Search results for: traditional financial systems

Authors: Valliyil Govindankutty

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Human civilizations across the globe stand testimony to water being one of the major interaction points with nature. The interactions with nature especially in drier areas revolve around water, be it harnessing, transporting, usage and management. Many ingenious ideas were born, nurtured and developed for harnessing, transporting, storing and distributing water through the areas in the drier parts of the world. Many methods of water extraction, collection and management could be found throughout the world, some of which are associated with efficient, sustained use of surface water, ground water and rain water. Karez is one such ingenious method of collection, transportation, storage and distribution of ground water. Most of the Karez systems in India were developed during reign of Muslim dynasties with ruling class descending from Persia or having influential connections and inviting expert engineers from there. Karez have strongly influenced the village socio-economic organisations due to multitude of uses they were brought into. These are masterpiece engineering structures to collect groundwater and direct it, through a subsurface gallery with a gradual slope, to surface canals that provide water to settlements and agricultural fields. This ingenious technology, karez was result of need for harnessing groundwater in arid areas like that of Bidar. The study views this traditional technology in historical perspective linked to sustainable utilization and management of groundwater and above all the immediate environment. The karez system is one of the best available demonstration of human ingenuity and adaptability to situations and locations of water scarcity. Bidar, capital of erstwhile Bahmani sultanate with a history of more than 700 years or more is one of the heritage cities of present Karnataka State. The unique water systems of Bidar along with other historic entities have been listed under World Heritage Watch List by World Monument Fund. The Historical or cultural landscape in Bidar is very closely associated to the natural resources of the region, Karez systems being one of the best examples. The Karez systems were the lifeline of Bidar’s historical period providing potable water, fulfilling domestic and irrigation needs, both within and outside the fort enclosures. These systems are still functional, but under great pressure and threat of rapid and unplanned urbanisation. The change in land use and fragmentation of land are already paving way for irreversible modification of the karez cultural and geographic landscape. The Paper discusses the significance of character defining elements of Naubad Karez Landscape, highlights the importance of conserving cultural heritage and presents a geographical approach to its revival.

Keywords: Karez, groundwater, traditional water harvesting, cultural heritage landscape, urban planning

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Authors: Joshua Fogel, Rivka Herzog

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Although direct-to-consumer prescription medication advertisements (DTCA) are viewed or heard in many venues, there does not appear to be any research for internet social media DTCA. We study the association of traditional media DTCA and digital media DTCA including internet social media of YouTube, Facebook, and Twitter with three different outcomes. There was one intentions outcome and two different behavior outcomes. The intentions outcome was the agreement level for seeking additional information about a prescription medication after seeing a DTCA. One behavior outcome was the agreement level for obtaining additional information about a prescription medication after seeing a DTCA. The other behavior outcome was the frequency level for obtaining additional information about a prescription medication after seeing a DTCA. Surveys were completed by 635 college students. Predictors included demographic variables, theory of planned behavior variables, health variables, and advertisements seen or heard. Also, in the behavior analyses, additional predictors of intentions and sources for seeking additional prescription drug information were included. Multivariate linear regression analyses were conducted. We found that increased age was associated with increased behavior, women were associated with increased intentions, and Hispanic race/ethnicity was associated with decreased behavior. For the theory of planned behavior variables, increased attitudes were associated with increased intentions, increased social norms were associated with increased intentions and behavior, and increased intentions were associated with increased behavior. Very good perceived health was associated with increased intentions. Advertisements seen in spam mail were associated with decreased intentions. Advertisements seen on traditional or cable television were associated with decreased behavior. Advertisements seen on television watched on the internet were associated with increased behavior. The source of seeking additional information of reading internet print content was associated with increased behavior. No internet social media advertisements were associated with either intentions or behavior. In conclusion, pharmaceutical brand managers and marketers should consider these findings when tailoring their DTCA advertising campaigns and directing their DTCA advertising budget towards young adults such as college students. They need to reconsider the current approach for traditional television DTCA and also consider dedicating a larger advertising budget toward internet television DTCA. Although internet social media is a popular place to advertise, the financial expenditures do not appear worthwhile for DTCA when targeting young adults such as college students.

Keywords: brand managers, direct-to-consumer advertising, internet, social media

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Authors: Ahmed Torad

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Background: Knee osteoarthritis (OA) is a prevalent musculoskeletal condition characterized by pain and functional impairment. While various rehabilitation approaches have been employed, the effectiveness of high-intensity interval training (HIIT) compared to traditional rehabilitation exercises remains unclear. Objective: This randomized controlled trial aimed to compare the effects of HIIT and traditional rehabilitation exercises on pain reduction, functional improvement, and quality of life in individuals with knee OA. Methods: A total of 120 participants diagnosed with knee OA were randomly allocated into two groups: the HIIT group (n=60) and the traditional rehabilitation group (n=60). The HIIT group participated in a 12-week supervised program consisting of high-intensity interval exercises, while the traditional rehabilitation group followed a conventional physiotherapy regimen. Outcome measures included visual analog scale (VAS) pain scores, Western Ontario and McMaster Universities Osteoarthritis Index (WOMAC), and the Short Form-36 Health Survey (SF-36) at baseline and after the intervention period. Results: Both groups showed significant improvements in pain scores, functional outcomes (WOMAC), and quality of life (SF-36) after 12 weeks of intervention. However, the HIIT group demonstrated superior pain reduction (p<0.001), functional improvement (p<0.001), and physical health-related quality of life (p=0.002) compared to the traditional rehabilitation group. No significant differences were observed in mental health-related quality of life between the two groups. Conclusion: High-intensity interval training appears to be a more effective rehabilitation approach than traditional exercises for individuals with knee osteoarthritis, resulting in greater pain reduction, improved function, and enhanced physical health-related quality of life. These findings suggest that HIIT may represent a promising intervention strategy for managing knee OA and enhancing the overall well-being of affected individuals.

