Search results for: islamic finance in Europe
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2088

Search results for: islamic finance in Europe

1038 On the Transition of Europe’s Power Sector: Economic Consequences of National Targets

Authors: Geoffrey J. Blanford, Christoph Weissbart

Abstract:

The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO2-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European, policy evaluation, power sector investment, technology choices

Procedia PDF Downloads 269
1037 Financial Inclusion for Inclusive Growth in an Emerging Economy

Authors: Godwin Chigozie Okpara, William Chimee Nwaoha

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The paper set out to stress on how financial inclusion index could be calculated and also investigated the impact of inclusive finance on inclusive growth in an emerging economy. In the light of these objectives, chi-wins method was used to calculate indexes of financial inclusion while co-integration and error correction model were used for evaluation of the impact of financial inclusion on inclusive growth. The result of the analysis revealed that financial inclusion while having a long-run relationship with GDP growth is an insignificant function of the growth of the economy. The speed of adjustment is correctly signed and significant. On the basis of these results, the researchers called for tireless efforts of government and banking sector in promoting financial inclusion in developing countries.

Keywords: chi-wins index, co-integration, error correction model, financial inclusion

Procedia PDF Downloads 635
1036 Relationship between Emotional Intelligence and Decision-Making Styles: A Study of Iranian Managers at Different Organizational Levels

Authors: Seyyedeh Mahdis Mousavi, Masoud Maghsoudi, Zahra Vahed

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The purpose of this paper is to examine the relationship between emotional intelligence as conceptualized in Goleman’s competency model, and decision making styles in levels of management. To conduct this study, different level managers in Iran Broadcasting Organization completed a questionnaire on emotional intelligence and decision making styles. Researcher used descriptive and inferential statistics to describe data and analyze the two variables relationship in managers of three levels. Results revealed significant relationships for rational, dependent, avoidant, and spontaneous styles. No significant relationship was found for intuitive style. Yet the results indicate that avoidant style has negative relation to EI. Furthermore, EI has direct and strong relation to rational style.

Keywords: emotional intelligence (EI), decision making styles, Islamic Republic of Iran Broadcasting (IRIB), Iranian manager

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1035 Unravelling the Procedural Obligations of the Administration in the Case Law of the European Court of Human Rights

Authors: Agne Andrijauskaite

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The observance of procedural rights by administrative authorities is essential for the effective implementation of subjective rights and is part and parcel of the notion of good governance. Whilst a lot of legal scholarship addresses the scope and content of such rights under the European Union legal framework, a very limited attention is given to their application in the case law of European Court of Human Rights (ECtHR) despite its growing engagement with the subject. This paper written as a part of a wider project on the development of pan-European principles of good administration by the Council of Europe aims to fill this lacuna. This will be done by delimiting the scope and extent of individual procedural safeguards through an analysis of the practice of the ECtHR. The right to be heard, the right to access the files and the right to a decision in reasonable time by administrative authorities will be selected as loci classici for the purpose of this article. The results presented in the paper should contribute to the awareness of growing body of ECtHR’s case-law revolving around administrative procedural law and the growing debate on the notion of good governance found therein within academic community.

Keywords: European Court of Human Rights, good governance, procedural rights, procedural Law

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1034 The Effect of Nitrogen Fertilizer Use Efficiency in Corn Yield and Yield Components in Cultivars KSC 704

Authors: Elham Bagherzadeh, Mohammad Fadaee, Rouhollah Keykhosravi

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In order to survey the nitrogen use efficiency in corn, the experimental plot in a randomized complete block design 2014 agricultural farm was Islamic Azad University of Karaj. The main factor was four levels of nitrogen fertilizer (respectively control, 150, 200 and 250 kg nitrogen fertilizer) and subplots consisted two levels of superabsorbent polymer Stockosorb (use, do not use). Analysis of variance is showed that different nitrogen levels and different superabsorbent of levels statistically significant. Comparisons average also showed there is a significant difference between use and non-use of superabsorbent. The results showed the interactions nitrogen and SAP by one percent level has a significant and effect on Fresh weight per plant, plant dry weight, biological yield, harvest index, cob diameter, cob dry weight, leaf width, leaf area were at the level of five percent statistical significant effect on Ear weight and grain yield.

