Search results for: financial behavior

Authors: Stefan Bauer, Josef Frysak

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According to the scientific information management literature, the improper use of information technology (e.g. personal computers) by employees are one main cause for operational and information security loss events. Therefore, organizations implement information security awareness programs to increase employees’ awareness to further prevention of loss events. However, in many cases these information security awareness programs consist of conventional delivery methods like posters, leaflets, or internal messages to make employees aware of information security policies. We assume that a viral information security awareness video might be more effective medium than conventional methods commonly used by organizations. The purpose of this research is to develop a viral video artifact to improve employee security behavior concerning information technology.

Keywords: information security awareness, delivery methods, viral videos, employee security behavior

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Authors: Pooja Sharma, Renu Jain, Alka David

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The primary goal of this research is to comprehend the many features of visual merchandising (VM) and impulsive or instant purchasing behavior. It aims to explain the link between visual merchandising and customer purchasing behavior. The reviews were compiled from research articles, professional journal articles, and the opinions of many authors. It also discusses the impact of different internal and external VM elements on instant purchasing. The visual merchandising elements are divided into two sections: interior element (inside the display, spaces, and layout, fixtures, mannequins, attention-grabbing device) and outside element (outside display, space, and layout, fixture, mannequins, attention-grabbing device) (Window Display, Exterior signs, Marquees, Entrance, color, and texture). By focusing on selected clothing stores from the four markets of Bhopal city, we discovered that the exterior elements (window display, color, and texture) and interior elements (mannequins like dummies and fixtures such as lighting) have a significant positive impact on instant buying among the elements of Visual merchandising.

Keywords: instant purchase, visual merchandising, instant buying behavior, consumer behavior, window display, fixtures, mannequins, marquees

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Authors: Umamaheswara Rao Jada, Susmita Mukhopadhyay

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In the present highly complex, dynamic and interdependent organizational environment, employees' ideas, opinions and suggestions which is technically referred to as ‘constructive employee voice’ is increasingly being recognized and valued. Literature has consistently demonstrated the relevance of leadership in employee voicing behavior, however the new form of leadership, ‘empowering leadership’ has not been given much attention. The study, therefore, devotes itself to the effort to explore the impact of this new form of leadership on employee voice behavior and the interplay with leader member exchange (LMX) and psychological safety as mediators in the same. The study utilizes structural equation modeling for analyzing the data collected from 310 Indian service industry employees through the questionnaire developed for the study. The findings of the study demonstrate the significant impact of empowering form of leadership on employees’ constructive voice behavior. Additionally, supporting results were observed for the mediating impact of leader member exchange (LMX) and psychological safety between empowering leadership and employees’ constructive voice behavior. The results of this study provide insights into the intervening mechanisms by linking leaders’ empowering behavior with employees’ constructive voice, while also highlighting the potential importance of LMX relationship in organizations and psychological safety in the context of constructive voice behavior. The study brings forth the relevance of the new form of leadership, ‘empowering leadership’ for fostering the better exchange of ideas, opinions, and suggestions between leaders and followers which tend to benefit the organization, providing empirical evidence of the sequential mediation of LMX and psychological safety. The piece of work is assumed to benefit the leaders in organizations by providing them the basis for adopting empowering form of leadership in light of results displayed.

Keywords: constructive voice, empowering leadership, leader member exchange (LMX), psychological safety, sequential mediation, structural equation modeling

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Authors: Long Pham, Julia Blanke

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An increasingly popular way of establishing citizen engagement within communities is through ‘city apps’. Currently, most of these mobile applications seem to be extensions of the existing communication media, sometimes merely replicating the information available on the classical city web sites, and therefore provide minimal additional impact on citizen behavior and engagement. In order to overcome this challenge, we propose to use a holistic behavioral model to generate dynamic and contextualized app content based on optimizing well defined city-related performance goals constrained by the proposed behavioral model. In this paper, we will show how the data collected by the CorkCitiEngage project in the Irish city of Cork can be utilized to calibrate aspects of the proposed model enabling the design of a personalized citizen engagement app aiming at positively influencing people’s behavior towards more active participation in their communities. We will focus on the important aspect of intentions to act, which is essential for understanding the reasons behind the common value-action-gap being responsible for the mismatch between good intentions and actual observable behavior, and will discuss how customized app design can be based on a rigorous model of behavior optimized towards maximizing well defined city-related performance goals.

