Search results for: investment development path

Authors: Norashikin Ismail, Nadia Anridho

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Sustainable investing is a responsible investment that focuses on Environmental, Social, and Governance (ESG) elements. ESG integration is essential in the investment process as it provides a positive contribution to the corporate performance for stakeholders, specifically investors. Sustainable investing is in line with the objectives of Shariah (Maqasid of Shariah), such as social inclusion as well as environmental preservation. This study attempts to evaluate the impact of ESG elements to the corporate financial performance among Shariah compliant stocks listed in two countries, namely Malaysia and Indonesia. The motivation of this study is to provide a further understanding in corporate sustainability for two different Islamic capital markets. The existence of the FTSE4Good Asean Index has played a vital role for ESG practices and eventually encouraged specific index for ESG and Shariah Compliant stocks. Our sample consists of 60 companies over the period 2010-2020 from two Southeast countries. We employ System Generalized Method of Moments (GMM) to reduce bias and more specific parameter estimation. Shariah Compliant companies tend to have higher ESG scores and are positively correlated to corporate financial performance. ESG integration with Shariah based investing would provide higher returns and lower risks for Muslim investors. Essentially, integrating ESG and Shariah, compliant companies lead to better financial performance.

Keywords: shariah compliant, southeast asia, corporate performance, sustainable investing

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Authors: Juan Pedro Aznar Alarcon, Josep Maria Sayeras Maspera

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Airbnb and other similar platforms are offering a near substitute to the traditional accommodation service supplied by the hotel sector. In this context, hotels can try to compete by offering higher quality and additional services, which imply the need for new investments or try to compete by reducing prices. The theoretical model presented in this paper analyzes the best response using a sequential game theory model. The main conclusion is that due to the financial constraints that small and medium hotels have these hotels have reduced prices whereas hotels that belong to international groups or have an easy access to financial resources have increased their investment to increase the quality of the service provided. To check the validity of the theoretical model financial data from Barcelona, London and Paris hotels have been used analyzing profitability, quality of the service provided, the investment propensity and the evolution of the gross profit. The model and the empirical data provide the base for some industrial policy in the hospitality industry. To address the extra cost that small hotels in Europe have to face compared by bigger firms would help to improve the level of quality provided and to some extent have positive externalities in terms of job creation and an increasing added value for the industry.

Keywords: Airbnb, profitability, hospitality industry, game theory

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Authors: Hashim Zameer

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Effective tourism management plays a vital role in promoting sustainability and supporting ecosystems. A common principle that has been in practice over the years is “first pollute and then clean,” indicating countries need financial resources to promote sustainability. Financial development and the tourism management both seems very important to promoting sustainable development. However, without institutional support, it is very difficult to succeed. In this context, it seems prominently significant to explore how institutional quality, tourism development, and financial development could promote sustainable development. In the past, no research explored the role of tourism development in sustainable development. Moreover, the role of financial development, natural resources, and institutional quality in sustainable development is also ignored. In this regard, this paper aims to investigate the role of tourism development, natural resources, financial development, and institutional quality in sustainable development in China. The study used time-series data from 2000–2021 and employed the Bayesian linear regression model because it is suitable for small data sets. The robustness of the findings was checked using a quantile regression approach. The results reveal that an increase in tourism expenditures stimulates the economy, creates jobs, encourages cultural exchange, and supports sustainability initiatives. Moreover, financial development and institution quality have a positive effect on sustainable development. However, reliance on natural resources can result in negative economic, social, and environmental outcomes, highlighting the need for resource diversification and management to reinforce sustainable development. These results highlight the significance of financial development, strong institutions, sustainable tourism, and careful utilization of natural resources for long-term sustainability. The study holds vital insights for policy formulation to promote sustainable tourism.

Keywords: sustainability, tourism development, financial development, institutional quality

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Authors: Grace Rachid, Mutasem El Fadel, Mahmoud Al Hindi, Ibrahim Jamali, Daniel Abdel Nour

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This study examines the feasibility of indirect solar desalination in oil producing countries in the Middle East and North Africa (MENA) region. It relies on value engineering (VE) and cost-benefit with sensitivity analyses to identify optimal coupling configurations of desalination and solar energy technologies. A comparative return on investment was assessed as a function of water costs for varied plant capacities (25,000 to 75,000 m3/day), project lifetimes (15 to 25 years), and discount rates (5 to 15%) taking into consideration water and energy subsidies, land cost as well as environmental externalities in the form of carbon credit related to greenhouse gas (GHG) emissions reduction. The results showed reverse osmosis (RO) coupled with photovoltaic technologies (PVs) as the most promising configuration, robust across different prices for Brent oil, discount rates, as well as different project lifetimes. Environmental externalities and subsidies analysis revealed that a 16% reduction in existing subsidy on water tariffs would ensure economic viability. Additionally, while land costs affect investment attractiveness, the viability of RO coupled with PV remains possible for a land purchase cost < $ 80/m2 or a lease rate < $1/m2/yr. Beyond those rates, further subsidy lifting is required.

