Search results for: wealth and financial independence

Authors: Uzoma Emmanuel Igboji

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The study investigates the effects of cash flow position on corporate performance in the manufacturing sector of Nigeria, using multiple regression techniques. The study involved a survey of five (5) manufacturing companies quoted on the Nigerian Stock Exchange. The data were obtained from the annual reports of the selected companies under study. The result shows that operating and financing cash flow have a significant positive relationship with corporate performance, while investing cash flow position have a significant negative relationship. The researcher recommended that the regulatory authorities should encourage external auditors of these quoted companies to use cash flow ratios in evaluating the performance of a company before expressing an independent opinion on the financial statement. The will give detailed financial information to existing and potential investors to make informed economic decisions.

Keywords: cash flow, financing, performance, operating

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Authors: Walid Chkili

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This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Marco Sewald

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Due to the current enforcement of exterritorial U.S. legislation, up to 9 million U.S. (dual) citizens residing abroad are subject to U.S. double and surcharge taxation and at risk of losing access to otherwise basic financial services and investment opportunities abroad. The United States is the only OECD country that taxes non-resident citizens, lawful permanent residents and other non-resident aliens on their worldwide income, based on local U.S. tax laws. To enforce these policies the U.S. has implemented ‘saving clauses’ in all tax treaties and implemented several compliance provisions, including the Foreign Account Tax Compliance Act (FATCA), Qualified Intermediaries Agreements (QI) and Intergovernmental Agreements (IGA) addressing Foreign Financial Institutions (FFIs) to implement these provisions in foreign jurisdictions. This policy creates systematic cases of double and surcharge taxation. The increased enforcement of compliance rules is creating additional report burdens for U.S. persons abroad and FFIs accepting such U.S. persons as customers. FFIs in Europe react with a growing denial of specific financial services to this population. The numbers of U.S. citizens renouncing has dramatically increased in the last years. A case study is chosen as an appropriate methodology and research method, as being an empirical inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used. This evaluative approach is testing whether the combination of policies works in practice, or whether they are in accordance with desirable moral, political, economical aims, or may serve other causes. The research critically evaluates the financial and non-financial consequences and develops sufficient strategies. It further discusses these strategies to avoid the undesired consequences of exterritorial U.S. legislation. Three possible strategies are resulting from the use cases: (1) Duck and cover, (2) Pay U.S. double/surcharge taxes, tax preparing fees and accept imposed product limitations and (3) Renounce U.S. citizenship and pay possible exit taxes, tax preparing fees and the requested $2,350 fee to renounce. While the first strategy is unlawful and therefore unsuitable, the second strategy is only suitable if the U.S. citizen residing abroad is planning to move to the U.S. in the future. The last strategy is the only reasonable and lawful way provided by the U.S. to limit the exposure to U.S. double and surcharge taxation and the limitations on financial products. The results are believed to add a perspective to the current academic discourse regarding U.S. citizenship based taxation, currently dominated by U.S. scholars, while providing sufficient strategies for the affected population at the same time.

Keywords: citizenship based taxation, FATCA, FBAR, qualified intermediaries agreements, renounce U.S. citizenship

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Authors: Udeh Nneka Evelyn

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The shortcomings of traditional costing system, in terms of validity, accuracy, consistency and relevance increased the need for modern management accounting system. ABC (Activity-Based Costing) can be used as a modern tool for planning, control and decision making for management. Past studies on activity-based costing (ABC) system have focused on manufacturing firms thereby making the studies on service firms scanty to some extent. This paper reviewed the application and relevance of activity-based costing techniques in service oriented business organisations by employing a qualitative research method which relied heavily on literature review of past and current relevant articles focusing on activity-based costing (ABC). Findings suggest that ABC is not only appropriate for use in a manufacturing environment; it is also most appropriate for service organizations such as financial institutions, the healthcare industry, and government organizations. In fact, some banking and financial institutions have been applying the concept for years under other names. One of them is unit costing, which is used to calculate the cost of banking services by determining the cost and consumption of each unit of output of functions required to deliver the service. ABC in very basic terms may provide very good payback for businesses. Some of the benefits that relate directly to the financial services industry are: Identification of the most profitable customers; more accurate product and service pricing; increase product profitability; well-organized process costs.

