens array, phase map, digital holographic interferometric microscopy

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Information Technology Approaches to Literature Text Analysis

Authors: Ayse Tarhan, Mustafa Ilkan, Mohammad Karimzadeh

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Science was considered as part of philosophy in ancient Greece. By the nineteenth century, it was understood that philosophy was very inclusive and that social and human sciences such as literature, history, and psychology should be separated and perceived as an autonomous branch of science. The computer was also first seen as a tool of mathematical science. Over time, computer science has grown by encompassing every area in which technology exists, and its growth compelled the division of computer science into different disciplines, just as philosophy had been divided into different branches of science. Now there is almost no branch of science in which computers are not used. One of the newer autonomous disciplines of computer science is digital humanities, and one of the areas of digital humanities is literature. The material of literature is words, and thanks to the software tools created using computer programming languages, data that a literature researcher would need months to complete, can be achieved quickly and objectively. In this article, three different tools that literary researchers can use in their work will be introduced. These studies were created with the computer programming languages Python and R and brought to the world of literature. The purpose of introducing the aforementioned studies is to set an example for the development of special tools or programs on Ottoman language and literature in the future and to support such initiatives. The first example to be introduced is the Stylometry tool developed with the R language. The other is The Metrical Tool, which is used to measure data in poems and was developed with Python. The latest literature analysis tool in this article is Voyant Tools, which is a multifunctional and easy-to-use tool.

Keywords: DH, literature, information technologies, stylometry, the metrical tool, voyant tools

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Panel Application for Determining Impact of Real Exchange Rate and Security on Tourism Revenues: Countries with Middle and High Level Tourism Income

Authors: M. Koray Cetin, Mehmet Mert

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The purpose of the study is to examine impacts on tourism revenues of the exchange rate and country overall security level. There are numerous studies that examine the bidirectional relation between macroeconomic factors and tourism revenues and tourism demand. Most of the studies support the existence of impact of tourism revenues on growth rate but not vice versa. Few studies examine the impact of factors like real exchange rate or purchasing power parity on the tourism revenues. In this context, firstly impact of real exchange rate on tourism revenues examination is aimed. Because exchange rate is one of the main determinants of international tourism services price in guests currency unit. Another determinant of tourism demand for a country is country’s overall security level. This issue can be handled in the context of the relationship between tourism revenues and overall security including turmoil, terrorism, border problem, political violence. In this study, factors are handled for several countries which have tourism revenues on a certain level. With this structure, it is a panel data, and it is evaluated with panel data analysis techniques. Panel data have at least two dimensions, and one of them is time dimensions. The panel data analysis techniques are applied to data gathered from Worldbank data web page. In this study, it is expected to find impacts of real exchange rate and security factors on tourism revenues for the countries that have noteworthy tourism revenues.

Keywords: exchange rate, panel data analysis, security, tourism revenues

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[Keynote Talk]: Mental Health Challenges among Women in Dubai, Mental Health Needs Assessment for Dubai (2015), Public Health and Safety Department - Dubai Health Authority (DHA)

Authors: Kadhim Alabady

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Purpose: Mental health problems affect women and men equally, but some are more common among women. To Provide a baseline of the current picture of major mental health challenges among women in Dubai. which can then be used to measure the impact of interventions or service development. Method: We have used mixed methods evaluation approaches. This was used to increase the validity of findings by using a variety of data collection techniques. We have integrated qualitative and quantitative methods in this piece of work. Conducting the two approaches is to explore issues that might not be highlighted enough through one method. Results: The key findings are: The prevalence of people who suffer from different types of mental disorders remains largely unknown, many women are unwilling to seek professional help because of lack of awareness or the stigma attached to it. -It is estimated there were around 2,928–4,392 mothers in Dubai (2014) suffering from postnatal depression of which 858–1,287, early intervention can be effective. -The system for managing health care for women with mental illness is fragmented and contains gaps and duplications. -It is estimated 1,029 girl aged 13–19 years affected with anorexia nervosa and there would be an estimated 1,029 girl aged 13–19 years affected with anorexia nervosa. Recommendations: -Work is required with primary health care in order to identify women with undiagnosed mental illnesses. Further work is undertaken within primary health care to assess disease registries with the aim of helping GP practices to improve their disease registers. -It is important to conduct local psychiatric morbidity surveys in Dubai to obtain data and assess the prevalence of essential mental health symptoms and conditions that are not routinely collected to get a clear sense of what is needed and to assist decision and policy making in getting a complete picture on what services are required. -Emergency Mental Health Care – there is a need for a crisis response team to respond to emergencies in the community. -Continuum of care – a significant gap in the services for women once they diagnosed with mental disorder.

Keywords: mental health, depression, schizophrenia, women

Procedia PDF Downloads 212
Improving Carbon Dioxide Mass Transfer in Open Pond Raceway Systems for Improved Algal Productivity

Authors: William Middleton, Nodumo Zulu, Sue Harrison

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Open raceway ponds are currently the most used system for the commercial cultivation of algal biomass, as it is a cost-effective means of production. However, raceway ponds suffer from lower algal productivity when compared to closed photobioreactors. This is due to poor gas exchange between the fluid and the atmosphere. Carbon dioxide (CO₂) mass transfer is a large concern in the production of algae in raceway pond systems. The utilization of atmospheric CO₂ does not support maximal growth; however, CO₂ supplementation in the form of flue gas or concentrated CO₂ is not cost-effective. The introduction of slopes into the raceway system presents a possible improvement to the mass transfer from the air, as seen in previous work conducted at CeBER. Slopes improve turbulence (decreasing the concentration gradient of dissolved CO₂) and can cause air entrainment (allowing for greater surface area and contact time between the air and water). This project tests the findings of previous studies conducted in an indoor lab-scale raceway on a larger scale under outdoor conditions. The addition of slopes resulted in slightly increased CO₂ mass transfer as well as algal growth rate and productivity. However, there were reductions in energy consumption and average fluid velocity in the system. These results indicate a potential to improve the economic feasibility of algal biomass production, but further economic assessment would need to be carried out.

