Search results for: intellectual property assets

Authors: Andrea Paltrinieri, Alberto Dreassi, Stefano Miani, Alex Sclip

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The financial crises caused a collapse in prices of most asset classes, raising the attention on alternative investments such as Sukuk, a smaller, fast growing but often misunderstood market. We study diversification benefits of Sukuk, their correlation with other asset classes and the effects of their inclusion in investment portfolios of institutional and retail investors, through a comprehensive comparison of their risk/return profiles during and after the financial crisis. We find a beneficial performance adjusted for the specific volatility together with a lower correlation especially during the financial crisis. The distribution of Sukuk returns is positively skewed and leptokurtic, with a risk/return profile similarly to high yield bonds. Overall, our results suggest that Sukuk present diversification opportunities, a significant volatility-adjusted performance and lower correlations especially during the financial crisis. Our findings are relevant for a number of institutional investors. Long term investors, such as life insurers would benefit from Sukuk’s protective features during financial crisis yet keeping return and growth opportunities, whereas banks would gain due to their role of placers, advisors, market makers or underwriters.

Keywords: sukuk, zero beta asset, asset allocation, sukuk market

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Authors: Mohammed Nishat, Ahmad Ghazali

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This study empirically examines the corporate governance and firm performance, and tries to evaluate the governance, ownership and control related variables which are hypothesized to affect on firms performance. This study tries to evaluate the effectiveness of corporate governance mechanism to achieve high level performance among companies listed on the Karachi Stock Exchange (KSE) over the period from 2005 to 2008. To measure the firm performance level this research uses three measures of performance; Return on assets (ROA), Return on Equity (ROE) and Tobin’s Q. To link the performance of firms with the corporate governance three categories of corporate governance variables are tested which includes governance, ownership and control related variables. Fixed effect regression model is used to test the link between corporate governance and firm performance for 267 KSE listed Pakistani firms. The result shows that corporate governance variables such as percentage block holding by individuals have positive impact on firm performance. When CEO is also the chairperson of board then it is found that firm performance is adversely affected. Also negative relationship is found between share held by insiders and performance of firm. Leverage has negative impact on the performance of the firm and firm size is positively related with the firms performance.

Keywords: corporate governance, performance, agency cost, Karachi stock market

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Authors: Andreas Livera, Spyros Theocharides, Michalis Florides, Charalambos Anastassiou

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A main challenge in the quest for ensuring quality of operation, especially for photovoltaic (PV) systems, is to safeguard the reliability and optimal performance by detecting and diagnosing potential failures and performance losses at early stages or before the occurrence through real-time monitoring, supervision, fault detection, and predictive maintenance. The purpose of this work is to present the functionalities and results related to the development and validation of a software platform for PV assets diagnosis and maintenance. The platform brings together proprietary hardware sensors and software algorithms to enable the early detection and prediction of the most common and critical faults in PV systems. It was validated using field measurements from operating PV systems. The results showed the effectiveness of the platform for detecting faults and losses (e.g., inverter failures, string disconnections, and potential induced degradation) at early stages, forecasting PV power production while also providing recommendations for maintenance actions. Increased PV energy yield production and revenue can be thus achieved while also minimizing operation and maintenance (O&M) costs.

Keywords: failure detection and prediction, operation and maintenance, performance monitoring, photovoltaic, platform, recommendations, predictive maintenance

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Authors: M. Kucukali Ozturk, B. Nergis, C. Candan

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Air permeability plays an important role for applications such as filtration, thermal and acoustic insulation. The study discussed in this paper was conducted in an attempt to investigate air permeability property of various combinations of nonwovens. The PROWHITE air permeability tester was used for the measurement of the air permeability of the samples in accordance with the relevant standards and a comparative study of the results were made. It was found that the fabric mass per unit area was closely related to the air-permeability. The air permeability decreased with the increase in mass per unit area. Additionally, the air permeability of nonwoven fabrics decreased with the increase in thickness. Moreover, air permeability of multilayered SMS nonwoven structures was lower than those of single layered ones.