Keywords: corn, nitrogen, comparison, biological yield

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1033 The Genetic Diversity and Conservation Status of Natural Populus Nigra Populations in Turkey

Authors: Asiye Ciftci, Zeki Kaya

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Populus nigra is one of the most economically and ecologically important forest trees in Turkey, well known for its rapid growth, good ability to vegetative propagation and the extreme uses of its wood. Due to overexploitation, loss of natural distribution area and extreme hybridization and introgression, Populus nigra is one of the most threatened tree species in Turkey and Europe. Using 20 nuclear microsatellite loci, the genetic structure of European black poplar populations along the two largest rivers of Turkey was analyzed. All tested loci were highly polymorphic, displaying 5 to 15 alleles per locus. Observed heterozygosity (overall Ho = 0.79) has been higher than the expected (overall He = 0.58) in each population. Low level of genetic differentiation among populations (FST= 0,03) and excess of heterozygotes for each river were found. Human-mediated dispersal, phenotypic selection, high level of gene flow and extensive circulations of clonal materials may cause those situations. The genetic data obtained from this study could provide the basis for efficient in situ and ex-situ conservation and restoration of species natural populations in its natural habitat as well as having sustainable breeding and poplar plantations in the future.

Keywords: populus, clonal, loci, ex situ

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1032 Explaining the Impact of Poverty Risk on Frailty Trajectories in Old Age Using Growth Curve Models

Authors: Erwin Stolz, Hannes Mayerl, Anja Waxenegger, Wolfgang Freidl

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Research has often found poverty associated with adverse health outcomes, but it is unclear which (interplay of) mechanisms actually translate low economic resources into poor physical health. The goal of this study was to assess the impact of educational, material, psychosocial and behavioural factors in explaining the poverty-health association in old age. We analysed 28,360 observations from 11,390 community-dwelling respondents (65+) from the Survey of Health, Ageing and Retirement in Europe (SHARE, 2004-2013, 10 countries). We used multilevel growth curve models to assess the impact of combined income- and asset poverty risk on old age frailty index levels and trajectories. In total, 61.8% of the variation of poverty risk on frailty levels could be explained by direct and indirect effects, thereby highlighting the role of material and particularly psychosocial factors, such as perceived control and social isolation. We suggest strengthening social policy and public health efforts in order to fight poverty and its deleterious effects from early age on and to broaden the scope of interventions with regard to psychosocial factors.

Keywords: frailty, health inequality, old age, poverty

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1031 The State in Africa and the twenty-First Century Global Economic Relations

Authors: Sunday Ofum Ogon

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The 1648 Westphalia Conference in Europe ushered in the state as the only legal entity with powers to engage in interstate relations on matters that bothers on the development need of her citizens. This epochal entry of the state reshaped global relations with the curtailment of the powers of individual and groups in external relations as the state became the only entity that acted on behalf of any individual or non-state actors like NGOs residing within the parameters of such a country. Thus, the paper interrogated the extent at which the state determines her Politico-Economic relations with regards to development and growth within the state. To achieve these objectives, the paper relied on documentary evidences wherein the qualitative descriptive method was used for data collection and analysis. The paper exploited the facilities of the Rentier State theory as a guide to the study. It was revealed at the end of the study that the 21st century global economic relations is largely determine by international organizations as exemplified by the World Bank and the International Monitory Fund (IMF) where their activities in the continent has undermined state sovereignty. Hence the paper recommended amongst others that states should look inward for development strategies rather than relying on handout from supra-national organizations which has infringe on their sovereignty.

Keywords: State , Global , Rentier state, Twenty-First Century

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1030 The Potential of Dinar (Gold) Currency as the Main Object Transaction in Indonesia

Authors: Muhammad Ilham Agus Salim, Mohammad Ali

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In this article, we have elaborated a study over the nature of Islamic financial transaction by comparing between Dinar and IDR currency in Indonesia. We have found the interesting issue among scholars and practitioners in which Dinar would be a single currency ASEAN Economic Community (AEC), then becoming motivation and added value research. The assessment among dinar volatility analysis for three years ago and IDR fluctuation as well as outlook qualitative test regarding dinar are components of analysis that weak Indonesian currency should be altered to be better coinage. The value of dinar more stable than IDR and also eligible as a currency e.g. limited quantities, easy to carry, durable, easy to saved, and has the same quality. On the other hand, the existing of IDR has defeated by inflation. The EViews program explained that Dinar at current level still fluctuate, but in the first different have fixed variant. The result of analysis describing that dinar has potential as the medium exchange, because the material of dinar is relevant and feasible since 14 century until present. Therefore, dinar should be considered to solve Indonesia crisis today.

