Search results for: and medium enterprises financial institutions

Authors: E. Machinyise

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The main purpose of this study was to investigate the attitudes of parents and teachers towards multilingual medium of instruction in lower primary schools of Zambia. In 2013, the Government of Zambia formulated a language policy which stipulates that regional familiar languages should be used as the medium of instruction (MOI) from grade one to four in all public primary schools, while English is introduced as a subject in the second grade. This study investigated the views of parents and teachers on the use of multilingual medium of instruction in lower primary schools in order to accommodate learners who are not native speakers of regional familiar languages as well as the second languages which are official languages used in class. The study revealed that most parents suggested that teachers who teach lower primary school classes should be conversant with at least the four major local languages of Zambia (Bemba, Nyanja, Tonga and Lozi). In the same vain other parents felt that teachers teaching lower grades should not only be familiar with the regional official language but should be able to speak other dialects found in the region. Teachers teaching in lower primary grade felt that although it is difficult to speak all languages of learners in class, it is important for a teacher of lower grade class to try to accommodate children who are not speakers of the familiar languages by addressing them in the language they understand. Both teachers and parents highlighted a number of advantages of teaching children in their mother tongues. Both qualitative and quantitative methods were used for the collection of data for this study. 30 teachers from selected public primary schools and 20 parents of Kapiri district and five lecturers of teacher training colleges in Central province were selected for this study. The researcher also observed class lessons in lower primary schools of Kapiri district. This study revealed that both parents and teachers are of the views that teachers teaching lower primary classes should use multilingual medium of instruction in lower primary classes so as to accommodated children of different linguistic backgrounds.

Keywords: familiar languages, medium of instruction, multilingual medium of instruction, native speakers

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Authors: Seyedmohsen Mortazavi

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The purpose of this research is to investigate the personality types of internal auditors on the quality of financial reporting in companies admitted to the Tehran Stock Exchange. Personality type is one of the issues that emphasizes the field of auditors' behavior, and this field has attracted the attention of shareholders and stock companies today, because the auditors' personality can affect the type of financial reporting and its quality. The research is applied in terms of purpose and descriptive and correlational in terms of method, and a researcher-made questionnaire was used to check the research hypotheses. The statistical population of the research is all the auditors, accountants and financial managers of the companies admitted to the Tehran Stock Exchange, and due to their large number and the uncertainty of their exact number, 384 people have been considered as a statistical sample using Morgan's table. The researcher-made questionnaire was approved by experts in the field, and then its validity and reliability were obtained using software. For the validity of the questionnaire, confirmatory factor analysis was first examined, and then using divergent and convergent validity; Fornell-Larker and cross-sectional load test of the validity of the questionnaire were confirmed; Then, the reliability of the questionnaire was examined using Cronbach's alpha and composite reliability, and the results of these two tests showed the appropriate reliability of the questionnaire. After checking the validity and reliability of the research hypotheses, PLS software was used to check the hypotheses. The results of the research showed that the personalities of internal auditors can affect the quality of financial reporting; The personalities investigated in this research include neuroticism, extroversion, flexibility, agreeableness and conscientiousness, all of these personality types can affect the quality of financial reporting.

Keywords: flexibility, quality of financial reporting, agreeableness, conscientiousness

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Authors: Sadia Bibi, Karim Ullah

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Islamic banks have excess liquidity, which needs proper management to earn a high rate of return on them to remain competitive. However, they lack assets-backed avenues and rely on a few sukuks, which led them to liquidity management issues. Financial engineering comes forward to innovate and develop instruments for the requisite financial problem. Still, they face many challenges, explored in the context of liquidity management in Islamic banks. The rigorous literature review shows that Shariah compliance, competition from the conventional banks, lack of sufficient instruments, derivatives are still not accepted as legitimate products, the inter-bank market being less developed, and no possibility of lender of last resort is the six significant constraints to financial engineering for liquidity management of Islamic banks. To further explore the problem, a multiple case study strategy is used to extend and develop the theory with the philosophical stance of social constructivism. Narrative in-depth interviews over the telephone are conducted with key personnel at treasury departments of selected banks. Data is segregated and displayed using NVivo 11 software, and the thematic analysis approach identifies themes related to the constraints. The exploration of further constraints to financial engineering for liquidity management of Islamic banks achieves the research aim. The theory is further developed by the addition of three more constraints to the theoretical framework, which are i) lack of skilled human resources, ii) lack of unified vision, and iii) lack of government support to the Islamic banks. These study findings are fruitful for the use of the government, regulatory authorities of the banking sector, the State Bank of Pakistan (Central Bank), and the product design & development division of Islamic banks to make the financial engineering process feasible and resolve liquidity management issues of Islamic banks.

Keywords: financial engineering, liquidity management, Islamic banks, shariah compliance

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Authors: Tajudeen Yusuf

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Arabic language and its instruction occupy a prominent status in the contemporary world, especially in academic and research institutions. Arabic, like other international languages, consolidates understanding among people of different nations and societies. It is a promising medium of sharing thoughts and feelings. As a means of communication and interaction, the language has gained its outstanding status since ancient times, especially because of the relationship it maintains with Islam and its heritage. Adding to its importance is the rapid growth and advancement of Science and Technology in the contemporary Era which has eventually made communication between human societies all over the world inevitable. Despite, the Arabic language still experiences many challenges especially in some area such as irrelevant textbooks and other teaching materials, old versions of teaching methods and inadequate teachers who professionally trained. Eventually, these have resulted in difficulties in the teaching and learning of the language. Therefore, urgent and necessary measures to enhance the teaching and learning of Arabic language within and outside Arab countries are therefore needed to be taken.