Keywords: solar energy, desalination, value engineering, CBA, carbon credit, subsidies

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Authors: K. V. Venugopalan

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Micro, Small and Medium Enterprises (MSMEs) have been accepted as the engine of economic growth and for promoting equitable development. The major advantage of the sector is its employment potential at low capital cost. The labour intensity of the MSME sector is much higher than that of the large enterprises. The MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports. Kerala is a small state in India with the limited land area with high potential in educated human resources need micro, small and medium enterprises for development. Kerala has the highest Physical Quality of Life Index (PQLI) in India and the highest Human Development Index (HDI) at par with the developed countries SME play an important role in alleviating poverty and contribute significantly towards the growth of developing economies. Financial institutions can play a vital role for the promotion of micro, small and medium enterprises in Kerala. The study entitled “Financial Institutions and its role in the promotion of Small and Medium Enterprises in Kerala “examine the progress of MSME in Kerala and India and also the role of financial institutions and the problems faced by entrepreneurs for getting advances with reference to ‘Kerala Financial Corporation’-an agency set up by the government for promoting small and medium enterprises in the state. This study is based on both secondary and primary data. Primary data for the study was collected from those entrepreneurs who availed advances from financial institutions. The secondary data include the investment made, goods and services provided, the employment generated and the number of units registered in MSME sector for the last 10 years in Kerala. The study concluded that financial institutions providing finance with simple procedures and charging smaller interest rates will increase the number of MSME's and also contribute gross state domestic product and reduce the unemployment problem and poverty in the economy.

Keywords: gross state domestic product, human development index, micro, small and medium enterprises

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Authors: Levan Sabauri

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In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital

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Authors: Owulo Thomas

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Despite Nigeria’s ranking as the 6th among oil producing countries, the country faces great challenges. One of such challenges is how to reduce poverty or eradicating it in the land that promises milk and honey to enhance national development. The government of Nigeria initiated various programmes including the NEEDS programme in which it committed her to meeting these challenges. This paper is an attempt to discuss the concept of National Development, the Nigerian poverty profile and its implication for national development, the NEEDS programmes and the extent to which it has addressed the poverty problem in Nigeria at 53.

Keywords: challenges, poverty, national development, NEEDS programme

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Authors: Salma Aboussalam, Karima Khalil, Khalid Elkalay

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An Ecopath model was employed to investigate the trophic structure, function, and current state of the Moroccan Mediterranean Sea ecosystem. The model incorporated 31 functional groups, including 21 fish species, 7 invertebrates, 2 primary producers, and a detritus group. The trophic interactions among these groups were analyzed, revealing an average trophic transfer efficiency of 23%. The results indicated that the ecosystem produced more energy than it consumed, with high respiration and consumption rates. Indicators of stability and development were low for the Finn cycle index (13.97), system omnivory index (0.18), and average Finn path length (3.09), indicating a disturbed ecosystem with a linear trophic structure. Keystone species were identified through the use of the keystone index and mixed trophic impact analysis, with demersal invertebrates, zooplankton, and cephalopods found to have a significant impact on other groups.

Keywords: Ecopath, food web, trophic flux, Moroccan Mediterranean Sea

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Authors: Theresa Robinson Harris

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Small businesses are important to the United States economy, yet the majority struggle to remain relevant and close before their fifth year. This qualitative study explored small business failure by comparing the experiences of small-business owners to understand their involvement with leadership during the early stages of the business, and the impact of this on the firms’ ability to survive. Participants’ experiences from two groups were compared to glean an understanding of the leadership process, how leadership differs between the groups, and to see what themes or constructs emerged that could help to explain the high failure rate. Leadership was perceived to be important when envisioning a path for the future and when providing a platform for employees to succeed. Those who embraced leadership as a skillset were more likely to get through the challenges of the early developmental years while those ignoring the importance of leadership were more likely to close prematurely. These findings suggest a disconnect with regards to the understanding, role, and benefits of leadership in small organizations, particularly young organizations in the early stages of development.