Keywords: algae, raceway ponds, mass transfer, algal culture, biotechnology, reactor design

Procedia PDF Downloads 107
A Next Generation Multi-Scale Modeling Theatre for in silico Oncology

Authors: Safee Chaudhary, Mahnoor Naseer Gondal, Hira Anees Awan, Abdul Rehman, Ammar Arif, Risham Hussain, Huma Khawar, Zainab Arshad, Muhammad Faizyab Ali Chaudhary, Waleed Ahmed, Muhammad Umer Sultan, Bibi Amina, Salaar Khan, Muhammad Moaz Ahmad, Osama Shiraz Shah, Hadia Hameed, Muhammad Farooq Ahmad Butt, Muhammad Ahmad, Sameer Ahmed, Fayyaz Ahmed, Omer Ishaq, Waqar Nabi, Wim Vanderbauwhede, Bilal Wajid, Huma Shehwana, Muhammad Tariq, Amir Faisal

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Cancer is a manifestation of multifactorial deregulations in biomolecular pathways. These deregulations arise from the complex multi-scale interplay between cellular and extracellular factors. Such multifactorial aberrations at gene, protein, and extracellular scales need to be investigated systematically towards decoding the underlying mechanisms and orchestrating therapeutic interventions for patient treatment. In this work, we propose ‘TISON’, a next-generation web-based multiscale modeling platform for clinical systems oncology. TISON’s unique modeling abstraction allows a seamless coupling of information from biomolecular networks, cell decision circuits, extra-cellular environments, and tissue geometries. The platform can undertake multiscale sensitivity analysis towards in silico biomarker identification and drug evaluation on cellular phenotypes in user-defined tissue geometries. Furthermore, integration of cancer expression databases such as The Cancer Genome Atlas (TCGA) and Human Proteome Atlas (HPA) facilitates in the development of personalized therapeutics. TISON is the next-evolution of multiscale cancer modeling and simulation platforms and provides a ‘zero-code’ model development, simulation, and analysis environment for application in clinical settings.

Keywords: systems oncology, cancer systems biology, cancer therapeutics, personalized therapeutics, cancer modelling

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Escape Room Pedagogy: Using Gamification to Promote Engagement, Encourage Connections, and Facilitate Skill Development in Undergraduate Students

Authors: Scott McCutcheon, Karen Schreder

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Higher education is facing a new reality. Student connection with coursework, instructor, and peers competes with online gaming, screen time, and instant gratification. Pedagogical methods that align student connection and critical thinking in a content-rich environment are important in supporting student learning, a sense of community, and emotional health. This mixed methods study focuses on exploring how the use of educational escape rooms (EERs) can support student learning and learning retention while fostering engagement with each other, the instructor, and the coursework. EERs are content-specific, cooperative, team-based learning activities designed to be completed within a short segment of a typical class. Data for the study was collected over three semesters and includes results from the implementation of EERs in science-based and liberal studies courses taught by different instructors. Twenty-seven students were surveyed regarding their learning experiences with this pedagogy, and interviews with four student volunteers were conducted to add depth to the survey data. A key finding from this research indicates that students felt more connected to each other and the course content after participating in the escape room activity. Additional findings point to increased engagement and comprehension of the class material. Data indicates that the use of an EER pedagogy supports student engagement, well-being, subject comprehension, and student-student and student-instructor connection.

Keywords: gamification, innovative pedagogy, student engagement, student emotional well being

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Unleashing Potential in Pedagogical Innovation for STEM Education: Applying Knowledge Transfer Technology to Guide a Co-Creation Learning Mechanism for the Lingering Effects Amid COVID-19

Authors: Lan Cheng, Harry Qin, Yang Wang

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Background: COVID-19 has induced the largest digital learning experiment in history. There is also emerging research evidence that students have paid a high cost of learning loss from virtual learning. University-wide survey results demonstrate that digital learning remains difficult for students who struggle with learning challenges, isolation, or a lack of resources. Large-scale efforts are therefore increasingly utilized for digital education. To better prepare students in higher education for this grand scientific and technological transformation, STEM education has been prioritized and promoted as a strategic imperative in the ongoing curriculum reform essential for unfinished learning needs and whole-person development. Building upon five key elements identified in the STEM education literature: Problem-based Learning, Community and Belonging, Technology Skills, Personalization of Learning, Connection to the External Community, this case study explores the potential of pedagogical innovation that integrates computational and experimental methodologies to support, enrich, and navigate STEM education. Objectives: The goal of this case study is to create a high-fidelity prototype design for STEM education with knowledge transfer technology that contains a Cooperative Multi-Agent System (CMAS), which has the objectives of (1) conduct assessment to reveal a virtual learning mechanism and establish strategies to facilitate scientific learning engagement, accessibility, and connection within and beyond university setting, (2) explore and validate an interactional co-creation approach embedded in project-based learning activities under the STEM learning context, which is being transformed by both digital technology and student behavior change,(3) formulate and implement the STEM-oriented campaign to guide learning network mapping, mitigate the loss of learning, enhance the learning experience, scale-up inclusive participation. Methods: This study applied a case study strategy and a methodology informed by Social Network Analysis Theory within a cross-disciplinary communication paradigm (students, peers, educators). Knowledge transfer technology is introduced to address learning challenges and to increase the efficiency of Reinforcement Learning (RL) algorithms. A co-creation learning framework was identified and investigated in a context-specific way with a learning analytic tool designed in this study. Findings: The result shows that (1) CMAS-empowered learning support reduced students’ confusion, difficulties, and gaps during problem-solving scenarios while increasing learner capacity empowerment, (2) The co-creation learning phenomenon have examined through the lens of the campaign and reveals that an interactive virtual learning environment fosters students to navigate scientific challenge independently and collaboratively, (3) The deliverables brought from the STEM educational campaign provide a methodological framework both within the context of the curriculum design and external community engagement application. Conclusion: This study brings a holistic and coherent pedagogy to cultivates students’ interest in STEM and develop them a knowledge base to integrate and apply knowledge across different STEM disciplines. Through the co-designing and cross-disciplinary educational content and campaign promotion, findings suggest factors to empower evidence-based learning practice while also piloting and tracking the impact of the scholastic value of co-creation under the dynamic learning environment. The data nested under the knowledge transfer technology situates learners’ scientific journey and could pave the way for theoretical advancement and broader scientific enervators within larger datasets, projects, and communities.