Keywords: Arabic, language, challenges, modern era

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Authors: Suleyman Kizil, Tahsin Sogut, Khalid M. Khawar

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Genus Allium includes 600 to 750 species and most of these including Allium tuncelianum (Kollman) N. Ozhatay, B. Mathew & Siraneci; Syn; A. macrochaetum Boiss. and Hausskn. subsp. tuncelianum Kollman] or Tunceli garlic is endemic to Eastern Turkish Province of Tunceli and Munzur mountains. They are edible, bear attractive white-to-purple flowers and fertile black seeds with deep seed dormancy. This study aimed to break seed dormancy of Tunceli garlic and determine the conditions for induction of bulblets on these seeds and increase their diameter by culturing them on MS medium supplemented different strengths of KNO3. Tunceli garlic seeds were collected from field grown plants. They were germinated on MS medium with or without 20 g/l sucrose followed by their culture on 1 × 1900 mg/l, 2 × 1900 mg/l, 4 ×1900 mg/l and 6 × 1900 mg/l mg/l KNO3 supplemented with 20 g/l sucrose to increase bulb diameter. Improved seeds germination was noted on MS medium with and without sucrose but with variation compared to previous reports. The bulb development percentage on each of the sprouted seeds was not parallel to the percentage of seed germination. The results showed 34% and 28.5% bulb induction was noted on germinated seeds after 150 and 158 days on MS medium containing 20 g l-1 sucrose and no sucrose respectively showing a delay of 8 days on the latter compared to the former. The results emphatically noted role of cold stratification on agar solidified MS medium supplemented with sucrose to improve seed germination. The best increase in bulb diameter was noted on MS medium containing 1 × 1900 mg/l KNO3 after 178 days with bulblet diameter and bulblet weight of 0.54 cm and 0.048 g, respectively. Consequently, the bulbs induced on sucrose containing MS medium could be transferred to pots earlier. Increased (>1 × 1900 mg/l KNO3) strengths of KNO3 induced negative effect on growth and development of Tunceli garlic bulbs. The strategy of seed germination and bulblet induction reported in this study could be positively used for conservation of this endemic plant species.

Keywords: Tunceli garlic, seed, dormancy, bulblets, bulb growth

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Authors: Qian Zhu, Shidong Nie, Bo Yang, Gang Xiong, Guoxin Dai

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GJ steel is a new type of high-performance structural steel which has been increasingly adopted in practical engineering. Q460GJ structural steel has a nominal yield strength of 460 MPa, which does not decrease significantly with the increase of steel plate thickness like normal structural steel. Thus, Q460GJ structural steel is normally used in medium-walled welded sections. However, research works on the residual stress in GJ steel members are few though it is one of the vital factors that can affect the member and structural behavior. This article aims to investigate the residual stresses in welded I-shaped sections fabricated from Q460GJ structural steel plates by experimental tests. A total of four full scale welded medium-walled I-shaped sections were tested by sectioning method. Both circular curve correction method and straightening measurement method were adopted in this study to obtain the final magnitude and distribution of the longitudinal residual stresses. In addition, this paper also explores the interaction between flanges and webs. And based on the statistical evaluation of the experimental data, a multilayer residual stress model is proposed.

Keywords: Q460GJ structural steel, residual stresses, sectioning method, welded medium-walled I-shaped sections

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Authors: Arūnas Burinskas

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Although Europe is on the threshold of a new industrial revolution called Industry 4.0, many believe that this will increase the flexibility of production, the mass adaptation of products to consumers and the speed of their service; it will also improve product quality and dramatically increase productivity. However, as expected, all the benefits of Industry 4.0 face many of the inevitable changes and challenges they pose. One of them is the inevitable transformation of current competition and business models. This article examines the possible results of competitive conversion from the classic Bertrand and Cournot models to qualitatively new competition based on innovation. Ability to deliver a new product quickly and the possibility to produce the individual design (through flexible and quickly configurable factories) by reducing equipment failures and increasing process automation and control is highly important. This study shows that the ongoing transformation of the competition model is changing the game. This, together with the creation of complex value networks, means huge investments that make it particularly difficult for small and medium-sized enterprises. In addition, the ongoing digitalization of data raises new concerns regarding legal obligations, intellectual property, and security.