Keywords: city apps, holistic behaviour model, intention to act, value-action-gap, citizen engagement

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Authors: Ajayi Oluwasola Felix

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This paper examines how firm investments in technology-based employee monitoring impact both misconduct and productivity. We use unique and detailed theft and sales data from 392 restaurant locations from five firms that adopt a theft monitoring information technology (IT) product. We use difference-in-differences (DD) models with staggered adoption dates to estimate the treatment effect of IT monitoring on theft and productivity. We find significant treatment effects in reduced theft and improved productivity that appear to be primarily driven by changed worker behavior rather than worker turnover. We examine four mechanisms that may drive this productivity result: economic and cognitive multitasking, fairness-based motivation, and perceived increases of general oversight. The observed productivity results represent substantial financial benefits to both firms and the legitimate tip-based earnings of workers. Our results suggest that employee misconduct is not solely a function of individual differences in ethics or morality, but can also be influenced by managerial policies that can benefit both firms and employees.

Keywords: information technology, monitoring, misconduct, employee theft

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Authors: Sathwik Sarvadevabhatla Kasyap, Kostas Senetakis

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The mechanical behavior of geological materials is very complex, and this complexity is related to the discrete nature of soils and rocks. Characteristics of a material at the grain scale such as particle size and shape, surface roughness and morphology, and particle contact interface are critical to evaluate and better understand the behavior of discrete materials. This study investigates experimentally the micro-mechanical behavior of quartz sand grains with emphasis on the influence of the presence of microparticles in their contact region. The outputs of the study provide some fundamental insights on the contact mechanics behavior of artificially coated grains and can provide useful input parameters in the discrete element modeling (DEM) of soils. In nature, the contact interfaces between real soil grains are commonly observed with microparticles. This is usually the case of sand-silt and sand-clay mixtures, where the finer particles may create a coating on the surface of the coarser grains, altering in this way the micro-, and thus the macro-scale response of geological materials. In this study, the micro-mechanical behavior of Leighton Buzzard Sand (LBS) quartz grains, with interference of different microparticles at their contact interfaces is studied in the laboratory using an advanced custom-built inter-particle loading apparatus. Special techniques were adopted to develop the coating on the surfaces of the quartz sand grains so that to establish repeatability of the coating technique. The characterization of the microstructure of coated particles on their surfaces was based on element composition analyses, microscopic images, surface roughness measurements, and single particle crushing strength tests. The mechanical responses such as normal and tangential load – displacement behavior, tangential stiffness behavior, and normal contact behavior under cyclic loading were studied. The behavior of coated LBS particles is compared among different classes of them and with pure LBS (i.e. surface cleaned to remove any microparticles). The damage on the surface of the particles was analyzed using microscopic images. Extended displacements in both normal and tangential directions were observed for coated LBS particles due to the plastic nature of the coating material and this varied with the variation of the amount of coating. The tangential displacement required to reach steady state was delayed due to the presence of microparticles in the contact region of grains under shearing. Increased tangential loads and coefficient of friction were observed for the coated grains in comparison to the uncoated quartz grains.

Keywords: contact interface, microparticles, micro-mechanical behavior, quartz sand

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Authors: Jerah Mystica B. Novenario, Flor A. Ceballo-Alcantara

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Sweetpotato is grown in tropical countries for its edible tubers, which became an important source of food. It is usually propagated through vine cutting which may be obtained from harvested plants or from nurseries intended for cutting production only. The recurrent use of vines may cause increased weevil infestation. The crop is known to be infested with insect pests, more importantly, the sweetpotato weevil, Cylasformicarius, which targets the tubers and thus cause economic losses. Sweetpotato farmers in Tarlac claim that only one sweetpotato cultivar is being attacked by C. formicarius. However, in was found in this experiment that feeding and feeding behavior of the weevil were not affected by the cultivar provided; such that no significant differences were observed on the average amount of tuber consumed by both male (F=0.86; df=2; P=0.45) and female (F=2.71; df=2; P=0.11) and feeding time (F=0.9; df=2; P=0.43). Conversely, in terms of damage assessment, significantly different (F=1.64; df=2; P=0.23) results were noted.

