Search results for: investment portfolio

Authors: Abdessalam Hijab, Hafida Boulekbache, Eric Henry

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According to several research studies, the city as a whole is a complex, spatially organized system; its modeling must take into account several factors, socio-economic, and political, or geographical, acting at multiple scales of observation according to varied temporalities. Sustainable management and protection of the environment in this complex system require significant human and technical investment, particularly for monitoring and maintenance. The objective of this paper is to propose an intelligent approach based on the coupling of Geographic Information System (GIS) and Information and Communications Technology (ICT) tools in order to integrate the inhabitants in the processes of sustainable management and protection of the urban environment, specifically in the processes of household waste collection in urban areas. We are discussing a collaborative 'city/inhabitant' space. Indeed, it is a geo-collaborative approach, based on the spatialization and real-time geo-localization of topological and multimedia data taken by the 'active' inhabitant, in the form of geo-localized alerts related to household waste issues in their city. Our proposal provides a good understanding of the extent to which civil society (inhabitants) can help and contribute to the development of complementary solutions for the collection of household waste and the protection of the urban environment. Moreover, it allows the inhabitant to contribute to the enrichment of a data bank for future uses. Our geo-collaborative model will be tested in the Lamkansa sampling district of the city of Casablanca in Morocco.

Keywords: geographic information system, GIS, information and communications technology, ICT, geo-collaboration, inhabitants, city

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Authors: Nina Leila Mussa

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Background: The devastating effects of the war on Syria’s educational infrastructure has been widely reported, with millions of children denied access. However, among those who resettled in Lebanon, the impact of receiving educational assistance on their abilities to pass the English entrance exam is not well described. The aim of this study was to identify predictors of success among Syrian refugees receiving English language courses in a Lebanese university. Methods: The database of Syrian refugee girls matriculated in English courses at the American University of Beirut (AUB) was reviewed. The study period was 7/2018-09/2020. Variables compared included: family size and income, welfare status, parents’ education, English proficiency, access to the internet, and need for external help with homework. Results: For the study period, there were 28 girls enrolled. The average family size was 6 (range 4-9), with eight having completed primary, 14 secondary education, and 6 graduated high school. Eighteen were single-income families. After 12 weeks of English courses, 16 passed the Test of English as Foreign Language (TOEFL) from the first attempt, and 12 failed. Out of the 12, 8 received external help, and 6 passed on the second attempt, which brings the total number of successful passing to 22. Conclusion: Despite the tragedy of war, girls receiving assistance in learning English in Lebanon are able to pass the basic language test. Investment in enhancing those educational experiences will be determinantal in achieving widespread progress among those at-risk children.

Keywords: refugee girls, TOEFL, education, success

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Authors: Anar Koli

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After the Paris agreement in 2015, a comprehensive initiative both from the developed and developing countries towards the adaptation to climate change is emerging. The Global Environmental Facility (GEF), which is financing a global portfolio of adaptation projects and programs in over 124 countries is playing a significant role to a new financing framework that included the concept of “climate-resilient development”. However, both the adaptation and sustainable development paradigms remain continuously contested, especially the role of the multilateral institutions with their technical and financial assistance to the developing world. Focusing on the adaptation initiatives of the GEF, this study aims to understand to what extent the global multilateral institutions, particularly the GEF is contributing to the climate-resilient development. From the political ecology perspective, the argument of this study is that the global financial framework is highly politicized, and understanding the contribution of the global institutions of the global climate change needs to be related both from the response and causal perspectives. A holistic perspective, which includes the contribution of the GEF as a response to the climate change and as well the cause of global climate change, are needed to understand the broader environment- political economic relation. The study intends to make a critical analysis of the way in which the political economy structure and the environment are related along with the social and ecological implications. It does not provide a narrow description of institutional responses to climate change, rather it looks at how the global institutions are influencing the relationship of the global ecologies and economies. This study thus developed a framework combining the global governance and the political economy perspective. This framework includes environment-society relation, environment-political economy linkage, global institutions as the orchestra, and division between the North and the South. Through the analysis of the GEF as the orchestra of the global governance, this study helps to understand how GEF is coordinating the interactions between the North and the South and responding the global climate resilient development. Through the other components of the framework, the study explains how the role of the global institutions is related to the cause of the human induced global climate change. The study employs a case study based on both the quantitative and qualitative data. Along with the GEF reports and data sets, this study draws from an eclectic range of literature from a range of disciplines to explain the broader relation of the environment and political economy. Based on a case study on GEF, the study found that the GEF has positive contributions in bringing developing countries’ capacity in terms of sustainable development goal, local institutional development. However, through a critical holistic analysis, this study found that this contribution to the resilient development helps the developing countries to conform the fossil fuel based capitalist political economy. The global governance institution is contributing both to the pro market based environment society relation and, to the consequences of this relation.

