Search results for: financial behaviour
3789 An Empirical Analysis of the Effects of Corporate Derivatives Use on the Underlying Stock Price Exposure: South African Evidence
Authors: Edson Vengesai
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Derivative products have become essential instruments in portfolio diversification, price discovery, and, most importantly, risk hedging. Derivatives are complex instruments; their valuation, volatility implications, and real impact on the underlying assets' behaviour are not well understood. Little is documented empirically, with conflicting conclusions on how these instruments affect firm risk exposures. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivative usage on the underlying stock price exposure and systematic risk. The paper uses data from South African listed firms. The study employs GARCH models to understand the effect of derivative uses on conditional stock volatility. The GMM models are used to estimate the effect of derivatives use on stocks' systematic risk as measured by Beta and on the total risk of stocks as measured by the standard deviation of returns. The results provide evidence on whether derivatives use is instrumental in reducing stock returns' systematic and total risk. The results are subjected to numerous controls for robustness, including financial leverage, firm size, growth opportunities, and macroeconomic effects.Keywords: derivatives use, hedging, volatility, stock price exposure
Procedia PDF Downloads 1013788 The Antecedent Variables of Government Financial Accounting System (SAKD) Implementation and Its Consequences: Empirical Study on the Device of Regional Coordinating Agency for Development of Cross County, City Region III Central Java Province, Indo
Authors: Dona Primasari
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This study examines the antecedent variables of Government Financial Acccounting System (SAKD) implementation and its consequence. The antecedent variables are: decentralization of decision making, adaptation, and the manager support. The consequences are satisfaction and performance officer. This research represents the empirical test which used convenience sampling technics in data collection. The data were collected from 167 officers of local government in the Regional Coordinating Agency for Development of Cross County/City Region III Central Java Province. Data analysis used Structural Equation Model (SEM) with the AMOS 18.0 program. The result of hypothesis examination indicates that six raised hypothesis are accepted and two hypothesis are rejected.Keywords: decentralization of decision making, adaptation officer, manager support, implementation of Government Accounting Financial System (SAKD), satisfaction and performance officer
Procedia PDF Downloads 3833787 Investigating the Interaction of Individuals' Knowledge Sharing Constructs
Authors: Eugene Okyere-Kwakye
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Knowledge sharing is a practice where individuals commonly exchange both tacit and explicit knowledge to jointly create a new knowledge. Knowledge management literature vividly express that knowledge sharing is the keystone and perhaps it is the most important aspect of knowledge management. To enhance the understanding of knowledge sharing domain, this study is aimed to investigate some factors that could influence employee’s attitude and behaviour to share their knowledge. The researchers employed the social exchange theory as a theoretical foundation for this study. Three essential factors namely: Trust, mutual reciprocity and perceived enjoyment that could influence knowledge sharing behaviour has been incorporated into a research model. To empirically validate this model, data was collected from one hundred and twenty respondents. The multiple regression analysis was employed to analyse the data. The results indicate that perceived enjoyment and trust have a significant influence on knowledge sharing. Surprisingly, mutual reciprocity did not influence knowledge sharing. The paper concludes by highlight the practical implications of the findings and areas for future research to consider.Keywords: perceived enjoyment, trust, knowledge sharing, knowledge management
Procedia PDF Downloads 4303786 Investigating the Efficacy of HIV/AIDS Psycho-Education and Behavioural Skills Training in Reducing Sexual Risk Behaviours in a Trucking Population in Nigeria
Authors: Abiodun Musbau Lawal, Benjamin Oladapo Olley
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Long Distance Truck Drivers (LDTDs) have been found to be a high-risk group in the spread of HIV/AIDS globally; perhaps, due to their high Sexual Risk Behaviours (SRBs). Interventions for reducing SRBs in trucking population have not been fully exploited. A quasi-experimental control group pretest-posttest design was used to assess the efficacy of psycho-education and behavioural skills training in reducing SRBs among LDTDs. Sixteen drivers rivers were randomly assigned into either experimental or control groups using balloting technique. A questionnaire was used as an instrument for data collection. Repeated measures t-test and independent t-test were used to test hypotheses. The intervention had a significant effect on the SRBs among LDTDs at post-test(t{7}=6.01, p<.01) and at followup (t{7}=6.42, p<.01). No significant difference in sexual risk behaviour of LDTDs at post-test and at follow-up stage. Similarly, intervention had significant effects on sexual risk behaviour at post-test (t {14}=- 4.69, p<.05) and at follow-up (t {14}= -9.56, p < .05) respectively. At post-test and follow-up stages, drivers in experimental group reported reduced SRBs than those in the control group. Drivers in an experimental group reported lower sexual risk behaviour a week after intervention as well as at three months follow-up than those in the control group. It is concluded that HIV/AIDS preventive intervention that provides the necessary informational and behavioural skills content can significantly impact long distance truck drivers sexual risk behaviours.Keywords: HIV/AIDS interventions, long distance truck drivers, Nigeria, sexual risk behaviours
