Search results for: accounting policies

Authors: Muhammad Awais Shafique, Eiji Hato

Abstract:

Household trip data is of crucial importance for managing present transportation infrastructure as well as to plan and design future facilities. It also provides basis for new policies implemented under Transportation Demand Management. The methods used for household trip data collection have changed with passage of time, starting with the conventional face-to-face interviews or paper-and-pencil interviews and reaching to the recent approach of employing smartphones. This study summarizes the step-wise evolution in the travel data collection methods. It provides a comprehensive review of the topic, for readers interested to know the changing trends in the data collection field.

Keywords: computer, smartphone, telephone, travel survey

Procedia PDF Downloads 306

Authors: Qirat Naz, Abasiokpon Udoakah

Abstract:

In developed countries, global migration is diversifying. The minority ethnic population, including refugees and asylum seekers who, fled their home countries due to war, terrorism, oppression, or natural disasters, and returning home is dangerous for them. They need sanctuary and peaceful environment in host countries. They begin the process of acculturation, in which a person adopts the social mores and behavioral patterns of the dominant culture, yet they still have unique multicultural needs that the dominant society fails to address. The aim of this research is to provide a holistic understanding of the living experiences of a minority population, particularly migrants, including asylum seekers and refugees, in the health and social care system of South Wales. The purpose of this study is to investigate three research objectives: the multicultural health care needs of minorities, as well as the barriers to seeking health and social care facilities. There are Welsh policies for promoting cultural competence in the health and social care sectors; this research will explore the implications and impact of these policies on the target population. This research study will be conducted using qualitative research methods, tools, and techniques. This research is an inductive approach to coming up with a grounded theory. The sample will be divided into two groups: migrants and professionals providing any kind of services to migrants; each group will contain 30 participants. Interpretive phenomenological analysis would be utilized during the process of coding and developing the main themes of this research. The positionality of the researcher would be minimized by unloaded and open-ended questions, researcher’s work experience in research, continuous evaluation of her positionality, daily base reflection of fieldwork and seeking the help of male and female gatekeepers. The research findings would be based on emic perspective, and by documenting the emic perspective of minorities, this research will contribute to the knowledge of appropriate channels, including organizations, academics, and policymakers, to discover possible solutions and coping mechanisms to deal with the challenges and meet the multicultural demands of minorities. This research will provide a more in-depth understanding of minorities and will help to promote the diversity of health and social care in South Wales.

Keywords: migration, migrants, cultural competence, cultural barriers, healthcare challenges

Procedia PDF Downloads 54

Authors: Patrícia Alexandra Rodrigues Monteiro

Abstract:

The way modern societies relate with their architectural heritage has become increasingly difficult. This fact is clearer in historic centres of Portuguese peripheral cities or villages, constantly on the balance between its growth needs and the restrictions imposed by the policies for the built heritage preservation. Nowadays, gentrification phenomenon has levelled the differences between architecture, from north to south of the country, under false pretences of modernity and promises of better living conditions for local populations who inhabit historic centres. With this essay, we will address some of the main problems of southern Portugal’s historic centres, reflecting on the concept of sustainability which, also in this context, has acquired an unavoidable relevance.

Keywords: architecture, art, heritage, portugal

Procedia PDF Downloads 165

Authors: Aritras Roy, Rinku Mukherjee

Abstract:

The current study couples a quasi-steady Vortex Lattice Method and a camber correcting technique, ‘Decambering’ for unsteady post-stall flow prediction. The wake is force-free and discrete such that the wake lattices move with the free-stream once shed from the wing. It is observed that the time-averaged unsteady coefficient of lift sees a relative drop at post-stall angles of attack in comparison to its steady counterpart for some angles of attack. Multiple solutions occur at post-stall and three different algorithms to choose solutions in these regimes show both unsteadiness and non-convergence of the iterations. The distribution of coefficient of lift on the wing span also shows sawtooth. Distribution of vorticity changes both along span and in the direction of the free-stream as the wake develops over time with distinct roll-up, which increases with time.

Keywords: post-stall, unsteady, wing, aerodynamics

Procedia PDF Downloads 362

Authors: Ratchada Sopakayang, Gerhard A. Holzapfel

Abstract:

In this study, a new constitutive model is developed to describe the hyperelastic behavior of collagenous tissues with a parallel arrangement of collagen fibers such as ligaments and tendons. The model is formulated using a continuum approach incorporating the structural changes of the main tissue components: collagen fibers, proteoglycan-rich matrix and fiber-matrix interaction. The mechanical contribution of the interaction between the fibers and the matrix is simply expressed by a coupling term. The structural change of the collagen fibers is incorporated in the constitutive model to describe the activation of the fibers under tissue straining. Finally, the constitutive model can easily describe the stress-stretch nonlinearity which occurs when a ligament/tendon is axially stretched. This study shows that the interaction between the fibers and the matrix contributes to the mechanical tissue response. Therefore, the model may lead to a better understanding of the physiological mechanisms of ligaments and tendons under axial loading.