Keywords: medium of exchange, dinar & IDR currency, volatility analysis, EViews program

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1029 Effect of Water Activity, Temperature, and Incubation Time on Growth and Ochratoxin a Production by Aspergillus fresenii and Aspergillus sulphureus on Niger Seeds

Authors: Yung-Chen Hsu, Juan Hernandez, W. T. Evert Ting, Dawit Gizachew

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Mycotoxin contamination of foods and feeds poses a high risk for human and animal health. Ochratoxin A (OTA) is a ubiquitous mycotoxin produced by Aspergillus and Penicillium fungi. It exhibits nephrotoxicity, teratogenicity, mutagenicity, and immunotoxicity in both humans and animals. OTA has been detected in foods such as cereals, coffee, grapes, cocoa, wine, and spices. Consumption of food contaminated with OTA has been linked to kidney and liver diseases. Niger (Guizotia abyssinica) is an oil seed that is used for extracting cooking oil in countries like Ethiopia and India. The seed cake (a byproduct from oil extraction) is also used as dairy cattle feed in Ethiopia. It is also exported to North America and Europe to be used mainly as bird feed. To our knowledge, there have been no studies on the growth and production of OTA on niger seeds. In this study, the environment conditions that support OTA production including effects of water activity, temperature, and incubation time on growth and OTA production by A. fresenii and A. sulphureus were investigated.

Keywords: mycotoxin, ochratoxin A, aspergillus, niger seed

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1028 State of Play for the World’s Largest Greenhouse Gas Emitters

Authors: Olivia Meeschaert

Abstract:

The Conference of the Parties (COP) refers to the countries that signed on to the United Nations Framework Convention on Climate Change. This annual conference provides a platform for countries to voice their major climate concerns, negotiate on a number of global issues, and come to agreements with the world’s largest emitters on how to make incremental changes that will achieve global climate goals. Historically, the outcome of COP includes major climate pledges and international agreements. COP27 will take place in Egypt at the beginning of November 2022. The 197 parties will come together to develop solutions to the dire consequences of climate change that many people around the world are already experiencing. The war in Ukraine will require a different tone from last year’s COP, particularly given that major impacts of the war are being felt throughout Europe and have had a detrimental effect on the region’s progress in achieving the benchmarks set in their climate pledges. Last year’s COP opened with many climate advocates feeling optimistic but the commitments made in Glasgow have so far remained empty promises, and the main contributors to climate change – China, the European Union, and the United States of America – have not moved fast enough.

Keywords: environment, law and policy, china, European union, united states, greenhouse gas, climate change

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1027 SEM Image Classification Using CNN Architectures

Authors: Güzi̇n Ti̇rkeş, Özge Teki̇n, Kerem Kurtuluş, Y. Yekta Yurtseven, Murat Baran

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A scanning electron microscope (SEM) is a type of electron microscope mainly used in nanoscience and nanotechnology areas. Automatic image recognition and classification are among the general areas of application concerning SEM. In line with these usages, the present paper proposes a deep learning algorithm that classifies SEM images into nine categories by means of an online application to simplify the process. The NFFA-EUROPE - 100% SEM data set, containing approximately 21,000 images, was used to train and test the algorithm at 80% and 20%, respectively. Validation was carried out using a separate data set obtained from the Middle East Technical University (METU) in Turkey. To increase the accuracy in the results, the Inception ResNet-V2 model was used in view of the Fine-Tuning approach. By using a confusion matrix, it was observed that the coated-surface category has a negative effect on the accuracy of the results since it contains other categories in the data set, thereby confusing the model when detecting category-specific patterns. For this reason, the coated-surface category was removed from the train data set, hence increasing accuracy by up to 96.5%.