Procedia PDF Downloads 4693785 Application of Deep Neural Networks to Assess Corporate Credit Rating
Authors: Parisa Golbayani, Dan Wang, Ionut¸ Florescu
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In this work we implement machine learning techniques to financial statement reports in order to asses company’s credit rating. Specifically, the work analyzes the performance of four neural network architectures (MLP, CNN, CNN2D, LSTM) in predicting corporate credit rating as issued by Standard and Poor’s. The paper focuses on companies from the energy, financial, and healthcare sectors in the US. The goal of this analysis is to improve application of machine learning algorithms to credit assessment. To accomplish this, the study investigates three questions. First, we investigate if the algorithms perform better when using a selected subset of important features or whether better performance is obtained by allowing the algorithms to select features themselves. Second, we address the temporal aspect inherent in financial data and study whether it is important for the results obtained by a machine learning algorithm. Third, we aim to answer if one of the four particular neural network architectures considered consistently outperforms the others, and if so under which conditions. This work frames the problem as several case studies to answer these questions and analyze the results using ANOVA and multiple comparison testing procedures.Keywords: convolutional neural network, long short term memory, multilayer perceptron, credit rating
Procedia PDF Downloads 2273784 Analyzing Behaviour of the Utilization of the Online News Clipping Database: Experience in Suan Sunandha Rajabhat University
Authors: Siriporn Poolsuwan, Kanyarat Bussaban
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This research aims to investigate and analyze user’s behaviour towards the utilization of the online news clipping database at Suan Sunandha Rajabhat University, Thailand. Data is gathered from 214 lecturers and 380 undergraduate students by using questionnaires. Findings show that most users knew the online news clipping service from their friends, library’s website and their teachers. The users learned how to use it by themselves and others learned by training of SSRU library. Most users used the online news clipping database one time per month at home and always used the service for general knowledge, up-to-date academic knowledge and assignment reference. Moreover, the results of using the online news clipping service problems include the users themselves, service management, service device- computer and tools – and the network, service provider, and publicity. This research would be benefit for librarians and teachers for planning and designing library services in their works and organization.Keywords: online database, user behavior, news clipping, library services
Procedia PDF Downloads 3043783 Entrepreneurial Predisposition and Intention of Students from the IFRN – Mossoró, Brazil
Authors: Giovane Gurgel, Cristina S. Rodrigues, Filipa D. Vieira
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IFRN – Mossoró is a Brazilian technical education institute that develops several activities to encourage entrepreneurship, such as a curricular discipline about enterprise management and the existence of a business incubator. Despite efforts, the business incubator does not produce the expected effects. Therefore, what predisposes students to start their own business? If literature review explores determinant factors like the family and personal characteristics, it can be sustained that entrepreneurship skills can be taught since primary level, until university level. This paper presents the results of research project “Empreende IFRN” to understand the entrepreneurial predisposition and intention of the students from technical level courses. Data from 365 students from technical level courses reveal an increased entrepreneurial intention of students during time (from a 2 years period to someday in the future). The entrepreneurial behaviour of parents affects students’ perception about starting their own business. Students also present a cautions behaviour, preferring bank deposit and investment fund instead starting a business.Keywords: Brazil, entrepreneurial intention, entrepreneurship, secondary technical students
Procedia PDF Downloads 2773782 The Relationship between Spanish Economic Variables: Evidence from the Wavelet Techniques
Authors: Concepcion Gonzalez-Concepcion, Maria Candelaria Gil-Fariña, Celina Pestano-Gabino
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We analyze six relevant economic and financial variables for the period 2000M1-2015M3 in the context of the Spanish economy: a financial index (IBEX35), a commodity (Crude Oil Price in euros), a foreign exchange index (EUR/USD), a bond (Spanish 10-Year Bond), the Spanish National Debt and the Consumer Price Index. The goal of this paper is to analyze the main relations between them by computing the Wavelet Power Spectrum and the Cross Wavelet Coherency associated with Morlet wavelets. By using a special toolbox in MATLAB, we focus our interest on the period variable. We decompose the time-frequency effects and improve the interpretation of the results by non-expert users in the theory of wavelets. The empirical evidence shows certain instability periods and reveals various changes and breaks in the causality relationships for sample data. These variables were individually analyzed with Daubechies Wavelets to visualize high-frequency variance, seasonality, and trend. The results are included in Proceeding 20th International Academic Conference, 2015, International Institute of Social and Economic Sciences (IISES), Madrid.Keywords: economic and financial variables, Spain, time-frequency domain, wavelet coherency