Keywords: leadership, small business, entrepreneurship, success, failure

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Authors: Poonam Magu, Kumud Khanna, Premavathy Seetharaman

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The two important resources of any worker performing any type of work at any workplace are time and energy. These are important inputs of the worker and need to be utilised in the best possible manner. The kitchen is an important workplace where the homemaker performs many essential activities. Its layout should be so designed that optimum use of her resources can be achieved.Ideally, the shape of the kitchen, as determined by the physical space enclosed by the four walls, can be square, rectangular or irregular. But it is the shape of the arrangement of counter that one normally refers to while talking of the layout of the kitchen. The arrangement can be along a single wall, along two opposite walls, L shape, U shape or even island. A study was conducted in 50 kitchens belonging to middle income group families. These were DDA built kitchens located in North, South, East and West Delhi.The study was conducted in three phases. In the first phase, 510 non working homemakers were interviewed. The data related to personal characteristics of the homemakers was collected. Additional information was also collected regarding the kitchens-the size, shape , etc. The homemakers were also questioned about various aspects related to meal preparation-people performing the task, number of items cooked, areas used for meal preparation , etc. In the second phase, a suitable technique was designed for conducting time and motion study in the kitchen while the meal was being prepared. This technique was called Path Process Chart. The final phase was carried out in 50 kitchens. The criterion for selection was that all items for a meal should be cooked at the same time. All the meals were cooked by the homemakers in their own kitchens. The meal preparation was studied using the Path Process Chart technique. The data collected was analysed and conclusions drawn. It was found that of all the shapes, it was the kitchen with L shape arrangement in which, on an average a homemaker spent minimum time on meal preparation and also travelled the minimum distance. Thus, the average distance travelled in a L shaped layout was 131.1 mts as compared to 181.2 mts in an U shaped layout. Similarly, 48 minutes was the average time spent on meal preparation in L shaped layout as compared to 53 minutes in U shaped layout. Thus, the L shaped layout was more time and energy saving layout as compared to U shaped.

Keywords: kitchen layout, meal preparation, path process chart technique, workplace

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Authors: Eli Maikoto Agison

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The relevance of enhancing human resource development in entrepreneurship for economic growth and development cannot be overemphasized since no country can grow and developed economically above its citizenry. Africa for example and Nigeria in particular is lagging behind in terms of economic growth and development when compared with other developed countries of the world like China, Japan, Singapore, USA etc. The reason is not farfetched from these developed countries efforts in enhancing human resource development in entrepreneurship education. For Nigeria to attain this height of development, this paper discusses the meaning of human resource development in entrepreneurship as the framework for helping employees develop their personal and organizational skills knowledge and abilities as this includes employee training, career development and performance management to enable an organization achieve a set goal. While entrepreneurship education is seen as an aspect of education that is geared towards self-reliance, some of the challenges faced in the enhancement of human resource development in Nigeria include inadequate training and re-training of instructors of entrepreneurship in higher education. Insufficient funding to higher education were discussed and recommendations to include adequate funding, training and re-training of instructors of higher education be enhanced as some of the ways forward.

Keywords: economic development, economic growth, entrepreneurship education, human resource development

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Authors: Zohreh Bang Tavakoli, Shuktika Chatterjee

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This study investigates the fiscal policy impact on countries’ economic growth in developing countries with a different external debt level. The fiscal policy effectiveness has been re-emphasized in the global financial crisis of 2008 with the external debt as its new contemporary driver (Ruščáková and Semančíková, 2016). According to Bouakez, (2014 ) different theories have proposed the economic consequence of fiscal policy, specifically for developing countries. However, fiscal policy literature is lacking research regarding the fiscal policy’s effectiveness with the external debt’s contributions through comprehensive study (Canh, 2018). Also, according to scholars, high levels of external debt will influence economic growth. First, through foreign resources and channel of investment in which high level of debt decreases the amount of foreign investment in the developing countries. Second, through the deterioration of foreign investors and fiscal policies related to a high level of debt (Cordella, et.al., 2010). Therefore, this study proposed that only countries with a low external debt level and appropriate fiscal policies and good quality institutions can gain the proper quantity and quality of foreign investors, which will help the economic growth. For this, this research is examining the impact of fiscal policy on developing countries' economic growth in the situation of different external debt levels.

