Search results for: financial institutions

Authors: Sibylle Tellenbach, Julie Haddock-Millar, Francis Bidault

Abstract:

The aim of this research is to understand the extent to which hybrid working models have influenced employee engagement in the Swiss financial sector. The context for this research is the transition out of the pandemic and the changes that have occurred between 2020 and 2023. Since the pandemic, many financial services companies have had to rethink their working model for office-based employees, as this group of employees has been able to experience a new way of working and, thus, greater freedom and flexibility. For a large number of companies, it was a huge change to shift from the traditional office-based to a new hybrid working model. A heightened focus on employee engagement has become a necessity in order to understand and respond to the challenges presented by the shift in a working model. This new way of working, partly office-based and partly virtual, has led to ambiguities about the impact on the engagement of hybrid teams. Therefore, the research question is: How hybrid working models have influenced employee engagement to what extent? The methodological approach is a narrative inquiry with four similar functional teams within four Swiss financial companies. Semi-structured interviews will be conducted with managers from middle management and their individual team members. The findings will demonstrate whether this shift in the working model influenced individual team members’ engagement and to what extent. The contribution of this research is two-fold. First, the research makes a theoretical contribution, presenting evidence of the impact of hybrid working on individual team members’ engagement in a specific sector and context, enhancing current knowledge on the challenges in working model transition. Second, this research will make a practice-based contribution, recommending ways to enhance the engagement of hybrid teams in a specific context. These recommendations may be applied in wider sectors and teams.

Keywords: employee engagement, hybrid teams, hybrid working models, Swiss financial sector, team engagement

Procedia PDF Downloads 89

Authors: Alev Atak

Abstract:

We study the endogeneity in the cryptocurrency market over the branching ratio of the Hawkes process and evaluate the movement of self-excitability in the financial markets. We consider a semi-parametric self-exciting point process regression model where the excitation function is assumed to be smooth and decreasing but otherwise unspecified, and the baseline intensity is assumed to be a linear function of the regressors. We apply the empirical analysis to the three largest crypto assets, i.e. Bitcoin - Ethereum - Ripple, and provide a comparison with other financial assets such as SP500, Gold, and the volatility index VIX observed from January 2015 to December 2020. The results depict variable and high levels of endogeneity in the basket of cryptocurrencies under investigation, underlining the evidence of a significant role of endogenous feedback mechanisms in the price formation process.

Keywords: hawkes process, cryptocurrency, endogeneity, reflexivity

Procedia PDF Downloads 77

Authors: Muktar Haruna

Abstract:

This research work examines the International Financial Reporting Standard (IFRS) adoption and value relevance of earnings of listed consumer goods companies in the Nigerian. The population of the study comprises 22 listed consumer goods companies, out of which 15 were selected as sample size of the study. The scope of the study is a 12-year period covering from 2006 to 2018. Secondary data from the annual report of sampled companies were used, which consists of earnings per share (EPS), the book value of equity per share (BVE) as independent variables; firm size (FSZ) as a control variable, and market share price of sampled companies from Nigerian stock exchange as dependent variable. Multiple regressions were used to analyze the data. The results of the study showed that IFRS did not improve the value relevance of earnings after the adoption, which translates to a decrease in value relevance of accounting numbers in the post-adoption period. The major recommendation is that the Nigerian Reporting Council should ensure full compliance to all provisions of IFRS and provide uniformity in the presentation of non-current assets in the statement of financial position, where some present only net current assets leaving individual figures for current assets and liabilities invisible.