Keywords: cylas formicarius, feeding behavior, insect pest, sweetpotato

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Authors: Hassan Medaghri Alaoui

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The accounting and financial reporting system in use today is over 500 years old and has failed to capture the new knowledge and innovation economy in which intangible assets are becoming increasingly valuable. Yet, there has been a growing acknowledgment among the research community as to the relevance of intellectual capital as a major enhancer of an organization’s well-being. Much of the research provides great support for how the IC is instrumental in determining financial and stock performances. As far as we know, this article is one of the earliest exploratory attempts to examine the intellectual capital impact on the corporate performance of the IT sector in Morocco. The purpose of this study is to verify empirically the influence of intellectual capital on firm performance. We have undertaken, over a fifteen-year period, a longitudinal (2005–2019) case study of a prominent payment-solutions company based in a developing economy with global operations.

Keywords: intellectual capital, IT sector, measuring intellectual capital, modified value added intellectual capital coefficient, Morocco

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Authors: Shreya Mishra, Manosi Chaudhuri, Ajoy K. Dey

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Workplace bullying is a social phenomenon which has proved to be hazardous not only for employees’ well-being but also organizations. Despite being prevalent across geographical boundaries, Indian organizations have failed to acknowledge its vices. This paper aims to understand targets’ perception on what makes bullying nurture in organizations. The paper suggests that person-led Indian work settings give birth to bullying behavior as it lacks professional acumen and systems. An analysis of 13 in-depth interviews of employees from the organized sector suggests that organizations, where decision making lies with single individual, may be a hub of hostile behavior due to the culture which promotes ‘yesmanship’, ‘authoritarianism’ and/or blind belief of leaders on certain set of employees. The study used constructivist grounded theory approach, and the data was analyzed using R Based Qualitative Data Analysis (RQDA) software. Respondents reported that bullying behavior is taken lightly by the management with 'just ignore it' attitude. According to the respondents, the behavior prolong as the perpetrator have a direct approach to the top authority. The study concludes that person-led organizations may create a family-like environment which is favored by employees; however, authoritative leaders are unable to gain the trust of employees. Also, employees who are close to the leader may either be a perpetrator or a target of bullying. It is recommended that leaders in such organizations need to acknowledge the presence of bullying which affects an employees’ commitment towards their job and/or organization. They need to have an assertive check on individuals who hide behind ‘yesman’ attitude. This may help employees feel safe in such work settings.

Keywords: constructivist grounded theory, person-led organization, RQDA, workplace bullying

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Authors: Theddeus Tochukwu Akano, Omotayo Abayomi Fakinlede

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Proper understanding of the behavior of compliant mechanisms use by athletes is important in order to avoid catastrophic failure. Such compliant mechanisms like the flex-run require the knowledge of their dynamic response and deformation behavior under quickly varying loads. The modeling of finite deformations of the compliant athletic system is described by Neo-Hookean model under contact-impact conditions. The dynamic impact-contact governing equations for both the target and impactor are derived based on the updated Lagrangian approach. A method where contactor and target are considered as a united body is applied in the formulation of the principle of virtual work for the bodies. In this paper, methods of continuum mechanics and nonlinear finite element method were deployed to develop a model that could capture the behavior of the compliant athletic system under quickly varying loads. A hybrid system of symbolic algebra (AceGEN) and a compiled back end (AceFEM) were employed, leveraging both ease of use and computational efficiency. The simulated results reveal the effect of the various contact-impact conditions on the deformation behavior of the impacting compliant mechanism.

Keywords: eigenvalue problems, finite element method, robin boundary condition, sturm-liouville problem

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Authors: David Gottlieb, Jason Yoder