Keywords: Bertrand and Cournot Competition, competition model, industry 4.0, industrial organisation, monopolistic competition

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Authors: Susan Lewis

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The assessment of learning outcomes at the program level has attracted much international interest from the perspectives of quality assurance and ongoing curricular redesign and renewal. This paper examines program-level learning outcomes in the field of music and technology, an area of study that has seen an explosion in program development over the past fifteen years. The Audio Engineering Society (AES) maintains an online directory of educational institutions worldwide, yielding the most comprehensive inventory of programs and courses in music and technology. The inventory includes courses, programs, and degrees in music and technology, music and computer science, music production, and the music industry. This paper focuses on published student learning outcomes for undergraduate degrees in music and technology and analyses commonalities at institutions in North America, the United Kingdom, and Europe. The results of a survey of student learning outcomes at twenty institutions indicates a focus on three distinct student learning outcomes: (1) cross-disciplinary knowledge in the fields of music and technology; (2) the practical application of training through the professional industry; and (3) the acquisition of skills in communication and collaboration. The paper then analyses assessment mechanisms for tracking student learning and achievement of learning outcomes at these institutions. The results indicate highly variable assessment practices. Conclusions offer recommendations for enhancing assessment techniques and better communicating learning outcomes to students.

Keywords: quality assurance, student learning; learning outcomes, music and technology

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Authors: Veisiwe Gasa

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Many higher institutions of education that offer Open Distance Learning (ODL) and e-Learning have opened their doors to accommodate prisoners who want to further their studies. The provision of education for prisoners in South Africa emanates from a number of reasons. The alarmingly high numbers of the prison population in South Africa has called for the government to provide desperate measures. It is on these premises that the provision of higher education in prison is recommended. Higher education is recommended because of the belief that it creates employability and thereby reduces recidivism. Using targeted sampling, 5 universities were required to elaborate on their awareness strategies, how they ensure that Distance Education is accessible to the prisoners and also the ways in which they cater to the needs of incarcerated students. The research findings reveal that there is so little that has been done by these particular institutions to cater for prisoners. This raises a concern and indicates a need to raise awareness of the value of higher and distance education among prisoners. It also calls for higher education institutions to make prisons aware of their course offerings.

Keywords: e-Learning, incarcerated students, open distance learning, recidivism

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Authors: Nicola Wakelin-Theron

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This study focuses on higher education institutions in South Africa, with the view to understanding how tourism as a study discipline has evolved over the years, as well as the influence of employability skills on graduates’ ability to secure jobs in the tourism industry. Indeed, the employability landscape is becoming more complex; hence, it is imperative for higher education institutions to equip students with employability skills while going through their academic programmes and during their transition from higher education to the world of work. Employability – which is regarded as an empowerment mechanism and a key to job security – is a set of achievements which increases the probability for graduates to find and maintain employment. A quantitative research method was used to obtain the necessary information. Data were collected through a web-based, online survey questionnaire directed to academics from various public higher education institutions in South Africa that offer tourism as a qualification. The key findings revealed that academics are of the opinion that there are 5 skills that are influential in obtaining a position within the tourism industry.

Keywords: employability, industry skills, tourism industry, tourism qualification

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Authors: Edward Chamisa, Colin C. Smith, Hamutyinei H. Pamburai, Abdul C. Abdulla

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South Africa (SA) adopted International Financial Reporting Standards (IFRS) for listed firms effective 1 January 2005. However, it was not until 2011 that substantial financial reporting enforcement changes were introduced, which were meant to ensure compliance with IFRS. This innovative setting allows us to examine the value relevance of accounting amounts during the (1) pre-IFRS adoption period (2002-2004); (2) post-IFRS adoption, but pre-enforcement changes period (2006-2010); and (3) post-enforcement changes period (2011-2012). The results show that accounting amounts were most value relevant in the post-enforcement changes period (R2, 75.5%) compared to both the pre-IFRS adoption period (adjusted R2 is 24.3%) and the period after IFRS adoption but before enforcement changes (adjusted R2 is 37.5%). Also, during the 2008 financial crisis, the equity book value per share was significantly value relevant (at 1%) but not earnings per share, whereas before the crisis, the opposite was true. We make two important contributions to the literature. First, we identify SA as an innovative setting that allows researchers to examine separately the effects of IFRS adoption and enforcement changes on capital markets and accounting quality. This is a departure from prior studies that are dominated by the European Union setting, where IFRS adoption occurred contemporaneously with enforcement and other regulatory changes. Second, we provide preliminary findings which suggest that while the adoption of IFRS seems to have improved the financial reporting quality of accounting amounts of SA listed firms, its impact appears to be limited unless combined with effective enforcement.

Keywords: international financial reporting standards (ifrs), ifrs adoption, financial reporting enforcement, value relevance, price model, equity book value, earnings per share

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Authors: K. C. Sony

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This paper investigates the coping strategies of households confronting disease in large cardamom (Amomum Subulatum Roxb.) in eastern Nepal. Cardamom farmers draw on various coping strategies to reduce the impact of crop disease in their livelihoods. Yet farmers face tremendous decline in production with a constant effort for revival. Past evidences provides dearth of information about coping strategies employed by farmers and institutional intervention to combat disease. Using factual data from Ilam district, and conducting a political economic analysis, this research addresses the gap by 1) understanding the impact of crop disease in farmers’ livelihoods, 2) identifying the coping strategies adopted by farmers and, 3) examining the existing institutional arrangements to address the disease. Coping strategies vary by household’s status defined by size of land, alternative income, and access to supporting institutions. Measures adopted are burning the cardamom field, changing land use pattern, diversifying crops, and visiting institutions for support. The local government’s support is limited to providing trainings and producing new varieties of cardamom. During crisis, farmers expect institutions to help revive the cardamom production, despite customary practice to combat disease. To retain and improve the livelihoods of farmers, there needs to be institutional innovation at the community level and policies that endorse immediate and sustainable support during hazards.