Keywords: climate change adaptation, global environmental facility (GEF), political economy, the north -south relation

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Authors: Timothy E. Frank, Josh R. Aldred, Sophie B. Boulware, Michelle K. Cabonce, Justin H. White

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Materials degrade at different rates in different environments depending on factors such as temperature, aridity, salinity, and solar radiation. Therefore, predicting asset longevity depends, in part, on the environmental conditions to which the asset is exposed. Heating, ventilation, and air conditioning (HVAC) systems are critical to building operations yet are responsible for a significant proportion of their energy consumption. HVAC energy use increases substantially with slight operational inefficiencies. Understanding the environmental influences on HVAC degradation in detail will inform maintenance schedules and capital investment, reduce energy use, and increase lifecycle management efficiency. HVAC inspection records spanning 14 years from 21 locations across the United States were compiled and associated with the climate conditions to which they were exposed. Three environmental features were explored in this study: average high temperature, average low temperature, and annual precipitation, as well as four non-environmental features. Initial insights showed no correlations between individual features and the rate of HVAC component degradation. Using neighborhood component analysis, however, the most critical features related to degradation were identified. Two models were considered, and results varied between them. However, longitude and latitude emerged as potentially the best predictors of average HVAC component degradation. Further research is needed to evaluate additional environmental features, increase the resolution of the environmental data, and develop more robust models to achieve more conclusive results.

Keywords: climate, degradation, HVAC, neighborhood component analysis

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Authors: Euphrasia Susy Suhendra, Lies Handrijaningsih

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The banking sector as an intermediary party or intermediaries occupies a very important position in bridging the needs of working capital investment in the real sector with funds owner. This will certainly make money more effectively to improve the economic value added. As an intermediary, Islamic banks raise funds from the public and then distribute in the form of financing. In practice, the distribution of funding that is run by Islamic Banking is not as easy as, in theory, because, in fact, there are many financing problems; some are caused by lacking the assessment and supervision of banks to customers. This study aims to analyze the influence of the Third Party Funds, Return on Assets (ROA), Non Performing Financing (NPF), and Financing Deposit Ratio (FDR) to Total Financing provided to the Community by Islamic Banks in Indonesia. The data used is monthly data released by Bank of Indonesia in Islamic Banking Statistics in the time period of January 2009 - December 2013. This study uses cointegration test to see the long-term relationship, and use error correction models to examine the relationship of short-term. The results of this study indicate that the Third Party Fund has a short-term effect on total funding, Return on Assets has a long term effect on the total financing, Non Performing Financing has long-term effects of total financing, and Financing deposit ratio has the effect of short-term and long-term of the total financing provided by Islamic Banks in Indonesia.

Keywords: Islamic banking, third party fund, return on asset, non-performing financing, financing deposit ratio

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Authors: Desta Brhanu Gebrehiwot

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The purpose of this review was to analyze the overall or combined effect of scholarly studies conducted on the impacts of Food for work (FFW) and Productive Safety Net Program (PSNP) on farm households’ livelihood (agricultural investment on the adoption of fertilizer, food security, livestock holding, nutrition and its’ disincentive effect) in Ethiopia. In addition, to make a critical assessment of the internal and external validity of the existing studies, the review also indicates the possibility to redesign the program. The method of selecting eligible studies for review was PICOS (Participants, Intervention, Comparison, Outcomes, and Settings) framework. The method of analysis was the fixed effects model under Meta-Analysis. The findings of this systematic review confirm the overall or combined positive significant impact of PSNP on fertilizer adoption (combined point estimate=0.015, standard error=0.005, variance=0.000, lower limit 0.004 up to the upper limit=0.026, z-value=2.726, and p-value=0.006). And the program had a significant positive impact on the child nutrition of rural households and had no significant disincentive effect. However, the program had no significant impact on livestock holdings. Thus, PSNP is important for households whose livelihood depends on rain-fed agriculture and are exposed to rainfall shocks. Thus, better to integrate the program into the national agricultural policy. In addition, most of the studies suggested that PSNP needs more attention to the design and targeting issued in order to be effective and efficient in social protection.

Keywords: meta-analysis, fixed effect model, PSNP, rural-livelihood, Ethiopia

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Authors: Milton Ayoki, Edward Bbaale

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This paper analyses the relationship between innovation and employment at firm level with the objective of understanding the contribution of the different innovation strategies in fostering employment growth in Uganda. We use National Innovation Survey (micro-data of 705 Ugandan firms) for the period 2011-2014 and follow closely Harrison et al. (2014) structured approach, and relate employment growth to process innovations and to the growth of sales separately due to innovative and unchanged products. We find positive effects of product innovation on employment at firm level, while process innovation has no discernable impact on employment. Although there is evidence to suggest displacement of labour in some cases where firms only introduce new process, this effect is compensated by growth in employment from new products, which for most firms are introduced simultaneously with new process. Results suggest that source of innovation as well as size of innovating firms or end users of innovation matter for job growth. Innovation that develops from within the firm itself (user) and involving larger firms has greater impact on employment than that developed from outside or coming from within smaller firms. In addition, innovative firms are one and half times more likely to survive in the innovation driven economy environment than those that do not innovate. These results have important implications for policymakers and stakeholders in innovation ecosystem. Supporting policies need to be correctly tailored since the impacts depend on the innovation strategy (type) and characteristics and sector of the innovative firms (small, large, industry, etc.). Policies to spur investment, particularly in innovative sectors and firms with high growth potential would have long lasting effects on job creation. JEL Classification: D24, J0, J20, L20, O30.