Keywords: profitability, activity-based costing (ABC), management accounting, manufacture

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Authors: Roberto M. G. Velásquez, Jonas R. Gazoli, Nelson Ponce Jr, Valério L. Borges, Alessandro Sete, Fernanda M. C. Tomé, Julian D. Hunt, Heitor C. Lira, Cristiano L. de Souza, Fabio T. Bindemann, Wilmar Wounnsoscky

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Nowadays, society is working toward reducing energy losses and greenhouse gas emissions, as well as seeking clean energy sources, as a result of the constant increase in energy demand and emissions. Energy loss occurs in the gas pressure reduction stations at the delivery points in natural gas distribution systems (city gates). Installing pressure reduction turbines (PRT) parallel to the static reduction valves at the city gates enhances the energy efficiency of the system by recovering the enthalpy of the pressurized natural gas, obtaining in the pressure-lowering process shaft work and generating electrical power. Currently, the Brazilian natural gas transportation network has 9,409 km in extension, while the system has 16 national and 3 international natural gas processing plants, including more than 143 delivery points to final consumers. Thus, the potential of installing PRT in Brazil is 66 MW of power, which could yearly avoid the emission of 235,800 tons of CO2 and generate 333 GWh/year of electricity. On the other hand, an economic viability analysis of these energy efficiency projects is commonly carried out based on estimates of the project's cash flow obtained from several variables forecast. Usually, the cash flow analysis is performed using representative values of these variables, obtaining a deterministic set of financial indicators associated with the project. However, in most cases, these variables cannot be predicted with sufficient accuracy, resulting in the need to consider, to a greater or lesser degree, the risk associated with the calculated financial return. This paper presents an approach applied to the technical-economic viability analysis of PRTs projects that explicitly considers the uncertainties associated with the input parameters for the financial model, such as gas pressure at the delivery point, amount of energy generated by TRP, the future price of energy, among others, using sensitivity analysis techniques, scenario analysis, and Monte Carlo methods. In the latter case, estimates of several financial risk indicators, as well as their empirical probability distributions, can be obtained. This is a methodology for the financial risk analysis of PRT projects. The results of this paper allow a more accurate assessment of the potential PRT project's financial feasibility in Brazil. This methodology will be tested at the Cuiabá thermoelectric plant, located in the state of Mato Grosso, Brazil, and can be applied to study the potential in other countries.

Keywords: pressure reduction turbine, natural gas pressure drop station, energy efficiency, electricity generation, monte carlo methods

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Authors: Ali Musbah Mohamed Elwahishi

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Democracy is demand for the majority of people in the whole world, Specifically in the regions that are still outside the democratic life such as Libya and other Arab countries. Although democracy has spread across the world through three waves of democratization, Libya is still outside the democratic process, even recently its regime has changed. The challenges of democracy in Libya are not new, they represent accumulations over time that impeded to achieve this goal. This paper concludes that the absence of democracy in Libya because of set of factors that include: colonial legacy, oil wealth, the lack of institutions, the lack of political parties, tribal factor and recently the spread of the armed groups. These factors prevented Libya to be democratic state whether during King Idris’, Qaddafi’s or even after Qaddafi rule.

Keywords: the failure of democracy, political transition, the lack of institutions, Libya, Arab countries

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Authors: Alexandru George Vaduva, Adriana Vlad, Bogdan Badea

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In this research, we conduct a Monte Carlo analysis on a two-dimensional χ2 test, which is used to determine the minimum distance required for independent sampling in the context of chaotic signals. We investigate the impact of transforming initial data sets from any probability distribution to new signals with a uniform distribution using the Spearman rank correlation on the χ2 test. This transformation removes the randomness of the data pairs, and as a result, the observed distribution of χ2 test values differs from the expected distribution. We propose a solution to this problem and evaluate it using another chaotic signal.

Keywords: chaotic signals, logistic map, Pearson’s test, Chi Square test, bivariate distribution, statistical independence

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Authors: Xiaojing Wang, Ann-Marie Ward, Tony Wall

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The problem of over-indebtedness has increased since deregulation of the banking industry in the 1980s, and now it has become a major problem for most countries in Europe, including Germany. Consumer debt issues have attracted not only the attention of academics but also government and debt counselling institutions. Overall, this research aims to contribute to the knowledge gap regarding the causes of consumer over-indebtedness in Germany and to develop predictive models for assessing consumer over-indebtedness risk at consumer level. The situation of consumer over-indebtedness is serious in Germany. The relatively high level of social welfare support in Germany suggests that consumer debt problems are caused by other factors, other than just over-spending and income volatility. Prior literature suggests that the overall stability of the economy and level of welfare support for individuals from the structural environment contributes to consumers’ debt problems. In terms of cultural influence, the conspicuous consumption theory in consumer behaviour suggests that consumers would spend more than their means to be seen as similar profiles to consumers in a higher socio-economic class. This results in consumers taking on more debt than they can afford, and eventually becoming over-indebted. Studies have also shown that financial literacy is negatively related to consumer over-indebtedness risk. Whilst prior literature has examined structural and cultural influences respectively, no study has taken a collective approach. To address this gap, a model is developed to investigate the association between consumer over-indebtedness and proxies for influences from the structural and cultural environment based on the above theories. The model also controls for consumer demographic characteristics identified as being of influence in prior literature, such as gender and age, and adverse shocks, such as divorce or bereavement in the household. Benefiting from SOEP regional data, this study is able to conduct quantitative empirical analysis to test both structural and cultural influences at a localised level. Using German Socio-Economic Panel (SOEP) study data from 2006 to 2016, this study finds that social benefits, financial literacy and the existence of conspicuous consumption all contribute to being over-indebted. Generally speaking, the risk of becoming over-indebted is high when consumers are in a low-welfare community, have little awareness of their own financial situation and always over-spend. In order to tackle the problem of over-indebtedness, countermeasures can be taken, for example, increasing consumers’ financial awareness, and the level of welfare support. By analysing causes of consumer over-indebtedness in Germany, this study also provides new insights on the nature and underlying causes of consumer debt issues in Europe.