Keywords: air permeability, mass per unit area, nonwoven structure, polypropylene nonwoven, thickness

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Authors: Amal Alatar

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The architectural legacy is considered a significant factor, which left its features on the shape of buildings and historical and archaeological sites all over the world. In this framework, this paper focuses on Umm Qais town, located in Northern Jordan, which includes archaeological remains of the ancient Decapolis city of Gadara, still the witness of the originality and architectural identity of the city. 3D modeling is a public asset and a valuable resource for cultural heritage. This technique allows the possibility to make accurate representations of objects, structures, and surfaces. Hence, these representations increase valuable assets when thinking about cultural heritage. The Heritage Building Information Modeling (HBIM) is considered an effective tool to represent information on Cultural Heritage (CH) which can be used for documentation, restoration, conservation, presentation, and research purposes. Therefore, this paper focus on the interdisciplinary project of the virtualization of the West Theater in Gadara (Umm Qais) for 3D documentation and structural studies. The derived 3D model of the cultural heritage is the basis for further archaeological studies; the challenges of the work stay in the acquisition, processing, and integration of the multi-resolution data as well as their interactive visualization.

Keywords: archaeology, 3D modeling, Umm Qais, culture heritage, Jordan

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Authors: Shih-Yan Chen, Shin-Shin Kao

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In this paper, a thorough review about dual-cubes, DCn, the related studies and their variations are given. DCn was introduced to be a network which retains the pleasing properties of hypercube Qn but has a much smaller diameter. In fact, it is so constructed that the number of vertices of DCn is equal to the number of vertices of Q2n +1. However, each vertex in DCn is adjacent to n + 1 neighbors and so DCn has (n + 1) × 2^2n edges in total, which is roughly half the number of edges of Q2n+1. In addition, the diameter of any DCn is 2n +2, which is of the same order of that of Q2n+1. For selfcompleteness, basic definitions, construction rules and symbols are provided. We chronicle the results, where eleven significant theorems are presented, and include some open problems at the end.

Keywords: dual-cubes, dual-cube extensive networks, dual-cube-like networks, hypercubes, fault-tolerant hamiltonian property

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Authors: Chak Kwong Lau

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Many buildings in Hong Kong are graced with enchanting works of Chinese calligraphy. An excellent example is Tao Fong Shan Christian Center founded by a Norwegian missionary, Karl Ludvig Reichelt (1877-1952) in 1930. Adorned with many inspiring works of Chinese calligraphy, the center functions as a place for the study of Christianity where people of different religions can meet to have religious discussions and intellectual exchanges. This paper examines the pivotal role played by Chinese calligraphy in creating a significant context for the center to fulfill her visions and missions. The methodology of this research involves stylistic and textual analyses of works of calligraphy, in particular through an examination and interpretation of their extended meanings in terms of architectural symbology and social and cultural contexts. Findings showed that Chinese calligraphy was effectively used as a powerful vehicle for a purposeful development of contextual Christian spirituality in Hong Kong.

Keywords: Chinese calligraphy, Hong Kong architecture, Hong Kong calligraphy, Johannes Prip-Møller, Karl Ludvig Reichelt, Norwegian missionary, Tao Fong Shan Christian Center, traditional Chinese architecture

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Authors: Muhammad Harya Ramdhoni, Nidzam Sulaiman, Muhammad Ridwan

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The Helsinki Agreement between the Indonesian Government (RI) and the Aceh Liberation Movement (GAM) on 15th Aug. 2005 fails to reconcile social and political turmoil in Aceh Darussalam (NAD). The political powers that were once unified in their struggle against Indonesian Government prior to this agreement have now become divided due to differences in political and economic interests. Using descriptive analysis and intellectual discourse, this paper proposes that the Aceh Sultanate be revived as an attempt to unite these divided political powers and to curtail potential conflicts in the area. This proposal is based on three assumptions. First, the Aceh Sultanate is the only Sultanate in Sumatera that did not fall victim to the social revolution post 1945 proclamation of independence. Second, the Acehnese still acknowledge the Sultanate as a sovereign political power even though it was defeated by the Dutch in 1904. Third, there are emotional, historical and cultural ties between the Acehnese and the Sultanate as they still perceived them to be their patron. Consequently, the Sultanate is the unifying element of all political powers in the area. This, however, is not an attempt to reinstate feudalism in Aceh. It only seeks to facilitate the political reconciliation process in Aceh Darussalam founded on sociological and historical background of locals.