Keywords: cardamom, coping strategy, disease, institutions, Nepal

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Authors: Ruwandika Perera

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Even though the Sri Lankan government provides a reasonable level of support for students at all levels of the school system, for example, free education, textbooks, school uniforms, subsidized public transportation, and school meals, low participation in learning among secondary students is an issue warranting investigation, particularly in low socio-economic districts. This study attempted to determine the levels of motivation and engagement amongst students in a number of schools in two low socio-economic districts of Sri Lanka. This study employed quantitative research design in an attempt to determine levels of motivation and engagement amongst Sri Lankan secondary school students. Motivation and Engagement Scale-Junior School (MES-JS) was administered among 100 Sinhala-medium and 100 Tamil-medium eighth-grade students (50 students from each gender). The mean age of the students was 12.8 years. Schools were represented by type 2 government schools located in Monaragala and Nuwara Eliya districts in Sri Lanka. Confirmatory factor analysis (CFA) was conducted to measure the construct validity of the scale. Since this did not provide a robust solution, exploratory factor analysis (EFA) was conducted. Four factors were identified; Failure Avoidance and Anxiety (FAA), Positive Motivation (PM), Uncertain Control (UC), and Positive Engagement (PE). An independent-samples t-test was conducted to compare PM, PE, FAA, and UC in gender and ethnic groups. There was no significant difference identified for PE, FAA, and UC scales based upon gender. These results indicate that for the participants in this study, there were no significant differences based on gender in the levels of failure avoidance and anxiety, uncertain control, and positive engagement in the school experience. But, the result for the PM scale was close to significant, indicating there may be differences based on gender for positive motivation. A significant difference exists for all scales based on ethnicity, with the mean result for the Tamil students being significantly higher than that for the Sinhala students. These results indicate those Sinhala-medium students’ levels of positive motivation and positive engagement in learning was lower than Tamil-medium students. Also, these results indicate those Tamil-medium students’ levels of failure avoidance, anxiety, and uncertain control was higher than Sinhala-medium students. It could be concluded that male students levels of PM were significantly lower than female students. Also, Sinhala-medium students’ levels of PM and PE was lower than Tamil-medium students, and Tamil-medium students levels of FAA and UC was significantly higher than Sinhala-medium students. Thus, there might be particular school-related conditions affecting this situation, which are related to early adolescents’ motivation and engagement in learning.

Keywords: early adolescents, engagement, low socio-economic districts, motivation

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Authors: Nayoma Ranawaka

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The demand for the high quality internationally comparable financial information has been increased than ever with the expansion of economic activities beyond its national boundaries. Thus, the necessity of converging accounting practices across the world is now continuously discussed with greater emphasis. The global convergence to International Financial Reporting Standards has been one of the main objectives of the International Accounting Standards Setting Board (IASB) since its establishment in 2001. Accordingly, Sri Lanka has adopted IFRSs in 2012. Among the other standards as a newly introduced standard by the IASB, IFRS 13 plays a pivotal role as it deals with the Fair Value Accounting (FVA). Therefore, it is valuable to obtain knowledge about the consequences of implementing IFRS 13 in Sri Lanka and compare results across nations. According to the IFRS Jurisdictional provision of Sri Lanka, Institute of Chartered Accountants of Sri Lanka has taken official steps to adopt IFRS 13 by introducing SLFRS 13 with de jure convergence. Then this study was identified the de facto convergence of the SLFRS 13 in measuring the Fair Value of Financial Instruments in the Sri Lankan context. Accordingly, the objective of this study is to explore the consequences to financial reporting by implementing SLFRS 13 on measuring the financial instruments. In order to achieve the objective of the study expert interview and in-depth interviews with the interviewees from the selected three case studies and their independent auditor were carried out using customized three different interview guides. These three cases were selected from three different industries; Banking, Manufacturing and Finance. NVivo version 10 was used to analyze the data collected through in-depth interviews. Then the content analysis was carried out and conclusions were derived based on the findings. Contribution to the knowledge by this study can be identified in different aspects. Findings of this study facilitate accounting practitioners to get an overall picture of application of fair value standard in measuring the financial instruments and to identify the challenges and barriers to the adoption process. Further, assist auditors in carrying out their audit procedures to check the level of compliance to the fair value standard in measuring the financial instruments. Moreover, this would enable foreign investors in assessing the reliability of the financial statements of their target investments as a result of SLFRS 13 in measuring the FVs of the FIs. The findings of the study could be used to open new avenues of thinking for policy formulators to provide the necessary infrastructure to eliminate disparities exists among different regulatory bodies to facilitate full convergence and thereby growth of the economy. Further, this provides insights to the dynamics of FVA implementation that are also relevant for other developing countries.

