Search results for: corporate governance

Authors: Pius Agbebi Alaba

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The study emphasized on the effects of contemporary and prospect trends on the development of Hospitality and Tourism in Nigeria. Specifically, the study examined globalization, safety and security, diversity, service, technology, demographic changes and price–value as contemporary trends while prospect trends such as green and Eco-lodgings, Development of mega hotels, Boutique hotels, Intelligent hotels with advanced technology using the guest’s virtual fingerprint in order to perform all the operations, increasing employee salaries in order retain the existing Staff, More emphasis on the internet and technology, Guests’ virtual and physical social network were equally examined. The methodology for the study involved review of existing related study, books, journal and internet. The findings emanated from the exercise showed clearly that the impact of both trends on the development of Hospitality and Tourism in Nigeria would bring about rapid positive transformation of her socio-economic, political and cultural environment. The implication of the study is that it will prepare both private and corporate individuals in hospitality and tourism business for the challenges inherent in both trends.

Keywords: hospitality and tourism, Nigeria's centenary, trends, implications

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Authors: Ananya Rajagopal

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The study is based on an analysis of qualitative data used to analyze the business performance of entrepreneurs in emerging markets based on core variables such as collective leadership in reference to social entrepreneurship and reverse accountability attributes of stakeholders. In-depth interviews were conducted with 25 emerging enterprises within Mexico across five industrial segments. The study has been conducted focusing on five major research questions, which helped in developing the grounded theory related to reverser accountability. The results of the study revealed that the traditional entrepreneurship model based on an individualistic leadership style is being replaced by a collective leadership model. The study focuses on the leadership styles within social enterprises aimed at enhancing managerial capabilities and competencies, stakeholder values, and entrepreneurial growth. The theoretical motivation of this study has been derived from stakeholder theory and agency theory.

Keywords: reverse accountability, social enterprises, collective leadership, grounded theory, social governance

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Authors: Mohammad Abu Nassar, Mahmoud Al Khalilah, Hussein Abu Nassar

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The purpose of this study is to examine whether corporate tax avoidance practices can impact firm value in the Jordanian context. The study employs a quantitative approach using s sample of (124) industrial and services companies listed on the Amman Stock Exchange for the period from 2010 to 2019. Multiple linear regression analysis has been applied to test the study's hypothesis. The study employs effective tax rate and book-tax difference to measure tax avoidance and Tobin's Q factor to measure firm value. The results of the study revealed that tax avoidance practices, when measured using effective tax rates, do not significantly impact firm value. When the book-tax difference is used to measure tax avoidance, the study results showed a negative impact on firm value. The result of the study has not supported the traditional view of tax avoidance as a transfer of wealth from the government to shareholders for industrial and services companies listed on the Amman Stock Exchange, indicating that Jordanian firms should not use tax avoidance strategies to enhance their value.

Keywords: tax avoidance, effective tax rate, book-tax difference, firm value, Amman stock exchange

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Authors: Pongsiri Kamkankaew

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This paper experiments to consider brand equity thought in Thai academic works. This essay employs that the first emerging of brand equity in Thai academic works and the components of brand equity which explore the extent to the convoluted approach with other Thai social condition. In Thailand, brand equity is supposed to provide branding and brand management replacement. However, the commitment of brand equity imposes in its proposal for seemly application in Thai context – to develop the brand equity framework by the Thai social – culture and Thai utilization style which it is questionable whether the brand equity in western conception is useful for characterizing the brand equity in Thailand context. In this position, brand equity also aspects several major questions: How can western conception lead to apply in Thai business? How can diversification be given within Thai SMEs business running? Can corporate brand valuation approach adopt in real business doing? So this paper argues that Thai brand equity notion should reduce disturb over improvement of its self-restraint and business area. Instead, Thai academic who are interested in brand equity can harmonize different mature bodies of discipline and other investigative a frame of references to complete and open the recognizing of brand equity.

Keywords: Thai brand equity, knowledge critical, brand management, branding

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Authors: Larysa Novak-Kalyayeva, Aleksander Kuczabski, Orystlava Sydorchuk, Nataliia Fersman, Tatyana Zemlinskaia

