Search results for: financial capacity

Authors: Sevelina Ndlovu

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Financial Technology (fintech) advancement is recognised as one of the most transformational innovations in the financial industry. Fintech has given rise to internet-only digital banking, a novel financial technology advancement, and innovation that allows banking services through internet applications with no need for physical branches. This technology is becoming a new banking normal among consumers for its ubiquitous and real-time access advantages. There is evident switching and migration from traditional banking towards these fintech facilities, which could possibly pose a systemic risk if not properly understood and monitored. Fintech advancement has also brought about the emergence and escalation of financial technology consumption themes such as trust, security, perceived risk, and sustainability within the banking industry, themes scarcely covered in existing theoretic literature. To that end, the objective of this research is to investigate factors that determine fintech adoption and propose an integrated adoption model. This study aims to establish what the significant drivers of adoption are and develop a conceptual model that integrates technological, behavioral, and environmental constructs by extending the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2). It proposes integrating constructs that influence financial consumption themes such as trust, perceived risk, security, financial incentives, micro-investing opportunities, and environmental consciousness to determine the impact of these factors on the adoption and intention to use digital banking apps. The main advantage of this conceptual model is the consolidation of a greater number of predictor variables that can provide a fuller explanation of the consumer's adoption of digital banking Apps. Moderating variables of age, gender, and income are incorporated. To the best of author’s knowledge, this study is the first that extends the UTAUT2 model with this combination of constructs to investigate user’s intention to adopt internet-only digital banking apps in the UK context. By investigating factors that are not included in the existing theories but are highly pertinent to the adoption of internet-only banking services, this research adds to existing knowledge and extends the generalisability of the UTAUT2 in a financial services adoption context. This is something that fills a gap in knowledge, as highlighted to needing further research on UTAUT2 after reviewing the theory in 2016 from its original version of 2003. To achieve the objectives of this study, this research assumes a quantitative research approach to empirically test the hypotheses derived from existing literature and pilot studies to give statistical support to generalise the research findings for further possible applications in theory and practice. This research is explanatory or casual in nature and uses cross-section primary data collected through a survey method. Convenient and purposive sampling using structured self-administered online questionnaires is used for data collection. The proposed model is tested using Structural Equation Modelling (SEM), and the analysis of primary data collected through an online survey is processed using Smart PLS software with a sample size of 386 digital bank users. The results are expected to establish if there are significant relationships between the dependent and independent variables and establish what the most influencing factors are.

Keywords: banking applications, digital banking, financial technology, technology adoption, UTAUT2

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Authors: Femy M. Makkar, S. Chandrakaran, N. Sankar

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The concept of reinforced earth has been used in the field of geotechnical engineering since 1960s, for many applications such as, construction of road and rail embankments, pavements, retaining walls, shallow foundations, soft ground improvement and so on. Conventionally, planar geosynthetic materials such as geotextiles and geogrids were used as the reinforcing elements. Recently, the use of three dimensional reinforcements becomes one of the emerging trends in this field. So, in the present investigation, three dimensional geogrid is proposed as a reinforcing material. Laboratory scaled plate load tests are conducted on a model square footing resting on 3D geogrid reinforced sand bed. The performance of 3D geogrids in triangular and square pattern was compared with conventional geogrids and the improvement in bearing capacity and reduction in settlement and heave are evaluated. When single layer of reinforcement was placed at an optimum depth of 0.25B from the bottom of the footing, the bearing capacity of conventional geogrid reinforced soil improved by 1.85 times compared to unreinforced soil, where as 3D geogrid reinforced soil with triangular pattern and square pattern shows 2.69 and 3.05 times improvement respectively compared to unreinforced soil. Also, 3D geogrids performs better than conventional geogrids in reducing the settlement and heave of sand bed around the model footing.