Keywords: convergence, fair value, financial instruments, IFRS 13

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Authors: Saad Saeed Althiabi

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This paper discusses the corporate positioning and how it became popular as a way to systematize production because of the unique manner in which incorporation legalized organizers to secure financial capital through locking it in. The power to lock in capital comes from the fact that a corporate exists as a separate legal entity, whose survival and governance are separated from any of its participants. The law essentially creates a different legal person when a corporation is created. Although this idea has been played down in the legal learning of the last decades in favor of the view that a corporation is purely something through which natural persons interrelate, recent legal research has begun to reassess the importance of entity status. Entity status, under the law and the related separation of governance from input of financial capital through the configuration of a corporation, sanctioned corporate participants to do somewhat more than connect in a series of business transactions.

Keywords: corporate law, entity status, locking in capital, financial capital

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Authors: Michael Postert

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The Studierendenwerke are legally independent public foundations with a one-century-old history in the German university community. Like the French CROUS, the Italian ANDISU or the Japanese University COOPs, they are set-up to serve the university and student needs. They are legally independent of their client institutions and student stakeholders. Initially set up as a support organization by students for students they have evolved to public business institutions with an annual turnover of EUR 100 Million or more. They are usually engaged in business areas such as student housing, restaurants, student grants, governmental scholarships and counselling services. These institutions are facing major changes over the next few years. The COVID19 pandemic and its impact on the educational system will unavoidably have an immense impact on the German student service organizations (Studierendenwerke). Issues such as digitalization and sustainability will have a huge impact on how the future business model of the Studierendenwerke will look like. The paper will discuss the aims and challenges of this development that started already before the COVID19 pandemic. In light of the way the educational system of the future will look like, the Studierendenwerke have to develop as well.

Keywords: business model, digitalization, education, student services

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Authors: Josip Visković, Josip Arnerić, Ante Rozga

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Based on the fact that volatility is time varying in high frequency data and that periods of high volatility tend to cluster, the most successful and popular models in modelling time varying volatility are GARCH type models. When financial returns exhibit sudden jumps that are due to structural breaks, standard GARCH models show high volatility persistence, i.e. integrated behaviour of the conditional variance. In such situations models in which the parameters are allowed to change over time are more appropriate. This paper compares different GARCH models in terms of their ability to describe structural changes in returns caused by financial crisis at stock markets of six selected central and east European countries. The empirical analysis demonstrates that Markov regime switching GARCH model resolves the problem of excessive persistence and outperforms uni-regime GARCH models in forecasting volatility when sudden switching occurs in response to financial crisis.

Keywords: central and east European countries, financial crisis, Markov switching GARCH model, transition probabilities

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Authors: Omar Farahat Hassanein, A. Samer Ezeldin

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The construction industry is a very dynamic field. Every day new technologies and methods are developing to fasten the process and increase its efficiency. Hence, if a project uses fewer resources, it will be more efficient. This paper examines the recycling of concrete construction and demolition (C&D) waste to reuse it as aggregates in on-site applications for construction projects in Egypt and possibly in the Middle East. The study focuses on a stationary plant setting. The machinery set-up used in the plant is analyzed technically and financially. The findings are gathered and grouped to obtain a comprehensive cost-benefit financial model to demonstrate the feasibility of establishing and operating a concrete recycling plant. Furthermore, a detailed business plan including the time and hierarchy is proposed.

Keywords: construction wastes, recycling, sustainability, financial model, concrete recycling, concrete life cycle

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Authors: Muhammad Tahir, Mushtaq Muhammad

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Capital structure is one of the key decisions taken by the financial managers. This study aims to investigate the factors influencing capital structure decision in Oil and Gas industry of Pakistan using secondary data from published annual reports of listed Oil and Gas Companies of Pakistan. This study covers the time-period from 2008-2014. Capital structure can be affected by profitability, firm size, growth opportunities, dividend payout, liquidity, business risk, and ownership structure. Panel data technique with Ordinary least square (OLS) regression model has been used to find the impact of set of explanatory variables on the capital structure using the Stata. OLS regression results suggest that dividend payout, firm size and government ownership have the most significant impact on financial leverage. Dividend payout and government ownership are found to have significant negative association with financial leverage however firm size indicated positive relationship with financial leverage. Other variables having significant link with financial leverage includes growth opportunities, liquidity and business risk. Results reveal significant positive association between growth opportunities and financial leverage whereas liquidity and business risk are negatively correlated with financial leverage. Profitability and managerial ownership exhibited insignificant relationship with financial leverage. This study contributes to existing Managerial Finance literature with certain managerial implications. Academically, this research study describes the factors affecting capital structure decision of Oil and Gas Companies in Pakistan and adds latest empirical evidence to existing financial literature in Pakistan. Researchers have studies capital structure in Pakistan in general and industry at specific, nevertheless still there is limited literature on this issue. This study will be an attempt to fill this gap in the academic literature. This study has practical implication on both firm level and individual investor/ lenders level. Results of this study can be useful for investors/ lenders in making investment and lending decisions. Further, results of this study can be useful for financial managers to frame optimal capital structure keeping in consideration the factors that can affect capital structure decision as revealed by this study. These results will help financial managers to decide whether to issue stock or issue debt for future investment projects.