Keywords: co-creation, cross-disciplinary, knowledge transfer, STEM education, social network analysis

Procedia PDF Downloads 119
Raising Awareness to Health Professionals about Emotional Needs of Families Suffering Perinatal Loss through a Short Documentary

Authors: Elisenda Camprecios, Alicia Macarrila, Montse Albiol, Neus Garriga Garriga

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The loss of a child during pregnancy, or shortly after birth, is not a common occurrence, but it is a prevalent fact in our society. When this loss happens, life and death walk together. The grief that parents experience following a perinatal loss is a devastating experience. Professionals are aware that the quality of care offered during this first period is crucial to support the families experiencing a perinatal loss and meet their needs. However, it is not always easy for the health care professionals to know what to say and what to do in these difficult circumstances. Given the complexity of the Health, painful process that a family must face when is affected by such loss, we believe that the creation of a protocol that pays special attention to the emotional needs of those couples can be a very valuable tool for the professionals. The short documentary named ‘When the illusion vanished’ was created as part of the material of this protocol, which focuses on the emotional needs of the families who have suffered a perinatal loss. This video is designed to see what impact has a perinatal death and to raise awareness among professionals working in this field. The methodology is based on interviews with couples who have experienced perinatal death and to professionals who accompany families suffering from perinatal loss. The use of sensitive and empathized words, being encouraged to express feelings, respect the time, appropriate training for the professionals are some of the issues reflected in this documentary. We believe that this video has contributed to help health care professionals to empathize and understand the need to be able to accompany these families with the appropriate care, respectful, empathetic attitude and professionalism so that they can start the path to a ‘healthy’ mourning.

Keywords: neonatal loss, midwifery, perinatal bereavement, perinatal loss

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Green Revolution and Reckless Use of Water and Its Implication on Climate Change Leading to Desertification: Situation of Karnataka, India

Authors: Arun Das

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One of the basic objectives of Independent India five decades ago was to meet the increasing demand for food to its growing population. Self-sufficiency was accomplished towards food production and it was attained through launching green revolution program. The green revolution repercussions were not realized at that moment. Many projects were undertaken. Especially, major and minor irrigation projects were executed to harness the river water in the dry land regions of Karnataka. In the elevated topographical lands, extraction of underground water was a solace given by the government to protect the interest of the dry land farmers whose land did not come under the command area. Free borewell digging, pump sets, and electricity were provided. Thus, the self-sufficiency was achieved. Contrary to this, the Continuous long-term extraction of water for agriculture from bore well and in the irrigated tracks has lead to two-way effect such as soil leeching (Alkalinity and Salinity), secondly, depleted underground water to incredible deeps has pushed the natural process to an un-reparable damage which in turn the nature lost to support even a tiny plants like grass to grow, discouraging human and animal habitation, Both the process is silently turning southwestern, central, northeastern and north western regions of Karnataka into desert. The grave situation of Karnataka green revolution is addressed in this paper to alert reckless use of water and also some of the suggestions are recommended based on the ground information.

Keywords: alkalinity, desertification, green revolution, salinity, water

Procedia PDF Downloads 286
Automated Manual Handling Risk Assessments: Practitioner Experienced Determinants of Automated Risk Analysis and Reporting Being a Benefit or Distraction

Authors: S. Cowley, M. Lawrance, D. Bick, R. McCord

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Technology that automates manual handling (musculoskeletal disorder or MSD) risk assessments is increasingly available to ergonomists, engineers, generalist health and safety practitioners alike. The risk assessment process is generally based on the use of wearable motion sensors that capture information about worker movements for real-time or for posthoc analysis. Traditionally, MSD risk assessment is undertaken with the assistance of a checklist such as that from the SafeWork Australia code of practice, the expert assessor observing the task and ideally engaging with the worker in a discussion about the detail. Automation enables the non-expert to complete assessments and does not always require the assessor to be there. This clearly has cost and time benefits for the practitioner but is it an improvement on the assessment by the human. Human risk assessments draw on the knowledge and expertise of the assessor but, like all risk assessments, are highly subjective. The complexity of the checklists and models used in the process can be off-putting and sometimes will lead to the assessment becoming the focus and the end rather than a means to an end; the focus on risk control is lost. Automated risk assessment handles the complexity of the assessment for the assessor and delivers a simple risk score that enables decision-making regarding risk control. Being machine-based, they are objective and will deliver the same each time they assess an identical task. However, the WHS professional needs to know that this emergent technology asks the right questions and delivers the right answers. Whether it improves the risk assessment process and results or simply distances the professional from the task and the worker. They need clarity as to whether automation of manual task risk analysis and reporting leads to risk control or to a focus on the worker. Critically, they need evidence as to whether automation in this area of hazard management leads to better risk control or just a bigger collection of assessments. Practitioner experienced determinants of this automated manual task risk analysis and reporting being a benefit or distraction will address an understanding of emergent risk assessment technology, its use and things to consider when making decisions about adopting and applying these technologies.

Keywords: automated, manual-handling, risk-assessment, machine-based

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Retrospective Insight on the Changing Status of the Romanian Language Spoken in the Republic of Moldova

Authors: Gina Aurora Necula

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From its transformation into a taboo and its hiding under the so-called “Moldovan language” or under the euphemistic expression “state language” to its regained status recognition as an official language, the Romanian language spoken in the Republic of Moldova has undergone impressive reforms in the last 60 years. Meant to erase the awareness of citizens’ ethnic identity and turn a majority language into a minority one, all the laws and regulations issued on the field succeeded into setting numerous barriers for speakers of Romanian. Either manifested as social constraints or materialized into assumed rejection of mother tongue usage, all these laws have demonstrated their usefulness and major impact on the Romanian-speaking population. This article is the result of our research carried out over 10 years with the support of students, and Moldovan citizens, from the master's degree program "Romanian language - identity and cultural awareness." We present here a retrospective insight of the reforms, laws, and regulations that contributed to the shifted status of the Romanian language from the official language, seen as the language of common use both in the public and private spheres, in the minority language that surrendered its privileged place to the Russian language, firstly in the public sphere, and then, slowly but surely, in the private sphere. Our main goal here is to identify and make speakers understand what the barriers to learning Romanian language are nowadays when the social pressure on using Russian no longer exists.