Keywords: consumer, debt, financial literacy, socio-economic

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Authors: ChunYi Peng, Wei Hsuan CHeng, Shyh Kuang Ueng

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This study focuses on the application of self-organizing maps (SOM) technology in analyzing credit card transaction data, aiming to enhance the accuracy and efficiency of fraud detection. Som, as an artificial neural network, is particularly suited for pattern recognition and data classification, making it highly effective for the complex and variable nature of credit card transaction data. By analyzing transaction characteristics with SOM, the research identifies abnormal transaction patterns that could indicate potentially fraudulent activities. Moreover, this study has developed a specialized visualization tool to intuitively present the relationships between SOM analysis outcomes and transaction data, aiding financial institution personnel in quickly identifying and responding to potential fraud, thereby reducing financial losses. Additionally, the research explores the integration of SOM technology with composite intelligent system technologies (including finite state machines, fuzzy logic, and decision trees) to further improve fraud detection accuracy. This multimodal approach provides a comprehensive perspective for identifying and understanding various types of fraud within credit card transactions. In summary, by integrating SOM technology with visualization tools and composite intelligent system technologies, this research offers a more effective method of fraud detection for the financial industry, not only enhancing detection accuracy but also deepening the overall understanding of fraudulent activities.

Keywords: self-organizing map technology, fraud detection, information visualization, data analysis, composite intelligent system technologies, decision support technologies

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Authors: Syed Atif Ali, Farzan Yahya

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This research paper covers the issue of risk management impact on the company performance. Degree of financial leverage (DFL), degree of operating leverage (DOL) and the working capital ratio (WCR) are taken as independent variables which are the representative of risk and the earning price per share (EPS), return on assets (ROA), return on equity (ROE), Sales and Net profits which are the representative of performance. Last 10 years (2004-2013) of Cement sector of Pakistan data is chosen as sample for analyze their relations by multiple regression technique. Through analyses, it is found that WCR impact adequately on the company performance because if company has enough liquidity than it perform its operations smoothly and enhance its performance very well. DFL should be control moderately because enough DFL leads performance of company downward. On the other hand, the DOL should be less because it causes the less profitability for a company from its operations.

Keywords: degree of financial leverage (DFL), degree of operating leverage (DOL), working capital ratio (WCR), earning per share (EPS), return on equity (ROE), return on assets (ROA)

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Authors: Vinícius L. L. Morrone, David Douek, Helder M. F. Pereira, Bernadete L. M. Grandolpho

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This work aimed to identify the relationships between the level of consumer environmental awareness and their search for sustainable properties, as well as to understand the main sustainability structures considered by these consumers during the decision process. Additionally, the paper looked up to the influence environmental awareness and financial status have over the disposition of buyers to pay more for sustainable properties. To achieve these objectives, 318 questionnaires were answered electronically, after being sent to the Green Building Brazil email basis, as to other Real Estate developers client basis. From all the questionnaires answered, 71 were discarded, leaving a total amount of 247 admitted questionnaires to be analyzed. The responses were evaluated based on the theory of consumer decision making, especially on the influence factors of this process. The data were processed using a PLS model, using the R software. The results have shown that the level of consumer environmental awareness effectively affects the consumer’s will of acquiring a sustainable property or, at least, a property with some environmental friendly structures. The consumer’s environmental awareness also positively impacts the importance consumers give to individual environmental friendly structures. Also, as a consumer value to those individual structures raises, it is also observed a raise in his will to buy a sustainable property. Additionally, the impact of consumer’s environmental awareness and financial status over the willingness to pay more for a property with those attributes. The results indicate that there was no relationship between consumers' environmental awareness and their willingness to pay more for a sustainable property. On the other hand, the financial status and the family income of the consumers showed a positive relation with the willingness to pay more for a sustainable property. This indicates that consumers with better financial conditions, which according to the analysis do not necessarily have a greater environmental awareness, are those who are willing to pay more for a sustainable property. Thus, this study indicates that, even if the environmental awareness impact positively the demand for sustainable structures and properties, this impact is not price reflected, due to the price elasticity of the consumption, especially for a category of lower income consumers. This paper adds to the literature in the way it projects some guidelines to the consumer’s decision process in the Real Estate market in emerging economies, as well as it presents some drivers to pricing decisions.