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The article presents the results of the creative analysis and comparison of trends in the development of the theory of public administration during the period from the second half of the 20^th to the beginning of the 21^st century. The process of conceptualization of the priorities of public administration in the dynamics of reforming was held under the influence of such factors as globalization, integration, information and technological changes and human rights is examined. The priorities of the social state in the concepts of the second half of the 20^th century are studied. Peculiar approaches to determining the priorities of public administration in the countries of "Soviet dictatorship" in Central and Eastern Europe in the same period are outlined. Particular attention is paid to the priorities of public administration regarding the interaction between public power and society and the development of conceptual foundations for the modern managerial process. There is a thought that the dynamics of the formation of concepts of the European governance is characterized by the sequence of priorities: from socio-economic and moral-ethical to organizational-procedural and non-hierarchical ones. The priorities of the "welfare state" were focused on the decent level of material wellbeing of population. At the same time, the conception of "minimal state" emphasized priorities of human responsibility for their own fate under the conditions of minimal state protection. Later on, the emphasis was placed on horizontal ties and redistribution of powers and competences of "effective state" with its developed procedures and limits of responsibility at all levels of government and in close cooperation with the civil society. The priorities of the contemporary period are concentrated on human rights in the concepts of "good governance" and all the following ones, which recognize the absolute priority of public administration with compliance, provision and protection of human rights. There is a proved point of view that civilizational changes taking place under the influence of information and technological imperatives also stipulate changes in priorities, redistribution of emphases and update principles of managerial concepts on the basis of publicity, transparency, departure from traditional forms of hierarchy and control in favor of interactivity and inter-sectoral interaction, decentralization and humanization of managerial processes. The necessity to permanently carry out the reorganization, by establishing the interaction between different participants of public power and social relations, to establish a balance between political forces and social interests on the basis of mutual trust and mutual understanding determines changes of social, political, economic and humanitarian paradigms of public administration and their theoretical comprehension. The further studies of theoretical foundations of modern public administration in interdisciplinary discourse in the context of ambiguous consequences of the globalizational and integrational processes of modern European state-building would be advisable. This is especially true during the period of political transformations and economic crises which are the characteristic of the contemporary Europe, especially for democratic transition countries.

Keywords: concepts of public administration, democratic transition countries, human rights, the priorities of public administration, theory of public administration

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Authors: M. N. Naong

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Empirical findings of the impact of training on employee motivation and job satisfaction are reported. One of the major debilitating effects of the legacy of apartheid is a high level of illiteracy in the South African population. Encouraging the corporate sector through levies to promote skills development seems to have been received with mixed feelings. In this regard, the impact of training on the motivation level and job satisfaction of randomly sampled employees of five companies in two South African provinces is reported on. A longitudinal study, with a pre- and post-quasi experimental research design, was adopted to achieve the goal of the study - using a Job Description Index (JDI) measuring instrument to collect data from the respondents. There was a significant correlation between job satisfaction and effectiveness of training transfer - i.e. those employees who received more training were more motivated than those who received less training or no training at all. It is concluded that managers need to appreciate and ensure that the effectiveness of skills transfer is a critical determinant, that must illuminate the underlying challenges of achieving bottom-line targets.

Keywords: employee motivation, skills transfer, moderating effect, job satisfaction, lower-level employees

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Authors: Faten Hatem

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This paper explores the associated understanding of the role and meaning of art and whether it is perceived to be separate from smart city construction. The paper emphasises the significance of fulfilling the inherent need for discovery and interaction, driving people to explore new places and think of works of art. This is done by exploring the ways of thinking and types of art in Milton Keynes by illustrating a general pattern of misunderstanding that relies on the separation between smart, art, and architecture, promoting a better and deeper understanding of the interconnections between neuroscience, art, and architecture. A reflective approach is used to clarify the potential and impact of using art-based research, methodology, and ways of knowing when approaching global phenomena and knowledge production while examining the process of making and developing smart cities, in particular, asserting that factors can severely impact it in the process of conducting the study itself. It follows a case study as a research strategy. The qualitative methods included data collection and analysis that involved interviews and observations that depended on visuals.

Keywords: smart cities, art and smart, smart cities design, smart cities making, sustainability, city brain and smart cities metrics, smart cities standards, smart cities applications, governance, planning and policy

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Authors: Fury Khristianty Fitriyah

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This study aims to identify the extent of the role of the Satuan Pengawas Intern (Internal Audit Unit) in detecting and preventing fraud in public universities in West Java under the Ministry of Research, Technology and Higher Education. The research method applied was a qualitative case study approach, while the unit of analysis for this study is the Internal Audit Unit at each public university. Results of this study indicate that the Internal Audit Unit is able to detect and prevent fraud within a public university environment by means of red flags to mark accounting anomalies. These stem from inaccurate budget planning that prompts inappropriate use of funds, exacerbated by late disbursements of funds, which potentially lead to fictitious transactions, and discrepancies in recording state-owned assets into a state property management system (SIMAK BMN), which, if not conducted properly, potentially causes loss to the state.

