Search results for: financial enabling environment

Authors: R. S. Quintal, J. L. Tesch Santos, M. D. Davis, E. C. de Santana, M. de F. Bandeira dos Santos

Abstract:

The objective is to identify the contributions from the introduction of the computerized system deal within the Accounting Department of Brazilian Navy Financial Directorship and its possible effects on the budgetary and financial harvest of Brazilian Navy. The relevance lies in the fact that the management process is responsible for the continuous improvement of organizational performance through higher levels of quality in their activities. Improvements in organizational processes have direct effects on crops cost, quality, reliability, flexibility and speed. The method of study of this research is the case study. The choice of case study attended, among other demands, a need for greater flexibility to study processes related to a computerized system. The sources of evidence were used literature, documentary and direct observation. Direct observation was made by monitoring the implementation of the computerized system in the Division of Management Analysis. The main findings of the study point to the fact that the computerized system may contribute significantly to the standardization of information. There was improvement of internal processes in the division of management analysis, made possible the consolidation of a standard management and performance analysis that contribute to global homogeneity in the treatment of information essential to the process of decision making. This study has limitations related to the fact the search result be subject exclusively to the case studied, and it is impossible to generalize to other organs of government.

Keywords: process management, management control, business intelligence, Brazilian Navy

Procedia PDF Downloads 238

Authors: Tomola Obamuyi

Abstract:

The banking system in Nigeria adopted innovative banking, with the aim of enhancing financial inclusion, and making financial services readily and cheaply available to majority of the people, and to contribute to the efficiency of the financial system. Some of the innovative services include: Automatic Teller Machines (ATMs), National Electronic Fund Transfer (NEFT), Point of Sale (PoS), internet (Web) banking, Mobile Money payment (MMO), Real-Time Gross Settlement (RTGS), agent banking, among others. The introduction of these payment systems is expected to increase bank efficiency and customers' satisfaction, culminating in better performance for the commercial banks. However, opinions differ on the possible effects of the various innovative payment systems on the performance of commercial banks in the country. Thus, this study empirically determines how commercial banks use innovation to gain competitive advantage in the specific context of Nigeria's finance and business. The study also analyses the effects of financial innovation on the performance of commercial banks, when different periods of analysis are considered. The study employed secondary data from 2009 to 2018, the period that witnessed aggressive innovation in the financial sector of the country. The Vector Autoregression (VAR) estimation technique forecasts the relative variance of each random innovation to the variables in the VAR, examine the effect of standard deviation shock to one of the innovations on current and future values of the impulse response and determine the causal relationship between the variables (VAR granger causality test). The study also employed the Multi-Criteria Decision Making (MCDM) to rank the innovations and the performance criteria of Return on Assets (ROA) and Return on Equity (ROE). The entropy method of MCDM was used to determine which of the performance criteria better reflect the contributions of the various innovations in the banking sector. On the other hand, the Range of Values (ROV) method was used to rank the contributions of the seven innovations to performance. The analysis was done based on medium term (five years) and long run (ten years) of innovations in the sector. The impulse response function derived from the VAR system indicated that the response of ROA to the values of cheques transaction, values of NEFT transactions, values of POS transactions was positive and significant in the periods of analysis. The paper also confirmed with entropy and range of value that, in the long run, both the CHEQUE and MMO performed best while NEFT was next in performance. The paper concluded that commercial banks would enhance their performance by continuously improving on the services provided through Cheques, National Electronic Fund Transfer and Point of Sale since these instruments have long run effects on their performance. This will increase the confidence of the populace and encourage more usage/patronage of these services. The banking sector will in turn experience better performance which will improve the economy of the country. Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression,

Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression

Procedia PDF Downloads 120

Authors: T. Miková

Abstract:

This paper analyzes the effect of a single uniform accounting rule on reporting quality by investigating the influence of IFRS on earnings management. This paper examines whether earnings management is reduced after IFRS adoption through the use of “loss avoidance thresholds”, a method that has been verified in earlier studies. This paper concentrates on two European countries: one that represents the continental code law tradition with weak protection of investors (France) and one that represents the Anglo-American common law tradition, which typically implies a strong enforcement system (the United Kingdom). The research investigates a sample of 526 companies (6822 firm-year observations) during the years 2000 – 2013. The results are different for the two jurisdictions. This study demonstrates that a single set of accounting standards contributes to better reporting quality and reduces the pervasiveness of earnings management in France. In contrast, there is no evidence that a reduction in earnings management followed the implementation of IFRS in the United Kingdom. Due to the fact that IFRS benefit France but not the United Kingdom, other political and economic factors, such legal system or capital market strength, must play a significant role in influencing the comparability and transparency cross-border companies’ financial statements. Overall, the result suggests that IFRS moderately contribute to the accounting quality of reported financial statements and bring benefit for stakeholders, though the role played by other economic factors cannot be discounted.

Keywords: accounting standards, earnings management, international financial reporting standards, loss avoidance, reporting quality

Procedia PDF Downloads 198

Authors: Ivana Tadic, Snjezana Pivac

Abstract:

Although human resources are recognized as the crucial companies’ resources and their positive influence on companies’ performances has been confirmed through different researches, scientists are still debating it. In order to contribute this debate, this paper firstly discusses the most important human resource management elements and practices and its influence on companies’ success. Afterwards it defines human resource “bundles” – interrelated and internally consistent human resource practices, complementary to each other, or the most important human resource practices and elements regarding Croatian companies and its human resource management activities. Finally, the paper provides empirical results; more precisely it reveals the relation of the level of development of human resource management function (“bundles”) and companies’ financial performances (using profitability ratios, liquidity ratios, solvency ratios and a group of additional ratios related to employees’ indicators).

