Search results for: commercial sector

Authors: I. Hakki Eraslan, Birol Ozturk, Istemi Comlekci

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This paper begins by defining what is meant by “globalization” in finance and by identifying the sources of value-added in the internationally-competitive financial services sector origination, trading and distribution of debt and equity capital market instruments and their derivatives, foreign exchange trading and securities brokerage, management of market risk and credit risk, loan syndication and structured bank financings, corporate finance and advisory services, and asset management. These activities are considered in terms of a “value-chain” one that ultimately gives rise to the real economic gains attributable to financial-center operations. The research presents available evidence as to where the relevant value-added activities usually take place. It then examines the “centrifugal” and “centripetal” forces that determine the concentration or dispersal of value-added activity in financial intermediation, both interregionally and internationally. Next, the research assesses the factors, which appear to underlie the locational pattern of international financial centers that has evolved. In preparing this paper, also it is examined the current position and the main opportunities and challenges facing world major financial services sector, and attempted to lay out a potential vision and strategies. It is conducted extensive research, including many internal research materials and publications. It is also engaged closely with the academia, industry practitioners and regulators, and consulted market experts from major world financial centers. More than 60 in‐depth consultative sessions were conducted in the past two years which provided insightful suggestions and innovative ideas on how to further financial industry’s position as an international financial centre. The paper concludes with the outlook for the future pattern of financial centers in the global competitive environment. The ideas and advice gathered are condensed into this paper that recommends to the strategic decision leaders a vision and a strategy for financial services sector to move forward amid a highly competitive environment.

Keywords: financial centers, competitiveness, financial services industry, economics

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Authors: Frederick M. Dumisani Xaba, Nokuthula G. Khanyile

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There is a growing demand for greater accountability, transparency and ethical conduct based on sound governance principles in the developing world. Funders, donors and sponsors are increasingly demanding more transparency, better value for money and adherence to good governance standards. The drive towards improved governance measures is largely influenced by the need to ‘plug the leaks’, deal with malfeasance, engender greater levels of accountability and good governance and to ultimately attract further funding or investment. This is the case with the Non-Profit Organizations (NPOs) in South Africa in general, and in the province of KwaZulu-Natal in particular. The paper draws from the good governance theory, stakeholder theory and systems thinking to critically examine the requirements for good governance for the NPO sector from a theoretical and legislative point and to systematically looks at the contours of governance currently among the NPOs. The paper did this through the rigorous examination of the vignettes of cases of governance among selected NPOs based in KwaZulu-Natal. The study used qualitative and quantitative research methodologies through document analysis, literature review, semi-structured interviews, focus groups and statistical analysis from the various primary and secondary sources. It found some good cases of good governance but also found frightening levels of poor governance. There was an exponential growth of NPOs registered during the period under review, equally so there was an increase in cases of non-compliance to good governance practices. NPOs operate in an increasingly complex environment. There is contestation for influence and access to resources. Stakeholder management is poorly conceptualized and executed. Recognizing that the NPO sector operates in an environment characterized by complexity, constant changes, unpredictability, contestation, diversity and divergent views of different stakeholders, there is a need to apply legislative and systems thinking approaches to strengthen governance to withstand this turbulence through a capacity development model that recognizes these contextual and environmental challenges.

Keywords: good governance, non-profit organizations, stakeholder theory, systems theory

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Authors: W. Nootcharin, S. Sujittra, K. Mayuso, K. Kornphimol, M. Rawiwan

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Silver has distinct antibacterial properties and has been used as a component of commercial products with many applications. An increasing number of commercial products cause risks of silver effects for human and environment such as the symptoms of Argyria and the release of silver to the environment. Therefore, the detection of silver in the aquatic environment is important. The colorimetric chemosensor is designed by the basic of ligand interactions with a metal ion, leading to the change of signals for the naked-eyes which are very useful method to this application. Dithizone ligand is considered as one of the effective chelating reagents for metal ions due to its high selectivity and sensitivity of a photochromic reaction for silver as well as the linear backbone of dithizone affords the rotation of various isomeric forms. The present study is focused on the conformation and interaction of silver ion and silver nanoparticles (AgNPs) with dithizone using density functional theory (DFT). The interaction parameters were determined in term of binding energy of complexes and the geometry optimization, frequency of the structures and calculation of binding energies using density functional approaches B3LYP and the 6-31G(d,p) basis set. Moreover, the interaction of silver–dithizone complexes was supported by UV–Vis spectroscopy, FT-IR spectrum that was simulated by using B3LYP/6-31G(d,p) and 1H NMR spectra calculation using B3LYP/6-311+G(2d,p) method compared with the experimental data. The results showed the ion exchange interaction between hydrogen of dithizone and silver atom, with minimized binding energies of silver–dithizone interaction. However, the result of AgNPs in the form of complexes with dithizone. Moreover, the AgNPs-dithizone complexes were confirmed by using transmission electron microscope (TEM). Therefore, the results can be the useful information for determination of complex interaction using the analysis of computer simulations.