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The feeling of loneliness is not uncommon in modern society, and yet, there is a fundamental lack of understanding in its origins and purpose in nature. One interpretation of loneliness is that it is a subjective experience that punishes a lack of social behavior, and thus its emergence in human evolution is seemingly tied to the survival of early human tribes. Still, a common counterintuitive response to loneliness is a state of hypervigilance, resulting in social withdrawal, which may appear maladaptive to modern society. So far, no computational model of loneliness’ effect during evolution yet exists; however, agent-based models (ABM) can be used to investigate social behavior, and applying evolution to agents’ behaviors can demonstrate selective advantages for particular behaviors. We propose an ABM where each agent contains four social behaviors, and one goal-seeking behavior, letting evolution select the best behavioral patterns for resource allocation. In our paper, we use an algorithm similar to the boid model to guide the behavior of agents, but expand the set of rules that govern their behavior. While we use cohesion, separation, and alignment for simple social movement, our expanded model adds goal-oriented behavior, which is inspired by particle swarm optimization, such that agents move relative to their personal best position. Since agents are given the ability to form connections by interacting with each other, our final behavior guides agent movement toward its social connections. Finally, we introduce a mechanism to represent a state of loneliness, which engages when an agent's perceived social involvement does not meet its expected social involvement. This enables us to investigate a minimal model of loneliness, and using evolution we attempt to elucidate its value in human survival. Agents are placed in an environment in which they must acquire resources, as their fitness is based on the total resource collected. With these rules in place, we are able to run evolution under various conditions, including resource-rich environments, and when disease is present. Our simulations indicate that there is strong selection pressure for social behavior under circumstances where there is a clear discrepancy between initial resource locations, and against social behavior when disease is present, mirroring hypervigilance. This not only provides an explanation for the emergence of loneliness, but also reflects the diversity of response to loneliness in the real world. In addition, there is evidence of a richness of social behavior when loneliness was present. By introducing just two resource locations, we observed a divergence in social motivation after agents became lonely, where one agent learned to move to the other, who was in a better resource position. The results and ongoing work from this project show that it is possible to glean insight into the evolutionary advantages of even simple mechanisms of loneliness. The model we developed has produced unexpected results and has led to more questions, such as the impact loneliness would have at a larger scale, or the effect of creating a set of rules governing interaction beyond adjacency.

Keywords: agent-based, behavior, evolution, loneliness, social

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Authors: M. Sai Veerendra

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Today, money laundering (ML) poses a serious threat not only to financial institutions but also to the nation. This criminal activity is becoming more and more sophisticated and seems to have moved from the cliché of drug trafficking to financing terrorism and surely not forgetting personal gain. Most of the financial institutions internationally have been implementing anti-money laundering solutions (AML) to fight investment fraud activities. However, traditional investigative techniques consume numerous man-hours. Recently, data mining approaches have been developed and are considered as well-suited techniques for detecting ML activities. Within the scope of a collaboration project on developing a new data mining solution for AML Units in an international investment bank in Ireland, we survey recent data mining approaches for AML. In this paper, we present not only these approaches but also give an overview on the important factors in building data mining solutions for AML activities.

Keywords: data mining, clustering, money laundering, anti-money laundering solutions

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Authors: Marko Čular

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The aim of this paper is to raise general awareness of transparency importance for audit firms and for audit services’ users. This paper analyses transparency of audit firms that audited financial statements of listed companies, for year 2011 and 2012. We use this two years because in the meantime Code of Ethics for Professional Accountants has been adopted. This paper investigates whether transparency reports of audit firms are in accordance with the Croatian Audit Act and whether there is a difference on transparency in observed years. For this paper, quality index of transparency report and financial indicators of audit firms are used to get conclusion about condition of audit firms transparency reporting. Results of our study indicate that audit firms are not fully transparent, looking for both years. Transparency of audit firms in 2012 has improved significantly, compared with transparency in 2011.

Keywords: transparency report, index quality of transparency report, Croatian audit act, code of ethics for professional accountants

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Authors: El Metmati Abdelhaq

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Shear strength of sandy soils has been considered as the important parameter to study the stability of different civil engineering structures when subjected to monotonic, cyclic and earthquake loading conditions. The objective of this laboratory investigation is to study the influence of the fraction of low plastic fines and gradation on the mechanical behavior of sand-silt mixtures reconstituted in the laboratory. For this purpose, a series of Casagrande shear box tests were carried out on different reconstituted samples of sand-silt mixtures with various gradations at two initial relative densities (Dr = 20 and 91 %) with different fines content ranging from 0 to 40 %. The soil samples were tested under different normal stresses (100, 200 and 300 kPa). The evaluation of the data indicates that the fines content and the gradation have significant influence on the friction angle and the cohesion.

Keywords: mechanical behavior, silty sand, friction angle, cohesion, fines content

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Authors: Jin Huang

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Research shows that asset-building policies have positive financial and non-financial impacts on children and families. To promote the development of asset-building policies for children in China, it is important to understand the current status of family savings for children. We use the data from the 2016 China Family Panel Studies and show only 16% of families have savings designated for children’s future education. Families with advantaged socioeconomic backgrounds are more likely to save and also save more for their children than their counterparts with disadvantaged backgrounds. Without large-scale and progressive policy interventions, families with disadvantaged backgrounds are less likely to build assets for children. Policy and practice implications for family social workers are discussed.