Keywords: companies’ performances, human resource bundles, multivariate statistical analysis, marketing

Procedia PDF Downloads 423

Authors: Usman A. Usman

Abstract:

Undeniably, unlike the Classical side, the Keynesian perspective of the aggregate demand side indeed has a significant position in the policy, growth, and welfare of Nigeria due to government involvement and ineffective demand of the population living with poor per capita income. This study seeks to investigate the effect of Government Final Consumption Expenditure, Financial Deepening on Households, and NPISHs Final consumption expenditure using data on Nigeria from 1981 to 2019. This study employed the ADF stationarity test, Johansen Cointegration test, and Vector Error Correction Model. The results of the study revealed that the coefficient of Government final consumption expenditure has a positive effect on household consumption expenditure in the long run. There is a long-run and short-run relationship between gross fixed capital formation and household consumption expenditure. The coefficients cpsgdp (financial deepening and gross fixed capital formation posit a negative impact on household final consumption expenditure. The coefficients money supply lm2gdp, which is another proxy for financial deepening, and the coefficient FDI have a positive effect on household final consumption expenditure in the long run. Therefore, this study recommends that Gross fixed capital formation stimulates household consumption expenditure; a legal framework to support investment is a panacea to increasing hoodmold income and consumption and reducing poverty in Nigeria. Therefore, this should be a key central component of policy.

Keywords: government final consumption expenditure, household consumption expenditure, vector error correction model, cointegration

Procedia PDF Downloads 52

Authors: Ichiro Mukai

Abstract:

The purpose of this study is to investigate whether firms applying International Financial Reporting Standards (IFRS), provide high-quality and comparable earnings information that is useful for decision making of information users relative to firms applying local Generally Accepted Accounting Principles (GAAP). Focus is placed on the earnings quality of listed firms in several developed countries: Australia, Canada, France, Germany, Japan, the United Kingdom (UK), and the United States (US). Except for Japan and the US, the adoption of IFRS is mandatory for listed firms in these countries. In Japan, the application of IFRS is allowed for specific listed firms. In the US, the foreign firms listed on the US securities market are permitted to apply IFRS but the listed domestic firms are prohibited from doing so. In this paper, the differences in earnings quality are compared between firms applying local GAAP and those applying IFRS in each country and industry category, and the reasons of differences in earnings quality are analyzed using various factors. The results show that, although the earnings quality of firms applying IFRS is higher than that of firms applying local GAAP, this varies with country and industry category. Thus, even if a single set of global accounting standards is used for all listed firms worldwide, it is difficult to establish comparability of financial information among global firms. These findings imply that various circumstances surrounding firms, industries, and countries etc. influence business operations and affect the differences in earnings quality.

Keywords: accruals, earnings quality, IFRS, information comparability

Procedia PDF Downloads 169

Authors: Thevaranchany Sivaskaran

Abstract:

Women entrepreneurs are the key players in the society and their contributions is highly highlighted to enhance economic stability in the country. In Sri Lanka, especially in North and East provinces people badly affected by war. Most of them are widows and women headed families. Due to this changing environment, Educational opportunities, and the support of NGO’s Most of the women have started their business and become entrepreneurs. Even though existing family setup and social setup entrepreneurial women are overburdened and difficult to balance their business and family roles. The research has been conducted on the experiences of women entrepreneurs with the family role support and work-life balance within the small and micro- enterprise sector in Jaffna, Srilanka. This study aims to identify that what extent the role of family support will be the tool to balancing work and life effectively and, secondly, the main challenges they face in achieving work-life balance. This is done by drawing on literatures including those on work-life balance, small-and micro enterprises, and entrepreneurship theories. To find out this objective, the data were collected from 50 entrepreneurs among the members of Jaffna women chamber in each GS division basis (cluster random sampling). A qualitative methodological technique and semi-structured interviews were used to collect the data for the case study on these entrepreneurs. The results indicate that the majority of entrepreneurs do not enjoy a sense of work-life balance because most of them are women headed family and they need to work hard to generate financial profit for the benefit of family. The motivation for them to work in this way is to provide basic needs. Results confirmed for others that support of husbands is very important. Mostly, emotional support (belief and empowerment) is exposed; however, getting financial contribution seems to be highly appreciated. More responsibilities which spouses were ready to take over regarding the home responsibilities (that is, childcare) should also not be neglected in the system of support to their entrepreneurial wives. Although, more important for all, women with children appreciated other members and spouses help and assistance to a higher extent. Results showed that majority of women who started their own business feel that in the first year of ope-ration the emotional support of family members was more important.

Keywords: family support, work life balance, women entrepreneurs, Jaffna District, Sri Lanka

Procedia PDF Downloads 459

Authors: Wilayat Ali, Li Sheng, Waleed Ahmed

Abstract:

The ability of the robot to make simultaneously map of the environment and localize itself with respect to that environment is the most important element of mobile robots. To solve SLAM many algorithms could be utilized to build up the SLAM process and SLAM is a developing area in Robotics research. Robot Operating System (ROS) is one of the frameworks which provide multiple algorithm nodes to work with and provide a transmission layer to robots. Manyof these algorithms extensively in use are Hector SLAM, Gmapping and Cartographer SLAM. This paper describes a ROS-based Simultaneous localization and mapping (SLAM) library Google Cartographer mapping, which is open-source algorithm. The algorithm was applied to create a map using laser and pose data from 2d Lidar that was placed on a mobile robot. The model robot uses the gazebo package and simulated in Rviz. Our research work's primary goal is to obtain mapping through Cartographer SLAM algorithm in a static indoor environment. From our research, it is shown that for indoor environments cartographer is an applicable algorithm to generate 2d maps with LIDAR placed on mobile robot because it uses both odometry and poses estimation. The algorithm has been evaluated and maps are constructed against the SLAM algorithms presented by Turtlebot2 in the static indoor environment.