Keywords: silver nanoparticles, dithizone, DFT, NMR

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Authors: Mary L. G. S. Senna, Afonso R. Aquino

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The development of tourism causes negative impacts on the environment. It is in this context, through the Ecological Footprint (EF) method that this study aimed to characterize the impacts of ecotourism on the community of Mateiros, Jalapão, Brazil. The EF, which consisted in its original a method to construct a land use matrix, considering some major categories of human consumption such as food, housing, transportation, consumer goods and services, and six other categories from the main land use which are divided into the topics: land use, degraded environment, gardens, fertile land, pasture and forests protected by the government. The main objective of this index is to calculate the land area required for the production and maintenance of goods and services consumed by a community. The field research was conducted throughout the year of 2014 until July 2015. After the calculations of each category, these components were added according to the presented method in order to determine the annual EF of the tourism sector in Mateiros. The results show that the EF resulting from tourism in Mateiros is 2,194.22 hectares of land required for tourism activities in the region. The EF of tourism was considered high, nevertheless, if it is added the total of hectares needed annually for tourism activities, the result found would be 2,194.22 hectares needed to absorb the CO₂ emissions generated in the region directly from the tourism sector.

Keywords: sustainable tourism, tourism ecological footprint, Jalapão/TO/Brazil

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Authors: Jun Wang, Ge Zhang

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Machine learning has been used in many areas today. It thrives at reviewing large volumes of data and identifying patterns and trends that might not be apparent to a human. Given the huge potential benefit and the amount of data available in the financial market, it is not surprising to see machine learning applied to various financial products. While future prices of financial securities are extremely difficult to forecast, we study them from a different angle. Instead of trying to forecast future prices, we apply machine learning algorithms to predict the direction of future price movement, in particular, whether a sector Exchange Traded Fund (ETF) would outperform or underperform the market in the next week or in the next month. We apply several machine learning algorithms for this prediction. The algorithms are Linear Discriminant Analysis (LDA), k-Nearest Neighbors (KNN), Decision Tree (DT), Gaussian Naive Bayes (GNB), and Neural Networks (NN). We show that these machine learning algorithms, most notably GNB and NN, have some predictive power in forecasting out-performance and under-performance out of sample. We also try to explore whether it is possible to utilize the predictions from these algorithms to outperform the buy-and-hold strategy of the S&P 500 index. The trading strategy to explore out-performance predictions does not perform very well, but the trading strategy to explore under-performance predictions can earn higher returns than simply holding the S&P 500 index out of sample.

Keywords: machine learning, ETF prediction, dynamic trading, asset allocation

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Authors: Khadija Mushtaq, Muhammad Umar

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The research aims to study the association between job satisfaction, motivation and the five factors of organizational citizenship behavior (i.e. Altruism, Conscientiousness, Sportsmanship, Courtesy and Civic virtue) among Public Sector Employees in Pakistan.In this research Structure Equation Modeling with confirmatory factor analysis was used to test the relationship between two independent and five dependent variables. Data was collected through questionnaire survey from 152 Public Servants Working in Gujrat District-Pakistan in different capacities. Stratified Random Sampling Technique was used to conduct this survey. The results of the study indicate that five factors of OCB have positive significant relation with both motivation and job satisfaction except the relationship of Civic Virtue with Motivation.The research findings implicate that factors other than motivation and job satisfaction may also affect OCB. Likewise, all the five factors of OCB may not be present in all populations. Thus, Managers must concentrate on increasing motivation and job satisfaction to increase OCB. Furthermore, the present research gives a direction to future researchers to use more independent variables (e.g. Culture, leadership, workplace environment, various job attitudes, types of motivation, etc.) on different types of populations with larger sample size in order to find the reasons behind insignificant relationship of civic virtue with Motivation in the research in hand and to generalize the tested model.

Keywords: five factors of organizational citizenship behavior (OCB), motivation, job satisfaction, public sector employees in Pakistan

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Authors: Alhaji M. H. Conteh, Xiangbin Yan, Alfred V. Gborie

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The goal of this study was to increase the awareness of the description and assessments of rice acreage response and to offer mechanisms for agricultural policy scrutiny. The Ordinary Least Square (OLS) technique was utilized to determine the coefficients of acreage response models for the rice varieties. The magnitudes of the coefficients (λ) of both the ROK lagged and NERICA lagged acreages were found positive and highly significant, which indicates that farmers’ adjustment rate was very low. Regarding lagged actual price for both the ROK and NERICE rice varieties, the short-run price elasticities were lower than long-run, which is suggesting a long-term adjustment of the acreage, is under the crop. However, the apparent recommendations for policy transformation are to open farm gate prices and to decrease government’s involvement in agricultural sector especially in the acquisition of agricultural inputs. Impending research have to be centred on how this might be better realized. Necessary conditions should be made available to the private sector by means of minimizing price volatility. In accordance with structural reforms, it is necessary to convey output prices to farmers with minimum distortion. There is a need to eradicate price subsidies and control, which generate distortion in the market in addition to huge financial costs.