Procedia PDF Downloads 2303781 The Return Migration as One of the Possibilities of Migrant Mobility after the Financial Crisis
Authors: Sabrina Mortet
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The economic crisis, which struck the world economy in mid-2008, had an impact on migration in Europe, especially the employment situation of migrant workers. That’s why migrants tended to be the first to lose their jobs during the crisis, victims of the rule "last–in, first-out”. In the same context, the economic recession which affected the migration flows, immigration level has slowed while emigration has increased in some European countries. Since people go where jobs are, we will try to speak about the mobility of migrants after the crisis by focusing on return migration to see if migrants in the period of recession prefer going home or staying in the host country; and we will take Spain as a case of study, because it had attracted an extraordinarily high inflows of migration and it is one of the EU country which was hardly affected by the financial crisis.Keywords: economic crisis, international migration, mobility, return migration, employement
Procedia PDF Downloads 3183780 Bank, Stock Market Efficiency and Economic Growth: Lessons for ASEAN-5
Authors: Tan Swee Liang
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This paper estimates bank and stock market efficiency associations with real per capita GDP growth by examining panel-data across three different regions using Panel-Corrected Standard Errors (PCSE) regression developed by Beck and Katz (1995). Data from five economies in ASEAN (Singapore, Malaysia, Thailand, Philippines, and Indonesia), five economies in Asia (Japan, China, Hong Kong SAR, South Korea, and India) and seven economies in OECD (Australia, Canada, Denmark, Norway, Sweden, United Kingdom U.K., and United States U.S.), between 1990 and 2017 are used. Empirical findings suggest one, for Asia-5 high bank net interest margin means greater bank profitability, hence spurring economic growth. Two, for OECD-7 low bank overhead costs (as a share of total assets) may reflect weak competition and weak investment in providing superior banking services, hence dampening economic growth. Three, stock market turnover ratio has negative association with OECD-7 economic growth, but a positive association with Asia-5, which suggest the relationship between liquidity and growth is ambiguous. Lastly, for ASEAN-5 high bank overhead costs (as a share of total assets) may suggest expenses have not been channelled efficiently to income generating activities. One practical implication of the findings is that policy makers should take necessary measures toward financial liberalisation policies that boost growth through the efficiency channel, so that funds are efficiently allocated through the financial system between financial and real sectors.Keywords: financial development, banking system, capital markets, economic growth
Procedia PDF Downloads 1283779 Foreign Banks Taking More Risk: Evidence from Emerging Economies
Authors: Minghua Chen, Rui Wang
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This paper addresses the impact of foreign ownership on the risk-taking behavior of banks. Using bank-level panel data of more than 1,300 commercial banks in 32 emerging economies during 2000-2013, we find that foreign owned banks take on more risk than their domestic counterparts. We further examine several factors that may potentially contribute to foreign banks’ differentiated riskiness from four perspectives, namely, foreign banks’ informational disadvantages, agency problems, the contagious effect of parent banks’ financial conditions and the disparity between home and host markets. We find supportive evidence that these factors play a significant role in affecting foreign banks’ risk-taking.Keywords: bank risk-taking, emerging economies, financial liberalization, foreign banks
Procedia PDF Downloads 4353778 Social Networks as a Tool for Sports Marketing
Authors: Márcia Aparecida Teixeira
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Sports, in particular football, boosts considerably the financial market of a certain locality, be it city or even a country. The financial transactions involving this medium stand out from other existing businesses, such as small industries. Strategically, social networks are inserted in this sporting environment, in order to promote and attract new fans of this modality. The present study analyzes the use of social networks in Sports Marketing with a focus on football. For the object of this study, it was chosen a specific club, the Club Atlético Mineiro, a Brazilian club of great national notoriety. The social networks on focus will be: Facebook, Twitter, and Instagram. It will be analyzed the content and frequency of the posts, reception of the target public in relation to the content made available and its feedback.Keywords: social network, sport, strategy, marketing
Procedia PDF Downloads 3823777 Feeling, Thinking, Acting: The Role of Subjective Social Class and Social Class Identity on Emotions, Attitudes and Prosocial Behavior Towards Muslim Immigrants in Belgium
Authors: Theresa Zagers, Rita Guerra