Keywords: IFRS, adoption, value relevance, earning per share, book value of equity per share

Procedia PDF Downloads 143

Authors: Samia Jamshed Nauman Majeed

Abstract:

Purpose: Globally, the pandemic of COVID -19 has created a massive distraction for educational reforms influencing learning options, education access, and outcomes of students in more than 190 countries which has carved marks in history. To explore the challenges and complications confronted by students and faculty members while ensuring access to online education, qualitative research was conducted. Methodology: For this purpose, a series of focus group discussions were conducted in different regions of Pakistan, which revealed interesting findings shared by Panelists, which include Vice-Chancellors, Rectors, and Deans of different private and public sector universities of Pakistan. The qualitative research aims to explore the challenges and success factors of online educations by students with diverse backgrounds of higher education institutions to maximize student educational outcomes. Findings: The findings revealed several challenges and opportunities when it comes to online education for students of higher education institutions. Simultaneously, the researchers discovered the key success factors necessary for online education. Lastly, the paper presents the research limitations and future research recommendations to streamline online education in a better way ensuring the students' success. Originality: The pandemic has forced the closure of social, business, and educational activities, which has drastically influence the quality of education with its subsequent impact on the economy. In response, numerous universities across the globe are forced to suspend their educational activities by closing the universities. Though online education has been adopted worldwide by the universities, which brought numerous issues for academia, particularly for underdeveloped countries, and Pakistani higher education reforms are no exception to this.

Keywords: online education, higher education institutions, COVID-19, challenges, key success factors

Procedia PDF Downloads 81

Authors: Muhammad Mustafizur Rahaman

Abstract:

Social business is a new concept in the field of Business Economics and Capitalist Economy. It has increased the importance in economic and social development in emerging economies. Professor Muhammad Yunus is the founding father of the notion. While conventional business underscores profit maximization as a core business principle, social business calls for addressing social problems at the expense of profit. This underlying principle gives social business advantageous position over conventional businesses to serve those who live at the bottom of the pyramid. It also poses grave challenges to the social business because social business sacrifices profit at one hand and seeks financial sustainability on the other. For the sake of its financial sustainability, the social business might increase the price of its product or service which might lower its social impact, thus, makes the business self-defeating. Therefore, social business should be more innovative in every business process including production, marketing, and management. Otherwise, the business is unlikely to be driven out from the society.

Keywords: innovativeness, self-defeat, social business, social problem

Procedia PDF Downloads 611

Authors: Kate Ebere Maduforo

Abstract:

Examining the constraints faced by female entrepreneurs is an important subject which most literature on female entrepreneurship is centered on. However, the majority of the existing literature has focused on studying female entrepreneurs in developed societies. Recently, a sense of urgency that has emerged in trying to understand the challenges and motivations of female entrepreneurs in developing countries. The arousal of such interest has been attributed to women entrepreneurs in developing countries being identified as catalysts of economic development at a national level and champions of poverty eradication at the domestic level. This paper, therefore, examines the peculiar constraints faced by women-owned businesses in the mist of political chaos and instability. In this case, the issues experienced by female entrepreneurs in Egypt during the aftermath of the Arab Spring is the focus. Using the logit and probit regression models, data from the World Bank Middle East North Africa Enterprise Survey (MENA ES) are analyzed. The results identified that female entrepreneurs still lack business funding through financial institutions, but get significant funding assistance from family, friends, and money lenders. In addition, women-owned businesses promote and hire mostly women. Female entrepreneurs showed a preference for an impartial judicial system as a contributor to business growth.

Keywords: female entrepreneurship, development, Middle East, developing countries

Procedia PDF Downloads 117

Authors: Senait Belay Adugna, Mirutse Giday, Tsegahun Manyazewal

Abstract:

Background: The emergence and resurgence of zoonotic diseases have continued to be a major threat to global health and the economy. Developing countries are particularly vulnerable due to agricultural expansions and the domestication of animals by humans. Scientifically sound clinical trials are important to find better ways to prevent, diagnose, and treat zoonotic diseases, while there is a lack of evidence to inform the clinical trials’ capacity and practice in countries highly affected by the diseases. This study aimed to investigate researchers’ perceptions and experiences in conducting clinical trials on zoonotic diseases in Ethiopia. Methods: This study employed a descriptive, qualitative study design. It included major academic and research institutions in Ethiopia that had active engagements in veterinary and public health research. It included the National Veterinary Institute, the National Animal Health Diagnostic and Investigation Center, the College of Veterinary Medicine at Addis Ababa University, the Ethiopian Public Health Institute, the Armauer Hansen Research Institute, and the College of Health Sciences at Addis Ababa University. In-depth interviews were conducted with 14 senior researcher investigators in the institutions who hold a proven exhibit primarily leading research activities or research units. Data were collected from October 2019 to April 2020. Data analysis was undertaken using open code 4.03 for qualitative data analysis. Results: Five major themes, with 18 sub-themes, emerged from the in-depth interview in connection. These were: challenges in the prevention, control, and treatment of zoonotic diseases; One Health approach to mitigate zoonotic diseases; personal and institutional experiences in conducting clinical trials on zoonotic diseases; barriers in conducting clinical trials towards zoonotic diseases; and strategies that promote conducting clinical trials on zoonotic diseases. Conducting clinical trials on zoonotic diseases in Ethiopia is hampered by a lack of clearly articulated ethics and regulatory frameworks, trial experts, financial resources, and good governance. Conclusions: In Ethiopia, conducting clinical trials on zoonotic diseases deserves due attention. Strengthening institutional and human resources capacity is a precondition to harnessing effective implementation of clinical trials on zoonotic diseases in the country. In Ethiopia, where skilled human resource is scarce, the One Health approach has the potential to form multidisciplinary teams to systematically improve clinical trials capacity and outcomes in the country.

Keywords: Ethiopia, clinical triak, zoonoses, disease

Procedia PDF Downloads 86

Authors: Aneri Mehta, Krunal Mehta

Abstract:

Financial administration is part of government which deals with collection, preservation and distribution of public funds, with the coordination of public revenue and expenditure, with the management of credit operation on behalf of the state and with the general control of the financial affairs of public households. The researcher has taken the prime body of the local self government viz. Municipal Corporation. However, the number of municipal corporations in India has rapidly increased in recent years. Countries 27% of the total population are living in urban area & in recent it increasing very fast. People are moving very fast from rural area to urban area. Their demand, awareness is increasing day by day. The Municipal Corporations render many services for the development of the urban area. Thus, researcher has taken a step to know the accounting practices of the municipal corporations of Gujarat state (AMC & BMC ). The research will try to show you the status of finance of municipal corporations. Article 243(w) of the constitution of India envisaged that the state government maybe, by law , endow the municipalities with such powers and authorities as may be necessary to enable them to function as institution of self government and such law may contain provision for devolution of powers and responsibilities upon municipalities subjects to such condition as may be specified there in with respect to (i) the peroration of plans for economic development and social justice and (ii) the performance of the function and the implementation of schemes as may be entrusted to them including those in relation to the matters listed in the twelfth schedule. The three tier structure of the Indian Government i.e. Union, State & Local Self Government is the scenario of the Indian constitution. Local Self Government performs or renders many services under the direct control of state government. They (local bodies) possess autonomy within its limited sphere, raise revenue through local taxation and spend its income on local services.

Keywords: financial administration, urban local bodies, local self government, constitution

Procedia PDF Downloads 460

Authors: B. Marasović, S. Pivac, S. V. Vukasović

Abstract:

Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the presence of transaction costs on the Croatian capital market is analyzed. The model applied in the paper is an extension of the standard portfolio mean-variance optimization model in which transaction costs are incurred to rebalance an investment portfolio. This model allows different costs for different securities, and different costs for buying and selling. In order to find efficient portfolio, using this model, first, the solution of quadratic programming problem of similar size to the Markowitz model, and then the solution of a linear programming problem have to be found. Furthermore, in the paper the impact of transaction costs on the efficient frontier is investigated. Moreover, it is shown that global minimum variance portfolio on the efficient frontier always has the same level of the risk regardless of the amount of transaction costs. Although efficient frontier position depends of both transaction costs amount and initial portfolio it can be concluded that extreme right portfolio on the efficient frontier always contains only one stock with the highest expected return and the highest risk.