Keywords: knee osteoarthritis, high-intensity interval training, traditional rehabilitation exercises, randomized controlled trial, pain reduction, functional improvement, quality of life

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Authors: Yasaman Azarmjoo

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Since ancient times, it has been said that mathematics is the mother of all sciences and the foundation of basic concepts in every field and profession. It would be great if, after learning this subject, we could enable students to create games and activities based on the same mathematical concepts. This article explores the design of various mathematical activities in the form of games, utilizing different mathematical topics such as algebra, equations, binary systems, and one-to-one correspondence. The theoretical significance of this article lies in uncovering alternative approaches to teaching and learning mathematics. By employing creative and interactive methods such as game design, it challenges the traditional perception of mathematics as a difficult and laborious subject. The theoretical significance of this article lies in demonstrating that mathematics can be made more accessible and enjoyable, which can result in heightened interest and engagement in the subject. In general, this article reveals another aspect of mathematics.

Keywords: playing with mathematics, algebra and equations, binary systems, one-to-one correspondence

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Authors: L. Spencer, S. O’ Donohoe

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Much of the research to date on internationalisation relates to large firms with much less known about how small and medium-sized enterprises (SMEs) engage in internationalisation. Given the crucial role of SMEs in contributing to economic growth, there is now an emphasis on the need for SMEs internationalise. Yet little is known about how SMEs undertake and finance such expansion and whether or not internationalisation actually hinders or helps them in securing finance. The purpose of this research is to explore the internationalisation process for SMEs, the sources of funding used in financing this expansion and support received from the state agencies in assisting their overseas expansion. A conceptual framework has been devised which marries the two strands of literature together (internationalisation and financing the firm). The exploratory nature of this research dictates that the most appropriate methodology was to use semi-structured interviews with SME owners; bank representatives and support agencies. In essence, a triangulated approach to the research problem facilitates assessment of the perceptions and experiences from firms, the state and the financial institutions. Our sample is drawn from SMEs operating in Ireland and Scotland, two small but very open economies where SMEs are the dominant form of organisation. The sample includes a range of industry sectors. Key findings to date suggest some SMEs are born global; others are born again global whilst a significant cohort can be classed as traditional internationalisers. Unsurprisingly there is a strong industry effect with firms in the high tech sector more likely to be faster internationalisers in contrast to those in the traditional manufacturing sectors. Owner manager’s own funds are deemed key to financing initial internationalisation lending support for the financial growth life cycle model albeit more important for the faster internationalisers in contrast to the slower cohort who are more likely to deploy external sources especially bank finance. Retained earnings remain the predominant source of on-going financing for internationalising firms but trade credit is often used and invoice discounting is utilised quite frequently. In terms of lending, asset based lending backed by personal guarantees appears paramount for securing bank finance. Whilst the lack of diversified sources of funding for internationalising SMEs was found in both jurisdictions there appears no evidence to suggest that internationalisation impedes firms in securing finance. Finally state supports were cited as important to the internationalisation process, in particular those provided by Enterprise Ireland were deemed very valuable. Considering the paucity of studies to date on SME internationalisation and in particular the funding mechanisms deployed by them; this study seeks to contribute to the body of knowledge in both the international business and finance disciplines.

Keywords: funding, government support, international pathways, modes of entry

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Authors: Wasfi Al Salamat, Shaker Al-Kharouf

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This study aims to examine the determinants of financial stability for 13 commercial banks listed on the Amman stock exchange (ASE) over the period (2007-2016) after controlling for the independent variables: return on equity (ROE), return on assets (ROA), earnings per share (EPS), growth in gross domestic product (GDP), inflation rate and debt ratio to measure the financial stability by three main variables: capital adequacy, non-performing loans and the number of returned checks. The balanced panel data statistical approach has been used for data analysis. Results are estimated by using multiple regression models. The empirical results suggested that there is statistically significant negative effect of inflation rate and debt ratio on the capital adequacy while there is statistically significant positive effect of growth in gross domestic product on capital adequacy. In contrast, there is statistically significant negative effect of return on equity and growth in gross domestic product on the non-performing loans while there is statistically significant positive effect of inflation rate on non-performing loans. Finally, there is statistically significant negative effect of growth in gross domestic product on the number of returned checks while there is statistically significant positive effect of inflation rate on the number of returned checks.