Keywords: acreage response, rate of adjustment, rice varieties, Sierra Leone

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Authors: Terry Liang Khin Teo, Sun Woh Lye, Kai Lun Brendon Goh

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As applied to dynamic monitoring situations, the prevailing approach to situation awareness (SA) assumes that the relevant areas of interest (AOI) be perceived before that information can be processed further to affect decision-making and, thereafter, action. It is not entirely clear whether this is the case. This study seeks to investigate the monitoring of dynamic objects through matching eye fixations with the relevant AOIs in boundary-crossing scenarios. By this definition, a match is where a fixation is registered on the AOI. While many factors may affect monitoring characteristics, traffic simulations were designed in this study to explore two factors, namely: the number of inbounds/outbound traffic transfers and the number of entry and/or exit points in a radar monitoring sector. These two factors were graded into five levels of difficulty ranging from low to high traffic flow numbers. Combined permutation in terms of levels of difficulty of these two factors yielded a total of thirty scenarios. Through this, results showed that changes in the traffic flow numbers on transfer resulted in greater variations having match limits ranging from 29%-100%, as compared to the number of sector entry/exit points of range limit from 80%-100%. The subsequent analysis is able to determine the type and combination of traffic scenarios where imperfect matching is likely to occur.

Keywords: air traffic simulation, eye-tracking, visual monitoring, focus attention

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Authors: Raif Parlakkaya, Huseyin Cetin, Duygu Irdiren

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By the development of World Wide Web, the usage rate of Internet has rapidly grown globally; and provided a basis for the emergence of electronic business. As well as other sectors, the banking sector has adopted the use of internet with the developments in information and communication technologies. Due to the public disclosure and transparency principle of Corporate Governance, the importance of information disclosure of banks on their web sites has increased significantly. For the purpose of this study, a Bank Disclosure Attribute Index (BDAI) in Turkey has been constructed through classifying the information disclosure on banks’ web sites into general, financial, investors and corporate governance attributes. All 47 banks in Turkish Banking System have been evaluated according to the index with the aim of providing a comparison between banks. By Chi Square Test, Pearson Correlation, T-Test, and ANOVA statistical tools, it has been concluded that the majority of banks in Turkey have shared information on their web sites adequately with respect to their total index score. Although there is a positive correlation between various types of information on banks’ web sites, there is no uniformity among them. Also, no significant difference between various types of information disclosure and bank types has been observed. Compared with the total index score averages of the five largest banks in Turkey, there are some banks that need to improve the content of their web sites.

Keywords: internet banking, websites evaluation, customer adoption, Turkey

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Authors: Zain Khalid

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The paper outlines the trends of cyber financial crimes and frauds – approximating upto – in Pakistan after the enactment of The Prevention of Electronic Crimes Act in 2016. The paper elaborates on the newer methods that fraudsters have adopted after tighter preventive and counter measures were employed in Pakistan partly as a result of following the international finance related commitments, particularly the FATF regulations. The paper adopts case studies methods to highlight various aspects of the financial frauds and crimes committed and later investigated jointly by Pakistan’s one of the federal law enforcement agencies, the Federal Investigation Agency, and Mobilink Microfinance Bank , Pakistan’s premier microfinance bank. It additionally enriches the data through expert interviews – with crime investigators and the experts to carry out an in-depth analysis of the various factors involving the crime. This paper emphasizes the structural and situational factors that shape up the cyber financial crimes in Pakistan vis-à-vis digital illiteracy and lack of awareness among the users of financial services. This paper, thus, on the basis of findings and expert interviews, suggests policy reforms to reduce the instances of the financial crimes, especially in the remotest areas of the country.

Keywords: financial crimes, cyber crimes, digital literacy, terrorism financing, banking sector

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Authors: Giorgia Predari, Riccardo Gulli

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The paper describes the history and the stylistic choices adopted in the construction of Palazzo Ronzani in Bologna, which was the first building to rise after the heavy demolitions carried out in the historical center of the city at the beginning of the twentieth century. In 1910, the local administration adopted a detailed plan to change the aspect of the city, as it was already happening in the main European capitals. In this context, starting from 1911, the architect and scenographer Gualtiero Pontoni designed for Alessandro Ronzani -the owner of a well-known Bolognese beer company- his Palazzo, which is listed among the first multifunctional buildings in Bologna, containing offices, commercial activities, and entertainment spaces. In an area of about 2000 m², the architect was able to propose a theatre with a capacity of 2000 seats at the basement, shops, a cafè-chantant and a restaurant on the ground floor, clubs, studios and commercial stores on the mezzanine and the first plan, and a hotel on the upper floors. The whole core of the building, at the underground levels, consisted of a reinforced concrete frame (one of the first examples of this type of construction in the city), which allowed the hall to have a free span of 11 x 12 meters, and a height of about 9 meters. Used until 2007 as a cinema, the hall has remained then in disuse for almost 10 years, but now an important functional restoration project with a strong architectural and scenographic value is taking place. It will bring the spaces back to the original geometries, in a historical and artistic condition inspired by the styles of the early Twentieth century.

Keywords: Modernissimo, Palazzo Ronzani, liberty, Bologna

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Authors: Azlin Suzana Salim

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The 12th Malaysian Plan 2021-2025, issued by the Economic Planning Unit in 2021, outlined one of the six important priorities to support M40 towards equitable society. The Financial Sector Blueprint 2022-2026, released by Bank Negara Malaysia in 2022, further outlined the fifth key thrust focusing on Islamic Social Finance. The purpose of this research is to examine the Legal Framework of bridging Islamic Social Finance to support M40 Income Group in Malaysia. This study adopts a doctrinal legal research method to examine the laws and regulations governing Islamic Social Finance in Malaysia and a qualitative method to examine the Islamic Social Finance Instrument to support the M40 income group. The implication of this study is important to propose the legal framework and bridge the Islamic Social Finance instrument to support the M40 income group in Malaysia. The significance of this study is to realign between priorities of the 12th Malaysian Plan 2021-2025 and the Financial Sector Blueprint 2022-2026.