Keywords: Croatian capital market, Markowitz model, fractional quadratic programming, portfolio optimization, transaction costs

Procedia PDF Downloads 380

Authors: Eniye Tebekaemi, Martin Zhao

Abstract:

The dichotomy between the skills set of newly minted college graduates and the skills required by cybersecurity employers is on the rise. Colleges are struggling to cope with the rapid pace of technology evolution using outdated tools and practices. Industries are getting frustrated due to the need to retrain fresh college graduates on skills they should have acquired. There is a dire need for academic institutions to develop new tools and systems to deliver cybersecurity education to meet the ever-evolving technology demands of the industry. The Cyber-Softbook project’s goal is to bridge the tech industry and tech education gap by providing educators a framework to collaboratively design, manage, and deliver cybersecurity academic courses that meet the needs of the tech industry. The Cyber-Softbook framework, when developed, will provide a platform for academic institutions and tech industries to collaborate on tech education and for students to learn about cybersecurity with all the resources they need to understand concepts and gain valuable skills available on a single platform.

Keywords: cybersecurity, education, skills, labs, curriculum

Procedia PDF Downloads 85

Authors: Angela Mathias Kavishe

Abstract:

Sexual harassment directed at women is reported in many societies, including in Tanzania. The advent of ICT technology, especially in universities, seems to aggravate the situation by extending harassment to cyberspace in various forms, including cyberstalking. Evidence shows that online violence is more dangerous than physical one due to the ability to access multiple private information, attack many victims, mask the perpetrator's identity, suspend the threat for a long time and spread over time and space. The study aimed to measure the magnitude of cyber harassment in Tanzanian higher learning institutions and to assess institutional sensitivity to ICT-mediated gender-based violence. It was carried out in 4 higher learning institutions in Tanzania: Mwalimu Nyerere Memorial Academy and Institute of Finance Management in Dar es Salaam and SAUT, and the University of Dodoma, where a survey questionnaire was distributed to 400 students and 40 key informants were interviewed. It was found that in each institution, the majority of female students experienced online harassment on social media perpetrated by ex-partners, male students, and university male teaching staff. The perpetrators compelled the female students to post nude pictures, have sexual relations with them, or utilize the posted private photographs to force female students to practice online or offline sexual relations. These threats seem to emanate from social-cultural beliefs about the subordinate position of women in society and that women's bodies are perceived as sex objects. It is therefore concluded that cyberspace provides an alternative space for perpetrators to exercise violence towards women.

Keywords: cyberstalking, embodiment, gender-based violence, internet

Procedia PDF Downloads 36

Authors: Zohreh Bang Tavakoli, Shuktika Chatterjee

Abstract:

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

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

Procedia PDF Downloads 152

Authors: Jun Ming Moey, Zhiyaun Chen, David Nicholson

Abstract:

Bad actors are often hard to detect in data that imprints their behaviour patterns because they are comparatively rare events embedded in non-bad actor data. An unsupervised machine learning framework is applied here to detect bad actors in financial crime datasets that record millions of transactions undertaken by hundreds of actors (<0.01% bad). Specifically, the framework combines ‘shallow’ (PCA, Isolation Forest) and ‘deep’ (Autoencoder) methods to detect outlier patterns. Detection performance analysis for both the individual methods and their combination is reported.

Keywords: detection, machine learning, deep learning, unsupervised, outlier analysis, data science, fraud, financial crime

Procedia PDF Downloads 90

Authors: Ratna Kuswardani

Abstract:

This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

Procedia PDF Downloads 146

Authors: Suleiman Ahmed Badayi

Abstract:

Corporate governance literature is very wide and involves several empirical studies conducted on the relationship between board structure, composition and firm performance. The separation of ownership and control in organizations were aimed at reducing the losses suffered by the investors in the event of financial scandals. This paper reviewed the theoretical and empirical literature on the relationship between board composition and its impact on firm performance. The findings from the studies provide different results while some are of the view that board structure is related to firm performance, many empirical studies indicates no relationship. However, others found a U-shape relationship between firm performance and board structure. Therefore, this study argued that board structure is not much significant to determine the financial performance of a firm.