Keywords: assets, asset building, child, china, education, family, savings

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Authors: Junki Min, Heeyoung Lee, Wonseok Chung

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Traditional marine concrete structures are difficult to construct and may cause environmental pollution. This study presents new concrete bridge system in the marine. The main feature of the proposed bridge is that precast girders and precast coping are applied to facilitate assembly and to improve constructability. In addition, the moment of the girder is reduced by continuation the joint. In this study, a full-scale joint specimen with a span of 7.0 m was fabricated and tested to evaluate the composite behavior of the joint. A finite element model was also developed and compared against the experimental results. All members of the test specimen behaved stably up to the design load. It was found that the precast joint of the proposed bridge showed the composite behavior efficiently before the failure.

Keywords: finite element analysis, full-scale test, coping, joint performance, marine structure, precast

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Authors: Abderrahmane Soufi

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The building sector is the largest consumer of energy in France, accounting for 44% of French consumption. To reduce energy consumption and improve energy efficiency, France implemented an energy transition law targeting 40% energy savings by 2030 in the tertiary building sector. Building simulation tools are used to predict the energy performance of buildings but the reliability of these tools is hampered by discrepancies between the real and simulated energy performance of a building. This performance gap lies in the simplified assumptions of certain factors, such as the behavior of occupants on air conditioning and heating, which is considered deterministic when setting a fixed operating schedule and a fixed interior comfort temperature. However, the behavior of occupants on air conditioning and heating is stochastic, diverse, and complex because it can be affected by many factors. Probabilistic models are an alternative to deterministic models. These models are usually derived from statistical data and express occupant behavior by assuming a probabilistic relationship to one or more variables. In the literature, logistic regression has been used to model the behavior of occupants with regard to heating and air conditioning systems by considering univariate logistic models in residential buildings; however, few studies have developed multivariate models for higher education and vocational training buildings in a Mediterranean climate. Therefore, in this study, occupant behavior on heating and air conditioning systems was modeled using logistic regression. Occupant behavior related to the turn-on heating and air conditioning systems was studied through experimental measurements collected over a period of one year (June 2023–June 2024) in three classrooms occupied by several groups of students in engineering schools and professional training. Instrumentation was provided to collect indoor temperature and indoor relative humidity in 10-min intervals. Furthermore, the state of the heating/air conditioning system (off or on) and the set point were determined. The outdoor air temperature, relative humidity, and wind speed were collected as weather data. The number of occupants, age, and sex were also considered. Logistic regression was used for modeling an occupant turning on the heating and air conditioning systems. The results yielded a proposed model that can be used in building simulation tools to predict the energy performance of teaching buildings. Based on the first months (summer and early autumn) of the investigations, the results illustrate that the occupant behavior of the air conditioning systems is affected by the indoor relative humidity and temperature in June, July, and August and by the indoor relative humidity, temperature, and number of occupants in September and October. Occupant behavior was analyzed monthly, and univariate and multivariate models were developed.

Keywords: occupant behavior, logistic regression, behavior model, mediterranean climate, air conditioning, heating

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Authors: Ehsan Sadie

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The use of steel braces in concrete structures has been considered by researchers in recent decades due to its easy implementation, economics and the ability to create skylights in braced openings compared to shear wall openings as well as strengthening weak concrete structures to earthquakes. The purpose of this article is to improve and strengthen concrete structures with steel bracing. In addition, cases such as different numbers of steel braces in different openings of concrete structures and interaction between concrete frames and metal braces have been studied. In this paper, by performing static nonlinear analysis and examining ductility, the relative displacement of floors, examining the performance of samples, and determining the coefficient of behavior of composite frames (concrete frames with metal bracing), the behavior of reinforced concrete frames is compared with frame without bracing. The results of analyzes and studies show that the addition of metal bracing increases the strength and stiffness of the frame and reduces the ductility and lateral displacement of the structure. In general, the behavior of the structure against earthquakes will be improved.