Keywords: Sultanate Aceh, political reconciliation, political power, patron-client

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Authors: Umar Sheikh Tahir

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This paper focuses on the historiography of the relationship between Logic and Arabic grammar in the Muslim Medieval Ages (a period between 750 and 1100/ 150 and 500 Ah). This sensation appears in the famous debate among many others between grammarians represented by abū Sa'id al-Sairafī and logicians represented by abū Bishr Mattā on Logic and its validity. This incident took place in Baghdad around 932 AD. However, this study singlehandedly samples these debates as the base for the contributions of Islamic philosophers to philosophy of language as well as Epistemology. The question that shapes this research is: What is the intellectual development for Muslim thinkers to philosophy of language in regards to this debate? The current research addresses the Arabic grammar and logical debates by conducting historiography to emphasize on Islamic philosophers’ concerns about this issue. Consequently, this debate generates philosophical phenomena and resolutions in deep-thinking. In addition, these dialogues create a language impression for Philosophy in Islamic world from the period under study. Thereupon, Islamic philosophers’ discourse on this phenomenon serves as contribution to the Philosophy of Language.

Keywords: debates, epistemology, grammar and grammarians, Islamic philosophy, philosophy language, logic

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Authors: Kever Bruno Paradelo Gomes, Rosana Carvalho Cristo Martins

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Payment for Environmental Services (PSA) has been a strategy used since the late 1990s by Latin American countries to finance environmental conservation. Payment for Environmental Services has been absorbing a growing amount of time in the discussions around environmentally sustainable development strategies in the world. In Brazil, this theme has permeated the discussions since the publication of the new Forest Code. The objective of this work was to verify the perception of the resident farmers in the region of Ponte Alta, Gama, Federal District, Brazil, on environmental legislation and Payments for Environmental Services. The work was carried out in 99 rural properties of the family farmers of the Rural Nucleus Ponte Alta, Administrative Region of Gama, in the city of Brasília, Federal District, Brazil. The present research is characterized methodologically as a quantitative, exploratory, and descriptive nature. The data treatment was performed through descriptive statistical analysis and hypothesis testing. The perceptions about environmental legislation in the rural area of Ponte Alta, Gama, DF respondents were positive. Although most of the family farmers interviewed have some knowledge about environmental legislation, it is perceived that in practice, the environmental adequacy of property is ineffective given the current situation of sustainable rural development; there is an abyss between what is envisaged by legislation and reality in the field. Thus, as in the reports of other researchers, it is verified that the majority of respondents are not aware of PSA (62.62%). Among those interviewed who were aware of the subject, two learned through the course, three through the university, two through TV and five through other people. The planting of native forest species on the rural property was the most informed practice by farmers if they received some Environmental Service Payment (PSA). Reflections on the environment allow us to infer that the effectiveness and fulfillment of the incentives and rewards in the scope of public policies to encourage the maintenance of environmental services, already existing in all spheres of government, are of great relevance to the process of environmental sustainability of rural properties. The relevance of the present research is an important tool to promote the discussion and formulation of public policies focused on sustainable rural development, especially on payments for environmental services; it is a space of great interest for the strengthening of the social group dedicated to production. Public policies that are efficient and accessible to the small rural producers become decisive elements for the promotion of changes in behavior in the field, be it economic, social, or environmental.