Keywords: capital adequacy, financial stability, non-performing loans, number of returned checks, ASE

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Authors: Jenan Abu Qadourah

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With the depletion of traditional fossil resources and the growing human population, it is now more important than ever to reduce our energy usage and harmful emissions. In the Mediterranean region, the intense solar radiation contributes to summertime overheating, which raises energy costs and building carbon footprints, alternatively making it suitable for the installation of solar energy systems. In urban settings, where multi-story structures predominate and roof space is limited, photovoltaic integrated shading devices (PVSD) are a clean solution for building designers. However, incorporating photovoltaic (PV) systems into a building's envelope is a complex procedure that, if not executed correctly, might result in the PV system failing. As a result, potential PVSD design solutions must be assessed based on their overall energy performance from the project's early design stage. Therefore, this paper aims to investigate and compare the possible impact of various PVSDs on the energy performance of new apartments in the Mediterranean region, with a focus on Amman, Jordan. To achieve the research aim, computer simulations were performed to assess and compare the energy performance of different PVSD configurations. Furthermore, an energy index was developed by taking into account all energy aspects, including the building's primary energy demand and the PVSD systems' net energy production. According to the findings, the PVSD system can meet 12% to 43% of the apartment building's electricity needs. By highlighting the potential interest in PVSD systems, this study aids the building designer in producing more energy-efficient buildings and encourages building owners to install PV systems on the façade of their buildings.

Keywords: photovoltaic integrated shading device, solar energy, architecture, energy performance, simulation, overall energy index, Jordan

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Authors: Amir Hossein Ashari, Sedighe Erfan Manesh

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When investigating Iranian traditional and historical urban development, such as that seen in Shiraz, our attention is drawn to mosques as a focal point. Vakil Mosque in Shiraz is completely consistent, coordinated and integrated with the Bazaar, square and school. This is a significant example of traditional urban development. The position of the mosque in the most important urban joint near bazaar in a way that it is considered part of the bazaar structure are factors that have given it social, political, and economic roles in addition to the original religious role. These are among characteristics of sustainable development. The mosque has had an important effect in formation of the city because it is connected to main gates. In terms of access, the mosque has different main and peripheral access paths from different parts of the city. The courtyard of the mosque was located next to the main elements of the city so that it was considered as an urban open space, which made it a more active and more dynamic place. This study is carried out via library and field research with the purpose of finding strategies for taking advantage of useful features of the mosque in traditional urban development. These features include its role as a gathering center for people and city in sustainable urban development. Mosque can be used as a center for enhancing social interactions and creating a sense of association that leads to sustainable social space. These can act as a model which leads us to sustainable cities in terms of social and economic factors.

Keywords: mosque, traditional urban development, sustainable social space, Vakil Mosque, Shiraz

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Authors: Soumya Pugal

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The traditional lake system of an ancient town is a network of water holding blue spaces, erected further than 2000 years ago by the rulers of ancient cities and maintained for centuries by the original communities. These blue spaces form a micro-watershed wherein an individual tank has its own catchment, tank bed area, and command area. These lakes are connected by a common sluice from the upstream tank, thereby feeding the downstream tank. The lakes used to be of socio-economic significance in those times, but the rapid growth of the city, as well as the change in systems of ownership of the lakes, have turned them into the backyard of urban development. Madurai is one such historic city to be facing the issues of finding a balance to the social, ecological, and profitable requirements of the people with respect to the traditional lake system. To find a solution to problems caused by the neglect of vital ecological systems of a city, the theory of transformative placemaking through water sensitive urban design has been explored. This approach re-invents the relationship between the people and the urban lakes to suit the modern aspirations while respecting the environment. The thesis aims to develop strategies to guide the development along the major urban lake of Vandiyur to equip the lake to meet the growing requirements of the megacity in terms of its recreational requirements and give a renewed connection between people and water. The intent of the design is to understand the ecological and social structures of the lake and find ways to use the lake to produce social cohesion within the community and balance the city's profitable and ecological requirements by using transformative placemaking through water sensitive urban design..

Keywords: urban lakes, urban blue spaces, placemaking, revitalisation of lakes, urban cohesion

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Authors: Shailender Kumar

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Current health policy pronouncements in India advocate for insurance-based financing mechanism to achieve universal health coverage (UHC), while undermine the role of comprehensive healthcare provision system. UHC is achieved when all people receive the health services they need without suffering financial hardship. This study, using 68th & 71st NSS rounds data, examines their relative and combined strength in achieving the above objective. Health-insurance has been unsuccessful in reducing prevalence and catastrophic effects of out-of-pocket payment and even dismantle the effectiveness of traditional way of health financing system. Healthcare provision is the best way forward to enhance health and well-being of households in condition if India removes existing inadequacies and inequalities in service provision across districts/states and ensure free/low cost medicines/diagnostics to the citizens.

Keywords: health policy, demand-side financing, supply-side financing, incidence of health payment

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Authors: Marek Mejstřík, Radim Matula, Martin Šrámek

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Traditional coppices and coppice-with-standards were widely used throughout Europe and Asia for centuries but were largely abandoned in the second half of the 19th century, especially in central and northwestern Europe. In the last decades, there has been a renewed interest in traditional coppicing for nature conservation and most often, for rapid woody biomass production. However, there is little information on biomass productivity of traditional coppices and what affects it. Here, we focused on the effects of stand density, standards and tree species composition on sprout biomass production in newly restored coppices in the Czech Republic. We measured sprouts and calculated sprout biomass 7 years after the harvest from 2013 resprouting stumps in two 4 ha experimental plots. Each plot was divided into 64 subplots with different densities of standards and sprouting stumps. Total sprout biomass declined with increasing density of standards, but the effect of standards differed significantly among studied species. Whereas increasing density of standards decreased sprout biomass in Quercus petraea and Carpinus betulus, it did not affect sprout biomass productivity in Acer campestre and Tilia cordata. Sprout biomass on stand-level increased linearly with an increasing number of sprouting stumps and we observed no leveling of this relationship even in the highest densities of stumps. We also found a significant shift in tree species composition with the steeply declining relative abundance of Quercus in favor of other studied tree species.