Keywords: 3D reinforcing elements, bearing capacity, heavy, settlement

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Authors: Mucip Tapan, Ali Ozvan, Ismail Akkaya

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This study investigated how the concrete confinement strength and axial load carrying capacity of reinforced concrete columns are affected by corrosion damage to the stirrups. A total of small-scale 12 test specimens were cast for evaluating the effect of stirrup corrosion on confinement strength of concrete. The results of this study show that the stirrup corrosion alone dramatically decreases the axial load carrying capacity of corroded reinforced concrete columns. Recommendations were presented for improved inspection practices which will allow estimating concrete confinement strength of corrosion-damaged reinforced concrete bridge columns.

Keywords: bridge, column, concrete, corrosion, inspection, stirrup reinforcement

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Authors: Faruk Elaldi

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There are lots of concrete columns and beams around in our living cities. Those columns are mostly open to aggressive environmental conditions and earthquakes. Mostly, they are deteriorated by sand, wind, humidity and other external applications at times. After a while, these beams and columns need to be repaired. Within the scope of this study, for reinforcement of concrete columns, samples were designed and fabricated to be strengthened with carbon fiber reinforced composite materials and conventional concrete encapsulation and followed by, and they were put into the axial compression test to determine load-carrying performance before column failure. In the first stage of this study, concrete column design and mold designs were completed for a certain load-carrying capacity. Later, the columns were exposed to environmental deterioration in order to reduce load-carrying capacity. To reinforce these damaged columns, two methods were applied, “concrete encapsulation” and the other one “wrapping with carbon fiber /epoxy” material. In the second stage of the study, the reinforced columns were applied to the axial compression test and the results obtained were analyzed. Cost and load-carrying performance comparisons were made and it was found that even though the carbon fiber/epoxy reinforced method is more expensive, this method enhances higher load-carrying capacity and reduces the reinforcement processing period.

Keywords: column reinforcement, composite, earth quake, carbon fiber reinforced

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Authors: Özge Alptoğa, Nuray Uçar, Nilgün Karatepe Yavuz, Ayşen Önen

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Sulfur dioxide (SO₂) is a very toxic air pollutant gas and it causes the greenhouse effect, photochemical smog, and acid rain, which threaten human health severely. Thus, the capture of SO₂ gas is very important for the environment. Graphene which is two-dimensional material has excellent mechanical, chemical, thermal properties, and many application areas such as energy storage devices, gas adsorption, sensing devices, and optical electronics. Further, graphene oxide (GO) is examined as a good adsorbent because of its important features such as functional groups (epoxy, carboxyl and hydroxyl) on the surface and layered structure. The SO₂ adsorption properties of the fibers are usually investigated on carbon fibers. In this study, potential adsorption capacity of GO fibers was researched. GO dispersion was first obtained with Hummers’ method from graphite, and then GO fibers were obtained via wet spinning process. These fibers were converted into a disc shape, dried, and then subjected to SO₂ gas adsorption test. The SO₂ gas adsorption capacity of GO fiber discs was investigated in the fields of utilization of different coagulation baths and reduction by hydrazine hydrate. As coagulation baths, single and triple baths were used. In single bath, only ethanol and CaCl₂ (calcium chloride) salt were added. In triple bath, each bath has a different concentration of water/ethanol and CaCl₂ salt, and the disc obtained from triple bath has been called as reference disk. The fibers which were produced with single bath were flexible and rough, and the analyses show that they had higher SO₂ adsorption capacity than triple bath fibers (reference disk). However, the reduction process did not increase the adsorption capacity, because the SEM images showed that the layers and uniform structure in the fiber form were damaged, and reduction decreased the functional groups which SO₂ will be attached. Scanning Electron Microscopy (SEM), Fourier Transform Infrared Spectroscopy (FTIR), X-Ray Diffraction (XRD) analyzes were performed on the fibers and discs, and the effects on the results were interpreted. In the future applications of the study, it is aimed that subjects such as pH and additives will be examined.