Keywords: forest code, public policy, rural development, sustainable agriculture

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Authors: Wei-Han Wang, Hsiang-Yu Yu, Mau-Sun Hua

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Theory of Mind (ToM) refers to the ability to infer another’s mental state. With appropriate ToM, one can behave well in social interactions. A growing body of evidence has demonstrated that patients with temporal lobe epilepsy (TLE) may have damaged ToM due to impact on regions of the underlying neural network of ToM. However, the question of whether there is cerebral laterality for ToM functions remains open. This study aimed to examine whether there is cerebral lateralization for ToM abilities in TLE patients. Sixty-seven adult TLE patients and 30 matched healthy controls (HC) were recruited. Patients were classified into right (RTLE), left (LTLE), and bilateral (BTLE) TLE groups on the basis of a consensus panel review of their seizure semiology, EEG findings, and brain imaging results. All participants completed an intellectual test and four tasks measuring basic and advanced ToM. The results showed that, on all ToM tasks; (1)each patient group performed worse than HC; (2)there were no significant differences between LTLE and RTLE groups; (3)the BTLE group performed the worst. It appears that the neural network responsible for ToM is distributed evenly between the cerebral hemispheres.

Keywords: cerebral lateralization, social cognition, temporal lobe epilepsy, theory of mind

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Authors: Jamal Abdi

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This paper is largely a response/critique of Samuel P. Huntington´s Clash of Civilizations thesis. The overriding argument is that Huntington´s thesis is characterized by failure to distinguish between ´groups´ and ´categories´. Multinational civilizations overcoming their internal collective action problems, which would enable them to pursue a unified strategy vis-à-vis the West, is a rather foundational assumption in his theory. Without assigning sufficient intellectual attention to the processes through which multinational civilizations may gain capacity for concerted action i.e. become a group, he contended that the post-cold-war world would be shaped in large measure by interactions among seven or eight major civilizations. Thus, failure in providing a convincing analysis of multi-national civilizations´ transition from categories to groups is a significant weakness in Huntington´s clash theory. It is also suggested that so-called Islamic terrorism and the war on terror is not to be taken as an expression of presence of clash between a Western and an Islamic civilization, as terrorist organizations would be superfluous in a world characterized by clash of civilizations. Consequences of multinational civilizations becoming a group are discussed in relation to contemporary Western superiority.

Keywords: categories, civilizations, clash, groups, groupness

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Authors: Seok Hong Min, Tae Kwon Ha

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In this study, thermal fatigue properties of 400 series ferritic stainless steels have been evaluated in the temperature ranges of 200-800oC and 200-900oC. Systematic methods for control of temperatures within the predetermined range and measurement of load applied to specimens as a function of temperature during thermal cycles have been established. Thermal fatigue tests were conducted under fully constrained condition, where both ends of specimens were completely fixed. It has been revealed that load relaxation behavior at the temperatures of thermal cycle was closely related with the thermal fatigue property. Thermal fatigue resistance of 430J1L stainless steel is found to be superior to the other steels.

Keywords: ferritic stainless steel, automotive exhaust, thermal fatigue, microstructure, load relaxation

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Authors: Vahid Bayrami Rad

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Ever since humans developed a collective way of life to the development of urbanization, the concern of security has always been considered one of the most important challenges of life. To protect property, locks have always been a practical tool. With the advancement of technology, the form of locks has changed from mechanical to electric. One of the most widely used fields of using artificial intelligence is its application in the technology of surveillance security systems. Currently, the technologies used in smart anti-theft door handles are one of the most potential fields for using artificial intelligence. Artificial intelligence has the possibility to learn, calculate, interpret and process by analyzing data with the help of algorithms and mathematical models and make smart decisions. We will use Arduino board to process data.