Keywords: behavior coefficient, bracing, concrete structure, convergent bracing, earthquake, linear static analysis, nonlinear analysis, pushover curve

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Authors: Marijana Ivanov, Roman Šubić

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The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, represent important steps towards completing the Economic and Monetary Union. It should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim that a former practice of the bail-out is replaced with the bail-in system through which bank failures will be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. It has to reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities, and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the single interbank money market. However, contrary to all the positive expectations related to the future functioning of the banking union, low and unbalanced economic growth rates remain a challenge for the maintenance of financial stability in the euro area, and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times, and large banks are still a matter of concern because of their systemic importance for individual countries and the euro zone as a whole. The creation of the SSM and the SRM should increase transparency of the banking system in the euro area and restore confidence that have been disturbed during the depression. It would provide a new opportunity to strengthen economic and financial systems in the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented to the large and significant banks (whereby one half of them operate in the core and most important euro area countries), while it is questionable to what extent the common resolution funds will be used for rescue of less important institutions.

Keywords: banking union, financial integration, single supervision mechanism (SSM)

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Authors: Hien T. T. Ho, Tsunemi Watanabe

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The regulatory and market pressures on the restriction of nonylphenol and its ethoxylates in textile articles have confronted the textile manufacturers, particularly those in developing countries. This study aimed to examine the tentative behavior of the textile manufacturers in Vietnam from the perspectives of attitude and the perceptions of technical and organizational adaptabilities, risks, benefits, and barriers. Personal interviews were conducted with five technical specialists from four textile firms and one chemical supplier. The environmental regulatory and market situations regarding the chemical use in Vietnam were also described. The findings revealed two main opposing trends of chemical substitution depending on the market orientation of firms that governed the patterns of risk and benefit perception. The indirect influence of perceived adaptabilities on firm tentative behavior through perceived risks was elucidated, which initiated a conceptual model of firm’s behavior combining the organizational-based and the rational-based relationships. The intermediary role of non-governmental textile and garment industrial/ trade associations is highlighted to strengthen private firm’s informative capacity.

Keywords: firm behavior, institutional analysis, organizational adaptation, technical adaptation

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Authors: Elizabeth Snyman-Van Deventer

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Numerous corporate scandals, which included investment scams, corporate malfeasance, unethical conduct and conflicts of interest, contributed to the collapse of WorldCom, Global Crossing, Xerox, Tyco, Enron, Sprint, AbbVie and Imclone and led to alarmed investors abandoning public securities markets and the tumbling of U.S stock markets. These companies suffered significant financial losses due to substantial and fraudulent misstatements and other illegal, corrupt or unethical practices. Executives were convicted of fraud and sentenced to prison. The corporate financial scandals, governance failures, and the ensuing public outcries led to mandatory legislation, e.g. the Sarbanes-Oxley Act in the USA. In European corporate scandals such as Parmalat, Royal Dutch Ahold, Vivendi, Adecco and Elan, the boards missed financial misrepresentations. In South Africa, Steinhoff is the most well-known example of corporate collapse, but now we can also add Tongaat Hulett. It seems as if fraud and corruption may be the major sources of these corporate collapses. In most instances, there is either the active involvement of the directors and managers in these fraudulent or corrupt practices, or there is a negligent or even intentional failure to act by directors to prevent these activities. However, besides directors and managers, auditors and lawyers failed in most of these companies to fulfil their professional duties. In most of these major collapses, the ethics of especially auditors and directors could be questioned. This paper will first provide a brief overview of corporate collapses. Secondly, the reasons for these collapses, with a focus on unethical conduct, will be discussed.

Keywords: professional duties, corporate collapses, ethical conduct, legal ethics, directors, auditors

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Authors: Imen Latrous

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Family firm is the most common form of business organization in the world. Many family businesses rely heavily on their own capital to finance their expansion. This dependence on internal funds for their investment may be deliberate to maintain the family dominant position or involuntary as family firms have limited access to external funds. Our understanding of family firm’s choice to fund their own growth using existing capital is somewhat limited. The aim of this paper is to study whether the presence of a controlling family in the company either mitigates or exacerbates external financing constraints. The impact of family ownership on investment–cash flow sensitivity is ultimately an empirical question. We use a sample of 406 Canadian firms listed in Toronto Stock exchange (TSX) over the period 2005–2014 in order to explore this relationship. We distinguish between three elements in the definition of family firms, specifically ownership, control and management, to explore the issue whether family firms are more efficient organisational form. Our research contributes to the extant literature on family ownership in several ways. First, as our understanding of family firm’s investment cash flow sensitivity is somewhat limited in recession times, we explore the effect of family firms on the relation between investment and cash flow during the recent 2007-2009 financial crisis. We also analyse this relationship difference between family firms and non family firms before and during financial crisis. Finally, our paper addresses the endogeneity problem of family ownership and investment-cash flow sensitivity.