Keywords: coagulation bath, graphene oxide fiber, reduction, SO2 gas adsorption

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Authors: M. Jahanandish, M. B. Zeydabadinejad

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In this paper, von Mises and Drucker-Prager yield criteria, as typical ones that consider the effect of intermediate principal stress σ2, have been selected and employed for investigating the influence of σ2 on the solution of a typical stability problem. The bearing capacity factors have been calculated under plane strain condition (strip footing) and axisymmetric condition (circular footing) using the method of stress characteristics together with the criteria mentioned. Different levels of σ2 relative to the other two principal stresses have been considered. While a higher σ2 entry in yield criterion gives a higher bearing capacity; its entry in equilibrium equations (axisymmetric) causes substantial reduction.

Keywords: intermediate principal stress, plane strain, axisymmetric, yield criteria

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Authors: Ernest Tambo, Ghislaine Madjou, Jeanne Y. Ngogang, Shenglan Tang, Zhou XiaoNong

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Implementing national to community-based 'One Health' surveillance approach for human, animal and environmental consequences mitigation offers great opportunities and value-added in sustainable development and wellbeing. 'One Health' surveillance approach global partnerships, policy commitment and financial investment are much needed in addressing the evolving threats and epidemics crises mitigation in African countries. The paper provides insights onto how China-Africa health development cooperation in promoting “One Health” surveillance approach in response advocacy and mitigation. China-Africa health development initiatives provide new prospects in guiding and moving forward appropriate and evidence-based advocacy and mitigation management approaches and strategies in attaining Universal Health Coverage (UHC) and Sustainable Development Goals (SDGs). Early and continuous quality and timely surveillance data collection and coordinated information sharing practices in malaria and other diseases are demonstrated in Comoros, Zanzibar, Ghana and Cameroon. Improvements of variety of access to contextual sources and network of data sharing platforms are needed in guiding evidence-based and tailored detection and response to unusual hazardous events. Moreover, understanding threats and diseases trends, frontline or point of care response delivery is crucial to promote integrated and sustainable targeted local, national “One Health” surveillance and response approach needs implementation. Importantly, operational guidelines are vital in increasing coherent financing and national workforce capacity development mechanisms. Strengthening participatory partnerships, collaboration and monitoring strategies in achieving global health agenda effectiveness in Africa. At the same enhancing surveillance data information streams reporting and dissemination usefulness in informing policies decisions, health systems programming and financial mobilization and prioritized allocation pre, during and post threats and epidemics crises programs strengths and weaknesses. Thus, capitalizing on “One Health” surveillance and response approach advocacy and mitigation implementation is timely in consolidating Africa Union 2063 agenda and Africa renaissance capabilities and expectations.

Keywords: Africa, one health approach, surveillance, response

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Authors: Lidia Sanchis-Marco, Antonio Rubia

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In this paper we analyze the state-dependent risk-spillover in different economic areas. To this end, we apply the quantile regression-based methodology developed in Adams, Füss and Gropp approach to examine the spillover in conditional tails of daily returns of indices of the banking industry in the US, BRICs, Peripheral EMU, Core EMU, Scandinavia, the UK and Emerging Markets. This methodology allow us to characterize size, direction and strength of financial contagion in a network of bilateral exposures to address cross-border vulnerabilities under different states of the economy. The general evidence shows as the spillover effects are higher and more significant in volatile periods than in tranquil ones. There is evidence of tail spillovers of which much is attributable to a spillover from the US on the rest of the analyzed regions, specially on European countries. In sharp contrast, the US banking system show more financial resilience against foreign shocks.

Keywords: spillover effects, Bank Contagion, SDSVaR, expected shortfall, VaR, expectiles