Keywords: arduino board, artificial intelligence, image processing, solenoid lock

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Authors: Sarkar Humayun Kabir

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This paper aims to investigate whether ethical investment instruments could contribute to stability in financial markets. In order to address the main issue, the study investigates the stability of return in seven conventional and Islamic equity markets of Asia, Europe and North America and in five major commodity markets starting from 1996 to June 2012. In addition, the study examines the unconditional correlation between returns of the assets under review to investigate portfolio diversification benefits of investors. Applying relevant methods, the study finds that investors may enjoy sustainable returns from their portfolios by investing in ethical financial instruments such as Islamic equities. In addition, it should be noted that most of the commodities, gold in particular, are either low or negatively correlated with equity returns. These results suggest that investors would be better off by investing in portfolios combining Islamic equities and commodities in general. The sustainable returns of ethical investments has important implications for the investors and markets since these investments can provide stable returns while the investors can avoid production of goods and services which believes to be harmful for human and the society as a whole.

Keywords: financial sustainability, ethical investment instruments, islamic equity, dynamic conditional correlation, conditional volatility

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Authors: S. Hasan, I. Beshara

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Infrastructure maintenance is a great challenge facing sustainable development of infrastructure assets due to the high cost of passive implementation of a sustainable maintenance plan. An assessment model of sustainable maintenance for highway infrastructure projects in Egypt is developed in this paper. It helps in improving the implementation of sustainable maintenance criteria. Thus, this paper has applied the analytical hierarchy processes (AHP) to rank and explore the weight of 26 assessment indicators using three hierarchy levels containing the main sustainable categories and subcategories with related indicators. Overall combined weight of each indicator for sustainable maintenance evaluation has been calculated to sum up to a sustainable maintenance performance index (SMI). The results show that the factor "Preventive maintenance cost" has the highest relative contribution factor among others (13.5%), while two factors of environmental performance have the least weights (0.7%). The developed model aims to provide decision makers with information about current maintenance performance and support them in the decision-making process regarding future directions of maintenance activities. It can be used as an assessment performance tool during the operation and maintenance stage. The developed indicators can be considered during designing the maintenance plan. Practices for successful implementation of the model are also presented.

Keywords: analytical hierarchy process, assessment performance Model, KPIs for sustainable maintenance, sustainable maintenance index

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Authors: Mohsen Nouraei, Mohammad Molavi

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Muslim scholars for a long time have tried to prove the necessity of prophecy through the Qur'an verses, Hadith's concepts, and rational arguments. According to them, the human being cannot find his welfare way based on wisdom only. They emphasize that divine teaching of the prophets accompanied by wisdom (reason) helps people to find the best way of life and consequently they achieve perfection. In contrast, some believe that mentioned necessity is helpful for primitive and ancient societies, and, matured man in the modern era has flourished his wisdom and reached the peak of maturity. Hence, the modern human can recognize good and evil rely on the individual and social wisdom and as a result they can reach to the perfection without revelation and prophetic teaching. The essay via descriptive-analytical method has attempted to analyze and critic this thought through the study of Mottahari's works as a modern prominent scholars. Findings show that AyatuAllah Mottahari believes that not only modern human intellectual development is not needless of prophecy, but also they need religion and revelation teaching exactly like primitive and ancient societies. Wisdom inherent limitations common between primitive and modern human are the main reason of AyatuAllah Mottahari.

Keywords: wisdom, modernity, prophecy, AyatuAllah Mottahari

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Authors: Babak Pourghahramani

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One of the modern crimes against property and ownership in the cyber-space is the computer fraud. Despite being modern, the aforementioned crime has its roots in the principles of religious jurisprudence. In some cases, this crime is compatible with the traditional regulations and that is when the computer is considered as a crime commitment device and also some computer frauds that take place in the context of electronic exchanges are considered as crime based on the E-commerce Law (approved in 2003) but the aforementioned regulations are flawed and until recent years there was no comprehensive law in this regard; yet after some years the Computer Crime Act was approved in 2009/26/5 and partly solved the problem of legal vacuum. The present study intends to investigate the computer fraud according to Iran's Computer Crime Act and by taking into consideration the international documents.