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Most research investigating how receiving communities perceive, and experience migration has overlooked the potential role of subjective social class and social class identity in positive intergroup relations and social cohesion of migrants and host societies. The present study aimed to provide insights to understand this relationship and focused on three important features: prosocial behaviour, attitudes and emotions towards Muslim immigrants in Flanders, Belgium. Building on relative deprivation-gratification theory we examined the indirect relationships of subjective social class on prosocial behaviour/intentions, attitudes and emotions via relative deprivation (RD), as well as the moderator role of the importance of social class identity. 431 Belgian participants participated in an online survey study. Overall, our results supported the predicted indirect effect of subjective social class: the lower the subjective social class, the higher the perceptions of relative deprivation, which in turn is related to less prosocial behaviour intentions, and more negative attitudes and emotions towards immigrants. This indirect effect was, however, not moderated by the importance of social class identity. Interestingly, the direct effects of subjective social class showed a different pattern: when bypassing deprivation our results showed higher subjective social class was detrimental for intergroup relations (more negative attitudes and emotions), and that lower subjective social class was positively related to prosocial intentions for those identifying highly with their class identity. Overall, we gained valuable insights in the relationship of subjective social class and the three features of intergroup relations.Keywords: social class, relative deprivation-gratification, prosocial behavior, attitudes, emotions, Muslim immigrants
Procedia PDF Downloads 523776 A Simulation Study of E-Glass Reinforced Polyurethane Footbed and Investigation of Parameters Effecting Elastic Behaviour of Footbed Material
Authors: Berkay Ergene, Çağın Bolat
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In this study, we mainly focused on a simulation study regarding composite footbed in order to contribute to shoe industry. As a footbed, e-glass fiber reinforced polyurethane was determined since polyurethane based materials are already used for footbed in shoe manufacturing frequently. Flat, elliptical and rectangular grooved shoe soles were modeled and analyzed separately as TPU, 10% glass fiber reinforced, 30% glass fiber reinforced and 50% glass fiber reinforced materials according to their properties under three point bending and compression situations to determine the relationship between model, material type and mechanical behaviours of composite model. ANSYS 14.0 APDL mechanical structural module is utilized in all simulations and analyzed stress and strain distributions for different footbed models and materials. Furthermore, materials constants like young modulus, shear modulus, Poisson ratio and density of the composites were calculated theoretically by using composite mixture rule and interpreted for mechanical aspects.Keywords: composite, elastic behaviour, footbed, simulation
Procedia PDF Downloads 2593775 Collision Induced Dissociation of Transition Metal Fluoride Complexes and the Multiply Charged Anions
Authors: Ruqia Nazir, Robin Perutz
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Collision-induced dissociation (CID) can be used to study the intrinsic properties of ions in the gas phase.1 Decay pathways of transition metal difluoride complexes of titanium, zirconium, hafnium, and ruthenium were studied by CID in an ESI-Ion trap mass spectrometer. Furthermore, the decay pathways of multiply charged anions (MCAs) of titanium and zirconium were also studied. The CID results are illustrated by the behaviour of (Cp*)₂TiF₂, which initially forms the ions [M-F-]⁺, [M+Na]⁺, and [M+K]⁺. The [(Cp*₂)TiF⁺ ion decays on resonant excitation to lose HF forming [Cp*(C₅Me₄CH₂)Ti]⁺ (Figure). The other major ion, [(Cp*)₂TiF₂+Na]⁺, decays on resonant excitation with production of [(Cp*)₂TiF₂]⁺ and [C₅Me₄CH₂]⁺. We also report the behaviour of Cp₂MF₂ (M = Zr, Hf) and Ru(PMe₃)₄F₂. The decay pathway of the multiply charged anions (MCAs), notably TiF₆²⁻ and ZrF₆²⁻ was concluded to be ionic fragmentation with loss of F⁻ rather than electron detachment.Keywords: collision induced dissociation, transition metal difluoride comolexes, multiply charged anions, mass spectrometry
Procedia PDF Downloads 993774 Optimization and Simulation Models Applied in Engineering Planning and Management
Authors: Abiodun Ladanu Ajala, Wuyi Oke
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Mathematical simulation and optimization models packaged within interactive computer programs provide a common way for planners and managers to predict the behaviour of any proposed water resources system design or management policy before it is implemented. Modeling presents a principal technique of predicting the behaviour of the proposed infrastructural designs or management policies. Models can be developed and used to help identify specific alternative plans that best meet those objectives. This study discusses various types of models, their development, architecture, data requirements, and applications in the field of engineering. It also outlines the advantages and limitations of each the optimization and simulation models presented. The techniques explored in this review include; dynamic programming, linear programming, fuzzy optimization, evolutionary algorithms and finally artificial intelligence techniques. Previous studies carried out using some of the techniques mentioned above were reviewed, and most of the results from different researches showed that indeed optimization and simulation provides viable alternatives and predictions which form a basis for decision making in building engineering structures and also in engineering planning and management.Keywords: linear programming, mutation, optimization, simulation
Procedia PDF Downloads 5773773 Entrepreneurship the Bed Rock and Mainstram of World Economy
Authors: Njeze Anthony
