Search results for: Ministry of Finance of Indonesia

Authors: Abdullah Abu-Tineh, Hissa Sadiq, Fatma Al-Mutawah, Youmen Chaaban

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The past 20 years have seen a proliferation of empirical research into various licensure systems. Extensive quantitative work investigates these systems of appraisal from different countries, but there is far less research on the implementation of the Qatari licensure system and the adoption of professional standards. In this paper, we provided a quantitatively and qualitatively descriptive look at the process that moves educators from their point of entry into the profession through their certification as accomplished professionals. Specifically, we focused on the perceptions of teachers and school leaders on the licensure system currently adopted by Ministry of Education and Higher Education in Qatar. The paper aims to inform progress towards a system of reliable, valid, and nationally appropriate teacher and school leader evaluation procedures. Such a system can support decision-making based on a common, comprehensive set of standards that ensures the placement of only the most effective educators in Qatari schools. This paper was made possible by NPRP grant # (NPRP7-1224-5-178) from the Qatar national research fund (a member of Qatar foundation) to Abdullah M. Abu-Tineh. The statements made herein are solely the responsibility of the author.

Keywords: licensure system, professional standards, professional portfolio, educator voice

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Authors: Raghvendra Singh Yadav, Ivo Kuřitka, Jarmila Vilcakova, Pavel Urbanek, Michal Machovsky, David Skoda

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In this report, the impact of Gd³⁺ substitution in ZnFe₂O₄ spinel ferrite nanoparticles on structural, optical and magnetic properties was investigated. ZnFe₂₋ₓGdₓO₄ (x=0.00, 0.05, 0.10, 0.15, 0.20) nanoparticles were synthesized by honey-mediated sol-gel combustion method. X-ray diffraction, Raman Spectroscopy and Fourier Transform Infrared Spectroscopy confirmed the formation of cubic spinel ferrite crystal structure. The morphology and elemental analysis were studied using field emission scanning electron microscopy (FE-SEM) and energy dispersive X-ray spectroscopy, respectively. UV-Visible reflectance spectroscopy revealed band gap variation with concentration of Gd³⁺ substitution in ZnFe₂O₄ nanoparticles. Magnetic property was studied using vibrating sample magnetometer at room temperature. The synthesized spinel ferrite nanoparticles showed ferromagnetic behaviour. The evaluated magnetic parameters such as saturation magnetization, coercivity and remanence showed variation with Gd³⁺ substitution in spinel ferrite nanoparticles. This work was supported by the Ministry of Education, Youth and Sports of the Czech Republic – Program NPU I (LO1504).

Keywords: sol-gel combustion method, nanoparticles, magnetic property, optical property

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Authors: Alkhathlan Mansour

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Current research aims at achieving the organizational development in the educational institutions in the governorate of Al-Kharj through the human performance technology (HPT) model that is named; “The Intellectual Model to improve human performance”. To achieve the goal of this research, it tools -that it is consisting of targeted questionnaires to research sample numbered (120)- have been set up. This sample is represented in; department managers in Prince Sattam Bin Abdulaziz University (50), educational supervisors in the Department of Education (40), school administrators in the governorate (30), and the views of education experts through personal interviews in the proposal to achieve organizational development through the intellectual model to improve human performance. Among the most important research results is that there are many obstacles prevent the organizational development in the educational institutions, so the research suggested a model to achieve organizational development through human performance technologies, as well as the researcher recommended through the results of his research that the administrators have to take into account the justice in the distribution of incentives to employees of educational institutions and training leaders in educational institutions on organizational development strategies and working on the preparation of experts of organizational development in the educational institutions to develop the necessary policies and procedures of each institution.

Keywords: human performance, development, education, organizational

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Authors: Darius Phiri, Moses Chibesa, Donald Zulu, Robby Kasubika

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In Zambia, wildlife is co-managed by Zambia Wildlife Authority (ZAWA) and the local communities by sharing management responsibilities and benefits derived from harvesting wildlife resources under a benefit sharing mechanism. Although the benefit sharing mechanism has been formulated under good principles, it is still facing numerous challenges. In response to these challenges, a study on the sustainability of ZAWA benefit sharing mechanism was carried out in order to assess its potential and continuity in line with community empowerment and wildlife resources management. Systematic sampling was used with a sampling intensity of 4% to administer three types of questionnaires to community members in Mumbwa Game Management Area (GMA), ZAWA officers, and to the Ministry of Tourism, Environment and Natural Resources (MTENR) staffs. The collected data was then analysed using SPSS version 16.5. The findings indicated that many people in the GMA do not participate fully because of lacking satisfactory benefits. However, the mechanism contribute to the community well-being and can still remain sustainable especially if measures to address the current challenges are put in place.

Keywords: benefit sharing, concessions, licenses, poaching, local communities, sustainability

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Authors: Mohammad Mushir Khan, C. Satyanarayana

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Education is considered as one of the prime bottlenecks in the economic growth of India. The Ministry of Human Resource & Development, Government of India has, therefore, given special attention to this issue and the Gross Enrollment Ratio (GER) in Higher Education has increased marginally during last five years, with the efforts and various policy decisions like Right to Education (RTE) and other fee reimbursement schemes, initiated by the State Governments. But still this is one of the lowest, if assessed at the global level. It is true that the GER has improved but the survey reveals that the quality has been badly affected. This paper tries to assess the impact of lack of quality education in various sectors that affects Indian Economy and thereby signifies the need of immediate policy decision at the government level. It is to be noted that in higher education, science, management, engineering and technology plays vital role as far as shaping country’s economy is concerned and as such the quality needs to be addressed, particularly, in these streams. The paper, after carefully studying lots of survey reports and other government/ non-government documents recommends measures to be initiated by the Central Government, on priority, for improving quality of education. The quality up-gradation in higher education single handedly provides real fuel to the India’s growth Engine, as it has potential to touch each and every sector that strengthens country’s economy.