Keywords: SLAM, ROS, navigation, localization and mapping, gazebo, Rviz, Turtlebot2, slam algorithms, 2d indoor environment, cartographer

Procedia PDF Downloads 145

Authors: P. S. Jagadeesh Kumar, S. Meenakshi Sundaram

Abstract:

With the increase of prevailing non-traditional rivalry, mobile banking experiences an ever changing commercial backdrop. Substantial customer demands have established to be more intricate as customers request more expediency and superintend over their banking services. To enterprise advance and modernization in mobile banking applications, it is gradually obligatory to deeply leapfrog the scuffle using business model transformation. The dramaturgical vicissitudes taking place in mobile banking entail advanced traditions to exploit security. By reforming and transforming older back office into integrated mobile banking applications, banks can engender a supple and nimble banking environment that can rapidly respond to new business requirements over cloud computing. Cloud computing is transfiguring ecosystems in numerous industries, and mobile banking is no exemption providing services innovation, greater flexibility to respond to improved security and enhanced business intelligence with less cost. Cloud technology offer secure deployment possibilities that can provision banks in developing new customer experiences, empower operative relationship and advance speed to efficient banking transaction. Cloud adoption is escalating quickly since it can be made secured for commercial mobile banking transaction through backend as a service in scrutinizing the security strategies of the cloud service provider along with the antiquity of transaction details and their security related practices.

Keywords: cloud adoption, backend as a service, business intelligence, secured mobile banking

Procedia PDF Downloads 254

Authors: Pallavi Kishore, Mariam Aslam

Abstract:

The sharp decline in oil prices that started in 2014 affected most economies in the world either positively or negatively. In some economies, particularly the oil exporting countries, the effects were felt immediately. The Gulf Cooperation Council’s (GCC henceforth) countries are oil and gas-dependent with the largest oil reserves in the world. UAE (United Arab Emirates) has been striving to diversify away from oil and expects higher non-oil growth in 2018. These two factors, falling oil prices and the economy strategizing away from oil dependence, make a compelling case to study the financial performance of various sectors in the economy. Among other sectors, the insurance sector is widely recognized as an important indicator of the health of the economy. An expanding population, surge in construction and infrastructure, increased life expectancy, greater expenditure on automobiles and other luxury goods translate to a booming insurance sector. A slow-down of the insurance sector, on the other hand, may indicate a general slow-down in the economy. Therefore, a study on the insurance sector will help understand the general nature of the current economy. This study involves calculations and comparisons of ratios pre and post the fall in oil prices in the insurance sector in the UAE. A sample of 33 companies listed on the official stock exchanges of UAE-Dubai Financial Market and Abu Dhabi Stock Exchange were collected and empirical analysis employed to study the financial performance pre and post fall in oil prices. Ratios were calculated in 5 categories: Profitability, Liquidity, Leverage, Efficiency, and Investment. The means pre- and post-fall are compared to conclude that the profitability ratios including ROSF (Return on Shareholder Funds), ROCE (Return on Capital Employed) and NPM (Net Profit Margin) have all taken a hit. Parametric tests, including paired t-test, concludes that while the fall in profitability ratios is statistically significant, the other ratios have been quite stable in the period. The efficiency, liquidity, gearing and investment ratios have not been severely affected by the fall in oil prices. This may be due to the implementation of stronger regulatory policies and is a testimony to the diversification into the non-oil economy. The regulatory authorities can use the findings of this study to ensure transparency in revealing financial information to the public and employ policies that will help further the health of the economy. The study will also help understand which areas within the sector could benefit from more regulations.

Keywords: UAE, insurance sector, ratio analysis, oil price, profitability, liquidity, gearing, investment, efficiency

Procedia PDF Downloads 244

Authors: Uzoma Emmanuel Igboji

Abstract:

The study investigates the effects of cash flow position on corporate performance in the manufacturing sector of Nigeria, using multiple regression techniques. The study involved a survey of five (5) manufacturing companies quoted on the Nigerian Stock Exchange. The data were obtained from the annual reports of the selected companies under study. The result shows that operating and financing cash flow have a significant positive relationship with corporate performance, while investing cash flow position have a significant negative relationship. The researcher recommended that the regulatory authorities should encourage external auditors of these quoted companies to use cash flow ratios in evaluating the performance of a company before expressing an independent opinion on the financial statement. The will give detailed financial information to existing and potential investors to make informed economic decisions.

Keywords: cash flow, financing, performance, operating

Procedia PDF Downloads 315

Authors: Suppara Charoenpoom

Abstract:

This study focuses on 1) a good-quality management procedures of buildings and environment in schools 2) designing the management procedures and 3) creating an operation manual for the procedures. This study is the combination of qualitative and quantitative research method. Populations in the research were 83 deans and directors of primary and secondary schools from the 10th educational district in Samut Songkram. Sample group was selected from the voluntary deans and directors. There were 14 participants in sample group. Research tools in this study were divided into 2 categories. The first one was data-collecting tools, which were in-depth interview and questionnaires. The second one was the designing tools to help creating management procedures: quality business, quality work procedure and key quality indicator of each activity in schools. All data were analyzed by mean and standard deviation. The result from this study has found out 1 effective process of building and environment management for basic education schools which is called Quality Business Process (QBP) and 7 Quality Work Procedures (QWP). In terms of academic feasibility checkup by experts, the research had shown that new design of building and environment management was approved unanimously. It means that new process of building and environment management in schools works very well and can be adapted. After examining the possibility of management process being used in schools by calculating the mean value among sample group (14 school deans and directors), the mean value was between 0.64-1.00. It means that the new design of building and environment management can be operated effectively in schools. For the satisfaction part, deans and school directors gave the satisfaction score in the highest level (Mean = 4.7372, S.D. = 0.4385).