Keywords: legal framework, Islamic social finance, m40 income group, law and regulation

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Authors: Eduarda Dutra De Souza, Gabriela Hammes, Marina Bouzon, Carlos M. Taboada Rodriguez

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The search for minimizing harmful impacts on the environment has become the focus of global society, affecting mainly how to manage organizations. Thus, companies have sought to transform their activities into environmentally friendly initiatives by applying green practices throughout their supply chains. In the logistics domain, the implementation of environmentally sound practices is still in its infancy in emerging countries such as Brazil. Given the need to reduce these environmental damages, this study aims to evaluate the performance of green logistics (GL) in the plastics industry sector in order to help to improve environmental performance within organizations and reduce the impact caused by their activities. The performance tool was based on theoretical research and the use of experts in the field. The Analytic Hierarchy Process (AHP) was used to prioritize green practices and assign weight to the indicators contained in the proposed tool. The tool also allows the co-production of a single indicator. The developed tool was applied in an industry of the plastic packaging sector. However, this tool may be applied in different industry sectors, and it is adaptable to different sizes of companies. Besides the contributions to the literature, this work also presents future paths of research in the field of green logistics.

Keywords: AHP, green logistics, green supply chain, performance evaluation

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Authors: Abdu Feroz Maluleke

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Digital literacy skills among first-year university students has been under scrutiny in recent years. This is largely due to the pressure faced by the South African higher education sector as the battle to integrate educational technologies into the teaching curriculum. This study aims to investigate the relationship between the Technology Acceptance Model (TAM) and the digital literacy skills of first-year students at the Tshwane University of Technology in South Africa. A positivism quantitative research methodology will be employed to collect data from 468 first-year students at a higher education institution through a validated questionnaire. Descriptive analyses, T-tests, ANOVA, and Spearman's correlation will be conducted using SPSS. Anticipated findings suggest that various demographic factors, such as previous school, self-efficacy, and age, significantly influence learners' digital literacy competency. Furthermore, the projected findings highlight the importance of rural secondary schools adopting and implementing technological pedagogies in their curriculum. This research aims to make a substantial contribution to the development of ICT adoption guidelines for the secondary school curriculum, which would aid the basic educational sector in South Africa.

Keywords: technology acceptance model, digital literacy skills, secondary schools, south africa

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Authors: Julio Aguirre, Yohnny Campana, Elmer Guerrero, Daniel De La Torre Ugarte

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A well-developed transportation network is a necessary condition for a country to derive full benefits from good trade and macroeconomic policies. Road infrastructure plays a key role in the economic development of rural areas of developing countries; where agriculture is the main economic activity. The ability to move agricultural production from the place of production to the market, and then to the place of consumption, greatly influence the economic value of farming activities, and of the resources involved in the production process, i.e., labor and land. Consequently, investment in transportation networks contributes to enhance or overcome the natural advantages or disadvantages that topography and location have imposed over the agricultural sector. This is of particular importance when dealing with countries, like Peru, with a great topographic diversity. The objective of this research is to estimate the impacts of road infrastructure on the performance of the agricultural sector. Specific variables of interest are changes in travel time, shifts of production for self-consumption to production for the market, changes in farmers income, and impacts on the diversification of the agricultural sector. In the study, a cross-section model with instrumental variables is the central methodological instrument. The data is obtained from agricultural and transport geo-referenced databases, and the instrumental variable specification utilized is based on the Kruskal algorithm. The results show that the expansion of road connectivity reduced farmers' travel time by an average of 3.1 hours and the proportion of output sold in the market increases by up to 40 percentage points. The increase in connectivity has an unexpected increase in the districts index of diversification of agricultural production. The results are robust to the inclusion of year and region fixed-effects, and to control for geography (i.e., slope and altitude), population variables, and mining activity. Other results are also very eloquent. For example, a clear positive impact can be seen in access to local markets, but this does not necessarily correlate with an increase in the production of the sector. This can be explained by the fact that agricultural development not only requires provision of roads but additional complementary infrastructure and investments intended to provide the necessary conditions so that producers can offer quality products (improved management practices, timely maintenance of irrigation infrastructure, transparent management of water rights, among other factors). Therefore, complementary public goods are needed to enhance the effects of roads on the welfare of the population, beyond enabling them to increase their access to markets.

Keywords: agriculture devolepment, market access, road connectivity, regional development

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Authors: Ilir Rexhepi, Naim Ismajli

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Quality and quality management are key factors of success nowadays. Public sector and quality management in this sector contains many challenges and difficulties, most notably in a new country like Kosovo. This study analyses the process of implementation of quality management system in public administration institutions in this country. The main objective is to show how to set up a quality management system and how does the quality management system setup affect the overall public administration services in Kosovo. This study shows how the efficiency and effectiveness of public institution services/performance is rapidly improving through the establishment and functionalization of Quality Management System. The specific impact of established QMC within the organization has resulted with the identification of mission related processes within the entire system including input identification, the person in charge and the way of conversion to the output of each activity though the interference with other service processes within the system. By giving detailed analyses of all steps of implementation of the Quality Management System, its effect and consequences towards the overall public institution service performance, we try to go one step further, by showing it as a very good example or tool of other public institutions for improving their service performance. Interviews with employees, middle and high level managers including the quality manager and general secretaries are also part of analyses in this paper.