Keywords: higher education, economy, accreditation, industry, technology

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Authors: Parvin Abedi, Poorandokht Afshari

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Introduction: In 2022, the Youth Law of the Population was notified to all organizations, including the Iranian Ministry of Health. Some of the articles of this law are about the role of midwives in health and treatment to promote childbearing. In this regard, articles number 45, 48, 49, and 50 are related to midwifery work that will be reviewed in this article. Methods: In this review, the law of population youth was reviewed. In this regard, the statistics of midwives working in the treatment and health sector were collected and analyzed according to the population youth law. Results: Nearly 47 000 midwives are working in the public and private sectors of the country and in the healthcare sector; according to Article 49, which states that there should be one midwife for every two parturient women, about 12,000 midwives are needed in the treatment department and about 8,000 midwives are needed in the health department. In Article 50 it is mentioned to modify tariffs and efficiency in order to increase natural childbirth, and in this field, insurance organizations should have sufficient cooperation with payments. The tariff for midwifery services has been increased, but it is not enough for the stressful job of midwifery. The labor incentive for delivery by midwives is also low. Conclusion: Midwives are one of the fundamental pillars of the law of the population, and without increasing the motivation of midwives, it is not possible to increase the rate of natural childbirth and make childbirth pleasant.

Keywords: law of the population, midwife, motivation, childbearing

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Authors: Agus Hariyadi, Hiroatsu Fukuda

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In tropical country like Indonesia, especially in Jakarta, most of the energy consumption on building is for the cooling system, the second one is from lighting electric consumption. One of the passive design strategy that can be done is optimizing the use of natural light from the sun. In this area, natural light is always available almost every day around the year. Natural light have many effect on building. It can reduce the need of electrical lighting but also increase the external load. Another thing that have to be considered in the use of natural light is the visual comfort from occupant inside the room. To optimize the effectiveness of natural light need some modification of façade design. By using external shading device, it can minimize the external load that introduces into the room, especially from direct solar radiation which is the 80 % of the external energy load that introduces into the building. It also can control the distribution of natural light inside the room and minimize glare in the perimeter zone of the room. One of the horizontal blind that can be used for that purpose is Sudare. It is traditional Japanese blind that have been used long time in Japanese traditional house especially in summer. In its original function, Sudare is used to prevent direct solar radiation but still introducing natural ventilation. It has some physical characteristics that can be utilize to optimize the effectiveness of natural light. In this research, different scale of Sudare will be simulated using EnergyPlus and DAYSIM simulation software. EnergyPlus is a whole building energy simulation program to model both energy consumption—for heating, cooling, ventilation, lighting, and plug and process loads—and water use in buildings, while DAYSIM is a validated, RADIANCE-based daylighting analysis software that models the annual amount of daylight in and around buildings. The modelling will be done in Ladybug and Honeybee plugin. These are two open source plugins for Grasshopper and Rhinoceros 3D that help explore and evaluate environmental performance which will directly be connected to EnergyPlus and DAYSIM engines. Using the same model will maintain the consistency of the same geometry used both in EnergyPlus and DAYSIM. The aims of this research is to find the best configuration of façade design which can reduce the external load from the outside of the building to minimize the need of energy for cooling system but maintain the natural light distribution inside the room to maximize the visual comfort for occupant and minimize the need of electrical energy consumption.

Keywords: façade, natural light, blind, energy

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Authors: Anan Alssbaiheen, Steve Love

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Given the lack of research into potential opportunities and challenges which are likely to be associated with the implementation of mobile services in developing countries including Saudi Arabia, the research reported here investigated the challenges and opportunities which are associated with the implementation of mobile government services in Saudi Arabia. By collecting data through surveys from 103 Saudi citizens and 46 employees working at the Ministry of Communication and Information Technology Saudi Arabia, this study indicates that the high level of mobile penetration in the country offers an opportunity for Saudi Arabian government to offer mobile government services in the country. The results also suggest that though a large percentage of populations do not have access to mobile technologies, there is still a strong desire among users for the provision of mobile government services. Moreover, the results suggest that effective implementation of mobile government services would help to increase the technological development of Saudi Arabia. However, there are certain challenges which may prevent the effective implementation of such services. First, there does not appear to be a sufficient level of understanding among the Saudi Arabian population about the benefits which are associated with mobile government services. Secondly, the results suggest that the implementation of the services needs to be closely tailored and personalised to the individual needs of target users. Finally, the lack of access to mobile technologies would be a challenge to the successful introduction of these services.

Keywords: challenges, e-government, mobile government, opportunities

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Authors: Milind Bharambe, Chander Shekhar

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India is a vast country with its 1.21 billion population at the dawn of new decade, which accounts for one sixth of the global human capital in the world today. It is well known that health expenditure in India is dominated by private spending. This is an unfortunate consequence of India’s development because of large positive externality associated with health spending, which make health a merit good. This paper has used data from NSSO and Indian Government’s spending on health as reported by Ministry of Health and Family Welfare. Understanding of the dynamism of age-structure of the population would greatly optimize the expenditure on health care services. A country with good public health indicators is bound to possess good human capital which is an asset to the economic growth and indicator of development status of country. The paper tries to present the linkages between the health expenditure incurred by different states at various levels of demographic transition levels and the efficiency in utilization of health expenditure. It also looks into the way in which allocative efficiency health services can be improved. Paper tries to explore the per capita spending on health and how the demographic transition taking place in different states of India affect the required quantity and quality of health services.