Keywords: family firms, investment–cash flow sensitivity, financial crisis, corporate governance

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Authors: Zidane Abderrezaq

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This paper’s primary objective is to identify the relative importance of various Islamic financial products, in theory and in practice, by examining the financing records of the Bank Islam Malaysia (Berhad) and the Algeria Islamic Bank. Currently, seven available Islamic financing products are considered viable alternatives to interest-based conventional contracts: mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (welfare loan), bay` bi al-thaman al-ajil (deferred payment financing), and istisna` (progressive payments). Among these financial products, mudarabah and musharakah are the most distinct. Their unique characteristics (at least in theory) make Islamic banks and Islamic financing viable alternatives to the conventional interest-based financial system. The question before us is to determine the extent of mudarabah and musharakah in Islamic financing in practice. The data are as follows: the average mudarabah is 5% of total financing, and the average musharakah is less than 3%. The combined average of mudarabah and musharakah for the two Islamic banks is less than 4% of the total finance and advances. The average qard al-hassan is about 4%, while istisna` does not yet exist in practice. Murabahah is the most popular and dominates all other modes of Islamic financing. The average use of murabahah is over 54%. When the bay` bi al-thaman al-ajil is added to the murabahah, the percentage of total financing is shown to be 82.68%. This paper also explores some possible reasons why these two Islamic banks appear to prefer murabahah to mudarabah and musharakah.

Keywords: Islamic banking, Islamic finance, Islamic banking rofitability, investment banking

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Authors: Arista Mayang Sari Slamet

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This study was conducted to see the shape or behavior that shows the attitude of confidence in the practice of debate on science program students in Senior High School. This research is a descriptive qualitative study by explaining the forms of behavior of each indicator (there are ten indicators) confidence of Santrock. Data collection using interviews with Indonesian language teachers, direct observation, and documents. In this study, it was found that there is one item that is not visible indicator of the high school students of class X, which is the fourth item ‘Sitting with others in social activities’. This is caused by the forum examined are debating forum, so there is a social activity can’t be seen. The result of this study there are two students who do not show the behavior of confidence, their name is Dea and Audria (from the pro team). This indicates that the head of a pro team dominated the debate. The time for the debate is 45 minutes. Therefore all students in both of team can’t demonstrate their debate skill. In each team is only dominated by one student. The most common forms of confidence behavior are expressing opinion, look at the other person (speaker), and keeping eye contact with the other person. This indicates that the attitude of confidence by looking at the other person makes them more confident about their opinion. The most uncommon indicators is to direct or instruct to the other person. This shows that the attitude of self-confidence shown by the students isn’t lead.

Keywords: confidence, debate, senior high school, Jakarta

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Authors: Seok Hong Min, Tae Kwon Ha

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High-temperature deformation behavior of ferritic stainless steels such as STS 409L, STS 430J1L, and STS 429EM has been investigated in this study. Specimens with fully annealed microstructure were obtained by heat treatment. A series of load relaxation tests has been conducted on these samples at temperatures ranging from 200 to 900oC to construct flow curves in the strain rate range from 10-6 s-1 to 10-3 s-1. Strain hardening was not observed at high temperatures above 800oC in any stainless steels. Load relaxation behavior at the temperature was closely related with high-temperature mechanical properties such as the thermal fatigue and tensile behaviors. Load drop ratio of 436L stainless steel was much higher than that of the other steels. With increasing temperature, strength and load drop ratio of ferritic stainless steels showed entirely different trends.

Keywords: ferritic stainless steel, high temperature deformation, load relaxation, microstructure, strain rate sensitivity

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Authors: Mamiza Haq

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This paper examines the relevance of bank capital and charter value on bank insolvency and liquidity risks. Using an unbalanced panel of 2,111 unique local banks across 22 countries over 1998-2012, we find that both bank capital and charter value lower insolvency and liquidity risks, but this effect varies among conventional, Islamic, and Islamic-window banks. The risk constraining effect of bank capital becomes more prominent in the post 2007-2008 global financial crisis. Moreover, the relationships vary when conditioned upon other key bank-specific characteristics. For instance, the effect of capital on risk-reduction diminishes in the presence of high charter value for conventional-G7 and Islamic-window banks, during-GFC and pre-GFC period; respectively. Our findings have important policy implications related to bank safety. The results are robust to a range of robustness tests.