Keywords: linguistic barriers, lingua franca, private sphere, public sphere, reformation

Procedia PDF Downloads 120
Art, Nature, and City in the Construction of Contemporary Public Space

Authors: Rodrigo Coelho

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We believe that in the majority of the “recent production of public space", the overvaluation of the "image", of the "ephemeral" and of the "objectual", has come to determine the configuration of banal and (more or less) arbitrary "public spaces", mostly linked to a problem of “outdoor decoration”, reflecting a clear sign of uncertainty and arbitrariness about the meaning, the role and shape of public space and public art.This "inconsistency" which is essentially linked to the loss of urban, but also social, cultural and political, vocation of the disciplines that “shape” the urban space (but is also linked to the lack of urban and technical culture of techinicians and policy makers) converted a significant set of the recently built "public space" and “urban art” into diffuse and multi-referenced pieces, which generally shares the inability of confering to the urban space, civic, aesthetic, social and symbolic meanings. In this sense we consider it is essential to undertake a theoretical reflection on the values, the meaning(s) and the shape(s) that open space, and urban art may (or must) take in the current urban and cultural context, in order to redeem for public space its status of significant physical reference, able to embody a spatial and urban identity, and simultaneously enable the collective accession and appropriation of public space. Taking as reference public space interventions built in the last decade on the European context, we will seek to explore and defend the need of considering public space as a true place of exception, an exceptional support where the emphasis is placed on the quality of the experience, especially by the relations public space/urban art can established with the city, with nature and geography in a broad sense, referring us back to a close and inseparable and timeless relationship between nature and culture.

Keywords: art, city, nature, public space

Procedia PDF Downloads 453
Links between Moral Distress of Registered Nurses and Factors Related to Patient Care at the End of Their Life: A Cross Sectional Survey

Authors: L. Laurs, A. Blazeviciene, D. Milonas

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Introduction: Nursing as a profession is grounded in moral obligation. Nursing practice is grounded in ethical standards: to not harm, to promote justice, to be accountable, and to provide safe and competent care. The nature of the nurse-patient therapeutic relationship requires acting on the patient's behalf. Moral distress consists of negative stress symptoms that occur in situations that involve ethical situations that the nurse perceives as discordant with their professional values. Aim of the Study: The purpose of this study was to assess links between moral distress of registered nurses and factors related to patient care at the end of their life. Methods and Sample: A descriptive, cross-sectional, correlational design was applied in this study. Registered nurses were recruited from seven municipal multi-profile hospitals providing both general and specialized healthcare services in Lithuania (N=1055). Research instruments included two questionnaires: Obstacles and Facilitating at the End of Life Care and Moral Distress Scale (revised). Results: Spearman’s correlation analysis was performed to assess the relationship between nurses' attitudes towards patient care at the end of life and the experienced moral distress. A statistically significant correlation between moral distress and the following factors related to patient end-of-life care has been identified: conversations with physicians on patient end-of-life problems have a positive impact on job satisfaction; some patients may be excluded from decisions about their treatment and nursing because they are questioned about their ability to assess the situation. These situations increased moral distress. Patient consciousness should not be permanently suppressed by calming medications, and the patient should be provided with all nursing care services and moral distress. Conclusions: The moral distress of nurses is significantly related to the end-of-life care of patients and their determinants: moral distress increased due to lack of discussion with doctors about problem-solving and exclusion of patients from decision-making. And it diminished by refusing calming medications to permanently suppress a patient's consciousness and providing good care for patients.

Keywords: moral distress, registered nurses, end of life, care

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Poly (3,4-Ethylenedioxythiophene) Prepared by Vapor Phase Polymerization for Stimuli-Responsive Ion-Exchange Drug Delivery

Authors: M. Naveed Yasin, Robert Brooke, Andrew Chan, Geoffrey I. N. Waterhouse, Drew Evans, Darren Svirskis, Ilva D. Rupenthal

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Poly(3,4-ethylenedioxythiophene) (PEDOT) is a robust conducting polymer (CP) exhibiting high conductivity and environmental stability. It can be synthesized by either chemical, electrochemical or vapour phase polymerization (VPP). Dexamethasone sodium phosphate (dexP) is an anionic drug molecule which has previously been loaded onto PEDOT as a dopant via electrochemical polymerisation; however this technique requires conductive surfaces from which polymerization is initiated. On the other hand, VPP produces highly organized biocompatible CP structures while polymerization can be achieved onto a range of surfaces with a relatively straight forward scale-up process. Following VPP of PEDOT, dexP can be loaded and subsequently released via ion-exchange. This study aimed at preparing and characterising both non-porous and porous VPP PEDOT structures including examining drug loading and release via ion-exchange. Porous PEDOT structures were prepared by first depositing a sacrificial polystyrene (PS) colloidal template on a substrate, heat curing this deposition and then spin coating it with the oxidant solution (iron tosylate) at 1500 rpm for 20 sec. VPP of both porous and non-porous PEDOT was achieved by exposing to monomer vapours in a vacuum oven at 40 mbar and 40 °C for 3 hrs. Non-porous structures were prepared similarly on the same substrate but without any sacrificial template. Surface morphology, compositions and behaviour were then characterized by atomic force microscopy (AFM), scanning electron microscopy (SEM), x-ray photoelectron spectroscopy (XPS) and cyclic voltammetry (CV) respectively. Drug loading was achieved by 50 CV cycles in a 0.1 M dexP aqueous solution. For drug release, each sample was exposed to 20 mL of phosphate buffer saline (PBS) placed in a water bath operating at 37 °C and 100 rpm. Film was stimulated (continuous pulse of ± 1 V at 0.5 Hz for 17 mins) while immersed into PBS. Samples were collected at 1, 2, 6, 23, 24, 26 and 27 hrs and were analysed for dexP by high performance liquid chromatography (HPLC Agilent 1200 series). AFM and SEM revealed the honey comb nature of prepared porous structures. XPS data showed the elemental composition of the dexP loaded film surface, which related well with that of PEDOT and also showed that one dexP molecule was present per almost three EDOT monomer units. The reproducible electroactive nature was shown by several cycles of reduction and oxidation via CV. Drug release revealed success in drug loading via ion-exchange, with stimulated porous and non-porous structures exhibiting a proof of concept burst release upon application of an electrical stimulus. A similar drug release pattern was observed for porous and non-porous structures without any significant statistical difference, possibly due to the thin nature of these structures. To our knowledge, this is the first report to explore the potential of VPP prepared PEDOT for stimuli-responsive drug delivery via ion-exchange. The produced porous structures were ordered and highly porous as indicated by AFM and SEM. These porous structures exhibited good electroactivity as shown by CV. Future work will investigate porous structures as nano-reservoirs to increase drug loading while sealing these structures to minimize spontaneous drug leakage.