Keywords: consumer behavior, environmental awareness, real estate pricing, sustainable buildings

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Authors: Natina Yaduma, Allan Williams, Sangwon Park, Andrew Lockwood

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This paper analyses flexible working, and the employment of migrants, as determinants of productivity in hotels. Controlling for the institutional environment, by focussing on a single firm, it analyses data on actual hours worked and outputs, on a weekly basis, over an 8 year period. The unusually disaggregated data allows the paper to examine not only inter-establishment, but also intra-establishment (departmental) variations in productivity, and to compare financial versus physical measures. The findings emphasise the complexity of productivity findings, sometimes contrasting evidence for establishments versus departments, and the positive but scale and measure-specific contributions of both the employment of migrants and flexible working, especially the utilisation of zero hours contracts.

Keywords: labour productivity, physical productivity, financial productivity, numerical flexibility, functional flexibility, migrant employment, cero-contract employment

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Authors: Shreemoyee Sarkar, Vikhyat Chadha

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In this paper, the local fractal properties and chaotic properties of financial time series are investigated by calculating two exponents, the Local Hurst Exponent: LHE and Lyapunov Exponent in a moving time window of a financial series.y. For the purpose of this paper, the Dow Jones Industrial Average (DIJA) and S&P 500, two of the major indices of United States have been considered. The behaviour of the above-mentioned exponents prior to some major crashes (1998 and 2008 crashes in S&P 500 and 2002 and 2008 crashes in DIJA) is discussed. Also, the optimal length of the window for obtaining the best possible results is decided. Based on the outcomes of the above, an attempt is made to predict the crashes and accuracy of such an algorithm is decided.

Keywords: local hurst exponent, lyapunov exponent, market crash prediction, time series chaos, time series local fractal properties

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Authors: Peng Chun-Yi, Chen Wei-Hsuan, Ueng Shyh-Kuang

Abstract:

This study focuses on the application of self-organizing maps (SOM) technology in analyzing credit card transaction data, aiming to enhance the accuracy and efficiency of fraud detection. Som, as an artificial neural network, is particularly suited for pattern recognition and data classification, making it highly effective for the complex and variable nature of credit card transaction data. By analyzing transaction characteristics with SOM, the research identifies abnormal transaction patterns that could indicate potentially fraudulent activities. Moreover, this study has developed a specialized visualization tool to intuitively present the relationships between SOM analysis outcomes and transaction data, aiding financial institution personnel in quickly identifying and responding to potential fraud, thereby reducing financial losses. Additionally, the research explores the integration of SOM technology with composite intelligent system technologies (including finite state machines, fuzzy logic, and decision trees) to further improve fraud detection accuracy. This multimodal approach provides a comprehensive perspective for identifying and understanding various types of fraud within credit card transactions. In summary, by integrating SOM technology with visualization tools and composite intelligent system technologies, this research offers a more effective method of fraud detection for the financial industry, not only enhancing detection accuracy but also deepening the overall understanding of fraudulent activities.

Keywords: self-organizing map technology, fraud detection, information visualization, data analysis, composite intelligent system technologies, decision support technologies

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Authors: Freddy Munzhelele

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Setting: the empirical research has shown that the life cycle theory has an impact on the firms’ financing decisions, particularly the dividend pay-outs. Accordingly, the life cycle theory posits that as a firm matures, it gets to a level and capacity where it distributes more cash as dividends. On the other hand, the young firms prioritise investment opportunities sets and their financing; thus, they pay little or no dividends. The research on firms’ financing decisions also demonstrated, among others, the adoption of trade-off and pecking order theories on the dynamics of firms capital structure. The trade-off theory talks to firms holding a favourable position regarding debt structures particularly as to the cost and benefits thereof; and pecking order is concerned with firms preferring a hierarchical order as to choosing financing sources. The case of life cycle hypothesis explaining the financial managers’ decisions as regards the firms’ capital structure dynamics appears to be an interesting link, yet this link has been neglected in corporate finance research. If this link is to be explored as an empirical research, the financial decision-making alternatives will be enhanced immensely, since no conclusive evidence has been found yet as to the dynamics of capital structure. Aim: the aim of this study is to examine the impact of life cycle theory on the capital structure dynamics trade-off and pecking order theories of firms listed in retail, industrial and mining sectors of the JSE. These sectors are among the key contributors to the GDP in the South African economy. Design and methodology: following the postpositivist research paradigm, the study is quantitative in nature and utilises secondary data obtainable from the financial statements of sampled firm for the period 2010 – 2022. The firms’ financial statements will be extracted from the IRESS database. Since the data will be in panel form, a combination of the static and dynamic panel data estimators will used to analyse data. The overall data analyses will be done using STATA program. Value add: this study directly investigates the link between the life cycle theory and the dynamics of capital structure decisions, particularly the trade-off and pecking order theories.