Keywords: buildings, environment, procedures, quality management

Procedia PDF Downloads 233

Authors: Walid Chkili

Abstract:

This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

Procedia PDF Downloads 472

Authors: Kana Matsuyanagi

Abstract:

Anorexia Nervosa (AN) is a psychiatric disorder characterized by a relentless pursuit of thinness and strict restriction of food. The current therapeutic approaches for AN predominantly revolve around outpatient psychotherapies, which create significant financial barriers for the majority of affected patients, hindering their access to treatment. Nonetheless, AN exhibit one of the highest mortality and relapse rates among psychological disorders, underscoring the urgent need to provide patients with an affordable self-treatment tool, enabling those unable to access conventional medical intervention to address their condition autonomously. To this end, a neurofeedback software, termed RelaxNeuron, was developed with the objective of providing an economical and portable means to aid individuals in self-managing AN. Electroencephalography (EEG) was chosen as the preferred modality for RelaxNeuron, as it aligns with the study's goal of supplying a cost-effective and convenient solution for addressing AN. The primary aim of the software is to ameliorate the negative emotional responses towards food stimuli and the accompanying aberrant eye-tracking patterns observed in AN patient, ultimately alleviating the profound fear towards food an elemental symptom and, conceivably, the fundamental etiology of AN. The core functionality of RelaxNeuron hinges on the acquisition and analysis of EEG signals, alongside an electrocardiogram (ECG) signal, to infer the user's emotional state while viewing dynamic food-related imagery on the screen. Moreover, the software quantifies the user's performance in accurately tracking the moving food image. Subsequently, these two parameters undergo further processing in the subsequent algorithm, informing the delivery of either negative or positive feedback to the user. Preliminary test results have exhibited promising outcomes, suggesting the potential advantages of employing RelaxNeuron in the treatment of AN, as evidenced by its capacity to enhance emotional regulation and attentional processing through repetitive and persistent therapeutic interventions.

Keywords: Anorexia Nervosa, fear conditioning, neurofeedback, BCI

Procedia PDF Downloads 43

Authors: Bassam Istanbouli

Abstract:

Organizations are living in a very competitive and dynamic environment which is constantly changing. In order to achieve a high level of service, the products and processes of these organizations need to be flexible and evolvable. If the supply chains are not modular and well designed, changes can bring combinatorial effects to most areas of a company from its management, financial, documentation, logistics and its information structure. Applying the normalized system’s concept to segments of the supply chain may help in reducing those ripple effects, but it may also increase lead times. Lead times are important and can become a decisive element in gaining customers. Industries are always under the pressure in providing good quality products, at competitive prices, when and how the customer wants them. Most of the time, the customers want their orders now, if not yesterday. The above concept will be proven by examining lead times in a manufacturing example before and after applying normalized systems concept to that segment of the chain. We will then show that although we can minimize the combinatorial effects when changes occur, the lead times will be increased.

Keywords: supply chain, lead time, normalization, modular

Procedia PDF Downloads 125

Authors: Daming Xu, Yuanyuan Wang

Abstract:

Abstract: Under the trend of rapid expansion of urbanization, the motorized urban characteristics become more and more obvious, and the walkability of urban space is seriously affected. The construction of walkability of space, as the main mode of travel for the elderly in their daily lives, has become more and more important in the current social context of serious aging. Settlement is the most basic living unit of residents, and daily shopping, medical care, and other daily trips are closely related to the daily life of the elderly. Therefore, it is of great practical significance to explore the impact of built environment on elderly people's daily walking trips at the settlement level for the construction of pedestrian-friendly settlements for the elderly. The study takes three typical settlements in Harbin Daoli District in three different periods as examples and obtains data on elderly people's walking trips and built environment characteristics through field research, questionnaire distribution, and internet data acquisition. Finally, correlation analysis and multinomial logistic regression model were applied to analyze the influence mechanism of built environment on elderly people's walkability based on the control of personal attribute variables in order to provide reference and guidance for the construction of walkability for elderly people in built environment in the future.

Keywords: built environment, elderly, walkability, multinomial logistic regression model

Procedia PDF Downloads 76

Authors: Clince Rodrigues

Abstract:

Due to high dense areas, there is a continuous increase in the global warming and urban pollution, thus integrating green with the built environment is vital. The paper deals with the understanding of vegetation in architecture and how a proper design strategy can aim at improving not only the performances of buildings but also the outdoor climate. In the present scenario of cities, one cannot inhale pure air. Vegetations combat global warming by absorbing the carbon emitted by vehicles, lowering carbon emissions from fossil fuel-burning plants, and reducing the energy used for climate control in buildings by the use of plants which can reduce the carbon emission and thus, making the environment less polluted. A comparative study of areas, neighborhood and dwelling unit has been used as a scope for understanding different scenarios and scale. By comparing a system (area; building) with and without vegetation, and then finding out the difference. Understanding the Vijayawada city by taking its past and present conditions, and how these changes have affected the environment and people at a macro and micro level. Built environment and climactic performance at the building level and surrounding spaces are the areas that are covered in the study.