Keywords: PEDOT for ion-exchange drug delivery, stimuli-responsive drug delivery, template based porous PEDOT structures, vapour phase polymerization of PEDOT

Procedia PDF Downloads 235
A Method for Evaluating the Mechanical Stress on Mandibular Advancement Devices

Authors: Tsung-yin Lin, Yi-yu Lee, Ching-hua Hung

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Snoring, the lay term for obstructive breathing during sleep, is one of the most prevalent of obnoxious human habits. Loud snoring usually makes others feel noisy and uncomfortable. Snoring also influences the sleep quality of snorers’ bed partners, because of the noise they do not get to sleep easily. Snoring causes the reduce of sleep quality leading to several medical problems, such as excessive daytime sleepiness, high blood pressure, increased risk for cardiovascular disease and cerebral vascular accident, and etc. There are many non-prescription devices offered for sale on the market, but very limited data are available to support a beneficial effect of these devices on snoring and use in treating obstructive sleep apnea (OSA). Mandibular advancement devices (MADs), also termed as the Mandibular reposition devices (MRDs) are removable devices which are worn at night during sleep. Most devices require dental impression, bite registration, and fabrication by a dental laboratory. Those devices are fixed to upper and lower teeth and are adjusted to advance the mandible. The amount of protrusion is adjusted to meet the therapeutic requirements, comfort, and tolerance. Many devices have a fixed degree of advancement. Some are adjustable in a limited degree. This study focuses on the stress analysis of Mandibular Advancement Devices (MADs), which are considered as a standard treatment of snoring that promoted by American Academy of Sleep Medicine (AASM). This paper proposes a new MAD design, and the finite element analysis (FEA) is introduced to precede the stress simulation for this MAD.

Keywords: finite element analysis, mandibular advancement devices, mechanical stress, snoring

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Impact of Changes of the Conceptual Framework for Financial Reporting on the Indicators of the Financial Statement

Authors: Nadezhda Kvatashidze

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The International Accounting Standards Board updated the conceptual framework for financial reporting. The main reason behind it is to resolve the tasks of the accounting, which are caused by the market development and business-transactions of a new economic content. Also, the investors call for higher transparency of information and responsibility for the results in order to make a more accurate risk assessment and forecast. All these make it necessary to further develop the conceptual framework for financial reporting so that the users get useful information. The market development and certain shortcomings of the conceptual framework revealed in practice require its reconsideration and finding new solutions. Some issues and concepts, such as disclosure and supply of information, its qualitative characteristics, assessment, and measurement uncertainty had to be supplemented and perfected. The criteria of recognition of certain elements (assets and liabilities) of reporting had to be updated, too and all this is set out in the updated edition of the conceptual framework for financial reporting, a comprehensive collection of concepts underlying preparation of the financial statement. The main objective of conceptual framework revision is to improve financial reporting and development of clear concepts package. This will support International Accounting Standards Board (IASB) to set common “Approach & Reflection” for similar transactions on the basis of mutually accepted concepts. As a result, companies will be able to develop coherent accounting policies for those transactions or events that are occurred from particular deals to which no standard is used or when standard allows choice of accounting policy.

Keywords: conceptual framework, measurement basis, measurement uncertainty, neutrality, prudence, stewardship

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Signals Affecting Crowdfunding Success for Australian Social Enterprises

Authors: Mai Yen Nhi Doan, Viet Le, Chamindika Weerakoon

Abstract:

Social enterprises have emerged as sustainable organisations that deliver social achievement along with long-term financial advancement. However, recorded financial barriers have urged social enterprises to divert to other financing methods due to the misaligned ideology with traditional financing capitalists, in which crowdfunding can be a promising alternative. Previous studies in crowdfunding have inadequately addressed crowdfunding for social enterprises, with conflicting results due to the unsuitable analysis of signals in isolation rather than in combinations, using the data from platforms that do not support social enterprises. Extending the signalling theory, this study suggests that crowdfunding success results from the collaboration between costly and costless signals. The proposed conceptual framework enlightens the interaction between costly signals as “organisational information”, “social entrepreneur’s credibility,” and “third-party endorsement” and costless signals as various sub-signals under the “campaign preparedness” signal to achieve crowdfunding success. Using Qualitative Comparative Analysis, this study examined 45 crowdfunding campaigns run by Australian social enterprises on StartSomeGood and Chuffed. The analysis found that different combinations of costly and costless signals can lead to crowdfunding success, allowing social enterprises to adopt suitable combinations of signals to their context. Costless signal – campaign preparedness is fundamental for success, though different costless sub-signals under campaign preparedness can interact with different costly signals for the desired outcome. Third-party endorsement signal was found to be the necessary signal for crowdfunding success for Australian social enterprises.