Keywords: constitutive model, fiber-matrix, hyperelasticity, interaction, ligament, tendon

Procedia PDF Downloads 292

Authors: O. Starineca, I. Voronchuk

Abstract:

Human Resources (HR) selection and training have various implementation possibilities depending on an organization’s abilities and peculiarities. We propose to base HR selection and training decisions about on a competence-based approach. HR selection and training of employees are topical as there is room for improvement in this field; therefore, the aim of the research is to propose rational decision-making approaches for an organization HR selection and training choice. Our proposals are based on the training development and competence-based selection approaches created within previous researches i.e. Analytic-Hierarchy Process (AHP) and Linear Programming. Literature review on non-formal education, competence-based selection, AHP form our theoretical background. Some educational service providers in Latvia offer employees training, e.g. motivation, computer skills, accounting, law, ethics, stress management, etc. that are topical for Public Administration. Competence-based approach is a rational base for rational decision-making in both HR selection and considering HR training.

Keywords: competence-based selection, human resource, training, decision-making

Procedia PDF Downloads 324

Authors: Fayiz Saifurahman, Noori Fida Mohammad

Abstract:

Afghanistan produces the highest rate of wheat, it is the first source of food, and food security in Afghanistan is dependent on the availability of wheat. Although Afghanistan is the main producer of wheat, on the other hand, Afghanistan is the largest importers of flour. The objective of this study is to assess the structure and dynamics of the wheat market in Afghanistan, can compute with foreign markets, and increase the level of production. To complete this, a broad series of secondary data was complied with, group discussions and interviews with farmers, agricultural and market experts. The research findings propose that; the government should adopt different policies to support the local market. The government should distribute the seed, support financially and technically to increase wheat production.

Keywords: Afghanistan, wheat, production , import

Procedia PDF Downloads 156

Authors: Wei Ting Han, Shiann-Far Kung

Abstract:

In the early time, most of the arable land is dry farming and using rainfall as water sources for irrigation in Tainan county. After the Chia-nan Irrigation System (CIS) was completed in 1930, Chia-nan Plain was more efficient allocation of limited water sources or irrigation, because of the benefit from irrigation systems, drainage systems, and land improvement projects. The problem of long-term drought, flood and salt damage in the past were also improved by CIS. The canal greatly improved the paddy field area and agricultural output, Tainan county has become one of the important agricultural producing areas in Taiwan. With the development of water conservancy facilities, affected by national policies and other factors, many agricultural communities and settlements are formed indirectly, also promoted the change of settlement patterns and internal structures. With the development of historical geographic information system (HGIS), Academia Sinica developed the WebGIS theme with the century old maps of Taiwan which is the most complete historical map of database in Taiwan. It can be used to overlay historical figures of different periods, present the timeline of the settlement change, also grasp the changes in the natural environment or social sciences and humanities, and the changes in the settlements presented by the visualized areas. This study will explore the historical development and spatial characteristics of the settlements in various areas of Tainan County. Using of large-scale areas to explore the settlement changes and spatial patterns of the entire county, through the dynamic time and space evolution from Japanese rule to the present day. Then, digitizing the settlement of different periods to perform overlay analysis by using Taiwan historical topographic maps in 1904, 1921, 1956 and 1989. Moreover, using document analysis to analyze the temporal and spatial changes of regional environment and settlement structure. In addition, the comparison analysis method is used to classify the spatial characteristics and differences between the settlements. Exploring the influence of external environments in different time and space backgrounds, such as government policies, major construction, and industrial development. This paper helps to understand the evolution of the settlement space and the internal structural changes in Tainan County.

Keywords: historical geographic information system, overlay analysis, settlement change, Tainan County

Procedia PDF Downloads 122

Authors: R. Zh. Abdukerim, D. A. Absatarova, A. T. Aitbayeva, M. A. Askarova, S. T. Turuspekova, E. V. Zhunus

Abstract:

The resilience of agricultural systems at the global level to climate change and their ability to recover determines the prospects for food security on a global scale. Since climate change will lead to changes in temperatures, precipitation, weather conditions and mass outbreaks of harmful organisms. The issue of adaptation to climate change in the agricultural sector is one of the priorities of Kazakhstan's Development Strategy for the period up to 2050. Since Kazakhstan is an agroindustrial country in which agriculture plays an important economic role. Kazakhstan is the largest potato producer in Central Asia, accounting for about 60% of the total vegetable production, which determines the urgency of solving the problem of increasing yields and quality. The control harmful organisms plays an important role in solving this issue. Due to the fact that climate change can lead to an increase in the number of harmful organisms and, accordingly, to a complete loss of harvest.