Keywords: fiscal policy, external debt, gross domestic product, developing countries

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Authors: Hamid Reza Behnood, Esmaeel Ayati, Tom Brijs, Mohammadali Pirayesh Neghab

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Investment projects in road safety planning can benefit from an effectiveness evaluation regarding their expected safety outcomes. The objective of this study is to develop a decision support system (DSS) to support policymakers in taking the right choice in road safety planning based on the efficiency of previously implemented safety measures in a set of regions in Iran. The measures considered for each region in the study include performance indicators about (1) police operations, (2) treated black spots, (3) freeway and highway facility supplies, (4) speed control cameras, (5) emergency medical services, and (6) road lighting projects. To this end, inefficiency measure is calculated, defined by the proportion of fatality rates in relation to the combined measure of road safety performance indicators (i.e., road safety measures) which should be minimized. The relative inefficiency for each region is modeled by the Data Envelopment Analysis (DEA) technique. In a next step, a fuzzy decision-making system is constructed to convert the information obtained from the DEA analysis into a rule-based system that can be used by policy makers to evaluate the expected outcomes of certain alternative investment strategies in road safety.

Keywords: performance indicators, road safety, decision support system, data envelopment analysis, fuzzy reasoning

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Authors: G. Khasaev, S. Ashmarina , A. Zotova

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The priority of Russian enterprises development has been given to the optimization process of industrial enterprise activity for their sustainable development in a long-term period. The assessment of sustainable development level as one of the most efficient instruments of sustainable development management at the industrial enterprise gives a complex view of its state. In order to perform accurate analysis of the current state of the industrial enterprise, it is necessary to perform the assessment of its sustainable development and using its results to elaborate the further tactic of enterprise functioning. The assessment of sustainable development level of the enterprise may help the effective management of strategy development only if the corresponding indicators system is created. The elaboration and usage the sustainable development indicators allows the enterprise to implement analysis of its activity results and monitoring of sustainable enterprise functioning. The authors’ methods are based on general aspects of the industrial enterprise functioning such as finance, customers, inner economic process, and staff system.

Keywords: assessment methods, indicators system, industrial enterprise, sustainable development

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Authors: Hatun Korkmaz

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Todays, the developing countries of the world widely face challenges of economic growth, political, social and human development. One of the ways to achieve economic, political and human development is good governance. Without an improvement in good governance, the objectives of human development cannot be achieved. The good governance has become a key issue over preceding two decades and it is the very important component of good economic growth and human development. This paper argues that good governance impacts positively human development with the case of Rwanda. Rwanda is a good example of this subject. In this paper, firstly we explained that what is good governance and human development and how we measure them. Then we researched the relationship between good governance and human development in case of Rwanda with the indexes of many international institutions which are researching in this topics. Rwanda has recorded the 'best progress' since the year 2000, making it the ‘most successful' about governance. Rwanda is seen as one of the top ten countries in the region in terms of relative peace, political stability and economic progress. Part of the reason for Rwanda's success is accountability, which comprises access to information, elimination of corruption and bureaucracy and transparency in public service, which variables cumulatively earned it 72.1 percent. According to this research If countries want batter growth and human development then good reforms of good governance is needed.

Keywords: human development, Rwanda, good governance, governance, development

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Authors: Mentor Sulollari

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Albania, according to (UNU-EHS) United Nations University, Institute for Environment and Human Security studies for 2015, is listed as the number one country in Europe for the possibility to be caught by natural catastrophes. This is conditioned by unstudied human activity, which has seriously damaged the environment. Albanian part of Ohrid graben that lies in Southeast of Albania, is endangered by landslides and floods, as a result of uncontrolled urban development and low level of investment in infrastructure, rugged terrain in its western part and capricious climate caused by global warming. To be dealt with natural disasters, which cause casualties and material damage, it is important to study them in order to anticipate and reduce damages in future. As part of this study is the construction of natural hazards map, which show us where they are distributed, and which are the vulnerable areas. This article will also be dealing with socio-economic and environmental costs of those events and what are the measures to be taken to reduce them.

Keywords: flooding, landslides, natural catastrophes mapping, Pogradec, lake Ohrid, Albanian part of Ohrid graben

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Authors: Khodijah Ismail, Elfindri

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Tourism development have many environmental, economically and sociocultural benefits. Small islands have a lot of potential for marine tourism development. But, stereotype gender issues still dominate the social and cultural life of rural communities that have an impact on the gap in benefits of local development. The purpose of this study is to found development strategy concept of marine tourism in small islands gender-based. This study found in the marine tourism development of small islands not involved women, from planning to monitor marine tourism development in small islands. It's affects to the low of socio-economic of women in the coastal village and small islands. This condition is not advantage for sustainable development of marine tourism in small islands. Therefore, strengthening of livelihood assets by gender based through the marine tourism development in small islands is very important to attention, that women can contributed to household welfare, bargaining positioned in social culture was better and increase broad access to local government development policies. To realize it requires the full support of the government and relevant stakeholders through gender empowerment and strengthening of accessibility, connectivity, regulation, and design institution.