Keywords: climate, environment, neighborhood, pollution, vegetation, Vijayawada, urban

Procedia PDF Downloads 157

Authors: Nordin Mamat, Abdul Rahim Razalli, Loy Chee Luen, Abdul Talib Hashim

Abstract:

This study was designed to investigate preschool environment in multi-ethnic preschool in Malaysia. The objectives are to identify the quality of work environment in multi-ethnic preschools; to investigate the practices of teachers’ role and responsibility; and to identify the quality of human resources. The study involved 2004 respondents who are the staff of multi-ethnic preschool from the government agency who provide preschool service. This study was conducted using a mixed method in which questionnaires and interviews were used to obtain data from respondents. The findings were analysed using mean and used Likert scale to determine the three-stage level such as the high, moderate and low. Findings indicated that the work environment at a moderate level, but the facilities provided insufficient to carry out educational activities with children. The result based on ranking of duties and responsibilities of teachers in multi-ethnic preschool shows the teachers practice daily record of children's development is very little, that only 65 persons are recording the child's development. The poor ratio of teachers and child in multi-ethnic preschool is between 25 to 35 children per class which means the children need a lot of attention. Meanwhile, the work environment is moderate with a mean score of 3.65 and overall mean score for level of staff career development 3.66 also moderate. The findings indicate the facilities provided in their workplace and staff career development requires improvements. Overall, the level of work environment is moderate, and it needs an improvement in term of facilities.

Keywords: environment, human resources, multi-ethnic preschool, quality teacher

Procedia PDF Downloads 323

Authors: Katherine Denise Queri

Abstract:

Around the world, there are many corporations and other business organizations who promote the welfare of the society. They are found inside the communities where they naturally perform work. Their aim is to maximize their respective returns on investment while measuring the impact of their activities on the environment. The Senate in the Philippines formed a bill that seeks to foster sustainable economic and environment development and environment protection, among other things, by institutionalizing the corporate responsibility of corporations, whether domestic and foreign, partnership and other establishment performing business in the country. Under the Senate Bill 1239 or an act institutionalizing corporate social responsibility, providing incentives therefor, and for other purposes, all business organizations are mandated to consider the interest of society by taking responsibility for the impact of their activities on customers, employees, shareholders communities and environment. In return, businesses shall comply with the mandate of this proposed measure shall be entitled to full deductions of the expenses incurred in connection thereto.

Keywords: ateneo, corporate social responsibility (CSR), industrial relations, marketing, up

Procedia PDF Downloads 372

Authors: Marco Sewald

Abstract:

Due to the current enforcement of exterritorial U.S. legislation, up to 9 million U.S. (dual) citizens residing abroad are subject to U.S. double and surcharge taxation and at risk of losing access to otherwise basic financial services and investment opportunities abroad. The United States is the only OECD country that taxes non-resident citizens, lawful permanent residents and other non-resident aliens on their worldwide income, based on local U.S. tax laws. To enforce these policies the U.S. has implemented ‘saving clauses’ in all tax treaties and implemented several compliance provisions, including the Foreign Account Tax Compliance Act (FATCA), Qualified Intermediaries Agreements (QI) and Intergovernmental Agreements (IGA) addressing Foreign Financial Institutions (FFIs) to implement these provisions in foreign jurisdictions. This policy creates systematic cases of double and surcharge taxation. The increased enforcement of compliance rules is creating additional report burdens for U.S. persons abroad and FFIs accepting such U.S. persons as customers. FFIs in Europe react with a growing denial of specific financial services to this population. The numbers of U.S. citizens renouncing has dramatically increased in the last years. A case study is chosen as an appropriate methodology and research method, as being an empirical inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used. This evaluative approach is testing whether the combination of policies works in practice, or whether they are in accordance with desirable moral, political, economical aims, or may serve other causes. The research critically evaluates the financial and non-financial consequences and develops sufficient strategies. It further discusses these strategies to avoid the undesired consequences of exterritorial U.S. legislation. Three possible strategies are resulting from the use cases: (1) Duck and cover, (2) Pay U.S. double/surcharge taxes, tax preparing fees and accept imposed product limitations and (3) Renounce U.S. citizenship and pay possible exit taxes, tax preparing fees and the requested $2,350 fee to renounce. While the first strategy is unlawful and therefore unsuitable, the second strategy is only suitable if the U.S. citizen residing abroad is planning to move to the U.S. in the future. The last strategy is the only reasonable and lawful way provided by the U.S. to limit the exposure to U.S. double and surcharge taxation and the limitations on financial products. The results are believed to add a perspective to the current academic discourse regarding U.S. citizenship based taxation, currently dominated by U.S. scholars, while providing sufficient strategies for the affected population at the same time.

Keywords: citizenship based taxation, FATCA, FBAR, qualified intermediaries agreements, renounce U.S. citizenship

Procedia PDF Downloads 201

Authors: Meihua Fang, Yipan Guo, Tao Fei, Pengyu Tian

Abstract:

Space plasma caused spacecraft surface charging is the major space environment hazard. Particle in cell (PIC) method can be used to simulate the interaction between space plasma and spacecraft. It was proved that surface charging level of spacecraft in Jupiter’s orbits was high for its’ electron-heavy plasma environment. In this paper, Jovian plasma environment is modeled and surface charging analysis is carried out by PIC based software Spacecraft Plasma Interaction System (SPIS). The results show that the spacecraft charging potentials exceed 1000V at 2Rj, 15Rj and 25Rj polar orbits in the dark side at worst case plasma model. Furthermore, the simulation results indicate that the large Jovian magnetic field increases the surface charging level for secondary electron gyration.