Keywords: crowdfunding, qualitative comparative analysis (QCA), signalling theory, social enterprises

Procedia PDF Downloads 111
Noise Pollution in Nigerian Cities: Case Study of Bida, Nigeria

Authors: Funke Morenike Jiyah, Joshua Jiyah

Abstract:

The occurrence of various health issues have been linked to excessive noise pollution in all works of life as evident in many research efforts. This study provides empirical analysis of the effects of noise pollution on the well-being of the residents of Bida Local Government Area, Niger State, Nigeria. The study adopted a case study research design, involving cross-sectional procedure. Field observations and medical reports were obtained to support the respondents’ perception on the state of their well-being. The sample size for the study was selected using the housing stock in the various wards. One major street in each ward was selected. A total of 1,833 buildings were counted along the sampled streets and 10% of this was selected for the administration of structured questionnaire.The environmental quality of the wards was determined by measuring the noise level using Testo 815 noise meters. The result revealed that Bariki ward which houses the GRA has the lowest noise level of 37.8 dB(A)while the noise pollution levels recorded in the other thirteen wards were all above the recommended levels. The average ambient noise level in sawmills, commercial centres, road junctions and industrial areas were above 90 dB(A). The temporal record from the Federal Medical Centre, Bida revealed that, apart from malaria, hypertension (5,614 outpatients) was the most prevalent health issue in 2013 alone. The paper emphasised the need for compatibility consideration in the choice of residential location, the use of ear muffler and effective enforcement of zoning regulations.

Keywords: bida, decibels, environmental quality, noise, well-being

Procedia PDF Downloads 139
System-level Factors, Presidential Coattails and Mass Preferences: Dynamics of Party Nationalization in Contemporary Brazil (1990-2014)

Authors: Kazuma Mizukoshi

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Are electoral politics in contemporary Brazil still local in organization and focus? The importance of this question lies in its paradoxical trajectories. First, often coupled with institutional and sociological ‘barriers’ (e.g. the selection and election of candidates relatively loyal to the local party leadership, the predominance of territorialized electoral campaigns, and the resilience of political clientelism), the regionalization of electoral politics has been a viable and practical solution especially for pragmatic politicians in some Latin American countries. On the other hand, some leftist parties that once served as minor opposition forces at the time of foundational or initial elections have certainly expanded vote shares. Some were eventually capable of holding most (if not a majority) legislative seats since the 1990s. Though not yet rigorously demonstrated, theoretically implicit in the rise of leftist parties in legislative elections is the gradual (if not complete) nationalization of electoral support—meaning the growing equality of a party’s vote share across electoral districts and its change over time. This study will develop four hypotheses to explain the dynamics of party nationalization in contemporary Brazil: district magnitude, ethnic and class fractionalization of each district, voting intentions in federal and state executive elections, and finally the left-right stances of electorates. The study will demonstrate these hypotheses by closely working with the Brazilian Electoral Study (2002-2014).

Keywords: party nationalization, presidential coattails, Left, Brazil

Procedia PDF Downloads 140
Flood Early Warning and Management System

Authors: Yogesh Kumar Singh, T. S. Murugesh Prabhu, Upasana Dutta, Girishchandra Yendargaye, Rahul Yadav, Rohini Gopinath Kale, Binay Kumar, Manoj Khare

Abstract:

The Indian subcontinent is severely affected by floods that cause intense irreversible devastation to crops and livelihoods. With increased incidences of floods and their related catastrophes, an Early Warning System for Flood Prediction and an efficient Flood Management System for the river basins of India is a must. Accurately modeled hydrological conditions and a web-based early warning system may significantly reduce economic losses incurred due to floods and enable end users to issue advisories with better lead time. This study describes the design and development of an EWS-FP using advanced computational tools/methods, viz. High-Performance Computing (HPC), Remote Sensing, GIS technologies, and open-source tools for the Mahanadi River Basin of India. The flood prediction is based on a robust 2D hydrodynamic model, which solves shallow water equations using the finite volume method. Considering the complexity of the hydrological modeling and the size of the basins in India, it is always a tug of war between better forecast lead time and optimal resolution at which the simulations are to be run. High-performance computing technology provides a good computational means to overcome this issue for the construction of national-level or basin-level flash flood warning systems having a high resolution at local-level warning analysis with a better lead time. High-performance computers with capacities at the order of teraflops and petaflops prove useful while running simulations on such big areas at optimum resolutions. In this study, a free and open-source, HPC-based 2-D hydrodynamic model, with the capability to simulate rainfall run-off, river routing, and tidal forcing, is used. The model was tested for a part of the Mahanadi River Basin (Mahanadi Delta) with actual and predicted discharge, rainfall, and tide data. The simulation time was reduced from 8 hrs to 3 hrs by increasing CPU nodes from 45 to 135, which shows good scalability and performance enhancement. The simulated flood inundation spread and stage were compared with SAR data and CWC Observed Gauge data, respectively. The system shows good accuracy and better lead time suitable for flood forecasting in near-real-time. To disseminate warning to the end user, a network-enabled solution is developed using open-source software. The system has query-based flood damage assessment modules with outputs in the form of spatial maps and statistical databases. System effectively facilitates the management of post-disaster activities caused due to floods, like displaying spatial maps of the area affected, inundated roads, etc., and maintains a steady flow of information at all levels with different access rights depending upon the criticality of the information. It is designed to facilitate users in managing information related to flooding during critical flood seasons and analyzing the extent of the damage.

Keywords: flood, modeling, HPC, FOSS

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Social Responsibility in Reducing Gap between High School and 1st Year University Maths: SMU Case, South Africa

Authors: Solly M. Seeletse, Joel L. Thabane

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Students enrolling at the Sefako Makgatho Health Sciences University (SMU) come mostly from the previously disadvantaged communities of South Africa. Their backgrounds are deprived in resources and modern technologies of education. Most of those admitted in the basic sciences were rejected in medicine and health related study programmes in SMU. Mathematics (maths) is the main subject for admission into SMU study programmes. However, maths results are usually low. In an attempt to help to prepare the students in the neighbourhood schools of SMU, some Maths educators partnered with local schools to communicate the needs and investigate the causes of poor maths results. They embarked on an action research to determine the level of educators’ maths education. The general aim of the research was to investigate the causes of deficiencies in maths teaching and results in the local secondary schools, focusing on teachers and learners. Asking the teachers about their education and learners about maths concepts of most difficulty, these were identified. The researchers assisted in teaching the difficult concepts. The study highlighted the most difficult concepts and the teachers’ lack of training in some content. Intervention of the researchers showed to be effective only for the very poor performing schools. Those with descent pass rates of over 50% did not benefit from it. This was the sign of lack of optimality in the methods used. The research recommendations suggested that intervention methods should be improved to be effective in all schools, and extension of the endeavours to more schools.