Keywords: employment, process innovation, product innovation, Sub-Saharan Africa

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Authors: Abubakar-Zagoon Adams, Emmanuel Intsiful, Haruna Zagoon-Sayeed

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Within the Ghanaian context, the promotion of Technical and Vocational Education and Training (TVET) has been faced with many obstacles which are of great concern to national development. One of the obstacles that have been identified as having some negative impact on TVET promotion is the poor public perception of TVET. Poor public perception, as identified in the sub-sectors report in a number of Ghana Education Service reports, has received little attention in both research and the government’s effort to address the poor performance of the TVET sub-sector. This study investigated TVET stakeholders in the Ayawaso-West Municipality in the Greater Accra Region of Ghana to ascertain knowledge of technical and vocational education in Ghana. This study explored parents’ and students’ views and knowledge about technical and vocational education. The study adopted an exploratory research design and a qualitative research approach. Thirty-six (36) participants were selected by employing a purposive sampling technique. Twelve (ten parents and two school personnel) out of the total sample were engaged in key informant interviews, whereas three focus group discussions were conducted with students, eight in each group. The study found that the public has fair knowledge (positive) about TVET, and the other side of the coin knows that TVET is only meant for school dropouts, underprivileged students, and weak academic students. The study recommended that the government should intensify public education on TVET, deliberate investment should be made in TVET infrastructure, as well as proper regulation of the sub-sector.

Keywords: public perception, TVET promotion, socioeconomic, self-employment

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Authors: Usman A. Usman

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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: Pei Wang

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The concept of social-emotional learning (SEL) is becoming increasingly popular in both research and practical applications worldwide. However, there is a lack of empirical studies and implementation of SEL in China, particularly from the perspective of parents. This qualitative study examined how Chinese parents perceived SEL, how their views on SEL were shaped, and how these views affected their decisions regarding their children’s education programs. Using the Collaborative for Academic Social and Emotional Learning Interactive Wheel framework and Bronfenbrenner's bioecological theory, the study conducted interviews with eight parents whose children attended public, international, and private schools in China. All collected data were conducted a thematic analysis involving three coding phases. The findings revealed that interviewees perceived SEL as significant to children’s development but held diverse understandings and perspectives on SEL at school depending on the amount and the quality of SEL resources available in their children’s schools. Additionally, parents’ attitudes towards the exam-oriented education system and Chinese culture influenced their views on SEL in school. Nevertheless, their socioeconomic status (SES) was the most significant factor in their perspectives on SEL, which significantly impacted their choices in their children's educational programs. High-SES families had more options to pursue SEL resources by sending their children to international schools or Western countries, while lower middle-class SES families had limited SEL resources in public schools. This highlighted educational inequality in China and emphasized the need for greater attention and investment in SEL programs in Chinese public schools.

Keywords: Chinese, inequality, parent, school, social-emotional learning

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Authors: Ifeoma Patricia Osamor, Ayotunde Qudus Saka, Godwin Omoregbee, Hikmat Oreoluwalomo Omolaja

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Persistent fall in the value of Nigeria's currency compared to other foreign currencies, constant fluctuations in the exchange rate, and an increase in the price of goods and services necessitated the examination of the effects of exchange rate fluctuations on the economic performance of the manufacturing sector in Nigeria. An ex-post facto research design was adopted. Manufacturing gross domestic product (MGDP) was proxied for performance; Naira/Dollar exchange rate (NDE), Naira/Pounds exchange rate (NPE), Foreign exchange supply (FES) were used for exchange rate fluctuations; and inflation rate (INF) was a control variable. Data were collected from CBN Statistical Bulletin (2020) also World Development Indicators of the World Bank, while data collected were analysed using descriptive analysis, unit root, bounds cointegration test, and ARDL. Findings showed that changes in Naira/Dollar exchange rate (NDE) and Naira/Pound Sterling exchange rate negatively but significantly impact the economic performance of the manufacturing sector, while foreign exchange supply leads to an insignificant positive effect on the economic performance of the manufacturing. The study concludes that exchange rate fluctuations negatively impact the performance of the manufacturing sector in Nigeria and, therefore, recommends that government should encourage export diversification through agriculture, agro-investment, and agro-allied industries that would boost export in order to improve the value of the Naira, thereby stabilizing the exchange rate.