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Authors: Pi Hsia Liang

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The rise of Facebook, Twitter, and other social networks significantly changes in interconnections between people, enhancing the process of information dissemination and amplify the influence of that information. Therefore, to develop informational efficiency or signaling equilibrium type of information environment among social networks, without adverse selection effects, becomes an important issue. Thus, someone may post a piece of intentional information in relation to personal interest for trying to create marginal influence. Therefore, economists are seeking to establish theories of informational efficiency under social network environment in order to resolve adverse selection issues. Reputation could be one of the important factors in the process of creating informational efficiency. Additionally, investors how to process green information, or information of corporate social responsibility is a very important study. This study essentially employs experimental study for examining how investors use stock relevant green information in Facebook and various Taiwan local networks. Facebook, and blogs of Money DJ, Technews and cnYES, respectively, are the primary sites for this examination that also allow to differentiate effects between Facebook and other local social networks. Questionnaire is developed for such an experimental testing. Note that questionnaire allows this study to group, for example, decision frequency and length of time duration focusing on social networks that are used for discriminating investor type and competence of informed investor. This study selects 500 investors that can be separated into two respective 250 samples as the control group and 250 samples in such an experimental. The quantity of sample investor sufficiently results in statistic significance of this experimental study. The empirical results of this study can be used for explaining how financial information in relation to corporate social responsibility would be disseminated in social websites. Therefore, we can lead to better interpretation of price/earnings relationship type of study and empirical studies of green information usefulness or informational efficiency Note that the above mentioned empirical studies did not exist any social network and annual report of corporate social responsibility. This study expects to find the results that both network degree and network cluster significantly affected green information dissemination frequency. In other words, investors with more connections and with high clustered connections might exert a greater influence on their green information dissemination process. The preferred users of financial social networks could make better stock decision that could amplify effects of green information. In addition, Facebook would be more influential than other local Taiwan financial social networks, although Facebook is not a specialized financial social network. In other words, the popularity and reputation effects of Facebook significantly contribute to usefulness of green information and influence of green information. Third, it has a better chance to find rumor or cheating information in local Taiwan financial social networks than Facebook. In other words, Facebook possesses reputation effect, or a better informational efficiency. Or, even though Taiwan local financial social networks have marginal informational effects on stock price, because of shortage of informational efficiency or monitoring system, information could be a tool for those whom owning superior information.

Keywords: network effect on financial services, informational efficiency theory, social networks, social websites

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Authors: Hassidou Saidou, Soulé Aminou

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As in many towns of African countries, the waste management, in particularly solid constitutes a major problem for the municipal authorities of Maradi. The aim of this study is to make a diagnosis of the present system of waste management in the town of Maradi. The approach was consisted to some interviews with the municipal authorities, cleaning up and health technicians and some housewives investigations. According to the health technicians of the town, the causes due to the problem of waste management in Maradi town are: collecting capacity insufficient, lack of effective sensitization of people, undeveloped and uncontrolled rubbish dumps, lack of gutter and its maintenance, and insufficient and unqualified human resources. As to the authorities, they denounce always the attitude and the behavior of citizens on the waste issue. The waste evacuation is doing by municipal collecting or by depositing in wild rubbish dump. Some people eliminate their waste by burning or duping in the streets or in their houses. According to our investigations, 52% of population evacuates their waste daily. The satisfaction rate of municipal collecting is for 32%. The analysis showed that the present system of waste management in Maradi town is failing. As solutions, we proposed to equip the technical offices with appropriated material and financial means, reinforce the involved actor’s capacities and making in application the operatives regulations for the waste management.

Keywords: maradi, municipal authorities, Niger Republic, solid waste management

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Authors: Abdelmounaim Lahrech, Hajar Bousfiha

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This paper examines equity market integration between Morocco and France and its consequent implications on international portfolio diversification. In the absence of stock market linkages, Morocco can act as a diversification destination to European investors, allowing higher returns at a comparable level of risk in developed markets. In contrast, this attractiveness is limited if both financial markets show significant linkage. The research empirically measures financial market’s integration in by capturing the conditional correlation between the two markets using the Generalized Autoregressive Conditionally Heteroscedastic (GARCH) model. Then, the research uses the Dynamic Conditional Correlation (DCC) model of Engle (2002) to track the correlations. The research findings show that there is no important increase over the years in the correlation between the Moroccan and the French equity markets, even though France is considered Morocco’s first trading partner. Failing to prove evidence of the stock index linkage between the two countries, the volatility series of each market were assumed to change over time separately. Yet, the study reveals that despite the important historical and economic linkages between Morocco and France, there is no evidence that equity markets follow. The small correlations and their stationarity over time show that over the 10 years studied, correlations were fluctuating around a stable mean with no significant change at their level. Different explanations can be attributed to the absence of market linkage between the two equity markets.