Keywords: potato pests, Colorado potato beetle, soil pests, global climate change

Procedia PDF Downloads 59

Authors: Kaesha M. Freyaldenhoven

Abstract:

Chicago is a city in the United States whose cultural identity is largely shaped by public art pieces. Quintessential public works created by internationally renown artists – such as Anish Kapoor’s Cloud Gate in Millennium Park and 'The Picasso' in Daley Plaza – have historically contributed to developing a shared sense of community. In 2017, the city implemented a policy titled 50x50 Neighborhood Arts Project under the Chicago Public Art Plan. The policy promotes investments in contemporary public art to elevate neighborhood cultural assets and create a sense of place. Exclusively community-based artists were commissioned to accomplish the mission of the policy. Administrators felt only local artists would be capable of capturing the true essence of a neighborhood through art. This paper discusses the relationship between the public art and the culture of its respective neighborhood through close examination of aesthetic formal properties and social significance. Research compares the role of international artists with the role of local artists in cultivating the identity of a city through site-specific artworks in Chicago. Methodology unites theoretical research on understanding art and its function in the public space with empirical research on Chicago-based works. Theoretical frameworks provide an art historical foundation to explore the manner in which physical properties convey meaning through the work itself and its placement in an urban setting. Empirical research that examines policy documentation and press announcements released by the Department of Cultural Affairs and Special Events investigates project selection processes pertaining to the artists and neighborhoods. Ethnographies and interviews of individuals from diverse social segments in contemporary Chicago society measure impacts of the works on respective populations. Findings demonstrate works created by local artists activate neighborhoods and inculcate a sense of pride among community residents. Works created by international artists garner widespread media attention that frames the city’s cultural identity across temporal and geographic zones. This research can be utilized to inform future cultural policies pertaining to the commission of public art.

Keywords: Chicago, cultural policy, public art, urban art

Procedia PDF Downloads 119

Authors: Blythe Maltby

Abstract:

Homeless populations are one of the sections of society most vulnerable to the effects of natural disasters. Channels of communication to these populations are limited as they lack access to mainstream modes of emergency notification, often being the last to know about state emergencies. This study aims to answer if there is a way that cities and policies be designed to help reduce casualty rates to the homeless during state emergencies, such as earthquake and tsunami preparations. The study used a qualitative research approach, namely by speaking to levels of government, homelessness charities and workers and others about preparations and their experiences with the response of state emergencies. The proposed paper may help countries identify the gaps in their preparations to help facilitate better resources to look after these vulnerable populations.

Keywords: accessibility, disaster mitigation, homeless, Vancouver

Procedia PDF Downloads 221

Authors: Justus Enninga

Abstract:

Enthusiasts and skeptics about economic growth have not much in common in their preference for institutional arrangements that solve ecological conflicts. This paper argues that agreement between both opposing schools can be found in the Bloomington Schools’ concept of polycentricity. Growth-enthusiasts who will be referred to as Simons after the economist Julian Simon and growth-skeptics named Ehrlichs after the ecologist Paul R. Ehrlich both profit from a governance structure where many officials and decision structures are assigned limited and relatively autonomous prerogatives to determine, enforce and alter legal relationships. The paper advances this argument in four steps. First, it will provide clarification of what Simons and Ehrlichs mean when they talk about growth and what the arguments for and against growth-enhancing or degrowth policies are for them and for the other site. Secondly, the paper advances the concept of polycentricity as first introduced by Michael Polanyi and later refined to the study of governance by the Bloomington School of institutional analysis around the Nobel Prize laureate Elinor Ostrom. The Bloomington School defines polycentricity as a non-hierarchical, institutional, and cultural framework that makes possible the coexistence of multiple centers of decision making with different objectives and values, that sets the stage for an evolutionary competition between the complementary ideas and methods of those different decision centers. In the third and fourth parts, it is shown how the concept of polycentricity is of crucial importance for growth-enthusiasts and growth-skeptics alike. The shorter third part demonstrates the literature on growth-enhancing policies and argues that large parts of the literature already accept that polycentric forms of governance like markets, the rule of law and federalism are an important part of economic growth. Part four delves into the more nuanced question of how a stagnant steady-state economy or even an economy that de-grows will still find polycentric governance desirable. While the majority of degrowth proposals follow a top-down approach by requiring direct governmental control, a contrasting bottom-up approach is advanced. A decentralized, polycentric approach is desirable because it allows for the utilization of tacit information dispersed in society and an institutionalized discovery process for new solutions to the problem of ecological collective action – no matter whether you belong to the Simons or Ehrlichs in a green political economy.