Keywords: capital structure, multicollinearity, ordinary least square (OLS), panel data

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Authors: Stephen Gerome

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This study examines the translation and use of metaphors in the realm of public safety discourse and intends to shed light on a continuing problem in cross-cultural communication. Metaphors can cause problems not only within languages but also in interlingual communication. The use and misuse of metaphors may hinder the ability to adequately communicate prevention efforts and, in some cases, facilitate and allow financial crime to go undetected. The use of lexicalized metaphors in communications by political entities, journalists, and legal agents in communications regarding law, policy making, compliance monitoring and enforcement as well as in adjudication can have negative consequences if misconstrued. This study provides examples of metaphor usage in published documents in a corpus linguistic study that compares the use of lexicalized metaphors in this discourse to shed light on possible unexpected consequences as well as counterproductive ones.

Keywords: translation, legal, corpus linguistics, financial

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Authors: Sabur Mollah, Asma Mobarek

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This study aims to explore the endogenous relationship between Shari’ah governance and board governance for Islamic banks to identify complementary or substituting relationship between these governance parameters. By using a sample of 161 Islamic Banks from 24 countries for the period of 2005-2013, we show an endogenous relationship between Shari’ah Supervisory Board (SSB) and Board of Directors (BoD). In this relationship, SSB and BoD complement each other. We also show that this complementary relationship between SSB and BoD helps enhance both management and asset quality, but mitigates capital adequacy, earnings, and liquidity in Islamic banks. The study has important implications for financial stability in the Islamic banking system.

Keywords: Shari’ah Supervisory Board, Boards of Directors, Islamic banking, financial stability

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Authors: Stephen Oduro

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With a quantitative research design, this study seeks to analyze how, an intangible resource, Organisational Unlearning shapes the relationship between Entrepreneurial Orientation (EO) and Innovation Outcomes among social entrepreneurship organizations in Ghana. The Resource-Based View (RBV) of the firm and EO-Performance Contingency framework was adopted as the underpinning theories of the study. Entrepreneurial Orientation dimensions, namely Innovativeness, Autonomy, Risk-Taking, Proactiveness, and Competitive aggressiveness were examined to determine its significant, direct influence on the Innovation Outcomes of the social enterprises in Ghana. Organizational Unlearning dimensions, specifically examination of lens fitting, the consolidation of emergent understandings, and framework for changing individual habits were explored to determine whether they strengthen or weaken the direct nexus between Entrepreneurial Orientation dimensions and Innovation Outcomes. A self-administered questionnaire was administered to 556 targeted social enterprises across Africa through online questionnaire platform and the data generated and proposed hypotheses were analyzed and tested using Structural Equation Model-Partial Least Square (SEM-PLS 3) statistical tool. The findings revealed that EO dimensions, specifically proactiveness, autonomy, innovativeness, and risk-taking are positively related to IO, but we found no significant support for competitive aggressiveness. The findings, moreover, divulged that the positive, direct relationship between EO and IO is highly strengthened by OU. It is concluded that OU fully moderates the direct link between EO and IO. The present study contributes to the our understanding of the interrelationship among Entrepreneurial Orientation, Organizational Unlearning, and Innovation Outcomes in the social entrepreneurship context.

Keywords: entrepreneurial orientation, innovation outcomes, organizational unlearning, RBV, SEM-PLS, social enterprise, Africa

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Authors: Nazim Uddin, Yohiko Nakaura, Kazutaka Yamamoto

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Compote (fruit in syrup) of pineapple (Ananas comosus L. Merrill) is expected to have a high market potential as one of convenient ready-to-eat (RTE) foods worldwide. High hydrostatic pressure (HHP) in combination with low temperature (LT) was applied to the processing of pineapple compote as well as medium HHP (MHHP) in combination with medium-high temperature (MHT) since both processes can enhance liquid impregnation and inactivate microbes. MHHP+MHT (55 or 65 °C) process, as well as the HHP+LT process, has successfully inactivated the microbes in the compote to a non-detectable level. Although the compotes processed by MHHP+MHT or HHP+LT have lost the fresh texture as in a similar manner as those processed solely by heat, it was indicated that the texture degradations by heat were suppressed under MHHP. Degassing process reduced the hardness, while calcium (Ca) contributed to be retained hardness in MHT and MHHP+MHT processes. Electrical impedance measurement supported the damage due to degassing and heat. The color, Brix, and appearance were not affected by the processing methods significantly. MHHP+MHT and HHP+LT processes may be applicable to produce high-quality, safe RTE pineapple compotes. Further studies on the optimization of packaging and storage condition will be indispensable for commercialization.