Keywords: action research, intervention, social responsibility, support

Procedia PDF Downloads 271
The Effect of the Cultural Constraint on the Reform of Corporate Governance: The Observation of Taiwan's Efforts to Transform Its Corporate Governance

Authors: Yuanyi (Richard) Fang

Abstract:

Under the theory of La Porta, Lopez-de-Silanes, Shleifer, and Vishny, if a country can increase its legal protections for minority shareholders, the country can develop an ideal securities market that only arises under the dispersed ownership corporate governance. However, the path-dependence scholarship, such as Lucian Arye Bebchuk and Mark J. Roe, presented a different view with LLS&V. They pointed out that the initial framework of the ownership structure and traditional culture will prevent the change of the corporate governance structure through legal reform. This paper contends that traditional culture factors as an important aspect when forming the corporate governance structure. However, it is not impossible for the government to change its traditional corporate governance structure and traditional culture because the culture does not remain intact. Culture evolves with time. The occurrence of the important events will affect the people’s psychological process. The psychological process affects the evolution of culture. The new cultural norms can help defeat the force of the traditional culture and the resistance from the initial corporate ownership structure. Using Taiwan as an example, through analyzing the historical background, related corporate rules and the reactions of adoption new rules from the media, this paper try to show that Taiwan’s culture norms do not remain intact and have changed with time. It further provides that the culture is not always the hurdle for the adoption of the dispersed ownership corporate governance structure as the culture can change. A new culture can provide strong support for the adoption of the new corporate governance structure.

Keywords: LLS&V theory, corporate governance, culture, path–dependent theory

Procedia PDF Downloads 479
Sustainable Management Practices in Facilities Management for Housing Estates: Literature Review - Case of South Africa

Authors: Chidozie Celestine Uzoigwe, Thabelo Ramantswana

Abstract:

Purpose: The purpose of the paper is to review the current state of knowledge in Sustainable Management (SM) practices in Facilities Management (FM) for housing estates with a view to identifying gaps and drawbacks in the existing body of knowledge. Integrating SM practices in housing estates is understood and applied in some developed countries, but little is known about the concept by practitioners in developing nations like South Africa. Indeed, South African housing studies and policy documents emphasize the significance of sustainability practices in housing estates, but regrettably, it still remains in unsustainable housing for decades. Method: This is done through a comprehensive literature review in combination with the “Preferred Reporting Items for Systematic Reviews and Meta-Analyses” (PRISMA) guidelines and the Recursive Content Abstraction (RCA) analytical approach. Finding: Findings revealed there are significant challenges to the integration of SM practices in FM for housing estates in South Africa, such as lack of understanding and expertise by practitioners, absence of support from top-level management, lack of appropriate sustainability management framework as well as people management. The review further suggests the need for an enabler to guide practitioners in integrating the SM concept in housing estates. Originality: Integrating SM principles in facilities management for housing estates are required to eliminate the detrimental impact the built environment exerts on the well-being of individuals and organizations. Thus, the study underlines the need for an enabler that will facilitate practitioners embedding sustainable management measures in the management of housing estates in South Africa.

Keywords: facilities management, housing estates, sustainable facilities management, sustainable management, south africa

Procedia PDF Downloads 105
Designing and Using a 3-D Printed Dynamic Upper Extremity Orthosis (DUEO) with Children with Cerebral Palsy and Severe Upper Extremity Involvement

Authors: Justin Lee, Siraj Shaikh, Alice Chu MD

Abstract:

Children with cerebral palsy (CP) commonly present with upper extremity impairment, affecting one or both extremities, and are classified using the Manual Ability Classification Scale (MACS). The MACS defines bimanual hand abilities for children ages 4-18 years in everyday tasks and is a gradient scale, with I being nearly normal and V requiring total assistance. Children with more severe upper extremity impairment (MACS III-V) are often underrepresented, and relatively few effective therapies have been identified for these patients. Current orthoses are static and are only meant to prevent the progression of contractures in these patients. Other limitations include cost, comfort, accessibility, and longevity of the orthoses. Taking advantage of advances in 3D printing technology, we have created a highly customizable upper extremity orthotic that can be produced at a low cost. Iterations in our design have resulted in an orthotic that is custom fit to the patient based on scans of their arm, made of rigid polymer when needed to provide support, flexible material where appropriate to allow for comfort, and designed with a mechanical pulley system to allow for some functional use of the arm while in the orthotic. Preliminary data has shown that our orthotic can be built at a fraction of the cost of current orthoses and provide clinically significant improvement in assisting hand assessment (AHA) and pediatric quality of life scores (PedsQL).

Keywords: upper extremity orthosis, upper extremity, orthosis, 3-D printing, cerebral palsy, occupational therapy, spasticity, customizable

Procedia PDF Downloads 310
Pilot-Assisted Direct-Current Biased Optical Orthogonal Frequency Division Multiplexing Visible Light Communication System

Authors: Ayad A. Abdulkafi, Shahir F. Nawaf, Mohammed K. Hussein, Ibrahim K. Sileh, Fouad A. Abdulkafi

Abstract:

Visible light communication (VLC) is a new approach of optical wireless communication proposed to support the congested radio frequency (RF) spectrum. VLC systems are combined with orthogonal frequency division multiplexing (OFDM) to achieve high rate transmission and high spectral efficiency. In this paper, we investigate the Pilot-Assisted Channel Estimation for DC biased Optical OFDM (PACE-DCO-OFDM) systems to reduce the effects of the distortion on the transmitted signal. Least-square (LS) and linear minimum mean-squared error (LMMSE) estimators are implemented in MATLAB/Simulink to enhance the bit-error-rate (BER) of PACE-DCO-OFDM. Results show that DCO-OFDM system based on PACE scheme has achieved better BER performance compared to conventional system without pilot assisted channel estimation. Simulation results show that the proposed PACE-DCO-OFDM based on LMMSE algorithm can more accurately estimate the channel and achieves better BER performance when compared to the LS based PACE-DCO-OFDM and the traditional system without PACE. For the same signal to noise ratio (SNR) of 25 dB, the achieved BER is about 5×10-4 for LMMSE-PACE and 4.2×10-3 with LS-PACE while it is about 2×10-1 for system without PACE scheme.