Keywords: gender inequality, marine tourism, development, tourism management

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Authors: Mingke Ma

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The recent discovery of the High-Income Trap phenomena and the established Middle-Income Trap literature have identified the similarity of the structural challenges that both Mainland China and Taiwan have been facing since the simultaneous growth slowdown from the 2000s. Mainland China and Taiwan’s ineffectiveness in productivity growth weakened their overall competitiveness in Global Value Chains. With the subsequent decline of industrial profitability, social compression from late development persists and jeopardises the social cohesion. From Ma Ying-jeou’s ‘633’ promise and Tsai Ing-wen’s ‘5+2’ industrial framework to Mainland China’s 11th to 14th Five-Year Plans, leaderships across the Strait have been striving to constitute new models for inclusive and sustainable development through policy responses. This study argues that social consensuses that have been constructed by the domestic political processes define the feasibility of the reform strategies, which further construct the conditions for Cross-Strait interactions. Based on the existing literature of New Institutional Economics, Middle/High Income Trap, and Compressed Development, this study adopts a Historical Institutionalist analytical framework to identify how the historical path-dependency contributes to the contemporary growth constraints in both economies and the political difficulty on navigating the institutional and Organisational change. It continues by tracing the political process of economic reform to examine the sustainability and resilience of the manifested social consensus that had empowered the proposed policy frameworks. Afterwards, it examines how the political outcomes in such a simultaneous process shared by both Mainland China and Taiwan construct the social, economic, institutional, and political foundations of contemporary Cross-Strait engagement.

Keywords: historical institutionalism, political economy, cross-strait relations, high/middle income trap

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Authors: Sara Nosari

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In the research field on adult education, the learning development project followed different itineraries: recently it has promoted adult transformation by practices focused on the reflexive oriented interaction. This perspective, that connects life stories and life-based methods, characterizes a transformative space between formal and informal education. Within this framework, in the Nursing Degree Courses of Turin University, it has been discussed and realized a formal reflexive path on the care work professional identity through group practices. This path compared the future care professionals with possible experiences staged by texts used with the function of a pre-tests: these texts, setting up real or believable professional situations, had the task to start a reflection on the different 'elements' of care work professional life (relationship, educational character of relationship, relationship between different care roles; or even human identity, aims and ultimate aim of care, …). The learning transformative aspect of this kind of experience-test is that it is impossible to anticipate the process or the conclusion of reflexion because they depend on two main conditions: the personal sensitivity and the specific situation. The narrated experience is not a device, it does not include any tricks to understand the answering advance; the text is not aimed at deepening the knowledge, but at being an active and creative force which takes the group to compare with problematic figures. In fact, the experience-text does not have the purpose to explain but to problematize: it creates a space of suspension to live for questioning, for discussing, for researching, for deciding. It creates a space 'open' and 'in connection' where each one, in comparing with others, has the possibility to build his/her position. In this space, everyone has to possibility to expose his/her own argumentations and to be aware of the others emerged points of view, aiming to research and find the own personal position. However, to define his/her position, it is necessary to learn to exercise character skills (conscientiousness, motivation, creativity, critical thinking, …): if these not-cognitive skills have an undisputed evidence, less evident is how to value them. The paper will reflect on the epistemological limits and possibility to 'measure' character skills, suggesting some evaluation criteria.

Keywords: transformative learning, educational role, formal/informal education, character-skills

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Authors: Yansong Gao, Damith C.Ranasinghe, Siad F. Al-Sarawi, Omid Kavehei, Derek Abbott

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Passive crossbar arrays is in principle the simplest functional electrical circuit, together with memristive device in cross-point, holding great promise in future high-density, non-volatile memories. However, the greatest problem of crossbar array is the sneak path current. In this paper, we investigate one type of memristive device with intrinsic rectification behavior to address the sneak path currents. Firstly, a SPICE behavior model written in Verilog-A language of the memristive device is presented to fit experimental data published in literature. Next, systematic performance simulations including read margin and power consumption of crossbar array, which uses the self-rectifying memristive device as storage element at cross-point, with respect to different crossbar sizes, interconnect resistance, ratio of HRS/LRS (High Resistance State/ Low Resistance State), rectification ratio and different read schemes are conducted. Subsequently, Trade-offs among reading margin, power consumption, and reading schemes are analyzed to provide guidelines for circuit design. Finally, performance comparison between the memristive device with/without intrinsic rectification behavior is given to show the worthiness of this intrinsic rectification behavior.