Keywords: convolutional neural networks, deep learning, image classification, scanning electron microscope

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1026 Stochastic Pi Calculus in Financial Markets: An Alternate Approach to High Frequency Trading

Authors: Jerome Joshi

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The paper presents the modelling of financial markets using the Stochastic Pi Calculus model. The Stochastic Pi Calculus model is mainly used for biological applications; however, the feature of this model promotes its use in financial markets, more prominently in high frequency trading. The trading system can be broadly classified into exchange, market makers or intermediary traders and fundamental traders. The exchange is where the action of the trade is executed, and the two types of traders act as market participants in the exchange. High frequency trading, with its complex networks and numerous market participants (intermediary and fundamental traders) poses a difficulty while modelling. It involves the participants to seek the advantage of complex trading algorithms and high execution speeds to carry out large volumes of trades. To earn profits from each trade, the trader must be at the top of the order book quite frequently by executing or processing multiple trades simultaneously. This would require highly automated systems as well as the right sentiment to outperform other traders. However, always being at the top of the book is also not best for the trader, since it was the reason for the outbreak of the ‘Hot – Potato Effect,’ which in turn demands for a better and more efficient model. The characteristics of the model should be such that it should be flexible and have diverse applications. Therefore, a model which has its application in a similar field characterized by such difficulty should be chosen. It should also be flexible in its simulation so that it can be further extended and adapted for future research as well as be equipped with certain tools so that it can be perfectly used in the field of finance. In this case, the Stochastic Pi Calculus model seems to be an ideal fit for financial applications, owing to its expertise in the field of biology. It is an extension of the original Pi Calculus model and acts as a solution and an alternative to the previously flawed algorithm, provided the application of this model is further extended. This model would focus on solving the problem which led to the ‘Flash Crash’ which is the ‘Hot –Potato Effect.’ The model consists of small sub-systems, which can be integrated to form a large system. It is designed in way such that the behavior of ‘noise traders’ is considered as a random process or noise in the system. While modelling, to get a better understanding of the problem, a broader picture is taken into consideration with the trader, the system, and the market participants. The paper goes on to explain trading in exchanges, types of traders, high frequency trading, ‘Flash Crash,’ ‘Hot-Potato Effect,’ evaluation of orders and time delay in further detail. For the future, there is a need to focus on the calibration of the module so that they would interact perfectly with other modules. This model, with its application extended, would provide a basis for researchers for further research in the field of finance and computing.

Keywords: concurrent computing, high frequency trading, financial markets, stochastic pi calculus

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1025 Mechanical Characterization and Impact Study on the Environment of Raw Sediments and Sediments Dehydrated by Addition of Polymer

Authors: A. Kasmi, N. E. Abriak, M. Benzerzour, I. Shahrour

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Large volumes of river sediments are dredged each year in Europe in order to maintain harbour activities and prevent floods. The management of this sediment has become increasingly complex. Several European projects were implemented to find environmentally sound solutions for these materials. The main objective of this study is to show the ability of river sediment to be used in road. Since sediments contain a high amount of water, then a dehydrating treatment by addition of the flocculation aid has been used. Firstly, a lot of physical characteristics are measured and discussed for a better identification of the raw sediment and this dehydrated sediment by addition the flocculation aid. The identified parameters are, for example, the initial water content, the density, the organic matter content, the grain size distribution, the liquid limit and plastic limit and geotechnical parameters. The environmental impacts of the used material were evaluated. The results obtained show that there is a slight change on the physical-chemical and geotechnical characteristics of sediment after dehydration by the addition of polymer. However, these sediments cannot be used in road construction.

Keywords: rive sediment, dehydration, flocculation aid or polymer, characteristics, treatments, valorisation, road construction

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1024 A Case Study on English Camp in UNISSA: An Approach towards Interactive Learning Outside the Classroom

Authors: Liza Mariah Hj. Azahari

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This paper will look at a case study on English Camp which was an activity coordinated at the Sultan Sharif Ali Islamic University in 2011. English Camp is a fun and motivation filled activity which brings students and teachers together outside of the classroom setting into a more diverse environment. It also enables teacher and students to gain proximate time together for a mutual purpose which is to explore the language in a more dynamic and relaxed way. First of all, the study will look into the background of English Camp, and how it was introduced and implemented from different contexts. Thereafter, it will explain the objectives of the English Camp coordinated at our university, UNISSA, and what types of activities were conducted. It will then evaluate the effectiveness of the camp as to what extent it managed to meet its motto, which was to foster dynamic interactive learning of English Language. To conclude, the paper presents a potential for further research on the topic as well as a guideline for educators who wish to coordinate the activity. Proposal for collaboration in this activity is further highlighted and encouraged within the paper for future implementation and endeavor.