Keywords: degrowth, green political theory, polycentricity, institutional robustness

Procedia PDF Downloads 179

Authors: Amália S. Botter Fabbri

Abstract:

This paper proposes the analysis of the Strategic Environmental Assessment (SEA) in relation to the three pillars of the sustainable development, highlighting its particular importance to combat climate change. Theoretical and practical examples from Europe show how SEA has been implemented under the SEA Directive in the recent years, while the Brazilian case study shows a situation in which no regulation on SEA was implemented, despite the strong demand for it, as revealed by past experiences and future planning needs. In the end, some aspects to the formulation of a SEA Act are suggested, in an attempt to contribute to a better Brazilian environmental governance in relation to the future plans, programmes and policies required to the reduction of greenhouse gases emissions.

Keywords: Brazil, climate change, Europe, strategic environmental assessment

Procedia PDF Downloads 263

Authors: Asif Zaheer Shaikh, Zhaoyong Zhang, Jaime Yong, Ume Laila Shah

Abstract:

Islamic finance is growing with remarkable pace, especially Islamic banking, a major segment of Islamic finance, is expanding rapidly. This paper discusses the position of Islamic finance and Islamic banking, around the world in general and particularly in Pakistan. History of Islamic banking in Pakistan is protested, presently a significant growth is observed. However Islamic banking is confronting with number of challenges, which are refraining from sustainable growth of this industry in Pakistan. Growth level of Islamic banks should be steeper to contribute substantial share in country’s economy. It is important to formulate effective policies, at institutional and operational level to address these challenges through close collaboration of key stakeholders.

Keywords: Islamic finance, challenges, Islamic banking, Pakistan

Procedia PDF Downloads 529

Authors: Marika Kawamoto, Keita Tsuji

Abstract:

Several decades ago, food and drinks were disallowed in most Japanese libraries. However, as discussions of “Library as a Place” have increased in recent years, the number of public and university libraries that have relaxed their policies to allow food and drinks have been increasing. This study focused on the opinions of library users on allowing food and drinks in public libraries and conducted a questionnaire survey among users of nine Japanese libraries. The results indicated that many users favored allowing food and drinks in libraries. Furthermore, it was found that users tend to frequently visit and stay longer in libraries where food and drinks are allowed.

Keywords: food and drinks, Japanese libraries, opinions of users, public libraries

Procedia PDF Downloads 292

Authors: Arpita Sabat, Kanaklata Samal

Abstract:

A child is the most innocent being on the earth. It is born innocent but the family, the community, the institution and the world at large always butcher its innocence. This paper aims at the role of family for the development of a child in different ethnic or social groups. Family, in fact, is the nucleus in the growth and development of the child. A child grows up with the idea that a family is the world around him. The child tries to emulate consciously or unconsciously from the surrounding. This imitation has serious impact on the development of the child. It even sometimes cripples or stunts the growth of a mind. It results in the disability of the child. All policies about education or changing of curriculum can not bring about a change in the plight of a child’s life unless there is a serious thinking about the role of a family and the contribution of a family to the development of a child.

Keywords: vulnerable child, grooming, surrounding, role of family

Procedia PDF Downloads 319

Authors: Fury Khristianty Fitriyah

Abstract:

This study aims to identify the extent of the role of the Satuan Pengawas Intern (Internal Audit Unit) in detecting and preventing fraud in public universities in West Java under the Ministry of Research, Technology and Higher Education. The research method applied was a qualitative case study approach, while the unit of analysis for this study is the Internal Audit Unit at each public university. Results of this study indicate that the Internal Audit Unit is able to detect and prevent fraud within a public university environment by means of red flags to mark accounting anomalies. These stem from inaccurate budget planning that prompts inappropriate use of funds, exacerbated by late disbursements of funds, which potentially lead to fictitious transactions, and discrepancies in recording state-owned assets into a state property management system (SIMAK BMN), which, if not conducted properly, potentially causes loss to the state.