Keywords: life cycle theory, trade-off theory, pecking order theory, capital structure, JSE listed firms

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Authors: Olurankinse Felix, Fatukasi Bayo

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Over the years, the medium through which government financial statements are prepared has been on cash basis of accounting. This basis was characterised with some shortcomings ranging from non- disclosure of quality and detail information relating to government financial transactions, ill informed assessment of government resource allocation, weak internal control system that inhibits accountability and transparency and non- standardisation of reporting ethics for the purpose of comparability. The emergence of international public sector accounting standards (IPSAS) is therefore seen as leverage as it aims at improving the quality of general purpose financial reporting by public sector entities thereby increasing transparency and accountability. IPSAS is a new concept that all institutions must fully adopts. The crux of this paper is to find out to what extent is the awareness and adoption of IPSAS to both students and lecturers interms of teaching, learning and inclusion in the curriculum of accounting education. The methodology involved the use of well designed questionnaires to obtain information from some selected institutions and the analysis was done with the use of maximum likelihood ordered probit regression. The result of the analysis shows that despite a high level of sensitisation/awareness of IPSAS, the degree of adoption is still low due to low level of desirability by students and lecturers. The paper recommend the need for the government to enact an enabling law to back up the adoption and more importantly to institute appropriate sanctions to ensure full compliance.

Keywords: assessment, awareness, adoption, IPSAS, cash basis

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Authors: Aarohi Surya

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The number of mobile banking users continues to climb across the world due to its increasing popularity, and UAE is no exception. This type of banking is part of the core strategy of most of the financial institutions that allows its customers to conduct a range of financial transactions through mobile apps to cash in the high demand from the bankers. This study aims at evaluating service quality of online banking in Dubai, one of the swiftly growing cities of Middle East. The paper mainly compares online banking services of Multinational bank and National Bank with special reference to Citibank and Emirates NBD. A structured questionnaire survey is conducted among various target groups. The research has been focused on mainly 4 significant areas of online banking, i.e. Privacy, Responsiveness, Reliability, and Efficiency of customer data. Information was analyzed statistically on SPSS to investigate the service quality of e-banking.

Keywords: customer satisfaction, service quality, responsiveness, online banking

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Authors: Noor Taleb Ismael, Areej Abd Al Kareem Al Titi, Ala'a Fayez Jaber

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Objectives: To investigate self-perceived functional performance among adults with IDD who are Jordanian residential care and rehabilitation centers residents. Also, to investigate their functional abilities (i.e., motor, and cognitive). In addition, to determine the motor and cognitive predictors of their functional performance. Methods: The study utilized a cross-sectional descriptive design; the sample included 180 individuals with IDD (90 males and 90 females) aged 18 to 75 years. The inclusion criteria encompassed: 1) Adults with a confirmed IDD by their physician’s professional and 2) residents in Jordanian Residential Care and Rehabilitation Centers affiliated with the Jordanian Ministry of Social Development. The exclusion criteria were: 1) bedridden or totally dependent on their care providers; 2) who had an accident or acquired neurological conditions. Researchers conducted semi-structured interviews to complete the outcome measures that include the Canadian Occupational Performance Measure (COPM), the Functional Independence Measure (FIM), the Montreal Cognitive Assessment (MoCA), the Mini-Mental Status Examination (MMSE), and the sociodemographic questionnaire. Data analyses consisted of descriptive statistics, analysis of frequencies, correlation, and regression analyses. Result: Individuals with IDD showed low functional performance in all daily life areas, including self-care, productivity, and leisure; there was severe cognitive impairment and poor independence and functional performance. (COPM Performance M= 1.433, SD±.57021, COPM Satisfaction M= 1.31, SD±.54, FIM M= 3.673, SD± 1.7918). Two predictive models were validated for the COPM performance and FIM total scores. First, significant predictors of high self-perceived functional performance on COPM were high scores on FIM Motor sub scores, FIM cognitive sub scores, young age, and having a high school educational level (R2=0.603, p=0.012). Second, significant predictors of high functional capacity on FIM were a high score on the COPM performance subscale, a high MMSE score, and having a cerebral palsy (CP) diagnosis (R2=0.671, p<0.001). Conclusions: Evaluating functional performance and associated factors is important in rehabilitation to provide better services and improve health and QoL for individuals with IDD. This study suggested conducting future studies targeting integrated individuals with IDD who live with their families in the communities.

Keywords: functional performance, intellectual and developmental disabilty, cognitive abilities, motor abilities

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Authors: Abimbola Adedeji, Ahmad Shauqi Zubir

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This paper examines the profitability and risk between investing in gold exchange traded funds (ETFs) and gold mutual funds compares to gold prices. The main focus in determining whether there are similarities or differences between those financial products is the tracking error. The importance of understanding the similarities or differences between the gold ETFs, gold mutual funds and gold prices is derived from the fact that gold ETFs and gold mutual funds are used as substitutions for investors who are looking to profit from gold prices although they are short in capital. 10 hypotheses were tested. There are 3 types of tracking error used. Tracking error 1 and 3 gives results that differentiate between types of ETFs and mutual funds, hence yielding the answers in answering the hypotheses that were developed. However, tracking error 2 failed to give the answer that could shed light on the questions raised in this study. All of the results in tracking error 2 technique only telling us that the difference between the ups and downs of the financial instruments are similar, statistically to the physical gold prices movement.