Keywords: equity market linkage, DCC GARCH, international portfolio diversification, Morocco, France

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Authors: Rajeshwari Balasubramanian, Margit Van Wessel, Nandini Deo

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The participation of women in local bodies witnessed a rise after the implementation of 73rd and 74th Amendments to the Indian Constitution which created quotas for women representatives. However, even when participation increased, it did not translate into meaningful contributions by women in local bodies. This led some civil society organisations (CSOs) to begin working with women panchayat representatives in various states to build their capacity for political participation. The focus of this paper is to study capacity building training by CSOs in Jharkhand. The paper maps how the training helps women elected representatives to negotiate their autonomy at multiple levels. The paper describes the capacity building program conducted by an international feminist organisation along with its seven local partners in Jharkhand. The central question that the study asks is: How does capacity building training by CSOs in Jharkhand impact the autonomy of elected women representatives? It uses a qualitative research methodology based on empirical data gathered through field visits in four districts of Jharkhand (Chatra, Hazaribagh, East Singhbum and Ranchi) where the program was implemented for three years. The study found that women elected representatives had to develop strategies to negotiate their choice to move out of their homes and attend the training conducted by CSOs. The ability to participate in the training programs itself was a significant achievement of personal autonomy for many women. The training provided them a platform to voice their opinion and appreciate their own value as panchayat leaders. This realization allowed them to negotiate their presence and a space for themselves in Gram panchayats. A Foucauldian approach to analyze capacity building workshops might lead us to see them as systems in which CSOs impose a form of governmentality on rural elected representatives. Instead, what we see here is a much more complex negotiation of agency in which the CSO creates spaces and practices that allow women to achieve their own forms of autonomy. The study concludes that the impact of the training on the autonomy of these women is based on their everyday negotiations of time, space and mobility. Autonomy for these elected women representatives is also contextual and relative, as they seem to realize it during the training process. The training allows the women to not only negotiate their participation in panchayats but also challenge everyday practices that are rooted in patriarchy.

Keywords: autonomy, feminist organization, local bodies, political participation

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Authors: Xiaojun Wang

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In a lucky emerging market, most Sino commercial banks has developed rapidly and achieved dazzling performance in recent years. As a large sound commercial bank with long history, Wells Fargo Company(WFC) is taken as a mirror in this paper in order to roughly find out the relevance on life circle of the Sino banks in comparison with WFC. Two financial measures return on equity(ROE) and overall labor productivity(OLP), three commercial banks the Hong Kong and Shanghai Banking Corporation Limited(HSBC), the Bank of Communication(BCM) and China Minsheng Bank(CMSB) are selected. The comparison data coming from historical annual reports of each company vary from 13 years to 51 years. Several conclusions from the results indicate that most Sino commercial banks would be continually developing with lower financial measures performance for later several decades.

Keywords: commercial bank, features comparison, labor productivity, return on equity

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Authors: Cholpassorn Sitthiwarongchai, Chutikarn Sriviboon

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The two primary objectives of this research were (1) to examine the current knowledge and actual circumstance of agricultural workers about mangosteen product processing; and (2) to analyze and evaluate ways to develop capacity of mangosteen product processing. The population of this study was 15,125 people who work in the agricultural sector, in this context, mangosteen production, in the eastern part of Thailand that included Chantaburi Province, Rayong Province, Trad Province and Pracheenburi Province. The sample size based on Yamane’s calculation with 95% reliability was therefore 392 samples. Mixed method was employed included questionnaire and focus group discussion with Connoisseurship Model used in order to collect quantitative and qualitative data. Key informants were used in the focus group including agricultural business owners, academic people in agro food processing, local academics, local community development staff, OTOP subcommittee, and representatives of agro processing industry professional organizations. The study found that the majority of the respondents agreed with a high level (in five-rating scale) towards most of variables of knowledge management in agro food processing. The result of the current knowledge and actual circumstance of agricultural human resource in an arena of mangosteen product processing revealed that mostly, the respondents agreed at a high level to establish 7 variables. The guideline to developing the body of knowledge in order to enhance the capacity of the agricultural workers in mangosteen product processing was delivered in the focus group discussion. The discussion finally contributed to an idea to produce manuals for mangosteen product processing methods, with 4 products chosen: (1) mangosteen soap, (2) mangosteen juice, (3) mangosteen toffee, and (4) mangosteen preserves or jam.