Keywords: governance, internal control, fraud, public university

Procedia PDF Downloads 278

Authors: Abdullah Al Mohiuddin

Abstract:

Bangladesh is one of the poorest countries in the world, and ranks low on almost all measures of economic development, thus leaving the population extremely vulnerable to natural disasters and climate events. 20% of GDP come from agriculture but more than 60% of the population relies on agriculture as their main source of income making the entire economy vulnerable to climate change and natural disasters. High population density exacerbates the exposure to and effect of climate events, and increases the levels of vulnerability, as does the poor institutional development of the country. The most vulnerable sectors to climate change impacts in Bangladesh are agriculture, coastal zones, water resources, forestry, fishery, health, biomass, and energy. High temperatures, heavy rainfall, high humidity and fairly marked seasonal variations characterize the climate in Bangladesh: Mild winter, hot humid summer and humid, warm rainy monsoon. Much of the country is flooded during the summer monsoon. The Department of Environment (DOE) under the Ministry of Environment and Forestry (MoEF) is the focal point for the United Nations Framework Convention on Climate Change (UNFCCC) and coordinates climate related activities in the country. Recently, a Climate Change Cell (CCC) has been established to address several issues including adaptation to climate change. The climate change focus started with The National Environmental Management Action Plan (NEMAP) which was prepared in 1995 in order to initiate the process to address environmental and climate change issues as long-term environmental problems for Bangladesh. Bangladesh was one of the first countries to finalise a NAPA (Preparation of a National Adaptation Plan of Action) which addresses climate change issues. The NAPA was completed in 2005, and is the first official initiative for mainstreaming adaptation to national policies and actions to cope with climate change and vulnerability. The NAPA suggests a number of adaptation strategies, for example: - Providing drinking water to coastal communities to fight the enhanced salinity caused by sea level rise, - Integrating climate change in planning and design of infrastructure, - Including climate change issues in education, - Supporting adaptation of agricultural systems to new weather extremes, - Mainstreaming CCA into policies and programmes in different sectors, e.g. disaster management, water and health, - Dissemination of CCA information and awareness raising on enhanced climate disasters, especially in vulnerable communities. Bangladesh has geared up its environment conservation steps to save the world’s poorest countries from the adverse effects of global warming. Now it is turning towards green economy policies to save the degrading ecosystem. Bangladesh is a developing country and always fights against Natural Disaster. At the same time we also fight for establishing ecological environment through promoting Green Economy/Energy by Youth Networking. ANTAR is coordinating a big Youth Network in the southern part of Bangladesh where 30 Youth group involved. It can be explained as the economic development based on sustainable development which generates growth and improvement in human’s lives while significantly reducing environmental risks and ecological scarcities. Green economy in Bangladesh promotes three bottom lines – sustaining economic, environment and social well-being.

Keywords: resilience, networking, mobilizing, resource

Procedia PDF Downloads 305

Authors: Amelia Faotusia

Abstract:

The blue economy concept was coined by Pacific nations in recognition of the importance of sustainably managing their extensive marine territories. This is especially important for major ocean-based economic sectors of Pacific economies, such as coastal tourism. There is an absence of research, however, on the key ways in which the blue economy concept has emerged in discourse and public policy in Pacific countries, as well as how it articulates with coastal tourism. This research helps to fill such a gap with a specific focus on Tonga through the application of a post-positivist research approach to conduct a desktop study of relevant national documents and qualitative interviews with relevant government staff, civil society organizations, and tourism operators. The findings of the research reflect the importance of institutional integration and partnerships for a successful blue economy transition and are presented in the form of two case studies corresponding to two sub-sectors of Tonga’s coastal tourism sector: (i) the whale-watching and swimming industry, and (ii) beach resorts and restaurants. A thematic analysis applied to the interview data of both cases then enabled the identification of key areas and issues for socio-economic policy intervention and recommendations in support of blue economy transitions in Tonga’s coastal tourism sector. Examples of the relevant areas and issues that emerged included the importance of foreign direct investment, local market access, community-based special management areas, as well as the need to address the anthropogenic impacts of tropical cyclones, whale tourism, plastic litter on coastal assets, and ecosystems. Policy and practical interventions in support of addressing such issues include a proposed restructuring of the whale-watching and swimming licensing system; integration of climate resilience, adaptation, and capacity building as priorities of local blue economy interventions; as well as strengthening of the economic sustainability dimension of blue economy policies. Finally, this research also revealed the need for further specificity and research on the influence and value of local Tongan culture and traditional knowledge, particularly within existing customary marine tenure systems, on Tonga’s national and sectoral blue economy policies and transitions.