Keywords: governance, internal control, fraud, public university

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Authors: Baqir Khawari

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This study has been undertaken to investigate the impact of remittances on household poverty and inequality using OLS and Logit Models with a strictly multi-random sampling method. The result of the OLS model reveals that if the per capita international remittances increase by 1%, then it is estimated that the per capita income will increase by 0.071% and 0.059% during 2019/20 and 2020/21, respectively. In addition, a 1% increase in external remittances results in a 0.0272% and 0.025% reduction in per capita depth of poverty and a 0.0149% and 0.0145% decrease in severity of poverty during 2019/20 and 2020/21, respectively. It is also shown that the effect of external remittances on poverty is greater than internal remittances. In terms of inequality, the result represents that remittances reduced the Gini coefficient by 2% and 7% during 2019/20 and 2020/21, respectively. Further, it is bold that COVID-19 negatively impacts the amount of received remittances by households, thus resulting in a reduction in the size of the effect of remittances. Therefore, a concerted effort of effective policies and governance and international assistance is imperative to address this prolonged problem.

Keywords: migration, remittances, poverty, inequality, COVID-19, Afghanistan

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Authors: Manjinder Singh, Anish Sachdeva

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Research on total quality management (TQM), total productive maintenance (TPM), international organization for standardization (ISO) and six sigma generally investigate the implementation and impact of these programs in isolation. However, none of these quality improvement programs is self-sufficient and they may not be powerful enough to deliver the improvements and innovations that are required nowadays to ensure the survival and growth of a firm. They are not mutually exclusive and inconsistent. On the contrary, they need complementary support and may reinforce mutually to make use of their complementarity, inducement of side-effects in favor of other quality improvement program, mutual simulation and exploitation of shared values. In this paper, first of all, the various management activities were identified which are normally under focus when any quality improvement program is implemented in any organization. Then TOPSIS methodology was applied to establish the ranking of various quality improvement programs (total quality management, total productive maintenance, ISO and six sigma which were brought to the corporate boardroom to improve the quality) with respect to different management activities (operations related activities, quality related activities, maintenance related activities, organizational related activities, human related activities and finance related activities).

Keywords: total productive maintenance (TPM), total quality management (TQM), TOPSIS, international organization for standardization (ISO)

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Authors: Dominik Krimpmann

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Information technology and information systems are currently at a tipping point. The digital age fundamentally transforms a large number of industries in the ways they work. Lines between business and technology blur. Researchers have acknowledged that this is the time in which the IT/IS organisation needs to re-strategise itself. In this paper, the author provides a structured review of the IS and organisation design literature addressing the question of how the digital age changes the design categories of an IT/IS organisation design. The findings show that most papers just analyse single aspects of either IT/IS relevant information or generic organisation design elements but miss a holistic ‘big-picture’ onto an IT/IS organisation design. This paper creates a holistic IT/IS organisation design framework bringing together the IS research strand, the digital strand and the generic organisation design strand. The research identified four IT/IS organisation design categories (strategy, structure, processes and people) and discusses the importance of two additional categories (sourcing and governance). The authors findings point to a first anchor point from which further research needs to be conducted to develop a holistic IT/IS organisation design framework.

Keywords: IT/IS strategy, IT/IS organisation design, digital age, organisational effectiveness, literature review

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Authors: Duygu Dere, Mert Ergeneci, Kaan Gokcesu

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Google Trends data has gained increasing popularity in the applications of behavioral finance, decision science and risk management. Because of Google’s wide range of use, the Trends statistics provide significant information about the investor sentiment and intention, which can be used as decisive factors for corporate and risk management fields. However, an anomaly, a significant increase or decrease, in a certain query cannot be detected by the state of the art applications of computation due to the random baseline noise of the Trends data, which is modelled as an Additive white Gaussian noise (AWGN). Since through time, the baseline noise power shows a gradual change an adaptive thresholding method is required to track and learn the baseline noise for a correct classification. To this end, we introduce an online method to classify meaningful deviations in Google Trends data. Through extensive experiments, we demonstrate that our method can successfully classify various anomalies for plenty of different data.

Keywords: adaptive data processing, behavioral finance , convex optimization, online learning, soft minimum thresholding

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Authors: Chico A. E. Hindarto

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Knowledge management practices are more contextual when they combine with the corporate culture. Each entity has a specific cultural climate that enables knowledge sharing in both functional and individual levels. The interactions between people within organization can be influenced by the culture and how the knowledge is transmitted. On the other hand, these interactions have impacts in culture modification as well. Storytelling is one of the methods in delivering the knowledge throughout the organization. This paper aims to explore the possibility in using a quasi-folklore in the family-based business. Folklore is defined as informal tradition culture that spreading through a word-of-mouth, without knowing the source of the story. In this paper, the quasi-folklore term is used to differentiate it with the original term of folklore. The story is created by somebody in the organization, not like the folklore with unknown source. However, the source is not disclosed, in order to avoid the predicted interest from the story origin. The setting of family-based business is deliberately chosen, since the kinship is considerably strong in this type of entity. Through a thorough literature review that relates to knowledge management, storytelling, and folklore, this paper determines how folklore can be an option for knowledge sharing within the organization.