Keywords: quality, quality management system, efficiency, public administration institutions

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Authors: Vitheejongjaroen P., Jaisin Y., Pachekrepapol U., Taweechotipatr M.

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Lactic acid bacteria (LAB) are the most common type of microorganisms that had been used as probiotics also known for many beneficial health effects. The antioxidant activity of LAB is associated with numerous health-protective effects. This research aimed to investigate the antioxidant activity of lactic acid bacteria isolated from Thai sour pork sausage for their application in fermented milk products. Antioxidant activity determined by DPPH (2,2-diphenyl-1-picrylhydrazyl) radical scavenging assay showed that the isolate FN33-7, as 1 of 8 isolated exhibited scavenging activity in intact cell 5-7%, and supernatant 13-16%, intracellular cell free extract 42-48% respectively. This isolate was identified using 16S ribosomal DNA sequence analysis as Lactobacillus plantarum. The effect of milk fermented with L. plantarum FN33-7 on microbial count, pH and syneresis was assessed during refrigerated storage period of 28 days. The strain showed increased viability, pH level decreased, while syneresis increased. These results are similar to dairy products fermented with commercial starter cultures. Additionally, microstructure analysis of fermented milk by fluorescent microscopy showed that curd structure appeared to be dense and less porous in this fermented milk than commercial yogurt. The results of this study indicated that L. plantarum FN33-7 was a good probiotic candidate to be used in cultured milk products to reduce the risk of diseases caused by oxidative stress.

Keywords: Lactobacillus plantarum, probiotics, free radical, antioxidant, oxidative stress, fermented milk products

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Authors: M. L. Moyo

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Concerns about climate change, food productivity, and the ever-increasing cost of commercial fertilizer products is forcing have spurred interest in the production of alternatives or substitutes for commercial fertilizer products. In this study, the potential of pyrolytic tire char (PT-char) to improve soil productivity was investigated. The use of carbonized biomass, which is commonly termed biochar or biofertilizer and exhibits similar properties to PT-char in agriculture is not new, with historical evidence pointing to the use of charcoal for soil improvement by indigenous Amazon people for several centuries. Due to minimal market value or use of PT-char, huge quantities are currently stockpiled in South Africa. This successively reduces revenue and decreases investments in waste tire recycling efforts as PT-char constitutes 40 % weight of the total waste tire pyrolysis products. The physicochemical analysis results reported in this study showed that PT-char contains a low concentration of essential plant elements (P and K) and, therefore, cannot be used for increasing nutrient availability in soils. A low presence of heavy metals (Ni, Pb, and Cd), which may be harmful to the environment at high application rates was also observed. In addition, the results revealed that PT-char contains very high levels of Zn, a widely known phytotoxicity causing agents in plants. However, the study also illustrated that PT-char is made up of a highly aromatic and condensed carbon structure. PT-char is therefore highly stable, less prone to microbial degradation, and has a low chemical reactivity in soils. Considering these characteristics, PT-char meets the requirements for use as a carbon sequestration agent, which may be useful in mitigating climate change.

Keywords: agriculture, carbon sequestration, physicochemical analysis, pyrolytic tire char, soil amendment.

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Authors: Ali Babaei

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There is a worldwide growing tendency toward construction of infrastructures with the possibility of private sector participation instead of free exploitation of public infrastructures. The construction and development of roads through private sector participation is performed by different countries because of appropriate results and benefits such as compensation of public budget deficit in road construction and maintenance and responding to traffic growth (demand). Toll is the most definite form of budget provision in road development. There are two issues in the toll rate assignment: A. costing of transport, B. Cost allocation and distribution of cost between different types of vehicles as each vehicle pay its own share. There can be different goals in toll collection and its extent is variable according to the strategy of toll collection. Costing principles in different countries are based on inclusion of the whole transport and not peculiar to the toll roads. For example, fuel tax policy functions where the road network users pay transportation cost (not just users of toll road). Whereas transportation infrastructures in Iran are free, these methods are not applicable. In Iran, different toll freeways have built by public investment and government provides participation in the road construction through encouragement of financial institutions. In this paper, the existing policies about the toll roads are studied and then the appropriate method of costing and cost allocation to different vehicles is introduced.

Keywords: toll allocation, road pricing, transportation, financial and industrial systems

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Authors: Mohammed Gamil Montasser, Angelo Battaglia

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Entrepreneurship is mostly related to the beginning of organization. In growing business organizations, entrepreneurship expands its conceptualization. It reveals itself through new business creation in the active organization, through renewal, change, innovation, creation and development of current organization, through breaking and changing of established rules inside or outside the organization and becomes more flexible, adaptive and competitive, also improving effectiveness of organization activity. Therefore, the topic of entrepreneurship, relates the creation of firms to personal / individual characteristics of the entrepreneurs and their social context. This paper is an empirical study, which aims to address these two gaps in the literature. For this endeavor, we use the latest available data from the Global Entrepreneurship Monitor (GEM) project. This data set is widely regarded as a unique source of information about entrepreneurial activity, as well as the aspirations and attitudes of individuals across a wide number of countries and territories worldwide. This paper tries to contribute to fill this gap, by exploring the key drivers of innovative entrepreneurship in the tourism sector. Our findings are consistent with the existing literature in terms of the individual characteristics of entrepreneurs, but quite surprisingly we find an inverted U-shape relation between human development and innovative entrepreneurship in tourism sector. It has been revealed that tourism entrepreneurs are less likely to have innovative products, compared with entrepreneurs in medium developed countries.