Keywords: capacity enhancement, agricultural workers, mangosteen product processing, marketing management

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Authors: Hesham Hamdy Abdelmohsen, Ahmed Shawky Abdul Azizb, Mona Fawzy Aldaghma

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Helical piles have earned considerable attention as an effective deep foundation alternative due to their rapid installation process and their dual purpose in compression and tension. These piles find common uses as foundations for structures like solar panels, wind turbines, offshore platforms, and some kinds of retaining walls. These structures usually transfer different combinations of loads to their helical-pile foundations in the form of axial and lateral loads. Extensive research has been conducted to investigate and understand the behavior of these piles under the influence of either axial or lateral loads. However, the impacts of loading patterns that may act on the helical piles as combinations of axial compression and lateral loads still need more efforts of research work. This paper presents the results of an experimental (Lab tests) and numerical (PLAXIS-3D) study performed on vertical helical-pile groups under the action of combined loads as axial compression (bearing loads), acting successively with lateral (horizontal) loads. The study aims to clarify the effects of key factors, like helix location and direction of lateral load, on the lateral capacity of helical-pile groups and, consequently, on group efficiency. Besides the variation of helix location and lateral load direction, three patterns of successive bearing combined loads were considered, in which the axial vertical compression load was either zero, V1 or V2, whereas the lateral horizontal loads were varied under each vertical compression load. The study concluded that the lateral capacity of the helical-pile group is significantly affected by helix location within the length of the pile shaft. The optimal lateral performance is achieved with helices at a depth ratio of H/L = 0.4. Furthermore, groups of rectangular plan distribution exhibit greater lateral capacity if subjected to lateral horizontal load in the direction of its long axis. Additionally, the research emphasizes that the presence of vertical compression loading can enhance the lateral capacity of the group. This enhancement depends on the value of the vertical compression load, lateral load direction, and helix location, which highlights the complex interaction effect of these factors on the efficiency of helical-pile groups.

Keywords: helical piles, experimental, numerical, lateral loading, group efficiency

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Authors: Joseph Levodo, Andy Ford, ISSA Chaer

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Africa enjoys some of the best solar radiation levels in the world averaging between 4-6 kWh/m2/day for most of the year and the global economic and political conditions that tend to make African countries more dependent on their own energy resources have caused growing interest in wanting renewable energy based technologies. However to-date, implementation of Modern Energy Technologies in Africa is still very low especially the use of solar conversion technologies. It was initially speculated that the low uptake of solar technology in Africa was associated with the continent’s high poverty levels and limitations in technical capacity as well as awareness. Nonetheless, this is not an academic based speculation and the exact reasons for this low trend in technology adoption are unclear and require further investigation. This paper presents literature review and analysis relating to the techno-economic feasibility of solar photovoltaic power generation in Africa. The literature review would include the following four main categories: design methods, techno-economic feasibility of solar photovoltaic power generation, performance evaluations of various systems, Then it looks at the role of policy and potential future of technological development of photovoltaic (PV) by exploring the impact of alternative policy instruments and technology cost reductions on the financial viability of investing solar photovoltaic (PV) in Africa.

Keywords: Africa Solar Potential, policy, photovoltaic, technologies

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Authors: Mustafa Gülen, Eylem Güzel, Soner Guler

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The concrete filled steel tube (CFST) columns are commonly used in construction applications such as high-rise buildings and bridges owing to its lots of remarkable benefits. The use of concrete filled steel tube columns provides large areas by reduction in cross-sectional area of columns. The main aim of this study is to examine the axial load capacities of circular high strength concrete filled steel tube columns according to Eurocode 4 (EC4) and Chinese Code (DL/T). The results showed that the predictions of EC4 and Chinese Code DL/T are unsafe for all specimens.