Keywords: exchange rate, economic performance, gross domestic product, inflation rate, foreign exchange supply

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Authors: Tayaa Karima, Bouaziz Amina

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Today's world is knowledge-based; everything we do is somehow connected with technology which it has a remarkable influence on socio-cultural and economic developments, including educational settings. This type of technology is supported in many teaching/learning setting where the medium of instruction is through computer technology, and particularly involving digital technologies. There has been much debate over the use of computers and the internet in foreign language teaching for more than two decades. Various studies highlights that the integration of Information Communications Technology (ICT) in foreign language teaching will have positive effects on both the teachers and students to help them be aware of the modernized world and meet the current demands of the globalised world. Information and communication technology has been gradually integrated in foreign learning environment as a platform for providing learners with learning opportunities. Thus, the impact of ICT on language teaching and learning has been acknowledged globally, this is because of the fundamental role that it plays in the enhancement of teaching and learning quality, modify the pedagogical practice, and motivate learners. Due to ICT related developments, many Maghreb countries regard ICT as a tool for changes and innovations in education. Therefore, the ministry of education attempted to set up computer laboratories and provide internet connection in the schools. Investment in ICT for educational innovations and improvement purposes has been continuing the need of teacher who will employ it in the classroom as vital role of the curriculum. ICT does not have an educational value in itself, but it becomes precious when teachers use it in learning and teaching process. This paper examines the impacts of ICT on teacher development rather than on teaching quality and highlights some challenges facing using ICT in the language learning/teaching.

Keywords: information communications technology (ICT), integration, foreign language teaching, teacher development, learning opportunity

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Authors: Sakapas Saengchai, Pichamon Chansuchai

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Research Thai- Myanmar Border Trade Promotion Policy, Mae Sai District, Chiang Rai Province The objectives of this study were to study the policy of promoting Thai- Myanmar border trade in Mae Sai district, Chiang Rai province. And suitable models for the development of border trade in Mae Sai. Chiang Rai province This research uses qualitative methodology. The method of collecting data from research papers. Participatory Observation In-depth interviews in which the information is important, the governor of Chiang Rai. Chiang Rai Customs Service Executive Office of Mae Sai Immigration Bureau Maesai Chamber of Commerce and Private Entrepreneurs By specific sampling Data analysis uses content analysis. The study indicated that Border Trade Promotion Policy The direction taken by the government to focus on developing 1. Security is further reducing crime. Smuggling and human trafficking Including the preparation to protect people from terrorism and natural disasters. And cooperation with Burma on border security. 2. The development of wealth is the promotion of investment. The transport links, logistics value chain. Products and services across the Thai-Myanmar border. Improve the regulations and laws to promote fair trade. Convenient and fast 3. Sustainable development is the ability to generate income, quality of life of people in the Thai border to increase continuously. By using balanced natural resources, production and consumption are environmentally friendly. Which featured the participation of all sectors of the public and private sectors in the region to drive the development of the border with Thailand. Chiang Rai province To be more competitive .

Keywords: Border, Trade, Policy, Promote

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Authors: Md. Arifur Rahman, Ummya Salma, Nazrul Islam

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Private sector banking business is one of the leading businesses of Bangladesh as it is profitable and directly attached with the economic development of the country. Training has got very high importance in this sector for increasing the performance of the banks. It has a long term impact on a number of aspects of the bank employees and their performances. It is an investment of the organization that is permanent in nature. Study shows that there are positive relationships between training and the employee commitment, job retention, job satisfaction and company performance. Training is also concerned with promotion, compensation, work-life policies, career development, task and contextual performance of the employees. As such, this paper aims at identifying the impact of training on employee commitment, job retention, job satisfaction and the performance of the private sector banks in Bangladesh. Both primary and secondary data were used to conduct the study. Data were collected from the bank officers who were trained in their banks. Both descriptive and inferential statistics were used to analyze the data. Descriptive statistics were used to describe the present situation of the banks and their employees. Inferential statistics were used to identify the factors and their significance concerned with training. Results show that there is a significant relationship between the performance and the training of the employees. It also shows that the training can motivate employees and encourage them to work hard. However, this study did not find any relationship between the commitment of the employees and the training. This study suggests that for increasing the performance of the banks, training is a must which is to be given deliberately for improving the specific skills of the bank employees.

Keywords: training, promotion, compensation, work-life policies

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Authors: Olivia Rybak-Karkosz

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This paper aims to present the results of scientific research on methods of forging art prints and their elements, such as signature or provenance and forensic science methods that might be used to verify their authenticity. In the last decades, the art market has observed significant interest in purchasing prints. They are considered an economical alternative to paintings and a considerable investment. However, the authenticity of an art print is difficult to establish as similar visual effects might be achieved with drawings or xerox. The latter is easy to make using a home printer. They are then offered on flea markets or internet auctions as genuine prints. This probable ease of forgery and, at the same time, the difficulty of distinguishing art print techniques were the main reasons why this research was undertaken. A lack of scientific methods dedicated to disclosing a forgery encouraged the author to verify the possibility of using forensic science's methods known and used in other fields of expertise. This research methodology consisted of completing representative forgery samples collected in selected museums based in Poland and a few in Germany and Austria. That allowed the author to present a typology of methods used to forge art prints. Given that one of the most famous graphic design examples is bills and securities, it seems only appropriate to propose in print verification the usage of methods of detecting counterfeit currency. These methods contain an examination of ink, paper, and watermarks. On prints, additionally, signatures and imprints of stamps, etc., are forged as well. So the examination should be completed with handwriting examination and forensic sphragistics. The paper contains a stipulation to conduct a complex analysis of authenticity with the participation of an art restorer, art historian, and forensic expert as head of this team.