Keywords: age structure, demographic transition, health expenditure, morbidity

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Authors: Vanita Singh

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In developing countries, there are conflicting political agendas; policy makers have to prioritize issues from a list of issues competing for the limited resources. Thus, it is imperative to understand how some issues gain attention, and others lose in the policy circles. Multiple-Streams Theory of Kingdon (1984) is among the influential theories that help to understand the public policy process and is utilitarian for health policy makers to understand how certain health issues emerge on the policy agendas. The issue of maternal mortality was long standing in India and was linked with high birth rate thus the focus of maternal health policy was on family planning since India’s independence. However, a paradigm shift was noted in the maternal health policy in the year 1992 with the launch of Safe Motherhood Programme and then in the year 2005, when the agenda of maternal health policy became universalizing institutional deliveries and phasing-out of Traditional Birth Attendants (TBAs) from the health system. There were many solutions proposed by policy communities other than universalizing of institutional deliveries, including training of TBAs and improving socio-economic conditions of pregnant women. However, Government of India favored medical community, which was advocating for the policy of universalizing institutional delivery, and neglected the solutions proposed by other policy communities. It took almost 15 years for the advocates of institutional delivery to transform their proposed solution into a program - the Janani Suraksha Yojana (JSY), a safe-motherhood program promoting institutional delivery through cash incentives to pregnant women. Thus, the case of safe motherhood policy in India is worth studying to understand how certain issues/problems gain political attention and how advocacy work in policy circles. This paper attempts to understand the factors that favored the agenda of safe-motherhood in the policy circle in India, using John Kingdon’s Multiple-Stream model of agenda-setting. Through document analysis and literature review, the paper traces the evolution of safe motherhood program and maternal health policy. The study has used open source documents available on the website of Ministry of Health and Family Welfare, media reports (Times of India Archive) and related research papers. The documents analyzed include National health policy-1983, National Health Policy-2002, written reports of Ministry of Health and Family Welfare Department, National Rural Health Mission (NRHM) document, documents related to Janani Suraksha Yojana and research articles related to maternal health programme in India. The study finds that focusing events and credible indicators coupled with media attention has the potential to recognize a problem. The political elites favor clearly defined and well-accepted solutions. The trans-national organizations affect the agenda-setting process in a country through conditional resource provision. The closely-knit policy communities and political entrepreneurship are required for advocating solutions high on agendas. The study has implications for health policy makers in identifying factors that have the potential to affect the agenda-setting process for a desired policy agenda and identify the challenges in generating political priorities.

Keywords: agenda-setting, focusing events, Kingdon’s model, safe motherhood program India

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Authors: Patrick M. Stanton, William R. McCumber

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Using a large dataset of more than 2,400 individual microfinance institutions (MFIs) from 120 countries from 1999 to 2016, this study finds that nearly half of the international MFIs operate as for-profit institutions. Formal institutions (business regulatory environment, property rights, social protection, and a developed financial sector) impact the likelihood of MFIs being for-profit across countries. Cultural differences across countries (power distance, individualism, masculinity, and indulgence) seem to be a factor in the legal status of the MFI (non-profit or for-profit). MFIs in countries with stronger formal institutions, a greater degree of power distance, and a higher degree of collectivism experience better financial and social performance.

Keywords: Hofstede cultural dimensions, international finance, microfinance institutions, non-profite

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Authors: Kay Fielden, Eelin Tan, Lan Nguyen

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In this research project, data was gathered at a Covid 19 Conference held in June 2021 from industry leaders who discussed the impact of the global pandemic on the status of the New Zealand hospitality industry. Panel discussions on financials, human resources, health and safety, and recovery were conducted. The themes explored for the finance panel were customer demographics, hospitality sectors, financial practices, government impact, and cost of compliance. The aim was to see how the hospitality industry has responded to the global pandemic and the steps that have been taken for the industry to recover or sustain their business. The main research question for this qualitative study is: What are the factors that have impacted on finance for the hospitality industry in New Zealand due to Covid 19? For financials, literature has been gathered to study global effects, and this is being compared with the data gathered from the discussion panel through the lens of resilience theory. Resilience theory applied to the hospitality industry suggests that the challenges imposed by Covid 19 have been the catalyst for government initiatives, technical innovation, engaging local communities, and boosting confidence. Transformation arising from these ground shifts have been a move towards sustainability, wellbeing, more awareness of climate change, and community engagement. Initial findings suggest that there has been a shift in customer base that has prompted regional accommodation providers to realign offers and to become more flexible to attract and maintain this realigned customer base. Dynamic pricing structures have been required to meet changing customer demographics. Flexible staffing arrangements include sharing staff between different accommodation providers, owners with multiple properties adopting different staffing arrangements, maintaining a good working relationship with the bank, and conserving cash. Uncertain times necessitate changing revenue strategies to cope with external factors. Financial support offered by the government has cushioned the financial downturn for many in the hospitality industry, and managed isolation and quarantine (MIQ) arrangements have offered immediate financial relief for those hotels involved. However, there is concern over the long-term effects. Compliance with mandated health and safety requirements has meant that the hospitality industry has streamlined its approach to meeting those requirements and has invested in customer relations to keep paying customers informed of the health measures in place. Initial findings from this study lie within the resilience theory framework and are consistent with findings from the literature.