Keywords: fraud, cyber fraud, computer fraud, classic fraud, computer crime

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Authors: Daniel Schimmelpfennig

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This paper attempts to delineate the idea to curate the leveling up for whole-systems change. Curation is the act fo select, organize, look after, or present information from a professional point of view through expert knowledge. The trans-paradigmatic, trans-contextual, trans-disciplinary, trans-perspective of trans-media futures studies hopes to enable a move from a monochrome intellectual pursuit towards breathing a higher dimensionality. Progressing to the next level to equip actors for whole-systems change is in consideration of the commonly known symptoms of our time as well as in anticipation of future challenges, both a necessity and desirability. Systems of collective intelligence could potentially scale regenerative, adaptive, and anticipatory capacities. How could such a curation then be enacted and implemented, to initiate the process of leveling-up? The suggestion here is to focus on the metasystem transition, the bio-digital fusion, namely, by merging neurosciences, the ontological design of money as our operating system, and our understanding of the billions of years of time-proven permutations in nature, biomimicry, and biological metaphors like symbiogenesis. Evolutionary cybernetics accompanies the process of whole-systems change.

Keywords: bio-digital fusion, evolutionary cybernetics, metasystem transition, symbiogenesis, transmedia futures studies

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Authors: Richu J. Babu, Sony Mathew, Sharon Rony Jacob, Soney C. George, Jibin C. Jacob

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Human hair is a non-biodegradable waste available in plenty throughout the world but is rarely explored for applications in engineering fields. Tensile strength of human hair ranges from 170 to 220 MPa. This property of human hair can be made use in the field of making bio-composites[1]. The composite is prepared by commixing the human hair and natural rubber in a two roll mill along with additives followed by vulcanization. Here the concentration of the human hair is varied by fine-tuning the fiber length as 20 mm and sundry tests like tensile, abrasion, tear and hardness were conducted. While incrementing the fiber length up to a certain range the mechanical properties shows superior amendments.

Keywords: human hair, natural rubber, composite, vulcanization, fiber loading

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Authors: Denila Jinny Arulraj, Thillai Rajan Annamalai

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This paper aims to study the relationship between funding sources and firm performance of Indian private limited SMEs using cross-sectional data obtained from a nation-wide census. A unique feature of the study is that it analyses firms that use only one form of external funding. Employing Propensity Score Matching, we find that obtaining any form of external finance has a negative influence on equivalents of profit margin and return on assets and a negative influence on asset turnover of small firms. But, the impact of institutional sources of funding on small enterprises is found to be lesser than that of non-institutional sources of funding. External/institutional sources of funding have a less negative impact on the profit margin for medium enterprises and have no significant influence on other measures of performance. The contribution of this research is the discovery of institutional sources wielding a lesser influence on performance measures considered. It is also found that institutional sources can benefit small enterprises more than medium enterprises.

Keywords: external finance, institutional finance, non-institutional finance, performance, India, SME

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Authors: D. Falliano, D. De Domenico, G. Ricciardi, E. Gugliandolo

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This paper is focused on the mechanical characterization of foamed concrete specimens with protein-based foaming agent. Unlike classic foamed concrete, a peculiar property of the analyzed foamed concrete is the extrudability, which is achieved via a specific additive in the concrete mix that significantly improves the cohesion and viscosity of the fresh cementitious paste. A broad experimental campaign was conducted to evaluate the compressive strength and the indirect tensile strength of the specimens. The study has comprised three different cement types, two water/cement ratios, three curing conditions and three target dry densities. The variability of the strength values upon the above mentioned factors is discussed.