Keywords: English camp, UNISSA, interactive learning, outside

Procedia PDF Downloads 551
1023 Development Planning in the System of the Islamic Republic of Iran in the Light of Development Laws: From Rationally Planning to Wisely Decision Making

Authors: Mohammad Sadeghi, Mahdieh Saniee

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Nowadays, development laws have become a major branch of engineering science, laws help humankind achieve his/her basic needs, and it is attracted to the attention of the nations. Therefore, lawyers have been invited to contemplate legislator's approaches respecting legislating countries' economic, social and cultural development plans and to observe the reliance of approaches on two elements of distributive justice and transitional justice in light of legal rationality. Legal rationality in development planning has encountered us with this question that whether a rational approach and existing models in the Iran development planning system approximate us to the goal of development laws respecting the rationalist approach and also regarding wisely decision-making model. The present study will investigate processes, approaches, and damages of development planning in the legislation of country development plans to answer this question.

Keywords: rationality, decision-making process, policymaking, development

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1022 Protection of Human Rights in Europe: The Parliamentary Dimension

Authors: Aleksandra Chiniaeva

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The following paper describes the activity of national and international parliamentary assemblies of the European region in protection and promotion of human rights. It may be said that parliamentarians have a “double mandate” — as members of the international assembly and of their respective national parliaments. In other words, parliamentarization at both international and national level provides a situation for parliamentarians, where they link people, national governments and international organizations. The paper is aimed towards demonstrating that the activity of the main international parliamentary assemblies of the European region have a real positive impact on the human rights situation in the European region. In addition, the paper describes the assemblies that include protection of human rights in their Agenda as one of the main subjects: the EP, the PACE, the OSCE PA and the IPA CIS. Co-operation activities such as joint election observation; participation in inter-parliamentary associations, such as the IPU; conclusion agreements allow assemblies to provide observation of human right situation in the states that are not members of the particular organization and as consequence make their impact broader.

Keywords: human rights, international parliamentary assembly, IPU, EP, PACE, OSCE, international election observation

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1021 Development of Disability Studies in Post-Transformational Central and East European Countries from the 80s until Present

Authors: Klaudia Muca

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Disability studies as an international movement are still developing, especially in the Central and East European young democratic countries. It is crucial to recognize in what manner this development might lead to create a sustainable social environment. Thanks to disability studies the process of introducing disability studies and its main ideas might become as effective as in the 90s in the USA or other Western countries. In the Central and East Europe lack of activism in favor of the disabled in the early stages of democratic transition (i.e. the 80s and 90s) caused misrepresentation of the disabled and their experience in present political and social sphere of life. People with disabilities were made to hold a minor position in society due to political changes that introduced in fact non-equal democracy. The results of this study indicate that activism in favor of people with disabilities and works of art created by the disabled are tools that influence present disability politics. That suggests that young European democracies need to modify their current political path in order to establish more equal social policies.

Keywords: democratic transformation, disability as minority, misrepresentation of experience, non-equal democracy, sustainability

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1020 Intuitive Decision Making When Facing Risks

Authors: Katharina Fellnhofer

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The more information and knowledge that technology provides, the more important are profoundly human skills like intuition, the skill of using nonconscious information. As our world becomes more complex, shaken by crises, and characterized by uncertainty, time pressure, ambiguity, and rapidly changing conditions, intuition is increasingly recognized as a key human asset. However, due to methodological limitations of sample size or time frame or a lack of real-world or cross-cultural scope, precisely how to measure intuition when facing risks on a nonconscious level remains unclear. In light of the measurement challenge related to intuition’s nonconscious nature, a technique is introduced to measure intuition via hidden images as nonconscious additional information to trigger intuition. This technique has been tested in a within-subject fully online design with 62,721 real-world investment decisions made by 657 subjects in Europe and the United States. Bayesian models highlight the technique’s potential to measure skill at using nonconscious information for conscious decision making. Over the long term, solving the mysteries of intuition and mastering its use could be of immense value in personal and organizational decision-making contexts.