Keywords: bank capital, charter value, risk, financial crisis

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Authors: Thee Chowwanonthapunya, Junhua Dong, Wei Ke

Abstract:

The atmospheres in many cities along the coastal lines in the world have been rapidly changed to coastal-industrial atmosphere. Hence, it is vital to investigate the corrosion behavior of steel exposed to this kind of environment. In this present study, Electrochemical Impedance Spectrography (EIS) and film thickness measurements were applied to monitor the corrosion behavior of weathering steel covered with a thin layer of the electrolyte in a wet-dry cyclic condition, simulating a coastal-industrial environment at 25 oC and 60 % RH. The results indicate that in all cycles, the corrosion rate increases during the drying process due to an increase in anion concentration and an acceleration of oxygen diffusion enhanced by the effect of the thinning out of the electrolyte. During the wet-dry cyclic corrosion test, the long-term corrosion behavior of this steel depends on the periods of exposure. Corrosion process is first accelerated and then decelerated. The decelerating corrosion process is contributed to the formation of the protective rust, favored by the wet-dry cycle and the acid regeneration process during the rusting process.

Keywords: atmospheric corrosion, EIS, low alloy, rust

Procedia PDF Downloads 435

Authors: J. M. Lee, W. R. Noh, C. Y. Kim, M. G. Lee

Abstract:

Delamination of oxide scale has been often discovered at the interface between Fe carbon steel and oxide scale. Among several mechanisms of this delamination behavior, the normal tensile stress to the substrate-scale interface has been described as one of the main factors. The stress distribution at the interface is also known to be affected by thermal expansion mismatch between substrate and oxide scale, creep behavior during cooling and the geometry of the interface. In this study, stress states near the interface in a Fe carbon steel with oxide scale have been investigated using FE simulations. The thermal and mechanical properties of oxide scales are indicated in literature and Fe carbon steel is measured using tensile testing machine. In particular, the normal and shear stress components developed at the interface during bending are investigated. Preliminary numerical sensitivity analyses are provided to explain the effects of the interface geometry and oxide thickness on the delamination behavior.

Keywords: oxide scale, delamination, Fe analysis, roughness, thickness, stress state

Procedia PDF Downloads 332

Authors: Antonio Aguilar Aguilar, Eliezer Braun Guitler

Abstract:

Using a previously developed procedure and with the aid of algebraic software, a two-dimensional generalized Ising model with a 4×2 unitary cell (UC), we obtain a Kagome Lattice with twelve different spin-spin values of interaction, in order to determine the partition function per spin L(T). From the partition function we can study the magnetic behavior of the system. Because of the competition phenomenon between spins, a very complex behavior among them in a variety of magnetic states can be observed.

Keywords: correlations, Ising, Kagome, exact functions

Procedia PDF Downloads 355

Authors: Howard Gomwe, Eunice Seekoe, Philemon Lyoka, Chioneso Show Marange, Dennyford Mafa

Abstract:

Background: This study was designed to assess PA levels and sedentary behavior among primary school learners in the Eastern Cape province of South Africa. Methods: A cross-sectional study was adopted to assess the patterns and levels of PA and sedentary behavior using the Physical Activity Questionnaire for Older Children (PAQ-C). Results: Using complete case analysis, 870 randomly selected participants (boys = 351 and girls = 519) aged 9 to 14 years were retained. The sample comprised of primary school learners, both boys and girls; aged 9-14 years old, who were randomly selected from rural, urban and peri-urban areas in the Eastern Cape Province of South Africa. Overly, the sample had a mean PAQ-C score of 2.33 ± 0.43. The mean of PA in boys was significantly higher (p = 0.003) in comparison with the girls. The 13 to 14 age group had a significantly higher PA level (p = 0.014). Learners from urban areas (n = 136; 77.3%) engaged more in sedentary behaviour as compared to those from rural areas (n = 252; 54.9%). Conclusion: The findings demonstrated low levels of PA and high engagement of sedentary behavior, which have negative implications on the health, growth and development of children. The study, therefore, recommends relevant stakeholders to implement interventions aimed to promote the increase in PA and reduction in sedentary behaviors for primary school learners in the Eastern Cape province in South Africa.

Keywords: learners, physical activity, sedentary behavior, south Africa

Procedia PDF Downloads 199