Keywords: blue economy, coastal tourism, integrated ocean management, ecosystem resilience

Procedia PDF Downloads 86

Authors: Ugbor Raphael Oluchukwu

Abstract:

The survey research design was adopted to examine whether liquidity and cash management practices of owner-managed firms in South East Nigeria influence their profitability, growth and survival. Four independent variables (accounting systems, working capital management, budgetary control, and managerial planning) were used in the evaluation which was restricted to eight small firms. Results indicate that one variable, working capital management alone dominate the liquidity perception of owner managers. As a result, owner managers find it difficult to meet maturing business obligations as growth sets in. The study also reveals that the four independent variables have significant impact on the profitability, growth and survival of owner managed firms. Owner managers are therefore advised to undertake regular entrepreneurship training in order to upgrade their liquidity and cash management knowledge and practices to enhance their overall performance.

Keywords: liquidity management, owner-managed firm, profitability, survival

Procedia PDF Downloads 424

Authors: Dan Cristian Popescu

Abstract:

The new territorial identities and global dynamics have determined a change of policies of economics, social and cultural development from a vertical to a horizontal approach, which is based on cooperation networks between institutional actors, economic operators or civil society representatives. The European integration has not only generated a different patterns of competitiveness, economic growth, concentration of attractive potential, but also disparities among regions of this country, or even in the countryside within a region. To a better understanding of the dynamics of regional development and the impact of this concept on Romania, I chose as a case study the region Bucharest-Ilfov which is analyzed on the basis of predetermined indicators and of the impact of European programs.

Keywords: regional competition, regional development, rural, urban

Procedia PDF Downloads 585

Authors: Jesús Ulloa

Abstract:

The creation, rise, and consolidation of far right-wing, ultranationalist, and eurosceptic parties in Europe after the Second World War pose a real threat towards the disintegration of the European Union. Starting more than thirty years ago with Jean-Marie Le Pen's FN and Margaret Thatcher's policies, to Marine Le Pen's current FN and anti-immigration proposals along with Nigel Farage's UKIP and their intentions to leave the European Union, the progress of right-wing parties should be noted, taking into account that they may have very important differences within their postures but that they also reach common ground in certain areas. The actual disintegration of the EU would represent an enormous failure of the new liberal world order. Through this essay, the roots of this political parties will be analyzed and the conclusion of whether the disintegration may become a reality or if the principles of cooperation and unity will prevail will be answered.

Keywords: eurosceptic, ultarnationalist, right-wing, European Union

Procedia PDF Downloads 576

Authors: Tanapond S.

Abstract:

Typically, most of the controlling firms are relate to family firms which are widespread and important for economic growth particularly in Asian Pacific region. The unique characteristics of the controlling families tend to play an important role in determining the corporate policies such as dividend policy. Given the complexity of the family business phenomenon, the empirical evidence has been unclear on how the families behind business groups influence dividend policy in Asian markets with the prevalent existence of cross-shareholdings and pyramidal structure. Dividend policy as one of an important determinant of firm value could also be implemented in order to examine the effect of the controlling families behind business groups on strategic decisions-making in terms of a governance perspective and agency problems. The purpose of this paper is to investigate the impact of ownership structure and concentration which are influential internal corporate governance mechanisms in family firms on dividend decision-making. Using panel data and constructing a unique dataset of family ownership and control through hand-collecting information from the nonfinancial companies listed in Stock Exchange of Thailand (SET) between 2000 and 2015, the study finds that family firms with large stakes distribute higher dividends than family firms with small stakes. Family ownership can mitigate the agency problems and the expropriation of minority investors in family firms. To provide insight into the distinguish between ownership rights and control rights, this study examines specific firm characteristics including the degrees of concentration of controlling shareholders by classifying family ownership in different categories. The results show that controlling families with large deviation between voting rights and cash flow rights have more power and affect lower dividend payment. These situations become worse when second blockholders are families. To the best knowledge of the researcher, this study is the first to examine the association between family firms’ characteristics and dividend policy from the corporate governance perspectives in Thailand with weak investor protection environment and high ownership concentration. This research also underscores the importance of family control especially in a context in which family business groups and pyramidal structure are prevalent. As a result, academics and policy makers can develop markets and corporate policies to eliminate agency problem.