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In the world economy, entrepreneurship is an outstanding venture. Failures in the businesses of over 70% of Entrepreneurs can be attributed to lack of proper planning. For an entrepreneur to succeed, there are some vital planning strategies that will come into play such as organizational, operational, financial and marketing plans. When an entrepreneur lacks the above mentioned, such an entrepreneur is bound to encounter a catastrophic failure. An entrepreneur with an adequate plan will examine his/her own goals, know why he is in business, look at the venture resource base, have a sound knowledge of his proposed venture and identify obstacles that will be surmounted to achieve the desired goals. This work is aimed at identifying the organizational, operational, financial and marketing impact of entrepreneurship in the world economy and as well the important issues in global entrepreneurship, possible obstacles, and solutions.Keywords: economy, entrepreneurship, business, operation
Procedia PDF Downloads 4453772 Different Contexts Activate Different Frames: Deepening and Broadening Goal-Framing Theory for Sustainable Food Behaviour
Authors: Marleen Onwezen
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It is often assumed that specific consumer groups do or do not have a sustainable lifestyle or that a specific context does or does not trigger sustainable choices. Based on goal-framing theory, this article aims to understand variation in sustainable choices across contexts. We add to the literature by showing the added value of including a moral goal frame (Study 1; N = 1,100) beyond the hedonic, gain, and normative goal frames. Moreover, we add to the literature by revealing how these goal frames are recalled in real-life consumption contexts (Study 2; N = 1,100) and how they can be activated (Study 3; N = 1,651). The results reveal that different goal frames result in different preferences and consumption choices, and that the normative frames showed the most consistent association with sustainable intentions. A contrast exists between frames currently activated in food choice contexts, mainly the gain and hedonic frames, and those associated with sustainable behaviours, the moral and social frames. This indicates the relevance of further understanding and adapting the environment to activate moral and social frames to further enforce sustainable food transitions.Keywords: goal frames, sustainable behaviour, food choice, moral
Procedia PDF Downloads 1263771 Managing Cognitive Load in Accounting: An Analysis of Three Instructional Designs in Financial Accounting
Authors: Seedwell Sithole
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One of the persistent problems in accounting education is how to effectively support students’ learning. A promising technique to this issue is to investigate the extent that learning is determined by the design of instructional material. This study examines the academic performance of students using three instructional designs in financial accounting. Student’s performance scores and reported mental effort ratings were used to determine the instructional effectiveness. The findings of this study show that accounting students prefer graph and text designs that are integrated. The results suggest that spatially separated graph and text presentations in accounting should be reorganized to align with the requirements of human cognitive architecture.Keywords: accounting, cognitive load, education, instructional preferences, students
Procedia PDF Downloads 1363770 Studying the Effects of Conditional Conservatism and Lack of Information Asymmetry on the Cost of Capital of the Accepted Companies in Tehran Stock Exchange
Authors: Fayaz Moosavi, Saeid Moradyfard
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One of the methods in avoiding management fraud and increasing the quality of financial information, is the notification of qualitative features of financial information, including conservatism characteristic. Although taking a conservatism approach, while boosting the quality of financial information, is able to reduce the informational risk and the cost of capital stock of commercial department, by presenting an improper image about the situation of the commercial department, raises the risk of failure in returning the main and capital interest, and consequently the cost of capital of the commercial department. In order to know if conservatism finally leads to the increase or decrease of the cost of capital or does not have any influence on it, information regarding accepted companies in Tehran stock exchange is utilized by application of pooling method from 2007 to 2012 and it included 124 companies. The results of the study revealed that there is an opposite and meaningful relationship between conditional conservatism and the cost of capital of the company. In other words, if bad and unsuitable news and signs are reflected sooner than good news in accounting profit, the cost of capital of the company increases. In addition, there is a positive and meaningful relationship between the cost of capital and lack of information asymmetry.Keywords: conditional conservatism, lack of information asymmetry, the cost of capital, stock exchange
Procedia PDF Downloads 2573769 Government Credit Card in State Financial Management: Public Sector Innovation in Indonesia
Authors: Paramita Nur Kurniati, Stanislaus Riyanta
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In the midst of the heightened usage of electronic money (e-money), Indonesian government expenditure is yet governed through cash-basis transactions. This conventional system brings about a number of potential risks and obstacles to operational conduct, including state financial liquidity issue. Consequently, Ministry of Finance is currently establishing the cashless payment methods for State Budget (APBN). Included in those advance methods is credit card facility as a government expenditure payment scheme. This policy is one of the innovations within the public sector learned from other countries’ best practices. Moreover, this particular method is already prominent within the private-sector realm. Qualitative descriptive analysis technique is implemented to evaluate the contemporary innovation of using government credit card in the path towards cashless society. This approach is expected to generate several benefits for the government, particularly in minimizing corruption within the state financial management. Effective coordination among policy makers and policy implementers is essential for the success of this policy’s exercise, without neglecting prudence and public transparency aspects. Government credit card usage shall be the potent resolution for enhancing the government’s overall public service performance.Keywords: cashless basis, cashless society, government credit card, public sector innovation