Keywords: traditional coppice, coppice with standards, sprout biomass, forest management

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Authors: Wanda Luen-Wun Siu, Xiaowen Zhang

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This paper offered the primary methodical proof on how CSR reporting related to enterprise earnings in listed firms in China in light of most evidence focusing on cross-sectional data or data in a short span of time. Using full economic and business panel data on China’s publicly listed enterprise from 2006 to 2020 over two decades in the China Stock Market and Accounting Research database, we found initial evidence of significant direct relations between CSR reporting and firm corporate performance in both state-owned and privately owned firms over this period, supporting the stakeholder theory. Results also revealed that state-owned enterprises performed as well as private enterprises in the current period. But private enterprises performed better than state-owned enterprises in the subsequent years. Moreover, the release of social responsibility reports had a more significant impact on the financial performance of state-owned and private enterprises in the current period than in the subsequent periods. Specifically, CSR release was not significantly associated with the financial performance of state-owned enterprises on the lag of the first, second, and third periods. But it had an impact on the lag of the first, second, and third periods among private enterprises. Such findings suggested that CSR reporting helped improve the corporate financial performance of state-owned and private enterprises in the current period, but this kind of effect was more significant among private enterprises in the lag periods.

Keywords: China’s listed firms, CSR reporting, financial performance, panel analysis

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Authors: Moanaro Ao, Nzanthung Ngullie

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Municipal solid waste management (MSWM) has unique challenges in hilly urban settlements. Efforts have been taken by municipalities, private players, non-governmental organizations, etc. for managing solid waste by preventing its generation, reusing, and recovering them into useful products to the extent possible, thereby minimizing its impact on the environment and human health. However, there are many constraints that lead to inadequate management of solid waste. Kohima is an unplanned hill station city in the North Eastern Region of India. The city is facing numerous issues due to the mismanagement of the MSW generated. Kohima Municipal Council (KMC) is the Urban Local Body (ULB) responsible for providing municipal services. The present MSWM system in Kohima comprises of collection, transportation, and disposal of waste without any treatment. Several efforts and experimental projects on waste management have been implemented without any success. Waste management in Kohima city is challenging due to its remote location, difficult topography, dispersed settlements within the city, sensitive ecosystem, etc. Furthermore, the narrow road network in Kohima with limited scope for expansion, inadequate infrastructure facilities, and financial constraints of the ULB add up to the problems faced in managing solid waste. This hill station also has a unique system of traditional local self-governance. Thus, shifting from a traditional system to a modern system in implementing systematic and scientific waste management is also a challenge in itself. This study aims to analyse the existing situation of waste generation, evaluate the effectiveness of the existing management system of MSW, and evolve a strategic approach to achieve a sustainable and resilient MSWM system. The results from the study show that a holistic approach, including social aspects, technical aspects, environmental aspects, and financial aspects, is needed to reform the MSWM system. Stringent adherence to source segregation is required by encouraging public participation through awareness programs. Active involvement of community-based organizations (CBOs) has brought a positive change in sensitizing the public. A waste management model was designed to be adopted at a micro-level such as composting household biodegradable waste and incinerator plants at the community level for non-biodegradable waste. Suitable locations for small waste stations were identified using geographical information system (GIS) tools for waste recovery and recycling. Inculcating the sense of responsibility in every waste generator towards waste management by implementing incentive-based strategies at the Ward level was explored. Initiatives based on the ‘polluters pay principle’ were also explored to make the solid waste management model “self-sustaining”.

Keywords: municipal solid waste management, public participation, source segregation, sustainable

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Authors: M. Dakshayini, P. Jayarekha

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In traditional output-based education system, class room lecture and laboratory are the traditional delivery methods used during the course. Written examination and lab examination have been used as a conventional tool for evaluating student’s performance. Hence, there are certain apprehensions that the traditional education system may not efficiently prepare the students for competent professional life. This has led for the change from Traditional output-based education to Outcome-Based Education (OBE). OBE first sets the ideal programme learning outcome consecutively on increasing degree of complexity that students are expected to master. The core curriculum, teaching methodologies and assessment tools are then designed to achieve the proposed outcomes mainly focusing on what students can actually attain after they are taught. In this paper, we discuss a promising applications based learning and evaluation component involving industry collaboration to improve the quality of teaching and student learning process. Incorporation of this component definitely improves the quality of student learning in engineering education and helps the student to attain the competency as per the graduate attributes. This may also reduce the Industry-academia gap.