Keywords: agency theory, dividend policy, family control, Thailand

Procedia PDF Downloads 278

Authors: Lya Porto, Giulia Giacchè, Mario Aquino Alves

Abstract:

The paper aims to describe the linkage between government and civil society proposing a study on agro-ecological agriculture policy and urban action in São Paulo city underling the main achievements obtained. The negotiation processes between social movements and the government (inputs) and its results on political regulation and public action for Urban Agriculture (UA) in São Paulo city (outputs) have been investigated. The method adopted is qualitative, with techniques of semi-structured interviews, participant observation, and documental analysis. The authors conducted 30 semi-structured interviews with organic farmers, activists, governmental and non-governmental managers. Participant observation was conducted in public gardens, urban farms, public audiences, democratic councils, and social movements meetings. Finally, public plans and laws were also analyzed. São Paulo city with around 12 million inhabitants spread out in a 1522 km2 is the economic capital of Brazil, marked by spatial and socioeconomic segregation, currently aggravated by environmental crisis, characterized by water scarcity, pollution, and climate changes. In recent years, Urban Agriculture (UA) social movements gained strength and struggle for a different city with more green areas, organic food production, and public occupation. As the dynamics of UA occurs by the action of multiple actresses and institutions that struggle to build multiple senses on UA, the analysis will be based on literature about solidarity economy, governance, public action and networks. Those theories will mark out the analysis that will emphasize the approach of inter-subjectivity built between subjects, as well as the hybrid dynamics of multiple actors and spaces in the construction of policies for UA. Concerning UA we identified four main typologies based on land ownership, main function (economic or activist), form of organization of the space, and type of production (organic or not). The City Hall registers 500 productive unities of agriculture, with around 1500 producers, but researcher estimated a larger number of unities. Concerning the social movements we identified three categories that differ in goals and types of organization, but all of them work by networks of activists and/or organizations. The first category does not consider themselves as a movement, but a network. They occupy public spaces to grow organic food and to propose another type of social relations in the city. This action is similar to what became known as the green guerrillas. The second is configured as a movement that is structured to raise awareness about agro-ecological activities. The third one is a network of social movements, farmers, organizations and politicians that work focused on pressure and negotiation with executive and legislative government to approve regulations and policies on organic and agro-ecological Urban Agriculture. We conclude by highlighting how the interaction among institutions and civil society produced important achievements for recognition and implementation of UA within the city. Some results of this process are awareness for local production, legal and institutional recognition of the rural zone around the city into the planning tool, the investment on organic school public procurements, the establishment of participatory management of public squares, the inclusion of UA on Municipal Strategic Plan and Master Plan.

Keywords: public action, policies, agroecology, urban and peri-urban agriculture, Sao Paulo

Procedia PDF Downloads 285

Authors: Romain Ben Taleb, Aurélie Montarnal, Matthieu Lauras, Mathieu Dahan, Romain Miclo

Abstract:

To be competitive and sustainable, any company has to maximize its value. However, unlike listed companies that can assess their values based on market shares, most Small and Medium Enterprises (SMEs) which are non-listed cannot have direct and live access to this critical information. Traditional accounting reports only give limited insights to SME decision-makers about the real impact of their day-to-day decisions on the company’s performance and value. Most of the time, an SME’s financial valuation is made one time a year as the associated process is time and resource-consuming, requiring several months and external expertise to be completed. To solve this issue, we propose in this paper a value-oriented metamodel that enables real-time and dynamic assessment of the SME’s value based on the large definition of their assets. These assets cover a wider scope of resources of the company and better account for immaterial assets. The proposal, which is illustrated in a case study, discusses the benefits of incorporating assets in the SME valuation.

Keywords: SME, metamodel, decision support system, financial valuation, assets

Procedia PDF Downloads 86

Authors: Sangyun Han, Minki Kim

Abstract:

R&D outsourcing is a strategy for acquiring the competitiveness of firms as an open innovation strategy. As increasing total R&D investment of firms, the ratio of amount of R&D outsourcing in it is also increased in Korea. In this paper, we investigate the determinants and effects of R&D outsourcing of firms. Through analyzing the determinants of R&D outsourcing and effect on firm’s performance, we can find some academic and politic issues. Firstly, in the point of academic view, distinguishing the determinants of R&D outsourcing is linked why the firms do open innovation. It can be answered resource based view, core competence theory, and etc. Secondly, we can get some S&T politic implication for transferring the public intellectual properties to private area. Especially, for supporting the more SMEs or ventures, government can get the basement and the reason why and how to make the policies.

Keywords: determinants, effects, R&D, outsourcing

Procedia PDF Downloads 502

Authors: Alhamdi Alfi Fajri

Abstract:

The purpose of this study is to analyze and to give empirical proof about the effect of fair value implementation on financial asset against information asymmetry in Indonesia’s banking sector. This research tested the effect of fair value implementation on financial asset based on Statement of Financial Accounting Standard (PSAK) No. 55 and the fair value reliability measurement based on PSAK No. 60 against level of information asymmetry. The scope of research is Indonesia’s banking sector. The test’s result shows that the use of fair value based on PSAK No. 55 is significantly associated with information asymmetry. This positive relation is higher than the amortized cost implementation on financial asset. In addition, the fair value hierarchy based on PSAK No. 60 is significantly associated with information asymmetry. This research proves that the more reliable measurement of fair value on financial asset, the more observable fair value measurement and reduces level of information asymmetry.