Keywords: concrete-filled steel tube column, axial load capacity, Chinese code, Australian Standard

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Authors: George Oliveira, Luana D. Fronza, Luiza Medeiros, Patricia D. M. Plentz

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The research presented in this article is part of a wide project that proposes a scheduling system for multi-robots in intelligent warehouses employing multi-robot path-planning (MPP) and multi-robot task allocation (MRTA) to reconcile multiple restrictions (task delivery time, task priorities, charging capacity, and robots battery capacity). We present the software component capable of interconnecting an open streaming processing architecture and robot operating system (ROS), ensuring communication and message exchange between robots and the environment in which they are inserted. Simulation results show the good performance of our proposed technique for connecting ROS and streaming platforms.

Keywords: complex distributed systems, mobile robots, smart warehouses, streaming platforms

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Authors: Taiwo Frances Gbadegesin

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Children’s capacity to contribute to social and economic status of a nation has been given more recognition than ever. Global policy priority aimed at ensuring sustainable development has been extended to the developing nations of the world. However, many developing countries have continued to puzzle out the extent and possibilities of exploring sustainability within their socio-economic environment. This paper considers ways in which the theoretical framework of Dahlberg, Moss and Pence (1999; 2007) and Moss (2007; 2012) that embraces meaning-making, social construction of childhood experiences and democratic perspectives can be used to understand children’s capacity for building a sustainable future. This paper presents data collected through interviews and observations from ECCE teachers and children in Lagos, Nigeria. A distinct finding is that children’s participation in building sustainable future is a consequence of the knowledge of the workings of their social, economic and cultural nuances and not a matter of economic wealth per se. It further argues that sustainability is situated within a complex network of local and global contexts. It thus challenges the present neo-liberal approach and advocates a democratic approach to preparing children for a sustainable society. It concludes that sustainability cannot be built on what may be seen as decontextualized responses by relevant stakeholders to the needs and experiences of the “whole child”.

Keywords: children, ECCE, sustainable development, Nigeria

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Authors: Lin Ji

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The 1923 HSBC Building is one of the landmarks of Shanghai's Bund complex and is described as "one of the finest buildings from the Suez Canal to the Bering Strait". Mr George Leopold Wilson of Palmer&Turner and his design team combine the latest British design taste with Chinese elements and bring the high standard of London manufacturing to Shanghai. This paper reviews the establishment background and construction process of the Hongkong and Shanghai Bank Corporation in Shanghai, and analyzes the characteristics of various styles and ornament of HSBC. At the same time, using the research method of iconography, compared with Britain's exploration of modern design mode in the early 20th century, we can deeply understand how this "monument of world commerce and prosperity" realizes the identity construction of its financial empire in the Far East in the perfect combination of practicality and artistry.

Keywords: early 20-century Shanghai, the bund, the HSBC building, classical styles, ornament, identity construction

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Authors: Kathy Mwende Kiema, Remember Samu, Murat Fahrioglu

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The potential of power generation from solar resources has been established as being robust in sub Saharan Africa. Consequently many governments in the region have encouraged the exploitation of this resource through, inter alia direct funding, subsidies and legislation (such as feed in tariffs). Through a case study of Kenya and Zimbabwe it is illustrated that a good deal of proposed grid connected solar power projects and related feed in tariffs have failed to take into account key economic and technical considerations in the selection of solar technologies to be implemented. This paper therefore presents a comparison between concentrated solar power (CSP) and solar photovoltaic (PV) to assess which technology is better suited to meet the energy demand for a given set of prevailing conditions. The evaluation criteria employed is levelized cost of electricity (LCOE), net present value (NPV) and plant capacity factor. The outcome is therefore a guide to aid policy makers and project developers in choosing between CSP and PV given certain solar irradiance values, planned nominal plant capacity, availability of water resource and a consideration of whether or not the power plant is intended to compete with existing technologies, primarily fossil fuel powered, in meeting the peak load.load.