Keywords: memristive device, memristor, crossbar, RRAM, read margin, power consumption

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Authors: Huang Yong, Chen Qianting, Zhao Shurong

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In order to identify the role and effect of Characteristic Towns as an important means to promote urban-rural integration, this paper uses Flow Theory and complex network analysis methods to jointly construct the identification path of urban-rural integration capabilities of Characteristic Towns. Take the National Characteristic Towns of Yunnan Province as the empirical objects to identify their role laws. The study found that in the implementation of the National Characteristic Town Project in Yunnan Province, (1) the population is more susceptible to the impact of the Characteristic Town Project than the technical elements, but the stability is poor; (2) The flow capacity of urban and rural technical elements is weak, and the quality of the enterprise cooperation network in general; (3) Compared with the batch of Characteristic Towns in 2016, its ability to promote urban-rural integration is higher in 2017; (4) The role of the Characteristic Town Project on urban-rural integration focuses on the improvement of the number of urban and rural flow elements. This paper analyzes the mode of the role of Characteristic Towns on urban-rural integration from the perspective of ‘flow,’ establishes a research paradigm for evaluating the role of Characteristic Towns in urban-rural integration capabilities, and builds a path for the application of Characteristic Towns to support the realization of urban-rural integration goals.

Keywords: characteristic town, urban-rural integration, flow theory, complex network analysis

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Authors: Stefano Pelaggi

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The research is focused on youth labor and mobility in Berlin. Mobility has become a common denominator in our daily lives but it does not primarily move according to monetary incentives. Labor, knowledge and leisure overlap on this point as cities are trying to attract people who could participate in production of the innovations while the new migrants are experiencing the lifestyle of the host cities. The research will present the project of empirical study focused on Italian workers in the digital industry in Berlin, trying to underline the connection between pleasure, leisure with the choice of life abroad. Berlin has become the epicenter of the European Internet start-up scene, but people suitable to work for digital industries are not moving in Berlin to make a career, most of them are attracted to the city for different reasons. This point makes a clear exception to traditional migration flows, which are always originated from a specific search of employment opportunities or strong ties, usually families, in a place that could guarantee success in finding a job. Even the skilled migration has always been originated from a specific need, finding the right path for a successful professional life. In a society where the lack of free time in our calendar seems to be something to be ashamed, the actors of youth mobility incorporate some categories of experiential tourism within their own life path. Professional aspirations, lifestyle choices of the protagonists of youth mobility are geared towards meeting the desires and aspirations that define leisure. While most of creative work places, in particular digital industries, uses the category of fun as a primary element of corporate policy, virtually extending the time to work for the whole day; more and more people around the world are deciding their path in life, career choices on the basis of indicators linked to the realization of the self, which may include factors like a warm climate, cultural environment. All indicators that are usually eradicated from the hegemonic approach to labor. The interpretative framework commonly used seems to be mostly focused on a dualism between Florida's theories and those who highlight the absence of conflict in his studies. While the flexibility of the new creative industries is minimizing leisure, incorporating elements of leisure itself in work activities, more people choose their own path of life by placing great importance to basic needs, through a gaze on pleasure that is only partially driven by consumption. The multi localism is the co-existence of different identities and cultures that do not conflict because they reject the bind on territory. Local loses its strength of opposition to global, with an attenuation of the whole concept of citizenship, territory and even integration. A similar perspective could be useful to search a new approach to all the studies dedicated to the gentrification process, while studying the new migrations flow.

Keywords: brain drain, digital industry, leisure and gentrification, multi localism

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Authors: Francys Souza, Alberto Ohashi, Dorival Leao

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We present a general solution for finding the ε-optimal controls for non-Markovian stochastic systems as stochastic differential equations driven by Brownian motion, which is a problem recognized as a difficult solution. The contribution appears in the development of mathematical tools to deal with modeling and control of non-Markovian systems, whose applicability in different areas is well known. The methodology used consists to discretize the problem through a random discretization. In this way, we transform an infinite dimensional problem in a finite dimensional, thereafter we use measurable selection arguments, to find a control on an explicit form for the discretized problem. Then, we prove the control found for the discretized problem is a ε-optimal control for the original problem. Our theory provides a concrete description of a rather general class, among the principals, we can highlight financial problems such as portfolio control, hedging, super-hedging, pairs-trading and others. Therefore, our main contribution is the development of a tool to explicitly the ε-optimal control for non-Markovian stochastic systems. The pathwise analysis was made through a random discretization jointly with measurable selection arguments, has provided us with a structure to transform an infinite dimensional problem into a finite dimensional. The theory is applied to stochastic control problems based on path-dependent stochastic differential equations, where both drift and diffusion components are controlled. We are able to explicitly show optimal control with our method.