Keywords: Jupiter, PIC, space plasma, surface charging

Procedia PDF Downloads 150

Authors: Chen Shuwen, Nunthapin Chantachaimongkol

Abstract:

Since the world has moved into a transitional period, known as globalization; the business environment is now more complicated than ever before. Corporate information has become a matter of great importance for stakeholders, in order to understand the current situation. As a result of this, the concept of corporate governance has been broadly introduced to manage and control the affairs of corporations while businesses are required to disclose both financial and non-financial information to public via various communication channels such as the annual report, the financial report, the company’s website, etc. However, currently there are several other issues related to asymmetric information such as moral hazard or adverse selection that still occur intensively in workplaces. To prevent such problems in the business, it is required to have an understanding of what factors strengthen their transparency, accountability, fairness, and responsibility. Under aforementioned arguments, this paper aims to propose a conceptual framework that enables an investigation on how corporate governance mechanism influences disclosure efficiency of listed companies in the Association of Southeast Asia Nations (ASEAN) and the factors that should be considered for further development of good behaviors, particularly in regards to voluntary disclosure practices. To achieve its purpose, extensive reviews of literature are applied as a research methodology. It is divided into three main steps. Firstly, the theories involved with both corporate governance and disclosure practices such as agency theory, contract theory, signaling theory, moral hazard theory, and information asymmetry theory are examined to provide theoretical backgrounds. Secondly, the relevant literatures based on multi- perspectives of corporate governance, its attributions and their roles on business processes, the influences of corporate governance mechanisms on business performance, and the factors determining corporate governance characteristics as well as capability are reviewed to outline the parameters that should be included in the proposed model. Thirdly, the well-known regulatory document OECD principles and previous empirical studies on the corporate disclosure procedures are evaluated to identify the similarities and differentiations with the disclosure patterns in the ASEAN. Following the processes and consequences of the literature review, abundant factors and variables are found. Further to the methodology, additional critical factors that also have an impact on the disclosure behaviors are addressed in two groups. In the first group, the factors which are linked to the national characteristics - the quality of national code, legal origin, culture, the level of economic development, and so forth. Whereas in the second group, the discoveries which refer to the firm’s characteristics - ownership concentration, ownership’s rights, controlling group, and so on. However, because of research limitations, only some literature are chosen and summarized to form part of the conceptual framework that explores the relationship between corporate governance and the disclosure practices of listed companies in ASEAN.

Keywords: corporate governance, disclosure practice, ASEAN, listed company

Procedia PDF Downloads 192

Authors: Roberto M. G. Velásquez, Jonas R. Gazoli, Nelson Ponce Jr, Valério L. Borges, Alessandro Sete, Fernanda M. C. Tomé, Julian D. Hunt, Heitor C. Lira, Cristiano L. de Souza, Fabio T. Bindemann, Wilmar Wounnsoscky

Abstract:

Nowadays, society is working toward reducing energy losses and greenhouse gas emissions, as well as seeking clean energy sources, as a result of the constant increase in energy demand and emissions. Energy loss occurs in the gas pressure reduction stations at the delivery points in natural gas distribution systems (city gates). Installing pressure reduction turbines (PRT) parallel to the static reduction valves at the city gates enhances the energy efficiency of the system by recovering the enthalpy of the pressurized natural gas, obtaining in the pressure-lowering process shaft work and generating electrical power. Currently, the Brazilian natural gas transportation network has 9,409 km in extension, while the system has 16 national and 3 international natural gas processing plants, including more than 143 delivery points to final consumers. Thus, the potential of installing PRT in Brazil is 66 MW of power, which could yearly avoid the emission of 235,800 tons of CO2 and generate 333 GWh/year of electricity. On the other hand, an economic viability analysis of these energy efficiency projects is commonly carried out based on estimates of the project's cash flow obtained from several variables forecast. Usually, the cash flow analysis is performed using representative values of these variables, obtaining a deterministic set of financial indicators associated with the project. However, in most cases, these variables cannot be predicted with sufficient accuracy, resulting in the need to consider, to a greater or lesser degree, the risk associated with the calculated financial return. This paper presents an approach applied to the technical-economic viability analysis of PRTs projects that explicitly considers the uncertainties associated with the input parameters for the financial model, such as gas pressure at the delivery point, amount of energy generated by TRP, the future price of energy, among others, using sensitivity analysis techniques, scenario analysis, and Monte Carlo methods. In the latter case, estimates of several financial risk indicators, as well as their empirical probability distributions, can be obtained. This is a methodology for the financial risk analysis of PRT projects. The results of this paper allow a more accurate assessment of the potential PRT project's financial feasibility in Brazil. This methodology will be tested at the Cuiabá thermoelectric plant, located in the state of Mato Grosso, Brazil, and can be applied to study the potential in other countries.