Keywords: board structure, composition, firm performance, corporate governance

Procedia PDF Downloads 557

Authors: Leonie Jooste

Abstract:

The main purpose of this article is to explore the ethical values of accounting students at Universities and Business Managers. Financial fraud (earnings management) is continuing to exist and published in literature and social media. However, irrespective of extensive publication, and academic research, financial fraud is still happening or still being committed. The student of today may be the manager in the future. In a study by Bruns and Merchant, the authors found that the morality of short-term earnings management was of little concern to researchers and accounting practitioners. However, in the light of increased financial frauds and failures, new and increased emphasis has been placed on the importance of the concepts of earnings quality, earnings management practices, and the inclusion of business ethics in accounting syllabi. This study uses a quantitative analysis related to the Bruns and Merchant survey of accounting students. 59 accounting students in the MENA area were surveyed in 2022 to measure their ethical values regarding earning management practices in organisations. The results of this survey were compared the surveys in 2013 to determine if courses in business ethics offered at the university influenced the perceptions of students on unethical behaviour in business practices. For the data analysis, the mean values and significant differences were calculated and compared. Overall, the results showed that there was hardly any significant difference between the two surveys.

Keywords: ethics, earnings management, corporate social responsibility, business courses.

Procedia PDF Downloads 113

Authors: Norashikin Ismail, Nadia Anridho

Abstract:

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

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

Procedia PDF Downloads 181

Authors: Juan Pedro Aznar Alarcon, Josep Maria Sayeras Maspera

Abstract:

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

Keywords: Airbnb, profitability, hospitality industry, game theory

Procedia PDF Downloads 340

Authors: Mariana Goncalves, Marlene Matos

Abstract:

Despite the scientific attention that it has received, the research on the victimization of women continues to neglect some factors that may enhance the risk of women to victimization. This study sought to identify the prevalence and the lifelong trajectories of multiply victimized women (childhood, adolescence, and adulthood), the co-occurrence of different types of victimization, the contexts of occurrence and emotional adjustment and resilience. We used a convenience sample of 120 women multiply victimized, including 35 Portuguese natives and 85 immigrant women (e.g., Brazilian, African) who were recruited from support institutions and shelters. The results documented the similarities and differences concerning victimization between these groups and the intersectional factors that may elucidate vulnerability to victimization. There was a high co-occurrence of types of victimization, particularly in adulthood. The victimization reported occurred frequently in different contexts: familiar, workplace and helping institutions. A higher number of victimization experiences was related with more emotional symptomatology, less familiar cohesion and less social resources. The implications of the results are discussed.

Keywords: multiple victimization, lifetime, natives, immigrants, prevalence, emotional adjustment

Procedia PDF Downloads 347

Authors: Thi Phuong Lan Nguyen

Abstract:

The English Language Teacher Education (ELTE) in Vietnam is rapidly changing to address the new requirements of the globalization and socialization era. Although there has been a range of investments and innovation in policy and curriculum, tertiary educators and learners do not engage in the enactment. It is vital to understand the practices at the tertiary education level. The study is to understand the higher education curriculum development policy, both in theory and in practice across four representatives of ELTE institutions in the North of Vietnam. The lecturers’ perceptions about the extent to which the enacted curriculum is aligned with national standards will be explored. Nineteen policy documents, seventy surveys, and twelve interviews with lecturers and instructional leaders across these four Vietnamese Northern ELTE institutions have been analyzed to investigate how the policy shape the practice. The two most significant findings are (i) a low level of alignment between curriculum and soft-skills standards of the graduates required by the Vietnamese Ministry of Education and Training (MOET) and (ii) incoherence between current national policy and these institutions’ implementation. In order to address these gaps, it is strongly recommended that curriculum needs to be further developed, focusing more on the institutional outcomes, MOET’s standards, and the social demands in times of globalization. More importantly, professional development in ELTE is vital for a range of curriculum and educational policy stakeholders. The study helps to develop the English teaching profession in Vietnam in a systematic way, from policymakers to implementers, and from instructors to learners. Its significance lies in its relevance to English teaching careers, particularly within the researcher’s specific context, yet also remains relevant to ELTE in other parts of Vietnam and in other EFL (English as a Foreign Language) countries.