Keywords: gold etf, gold mutual funds, tracking error

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Authors: Mai Ali

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The abstract underscores the critical importance of junior paediatricians acquiring expertise in handling paediatric emergencies, with a particular focus on Diabetic Ketoacidosis (DKA). Existing literature reveals a wealth of research on healthcare professionals' knowledge regarding DKA, encompassing diverse cultural backgrounds and medical specialties. Consistently, challenges such as the absence of standardized protocols and inadequacies in training emerge as common issues across healthcare centres. This research proposal seeks to conduct a thematic analysis of the proficiency of paediatric trainees in the United Kingdom in managing DKA within various clinical contexts. The primary objective is to assess their level of competence and propose effective strategies to enhance DKA training comprehensively.

Keywords: DKA, knowledge, Junior paediatricians, local protocols

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Authors: Nura Suleiman

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The foreign policy of any country or nation is intended to promote and protect the country’s national interest. To achieve this interest, a country has to be guided by certain principles and influence of domestic and international conditions. The history of Nigerian foreign policy is directed to defend its sovereignty, independence, and territorial integrity, to promote and sustain the economic well-being of Nigerians, and promotion of Africa and world peace with justice. With the change of time and leadership, coupled with corruption, despite all the foreign policy determinants endowed with Nigeria as a country, sacrificed its foreign interest for the benefit of the western powers, by this it lost the opportunity to formulate policies according to its own need and desires.

Keywords: foreign policy, Nigeria, Western power

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Authors: Yves Alain Ach, Sandra Rmadi Said

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An extensive review of literature in relation to brands has shown that little research has focused on the nature and determinants of the information disclosed by companies with respect to the brands they own and use. The objective of this paper is to address this issue. More specifically, the aim is to characterize the nature of the information disclosed by companies in terms of estimating the value of brands and to identify the determinants of that information according to the company’s characteristics most frequently tested by previous studies on the disclosure of information on intangible capital, by studying the practices of a sample of 37 French companies. Our findings suggest that companies prefer to communicate accounting, economic and strategic information in relation to their brands instead of providing financial information. The analysis of the determinants of the information disclosed on brands leads to the conclusion that the groups which operate internationally and have chosen a category 1 auditing firm to communicate more information to investors in their annual report. Our study points out that the sector is not an explanatory variable for voluntary brand disclosure, unlike previous studies on intangible capital. Our study is distinguished by the study of an element that has been little studied in the financial literature, namely the determinants of brand-related information. With regard to the effect of size on brand-related information disclosure, our research does not confirm this link. Many authors point out that large companies tend to publish more voluntary information in order to respond to stakeholder pressure. Our study also establishes that the relationship between brand information supply and performance is insignificant. This relationship is already controversial by previous research, and it shows that higher profitability motivates managers to provide more information, as this strengthens investor confidence and may increase managers' compensation. Our main contribution focuses on the nature of the inherent characteristics of the companies that disclose the most information about brands. Our results show the absence of a link between size and industry on the one hand and the supply of brand information on the other, contrary to previous research. Our analysis highlights three types of information disclosed about brands: accounting, economics and strategy. We, therefore, question the reasons that may lead companies to voluntarily communicate mainly accounting, economic and strategic information in relation to our study from one year to the next and not to communicate detailed information that would allow them to reconstitute the financial value of their brands. Our results can be useful for companies and investors. Our results highlight, to our surprise, the lack of financial information that would allow investors to understand a better valuation of brands. We believe that additional information is needed to improve the quality of accounting and financial information related to brands. The additional information provided in the special report that we recommend could be called a "report on intangible assets”.

Keywords: brand related information, brand value, information disclosure, determinants

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Authors: Aneri Mehta, Krunal Mehta

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The unpredictable and vacillating relationship between India and Pakistan since days of Independence struggle is known world over. And this instability has never lost its magnitude to decrease the tensions between the two countries. Since India aspires to run for the race of future superpower and Pakistan struggles to remove the tag of a highly fickle and under developed economy; ruined largely not by the outsiders, but its own people and systems; it becomes really important to gauge what steps would these neighbors take in years to come. The progress and stability of both countries heavily relies on the favorable equations between the two nations. Therefore the paper tries to trace some roots of their faltering relationship and attempts to predict their future in a multidimensional perspective.