Keywords: global pandemic, hospitality industry, new Zealand, resilience

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Authors: Mariia V. Efremova, Iana O. Tcareva, Anastasia D. Blokhina, Ivan S. Grebennikov, Anastasia S. Garanina, Maxim A. Abakumov, Yury I. Golovin, Alexander G. Savchenko, Alexander G. Majouga, Natalya L. Klyachko

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During last decades magnetite nanoparticles (NPs) attract a deep interest of scientists due to their potential application in therapy and diagnostics. However, magnetite nanoparticles are toxic and non-stable in physiological conditions. To solve these problems, we decided to create two types of hybrid systems based on magnetite and gold which is inert and biocompatible: gold as a shell material (first type) and gold as separate NPs interfacially bond to magnetite NPs (second type). The synthesis of the first type hybrid nanoparticles was carried out as follows: Magnetite nanoparticles with an average diameter of 9±2 nm were obtained by co-precipitation of iron (II, III) chlorides then they were covered with gold shell by iterative reduction of hydrogen tetrachloroaurate with hydroxylamine hydrochloride. According to the TEM, ICP MS and EDX data, final nanoparticles had an average diameter of 31±4 nm and contained iron even after hydrochloric acid treatment. However, iron signals (K-line, 7,1 keV) were not localized so we can’t speak about one single magnetic core. Described nanoparticles covered with mercapto-PEG acid were non-toxic for human prostate cancer PC-3/ LNCaP cell lines (more than 90% survived cells as compared to control) and had high R2-relaxivity rates (>190 mМ-1s-1) that exceed the transverse relaxation rate of commercial MRI-contrasting agents. These nanoparticles were also used for chymotrypsin enzyme immobilization. The effect of alternating magnetic field on catalytic properties of chymotrypsin immobilized on magnetite nanoparticles, notably the slowdown of catalyzed reaction at the level of 35-40 % was found. The synthesis of the second type hybrid nanoparticles also involved two steps. Firstly, spherical gold nanoparticles with an average diameter of 9±2 nm were synthesized by the reduction of hydrogen tetrachloroaurate with oleylamine; secondly, they were used as seeds during magnetite synthesis by thermal decomposition of iron pentacarbonyl in octadecene. As a result, so-called dumbbell-like structures were obtained where magnetite (cubes with 25±6 nm diagonal) and gold nanoparticles were connected together pairwise. By HRTEM method (first time for this type of structure) an epitaxial growth of magnetite nanoparticles on gold surface with co-orientation of (111) planes was discovered. These nanoparticles were transferred into water by means of block-copolymer Pluronic F127 then loaded with anti-cancer drug doxorubicin and also PSMA-vector specific for LNCaP cell line. Obtained nanoparticles were found to have moderate toxicity for human prostate cancer cells and got into the intracellular space after 45 minutes of incubation (according to fluorescence microscopy data). These materials are also perspective from MRI point of view (R2-relaxivity rates >70 mМ-1s-1). Thereby, in this work magnetite-gold hybrid nanoparticles, which have a strong potential for biomedical application, particularly in targeted drug delivery and magnetic resonance imaging, were synthesized and characterized. That paves the way to the development of special medicine types – theranostics. The authors knowledge financial support from Ministry of Education and Science of the Russian Federation (14.607.21.0132, RFMEFI60715X0132). This work was also supported by Grant of Ministry of Education and Science of the Russian Federation К1-2014-022, Grant of Russian Scientific Foundation 14-13-00731 and MSU development program 5.13.

Keywords: drug delivery, magnetite-gold, MRI contrast agents, nanoparticles, toxicity

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Authors: Hosam Mohamed Darwish

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In 2008, the Egyptian Ministry of Education introduced a new national coursebook ‘Hello for Secondary Schools, which recommends a shift in EFL teachers’ instructional practices. Since then, very little attention has been paid to teachers’ techniques in EFL writing classes. Hence, this study aimed at investigating teaching writing practices in secondary schools and exploring the teachers’ attitudes towards EFL writing skill in addition to exploring the difficulties that teachers encountered in EFL writing lessons. The study depended on data triangulation through administering two questionnaires: one to 44 teachers and the other to 24 students, and conducting semi-structured interviews with 11 teachers. Both teachers and students were asked to describe teaching practices in EFL writing classes while the open-ended questions and interviews collected data about the teachers’ difficulties in writing lessons. The questionnaires indicate that teachers have negative attitudes towards teaching writing, and most of their practices are still traditional. Five factors have influenced teachers’ practices: backwash of the test, teachers’ professional development, students’ culture of reading and large classes. The study recommends there has to be a necessary change in the students’ examination system, and ongoing teachers’ professional development should be considered. Finally, a teaching model and implications are suggested.