Keywords: curriculum, English language teaching education, policy implementation, standard, teaching practice

Procedia PDF Downloads 231

Authors: Faustina Masocha

Abstract:

This study sought to determine if the Covid-19 pandemic played a disruptive role in the signalling effect of dividend increases for the Top 40 companies listed on the Johannesburg Stock Exchange. With the use of Event Study Methodologies, it was found that dividend increases that were announced in the 2018 and 2019 financial years resulted in Cumulative Abnormal Returns (CARs) that were significantly different from zero, as confirmed by a p-value of 0,0300. This resulted in the conclusion that, under normal circumstances, dividend increases follow the precepts outlined in signalling theories which indicate that the announcement of dividend increases sent positive signals about the expected financial performance of a company. To prove the notion that Covid-19 plays a disruptive role on the signalling hypothesis, it was found from both parametric and non-parametric tests of significance that CARs related to dividend increases that were announced during the 2020 and 2021 financial years, when the Covid-19 pandemic was at its peak, were not significantly different from zero. Therefore, although the dividend increases still resulted in some CARs, such CARs were not statistically different from zero to confirm the signalling hypothesis. A p-value of 0.9830 from parametric t-tests and a p-value of 0.8971 from the Wilcoxon signed-rank test were used as a gauge that led to the conclusion that Covid-19 plays a disruptive effect on the signalling process of dividend increases.

Keywords: cumulative abnormal returns, dividend increases, event study methodology, signalling

Procedia PDF Downloads 109

Authors: Tatiana Belmonte dos Santos Rodrigues

Abstract:

This is a comparative study between the training process of teachers of English as a foreign language in a Brazilian institution and an Italian institution, analyzing the academic curriculum, which includes courses mandatory internship activities, among other curricular aspects, and investigating the motivations that lead pre-service teachers to pursue a teaching career. The two institutions involved in this research are considered the oldest in Brazil, the Federal University of Amazonas, created in 1909, and the oldest in Italy, the University of Bologna, created in 1088. The general problem, or guiding question of this research, therefore, is: What is the role of the academic curriculum in motivating and consolidating the teaching of English as a Foreign Language (EFL) as a professional career? The hypothesis be investigated is that the degree courses of the two institutions apply in their curricula the pedagogical contours described in Shulman (2005), essential for the consolidation of the specificities of professional teacher training, which would lead to the strengthening of motivation pre-service professors to remain in this professional career plan, both for those who have already entered the course with pre-established external or internal motivations and for those who entered without apparent motivation. This is qualitative research (CRESWELL, 2007), with the application of field research, where documental analysis of the academic curriculum was carried out together with interviews with preservice teachers of the two institutions and analysis through interpretivism (MERTENS, 2010). The curriculum was analyzed in the light of Shulman (2005) and the interviewees' motivational discourse were analyzed from the perspective of Lovely (2012)'s discoveries. At the end, the data was crossed to answer the guiding question of the research, generating the proposed comparative study.

Keywords: preservice teachers, academic curriculum, motivation, english as a foreign language

Procedia PDF Downloads 61

Authors: Satinder Bhatia

Abstract:

Limited Liability Partnerships (LLPs) was a concept introduced in India in 2009. Ever since then, there has been a fierce growth in the number of organizations registered as LLPs outpacing the number of registrations as private companies. Among other benefits extended to LLPs, the audit being mandated only for LLPs having a turnover of at least Rs 40 lakhs or capital contribution of Rs 25 lakhs, has been a major attraction. This has resulted in only about 10 per cent of LLPs coming under mandatory audit. Even for such companies, the accounting standards to be followed in the preparation of financial statements have not been specified. The Revised Indian Accounting Standards (Revised IndAS) which are aligned with IFRS to a great extent, may apply to LLPs only under limited conditions. Thus, the veracity of even the audited financial statements of LLPs can be questioned. If in future, these LLPs would like to list on a stock exchange to raise capital, there can be serious hurdles if investors do not find the financial statements to be reliable and consistent. LLPs are generally governed by country-specific rules in the area of accounts and audit. Thus, such rules vary across UK, EU and the USA. Some countries have adopted the IFRS for SMEs and since LLPs can be referred to as SMEs; they would come under the ambit of these IFRS provisions. Besides, as the scope of audit widens to cover qualitative information in addition to quantitative data, audit of LLPs has now acquired a new meaning and a new urgency as demands for at least limited purpose audits are arising from different stakeholders including lenders, suppliers, customers and joint venture partners.