Keywords: pressure reduction turbine, natural gas pressure drop station, energy efficiency, electricity generation, monte carlo methods

Procedia PDF Downloads 113

Authors: Hideaki Endo, Mika Goto

Abstract:

The global outbreak of the COVID-19 pandemic has seriously affected railway businesses. The number of railway passengers decreased due to the decline in the number of commuters and business travelers to avoid crowded trains and a sharp drop in inbound tourists visiting Japan. This has affected not only railway businesses but also related businesses, including hotels, leisure businesses, and retail businesses at station buildings. In 2021, the companies were divided into profitable and loss-making companies. This division suggests that railway companies, particularly loss-making companies, needed to decrease operational inefficiency. To measure the impact of COVID-19 and discuss the sustainable management strategies of railway companies, we examine the cost inefficiency of Japanese listed railway companies by applying stochastic frontier analysis (SFA) to their operational and financial data. First, we employ the stochastic frontier cost function approach to measure inefficiency. The cost frontier function is formulated as a Cobb–Douglas type, and we estimated parameters and variables for inefficiency. This study uses panel data comprising 26 Japanese-listed railway companies from 2005 to 2020. This period includes several events deteriorating the business environment, such as the financial crisis from 2007 to 2008 and the Great East Japan Earthquake of 2011, and we compare those impacts with those of the COVID-19 pandemic after 2020. Second, we identify the characteristics of the best-practice railway companies and examine the drivers of cost inefficiencies. Third, we analyze the factors influencing cost inefficiency by comparing the profiles of the top 10 railway companies and others before and during the pandemic. Finally, we examine the relationship between cost inefficiency and the implementation of efficiency measures for each railway company. We obtained the following four findings. First, most Japanese railway companies showed the lowest cost inefficiency (most efficient) in 2014 and the highest in 2020 (least efficient) during the COVID-19 pandemic. The second worst occurred in 2009 when it was affected by the financial crisis. However, we did not observe a significant impact of the 2011 Great East Japan Earthquake. This is because no railway company was influenced by the earthquake in this operating area, except for JR-EAST. Second, the best-practice railway companies are KEIO and TOKYU. The main reason for their good performance is that both operate in and near the Tokyo metropolitan area, which is densely populated. Third, we found that non-best-practice companies had a larger decrease in passenger kilometers than best-practice companies. This indicates that passengers made fewer long-distance trips because they refrained from inter-prefectural travel during the pandemic. Finally, we found that companies that implement more efficiency improvement measures had higher cost efficiency and they effectively used their customer databases through proactive DX investments in marketing and asset management.

Keywords: COVID-19 pandemic, stochastic frontier analysis, railway sector, cost efficiency

Procedia PDF Downloads 74

Authors: Ila Gupta

Abstract:

The government hospitals in India by and large lack the necessary aesthetic therapeutic components, both in their interior and exterior space designs. These components especially in terms of color application are important to the emotional as well as physical well being of the patients and other participants of the space. The preliminary survey of few government hospitals in Uttarakhand, India, reveals that the government health care industry provides a wide scope for intervention. All most all of the spaces do not adhere to a proper therapeutic color scheme which directly helps the well-being of their patients and workers. The paper aims to conduct a survey and come up with recommendations in this regard. The government hospitals also lack a proper signage system which allows the space to be more user-friendly. The hospital spaces in totality also have scope for improvement in terms of space/landscape design which enhances the work environment in an efficient and positive way. This study will thus enable to come up with feasible recommendations for healthcare and built environment as well as retrofitting the existing spaces. The objective of the paper is mainly on few case studies. The present ambience in many government hospitals generally lacks a welcoming ambience. It is proposed to select one or two government hospitals and demonstrate application of appropriate and self-sustainable color schemes, placement of artifacts, changes in outdoor and indoor space design to bring about a change that is conducive for cognitive healing. Exterior changes to existing and old hospital buildings in depressed historic areas signify financial investment and change, and have the potential to play a significant role in both urban preservation and revitalization. Changes to exterior architectural colors are perhaps the most visible signifier of such revitalization, as the use of color changes as a tool in façade and interior improvement programs. The present project will provide its recommendations on the basis of case studies done in the Indian Public Health Care system. Furthermore, the recommendations will be in accordance with the extended study conducted in Indian Ayurvedic, Yogic texts as well as Vastu texts, which provides knowledge about built environments and healing properties of color.

Keywords: color, environment, facade, architectural color history, interior improvement programs, community development, district/government hospitals

Procedia PDF Downloads 167

Authors: Abdullah Erden, Filiz Erden

Abstract:

In the present information society era, a change is seen in every field together with changing technology. Along with this change, importance given to information and human who is the producer of information increased. Work life and working conditions included in these changes have also been affected. The most important factors that disturb employees in offices are lighting, ventilation, noise and office furniture. Upon arrangement of these according to ergonomic principles, performance and efficiency of employees will increase. Fatigue and stress resulting from office environment are harmful for employees. Attention and efficiency of employee who feels bad will decrease. It should be noted that office employees are human and affected from environment. It should be allowed them to work in comfortable, healthy and peaceful environment. As a result, efficiency will increase and target will be reached. In this study, it has been focused on basic concepts such as office management and efficiency, effects of ergonomics on office efficiency has been examined. Also, a place is given to the factors affecting operational efficiency and effects of physical environment on employees.

Keywords: ergonomics, efficiency, office design, office

Procedia PDF Downloads 467

Authors: Alexander S. Burnasov, Anatoly V. Stepanov, Maria Y. Ilyushkina

Abstract:

In the conditions of transition to the digital economy, the digital environment of the city becomes one of the key factors of its tourism attractiveness. Modern digital environment makes travelling more accessible, improves the quality of travel services and the attractiveness of many tourist destinations. The digitalization of the industry allows to use resources more efficiently, to simplify business processes, to minimize risks, and to improve travel safety. The city promotion as a tourist destination in the foreign market becomes decisive in the digital environment. Information technologies are extremely important for the functioning of not only any tourist enterprise but also the city as a whole. In addition to solving traditional problems, it is also possible to implement some innovations from the tourism industry, such as the availability of city services in international systems of booking tickets and booking rooms in hotels, the possibility of early booking of theater and museum tickets, the possibility of non-cash payment by cards of international payment systems, Internet access in the urban environment for travelers. The availability of the city's digital services makes it possible to reduce ordering costs, contributes to the optimal selection of tourist products that meet the requirements of the tourist, provides increased transparency of transactions. The users can compare prices, features, services, and reviews of the travel service. The ability to share impressions with friends thousands of miles away directly affects the image of the city. It is possible to promote the image of the city in the digital environment not only through world-scale events (such as World Cup 2018, international summits, etc.) but also through the creation and management of services in the digital environment aimed at supporting tourism services, which will help to improve the positioning of the city in the global tourism market.