Keywords: GEM, human development, innovative entrepreneurship, occupational choice, tourism

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Authors: Mun Yee Chan, Sin Ming Goh, Lisa Gaik Ai Ong

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Approximately 10,000 different types of dyes and pigments are being used in various industrial applications yearly, which include the textile and printing industries. However, these dyes are difficult to degrade naturally once they enter the aquatic system. Their high persistency in natural environment poses a potential health hazard to all form of life. Hence, there is a need for alternative dye removal strategy in the environment via bioremediation. In this study, fungi laccase is investigated via commercial agar dyes plates and submerged fermentation to explore the application of fungi laccase in textile dye wastewater treatment. Two locally isolated basidiomycetes were screened for laccase activity using media added with commercial dyes such as 2, 2-azino-bis (3-ethylbenzothiazoline-6-sulfonic acid (ABTS), guaiacol and Remazol Brillant Blue R (RBBR). Isolate TBB3 (1.70±0.06) and EL2 (1.78±0.08) gave the highest results for ABTS plates with the appearance of greenish halo on around the isolates. Submerged fermentation performed on Isolate TBB3 with the productivity 3.9067 U/ml/day, whereas the laccase activity for Isolate EL2 was much lower (0.2097 U/ml/day). As isolate TBB3 showed higher laccase production, it was subjected to molecular characterization by DNA isolation, PCR amplification and sequencing of ITS region of nuclear ribosomal DNA. After being compared with other sequences in National Center for Biotechnology Information (NCBI database), isolate TBB3 is probably from species Trametes hirsutei. Further research work can be performed on this isolate by upscale the production of laccase in order to meet the demands of the requirement for higher enzyme titer for the bioremediation of textile dyes.

Keywords: bioremediation, dyes, fermentation, laccase

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Authors: Asowata Osamede, Christo Pienaar, Johan Bekker

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Mismatch in electrical energy (power) or outage from commercial providers, in general, does not promote development to the public and private sector, these basically limit the development of industries. The necessity for a well-structured photovoltaic (PV) system is of importance for an efficient and cost-effective monitoring system. The major renewable energy potential on earth is provided from solar radiation and solar photovoltaics (PV) are considered a promising technological solution to support the global transformation to a low-carbon economy and reduction on the dependence on fossil fuels. Solar arrays which consist of various PV module should be operated at the maximum power point in order to reduce the overall cost of the system. So power regulation and conditioning circuits should be incorporated in the set-up of a PV system. Power regulation circuits used in PV systems include maximum power point trackers, DC-DC converters and solar chargers. Inappropriate choice of power conditioning device in a basic off-grid PV system can attribute to power loss, hence the need for a right choice of power conditioning device to be coupled with the system of the essence. This paper presents the design and implementation of a power conditioning devices in order to improve the overall yield from the availability of solar energy and the system’s total efficiency. The power conditioning devices taken into consideration in the project includes the Buck and Boost DC-DC converters as well as solar chargers with MPPT. A logging interface circuit (LIC) is designed and employed into the system. The LIC is designed on a printed circuit board. It basically has DC current signalling sensors, specifically the LTS 6-NP. The LIC is consequently required to program the voltages in the system (these include the PV voltage and the power conditioning device voltage). The voltage is structured in such a way that it can be accommodated by the data logger. Preliminary results which include availability of power as well as power loss in the system and efficiency will be presented and this would be used to draw the final conclusion.

Keywords: tilt and orientation angles, solar chargers, PV panels, storage devices, direct solar radiation

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Authors: Maryam Aloshan, Imam Mohammad Ibn Saud, Ahmad Khudair

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This study assesses the data governance maturity of nonprofit organizations in Riyadh, Saudi Arabia, using the National Data Maturity Index (NDI) framework developed by the Saudi Data and Artificial Intelligence Authority (SDAIA). Employing a survey designed around the NDI model, data maturity levels were evaluated across 14 dimensions using a 5-point Likert scale. The results reveal a spectrum of maturity levels among the organizations surveyed: while some medium-sized associations reached the ‘Defined’ stage, others, including large associations, fell within the ‘Absence of Capabilities’ or ‘Building’ phases, with no organizations achieving the advanced ‘Established’ or ‘Pioneering’ levels. This variation suggests an emerging recognition of data governance but underscores the need for targeted interventions to bridge the maturity gap. The findings point to a significant opportunity to elevate data governance capabilities in Saudi nonprofits through customized capacity-building initiatives, including training, mentorship, and best practice sharing. This study contributes valuable insights into the digital transformation journey of the Saudi nonprofit sector, aligning with national goals for data-driven governance and organizational efficiency.