Keywords: folklore, family business, organizational culture, knowledge management, storytelling

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Authors: Sandiso Mahlala, Fulufhelo Netswera

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Anecdotes of corruption and clear-cut lines of patronage in political parties and the government are frequently featured in South African newspapers and news media. Such graft and favouritism have institutionalised themselves more and more, resulting in the phenomenon of governmental capture and the diversion of Covid-19 relief monies. In order to further their own interests, political elites and those working in the public and private sectors influenced government decisions in this way. This paper presents examples of state capture, Covid-19 corruption, and patronage, as well as how these have a negative impact on broader governance and society at large. The fact that such corruption and patronage are occurring at a time when the South African economy is stagnating is particularly troubling since it implies that more people are getting less and raises concerns about the country's future political stability. This article further examines how party patronage as one method by which political parties exploit the state. The conceptual nature of the study is supported by a survey of the relevant literature from a range of sources, such as government regulations, media excepts, and scholarly works.

Keywords: political corruption, political patronage, patronage, state capture, COVID-19, corruption, South Africa

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Authors: Natàlia Garcia Soler, Timothy Moss

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Despite the multiple benefits of sustainable urban drainage, as demonstrated in numerous case studies across the world, urban rainwater harvesting techniques are generally restricted to isolated model projects. The leap from niche to mainstream has, in most cities, proved an elusive goal. Why policies promoting rainwater harvesting are limited in their widespread implementation has seldom been subjected to systematic analysis. Much of the literature on the policy, planning and institutional contexts of these techniques focus either on their potential benefits or on project design, but very rarely on a critical-constructive analysis of past experiences of implementation. Moreover, the vast majority of these contributions are restricted to single-case studies. There is a dearth of knowledge with respect to, firstly, policy implementation processes and, secondly, multi-case analysis. Insights from both, the authors argue, are essential to inform more effective rainwater harvesting in cities in the future. This paper presents preliminary findings from a research project on rainwater harvesting in cities from a social science perspective that is funded by the Swedish Research Foundation (Formas). This project – UrbanRain – is examining the challenges and opportunities of mainstreaming rainwater harvesting in three European cities. The paper addresses two research questions: firstly, what lessons can be learned on suitable policy incentives and planning instruments for rainwater harvesting from a meta-analysis of the relevant international literature and, secondly, how far these lessons are reflected in a study of past and ongoing rainwater harvesting projects in a European forerunner city. This two-tier approach frames the structure of the paper. We present, first, the results of the literature analysis on policy and planning issues of urban rainwater harvesting. Here, we analyze quantitatively and qualitatively the literature of the past 15 years on this topic in terms of thematic focus, issues addressed and key findings and draw conclusions on research gaps, highlighting the need for more studies on implementation factors, actor interests, institutional adaptation and multi-level governance. In a second step we focus in on the experiences of rainwater harvesting in Berlin and present the results of a mapping exercise on a wide variety of projects implemented there over the last 30 years. Here, we develop a typology to characterize the rainwater harvesting projects in terms of policy issues (what problems and goals are targeted), project design (which kind of solutions are envisaged), project implementation (how and when they were implemented), location (whether they are in new or existing urban developments) and actors (which stakeholders are involved and how), paying particular attention to the shifting institutional framework in Berlin. Mapping and categorizing these projects is based on a combination of document analysis and expert interviews. The paper concludes by synthesizing the findings, identifying how far the goals, governance structures and instruments applied in the Berlin projects studied reflect the findings emerging from the meta-analysis of the international literature on policy and planning issues of rainwater harvesting and what implications these findings have for mainstreaming such techniques in future practice.

Keywords: institutional framework, planning, policy, project implementation, urban rainwater management

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Authors: S. M. Azad, H. Ghodsi Pour, F. Roshannafasa

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In recent years ‘technology management and policymaking’ is one of the most important problems in management science. In this field, different generations of innovation and technology management are presented which the earliest one is Innovation System (IS) approach. In a general classification, innovation systems are divided in to 4 approaches: Technical, sectoral, regional, and national. There are many researches in relation to each of these approaches in different academic fields. Every approach has some benefits. If two or more approaches hybrid, their benefits would be combined. In addition, according to the sectoral structure of the governance model in Iran, in many sectors such as information technology, the combination of three other approaches with sectoral approach is essential. Hence, in this paper, combining two IS approaches (technical and sectoral) and using system dynamics, a generic model is presented for a sample of software industry. As a complimentary point, this article is introducing a new hybrid approach called Techno-Sectoral Innovation System. This TSIS model is accomplished by Changing concepts of the ‘functions’ which came from Technological IS literature and using them into sectoral system as measurable indicators.