Keywords: compote of pineapple, RTE, medium high hydrostatic pressure, postharvest loss, texture

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Authors: Hadi Mousavi, Majid Davoudi Nasr

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Executives can maximize profits by recognizing the factors that affect investment and using them to obtain the optimal level of investment. Inefficient markets have shortcomings that can impact the optimal level of investment, leading to the process of over-investment or under-investment. In the present study, the relationship between the overconfidence of senior managers and abnormal cash fluctuations with respect to financial flexibility in companies listed in the Tehran stock exchange from 2009 to 2013 were evaluated. In this study, the sample consists of 84 companies selected by a systematic elimination method and 420 year-companies in total. In this research, EVIEWS software was used to test the research hypotheses by linear regression and correlation coefficient and after designing and testing the research hypothesis. After designing and testing research hypotheses that have been used to each hypothesis, it was concluded that there was a significant relationship between the overconfidence of senior managers and abnormal cash fluctuations, and this relationship was not significant at any level of financial flexibility. Moreover, the findings of the research showed that there was a significant relationship between senior manager’s overconfidence and positive abnormal cash flow fluctuations in firms, and this relationship is significant only at the level of companies with high financial flexibility. Finally, the results indicate that there is no significant relationship between senior managers 'overconfidence and negative cash flow abnormalities, and the relationship between senior managers' overconfidence and negative cash flow fluctuations at the level of companies with high financial flexibility was confirmed.

Keywords: abnormal cash fluctuations, overconfidence of senior managers, financial flexibility, accounting

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Authors: Anne Gesare Timu, Megan Sheahan, Andrew Gache Mude, Rupsha Banerjee

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Women headed households are among the most vulnerable to negative climatic shocks and are often left poorer as a result. Credit provision has been recognized as one way of alleviating rural poverty and developing poor rural households’ resilience to shocks. Much has been documented about credit demand in small-holder agriculture settings in Kenya. However, little is known about demand for credit among pastoral women. This paper analyzes the determinants of demand for credit in the pastoral regions of Marsabit District of Northern Kenya. Using a five wave balanced panel data set of 820 households, a double hurdle model is employed to analyze if shocks, financial literacy and risk aversion affect credit demand among female and male headed households differently. The results show that borrowing goods on credit and monetary credit from informal market segments are the most common sources of credit in the study area. The impact of livestock loss and financial literacy on the decision to borrow and how much to borrow vary with gender. While the paper suggests that provision of credit is particularly valuable in the aftermath of a negative shock and more so for female-headed households, it also explores alternatives to the provision of credit where credit access is a constraint. It recommends further understanding of systems and institutions which could enhance access to credit, and particularly during times of stress, to enable households in the study area in particular and Northern Kenya in general to invest, engage in meaningful development and growth, and be resilient to persistent shocks.

Keywords: female headed households, pastoralism, rural financing, double hurdle model

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Authors: Huajuan Shi

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Background: The biopsy of the preimplantation embryo may increase the potential risk and concern of embryo viability. Clinically discarded spent embryo medium (SEM) has entered the view of researchers, sparking an interest in noninvasive embryo screening. However, one of the major restrictions is the extremelty low quantity of cf-RNA, which is difficult to efficiently and unbiased amplify cf-RNA using traditional methods. Hence, there is urgently need to an efficient and low bias amplification method which can comprehensively and accurately obtain cf-RNA information to truly reveal the state of SEM cf-RNA. Result: In this present study, we established an agarose PCR amplification system, and has significantly improved the amplification sensitivity and efficiency by ~90 fold and 9.29 %, respectively. We applied agarose to sequencing library preparation (named AG-seq) to quantify and characterize cf-RNA in SEM. The number of detected cf-RNAs (3533 vs 598) and coverage of 3' end were significantly increased, and the noise of low abundance gene detection was reduced. The increasing percentage 5' end adenine and alternative splicing (AS) events of short fragments (< 400 bp) were discovered by AG-seq. Further, the profiles and characterizations of cf-RNA in spent cleavage medium (SCM) and spent blastocyst medium (SBM) indicated that 4‐mer end motifs of cf-RNA fragments could remarkably differentiate different embryo development stages. Significance: This study established an efficient and low-cost SEM amplification and library preparation method. Not only that, we successfully described the characterizations of SEM cf-RNA of preimplantation embryo by using AG-seq, including abundance features fragment lengths. AG-seq facilitates the study of cf-RNA as a noninvasive embryo screening biomarker and opens up potential clinical utilities of trace samples.

Keywords: cell-free RNA, agarose, spent embryo medium, RNA sequencing, non-invasive detection

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Authors: Maria Granados

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Information technology (IT) facilitates the management of knowledge in organisations through the effective leverage of collective experience and knowledge of employees. This supports information processing needs, as well as enables and facilitates sense-making activities of knowledge workers. The study of IT support for knowledge management (KM) has been carried out mainly in larger organisations where resources and competitive conditions can trigger the use of KM. However, there is still a lack of understanding on how IT can support the management of knowledge under different organisational settings influenced by: constant tensions between social and economic objectives, more focus on sustainability than competiveness, limited resources, and high levels of democratic participation and intrinsic motivations among employees. All these conditions are presented in Social Enterprises (SEs), which are normally micro and small businesses that trade to tackle social problems, improve communities, people’s life chances, and the environment. Thus, their importance to society and economies is increasing. However, there is still a need for more understanding of how these organisations operate, perform, innovate and scale-up. This knowledge is crucial to design and provide accurate strategies to enhance the sector and increase its impact and coverage. To obtain a conceptual and empirical understanding of how IT can facilitate KM in the particular organisational conditions of SEs, a quantitative study was conducted with 432 owners and senior members of SEs in UK, underpinned by 21 interviews. The findings demonstrated how IT was supporting more the recovery and storage of necessary information in SEs, and less the collaborative work and communication among enterprise members. However, it was established that SEs were using cloud solutions, web 2.0 tools, Skype and centralised shared servers to manage informally their knowledge. The possible impediments for SEs to support themselves more on IT solutions can be linked mainly to economic and human constraints. These findings elucidate new perspectives that can contribute not only to SEs and SE supporters, but also to other businesses.