Keywords: competitiveness, digital environment, travelling, Yekaterinburg

Procedia PDF Downloads 136

Authors: Shah Muhammad Butt, Ahmed Masaud Ansair

Abstract:

Present financial crisis in Higher Educational Institutes (HEIs) is causing lots of problems such as considerable budget cuts, which makes it difficult to meet the ever growing IT based research and learning needs. Institutions are rapidly planning and promoting cloud based approaches for their academic and research needs. A cost-effective hybrid cloud framework for HEIs will provide educational services for campus or intercampus communication. Hybrid cloud framework comprises private and public cloud approaches. This paper will propose the framework based on the Open Source Cloud (OpenNebula for Virtualization, Eucalyptus for Infrastructure and Aneka for programming development environment) combined with CSPs services which are delivered to the end-user via the internet from public clouds such as Google, Microsoft, Zoho, and Salesforce.

Keywords: educational services, hybrid campus cloud, open source, higher educational institutes

Procedia PDF Downloads 481

Authors: Harry Einhorn

Abstract:

This paper aims to explore the integration of Buddhism into educational settings with the goal of fostering the holistic development of children. By incorporating Buddhist principles and practices, educators can create a nurturing environment that cultivates wisdom, compassion, and ethical values in children. The teachings of Buddhism provide valuable insights into mindfulness, compassion, and critical thinking, which can be adapted and applied to educational curricula to enhance children's intellectual, emotional, and moral growth. One of the fundamental aspects of Buddhist philosophy that is particularly relevant to education is the concept of mindfulness. By introducing mindfulness practices, such as meditation and breathing exercises, children can learn to cultivate present-moment awareness, develop emotional resilience, and enhance their ability to concentrate and focus. These skills are essential for effective learning and can contribute to reducing stress and promoting overall well-being in children. Mindfulness practices can also teach children how to manage their emotions and thoughts, promoting self-regulation and creating a positive classroom environment. In addition to mindfulness, Buddhism emphasizes the cultivation of compassion and empathy toward all living beings. Integrating teachings on kindness, empathy, and ethical behavior into the educational framework can help children develop a deep sense of interconnectedness and social responsibility. By engaging children in activities that promote empathy and encourage acts of kindness, such as community service projects and cooperative learning, educators can foster the development of compassionate individuals who are actively engaged in creating a more harmonious and compassionate society. Moreover, Buddhist teachings encourage critical thinking and inquiry, which are crucial skills for intellectual development. By introducing children to fundamental Buddhist concepts such as impermanence, interdependence, and the nature of suffering, educators can engage them in philosophical reflections and broaden their perspectives on life. These teachings promote open-mindedness, curiosity, and a deeper understanding of the interconnectedness of all things. Through the exploration of these concepts, children can develop critical thinking skills and gain insights into the complexities of the world, enabling them to navigate challenges with wisdom and discernment. While integrating Buddhism into education requires sensitivity, cultural awareness, and respect for diverse beliefs and backgrounds, it holds great potential for nurturing the holistic development of children. By incorporating mindfulness practices, fostering compassion and empathy, and promoting critical thinking, Buddhism can contribute to the creation of a more compassionate, inclusive, and harmonious educational environment. This integration can shape well-rounded individuals who are equipped with the necessary skills and qualities to navigate the complexities of the modern world with wisdom, compassion, and resilience. In conclusion, the integration of Buddhism into education offers a valuable framework for cultivating wisdom, compassion, and ethical values in children. By incorporating mindfulness, compassion, and critical thinking into educational practices, educators can create a supportive environment that promotes children's holistic development. By nurturing these qualities, Buddhism can help shape individuals who are not only academically proficient but also morally and ethically responsible, contributing to a more compassionate and harmonious society.

Keywords: Buddhism, education, children, mindfulness

Procedia PDF Downloads 63

Authors: Muhamad N. Borhan, Nur S. Darus, Siti Z. Ishak, Rozmi Ismail, Siti F. M. Razali

Abstract:

Children are at the greater risk to be involved in road traffic collisions due to the complex interaction of various elements in our transportation system. It encompasses interactions between the elements of children and driver behavior along with physical and social environment factors. The present study examined the effect between the collisions severity and physical environment factors on child pedestrian collisions. The severity of collisions is categorized into four injury outcomes: fatal, serious injury, slight injury, and damage. The sample size comprised of 2487 cases of child pedestrian-vehicle collisions in which children aged 7 to 12 years old was involved in Malaysia for the years 2006-2015. A multinomial logistic regression was applied to establish the effect between severity levels and physical environment factors. The results showed that eight contributing factors influence the probability of an injury road surface material, traffic system, road marking, control type, lighting condition, type of location, land use and road surface condition. Understanding the effect of physical environment factors may contribute to the improvement of physical environment design and decrease the collision involvement.

Keywords: child pedestrian, collisions, primary school, road injuries

Procedia PDF Downloads 164