Keywords: innovation system, technology, techno-sectoral system, functional indicators, system dynamics

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Authors: Samuel Omachi

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Since the creation of man, conflicts have remained a part and parcel of the society in spite of all measures adopted to keep them away. Conflicts are globally recognized as impediments of sustainable development and therefore regarded as undesirable, yet they are inevitable. However, some political leaders are better managers of conflicts than others. Those that manage conflicts poorly are backward and far from achieving economic development while efficient managers excel. The states in Africa fall into the category of poor managers of conflicts. Consequently, African continent has gained the notoriety of being the most crisis-ridden and poverty-stricken continent in the world in spite of her enormous resource endowment status. This problematic provided the compelling need for the discourse in the present study. Using the documentary analytical method, the paper x-rays the sources of conflicts, their effects and resolutions through peace education to allow room for economic development. The study concluded that African leaders needed to imbibe the culture of good governance with a key plank of peace building as a sine-qua-non for breaking the jinx that has tied the continent down to enable her catch up with her contemporaries in other parts of the competitive world.

Keywords: conflicts, resolutions, peace-building, development

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Authors: Laverne Seales

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When most people think of Panama, they immediately think of the Canal; however, the construction and the people who made it possible are often omitted and seldom acknowledged. The reality is that the construction of this waterway was achieved through forced migration and discriminatory practices toward people of African descent, specifically black people from the Caribbean. From the colonial period to the opening and subsequent operation of the Panama Canal by the United States, this paper goes through the rich layers of Panamanian history to examine the life of Afro-Caribbeans and their descendants in Panama. It also considers the role of the United States in Panama; it explores how the United States in Panama forged a racially complex country that made the integration of Afro-Caribbeans and their descendants difficult. After laying a historical foundation, the exploration of Afro-Caribbean people and Panamanians of Afro-Caribbean descent are analyzed through Afro-Panamanian writer Carlos Guillermo ‘Cubena’ Wilson's novels, short stories, and poetry. This study focuses on how Cubena addresses racism, discrimination, inequality, and social justice issues towards Afro-Caribbeans and their descendants who traveled to Panama to construct the Canal. Content analysis methodology can yield several significant contributions, and analyzing Carlos Guillermo Wilson's literature under this framework allows us to consider social commentary and critique of Panamanian society. It identifies the social issues and concerns of Afro-Caribbeans and people of Afro-Caribbean descent, such as inequality, corruption, racism, political oppression, and cultural identity. Analysis methodology allows us to explore how Cubena's literature engages with questions of cultural identity and belonging in Panamanian society. By examining themes related to race, ethnicity, language, and heritage, this research uncovers the complexities of Panamanian cultural identity, allowing us to interrogate power dynamics and social hierarchies in Panamanian society. Analyzing the portrayal of different social groups, institutions, and power structures helps uncover how power is wielded, contested, and resisted; Cubena's fictional world allows us to see how it functions in Panama. Content analysis methodology also provides for critiquing political systems and governance in Panama. By examining the representation and presentation of political figures, institutions, and events in Cubena's literature, we uncover his commentary on corruption, authoritarianism, governance, and the role of the United States in Panama. Content analysis highlights how Wilson's literature amplifies the voices and experiences of marginalized individuals and communities in Panamanian society. By centering the narratives of Afro-Panamanians and other marginalized groups, this researcher uncovers Cubena's commitment to social justice and inclusion in his writing and helps the reader engage with historical narratives and collective memory in Panama. Overall, analyzing Carlos Guillermo ‘Cubena’ Wilson's literature as a platform for social commentary and critique of Panamanian society using content analysis methodology provides valuable insights into the cultural, social, and political dimensions of Afro-Panamanians during and after the construction of the Panama Canal.

Keywords: Afro-Caribbean, Panama Canal, race, Afro-Panamanian, identity, history

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Authors: Wu Hu

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There is an increasing amount of research bridging the gap between transportation and subjective well-being (SWB). However, travel SWB research in this area is still sporadic. Therefore, we are in need of a more systematic body of work that examines travel SWB considering various work occupations, working conditions, commuting variabilities, and other related variables, and develops updated qualitative and quantitative methods to inform the transportation design. In this Super Mario Guide, the author reflects on the related elements involved with travel SWB under four categories (having Super Mario as the protagonist): 1. the starting point including variables like living conditions; 2. the commuter including the commuter’s age, gender, occupation, and others; 3. the commuting including commuting environment, vehicles, commuting time, commuting vehicles flexibility and variability and others; 4. destination including the workplace conditions, the corporate culture on working flexibility, the employer supportiveness and others. In addition, with the rise of new vehicles such as auto-driving, this research can play a significant role to better understand travel SWB and to guide the design of more efficient travelling systems so as to improve worker performance and general SWB. The author also shares thoughts on promising areas for future research.