Keywords: cognition, intuition, investment decisions, methodology

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1019 Transformation of Industrial Policy towards Industry 4.0 and Its Impact on Firms' Competition

Authors: Arūnas Burinskas

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Although Europe is on the threshold of a new industrial revolution called Industry 4.0, many believe that this will increase the flexibility of production, the mass adaptation of products to consumers and the speed of their service; it will also improve product quality and dramatically increase productivity. However, as expected, all the benefits of Industry 4.0 face many of the inevitable changes and challenges they pose. One of them is the inevitable transformation of current competition and business models. This article examines the possible results of competitive conversion from the classic Bertrand and Cournot models to qualitatively new competition based on innovation. Ability to deliver a new product quickly and the possibility to produce the individual design (through flexible and quickly configurable factories) by reducing equipment failures and increasing process automation and control is highly important. This study shows that the ongoing transformation of the competition model is changing the game. This, together with the creation of complex value networks, means huge investments that make it particularly difficult for small and medium-sized enterprises. In addition, the ongoing digitalization of data raises new concerns regarding legal obligations, intellectual property, and security.

Keywords: Bertrand and Cournot Competition, competition model, industry 4.0, industrial organisation, monopolistic competition

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1018 Impact of Brexit on the Structure of the European Insurance Market: A Solvency and Financial Condition Report Content Analysis of UK Insurance Companies

Authors: Antonia Müller, Svend Reuse

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The Brexit referendum in June 2016 led to different publications analysing potential consequences for European and British insurance companies under the European Passport. This study addresses a research gap, regarding the measures taken by insurance companies based in the United Kingdom and thus on structural changes to the European insurance market by an innovative structured Solvency and Financial Condition Report content analysis. In scope are all insurance companies based in the United Kingdom, that fall under the Solvency II supervisory regime. The results show that the majority of British Solvency II insurance companies in scope, conducting cross-border business to the European Union, have applied and reported measures to be able to continue operating this cross-border business after Brexit. In addition, the study shows that 34 new insurance companies based in the European Union were established as a result of Brexit, indicating structural changes to the European insurance market.

Keywords: brexit, europe, insurance market, solvency and financial condition repot, structural changes

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1017 National Health Insurance: An Exploratory Study of Patient Satisfaction

Authors: Nihayatul Munaa, Nyoman A. Damayanti

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This study seeks to understand what factors might influence a patient’s perception of health care under national health insurance in early implementation. In Indonesia, National Health Insurance was first implemented in 2014 and planned to achieve universal health coverage by 2019. However, the little understanding of this new policy lead to increase of complaint in hospital as a health care provider. This is a observational descriptive study with cross sectional design method. Data was collected through in-depth interview with 96 patient from Jemursari Islamic Hospital of Surabaya (Rumah Sakit Islam Jemursari Surabaya) who participate in National Health Insurance. Subject was selected by simple random sampling. The findings demonstrated that from five categories, 82,3% patient was satisfied in reliability aspect and 85,4% in assurance aspect, while in tangible, responsiveness and empathy aspect > 90% patient was satisfied. Meanwhile, in Indonesia, the minimum service standard of healthcare of patient satisfaction is 90%.

Keywords: patient’s satisfaction, national health insurance, hospital, complaint

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1016 Cultural Effects on the Performance of Non- Profit and For-Profit Microfinance Institutions

Authors: Patrick M. Stanton, William R. McCumber

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Using a large dataset of more than 2,400 individual microfinance institutions (MFIs) from 120 countries from 1999 to 2016, this study finds that nearly half of the international MFIs operate as for-profit institutions. Formal institutions (business regulatory environment, property rights, social protection, and a developed financial sector) impact the likelihood of MFIs being for-profit across countries. Cultural differences across countries (power distance, individualism, masculinity, and indulgence) seem to be a factor in the legal status of the MFI (non-profit or for-profit). MFIs in countries with stronger formal institutions, a greater degree of power distance, and a higher degree of collectivism experience better financial and social performance.

Keywords: Hofstede cultural dimensions, international finance, microfinance institutions, non-profite

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1015 Nearly Zero-Energy Regulation and Buildings Built with Prefabricated Technology: The Case of Hungary

Authors: András Horkai, Attila Talamon, Viktória Sugár

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There is an urgent need nowadays to reduce energy demand and the current level of greenhouse gas emission and use renewable energy sources increase in energy efficiency. On the other hand, the European Union (EU) countries are largely dependent on energy imports and are vulnerable to disruption in energy supply, which may, in turn, threaten the functioning of their current economic structure. Residential buildings represent a significant part of the energy consumption of the building stock. Only a small part of the building stock is exchanged every year, thus it is essential to increase the energy efficiency of the existing buildings. Present paper focuses on the buildings built with industrialized technology only, and their opportunities in the boundaries of nearly zero-energy regulation. Current paper shows the emergence of panel construction method, and past and present of the ‘panel’ problem in Hungary with a short outlook to Europe. The study shows as well as the possibilities for meeting the nearly zero and cost optimized requirements for residential buildings by analyzing the renovation scenarios of an existing residential typology.