Keywords: economy, faltering relationship, multidimensional perspective, international relations

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Authors: Nasir Mehmood, Muhammad Yar Khan, Anam Javeed

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This study aims to scrutinize the dynamics which tend to impact customer’s purchasing intention of Islamic credit card and nexus of product’s knowledge and religiosity with the attitude of potential Islamic credit card’s customer. The theory of reasoned action strengthened the idea that intentions due to its proven predictive power are most likely to instigate intended consumer behavior. Particularly, the study examines the relationships of perceived financial cost (PFC), subjective norms (SN), and attitude (ATT) with the intention to purchase Islamic credit cards. Using a convenience sampling approach, data have been collected from 450 customers of banks located in Rawalpindi and Islamabad. A five-point Likert scale self-administered questionnaire was used to collect the data. The data were analyzed using the Statistical Package of Social Sciences (SPSS) through the procedures of principal component and multiple regression analysis. The results suggested that customer’s religiosity and product knowledge are strong indicators of attitude towards buying Islamic credit cards. Likewise, subjective norms, attitude, and perceived financial cost have a significant positive impact on customers’ purchase intent of Islamic bank’s credit cards. This study models a useful path for future researchers to further investigate the underlined phenomenon along with a variety of psychodynamic factors which are still in its infancy, at least in the Pakistani banking sector. The study also provides an insight to the practitioners and Islamic bank managers for directing their efforts toward educating customers regarding the use of Islamic credit cards and other financial products.

Keywords: attitude, Islamic credit card, religiosity, subjective norms

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Authors: Jhansi Rani Boda, G. Sunitha

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Worldwide, the financial markets are influenced by several factors such as the changes in economic and political processes that occur in the country and the globe, information diffusion and approachability and so on. Yet, the foremost important factor is the investor’s reaction and perception. For an individual investor, decision-making process can be perceived as a continuous process that has significant impact of their psychology while making investment decisions. Behavioral finance relies on research of human and social recognition and emotional tolerance studies to identify and understand the investment decisions. This article aims to report the research of individual investor’s financial behavior in a historical perspective. This article uncovers the investor’s psychology in investment decision making focusing on the investor’s rationality with an explanation of psychological and emotional factors that affect investing. The results of the study are revealed by means of Graphical visualization.

Keywords: behavioral finance, psychology, investor’s behavior, psychological and emotional factors

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Authors: Zelal Çınar

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This paper aims to expose the effects of the ideological program of Turkish Republic on city planning, through the first plan of Ankara. As the new capital, Ankara was planned to be the ‘showcase’ of modern Turkey. It was to represent all new ideologies and the country’s cultural similarities with the west. At the same time it was to underline the national identity and independence of Turkish republic. To this end, a new plan for the capital was designed by German city planner Carl Christopher Lörcher. Diametrically opposed with the existing fabric of the city, this plan was built on the basis of papers and plans, on ideological aims. On the contrary, this paper argues that the city is a machine of possibilities, rather than a clear, materialized system.

Keywords: architecture, ideology, modernization, urban planning

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Authors: Goodness Thandi Ntuli

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The cultural practice of ubuntombi (virginity) among the Zulus is not easily understood from the outside of its cultural context. The empirical study that was conducted through the interviews and focus group discussions about the retrieval of ubuntombi as a cultural practice within the Zulu cultural community indicated that there is a particular cultural identity and difference that can be unearthed from this cultural practice. Being explored from the postcolonial feminist perspective, this cultural identity and difference is discerned in the way in which a Zulu young woman known as intombi (virgin) exercises her power and authority over her own sexuality. Taking full control of her own sexuality from the cultural viewpoint enables her not only to exercise her uniqueness in the midst of multiculturalism and pluralism but also to assert her cultural identity of being intombi. The assertion of the Zulu young woman’s cultural identity does not only empower her to stand on her life principles but also empowers her to lift herself up from the margins of the patriarchal society that otherwise would have kept her on the periphery. She views this as an opportunity for self-development and enhancement through educational opportunities that will enable her to secure a future with financial independence. The underlying belief is that once she has been educationally successful, she would secure a better job opportunity that will enable her to be self-sufficient and not to rely on any male provision for her sustenance. In this, she stands better chances of not being victimized by social patriarchal influences that generally keep women at the bottom of the socio-economic and political ladder. Consequently, ubuntombi (virginity) as a Zulu heritage and cultural identity becomes instrumental in the empowerment of the young women who choose this cultural practice as their adopted lifestyle. In addition, it is the kind of self-empowerment with the intrinsic motivation that works with the innate ability to resist any distraction from an individual’s set goals. It is thus concluded that this kind of motivation is a rare characteristic of the achievers in life. Once these young women adhere to their specified life principles, nothing can stop them from achieving the dreams of their hearts. This includes socio-economic autonomy that will ensure their liberation and emancipation as women in the midst of social and patriarchal challenges that militate against them in the hostile communities of their residence. Another hidden achievement would be to turn around the perception of being viewed as the “other”; instead, they will have to be viewed differently. Their difference lies in the turning around of the archaic kind of cultural practice into a modern tool of self-development and enhancement in contemporary society.