Keywords: transportation, subjective well-being (SWB), commuting, happiness

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Authors: I. Inthanongsone, C. Drebenstedt, J. C. Bongaerts, P. Sontamino

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The major concern in evaluating the value of mining projects related to the deficiency of the traditional discounted cash flow (DCF) method. This method does not take uncertainties into account and, hence it does not allow for an economic assessment of managerial flexibility and operational adaptability, which are increasingly determining long-term corporate success. Such an assessment can be performed with the real options valuation (ROV) approach, since it allows for a comparative evaluation of unforeseen uncertainties in a project life cycle. This paper presents an economic evaluation model for open pit mining projects based on real options valuation approach. Uncertainties in the model are caused by metal prices and cost uncertainties and the system dynamics (SD) modeling method is used to structure and solve the real options model. The model is applied to a case study. It can be shown that that managerial flexibility reacting to uncertainties may create additional value to a mining project in comparison to the outcomes of a DCF method. One important insight for management dealing with uncertainty is seen in choosing the optimal time to exercise strategic options.

Keywords: DCF methods, ROV approach, system dynamics modeling methods, uncertainty

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Authors: Bissonnette Jean-François, Dossa Fabrice

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The project focuses on analyzing the spatial and temporal evolution of mangrove forest ecosystems near the city of Douala, Cameroon, in response to increasing human and environmental pressures. The selected study area, located in the Wouri River estuary, has a unique combination of economic importance, and ecological prominence. The study included valuable insights by conducting semi-structured interviews with resource operators and local officials. The thorough analysis of socio-economic data, farmer surveys, and satellite-derived information was carried out utilizing quantitative approaches in Excel and SPSS. Simultaneously, qualitative data was subjected to rigorous classification and correlation with other sources. The use of ArcGIS and CorelDraw facilitated the visual representation of the gradual changes seen in various land cover classifications. The research reveals complex processes that characterize mangrove ecosystems on Manoka and Cape Cameroon Islands. The lack of regulations in urbanization and the continuous growth of infrastructure have led to a significant increase in land conversion, causing negative impacts on natural landscapes and forests. The repeated instances of flooding and coastal erosion have further shaped landscape alterations, fostering the proliferation of water and mudflat areas. The unregulated use of mangrove resources is a significant factor in the degradation of these ecosystems. Activities including the use of wood for smoking and fishing, together with the coastal pollution resulting from the absence of waste collection, have had a significant influence. In addition, forest operators contribute to the degradation of vegetation, hence exacerbating the harmful impact of invasive species on the ecosystem. Strategic interventions are necessary to guarantee the sustainable management of these ecosystems. The proposals include advocating for sustainable wood exploitation techniques, using appropriate techniques, along with regeneration, and enforcing rules to prevent wood overexploitation. By implementing these measures, the ecological balance can be preserved, safeguarding the long-term viability of these precious ecosystems. On a conceptual level, this paper uses the framework developed by Elinor Ostrom and her colleagues to investigate the consequences of open access resources, where local actors have not been able to enforce measures to prevent overexploitation of mangrove wood resources. Governmental authorities have demonstrated limited capacity to enforce sustainable management of wood resources and have not been able to establish effective relationships with local fishing communities and with communities involved in the purchase of wood. As a result, wood resources in the mangrove areas remain largely accessible, while authorities do not monitor wood volumes extracted nor methods of exploitation. There have only been limited and punctual attempts at forest restoration with no significant consequence on mangrove forests dynamics.

Keywords: Mangroves, forest management, governance, open access resources, Cameroon

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Authors: Renata Hrecska

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This research aims to present today's corporate law reforms in the micro, small and medium-sized enterprise sector. The UN Commission on International Trade Law (UNCITRAL) currently deals with emerging issues in the sector in its Working Group I that has specifically focused on possible company law simplifications, including the creation of a fully unique company, the UNCITRAL Limited Liability Organization. However, beyond the work at the UN, the different states has also been focusing on simplification efforts and demands in the sphere of commercial law. We can observe that e.g. Slovakia, Serbia, Poland, Croatia, Hungary, Romania and France are undergoing legal reforms aimed at restructuring the sector through simplification of registration or operation. An important objective of the research is to examine where the boundary is for the legal entity to be more transparent and accountable, while the legislator wants to bring the possibility of establishing a company closer to the citizen. The research material presents the advantages and disadvantages of different initiatives with comparative legal instruments and draws conclusions on the possible future vision. The researcher herself attended some of the meetings of the relevant UNCITRAL working group as a national delegated expert, giving her a personal insight into the UNLLO discourse.