Procedia PDF Downloads 1423768 Damage Assessment of Reinforced Concrete Slabs Subjected to Blast Loading
Authors: W. Badla
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A numerical investigation has been carried out to examine the behaviour of reinforced concrete slabs to uniform blast loading. The aim of this work is to determine the effects of various parameters on the results. Finite element simulations were performed in the non linear dynamic range using an elasto-plastic damage model. The main parameters considered are: the negative phase of blast loading, time duration, equivalent weight of TNT, distance of the explosive and slab dimensions. Numerical modelling has been performed using ABAQUS/Explicit. The results obtained in terms of displacements and propagation of damage show that the above parameters influence considerably the nonlinear dynamic behaviour of reinforced concrete slabs under uniform blast loading.Keywords: blast loading, reinforced concrete slabs, elasto-plastic damage model, negative phase, time duration, equivalent weight of TNT, explosive distance, slab dimensions
Procedia PDF Downloads 5193767 Impact of Depreciation Technique on Taxable Income and Financial Performance of Quoted Consumer Goods Company in Nigeria
Authors: Ibrahim Ali, Adamu Danlami Ahmed
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This study examines the impact of depreciation on taxable income and financial performance of consumer goods companies quoted on the Nigerian stock exchange. The study adopts ex-post factor research design. Data were collected using a secondary source. The findings of the study suggest that, method of depreciation adopted in any organization influence the taxable profit. Depreciation techniques can either be: depressive, accelerative and linear depreciation. It was also recommended that consumer goods should adjust their method of depreciation to make sure an appropriate method is adopted. This will go a long way to revitalize their taxable profit.Keywords: accelerated, linear, depressive, depreciation
Procedia PDF Downloads 2693766 Impact of Interface Soil Layer on Groundwater Aquifer Behaviour
Authors: Hayder H. Kareem, Shunqi Pan
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The geological environment where the groundwater is collected represents the most important element that affects the behaviour of groundwater aquifer. As groundwater is a worldwide vital resource, it requires knowing the parameters that affect this source accurately so that the conceptualized mathematical models would be acceptable to the broadest ranges. Therefore, groundwater models have recently become an effective and efficient tool to investigate groundwater aquifer behaviours. Groundwater aquifer may contain aquitards, aquicludes, or interfaces within its geological formations. Aquitards and aquicludes have geological formations that forced the modellers to include those formations within the conceptualized groundwater models, while interfaces are commonly neglected from the conceptualization process because the modellers believe that the interface has no effect on aquifer behaviour. The current research highlights the impact of an interface existing in a real unconfined groundwater aquifer called Dibdibba, located in Al-Najaf City, Iraq where it has a river called the Euphrates River that passes through the eastern part of this city. Dibdibba groundwater aquifer consists of two types of soil layers separated by an interface soil layer. A groundwater model is built for Al-Najaf City to explore the impact of this interface. Calibration process is done using PEST 'Parameter ESTimation' approach and the best Dibdibba groundwater model is obtained. When the soil interface is conceptualized, results show that the groundwater tables are significantly affected by that interface through appearing dry areas of 56.24 km² and 6.16 km² in the upper and lower layers of the aquifer, respectively. The Euphrates River will also leak water into the groundwater aquifer of 7359 m³/day. While these results are changed when the soil interface is neglected where the dry area became 0.16 km², the Euphrates River leakage became 6334 m³/day. In addition, the conceptualized models (with and without interface) reveal different responses for the change in the recharge rates applied on the aquifer through the uncertainty analysis test. The aquifer of Dibdibba in Al-Najaf City shows a slight deficit in the amount of water supplied by the current pumping scheme and also notices that the Euphrates River suffers from stresses applied to the aquifer. Ultimately, this study shows a crucial need to represent the interface soil layer in model conceptualization to be the intended and future predicted behaviours more reliable for consideration purposes.Keywords: Al-Najaf City, groundwater aquifer behaviour, groundwater modelling, interface soil layer, Visual MODFLOW
Procedia PDF Downloads 1773765 Organization of the Olfactory System and the Mushroom Body of the Weaver Ant, Oecophylla smaragdina
Authors: Rajashekhar K. Patil, Martin J. Babu