Keywords: Budapest, energy consumption, industrialized technology, nearly zero-energy buildings

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1014 The Financial Impact of Covid 19 on the Hospitality Industry in New Zealand

Authors: Kay Fielden, Eelin Tan, Lan Nguyen

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In this research project, data was gathered at a Covid 19 Conference held in June 2021 from industry leaders who discussed the impact of the global pandemic on the status of the New Zealand hospitality industry. Panel discussions on financials, human resources, health and safety, and recovery were conducted. The themes explored for the finance panel were customer demographics, hospitality sectors, financial practices, government impact, and cost of compliance. The aim was to see how the hospitality industry has responded to the global pandemic and the steps that have been taken for the industry to recover or sustain their business. The main research question for this qualitative study is: What are the factors that have impacted on finance for the hospitality industry in New Zealand due to Covid 19? For financials, literature has been gathered to study global effects, and this is being compared with the data gathered from the discussion panel through the lens of resilience theory. Resilience theory applied to the hospitality industry suggests that the challenges imposed by Covid 19 have been the catalyst for government initiatives, technical innovation, engaging local communities, and boosting confidence. Transformation arising from these ground shifts have been a move towards sustainability, wellbeing, more awareness of climate change, and community engagement. Initial findings suggest that there has been a shift in customer base that has prompted regional accommodation providers to realign offers and to become more flexible to attract and maintain this realigned customer base. Dynamic pricing structures have been required to meet changing customer demographics. Flexible staffing arrangements include sharing staff between different accommodation providers, owners with multiple properties adopting different staffing arrangements, maintaining a good working relationship with the bank, and conserving cash. Uncertain times necessitate changing revenue strategies to cope with external factors. Financial support offered by the government has cushioned the financial downturn for many in the hospitality industry, and managed isolation and quarantine (MIQ) arrangements have offered immediate financial relief for those hotels involved. However, there is concern over the long-term effects. Compliance with mandated health and safety requirements has meant that the hospitality industry has streamlined its approach to meeting those requirements and has invested in customer relations to keep paying customers informed of the health measures in place. Initial findings from this study lie within the resilience theory framework and are consistent with findings from the literature.

Keywords: global pandemic, hospitality industry, new Zealand, resilience

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1013 Maternal Smoking and Risk of Childhood Overweight and Obesity: A Meta-Analysis

Authors: Martina Kanciruk, Jac J. W. Andrews, Tyrone Donnon

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The purpose of this study was to determine the significance of maternal smoking for the development of childhood overweight and/or obesity. Accordingly, a systematic literature review of English-language studies published from 1980 to 2012 using the following data bases: MEDLINE, PsychINFO, Cochrane Database of Systematic Reviews, and Dissertation Abstracts International was conducted. The following terms were used in the search: pregnancy, overweight, obesity, smoking, parents, childhood, risk factors. Eighteen studies of maternal smoking during pregnancy and obesity conducted in Europe, Asia, North America, and South America met the inclusion criteria. A meta-analysis of these studies indicated that maternal smoking during pregnancy is a significant risk factor for overweight and obesity; mothers who smoke during pregnancy are at a greater risk for developing obesity or overweight; the quantity of cigarettes consumed by the mother during pregnancy influenced the odds of offspring overweight and/or obesity. In addition, the results from moderator analyses suggest that part of the heterogeneity discovered between the studies can be explained by the region of world that the study occurred in and the age of the child at the time of weight assessment.

Keywords: childhood obesity, overweight, smoking, parents, risk factors

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1012 The Impact of a Weak Constitutional Review of Executive Actions in Implementing Women Rights in Saudi Arabia

Authors: Aysha Alshehri

Abstract:

This paper provides a literature review of the sources of women’s rights under the Saudi legal framework, taking account of the constitutional primacy of Sharia under the Saudi legal system as well as the state’s obligations under international law. Building on one of the central aims of the paper, it conducts an exploration of how Saudi Arabia already has or might be further able to more clearly delineate its position and reservations in the adoptions of international human rights agreements while preserving its core religious beliefs and societal practices in regard to women’s rights at the domestic level. In this regard, the paper will consider the apparent tension between certain jurisprudential and customary aspects on gender equality and contemporary discourses of women’s rights from within and outside the Muslim world. Particular attention will be devoted to the question of the causes behind the lack of direct application of women’s rights mentioned by international reports and any challenges this may bring in the contexts of Saudi Arabia’s evolving gender equality policies.