Keywords: dynamic programming equation, optimal control, stochastic control, stochastic differential equation

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Authors: Ese Urhie, Olabisi Popoola, Obindah Gershon

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Several policies and programs initiated to address the challenge of unemployment in Nigeria seem to be inadequate. The desired structural transformation which is expected to absorb the excess labour in the economy is yet to be achieved. The agricultural sector accounts for almost half of the labour force with very low productivity. This could partly explain why the much anticipated structural transformation has not been achieved. A major reason for the low productivity is the fact that the production process is predominantly based on the use of traditional tools. In view of the underdeveloped nature of the agricultural sector, Nigeria still has huge potentials for productivity enhancement through modern technology. Aside from productivity enhancement, modern agriculture also stimulates both backward and forward linkages that promote investment and thus generate employment. Contrary to the apprehension usually expressed by many stake-holders about the adoption of modern technology by labour-abundant less-developed countries, this study showed that though there will be job loss initially, the reverse will be the case in the long-run. The outcome of this study will enhance the understanding of all stakeholders in the sector and also encourage them to adopt modern techniques of farming. It will also aid policy formulation at both sectoral and national levels. The recursive model and analysis adopted in the study is useful because it exhibits a unilateral cause-and-effect relationship which most simultaneous equation models do not. It enables the structural equations to be ordered in such a way that the first equation includes only predetermined variables on the right-hand side, while the solution for the final endogenous variable is completely determined by all equations of the system. The study examines the transmission channels and effect of modern agriculture on agricultural productivity and employment growth in Nigeria, via its forward and backward linkages. Using time series data spanning 1980 to 2014, the result of the analyses shows that: (i) a significant and positive relationship between agricultural productivity growth and modern agriculture; (ii) a significant and negative relationship between export price index and agricultural productivity growth; (iii) a significant and positive relationship between export and investment; and (iv) a significant and positive relationship between investment and employment growth. The unbalanced growth theory will be a good strategy to adopt by developing countries such as Nigeria.

Keywords: employment, modern agriculture, productivity, recursive model

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Authors: Dušan Bojović, Wei Huang, Zdravko Stojanović, Jovan Ilić

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In an era of ever-growing electricity generation from renewable energy sources, namely wind and solar, a need for reliable energy storage and intensive balancing of the electric power system gains significance. For decades, pump storage hydroelectric power plants have proven to be an important asset regarding the storage of generated electricity. However, with the increasing overall share of wind and solar in electric systems at large, the importance of electric grid stability keeps growing. A large pump storage project, the Bistrica Pump Storage Plant (PSP), is currently under development in Serbia. The Bistrica PSP will be designed as a 600+ MW power plant, which is envisaged as a significant contributor to the Serbian power grid stability as more and more renewable energy sources are implemented over time. PSP Bistrica is seen as a strategically important project on the green agenda path of the Electric Power Industry of Serbia as a necessary pre-condition for the safe implementation of other renewable energy sources. The importance of such a plant would also play an important role in reducing the electricity production from coal, i.e., thermoelectric power plants. During the project’s development, various techniques and technologies are evaluated for the purpose of determining the optimum (the most profitable) solution. Over the course of this paper, these technologies – such as frequency-regulated pump turbines and ternary sets will be presented, with a detailed explanation of their possible application within the Bistrica PSP project and their relative advantages/disadvantages in this particular case.

Keywords: hydraulic turbines, pumped storage, renewable energy, competing technologies

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Authors: Cansu Tari, Ute Poerschke

Abstract:

Sustainable campus design and planning in Higher Education requires an entire action plan and coordination of physical, educational, and social systems. Many institutions in the world are defining their sustainable development path and some are following existing green building and sustainable campus rating/ranking systems, guidelines. In the context of higher education, Turkish universities have limited academic, social and financial support related to sustainable living, building, and campus studies. While some research has been conducted in the last 60 years by farsighted academics, most of these works are based on individuals’ or small organizations’ own interests and efforts, and they are not known enough by the population of universities and possible prospective investors. Regarding the recent fast and uncontrolled growth in the Turkish Higher Education environment, setting a campus sustainability indicator set is a necessity for sustainable development of universities. The main objective of this paper is to specify the applicable sustainability indicators in the national context of Turkey, and propose a model guideline for sustainable Turkish university campuses. The analysis of Turkish legislation on environmental issues, special conditions of Turkish Higher Education system, and Turkey’s environmental risks and challenges set the backbone of the study and distinguish the set of indicators from generalized guidelines. Finally, the paper outlines some concrete suggestions for Turkish Universities to integrate sustainability efforts in their regional context. It will be useful for campus sustainability managers and planners, interested in developing action plans in their national and regional scope.