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Weaver ants-Oecophylla smaragdina live in colonies that have polymorphic castes. The females which include the queen, major and minor workers are haploid. The individuals of castes are dependent on olfactory cues for carrying out caste-specific behaviour. In an effort to understand whether organizational differences exist to support these behavioural differences, we studied the olfactory system at the level of the sensilla on the antennae, olfactory glomeruli and the Kenyon cells in the mushroom bodies (MB). The MB differ in major and minor workers in terms of their size, with the major workers having relatively larger calyces and peduncle. The morphology of different types of Kenyon cells as revealed by Golgi-rapid staining was studied and the major workers had more dendritic arbors than minor workers. This suggests a greater degree of olfactory processing in major workers. Differences in caste-specific arrangement of sensilla, olfactory glomeruli and celluar architecture of MB indicate a developmental programme that forms basis of differential behaviour.Keywords: ant, oecophylla, caste, mushroom body
Procedia PDF Downloads 4653764 A Review of How COVID-19 Has Created an Insider Fraud Pandemic and How to Stop It
Authors: Claire Norman-Maillet
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Insider fraud, including its various synonyms such as occupational, employee or internal fraud, is a major financial crime threat whereby an employee defrauds (or attempts to defraud) their current, prospective, or past employer. ‘Employee’ covers anyone employed by the company, including contractors, directors, and part time staff; they may be a solo bad actor or working in collusion with others, whether internal or external. Insider fraud is even more of a concern given the impacts of the Coronavirus pandemic, which has generated multiple opportunities to commit insider fraud. Insider fraud is something that is not necessarily thought of as a significant financial crime threat; the focus of most academics and practitioners has historically been on that of ‘external fraud’ against businesses or entities where an individual or group has no professional ties. Without the face-to-face, ‘over the shoulder’ capabilities of staff being able to keep an eye on their employees, there is a heightened reliance on trust and transparency. With this, naturally, comes an increased risk of insider fraud perpetration. The objective of the research is to better understand how companies are impacted by insider fraud, and therefore how to stop it. This research will make both an original contribution and stimulate debate within the financial crime field. The financial crime landscape is never static – criminals are always creating new ways to perpetrate financial crime, and new legislation and regulations are implemented as attempts to strengthen controls, in addition to businesses doing what they can internally to detect and prevent it. By focusing on insider fraud specifically, the research will be more specific and will be of greater use to those in the field. To achieve the aims of the research, semi-structured interviews were conducted with 22 individuals who either work in financial services and deal with insider fraud or work within insider fraud perpetration in a recruitment or advisory capacity. This was to enable the sourcing of information from a wide range of individuals in a setting where they were able to elaborate on their answers. The principal recruitment strategy was engaging with the researcher’s network on LinkedIn. The interviews were then transcribed and analysed thematically. Main findings in the research suggest that insider fraud has been ignored owing to the denial of accepting the possibility that colleagues would defraud their employer. Whilst Coronavirus has led to a significant rise in insider fraud, this type of crime has been a major risk to businesses since their inception, however have never been given the financial or strategic backing required to be mitigated, until it's too late. Furthermore, Coronavirus should have led to companies tightening their access rights, controls and policies to mitigate the insider fraud risk. However, in most cases this has not happened. The research concludes that insider fraud needs to be given a platform upon which to be recognised as a threat to any company and given the same level of weighting and attention by Executive Committees and Boards as other types of economic crime.Keywords: fraud, insider fraud, economic crime, coronavirus, Covid-19
Procedia PDF Downloads 623763 The Effect of Mandatory International Financial Reporting Standards Reporting on Investors' Herding Practice: Evidence from Eu Equity Markets
Authors: Mohammed Lawal Danrimi, Ervina Alfan, Mazni Abdullah
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The purpose of this study is to investigate whether the adoption of International Financial Reporting Standards (IFRS) encourages information-based trading and mitigates investors’ herding practice in emerging EU equity markets. Utilizing a modified non-linear model of cross-sectional absolute deviation (CSAD), we find that the hypothesis that mandatory IFRS adoption improves the information set of investors and reduces irrational investment behavior may in some cases be incorrect, and the reverse may be true. For instance, with regard to herding concerns, the new reporting benchmark has rather aggravated investors’ herding practice. However, we also find that mandatory IFRS adoption does not appear to be the only instigator of the observed herding practice; national institutional factors, particularly regulatory quality, political stability and control of corruption, also significantly contribute to investors’ herd formation around the new reporting regime. The findings would be of interest to academics, regulators and policymakers in performing a cost-benefit analysis of the so-called better reporting regime, as well as financial statement users who make decisions based on firms’ fundamental variables, treating them as significant indicators of future market movement.Keywords: equity markets, herding, IFRS, CSAD
Procedia PDF Downloads 1703762 Testing the Moderating Effect of Sub Ethnic on Household Investment Behaviour
Authors: Widayat Widayat