Keywords: channel estimation, OFDM, pilot-assist, VLC

Procedia PDF Downloads 185
Cross- Cultural Cooperation and Innovation: An Exploration of Chinese Foreign Direct Investment in Europe

Authors: Yongsheng Guo, Shuchao Li

Abstract:

This study explores Chinese foreign direct investment (FDI) in Europe and the cross-cultural cooperation between Chinese and European managers. The aim of this research is to shed light on the phenomenon of investments in developed countries from an emerging market and to gain insights into the cooperation process. A grounded theory approach is adopted, and 46 semi-structured interviews were conducted with 10 case companies in Germany and 13 case companies in the UK. Grounded theory models are developed from primary data and interview quotes are used to support the themes. The interviewees perceived differences between the two parties in cultural traits, management concepts, knowledge structure and resource endowment between the two parties. Chinese and European partners can take advantage of different resources and cooperate in innovative ways to improve corporate performance. Moreover, both parties appreciate different ethical and cultural characteristics and complement each other to develop a combined organizational culture. This study proposes an ethical and cultural diversity theory in international management arguing that a team with diversified values and behaviors may be more excited and motivated. This study suggests that “resource complement” and “cross-cultural cooperation” might be an advantage for international investment. Firms are encouraged to open their minds and cooperate with partners with different resources and cultures. The authorities may review the FDI policies to reduce social and political barriers.

Keywords: cross-culture, FDI, cooperation, innovation, China, Europe

Procedia PDF Downloads 100
The Spatial Pattern of Economic Rents of an Airport Development Area: Lessons Learned from the Suvarnabhumi International Airport, Thailand

Authors: C. Bejrananda, Y. Lee, T. Khamkaew

Abstract:

With the rise of the importance of air transportation in the 21st century, the role of economics in airport planning and decision-making has become more important to the urban structure and land value around it. Therefore, this research aims to examine the relationship between an airport and its impacts on the distribution of urban land uses and land values by applying the Alonso’s bid rent model. The New Bangkok International Airport (Suvarnabhumi International Airport) was taken as a case study. The analysis was made over three different time periods of airport development (after the airport site was proposed, during airport construction, and after the opening of the airport). The statistical results confirm that Alonso’s model can be used to explain the impacts of the new airport only for the northeast quadrant of the airport, while proximity to the airport showed the inverse relationship with the land value of all six types of land use activities through three periods of time. It indicates that the land value for commercial land use is the most sensitive to the location of the airport or has the strongest requirement for accessibility to the airport compared to the residential and manufacturing land use. Also, the bid-rent gradients of the six types of land use activities have declined dramatically through the three time periods because of the Asian Financial Crisis in 1997. Therefore, the lesson learned from this research concerns about the reliability of the data used. The major concern involves the use of different areal units for assessing land value for different time periods between zone block (1995) and grid block (2002, 2009). As a result, this affect the investigation of the overall trends of land value assessment, which are not readily apparent. In addition, the next concern is the availability of the historical data. With the lack of collecting historical data for land value assessment by the government, some of data of land values and aerial photos are not available to cover the entire study area. Finally, the different formats of using aerial photos between hard-copy (1995) and digital photo (2002, 2009) made difficult for measuring distances. Therefore, these problems also affect the accuracy of the results of the statistical analyses.

Keywords: airport development area, economic rents, spatial pattern, suvarnabhumi international airport

Procedia PDF Downloads 277
Feeling Sorry for Some Creditors

Authors: Hans Tjio, Wee Meng Seng

Abstract:

The interaction of contract and property has always been a concern in corporate and commercial law, where there are internal structures created that may not match the externally perceived image generated by the labels attached to those structures. We will focus, in particular, on the priority structures created by affirmative asset partitioning, which have increasingly come under challenge by those attempting to negotiate around them. The most prominent has been the AT1 bonds issued by Credit Suisse which were wiped out before its equity when the troubled bank was acquired by UBS. However, this should not have come as a surprise to those whose “bonds” had similarly been “redeemed” upon the occurrence of certain reference events in countries like Singapore, Hong Kong and Taiwan during their Minibond crisis linked to US sub-prime defaults. These were derivatives classified as debentures and sold as such. At the same time, we are again witnessing “liabilities” seemingly ranking higher up the balance sheet ladder, finding themselves lowered in events of default. We will examine the mechanisms holders of perpetual securities or preference shares have tried to use to protect themselves. This is happening against a backdrop that sees a rise in the strength of private credit and inter-creditor conflicts. The restructuring regime of the hybrid scheme in Singapore now, while adopting the absolute priority rule in Chapter 11 as the quid pro quo for creditor cramdown, does not apply to shareholders and so exempts them from cramdown. Complicating the picture further, shareholders are not exempted from cramdown in the Dutch scheme, but it adopts a relative priority rule. At the same time, the important UK Supreme Court decision in BTI 2014 LLC v Sequana [2022] UKSC 25 has held that directors’ duties to take account of creditor interests are activated only when a company is almost insolvent. All this has been complicated by digital assets created by businesses. Investors are quite happy to have them classified as property (like a thing) when it comes to their transferability, but then when the issuer defaults to have them seen as a claim on the business (as a choice in action), that puts them at the level of a creditor. But these hidden interests will not show themselves on an issuer’s balance sheet until it is too late to be considered and yet if accepted, may also prevent any meaningful restructuring.

Keywords: asset partitioning, creditor priority, restructuring, BTI v Sequana, digital assets

Procedia PDF Downloads 80