Keywords: art forgery, examination of an artwork, handwriting analysis, prints

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Authors: J. M. Counsell, Y. Khalid, M. J. Stewart

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Achieving nearly zero carbon heating continues to be identified by UK government analysis as an important feature of any lowest cost pathway to reducing greenhouse gas emissions. Heat currently accounts for 48% of UK energy consumption and approximately one third of UK’s greenhouse gas emissions. Heat Networks are being promoted by UK investment policies as one means of supporting hybrid heat pump based solutions. To this effect the RISE (Renewable Integrated and Sustainable Electric) heating system project is investigating how an all-electric heating sourceshybrid configuration could play a key role in long-term decarbonisation of heat.  For the purposes of this study, hybrid systems are defined as systems combining the technologies of an electric driven air source heat pump, electric powered thermal storage, a thermal vessel and micro-heat network as an integrated system.  This hybrid strategy allows for the system to store up energy during periods of low electricity demand from the national grid, turning it into a dynamic supply of low cost heat which is utilized only when required. Currently a prototype of such a system is being tested in a modern house integrated with advanced controls and sensors. This paper presents the virtual performance analysis of the system and its design for a micro heat network with multiple dwelling units. The results show that the RISE system is controllable and can reduce carbon emissions whilst being competitive in running costs with a conventional gas boiler heating system.

Keywords: gas boilers, heat pumps, hybrid heating and thermal storage, renewable integrated and sustainable electric

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Authors: Pragya Pandey

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A major discussion in the 21st -century international affairs has been around the shifting economic and political center of gravity to Asia. In the maritime realm, it translates into a shift in focus from the Atlantic to the Pacific-Indian Ocean region or what is now popularly called the Indo-Pacific region. The Indo-Pacific is rapidly eclipsing once dominant Asia-Pacific as center of trade, investment, competition and cooperation. The growing inter-connectivity between the Indian Ocean and the Pacific Ocean is bringing forth the ‘confluence of the two seas’. Therefore, the Indo-Pacific strategic arc is acquiring greater salience in consonance with the changing realities of the time. The region is undergoing unprecedented transformation in its security outlook. At present, the region is at an interesting historic epoch- witnessing the simultaneous rise India and China, their economic growth, naval modernization and power projection capabilities, alongside the continued presence of the United States, particularly with its rebalancing strategy. Besides the interplay among the three major stakeholders, other regional players like Japan, Australia, and Indonesia, would play a crucial role in the geopolitical re-arrangement of the Indo-Pacific region. The region will be the future theater of activities to determine the shifts and distribution of sea power, by the virtue of its strategic location, intrinsic value of the energy resources and significant maritime trade routes of the region. Therefore, the central theme of the paper would be to scrutinize the maritime security environment of the region against the backdrop of the tricky geopolitical landscape, contributing to the change in the regional and global balance of power.

Keywords: China, geopolitics, India, United States

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Authors: Innocent Uzougbo Onwuegbuzie, Siene Elizabeth Eke

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This study investigates cybersecurity challenges and solutions in managing Information and Communication Technology (ICT) at the Federal Polytechnic, Ado-Ekiti, South-West Nigeria. The rapid evolution of ICT has revolutionized organizational operations and impacted various sectors, including education, healthcare, and finance. While ICT advancements facilitate seamless communication, complex data analytics, and strategic decision-making, they also introduce significant cybersecurity risks such as data breaches, ransomware, and other malicious attacks. These threats jeopardize the confidentiality, integrity, and availability of information systems, necessitating robust cybersecurity measures. The primary aim of this research is to identify prevalent cybersecurity challenges in ICT management, evaluate their impact on the institution's operations, and assess the effectiveness of current cybersecurity solutions. Adopting a quantitative research approach, data was collected through surveys and structured questionnaires from students, staff, and IT professionals at the Federal Polytechnic, Ado-Ekiti. The findings underscore the critical need for continuous investment in cybersecurity technologies, employee and student training, and regulatory compliance to mitigate evolving cyber threats. This research contributes to bridging the knowledge gap in cybersecurity management and provides valuable insights into effective strategies and technologies for safeguarding ICT systems in educational institutions. The study's objectives are to enhance the security posture of the Federal Polytechnic, Ado-Ekiti, in an increasingly digital world by identifying and addressing the cybersecurity challenges faced by its ICT management.

Keywords: cybersecurity challenges, cyber threat mitigation, federal polytechnic Ado-Ekiti, ICT management

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Authors: Abdul Rauf, Xiaoxing Liu, Waqas Amin

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Stock markets are fascinating more and more conductive to each other due to liberalization and globalization trends in recent years. China Pakistan Economic Corridor (CPEC) has dragged Pakistan stock exchange to the new heights and global investors are making investments to reap its benefits. So, in investors and government perspective, the study focuses co-integration of Pakistan stock exchange with world’s five big economies i-e US, China, England, Japan, and France. The time period of study is seven years i-e 2010 to 2016 and daily values of major indices of corresponding stock exchanges collected. All variables of that particular study are stationary at first difference confirmed by unit root test. The study Johansen system co integration test for analysis of data along with Granger causality test is performed for result purpose. Co integration test asserted that Pakistan stock exchange integrated with Shanghai stock exchange (SSE) and NIKKEI stock exchange in short run. Granger causality test also proclaimed these results. But NASDAQ, FTSE, DAX not co integrated and Granger cause at a short run but long run these markets are bonded with Pakistan stock exchange (KSE). VECM also confirmed this liaison in short and long run. Investors, therefore, need to be updated regarding co-integration of world’s stock exchanges to ensure well diversified and risk adjusted high returns. Equally, governments also need updated status so that they could reduce co-integration through multiple steps and hence drag investors for diversified investment.