Keywords: commercial law, company formation, MSME, UNCITRAL

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Authors: Reuben Govender, M. L. Woermann

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The ISO 14001 management system standard was first published in 1996. It is a voluntary standard adopted by both private and public sector organizations globally. Adoption of the ISO 14001 standard at the corporate level is done to help manage business impacts on the environment e.g. pollution control. The International Organization for Standardization (ISO) revised the standard in 2004 and recently in 2015. The current revision of the standard appears to adopt a communitarian-type philosophy. The inclusion of requirements to consider external 'interested party' needs and expectations implies this philosophy. Therefore, at operational level businesses implementing ISO 14001 will have to consider needs and expectations beyond local laws. Should these external needs and expectations be included in the scope of the environmental management system, they become requirements to be complied with in much the same way as compliance to laws. The authors assert that the recent changes to ISO 14001 introduce an ethical dimension to the standard. The authors assert that business ethics as a discipline now finds relevance in ISO 14001 via contemporary stakeholder theory and discourse ethics. Finally, the authors postulate implications of (not) addressing these requirements before July 2018 when transition to the revised standard must be complete globally.

Keywords: business ethics, environmental ethics, ethics practice, ISO 14001:2015

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Authors: Luis Castiella, Mariano Rueda, Catalina Palacio

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The world’s rapid urbanisation represents an excellent opportunity to implement initiatives that are oriented towards a country’s general development. However, this phenomenon has created considerable pressure on current urban models, pushing them nearer to a crisis. As a result, several factors usually associated with underdevelopment have been steadily rising. Moreover, actions taken by public authorities have not been able to keep up with the speed of urbanisation, which has impeded them from meeting the demands of society, responding with reactionary policies instead of with coordinated, organised efforts. In contrast, the concept of a Smart City which emerged around two decades ago, in principle, represents a city that utilises innovative technologies to remedy the everyday issues of the citizen, empowering them with the newest available technology and information. This concept has come to adopt a wider meaning, including human and social capital, as well as productivity, economic growth, quality of life, environment and participative governance. These developments have also disrupted the management of institutions such as academia, which have become key in generating scientific advancements that can solve pressing problems, and in forming a specialised class that is able to follow up on these breakthroughs. In this light, the Ministry of Modernisation of the Argentinian Nation has created a model that is rooted in the concept of a ‘Smart City’. This effort considered all the dimensions that are at play in an urban environment, with careful monitoring of each sub-dimensions in order to establish the government’s priorities and improving the effectiveness of its operations. In an attempt to ameliorate the overall efficiency of the country’s economic and social development, these focused initiatives have also encouraged citizen participation and the cooperation of the private sector: replacing short-sighted policies with some that are coherent and organised. This process was developed gradually. The first stage consisted in building the model’s structure; the second, at applying the method created on specific case studies and verifying that the mechanisms used respected the desired technical and social aspects. Finally, the third stage consists in the repetition and subsequent comparison of this experiment in order to measure the effects on the ‘treatment group’ over time. The first trial was conducted on 717 municipalities and evaluated the dimension of Governance. Results showed that levels of governmental maturity varied sharply with relation to size: cities with less than 150.000 people had a strikingly lower level of governmental maturity than cities with more than 150.000 people. With the help of this analysis, some important trends and target population were made apparent, which enabled the public administration to focus its efforts and increase its probability of being successful. It also permitted to cut costs, time, and create a dynamic framework in tune with the population’s demands, improving quality of life with sustained efforts to develop social and economic conditions within the territorial structure.

Keywords: composite index, comprehensive model, smart cities, strategic framework

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Authors: Onur Arugaslan, Ajay Samant, Devrim Yaman

Abstract:

Financial advisors and investors seek new assets which could potentially increase portfolio returns and decrease portfolio risk. Cryptocurrencies represent a relatively new asset class which could serve in both these roles. There has been very little research done in the area of the risk/return tradeoff in a portfolio consisting of fixed income assets, stocks, and cryptocurrency. The objective of this study is a rigorous examination of this issue. The data used in the study are the monthly returns on 4-week US Treasury Bills, S&P Investment Grade Corporate Bond Index, Bitcoin and the S&P 500 Stock Index. The methodology used in the study is the application Modern Portfolio Theory to evaluate the risk-adjusted returns of portfolios with varying combinations of these assets, using Sharpe, Treynor and Jensen Indexes, as well as the Sortino and Modigliani measures. The results of the study would include the ranking of various investment portfolios based on their risk/return characteristics. The conclusions of the study would include objective empirical inference for investors who are interested in including cryptocurrency in their asset portfolios but are unsure of the risk/return implications.

Keywords: financial economics, portfolio diversification, fixed income securities, cryptocurrency, stock indexes

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Authors: Niyi Adegoke, Saanumi Jimmy Omolou

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The prevalence rate of youth involving in cybercrime is alarming, which calls for concern among the government, parents, NGO and religious bodies, hence this paper aims at examining youth involvement in cybercrime in Nigeria. Achievement motivation theory was used to explain the activities of cyber-criminals in Nigerian society. A descriptive survey method was adopted for the study. The sample for the study was one hundred and fifty (150) respondents randomly selected from the population of the study. A questionnaire was used to gather information and data from the respondents. Data collected through the questionnaire were analyzed using percentage tool for the respondents’ bio-data while chi-square was employed to test the hypotheses. Findings from the study have revealed that parental negligence, unemployment, peer influence, and quest for materialism were responsible for cyber-crimes in Nigeria. The study concludes with the following recommendations among which are: creating employment opportunities for the youths and ensure good governance and accountability among other things will go a long way to solve the problem of cybercrime in our society.