Keywords: Islamic Constitution, executive actions, gender equality, judicial review

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1011 Accounting as Addressed in the Qur’aan

Authors: Shahriar M. Saadullah, Abdul-Quddoos Abdul-Basith, Zaki K. Abushawish

Abstract:

As a part of academic research in Islamic Accounting it is important to know how the word Accounting is discussed in the Qur’aan. This paper identifies and analyzes the word Accounting in the Qur’aan, which is significant to know and understand. The paper uses a methodology of identifying the root word of Accounting Hasaba (حسب) in the Qur’aan with the help of Islam 360 software and analyzes the use of the relevant words derived from the root word. Then the paper attempts to connect the findings to the contemporary Accounting issues. The paper finds that the root word of Accounting Hasaba (حسب) appears in the Qur’aan 109 times but it is only used in the sense Account, Accountable, or Accounting 45 times. These words appear in 44 different verses in the Qur’aan, appearing twice in one of the verses. The paper divides these verses into 8 different themes namely, Day of Accounting, without any Accounting, Accounting of Time, Self-Accounting, Swift in Accounting, Accounting is only with God, Awareness and the Good Accounting, and Heedlessness and the Bad Accounting. The way the words Account, Accounting, and Accountable is discussed in the Qur’aan links to the contemporary accounting issues including Ethics, Agency Theory, and Internal Control. The links discovered in the paper clearly shows the timeless nature of the message of the Qur’aan.

Keywords: accounting, contemporary accounting issues, Qur'aan, root word of accounting hasaba

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1010 Fu Hao From the East: Between Chinese Traditions and Western Pop Cultures

Authors: Yi Meng, YunGao

Abstract:

Having been studied and worked in North America and Europe, we, two Chinese art educators, have been enormously influenced by eastern and western cultures. Thus, we aim to enhance students’ learning experiences by exploring and amalgamating both cultures for art creating. This text draws on our action research study of students’ visual literacy practices in a foundation sketching course in a major Chinese university, exploring art forms by cross-utilizing various cultural aspects. Instead of relying on the predominant western observational drawing skills in our classroom, we taught students about ancient Chinese art in the provincial museum, using Fu Hao owl-shaped vessel, a Shang Dynasty national treasure, as the final sketch project of this course. We took up multimodal literacy, which emphasized students’ critical use of creativity to exploit the semiotic potentials of communicative modes to address diverse cultural issues through their multimodal design. We used the Hong Kong-based artist Tik Ka’s artworks to demonstrate the cultural amalgamation of Chinese traditions and western pop cultures. Collectively, these approaches create a dialogical space for students to experience, analyze, and negotiate with complex modes and potentially transform their understanding of both cultures by redesigning Fu Hao.

Keywords: Chinese traditions, western pop cultures, Fu Hao, arts education, design sketch

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1009 State of Play for the World’s Largest Greenhouse Gas Emitters

Authors: Olivia Meeschaert

Abstract:

The Conference of the Parties (COP) refers to the countries that signed on to the United Nations Framework Convention on Climate Change. This annual conference provides a platform for countries to voice their major climate concerns, negotiate on a number of global issues, and come to agreements with the world’s largest emitters on how to make incremental changes that will achieve global climate goals. Historically, the outcome of COP includes major climate pledges and international agreements. COP27 will take place in Egypt at the beginning of November 2022. The 197 parties will come together to develop solutions to the dire consequences of climate change that many people around the world are already experiencing. The war in Ukraine will require a different tone from last year’s COP, particularly given that major impacts of the war are being felt throughout Europe and have had a detrimental effect on the region’s progress in achieving the benchmarks set in their climate pledges. Last year’s COP opened with many climate advocates feeling optimistic but the commitments made in Glasgow have so far remained empty promises, and the main contributors to climate change – China, the European Union, and the United States of America – have not moved fast enough.

Keywords: environment, law and policy, climate change, greenhouse gas, conference of the parties, China, United States, European Union

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