Keywords: audit disclosures, audit quality, guidance for SMEs, non-audit services

Procedia PDF Downloads 151

Authors: Brenda Margaret Behan

Abstract:

Kenya is a water-stressed country with highly varied socio-ecological environments in its devolved county system, and is currently implementing a polycentric water governance system; this paper examines the importance of social capital in community-based natural resource management and its role in supporting good water governance systems in the Kenya context. Through a robust literature review of theory and case studies, specific aspects of social capital are examined to determine their importance in the implementation of local community-based water management arrangements which support and complement the more formal institutions outlined in the 2002 and 2016 Water Acts of Kenya. Water is an increasingly important and scarce resource not only for Kenya, but for many communities across the globe, and lessons learned in the Kenya context can be useful for other countries and communities faced with similar challenges. Changing climates, increasing populations, and increased per capita consumption of water is contributing to a situation in which the management of water resources will be vital to community resilience. Community-based natural resource management is widely recognized as a building block and component of wider water resource management systems, and when properly conducted can provide a way to enable sustainable use of resources and empower communities. Greater attention to the social and cultural norms and traditional institutions associated with a community’s social capital can lead to better results for Kenya’s polycentric governance of water. The key findings and recommendations from this research show that in Kenya, traditional institutions need to be understood and integrated into governance systems; social values and cultural norms have a significant impact on the implementation of community-based water management efforts; and social capital is a dynamic concept which influences and is influenced by policies and practices. The community-based water management approach will continue to be a key cornerstone for Kenya’s polycentric water governance structure, especially in the more remote arid and semi-arid lands; thus, the successful integration of social capital aspects into planning and implementation will contribute to a strengthened, sustainable, and more equitable national water governance system. Specific observations and recommendations from this study will help practitioners and policymakers to better craft community-based interventions.

Keywords: community-based natural resource management, social capital, traditional institutions, water governance

Procedia PDF Downloads 162

Authors: Mohammad Hosein Panahi, Naser Yazdani

Abstract:

we present a technical trading strategy that leverages the FinBERT language model and financial news analysis with a focus on news related to a subset of Nasdaq 100 stocks. Our approach surpasses the baseline Range Break-out strategy in the Bitcoin market, yielding a remarkable 24.8% increase in the win ratio for all Friday trades and an impressive 48.9% surge in short trades specifically on Fridays. Moreover, we conduct rigorous hypothesis testing to establish the statistical significance of these improvements. Our findings underscore considerable potential of our NLP-driven approach in enhancing trading strategies and achieving greater profitability within financial markets.

Keywords: quantitative finance, technical analysis, bitcoin market, NLP, language models, FinBERT, technical trading

Procedia PDF Downloads 62

Authors: Theophilus Adedokun, Sylvia Zulu, Felix Awung, Sam Usadolo

Abstract:

The proliferation of technology into teaching process has brought about transformation into the field of education. Language teaching is not left behind from this tremendous transformation which has drastically altered the teaching of language. It is, however, appalling that some language instructors seem to possess negative attitudes toward the use of technology in language teaching, which in this study is referred to as Computer Assisted Language Teaching (CALT). The purpose of this study, therefore, is to explore sustainable lesson that can be learnt from the attitudes of language instructors towards language teaching in some public universities. The knowledge gained from this study could inform and advance the use of Computer Assisted Language Teaching. This study considers the historical progression of CALT and recommends that a fundamental approach is required for institutions to develop and advance the use of CALT for teaching. A review of sustainable lessons learnt from the attitudes of language instructors towards CALT are provided, and the CALT experience of 3 institutions are described. Drawing from this succinct description, this study makes recommendations on how operative CALT could be executed on a personal and institutional basis.