Keywords: fair value, PSAK No. 55, PSAK No. 60, information asymmetry, bank

Procedia PDF Downloads 339

Authors: Kalayanee Senasu

Abstract:

Research on happiness has been growing in recent decades. In the early stages, scholars were primarily concerned with establishing the validity of happiness measures and with exploring socio-economic correlates of happiness. More recent studies have focused on outcomes of happiness as well as the identification of happiness policies. This research investigates the happiness levels and influences of quality of life in terms of mental health satisfaction, family satisfaction, community satisfaction, and work satisfaction as determinants of happiness in Thailand during 2009-2014. The data collected by the National Statistic Office of Thailand in the project of Socio-economic Survey inclusion of Mental Health Survey in 2009, 2010, and 2012; and in the project of Labor Force Survey inclusion of Mental Health Survey in August 2014 were employed. There was a total of 59,430, 64,720, 54,736, and 9,997 respondents who were at least 15 years old in the survey during 2009-2014. Statistical analyses include both descriptive and inferential statistics. All research hypotheses were tested by means of hierarchical regression analysis. The analysis results reveal that happiness means during the studied period are quite at high levels (in the range of 7.42 to 7.60 from the scale 0-10). And the results indicate that all model variables (i.e., mental health satisfaction, family satisfaction, community satisfaction, and work satisfaction), have positive effects on happiness in Thailand. Additionally, the mental health satisfaction plays the most important role in predicting happiness. Further, our results indicate significant positive relationship between education, and income/expense and happiness, while other socio-economic variables reveal variety relationships during the studied period. Our results not only validate research findings in other countries but also verify the importance of quality of life (in terms of mental health satisfaction, family satisfaction, community satisfaction, and work satisfaction) as important factors of happiness for public policy makers. One conclusion stands firm in our study: happiness can be advanced in many ways. At the society level, greater happiness for people can be achieved by policies that aim to promote good health, an engaged family relationship, a high community as well as work qualities. A contented population is advantaged in many ways over one that is not. Government or policy makers should understand and realize that happiness is a valuable and tangible aspect of the population for which they are responsible. Therefore, they should include happiness issues in their political agenda.

Keywords: community satisfaction, family satisfaction, mental health satisfaction, work satisfaction, happiness, Thailand

Procedia PDF Downloads 325

Authors: Philemon Rakoto

Abstract:

Most executive compensation packages consist of four major components: base fixed salary, annual and long-term non-equity incentive plans, share-based and option-based awards and pension value. According to agency theory, the relative composition of executive compensation packages is one of the mechanisms that firms use to align the interests of executives and shareholders in order to mitigate agency costs. This paper tests the effect of the relative composition of executive compensation packages on financial reporting quality. Financial reporting quality is measured by the value relevance of accounting earnings. Corporate governance is a moderating variable in the model. Using data from Canadian firms composing S&P/TSX index of the year 2013 and governance scores based on Board Games, the analysis shows that, only for firms with good governance, there is an optimal level of the proportion of executive equity-based compensation in relation to total compensation that enhances the quality of financial reporting.

Keywords: Canada, corporate governance, executive compensation packages, financial reporting quality

Procedia PDF Downloads 342

Authors: Zeljana Aljinovic Barac, Marina Granic, Tina Vuko

Abstract:

Study investigates the level and extent of voluntary disclosure practice in Croatia. The research was conducted on the sample of 130 medium and large companies. Findings indicate that two thirds of the companies analysed disclose below-average number of additional information. The explanatory analyses has shown that firm size, listing status and industrial sector significantly and positively affect the level and extent of voluntary disclosure in the annual report of Croatian companies. On the other hand, profitability and ownership structure were found statistically insignificant. Unlike previous studies, this paper deals with level of voluntary disclosure of medium and large companies, as well as companies whose shares are not listed on the organized capital market, which can be found as our contribution. Also, the research makes contribution by providing the insights into voluntary disclosure practices in Croatia, as a case of macro-oriented accounting system economy, i.e. bank oriented economy with an emerging capital market.

Keywords: annual report, Croatian companies, disclosure index, voluntary disclosure

Procedia PDF Downloads 323