Keywords: nonprofit organizations-national data maturity index (NDI), Saudi Arabia- SDAIA, data governance, data maturity

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Authors: Mezhoud Samy, Toumi Youcef, Boukendekdji Otmane

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Nowadays, industrial by-products and waste are increasing along with public needs increase. The engineering sector has turned to sustainable development by emphasizing the aspects of environmental and life cycle assessment as an important objective. Among this waste, the remains of the red bricks (DBR) may be an alternative worth checking out, given their availability and abundance at the construction sites. In this context, this work aims to valorize DBR in the concrete road (BR). The incorporation of DBR is carried out by the substitution of the granular fractions of mixtures from noble quarry materials. The experimental plan aims to determine the physico-mechanical performance and environmental performance of manufactured BRs from DBR with a cement content (6.5%) and compared with a control BR without DBR. The studied characteristics are proctor, resistance to compression, resistance to flexural tensile at 7 and 28 days, modulus of elasticity, and total shrinkage. The results of this experimental study showed that the characteristics of recycled aggregates (DBR) are lower than those of natural aggregates but remain acceptable with respect to regulations. Results demonstrate the mechanical performance of BR made from less DBR than the control BR without DBR but remains appreciable and encourage their jobs in the road sector. Recycled aggregates can constitute an interesting economic and ecological alternative but require elementary precautions before any use.

Keywords: life cycle assessment, brick waste, road concrete, performance

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Authors: Marta Fernández Olmos, Ana Gargallo Castel, Alice Salami

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The literature has shown the importance of studying the issue of business survival in highly competitive environments. In particular, the wine sector has certain characteristics that make it interesting to study factors that increase the possibility of wineries' survival, such as individual productivity, winery size, age, innovation efforts or the maturity of the industry itself, among others. Due to the importance of these factors, this research aims to analyze whether the possibility of wineries' survival increases if they are family businesses or if there is gender diversity in senior management. To this end, a nationwide survey was carried out. The sample was made up of wineries from all the Spanish appellations of origin, using this sample to analyze the survival of the diverse types of wineries according to the factors to be studied. The main results indicate that family wineries survive longer, suggesting that this may be due to the fact that the main objective of family wineries is the continuity of the business in the long term. Regarding gender diversity, wineries that have a female presence in top roles in management, adding gender diversity, survive more than those with a predominantly male presence. Based on these results, it is advisable to consider the importance of family businesses, especially in this type of sector. In addition, support should be provided for the inclusion of a female labor force to improve the possibility of survival.

Keywords: gender, family business, wine industry, survival

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Authors: Moussa Majed, Omar Yaser

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The main objective of this experiment was to study the impact of Probiotic compound on the specific immunity as the case study of infectious bursal disease. Total of 8000 one-day old Ross 108 broiler were randomly divided into two experimental groups; control group (4500 birds) and experimental group (3500 birds). Birds in two groups were reared under similar environmental conditions. Birds in control group received basal diets without probiotic whereas the birds in experimental one were fed basal diets supplemented with a commercial probiotic mixture) probiotic lacting k, which contains bacteria cells beyond to lactobacillus, Streptococcus and bifidobacterium genus that are isolated from gut microflora in healthy chickens(. The commercial probiotic were used according to the manufacturer instruction. 400 blood samples for each group were collected from wing vein every 5-7 days as interval period till 42 days old. Indirect Enzyme-Linked Immunosorbent Assay (ELISA) test was performed to detect the level of infectious bursal disease virus (IBDV) antibodies. The results clearly showed that the mean of immune titers was significantly (p= 0.03) higher in trail group than control one. The coefficient of variance percentages were 55% and 39% for control and trial groups respectively, this illustrates that homogeneity of immunity titers in the trail group was much better comparing with control group. The values of geometric means of titers in the control group and trial group were reported 3820 and 8133, respectively. The crude mortality rate in the experimental group was two times lower comparing with control group (14% and 28% respectively, p = 0.005

Keywords: probiotic, broiler chicken, infectious bursal disease, immunity, ELISA test

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Authors: V. V. Fomin, A. P. Mikhailovich, E. M. Agapitov, V. E. Rogachev, E. A. Kostousova, E. S. Perekhodova

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Ground-level landscape photos can be used as a source of objective data on woody vegetation and vegetation dynamics. We proposed a method for processing, analyzing, and presenting ground photographs, which has the following advantages: 1) researcher has to form holistic representation of the study area in form of a set of interlapping ground-level landscape photographs; 2) it is necessary to define or obtain characteristics of the landscape, objects, and phenomena present on the photographs; 3) it is necessary to create new or supplement existing textual descriptions and annotations for the ground-level landscape photographs; 4) single or multiple ground-level landscape photographs can be used to develop specialized geoinformation layers, schematic maps or thematic maps; 5) it is necessary to determine quantitative data that describes both images as a whole, and displayed objects and phenomena, using algorithms for automated image analysis. It is suggested to match each photo with a polygonal geoinformation layer, which is a sector consisting of areas corresponding with parts of the landscape visible in the photos. Calculation of visibility areas is performed in a geoinformation system within a sector using a digital model of a study area relief and visibility analysis functions. Superposition of the visibility sectors corresponding with various camera viewpoints allows matching landscape photos with each other to create a complete and wholesome representation of the space in question. It is suggested to user-defined data or phenomenons on the images with the following superposition over the visibility sector in the form of map symbols. The technology of geoinformation layers’ spatial superposition over the visibility sector creates opportunities for image geotagging using quantitative data obtained from raster or vector layers within the sector with the ability to generate annotations in natural language. The proposed method has proven itself well for relatively open and clearly visible areas with well-defined relief, for example, in mountainous areas in the treeline ecotone. When the polygonal layers of visibility sectors for a large number of different points of photography are topologically superimposed, a layer of visibility of sections of the entire study area is formed, which is displayed in the photographs. Also, as a result of this overlapping of sectors, areas that did not appear in the photo will be assessed as gaps. According to the results of this procedure, it becomes possible to obtain information about the photos that display a specific area and from which points of photography it is visible. This information may be obtained either as a query on the map or as a query for the attribute table of the layer. The method was tested using repeated photos taken from forty camera viewpoints located on Ray-Iz mountain massif (Polar Urals, Russia) from 1960 until 2023. It has been successfully used in combination with other ground-based and remote sensing methods of studying the climate-driven dynamics of woody vegetation in the Polar Urals. Acknowledgment: This research was collaboratively funded by the Russian Ministry for Science and Education project No. FEUG-2023-0002 (image representation) and Russian Science Foundation project No. 24-24-00235 (automated textual description).