Keywords: outcome-based education, programme learning outcome, teaching-learning process, evaluation, industry collaboration

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Authors: Sani AbdulRahman Bala

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This empirical study delves into the realm of forensic accounting practices within the Nigerian Public Sector, seeking to quantitatively analyze their efficacy in addressing the persistent challenges of fraud and financial irregularities. With a focus on empirical data, this research employs a robust methodology to assess the current state of fraud in the Nigerian Public Sector and evaluate the performance of existing forensic accounting measures. Through quantitative analyses, including statistical models and data-driven insights, the study aims to identify patterns, trends, and correlations associated with fraudulent activities. The research objectives include scrutinizing documented fraud cases, examining the effectiveness of established forensic accounting practices, and proposing data-driven strategies for enhancing fraud detection and prevention. Leveraging quantitative methodologies, the study seeks to measure the impact of technological advancements on forensic accounting accuracy and efficiency. Additionally, the research explores collaborative mechanisms among government agencies, regulatory bodies, and the private sector by quantifying the effects of information sharing on fraud prevention. The empirical findings from this study are expected to provide a nuanced understanding of the challenges and opportunities in combating fraud within the Nigerian Public Sector. The quantitative insights derived from real-world data will contribute to the refinement of forensic accounting strategies, ensuring their effectiveness in addressing the unique complexities of financial irregularities in the public sector. The study's outcomes aim to inform policymakers, practitioners, and stakeholders, fostering evidence-based decision-making and proactive measures for a more resilient and fraud-resistant financial governance system in Nigeria.

Keywords: fraud, financial irregularities, nigerian public sector, quantitative investigation

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Authors: Murad A. Bein

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This paper empirically examines the time-varying relationship and spillover effects between the international crude oil price and ten emerging equity markets, namely three oil-exporting countries (Brazil, Mexico, and Russia) and seven Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, and Slovakia). The results revealed that there are spillover effects from oil markets into almost all emerging equity markets save Slovakia. Besides, the oil supply glut had a homogenous effect on the emerging markets, both net oil-exporting, and oil-importing countries (CEE). Further, the time variance drastically increased during financial turmoil. Indeed, the time variance remained high from 2009 to 2012 in response to aggregate demand shocks (global financial crisis and Eurozone debt crisis) and quantitative easing measures. Interestingly, the time variance was slightly higher for the oil-exporting countries than for some of the CEE countries. Decision-makers in emerging economies should therefore seek policy coordination when dealing with financial turmoil.

Keywords: crude oil, spillover effects, emerging equity, time-varying, aggregate demand shock

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Authors: Thamo Sutharssan, Diogo Montalvao, Wen-Chung Wang, Yong Chen, Claudia Pisac

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A combined heat and power (CHP) system is an efficient and clean way to generate power (electricity). Heat produced by the CHP system can be used for water and space heating. The CHP system which uses hydrogen as fuel produces zero carbon emission. Its’ efficiency can reach more than 80% whereas that of a traditional power station can only reach up to 50% because much of the thermal energy is wasted. The other advantages of CHP systems include that they can decentralize energy generation, improve energy security and sustainability, and significantly reduce the energy cost to the users. This paper presents the economic benefits of using a CHP system in the domestic environment. For this analysis, natural gas is considered as potential fuel as the hydrogen fuel cell based CHP systems are rarely used. UK government incentives for CHP systems are also considered as the added benefit. Results show that CHP requires a significant initial investment in return it can reduce the annual energy bill significantly. Results show that an investment may be paid back in 7 years. After the back period, CHP can run for about 3 years as most of the CHP manufacturers provide 10-year warranty.

Keywords: combined heat and power, clean energy, hydrogen fuel cell, economic analysis of CHP, zero emission

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Authors: Apedzan Emmanuel Kighir

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This research investigates dividends smoothing among non-financial companies trading on the Nigerian Stock Exchange in an era of unclaimed dividends from 2004 to 2013. There has been a raging controversy among Regulatory Authorities, Company Executives, Registrars of Companies, Shareholders and the general public regarding the increasing incidence of unclaimed dividends in Nigeria. The objective of this study is to find out if corporate earnings management through dividends smoothing is implicated in unclaimed dividends among Nigerian non-financial firms. The research used panel data and employed Generalized Method of Moment as method of analysis. The research finds evidence of dividends-smoothing in this era of unclaimed dividends in Nigeria. The research concludes that dividends-smoothing is a trigger and red flag for unclaimed dividends, an output of earnings management. If earnings management and hence unclaimed dividends in Nigeria is allowed to continue, it will lead to great consequences to the investors and corporate policy of government. It is believed that the research will assist investors and government in making informed decisions regarding dividends policy in Nigeria.

Keywords: dividends smoothing, non financial companies, Nigerian stock exchange, unclaimed dividends, corporate earnings management

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Authors: Joelle Thng, Li Fang

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Objective: As programming becomes a highly valued and sought-after skill in the economy, many universities have started offering Python courses to help students keep up with the demands of employers. This study focuses on designing a university module that effectively educates undergraduate students on financial analysis using Python programming. Methodology: To better satisfy the specific demands for each sector, this study adopted a qualitative research modus operandi to craft a module that would complement students’ existing financial skills. The lessons were structured using research-backed educational learning tools, and important Python concepts were prudently screened before being included in the syllabus. The course contents were streamlined based on criteria such as ease of learning and versatility. In particular, the skills taught were modelled in a way to ensure they were beneficial for financial data processing and analysis. Results: Through this study, a 6-week course containing the chosen topics and programming applications was carefully constructed for finance students. Conclusion: The findings in this paper will provide valuable insights as to how teaching programming could be customised for students hailing from various academic backgrounds.