Keywords: cement type, curing conditions, density, extrudable concrete, foamed concrete, mechanical characterization

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Authors: Tarik Bouguerba

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Thomas Heywood was an outstanding, prolific playwright of the period, writing both in prose and verse. Unlike Shakespeare in particular, Heywood could be considered as a playwright who was well informed about Morocco and wrote in greater detail about a possible dialogue among cultures. As it is a historical platform for power relations, The Fair Maid of the West recalled the heroism and excitement of English counterattacks against Spain in the Post-Armada period. This paper therefore pins down the acts of narration and representation of Morocco and Moroccans and examines how the Occident has contributed to the production of the Orient and finally attests to the metamorphosis the plot undergoes in Part I and Part II. As an adventure play, The Fair Maid of the West teaches about, informs of and confirms the existing patterns of virtue in European voyagers and at the same time it asserts how honor and chastity are European par excellence whereas villainy and wickedness are Oriental assets. Once taken captive, these virtues and traits are put into task as the plot disentangles. This paper also examines how the play in both parts generates a whole history of stereotypes about Morocco and unexpectedly subverts this stereotype; such a biased mode of narration of the Orient the playwright took up at first was played down at a later phase in the narrative.

Keywords: Heywood, Occident, Orientalism, Stereotype, Virtue

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Authors: Shin-Shin Kao, Hsiu-Chunj Pan

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Given a graph G. A cycle of G is a sequence of vertices of G such that the first and the last vertices are the same. A hamiltonian cycle of G is a cycle containing all vertices of G. The graph G is k-ordered (resp. k-ordered hamiltonian) if for any sequence of k distinct vertices of G, there exists a cycle (resp. hamiltonian cycle) in G containing these k vertices in the specified order. Obviously, any cycle in a graph is 1-ordered, 2-ordered and 3-ordered. Thus the study of any graph being k-ordered (resp. k-ordered hamiltonian) always starts with k = 4. Most studies about this topic work on graphs with no real applications. To our knowledge, the chordal ring families were the first one utilized as the underlying topology in interconnection networks and shown to be 4-ordered [1]. Furthermore, based on computer experimental results in [1], it was conjectured that some of them are 4-ordered hamiltonian. In this paper, we intend to give some possible directions in proving the conjecture.

Keywords: Hamiltonian cycle, 4-ordered, Chordal rings, 3-regular

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Authors: Samir Srairi

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This paper investigates the impact of the internal corporate governance on bank performance by constructing a corporate governance index (CGI) for 27 Islamic banks operating in five Arab Gulf countries. Using content analysis on the banks’ annual reports for 3 years (2011-2013), the index construction uses information on six important corporate governance mechanisms, namely board structure, risk management, transparency and disclosure, audit committee, Sharia supervisory board and investment account holders. The results demonstrate that Islamic banks adhere to 54% of the attributes addressed in the CGI. The most frequently reported and disclosed elements are Sharia supervisory board followed by board structure and risk management. The findings related to countries revealed that only two countries, the United Arab Emirates and Bahrain, possess a higher level of CGI. Our regression results provide evidence that Islamic banks with higher levels of corporate governance report high operating performance measured by return on assets and net interest margin. Finally, as of the effect of internal and external factors, we identified four variables that were associated with bank performance, namely size, equity, risk and concentration.

Keywords: governance mechanisms, corporate governance index, bank performance, Islamic banks, GCC countries

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Authors: Warda Ajaz

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This study uses the ‘Community Capitals Framework’ (CCF) to develop a community resilience index that can serve as a useful tool for measuring resilience of communities in diverse contexts and backgrounds. CCF is an important analytical tool to assess holistic community change. This framework identifies seven major types of community capitals: natural, cultural, human, social, political, financial and built, and claims that the communities that have been successful in supporting healthy sustainable community and economic development have paid attention to all these capitals. The framework, therefore, proposes to study the community development through identification of assets in these major capitals (stock), investment in these capitals (flow), and the interaction between these capitals. Capital based approaches have been extensively used to assess community resilience, especially in the context of natural disasters and extreme events. Therefore, this study identifies key indicators for estimating each of the seven capitals through an extensive literature review and then develops an index to calculate a community resilience score. The CCF-based community resilience index presents an innovative way of operationalizing the concept of community resilience and will contribute toward decision-relevant research regarding adaptation and mitigation of community vulnerabilities to climate change-induced, as well as other adverse events.