Keywords: woody, vegetation, repeated, photographs

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Authors: Sérgio J. Teixeira, João J. Ferreira

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Tourism frequently gets identified as one of the sectors with the greatest potential for expansion on a global scale and hence conveying the importance of attempting to better understand the regional factors of competitiveness prevailing in this sector. This study’s objective essentially strives to provide a mapping of the scientific publications and the intellectual knowledge therein contained while conveying past research trends and identifying potential future lines of research in the fields of regional competitiveness and tourism innovation. This correspondingly deploys a systematic review of the literature in keeping with the bibliometric approach based upon VOSviewer software, with a particular focus on drafting maps for visualising the underlying intellectual structure. This type of analysis encapsulates the number of articles published and their annual number of citations for the period between 1900 and 2016 as registered by the Web of Science database. The results demonstrate how the intellectual structure on regional competitiveness divides essentially into three major categories: regional competitiveness, tourism innovation, and tourism clusters. Thus, the main contribution of this study arises out of identifying the main research trends in this field and the respective shortcomings and specific needs for future scientific research in the field of regional competitiveness and innovation in tourism.

Keywords: regional competitiveness, tourism cluster, bibliometric studies, tourism innovation, systematic review

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Authors: Abigail Amoah, George Ofori, George Agyekum-Mensah, Matthew Brian Wright, Job Momoh

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The objective of this study was to examine the mental health triggers, challenges, and support for mental health needs within the UK construction industry, which is seen as one of the high-pressure working environments with jobs that can be physically demanding and, traditionally, suffer from ‘Macho’ culture. The sector makes a substantial contribution to the UK’s economy, but despite this economic significance, mental health issues are still thoroughly attended to due to stigmatisation. Through semi-structured interviews with clients, consultants, and contractors, the research helps to understand better how mental health is perceived by these key stakeholders in the UK construction industry. Clients identify high-pressure deadlines and financial risks as major stressors, consultants point to the incessant workload culture coupled with project constraints, and contractors emphasize insufficient resource concerns and physical demands. this study reveals significant organisational and cultural barriers to mental health. The study proposes the following recommendations: the need to implement bespoke mental health programmes for the industry, better communication channels, and implementing industry-standard policies to enhance a supportive environment. These specifications provide actionable insights to support well-being and productivity within the sector.

Keywords: construction industry, mental health, supportive mechanisms, workplace stress

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Authors: Sahar Essa, Hussain A. Safar, Raj Raghupathy

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Human cytomegalovirus (CMV) continues to be a source of severe complications in immunologically immature and immunocompromised hosts. Effective CMV vaccines that help diminish CMV disease in transplant patients and avoid congenital infection are of great importance. Though the exact roles of defense mechanisms are unidentified, viral-specific antibodies and cytokine responses are known to be involved in controlling CMV infections. CMV envelope glycoprotein B (UL55/gB), matrix proteins (UL83/pp65, UL99/pp28, UL32/pp150), and assembly protein UL80a/pp38 are known to be targets of antiviral immune responses. We immunized mice intraperitoneally with these five CMV-related proteins (commercial) for their ability to induce specific antibody responses (in-house immunoassay) and cytokine production (commercial assay) in a mouse model. We observed a significant CMV-antigen-specific antibody response to pp38 and pp65 (E/C ˃2.0, p˂0.001). Mice immunized with pp38 had significantly higher concentrations of GM-CSF, IFN-α, IL-2 IL-4, IL-5, and IL-17A (p˂0.05). Mice immunized with pp65 showed significantly higher concentrations of GM-CSF, IFN-γ, IL-2 IL-4, IL-10, IL-12, IL-17A, and TNF-α. Th1 to Th2 cytokines ratios revealed a Th1 cytokine bias in mice immunized with pp38, pp65, pp150, and gB. We suggest that stimulation with multiple CMV-related proteins, which include pp38, pp65, and gB antigens, will allow both humoral and cellular immune responses to be efficiently activated, thus serving as appropriate CMV antigens for future vaccines.

Keywords: cytomegalovirus, UL99/pp28, UL80a/pp38, UL83/pp65, UL32/pp150, UL55/gB, CMV-antigen-specific antibody, CMV antigen-specific cytokine responses

Procedia PDF Downloads 83