Keywords: CPEC, DAX, FTSE, liberalization, NASDAQ, NIKKEI, SSE, stock markets

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Authors: Nurul Ain Haron, Saiful Hazmi Bachek, Hafez Zainudin

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This study is aimed to establish the importance and contribution of Original Design Manufacturing (ODM) in Malaysian Furniture Industry and to close the gap between the players in the industry. The study confirms that today’s furniture industry favor Original Equipment Manufacturing (OEM) basis. Thus, resulting in the local industry lacking the expertise of designing furniture to a state of no contest. This study method used consists of literature reviews, observation, questionnaire and sessions of interviews. The result shows that the public has from minimum to almost no knowledge of the term Original Design Manufacturing (ODM) concept and the impact towards our current future industry. The manufacturers however, prefers Original Equipment Manufacturing (OEM) concept due to its easy and fast investment returns with the need of product designing process, while the interviews carried out with the authorized council had some convincing urges of doing their part promoting the awareness through trainings and seminars. Findings show that, in the rush of archiving ODM status needs extensive cooperation from many parties that are authorized council, furniture manufacturers, designers and also the public perceptions of labeling local made goods as the black goat. The current mind set of OEM manufacturers need to be change for industry’s future. As Malaysia’s living status constantly increases, so will the demands of a better salary. If these current issues are not resolved, OEM international buyers will definitely have to shift to some other lower cost manufacturer like China or Taiwan. When vendors stopped to order, today’s OEM manufacturers will no longer exist in the future.

Keywords: design manufacturing, furniture design, original design manufacturing, original equipment manufacturing

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Authors: Yakubu Abdulai, Kenichi Matsui

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The agricultural industry has faced a variety of challenges in meeting the expanding income demand of the rural population. As a result, rural households must diversify their income sources to meet their income demand. Although income diversification strategies help rural households, it contributes to total household income, and the socio-demographic determinants are not known in the Upper East Region of Ghana. For these reasons, the purpose of this study was to determine the contribution of income diversification strategies to household income and the socio-demographic factors influencing it. We conducted a questionnaire survey among 360 rural households in the Upper East Region of Ghana. We asked about their socio-demographic information, their choice of income diversification strategies, and their remittances through rural-city migration. The questionnaire survey findings demonstrate that the main livelihood income source contributes 22%, and on-farm income diversification contributes the most to household total income (47%), followed by non-farm diversification income (16%) and off-farm diversification income (15%). Calculations from the income diversity index showed that the average income diversification strategy was 0.5 out of 1. The calculation of the income dependence index also showed that the average dependent on a particular source of income was 0.2 out of 1. All the respondents said household members temporarily migrate to contribute to household income through remittances. The results further reveal that their choice of income diversification is influenced by their age, educational background, experience, and farm size. The paper recommends the promotion of rural development policies that increase income-generating activities and educate rural households on how to increase returns from their investment.

Keywords: income diversification, poverty alleviation, rural households, upper east region

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Authors: Ons Triki, Fathi Abid

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The basic objective of this paper is twofold. It resides in designing a model for a contingent convertible lease contract that can ensure the financial stability of a company and recover the losses of the parties to the lease in the event of default. It also aims to compare the convertible lease contract on inefficiencies resulting from the debt-overhang problem and asset substitution with other financing policies. From this perspective, this paper highlights the interaction between investments and financing policies in a dynamic model with existing assets and a growth option where the investment cost is financed by a contingent convertible lease and equity. We explore the impact of the contingent convertible lease on the capital structure. We also check the reliability and effectiveness of the use of the convertible lease contract as a means of financing. Findings show that the rental convertible contract with a sufficiently high conversion ratio has less severe inefficiencies arising from risk-shifting and debt overhang than those entailed by risky debt and pure-equity financing. The problem of underinvestment pointed out by Mauer and Ott (2000) and the problem of overinvestment mentioned by Hackbarth and Mauer (2012) may be reduced under contingent convertible lease financing. Our findings predict that the firm value under contingent convertible lease financing increases globally with asset volatility instead of decreasing with business risk. The study reveals that convertible leasing contracts can stand for a reliable solution to ensure the lessee and quickly recover the counterparties of the lease upon default.