Keywords: curriculum development, designing effective instruction, higher education strategy, python for finance students

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Authors: Sameer Jung Karki, Gokhan Saygili

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The allowable bearing capacity of foundation systems is determined by applying a factor of safety to the ultimate bearing capacity. Conventional ultimate bearing capacity calculations routines are based on deterministic input parameters where the nonuniformity and inhomogeneity of soil and site properties are not accounted for. Hence, the laws of mathematics like probability calculus and statistical analysis cannot be directly applied to foundation engineering. It’s assumed that the Factor of Safety, typically as high as 3.0, incorporates the uncertainty of the input parameters. This factor of safety is estimated based on subjective judgement rather than objective facts. It is an ambiguous term. Hence, a probabilistic analysis of the bearing capacity of an isolated footing on a clayey soil is carried out by using the Monte Carlo Simulation method. This simulated model was compared with the traditional discrete model. It was found out that the bearing capacity of soil was found higher for the simulated model compared with the discrete model. This was verified by doing the sensitivity analysis. As the number of simulations was increased, there was a significant % increase of the bearing capacity compared with discrete bearing capacity. The bearing capacity values obtained by simulation was found to follow a normal distribution. While using the traditional value of Factor of safety 3, the allowable bearing capacity had lower probability (0.03717) of occurring in the field compared to a higher probability (0.15866), while using the simulation derived factor of safety of 1.5. This means the traditional factor of safety is giving us bearing capacity that is less likely occurring/available in the field. This shows the subjective nature of factor of safety, and hence probability method is suggested to address the variability of the input parameters in bearing capacity equations.

Keywords: bearing capacity, factor of safety, isolated footing, montecarlo simulation

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Authors: Khaldoon G. Albitar, Hassan Y. Kikhia, Jin P. Zhang

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Since 2007, all companies listed on both Shanghai Stock Exchange and Shenzhen Stock Exchange are required to prepare their consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). This study investigates the impact of adopting IFRS on accounting quality for a sample of listed on Chinese companies during the period 2003-2013 with sample of 10846 observations over a four-year period before and a five-year period after the adoption of IFRS. This study tests whether the level of earnings management is significantly lower after the adoption of IFRS, and reported earnings is more value relevant during the IFRS period by using the Ohlson model and Jones model, as modified by Dechow. The empirical results show that accounting quality improved with lower earnings management and higher value relevant after the adoption of IFRS in China. The current study contributes to the literature on IFRS adoption and earning quality in two ways. First, As most of the existing studies on earnings quality and IFRS have been conducted on data from the U.S and European countries, this study fills a gap in the existing literature by studying the effect of adoption of IFRS on earnings quality in an emerging market. Second, the findings of our study have important implications for policymakers, auditors, multinational firms, and users of financial reports. As the rapid growth of China's economy gains global recognition, the Chinese stock market is capturing the attention of international investor.

Keywords: international financial reporting standards (ifrs), accounting quality, earnings management, value relevance, china

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Authors: Antonia Müller, Svend Reuse

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The Brexit referendum in June 2016 led to different publications analysing potential consequences for European and British insurance companies under the European Passport. This study addresses a research gap, regarding the measures taken by insurance companies based in the United Kingdom and thus on structural changes to the European insurance market by an innovative structured Solvency and Financial Condition Report content analysis. In scope are all insurance companies based in the United Kingdom, that fall under the Solvency II supervisory regime. The results show that the majority of British Solvency II insurance companies in scope, conducting cross-border business to the European Union, have applied and reported measures to be able to continue operating this cross-border business after Brexit. In addition, the study shows that 34 new insurance companies based in the European Union were established as a result of Brexit, indicating structural changes to the European insurance market.

Keywords: brexit, europe, insurance market, solvency and financial condition repot, structural changes

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Authors: Ahmad Mohsin, Irfan Raza Naqvi, Syda Fatima Usamn

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Applications with higher fault tolerance index are considered more reliable and trustworthy to drive quality. In recent years application development has been shifted from traditional desktop and web to native and hybrid application(s) for the web and mobile platforms. With the emergence of Internet of things IOTs, cloud and big data trends, the need for measuring Fault Tolerance for these complex nature applications has increased to evaluate their performance. There is a phenomenal gap between fault tolerance metrics development and measurement. Classic quality metric models focused on metrics for traditional systems ignoring the essence of today’s applications software, hardware & deployment characteristics. In this paper, we have proposed simple metrics to measure fault tolerance considering general requirements for Web and Mobile Applications. We have aligned factors – subfactors, using GQM for metrics development considering the nature of mobile we apps. Systematic Mathematical formulation is done to measure metrics quantitatively. Three web mobile applications are selected to measure Fault Tolerance factors using formulated metrics. Applications are then analysed on the basis of results from observations in a controlled environment on different mobile devices. Quantitative results are presented depicting Fault tolerance in respective applications.

Keywords: web and mobile applications, reliability, fault tolerance metric, quality metrics, GQM based metrics

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Authors: Lubica Hikkerova, Jean-Michel Sahut

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Environmental protection remains a global challenge but, since 2012, there has been a progressive decline in corporate engagement in environmental protection issues. This study seeks to investigate the role of financial capacity and governance in improving the level of environmental engagement of companies. The regression technique is applied to data on 351 large European companies from the ASSET4-ESG database for the 2007-2015 period. Firstly, the results show that the companies in the sample are fairly engaged in environmental protection, with a strong dispersion representing nearly four times the average. This means that the companies in the sample do not share the same level of engagement in matters of environmental protection, some being more committed than others. Secondly, the results reveal that the financial capacity of the company, as assessed through its indicators, has a significant effect on its level of environmental protection engagement in the present sample. This effect is more positive the higher the profits the company makes, and more negative the more heavily indebted or, the higher the rates of dividends it pays per share. Lastly, the results also show that a better quality of governance plays an important role in the decision to undertake actions leading to environmental protection. More specifically, the degree of management implication in the running of the business, the respect of the rights of the shareholders, the effectiveness of the control exerted by the board of directors, and, to a lesser extent, the independence of the audit committee, are variables which have a positive and significant influence on the level of environmental engagement of companies.