Keywords: EFL writing, Egyptian secondary schools, teachers’ attitudes, teachers’ techniques

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Authors: Inka Maria Vilhelmiina Hiltunen

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The crisis of liberal democracy has been recognized from many sites of political literature; scholars of Marxist critical political economy and deliberative democracy, as well as critics of neoliberalism, have become concerned about how either the rise of populism and authoritarianism, institutional decline or the overarching economic rationality erode political democratic citizenship in favor of economic technocracy or conservative protectionism. However, even if these bodies of literature recognize the generalized crisis that haunts Western democracies, dialogue between them has been very limited. That said, drawing from contemporary Marxist perspectives, this article aims at bridging the gap between the criticism of neoliberalism and theories of deliberative democracy. The first section starts by outlining what is meant by neoliberalism, liberal democracy, and the crisis of liberal democracy. The next section explores how contemporary capitalism acts upon society and transforms it. It introduces Jurgen Habermas’ thesis of the ‘colonization of the lifeworld’, Wendy Brown’s analysis of neoliberal rationality and Étienne Balibar’s concepts of ‘absolute capitalism’ and ‘total subsumption,’ that the essay aims at connecting in the last section. The third section is concerned with the deliberative democratic theory and practice. The section highlights the qualitative socio-political impacts of deliberation, as predicted by theorists and shown by empirical studies. The last section draws from contemporary Marxist perspectives to examine the question if deliberative democratic theories and practices can resolve the crisis of liberal democracy in the current financially driven era of neoliberal capitalism. By asking this question, the essay aims to consider what is required to reverse the current global trend of rising inequality. If liberal democracy has declined towards commodified and reactionary forms of politics and if ‘market rationality’ has shaped social agency to the extent that politicians and the public struggle to imagine ‘any alternatives’, the most urgent political task is to bring to life a new political imagination based on democratic ideals of equality, inclusivity, reciprocity, and solidarity, that thereby enables the revision of the transnational institutional design. This part focuses on the hegemonic role of finance and money. The essay concludes by stating that the implementation of substantive global democracy must start from the dissolution of the hegemony of finance, centered on U.S., and from the remaking of the conditions of socioeconomic reproduction world-wide. However, given the still present overarching neoliberal status quo, the essay is skeptical of the ideological feasibility of this remaking.

Keywords: deliberative democracy, criticism of neoliberalism, marxist political economy, crisis of liberal democracy

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Authors: Minsu Kim, Hae-Chang Cho, Jae Hoon Chung, Inwook Heo, Kang Su Kim

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For safe design of the UHPC flexural members, accurate estimations of their shear strengths are very important. However, since the shear strengths are significantly affected by various factors such as tensile strength of concrete, shear span to depth ratio, volume ratio of steel fiber, and steel fiber factor, the accurate estimations of their shear strengths are very challenging. In this study, therefore, the Adaptive Neuro-Fuzzy System (ANFIS), which has been widely used to solve many complex problems in engineering fields, was introduced to estimate the shear strengths of UHPC flexural members. A total of 32 experimental results has been collected from previous studies for training of the ANFIS algorithm, and the well-trained ANFIS algorithm provided good estimations on the shear strengths of the UHPC test specimens. Acknowledgement: This research was supported by Basic Science Research Program through the National Research Foundation of Korea(NRF) funded by the Ministry of Science, ICT & Future Planning(NRF-2016R1A2B2010277).

Keywords: ultra-high-performance concrete, ANFIS, shear strength, flexural member

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Authors: Halit Arslan, Ismail Sahin, Ahmet Oguz Akturk, Ismail Celik

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Today, the means of following the developments in the area of science and technology is to keep up with the pace of the advancements in this area. As is in every profession, apart from their personal efforts, the training of teachers in the period after they start their careers is only possible through in-service training. The aim of the present study is to determine the views of Information Technologies (IT) teachers regarding the in-service training courses organized by the Ministry of National Education. In this study, in which quantitative research methods and techniques were employed, the views of 196 IT teachers were collected by using the “Views on In-service Training” questionnaire developed by the authors of the paper. Independent groups t-test was used to determine whether the views of IT teachers regarding in-service training differed depending on gender, age and professional seniority. One-way analysis of variance (ANOVA) was used to investigate whether the views of IT teachers regarding in-service training differed depending on the number of in-service training courses they joined and the type of in-service training course they wanted to take. According to the findings obtained in the study, the views of IT teachers on in-service training did not show a significant difference depending on gender and age, whereas those views differed depending on professional seniority, the number of in-service training courses they joined and the type of in-service training course they wanted to take.

Keywords: in-service training, IT teachers, professional development, personal development

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Authors: Henrie Yunianto, Dermawan Wibisono

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PT. XYZ is a family business (private company) in Indonesia that provide an educational program and consultation services. Since its establishment in 2011, the company has run without any strategic management system implemented. Though the company could survive until now. The management of PT. XYZ sees the business opportunity for such product is huge, even though the targeted market is very specific (niche), the volume is large (due to large population of Indonesia) and numbers of competitors are low (now). It can be said if the product life cycle is in between ‘Introduction stage’ and ‘growth’ stage. It is observed that nowadays the new entrants (competitors) are increasing, thus PT. XYZ consider reacting in facing the intense business rivalry by conducting the business in an appropriate manner. A Performance Management System is important to be implemented in accordance with the business sustainability and growth. The framework of Performance Management System chosen is Integrated Performance Management System (IPMS). IPMS framework has the advantages of its simplicity, linkage between its business variables and indicators where the company can see the connections between all factors measured. IPMS framework consists of perspectives: (1) Business Result, (2) Internal Processes, (3) Resource Availability. Variables and indicators were examined through deep analysis of the business external and internal environments, Strength-Weakness-Opportunity-Threat (SWOT) analysis, Porter’s five forces analysis. Analytical Hierarchy Process (AHP) analysis was then used to quantify the weight of each variable/indicators. AHP is needed since in this study, PT. XYZ, the data of existing performance indicator was not available. Later, where the IPMS is implemented, the real data measured can be examined to determine the weight factor of each indicators using correlation analysis (or other methods). In this study of IPMS design for PT. XYZ, the analysis shows that with current company goals, along with the AHP methodology, the critical indicators for each perspective are: (1) Business results: Customer satisfaction and Employee satisfaction, (2) Internal process: Marketing performance, Supplier quality, Production quality, Continues improvement; (3) Resources Availability: Leadership and company culture & value, Personal Competences, Productivity. Company and/or organization require performance management system to help them in achieving their vision and mission. Company strategy will be effectively defined and addressed by using performance management system. Integrated Performance Management System (IPMS) framework and AHP analysis help us in quantifying the factors which influence the business output expected.