Keywords: social enterprises, knowledge management, information technology, collaboration, small firms

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Authors: Charlotte Bose Iro-Idoro, Adebisi Folake Osore, Tajudeen Adisa Jimoh

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All changes in the office environment were and are still driven by advances in technology. The impact of computers on office work has resulted in numerous changes in office activities, procedures and the expectations from office managers and secretaries. This study investigated the level of knowledge and use of computer office application packages by secretaries and office managers in higher educational institutions in Ogun State and the implications of these on their performance enhancement. The study is an ex post facto research and adopted the survey design for the collection of data. Two hypotheses were formulated, and a questionnaire was developed and tested at 0.05 level of significance. All office managers and secretaries in the service of higher educational institutions in Ogun State, Nigeria formed the population of the study. The study was limited to federal institutions and a total of 120 office managers/secretaries were selected to form the sample such that 40 office managers/secretaries were randomly selected from each of the three Federal higher institutions in the State, that is Federal University of Agriculture, Abeokuta, Federal Polytechnic, Ilaro and Federal College of Education, Osiele, Abeokuta, Ogun State. Analysis of data and hypotheses tests were carried out with frequency counts, percentage and T-Test. The result indicated varying levels of awareness on office application tools with limited knowledge and use of computer application packages by office managers/secretaries. The results also showed that good knowledge and high use of office application tools enhance performance of office managers/secretaries. The study recommended that there should be maximum institutional resources and support and personal development on the part of the office managers to ensure update knowledge and maximal use of office application tools by office managers/secretaries.

Keywords: application packages, computer, office managers, performance enhancement

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Authors: Zaheer A. Ali, George Szabo

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SCRUM has roots in software and web development and works very well on that in that space. However, any technical person who has watched a typical waterfall managed project spiral out of control or into an abyss, has thought: "there must be a better way". I will discuss how that thought leads naturally to adopting Agile principles and SCRUM, as well as how Agile and SCRUM can be implemented in large institutions with long histories via a method I developed: Bubble Scrum. We will also see how SCRUM can be implemented in interesting places outside of the technical sphere and also discuss where and how to subtly bring Agility and SCRUM into large, rigid, institutions.

Keywords: agile, enterprise-agile, agile at scale, agile transition, project management, scrum

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Authors: Yaser Ghasemi Aryan, Firoozeh Moghiminejad, Mohammadreza Shahraki

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Background: The cooperative institution is considered the first and most essential pillar of strengthening social capital, whose sustainability is the main guarantee of survival and continued participation of local communities in natural resource management projects. The Village Development Group and the Microcredit Fund are two important social and economic institutions in the implementation of the International Project for the Restoration of Degraded Forest Lands (RFLDL) in Sarayan City, South Khorasan Province, which has learned positive lessons from the participation of the beneficiaries in the implementation. They have brought more effective projects to deal with desertification. However, the low activity or liquidation of some of these institutions has become one of the important challenges and concerns of project executive experts. The current research was carried out with the aim of explaining the main components of the instability of these institutions. Materials and Methods: This research is descriptive-analytical in terms of method, practical in terms of purpose, and the method of collecting information is two documentary and survey methods. The statistical population of the research included all the members of the village development groups and microcredit funds in the target villages of the RFLDL project of Sarayan city, based on the Kochran formula and matching with the Karjesi and Morgan table. Net people were selected as a statistical sample. After confirming the validity of the expert's opinions, the reliability of the questionnaire was 0.83, which shows the appropriate reliability of the researcher-made questionnaire. Data analysis was done using SPSS software. Results: The results related to the extraction of obstacles to the stability of social and economic networks were classified and prioritized in the form of 5 groups of social-cultural, economic, administrative, educational-promotional and policy-management factors. Based on this, in the socio-cultural factors, the items ‘not paying attention to the structural characteristics and composition of groups’, ‘lack of commitment and moral responsibility in some members of the group,’ and ‘lack of a clear pattern for the preservation and survival of groups’, in the disciplinary factors, The items ‘Irregularity in holding group meetings’ and ‘Irregularity of members to participate in meetings’, in the economic factors of the items "small financial capital of the fund’, ‘the low amount of loans of the fund’ and ‘the fund's inability to conclude contracts and attract capital from other sources’, in the educational-promotional factors of the items ‘non-simultaneity of job training with the granting of loans to create jobs’ and ‘insufficient training for the effective use of loans and job creation’ and in the policy-management factors of the item ‘failure to provide government facilities for support From the funds, they had the highest priority. Conclusion: In general, the results of this research show that policy-management factors and social factors, especially the structure and composition of social and economic institutions, are the most important obstacles to their sustainability. Therefore, it is suggested to form cooperative institutions based on network analysis studies in order to achieve the appropriate composition of members.

Keywords: cooperative institution, social capital, network analysis, participation, Sarayan.

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