Keywords: financial capacity, corporate governance, environmental engagement, stakeholder theory, theory of organizational legitimacy, theory of resources and capabilities

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Authors: Siyu Bu, Jie Wang, Yajing Jiang

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Nowadays, villages still occupying 94.7% of the national territorial area (almost nine million square kilometers) of China. Some of them are meeting urbanization and grow as satellite; however, others are witnessing more and more citizens swarming into with nostalgia, seek enjoyment from the beautiful green countryside. In villages, new types of house come and we see billions of old houses lay unused, or even be dying at every second, which cause a lot of 'bad palaces', decadent and dangerous. In this context, there are lots of tries for gearing villages in China. This article deconstructs the traditional village house to excavate its’ landscape potential for future. By research in CunWei Village, Nanping City, Fujian Province, China, a method of reconstruction of old houses comes out: the wreckage will be a strong landscape, showing the great beauty of nature. It will be a better use of the old material as well as the space pattern. It was supposed to gain a juxtaposition of traditional village life and modern social life by offering possibilities of multiple event, replacing the bad space to attractive one by strengthen the old structures without destroy traditional patterns. Furthermore , this method acts as an exploring for building redefinition of village landscape that fit Chinese villages, using local nature resource and traditional construction logic.

Keywords: juxtaposition, replace, village, ruins

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Authors: Sujit Kumar, Anita Surroch

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Indian culture, religions, literature and philosophy has attracted attention of the scholars across the globe since time immemorial. They endeavoured to interpret these dimensions as per their comprehension of Indian Society. The present paper is an attempt to portray a critical analysis of traditional bases of Indian Society as articulated by the great Indians who immensely contributed by shaping, practicing and passing these sub-systems on to the successive generations. India was endowed with a class of intellectuals par excellence during ancient times that traversed lengths and breaths of the country, interacted with the people, understood their capabilities & limitations and needs and churned such knowledge with their fellow beings. It witnessed an era of emergence of Varnashrama, Purushartha, Dharma and Sanskara system. Mention of Varna system in the Purush hymn of Rigveda, Vrihadyaranyak Upnishda. Shantiparva of Mahabharata, the Gita and the interpretations offered by Lord Krishna, Bhrigua Rishi, Yudhishtra and philosophers of modern times give a glimpse of macro level division of labour in ancient Indian Society. The Ashrama system, the four stages of life as referred to in Upnishdas (Chandogaya, Jawali) Sutras (Vashisht Dharma Sutra, Gautma Dharma Sutra), Smritis (Manusmiriti) and four step ladder described by Ved Vyasa is a comprehensive scheme of harmonious development of physical, mental and spiritual capabilities of human beings during different stages of life. The Purushartha, the four broad duties (Dharama, Artha, Kama & Moksha) of human being, lays emphasis on discharging duties as per ones Varna, Ashrama and also keeping in view the time, space and circumstances. Sanskaras are methods and a process to purify mind, body and soul. Today, one gets refraction (not reflection as shades of beliefs, customs practices and interpretations of Varnashrama, Purushartha, Dharma and Sanskara in letter and spirit has undergone changes) of such traditional bases from the writings of Indologists and other scholars.

Keywords: intellectuals, Rigveda, Sanskaras, traditional

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Authors: Pascal Horni, Sandro Fuchs

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In presence of increasing deficits and public debt among OECD countries, the debate on fiscal disciple and mechanisms to constrain public spending policy heated up and gave rise to the institutionalization of fiscal rules. Considering the notions from political economy literature and the therein advocated axiom of maximization of votes, introduction of institutional mechanisms and rules to govern public spending is likely to be coined by electoral motives. While there exists a series of research concerned with the rise of creative accounting in the presence fiscal rules, implementation of accrual government accounting and its impact on the biting of fiscal rules has to authors’ best knowledge never been explored. This paper serves the illumination of the connection between debt break mechanisms and the adoption of accrual public sector accounting standards such as the IPSAS in the interface of political economy in the Swiss context. By explicitly considering the technical accounting dimension, this paper develops an integrated conceptual view on well-established Public Financial Management (PFM) institutions and elaborates how their interdependencies can co-create value with regard to the contemporary challenge of fiscal sustainability. Derivation of this integrated view follows an explorative approach, taking into account expert interviews with director level staff from cantonal finance administrations and policy documents, as well as literature from both research areas – public sector accounting and political economy.