Keywords: capacity factor, peak load, solar PV, solar CSP

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

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

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

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Authors: Viney Dixit, Rohit R. Shahi, Ashish Bhatnagar, P. Jain, T. P. Yadav, O. N. Srivastava

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Carbons are being widely investigated as hydrogen storage material owing to their light weight, fast hydrogen absorption kinetics and low cost. However, these materials suffer from low hydrogen storage capacity at room temperature. The aim of the present study is to synthesize carbon based material which shows moderate hydrogen storage at room temperature. For this purpose, hydrogenation characteristics of natural precursor coconut kernel is studied in this work. The hydrogen storage measurement reveals that the as-synthesized materials have good hydrogen adsorption and desorption capacity with fast kinetics. The synthesized material absorbs 8 wt.% of hydrogen at liquid nitrogen temperature and 2.3 wt.% at room temperature. This could be due to the presence of certain elements (KCl, Mg, Ca) which are confirmed by TEM.

Keywords: coconut kernel, carbonization, hydrogenation, KCl, Mg, Ca

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Authors: Tomola Obamuyi

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

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

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Authors: T. Miková

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

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

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Authors: Ivana Tadic, Snjezana Pivac

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

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

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Authors: Nusrat T. Chowdhury, M. F. Baki, A. Azab

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The production planning problem is concerned with specifying the optimal quantities to produce in order to meet the demand for a prespecified planning horizon with the least possible expenditure. Making the right decisions in production planning will affect directly the performance and productivity of a manufacturing firm, which is important for its ability to compete in the market. Therefore, developing and improving solution procedures for production planning problems is very significant. In this paper, we develop a Dantzig-Wolfe decomposition of a multi-item hierarchical production planning problem with capacity constraint and present a column generation approach to solve the problem. The original Mixed Integer Linear Programming model of the problem is decomposed item by item into a master problem and a number of subproblems. The capacity constraint is considered as the linking constraint between the master problem and the subproblems. The subproblems are solved using the dynamic programming approach. We also propose a multi-step iterative capacity allocation heuristic procedure to handle any kind of infeasibility that arises while solving the problem. We compare the computational performance of the developed solution approach against the state-of-the-art heuristic procedure available in the literature. The results show that the proposed heuristic-based decomposition approach improves the solution quality by 20% as compared to the literature.

Keywords: inventory, multi-level capacitated lot-sizing, emission control, setup carryover

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Authors: Usman A. Usman

Abstract:

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

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

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Authors: Cristian Păuna

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In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonomous trading software is today a considerable part in the business intelligence system of any modern financial activity. The trading decisions and orders are made automatically by computers using different mathematical models. This paper will present one of these models called Price Prediction Line. A mathematical algorithm will be revealed to build a reliable trend line, which is the base for limit conditions and automated investment signals, the core for a computerized investment system. The paper will guide how to apply these tools to generate entry and exit investment signals, limit conditions to build a mathematical filter for the investment opportunities, and the methodology to integrate all of these in automated investment software. The paper will also present trading results obtained for the leading German financial market index with the presented methods to analyze and to compare different automated investment algorithms. It was found that a specific mathematical algorithm can be optimized and integrated into an automated trading system with good and sustained results for the leading German Market. Investment results will be compared in order to qualify the presented model. In conclusion, a 1:6.12 risk was obtained to reward ratio applying the trigonometric method to the DAX Deutscher Aktienindex on 24 months investment. These results are superior to those obtained with other similar models as this paper reveal. The general idea sustained by this paper is that the Price Prediction Line model presented is a reliable capital investment methodology that can be successfully applied to build an automated investment system with excellent results.

Keywords: algorithmic trading, automated trading systems, high-frequency trading, DAX Deutscher Aktienindex

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Authors: Ichiro Mukai

Abstract:

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

Keywords: accruals, earnings quality, IFRS, information comparability

Procedia PDF Downloads 173