Keywords: adverse events, community capitals, community resilience, climate change, economic development, sustainability

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Authors: Aber Aboalgasm, Rupert Ward, Ruth Taylor, Jonathan Glazzard

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Teaching art by digital means is a big challenge for the majority of teachers of art and artistic design courses in primary education schools. These courses can clearly identify relationships between art, technology, and creativity in the classroom .The aim of this article is to present a modern way of teaching art, using digital tools in the art classroom in order to improve creative ability in pupils aged between 9 and 11 years; it also presents a conceptual model for creativity based on digital art. The model could be useful for pupils interested in learning drawing and using an e-drawing package, and for teachers who are interested in teaching their students modern digital art, and improving children’s creativity. This model is designed to show the strategy of teaching art through technology, in order for children to learn how to be creative. This will also help education providers to make suitable choices about which technological approaches they should choose to teach students and enhance their creative ability. It is also expected that use of this model will help to develop social interactive qualities that may improve intellectual ability.

Keywords: digital tools, motivation, creative activity, education

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Authors: Shahriar Ghammamy, Mehrnoosh Saboony

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Purpose: To evaluate the spectral specification (IR-XRD and SEM) of nano-ciprofloxacin that prepared by up-down method (satellite mill). Methods: the ciprofloxacin was minimized to nano-scale with satellite mill and its characterization evaluated by Infrared spectroscopy, XRD diffraction and semi electron microscope (SEM). Expectation enhances the antibacterial property of nano-ciprofloxacin in comparison to ciprofloxacin. IR spectrum of nano-ciprofloxacin compared with spectrum of ciprofloxacin, and both of them were almost agreement with a difference: the peaks in spectrum of nano-ciprofloxacin were sharper than peaks in spectrum of ciprofloxacin. X-Ray powder diffraction analysis of nano-ciprofloxacin shows the diameter of particles equal to 90.9nm. (on the basis of Scherer Equation). SEM image shows the global shape for nano-ciprofloxacin.

Keywords: antibiotic, ciprofloxacin, nano, IR, XRD, SEM

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Authors: Shahriar Ghammamy, Mehrnoosh Saboony

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Purpose: to evaluate the spectral specification(IR-XRD and SEM) of nano ciprofloxacin that prepared by up-down method (satellite mill). Methods: the ciprofloxacin was minimized to nano-scale with satellite mill and it,s characterization evaluated by Infrared spectroscopy, XRD diffraction and semi electron microscope (SEM). Expectation: to enhance the antibacterial property of nano ciprofloxacin in comparison to ciprofloxacin.IR spectrum of nano ciprofloxacin compared with spectrum of ciprofloxacin, and both of them were almost agreement with a difference: the peaks in spectrum of nano ciprofloxacin was sharper than peaks in spectrum of ciprofloxacin. X-Ray powder diffraction analysis of nano ciprofloxacin showes the diameter of particles equal to 90.9 nm (on the basis of scherrer equation). SEM image showes the global shape for nano ciprofloxacin.

Keywords: antibiotic, ciprofloxacin, nano, IR, XRD, SEM

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Authors: Hardeep

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The aim of this research work to improve the solubility and bioavailability of Simvastatin using a self nanoemulsifying drug delivery system (SNEDDS). Self emulsifying property of various oils including essential oils was evaluated with suitable surfactants and co-surfactants. Validation of a method for accuracy, repeatability, Interday and intraday precision, ruggedness, and robustness were within acceptable limits. The liquid SNEDDS was prepared and optimized using a ternary phase diagram, thermodynamic, centrifugation and cloud point studies. The globule size of optimized formulations was less than 200 nm which could be an acceptable nanoemulsion size range. The mean droplet size, drug loading, PDI and zeta potential were found to be 141.0 nm, 92.22%, 0.23 and -10.13 mV and 153.5nm, 93.89 % ,0.41 and -11.7 mV and 164.26 nm, 95.26% , 0.41 and -10.66mV respectively.

Keywords: simvastatin, self nanoemulsifying drug delivery system, solubility, bioavailability

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