Keywords: analytical hierarchy process, business strategy, differentiation strategy, integrated performance management system

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Authors: Anu Soikkelii, Laura Sorri

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Finnish national research project, User- and Business-oriented Suburb Renovation Concept (KLIKK), was started in January 2012 and will end in June 2014. The perspective of energy efficiency is emphasised in the project, but also it addresses what improving the energy efficiency of suburban apartment buildings means from the standpoint of architecturally valuable buildings representing different periods. The project will also test the impacts of stricter energy efficiency requirements on renovation projects. The primary goal of the project is to develop a user-oriented, industrial, economic renovation concept for suburban apartment building renovation, extension and construction of additional storeys. The concept will make it possible to change from performance- and cost-based operation to novel service- and user-oriented, site-specifically tailored renovation methods utilizing integrated order and delivery chains.The present project is collaborating with Ministry of the Environment and participating cities in developing a new type of lighter town planning model for suburban renovations and in-fill construction. To support this, the project will simultaneously develop practices for environmental impact assessment tools in renovation and suburban supplementary and in-fill construction.

Keywords: energy efficiency, prefabrication, renovation concept, suburbs, sustainability, user-orientated

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Authors: Apichaya Kaewuthai

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To study the meaning of Muslim name in order to analyse the underlining value and identity from first year to forth year Muslim students at Prince of Songkla University, Hatyai Campus. The questionnaires are employed as a main analytical tool to acquire the names from 80 Muslim students in four study years. The meanings of obtained names are subsequently analysed and summarized base upon related documents to uncover the beneath value. The study reveals that name of male is derived from the name of prophet; Nabi Muhammad, merit, dignity, origins, leadership and the faith in Islam. For female, on the other hand, their names are related to virtue and beauty, cleanliness and peace, hope and flowers which comply with their characteristics. One of the reasons contribute to the principle of naming is the regulation of Ministry of Culture which states that the name should represent one’s nature and characters. The given name reflects value and identity of Muslim which can be classified into three categories including 1) Value related to belief in Islam 2) value related to relationship among families and relatives 3) value about relationship with nature and environment. All the above mentioned reflect Muslim value and identity vividly. The name of Muslim students allows the researcher to perceive the perspective, belief and value in giving the name of Thai Muslim. Besides, it reveals social condition and their culture. It can also be the fundamental of studying the meaning of name in other races.

Keywords: the naming, Thai Muslim, culture, economic

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Authors: B. F. Nteumagne, E. Pindza, E. Mare

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We apply Lie symmetries analysis to price and hedge options in the fractional Brownian framework. The reputation of Lie groups is well spread in the area of Mathematical sciences and lately, in Finance. In the presence of transactions costs and under fractional Brownian motions, analytical solutions become difficult to obtain. Lie symmetries analysis allows us to simplify the problem and obtain new analytical solution. In this paper, we investigate the use of symmetries to reduce the partial differential equation obtained and obtain the analytical solution. We then proposed a hedging procedure and calibration technique for these types of options, and test the model on real market data. We show the robustness of our methodology by its application to the pricing of digital options.

Keywords: fractional brownian model, symmetry, transaction cost, option pricing

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Authors: M. Qamarul Islam, Ergun Dogan, Mehmet Yazici

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There is a growing body of evidence that non-normal data is more prevalent in nature than the normal one. Examples can be quoted from, but not restricted to, the areas of Economics, Finance and Actuarial Science. The non-normality considered here is expressed in terms of fat-tailedness and asymmetry of the relevant distribution. In this study a skew t distribution that can be used to model a data that exhibit inherent non-normal behavior is considered. This distribution has tails fatter than a normal distribution and it also exhibits skewness. Although maximum likelihood estimates can be obtained by solving iteratively the likelihood equations that are non-linear in form, this can be problematic in terms of convergence and in many other respects as well. Therefore, it is preferred to use the method of modified maximum likelihood in which the likelihood estimates are derived by expressing the intractable non-linear likelihood equations in terms of standardized ordered variates and replacing the intractable terms by their linear approximations obtained from the first two terms of a Taylor series expansion about the quantiles of the distribution. These estimates, called modified maximum likelihood estimates, are obtained in closed form. Hence, they are easy to compute and to manipulate analytically. In fact the modified maximum likelihood estimates are equivalent to maximum likelihood estimates, asymptotically. Even in small samples the modified maximum likelihood estimates are found to be approximately the same as maximum likelihood estimates that are obtained iteratively. It is shown in this study that the modified maximum likelihood estimates are not only unbiased but substantially more efficient than the commonly used moment estimates or the least square estimates that are known to be biased and inefficient in such cases. Furthermore, in conventional regression analysis, it is assumed that the error terms are distributed normally and, hence, the well-known least square method is considered to be a suitable and preferred method for making the relevant statistical inferences. However, a number of empirical researches have shown that non-normal errors are more prevalent. Even transforming and/or filtering techniques may not produce normally distributed residuals. Here, a study is done for multiple linear regression models with random error having non-normal pattern. Through an extensive simulation it is shown that the modified maximum likelihood estimates of regression parameters are plausibly robust to the distributional assumptions and to various data anomalies as compared to the widely used least square estimates. Relevant tests of hypothesis are developed and are explored for desirable properties in terms of their size and power. The tests based upon modified maximum likelihood estimates are found to be substantially more powerful than the tests based upon least square estimates. Several examples are provided from the areas of Economics and Finance where such distributions are interpretable in terms of efficient market hypothesis with respect to asset pricing, portfolio selection, risk measurement and capital allocation, etc.