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Nowday, in the modern investment era, household behavior on investment is a topic that is quite warm. The development of the modern investment, indicated by the emergence of a variety of investment instruments, such as stocks, bonds and various forms of derivatives, affected on the complexity of choosing an investment, especially for traditional societies. Various studies show that there is more than one factor acting as a behavioral antesenden decide to choose an investment instrument. One of the factors, which contribute in determining the investment option is ethnic. Society with a particular sub-culture tend to prefer investing their particular instrument. This is because they have the values, norms and different social environmental. This article is designed to test the impact of sub-cultures between Osing-Java as moderator, in investing. The study was conducted in Banyuwangi, East Java Province of Indonesia. Data were collected using questionnaires, which is given to the head of the household respondents were selected as samples. Sample of households selected by multistage sampling method. The data have been collected processed using SmartPLS software and testing moderating effects using grouped sample test. The result showed that sub-ethnic and has a significant role in determining the investment.Keywords: investment behaviour, household, moderating, sub ethnic
Procedia PDF Downloads 3613761 Serological IgG Testing to Diagnose Alimentary Induced Diseases and Monitoring Efficacy of an Individual Defined Diet in Dogs
Authors: Anne-Margré C. Vink
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Background: Food-related allergies and intolerances are frequently occurring in dogs. Diagnosis and monitoring according to ‘Golden Standard’ of elimination efficiency are time-consuming, expensive, and requires expert clinical setting. In order to facilitate rapid and robust, quantitative testing of intolerance, and determining the individual offending foods, a serological test is implicated. Method: As we developed Medisynx IgG Human Screening Test ELISA before and the dog’s immune system is most similar to humans, we were able to develop Medisynx IgG Dog Screening Test ELISA as well. In this study, 47 dogs suffering from Canine Atopic Dermatitis (CAD) and several secondary induced reactions were included to participate in serological Medisynx IgG Dog Screening Test ELISA (within < 0,02 % SD). Results were expressed as titers relative to the standard OD readings to diagnose alimentary induced diseases and monitoring the efficacy of an individual eliminating diet in dogs. Split sample analysis was performed by independently sending 2 times 3 ml serum under two unique codes. Results: The veterinarian monitored these dogs to check dog’ results at least at 3, 7, 21, 49, 70 days and after period of 6 and 12 months on an individual negative diet and a positive challenge (retrospectively) at 6 months. Data of each dog were recorded in a screening form and reported that a complete recovery of all clinical manifestations was observed at or less than 70 days (between 50 and 70 days) in the majority of dogs(44 out of 47 dogs =93.6%). Conclusion: Challenge results showed a significant result of 100% in specificity as well as 100% positive predicted value. On the other hand, sensitivity was 95,7% and negative predictive value was 95,7%. In conclusion, an individual diet based on IgG ELISA in dogs provides a significant improvement of atopic dermatitis and pruritus including all other non-specific defined allergic skin reactions as erythema, itching, biting and gnawing at toes, as well as to several secondary manifestations like chronic diarrhoea, chronic constipation, otitis media, obesity, laziness or inactive behaviour, pain and muscular stiffness causing a movement disorders, excessive lacrimation, hyper behaviour, nervous behaviour and not possible to stay alone at home, anxiety, biting and aggressive behaviour and disobedience behaviour. Furthermore, we conclude that a relatively more severe systemic candidiasis, as shown by relatively higher titer (class 3 and 4 IgG reactions to Candida albicans), influence the duration of recovery from clinical manifestations in affected dogs. These findings are consistent with our preliminary human clinical studies.Keywords: allergy, canine atopic dermatitis, CAD, food allergens, IgG-ELISA, food-incompatibility
Procedia PDF Downloads 3143760 The Impact of the Interest Rates on Investments in the Context of Financial Crisis
Authors: Joanna Stawska
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The main objective of this article is to examine the impact of interest rates on investments in Poland in the context of financial crisis. The paper also investigates the dependence of bank loans to enterprises on interbank market rates. The article studies the impact of interbank market rate on the level of investments in Poland. Besides, this article focuses on the research of the correlation between the level of corporate loans and the amount of investments in Poland in order to determine the indirect impact of central bank interest rates through the transmission mechanism of monetary policy on the real economy. To achieve the objective we have used econometric and statistical research methods like: econometric model and Pearson correlation coefficient. This analysis suggests that the central bank reference rate inversely proportionally affects the level of investments in Poland and this dependence is moderate. This is also important issue because it is related to preparing of Poland to accession to euro area. The research is important from both theoretical and empirical points of view. The formulated conclusions and recommendations determine the practical significance of the paper which may be used in the decision making process of monetary and economic authorities of the country.Keywords: central bank, financial crisis, interest rate, investments
Procedia PDF Downloads 426