Keywords: cultural, difference, identity, postcolonial, ubuntombi, zulus

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Authors: Bakr Ali Al-Gamrh, Ku Nor Izah B. Ku Ismail

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We investigate the relationship between corporate governance, leverage, risk, and firm performance. We use a firm level panel that spans the period 2008 to 2012 of all listed firms on Abu Dhabi Stock Exchange and Dubai Financial Market. After constructing an index of corporate governance strength, we find a negative effect of corporate governance on firm performance. We, however, discover that corporate governance strength indirectly improves the negative influence of leverage on firm performance in normal times. On the contrary, the results completely reversed when there is a black swan event. Corporate governance strength plays a significantly negative role in moderating the relationship between leverage and firm performance during the financial crisis. We also reveal that corporate governance strength increases firms’ risk and deteriorates performance during crisis. Results provide evidence that corporate governance indirectly plays a completely different role in different time periods.

Keywords: corporate governance, firm performance, risk, leverage, the UAE

Procedia PDF Downloads 549

Authors: Claire Norman-Maillet

Abstract:

Insider fraud, otherwise known as occupational, employee, or internal fraud, is a financial crime threat. Perpetrated by defrauding (or attempting to defraud) one’s current, prospective, or past employer, an ‘employee’ covers anyone employed by the company, including board members and contractors. The Coronavirus pandemic has forced insider fraud into the spotlight, and it isn’t dimming. As the focus of most academics and practitioners has historically been on that of ‘external fraud’, insider fraud is often overlooked or not considered to be a real threat. However, since COVID-19 changed the working world, pushing most of us into remote or hybrid working, employers cannot easily keep an eye on what their staff are doing, which has led to reliance on trust and transparency. This, therefore, brings about an increased risk of insider fraud perpetration. The objective of this paper is to explore why insider fraud is, therefore, now the biggest threat to a business. To achieve the research objective, participating individuals within the financial crime sector (either as a practitioner or consultants) attended semi-structured interviews with the researcher. The principal recruitment strategy for these individuals was via the researcher’s LinkedIn network. The main findings in the research suggest that insider fraud has been ignored and rejected as a threat to a business, owing to a reluctance to admit that a colleague may perpetrate. A positive of the Coronavirus pandemic is that it has forced insider fraud into a more prominent position and giving it more importance on a business’ agenda and risk register. Despite insider fraud always having been a possibility (and therefore a risk) within any business, it is very rare that a business has given it the attention it requires until now, if at all. The research concludes that insider fraud needs to prioritised by all businesses, and even ahead of external fraud. The research also provides advice on how a business can add new or enhance existing controls to mitigate the risk.

Keywords: insider fraud, occupational fraud, COVID-19, COVID, coronavirus, pandemic, internal fraud, financial crime, economic crime

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Authors: Abulbasit G. Abdulsayid, Zinab F. Abdulla, Asma A. Omer

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On the ground that the orifice plate is relatively inexpensive, requires very little maintenance and only calibrated during the occasion of plant turnaround, the orifice plate has turned to be in a real prevalent use in gas industry. Inaccuracy of measurement in the fiscal metering stations may highly be accounted to be the most vital factor for mischarges in the natural gas industry in Libya. A very trivial error in measurement can add up a fast escalating financial burden to the custodian transactions. The unaccounted gas quantity transferred annually via orifice plates in Libya, could be estimated in an extent of multi-million dollars. As the oil and gas wealth is the solely source of income to Libya, every effort is now being exerted to improve the accuracy of existing orifice metering facilities. Discharge coefficient has become pivotal in current researches undertaken in this regard. Hence, increasing the knowledge of the flow field in a typical orifice meter is indispensable. Recently and in a drastic pace, the CFD has become the most time and cost efficient versatile tool for in-depth analysis of fluid mechanics, heat and mass transfer of various industrial applications. Getting deeper into the physical phenomena lied beneath and predicting all relevant parameters and variables with high spatial and temporal resolution have been the greatest weighing pros counting for CFD. In this paper, flow phenomena for air passing through an orifice meter were numerically analyzed with CFD code based modeling, giving important information about the effect of orifice plate specifications on the discharge coefficient for three different tappings locations, i.e., flange tappings, D and D/2 tappings compared with vena contracta tappings. Discharge coefficients were paralleled with discharge coefficients estimated by ISO 5167. The influences of orifice plate bore thickness, orifice plate thickness, beveled angle, perpendicularity and buckling of the orifice plate, were all duly investigated. A case of an orifice meter whose pipe diameter of 2 in, beta ratio of 0.5 and Reynolds number of 91100, was taken as a model. The results highlighted that the discharge coefficients were highly responsive to the variation of plate specifications and under all cases, the discharge coefficients for D and D/2 tappings were very close to that of vena contracta tappings which were believed as an ideal arrangement. Also, in general sense, it was appreciated that the standard equation in ISO 5167, by which the discharge coefficient was calculated, cannot capture the variation of the plate specifications and thus further thorough considerations would be still needed.

Keywords: CFD, discharge coefficients, orifice meter, orifice plate specifications

Procedia PDF Downloads 119