Keywords: least square estimates, linear regression, maximum likelihood estimates, modified maximum likelihood method, non-normality, robustness

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Authors: Nithi Sermsiriviboon, Somchai Supattarakul

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Dividend initiations are an economically significant event that has important implications for a firm’s future financial capacity. Given that the market’s expectation of a consistent payout, managers of IPO firms must approach the initial dividend decision cautiously. We compare the long run performance of IPO firms that initiated dividends with those of similarly matched non-payers. We found that firms which initiated dividends perform significantly better up to three years after the initiation date. Moreover, we measure investor reactions by 2-day around dividend announcement date cumulative abnormal return. We evidence no statistically significant differences between cumulative abnormal returns (CAR) of IPO firms and cumulative abnormal returns of Non-IPO firms, indicating that investors do not respond to dividend announcement of IPO firms more than they do to the dividend announcement of Non-IPO firms.

Keywords: dividend, initial public offerings, long-run performance, finance

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Authors: Charaia Vakhtang

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Global oil prices are seeing new bottoms every day. The prices have already collapsed beneath the psychological verge of 30 USD. This tendency would be fully acceptable for the Georgian consumers, but there is one detail: two our neighboring countries (one friendly and one hostile) largely depend on resources of these hydrocarbons. Namely, the ratio of Azerbaijan in Georgia’s total FDI inflows in 2014 marked 20%. The ratio reached 40% in the January to September 2015. Azerbaijan is Georgia’s leading exports market. Namely, in 2014 Georgia’s exports to Azerbaijan constituted 544 million USD, i.e. 19% in Georgia’s total experts. In the January to November period of 2015, the ratio exceeded 11%. Moreover, Azerbaijan is Georgia’s strategic partner country as part of many regional projects that are designated for long-term perspectives. For example, the Baku-Tbilisi-Karsi railroad, the Black Sea terminal, preferential gas tariffs for Georgia and so on. The Russian economic contribution to the Georgian economy is also considerable, despite the losses the Russian hostile policy has inflicted to our country. Namely, Georgian emigrants are mainly employed in the Russian Federation and this category of Georgian citizens transfers considerable funds to Georgia every year. These transfers account for about 1 billion USD and consequently, these funds previously equalized to total FDI inflows. Moreover, despite the difficulties in the Russian market, Russia still remains a leader in terms of money transfers to Georgia. According to the last reports, money transfers from Russia to Georgia slipped by 276 million USD in 2015 compared to 2014 (-39%). At the same time, the total money transfers to Georgia in 2015 marked 1.08 billion USD, down 25% from 1.44 billion USD in 2014. This signifies the contraction in money transfers is by ¾ dependent on the Russian factor (in this case, contraction in oil prices and the Russian Ruble devaluation directly make negative impact on money transfers to Georgia). As to other countries, it is interesting that money transfers have also slipped from Italy (to 109 million USD from 121 million USD). Nevertheless, the country’s ratio in total money transfers to Georgia has increased to 10% from 8%. Money transfers to Georgia have increased by 22% (+18 million USD) from the USA. Money transfers have halved from Greece to 117 million USD from 205 million USD. As to Turkey, money transfers to Georgia from Turkey have increased by 1% to 69 million USD. Moreover, the problems with the national currencies of Russia and Azerbaijan, along with the above-mentioned developments, outline unfavorable perspectives for the Georgian economy. The depreciation of the national currencies of Azerbaijan and Russia is expected to bring unfavorable results for the Georgian economy. Even more so, the statement released by the Russian Finance Ministry on expected default is in direct relation to the welfare of the whole region and these tendencies will make direct and indirect negative impacts on Georgia’s economic indicators. Amid the economic slowdown in Armenia, Turkey and Ukraine, Georgia should try to enhance economic ties with comparatively stronger and flexible economies such as EU and USA. In other case, the Georgian economy will enter serious turbulent zone. We should make maximum benefit from the EU association agreement. It should be noted that the Russian economy slowdown that causes both regretful and happy moods in Georgia, will make negative impact on the Georgian economy. The same forecasts are made in relation to Azerbaijan. However, Georgia has many partner countries. Enhancement and development of the economic relations with these countries may maximally alleviate negative impacts from the declining economies. First of all, the EU association agreement should be mentioned as a main source for Georgia’s economic stabilization. It is the Georgian government‘s responsibility to successfully fulfill the EU association agreement requirements. In any case the imports must be replaced by domestic products and the exports should be stimulated through government support programs. The Authorities should ensure drawing more foreign investments and money resources, accumulating more tourism revenues and reducing external debts, budget expenditures should be balanced and the National Bank should carry out strict monetary policy. Moreover, the Government should develop a long-term state economic policy and carry out this policy at various Ministries. It is also of crucial importance to carry out constitutive policy and promote perspective directions on the domestic level.