Keywords: contingent convertible lease, growth option, debt overhang, risk-shifting, capital structure

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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: household, government expenditures, vector error correction model, johansen test

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Authors: Changju Lee, Seungmo Ku, Sondo Kim, Woojin Chang

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How to detecting financial bubble? Addressing this simple question has been the focus of a vast amount of empirical research spanning almost half a century. However, financial bubble is hard to observe and varying over the time; there needs to be more research on this area. In this paper, we used abnormal difference between common stocks price and those preferred stocks price to explain financial bubble. First, we proposed the ‘W-index’ which indicates spread between common stocks and those preferred stocks in stock market. Second, to prove that this ‘W-index’ is valid for measuring financial bubble, we showed that there is an inverse relationship between this ‘W-index’ and S&P500 rate of return. Specifically, our hypothesis is that when ‘W-index’ is comparably higher than other periods, financial bubbles are added up in stock market and vice versa; according to our hypothesis, if investors made long term investments when ‘W-index’ is high, they would have negative rate of return; however, if investors made long term investments when ‘W-index’ is low, they would have positive rate of return. By comparing correlation values and adjusted R-squared values of between W-index and S&P500 return, VIX index and S&P500 return, and TED index and S&P500 return, we showed only W-index has significant relationship between S&P500 rate of return. In addition, we figured out how long investors should hold their investment position regard the effect of financial bubble. Using this W-index, investors could measure financial bubble in the market and invest with low risk.

Keywords: financial bubble detection, future return, forecasting, pairs trading, preferred stocks

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Authors: Mohd Bahroddin Badri, Ridzuan Masri

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Despite the existence of large volume of waqf assets, it is argued that the potential of these assets not fully unleashed. There are many waqf assets especially in the form of land waqf that are idle and undeveloped mainly because of the insufficient fund and lack of investment expertise. This paper attempts to explore few cases on the innovation of waqf development in Malaysia and some countries that demonstrate synergistic collaboration between stakeholders, e.g., the government, nazir, Islamic religious councils, corporate entities and Islamic financial institutions for waqf development. This paper shows that cash waqf, corporate waqf, Build-Operate-Transfer (BOT) and Sukuk are found to be contemporary mechanisms within Islamic finance ecosystem that drive and rejuvenate the development of waqf to the next level. It further highlights few samples of waqf Sukuk that were successfully issued in selected countries. This paper also demonstrates that the benefit of waqf is beyond religious matters, which may also include education, healthcare, social care, infrastructure and corporate social responsibility (CSR) activities. This research is qualitative in nature, whereby the researcher employs descriptive method on the collected data. The researcher applies case study and library research method to collect and analyse data from journal articles, research papers, conference paper and annual reports. In a nutshell, the potential of contemporary models as demonstrated in this paper is very promising, in which the practical application of those instruments should be expanded for the rejuvenation of waqf asset.

Keywords: cash waqf, corporate waqf, Sukuk waqf, build-operate-transfer

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Authors: Meenalochana Inguva

Abstract:

The context: The Center for Preparatory study is one of the strongest and most vibrant academic teaching units of the Sultan Qaboos University (SQU). The Foundation Programme English Language (FPEL) is part of a larger foundation programme which was implemented at SQU in fall 2010. The programme has been designed to prepare the students who have been accepted to study in the university in order to achieve the required educational goals (the learning outcomes) that have been designed according to Oman Academic Standards and published by the Omani Authority for Academic Accreditation (OAAA) for the English language component. The curriculum: At the CPS, the English language curriculum is based on the learning outcomes drafted for each level. These learning outcomes guide the students in meeting what is expected of them by the end of each level. These six levels are progressive in nature and are seen as a continuum. The study: A periodic evaluation of language programmes is necessary to improve the quality of the programmes and to meet the set goals of the programmes. An evaluation may be carried out internally or externally depending on the purpose and context. A self-study programme was initiated at the beginning of spring semester 2015 with a team comprising a total of 11 members who worked with-in the assigned course areas (level and programme specific). Only areas specific to FPEL have been included in the study. The study was divided into smaller tasks and members focused on their assigned courses. The self-study primarily focused on analyzing the programme LOs, curriculum planning, materials used and their relevance against the GFP exit standards. The review team also reflected on the assessment methods and procedures followed to reflect on student learning. The team has paid attention to having standard criteria for assessment and transparency in procedures. A special attention was paid to the staging of LOs across levels to determine students’ language and study skills ability to cope with higher level courses. Findings: The findings showed that most of the LOs are met through the materials used for teaching. Students score low on objective tests and high on subjective tests. Motivated students take advantage of academic support activities others do not utilize the student support activities to their advantage. Reading should get more hours. In listening, the format of the listening materials in CT 2 does not match the test format. Some of the course materials need revision. For e.g. APA citation, referencing etc. No specific time is allotted for teaching grammar Conclusion: The findings resulted in taking actions in bridging gaps. It will also help the center to be better prepared for the external review of its FPEL curriculum. It will also provide a useful base to prepare for the self-study portfolio for GFP standards assessment and future audit.