Keywords: attitudes, language instructors, sustainable lessons, computer assisted language teaching

Procedia PDF Downloads 79

Authors: Farrah Anne Robert, Robert McClelland, Seng Kiat Kok

Abstract:

Higher education service quality is widely regarded as key factors in the long term success of a higher education institution in attracting and retaining students. This research attempted to establish the impact of service quality on recruiting and retaining students in private higher education institutions (PHEI’s). 501 local and international students responded to a 49 item educational service measure questionnaire from PHEIs in Kuala Lumpur and Selangor, two states in Malaysia which together account for 60% of private colleges in Malaysia. Results from this research revealed that, inter-alia, facilities, employability, management and administration services, academic staff competence, curriculum and student overall experiences were key driving factors in attracting and retaining students. Lack of “campus-like building” facilities and lecturer’s effectiveness in delivering lectures were keys concerns in the provision of service quality by PHEI’s in Malaysia. Over the last decade, the Government of Malaysia has set a target of recruiting 200,000 international students to study in Malaysia by PHEI’s and PHEI’s have failed to achieve this target. This research suggests that service quality issues identified above are impacting efforts to recruit and retain both local and international students by PHEIs. The researcher recommends that further and detailed research be carried on these factors and its impact on recruitment and retention. PHEI administrators can benefit from this research by conducting an evaluation of service measures delivered in their institutions and take corrective measures. Prospective students can benefit from this study by including in their choice factors the “service quality delivery” of PHEI’s when deciding to enroll in a particular PHEI.

Keywords: higher education, recruitment, retention, service quality

Procedia PDF Downloads 373

Authors: Lina Najafian, Hamidreza Vakilifard

Abstract:

The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

Procedia PDF Downloads 156

Authors: Luisa Kynast

Abstract:

It is obvious that buildings and infrastructure are highly impacted by climate change (CC). Both, design and material of buildings need to be resilient to weather events in order to shelter humans, animals, or goods. As well as buildings and infrastructure are exposed to weather events, the construction process itself is generally carried out outdoors without being protected from extreme temperatures, heavy rain, or storms. The production process is restricted by technical limitations for processing materials with machines and physical limitations due to human beings (“outdoor-worker”). In future due to CC, average weather patterns are expected to change as well as extreme weather events are expected to occur more frequently and more intense and therefore have a greater impact on production processes and on the construction businesses itself. This research aims to examine this impact by analyzing an association between responses to CC and financial performance of businesses within the construction industry. After having embedded the above depicted field of research into the resource dependency theory, a literature review was conducted to expound the state of research concerning a contingent relation between climate change adaptation measures (CCAM) and corporate financial performance for construction businesses. The examined studies prove that this field is rarely investigated, especially for construction businesses. Therefore, reports of the Carbon Disclosure Project (CDP) were analyzed by applying content analysis using the software tool MAXQDA. 58 construction companies – located worldwide – could be examined. To proceed even more systematically a coding scheme analogous to findings in literature was adopted. Out of qualitative analysis, data was quantified and a regression analysis containing corporate financial data was conducted. The results gained stress adaptation measures as a response to CC as a crucial proxy to handle climate change impacts (CCI) by mitigating risks and exploiting opportunities. In CDP reports the majority of answers stated increasing costs/expenses as a result of implemented measures. A link to sales/revenue was rarely drawn. Though, CCAM were connected to increasing sales/revenues. Nevertheless, this presumption is supported by the results of the regression analysis where a positive effect of implemented CCAM on construction businesses´ financial performance in the short-run was ascertained. These findings do refer to appropriate responses in terms of the implemented number of CCAM. Anyhow, still businesses show a reluctant attitude for implementing CCAM, which was confirmed by findings in literature as well as by findings in CDP reports. Businesses mainly associate CCAM with costs and expenses rather than with an effect on their corporate financial performance. Mostly companies underrate the effect of CCI and overrate the costs and expenditures for the implementation of CCAM and completely neglect the pay-off. Therefore, this research shall create a basis for bringing CC to the (financial) attention of corporate decision-makers, especially within the construction industry.

Keywords: climate change adaptation measures, construction businesses, financial implication, resource dependency theory

Procedia PDF Downloads 137

Authors: Shashwat Gangwal

Abstract:

This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: bitcoin, financial instruments, portfolio management, risk adjusted return

Procedia PDF Downloads 228