Keywords: campus sustainability, sustainability indicators, Turkish universities, national campus sustainability action plan

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Authors: Aluisius Pratono, Deddy Marciano, Suyanto Suyanto

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The emerging model of community development social enterprise is one of the social enterprise models. However, a precise view of the community development enterprise is still lacking. Hence, this study was aimed at deepening the concept of the community development social enterprise model at the place management and development context. Multiple case studies in Indonesia context were observed to explore the typical criteria of the community development enterprise model in place-making practices. The research paradigm used interpretative approach, which involves dialectic process between the researchers and research participants. This study highlights some principles in the community-development enterprise, which cover an entrepreneurial dimension, social goals, participatory governance, and co-management. The result makes a contribution to conceptual literature occurs at the criteria of social enterprises by highlighting the typology of community development enterprise.

Keywords: community development enterprise, social purposes, economic project, participatory governance

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Authors: Fadeke E. Olu-Owolabi, Fayomi Oluyemi

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The political and societal orders face the awesome task of overcoming the difficulties which lead to growing tensions and conflicts in Africa. At the core of analysis is the question, how stable and adaptable are established democracies, new democracies, and political and societal actors? The idea of development-democracy as implying the strong linkage between economic development and political democracy appropriately describes the distinguishing characteristic of this new demand for democracy in Africa. The theoretical study examines the political and philosophical foundation of the idea of development-democracy and the arguments presented to support the need for its adoption in Africa today. This paper critically examines the polemic between the advocates of developmental dictatorship and developmental-democracy and argues for the adoption of the latter in Africa. The paper sets out to expose for the political and philosophical foundation of developmental democracy maintaining that only democracy can facilitate development. This argument is supported further by the claim that both democracy and development are two sides of the same coin in the sense that the two are both ethical concepts. The paper also maintained that the only way by which democracy is worthwhile is when it is developmental. Finally the paper affirms that since the two concepts of democracy and development are like the Siamese twins then the way out of Africa’s present crisis of development is to wholeheartedly embrace democracy. It posits that when genuine democracy is adopted, genuine and sustainable development can then be attained.

Keywords: democracy, development, polemic, principles

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Authors: Rutuja Rajendra Ghadage

Abstract:

Villages surrounding the city undergo the process of peri urbanization, which transforms their original village character. These villages undergo fast and unplanned physical growth and development. Due to the expansion of urban activities, peri-urban villages are experiencing extensive changes. Focusing on the peri-urban villages of Baramati city in Maharashtra, India, this paper assesses the nature and extent of spatial development and identifies the factors contributing to the rapid development of eleven sample Peri-urban villages. After reviewing similar studies, four indicators are selected to assess the spatial development of peri-urban villages; 1) population, 2) road network, 3) land use landcover change, and 4) built-up distribution. The spatial development of peri-urban villages of Baramati is uneven as few villages are still expanding or growing while few villages have started intensifying. The main factor for this development is the presence of industries and educational institutions. They have affected spatial development directly as well as indirectly. In the future, most of the peri-urban villages of Baramati will be in the intensification phase, so if this happens in an unplanned manner, it will create stress on services and facilities.

Keywords: factors and indicators of spatial development, peri urban villages, peri urbanization, spatial development

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Authors: Oluwalola Felicia Kikelomo

Abstract:

The introduction of entrepreneurship education in polytechnics is seen as a measure to reduce the rate of unemployment and strategically position the economy for sustainable development in Nigeria. This paper discusses the roles of polytechnics in entrepreneurship development. It also examines the challenges of entrepreneurship education in Polytechnics. The paper recommends, among others, that the entrepreneurship education should be property funded by the government with the support of non-governmental organizations so that there would be adequate resources to organize and manage the education. In addition, drastic and serious awareness campaigns should be mounted to sensitize the public and the students on the need for entrepreneurship education.

Keywords: education, polytechnic entrepreneurship development, education, human development

Procedia PDF Downloads 523