Keywords: accounting, fiscal rules, International Public Sector Accounting Standards (IPSAS), public financial management

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Authors: Negar Sartipzadeh

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Energy-conscious design, which coordinates with the Earth ecological systems during its life cycle, has the least negative impact on the environment with the least waste of resources. Due to the increasing in world population as well as the consumption of fossil fuels that cause the production of greenhouse gasses and environmental pollution, mankind is looking for renewable and also sustainable energies. The Iranian native construction is a clear evidence of energy-aware designing. Our predecessors were forced to rely on the natural resources and sustainable energies as well as environmental issues which have been being considered in the recent world. One of these endless energies is wind energy. Iranian traditional architecture foundations is a appropriate model in solving the environmental crisis and the contemporary energy. What will come in this paper is an effort to recognition and introduction of the unique characteristics of the Iranian architecture in the application of aerodynamic and hydraulic energies derived from the wind, which are the most common and major type of using sustainable energies in the traditional architecture of Iran. Therefore, the recent research attempts to offer a hybrid system suggestions for application in new constructions designing in a region such as Nashtifan, which has potential through reviewing windmills and how they deal with sustainable energy sources, as a model of Iranian native construction.

Keywords: renewable energy, sustainable building, windmill, Iranian architecture

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Authors: S. Lemoussu, J. C. Chaudemar, R. A. Vingerhoeds

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The aeronautics sector is currently living an unprecedented growth largely due to innovative projects. In several cases, such innovative developments are being carried out by Small and Medium sized-Enterprises (SMEs). For instance, in Europe, a handful of SMEs are leading projects like airships, large civil drones, or flying cars. These SMEs have all limited resources, must make strategic decisions, take considerable financial risks and in the same time must take into account the constraints of safety, cost, time and performance as any commercial organization in this industry. Moreover, today, no international regulations fully exist for the development and certification of this kind of projects. The absence of such a precise and sufficiently detailed regulatory framework requires a very close contact with regulatory instances. But, SMEs do not always have sufficient resources and internal knowledge to handle this complexity and to discuss these issues. This poses additional challenges for those SMEs that have system integration responsibilities and that must provide all the necessary means of compliance to demonstrate their ability to design, produce, and operate airships with the expected level of safety and reliability. The final objective of our research is thus to provide a methodological framework supporting SMEs in their development taking into account recent innovation and institutional rules of the sector. We aim to provide a contribution to the problematic by developing a specific Model-Based Systems Engineering (MBSE) approach. Airspace regulation, aeronautics standards and international norms on systems engineering are taken on board to be formalized in a set of models. This paper presents the on-going research project combining Systems Engineering and Project Management process modeling and taking into account the metamodeling problematic.

Keywords: aeronautics, certification, process modeling, project management, SME, systems engineering

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Authors: Rajkumar Ghosh, Ananya Mukhopadhyay

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India has seen enormous urbanization in recent years, resulting in increased energy consumption and water demand in its metropolitan regions. Adoption of grid-connected solar rooftop systems and rainwater collection has gained significant popularity in urban areas to address these challenges while also boosting sustainability and environmental consciousness. Grid-connected solar rooftop systems offer a long-term solution to India's growing energy needs. Solar panels are erected on the rooftops of residential and commercial buildings to generate power by utilizing the abundant solar energy available across the country. Solar rooftop systems generate clean, renewable electricity, reducing reliance on fossil fuels and lowering greenhouse gas emissions. This is compatible with India's goal of reducing its carbon footprint. Urban residents and companies can save money on electricity by generating their own and possibly selling excess power back to the grid through net metering arrangements. India gives several financial incentives (subsidies 40% for system capacity 1 kW to 3 kW) to stimulate the building of solar rooftop systems, making them an economically viable option for city dwellers. India provides subsidies up to 70% to special states such as Uttarakhand, Sikkim, Himachal Pradesh, Jammu & Kashmir, and Lakshadweep. Incorporating solar rooftops into urban infrastructure contributes to sustainable urban expansion by alleviating pressure on traditional energy sources and improving air quality. Incorporating solar rooftops into urban infrastructure contributes to sustainable urban expansion by alleviating demand on existing energy sources and improving power supply reliability. Rainwater harvesting is another key component of India's sustainable urban development. It comprises collecting and storing rainwater for use in non-potable water applications such as irrigation, toilet flushing, and groundwater recharge. Rainwater gathering 2 helps to conserve water resources by lowering the demand for freshwater sources. This technology is crucial in water-stressed areas to ensure a sustainable water supply. Excessive rainwater runoff in metropolitan areas can lead to Urban flooding. Solar PV system with Rooftop Rainwater harvesting systems absorb and channel excess rainwater, which helps to reduce flooding and waterlogging in Smart cities. Rainwater harvesting systems are inexpensive and quick to set up, making them a tempting option for city dwellers and businesses looking to save money on water. Rainwater harvesting systems are now compulsory in several Indian states for specified types of buildings (bye law, Rooftop space ≥ 300 sq. m.), ensuring widespread adoption. Finally, grid-connected solar rooftop systems and rainwater collection are important to India's long-term urban development. They not only reduce the environmental impact of urbanization, but also empower individuals and businesses to control their energy and water requirements. The G20 summit will focus on green financing, fossil fuel phaseout, and renewable energy transition. The G20 Summit in New Delhi reaffirmed India's commitment to battle climate change by doubling renewable energy capacity. To address climate change and mitigate global warming, India intends to attain 280 GW of solar renewable energy by 2030 and Net Zero carbon emissions by 2070. With continued government support and increased awareness, these strategies will help India develop a more resilient and sustainable urban future.

Keywords: grid-connected solar PV system, rooftop rainwater harvesting, urban flood, groundwater, urban flooding, net zero carbon emission

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