Keywords: curriculum planning, learning outcomes, reflections, self-evaluation

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Authors: Risikat Oladoyin S. Dauda, Onyebuchi Iwegbu

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This study investigates the response of human development outcomes to selected macroeconomic indicators in Nigeria. Human development outcomes is measured by human development index while the selected macroeconomic variables are inflation rate, real interest rate, government capital expenditure, real exchange rate, current account balance, and savings. Structural Vector Autoregression (SVAR) technique is employed in examining the response of human development index to the macroeconomic shocks. The result from the forecast error variance decomposition and Impulse-Response analysis reveals that fiscal policy (government capital expenditure) shock is the greatest determinant of human development outcomes. This result reiterates the role which the government plays in improving the welfare of the citizenry. The fiscal policy tool is pivotal in human development which comes in the form of investment in education, health, housing, and infrastructure. Further conclusion drawn from this study is that human development outcome positively and significantly responds to shocks from real interest rate, a monetary policy transmission variable and is felt greatly in the short run period. The policy implication of this study is that if capital budget implementation falls below expectations, human development will be engendered. Hence, efforts should be made to ensure that full implementation and appraisal of government capital expenditure is taken sacrosanct as any shock from such plan, engenders human development outcome.

Keywords: human development outcome, macroeconomic outcomes, structural vector autoregression, SVAR

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Authors: Pawitchaya Srijaiwong, Surin Khomfoi

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There are several solutions to supply electricity to an island in Thailand such as diesel generation, submarine power cable, and renewable energy power generation. However, each alternative has its own limitation like fuel and pollution of diesel generation, submarine power cable length resulting in loss of cable and cost of investment, and potential of renewable energy in the local area. This paper shows microgrid system which is a new alternative for power supply to an island. It integrates local power plant from renewable energy, energy storage system, and microgrid controller. The suitable renewable energy power generation on an island is selected from geographic location and potential evaluation. Thus, photovoltaic system and hydro power plant are taken into account. The capacity of energy storage system is also estimated by transient stability study in order to supply electricity demand sufficiently under normal condition. Microgrid controller plays an important role in conducting, communicating and operating for both sources and loads on an island so that its functions are discussed in this study. The conceptual design of microgrid operation is investigated in order to analyze the reliability and power quality. The result of this study shows that microgrid is able to operate in parallel with the main grid and in case of islanding. It is applicable for electricity supply to an island and a remote area. The advantages of operating microgrid on an island include the technical aspect like improving reliability and quality of power system and social aspects like outage cost saving and CO₂ reduction.

Keywords: energy storage, islanding, microgrid, renewable energy

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Authors: Khalid Bashir, Hammad Zahid

Abstract:

Most of the investors consider that economic and financial information is the most important at the time of making investment decisions. But it is not true, as in the past two decades, the Behavioral aspects and the behavioral biases have gained an important place in the decision-making process of an investor. This study is basically conducted on this fact. The purpose of this study is to examine the impact of behavioral factors on the decision-making of the individual real estate investor in Pakistan. Some important behavioral factors like overconfidence, anchoring, gambler’s fallacy, home bias, loss aversion, regret aversion, mental accounting, herding and representativeness are used in this study to find their impact on the psychology of individual investors. The targeted population is the real estate investor of Pakistan, and a sample of 650 investors is selected on the basis of convenience sampling technique. The data is collected through the questionnaire with a response rate of 46.15 %. Descriptive statistical techniques and SEM are used to analyze the data by using statistical software. The results revealed the fact that some behavioral factors have a significant impact on the decision-making of investors. Among all the behavioral biases, overconfidence, anchoring, gambler’s fallacy, loss aversion and representativeness have a significant positive impact on the decision-making of the individual investor, while the rest of biases like home bias, regret aversion, mental accounting, herding have less impact on the decision-making process of an individual.

Keywords: behavioral finance, anchoring, gambler’s fallacy, loss aversion

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Authors: Esther M. Folarin, Evans Osabuohien, Ademola Onabote

Abstract:

Agriculture constitutes an important part of development and poverty mitigation in lower-middle-income countries, like Nigeria. The level of agricultural productivity in the Nigerian economy in line with the level of demand necessary to meet the desired expectation of the Nigerian populace is threatening to meeting the standard of the United Nations (UN) Sustainable Development Goals (SDGs); This includes the SDG-2 (achieve food security through agricultural productivity). The overall objective of the study is to reveal the performance of the interaction variable in the model among other factors that help in the achievement of greater Nigerian agricultural productivity. The study makes use of Wave 4 (2018/2019) of the Living Standard Measurement Studies, Integrated Survey on Agriculture (LSMS-ISA). Qualitative analysis of the information was also used to provide complimentary answers to the quantitative analysis done in the study. The study employed human capital theory and Grossman’s theory of health Demand in explaining the relationships that exist between the variables within the model of the study. The study engages the Instrumental Variable Regression technique in achieving the broad objectives among other techniques for the other specific objectives. The estimation results show that there exists a positive relationship between female healthcare and the level of female agricultural productivity in Nigeria. In conclusion, the study emphasises the need for more provision and empowerment for greater female access to healthcare and educational attainment levels that aids higher female agricultural productivity and consequently an improvement in the total agricultural productivity of the Nigerian economy.

Keywords: agricultural productivity, education, female, healthcare, investment

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