Keywords: oil prices, economic growth, foreign direct investments, international trade

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Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi

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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.

Keywords: company value, family business, financial performance, leadership succession, ownership succession

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Authors: Benedictus Asriparusa, Lathifah Al Hakimi, Aulia Husada

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A large amount of energy is being wasted by the release of natural gas associated with the oil industry. This release interrupts the environment particularly atmosphere layer condition globally which contributes to global warming impact. This research presents an overview of the methods employed by researchers in PT. Chevron Pacific Indonesia in the Minas area to determine a new prediction method of measuring and reducing gas flaring and its emission. The method emphasizes advanced research which involved analytical studies, numerical studies, modeling, and computer simulations, amongst other techniques. A flaring system is the controlled burning of natural gas in the course of routine oil and gas production operations. This burning occurs at the end of a flare stack or boom. The combustion process releases emissions of greenhouse gases such as NO2, CO2, SO2, etc. This condition will affect the chemical composition of air and environment around the boundary layer mainly during transition season. Transition season in Indonesia is absolutely very difficult condition to predict its pattern caused by the difference of two air mass conditions. This paper research focused on transition season in 2013. A simulation to create the new pattern of the pollutants distribution is needed. This paper has outlines trends in gas flaring modeling and current developments to predict the dominant variables in the pollutants distribution. A Fluent model is used to simulate the distribution of pollutants gas coming out of the stack, whereas WRF model output is used to overcome the limitations of the analysis of meteorological data and atmospheric conditions in the study area. Based on the running model, the most influence factor was wind speed. The goal of the simulation is to predict the new pattern based on the time of fastest wind and slowest wind occurs for pollutants distribution. According to the simulation results, it can be seen that the fastest wind (last of March) moves pollutants in a horizontal direction and the slowest wind (middle of May) moves pollutants vertically. Besides, the design of flare stack in compliance according to EPA Oil and Gas Facility Stack Parameters likely shows pollutants concentration remains on the under threshold NAAQS (National Ambient Air Quality Standards).

Keywords: flare motion, new prediction, pollutants distribution, transition season, WRF model

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Authors: Citra Pertiwi, Muhammad Fikruzzaman Rahawarin

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Government of Indonesia had committed to increasing its national defense the budget up to 1,5 percent of GDP. However, the budget increase does not necessarily allocate efficiently and effectively. Using Data Envelopment Analysis (DEA), the operational units of Indonesian Armed Forces are considered as a proxy to measure those two aspects. The bootstrap technique is being used as well to reduce uncertainty in the estimation. Additionally, technological change is being measured as a nonstationary component. Nearly half of the units are being estimated as fully efficient, with less than a third is considered as effective. Longer and larger sets of data might increase the robustness of the estimation in the future.

Keywords: bootstrap, effectiveness, efficiency, DEA, military, Malmquist, technological change

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Authors: Nasir Khalid

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In Malaysia, higher education is big business. There are many companies that are willing if not already to invest heavily in higher education for students that aspire to pursue their degree in diploma, undergraduate as well as graduate studies. These companies sometimes even have a joint venture twinning program with other already established universities in and across Europe, Australia, the United States, and Canada. Some of these investments have been successful whereas others find themselves limited by the obstacle of receiving new students. Recently, the Malaysian Ministry of Higher Education has stopped issuing licenses to set up private institutions of higher education. This paper will thus examine the factors affecting the success of private higher education businesses in Malaysia. The samples will consist of thirty private institutions [N=30]. Among the factors that will be mentioned in the literature are academic programs, student quality and achievement, student employability, alumni satisfaction, student enrolment, institutional environment, lecturer-quality and effectiveness of supporting staff. A questionnaire was developed and analyzed using statistical analysis. The result of this study found that the top three factors affecting the success of private higher education businesses in Malaysia are student enrolment, institutional environment and the academic programs offered.

Keywords: higher education business, successful business factors, private institutions, business in Malaysia

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Authors: Yusuf Sani Abubakar

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This paper investigates mechanisms of settlement of disputes at the Islamic Financial Institutions (IFIs). Dispute settlement at the Islamic Financial Institutions (IFIs) can be both through litigation as well as Alternative Dispute Resolution (ADR). The paper aims to investigate how disputes are settled at the Islamic Financial Institutions (IFIs), as it is natural to have disagreements between different parties involved in the business of Islamic Financial Institutions (IFIs). The paper adopts a qualitative methodology where the sources are taken from journals, books, websites etc. In analyzing the data obtained from the sources, content analysis will be used. In addition to writings on this topic by various writers, this paper will add to the literature and will recommend certain effective ways of solving disputes arising between parties participating in the business of Islamic Financial Institutions (IFIs).

Keywords: Islamic finance, dispute resolution, Islamic financial institutions, litigation

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Authors: Zane Turner, Kevin Labille, Susan Gauch

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Sentiment analysis is a broad and expanding field that aims to extract and classify opinions from textual data. Lexicon-based approaches are based on the use of a sentiment lexicon, i.e., a list of words each mapped to a sentiment score, to rate the sentiment of a text chunk. Our work focuses on predicting stock price change using a sentiment lexicon built from financial conference call logs. We present a method to generate a sentiment lexicon based upon an existing probabilistic approach. By using a domain-specific lexicon, we outperform traditional techniques and demonstrate that domain-specific sentiment lexicons provide higher accuracy than generic sentiment lexicons when predicting stock price change.

Keywords: computational finance, sentiment analysis, sentiment lexicon, stock movement prediction

Procedia PDF Downloads 121