Keywords: cybercrime, youth, Nigeria, unemployment, information communication technology

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Authors: Roni Susman, Thomas Weith

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This article explores how institutional setting, mainly from institutionalism, could clearly explain the understanding of land use conflict analysis in coastal areas and has been used in current practices. Institutional setting appears as a guideline that is committed by the stakeholders who are involved directly or indirectly in land management process. This paper is aimed to identify the setting of institutional and to measure how the conflicts occur, how the actors act and influence the process, how is the condition to apply the appropriate framework for adequate solution of land use conflict in coastal area in order to enhance better decisions. To reflect the current practice and use of theories a qualitative review of 150 scientific peer-reviewed papers regarding the issue of land use conflicts in coastal areas as well as institutional process is included. The selection of peer-reviewed papers is obtained through a structured literature survey of the recently published database in a way to investigate the variances of institutional between theory and practices specifically in the case of coastal land management.

Keywords: coastal areas, institutional settings, land use conflict, land governance, actors’ constellation, analytical framework

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Authors: Anneline Chetty

Abstract:

Innovation is not always born in a sterile lab or is not always about applications and technology. Innovative solutions to community challenges can be borne out of the creativity of community members. This was proven by Professor Anil Gupta who for more than two decades scoured rural India for its hidden innovations motivated by the belief that the most powerful ideas for fighting poverty and hardship will not come from corporate research labs, but from ordinary people struggling to survive. The Ethekwini Municipality is a city in South Africa which adopted a similar approach, recognising the innovativeness of youth (students and school pupils) in its area. The intention was to make the youth a part of the solution to challenges faced by the Municipality. In this regard, five areas were selected and five groups of students were identified. Each group was sent into the community to identify challenges and engage with community leaders as well as members. Each group was tasked to come with solutions to these challenges which were to be presented at an Innovation Summit. The presented solutions were judged and the winning solution would be implemented by the Municipality. This paper, documents the experience of the students as well as the kinds of solutions that were presented. The purpose is to highlight the importance of using the ingenious minds and creativity of youth and channel their energy into becoming part of society’s solutions as opposed to being the problem

Keywords: innovation, indigenous, entrepreneurship, community

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Authors: M. Macchiaroli, V. Pellecchia, L. Dolores

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The water supply for production users (craft, commercial, industrial), understood as the set of water supply and wastewater collection services becomes an increasingly felt problem in a water scarcity regime. In fact, disputes are triggered between the different social parties for the fair and efficient use of water resources. Within this aspect, the problem arises of the different pricing of services between civil users and production users. Of particular interest is the question of defining the tariff classes depending on consumption levels. If for civil users, this theme is strongly permeated by social profiles (a topic dealt with by the author in a forthcoming research contribution) connected with the inalienability of the right to have water and with the reconciliation of the needs of the weakest groups of the population, for consumers in the production sector the logic adopted by the manager may be inspired by criteria of greater corporate rationality. This work illustrates the Italian regulatory framework and shows an optimization model of tariff classes in the production sector that reconciles the public objective of sustainable use of the resource and the needs of a production system in search of recovery after the depressing effects caused by COVID-19 pandemic.

Keywords: decision making, economic evaluation, urban water management, water tariff

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Authors: Arnold I. Malag

Abstract:

The study wants to establish the data on the characteristics of coastal solid waste in main Island of Masbate as a model for technology interventions. The research utilized the Google Maps to measure the coastal length and Fishbowl Method for area identification. The solid wastes gathered were classified as residual, non-biodegradable, recyclable wastes, and special wastes, based on the waste analysis and characterization manual of Philippine Environmental Governance Project. The wastes were evaluated by weight in kg., dimension in cm., and characteristics as floating or non-floating. Based on the dimension of coastal solid waste, the biodegradable, recyclable, residual and special waste have the average of 40.95 cm., 16.25 cm., 31.37 cm., and 0.725cm. respectively. The waste in the coastal areas is dominated by biodegradable, followed by residual, then recyclable and special wastes with the data of 0.566 kg/m, 0.533 kg/m, 0.114 kg/m and .0007 kg/m respectively. The 97.15% of solid wastes collected is characterized as “floating”, where in the sources are the nearest rivers and waterways and/or the nearest populated areas adjacent to the island. This accumulation of solid wastes can be minimized and controlled by utilizing a floating equipment.

Keywords: solid waste, coastal waste, waste characterization, waste collector

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