Search results for: and medium enterprises financial institutions

Authors: Obose Angela Oriazowanlan

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The role of entrepreneurship in preventing poverty and mitigating other post-retirement challenges has been acknowledged to be crucial for effective post-retirement life management, but financial constraints could constitute a bane to pre-retirees’ entrepreneurial intentions. Therefore, the study determined the financial knowledge that could spur their intentions and readiness for a business start that could enable them to surmount post-retirement life challenges. Two research questions guided the study. The descriptive survey research design was adopted and the population comprised all the pre-retirees in universities in Edo State. 250 respondents were randomly selected using the simple random sampling technique from three purposive selected universities. Primary data were gathered through the use of a structured questionnaire, which was validated and tested to have a reliability coefficient value of 0.84. The descriptive statistics of mean and standard deviation were used to answer the research questions and test the respondents’ homogeneity. The findings revealed, among others, that the respondents perceived the benefits of entrepreneurship-business startups to ensure their effective post-retirement life management but intended to rely totally on their retirement savings benefits with the Contributory Pension Scheme (CPS) for business startups. Based on the findings, it was recommended, among others, that pre-retirees should make contingency savings plans and that the employers and government should provide them with financial education in order to acquaint them with relevant financial knowledge to access other forms of business financing such as loans, bank overdraft, angel investors, venture capital and government grants among others prior to final disengagement.

Keywords: financial knowledge, entrepreneurial intentions, availability of business funds, business investment and fulfilled post-retirement living.

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Authors: Melasurej C. Francisco, Sophia D. Rusit

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Old age is a record of one’s own life; this is the crucial phase for most. However, there are individuals who believe that old people retain self-efficacy and self-worth throughout their existence. Geriatric institutions focus on the health of elderly, in which they have been supported with medicines and therapies by clinician thus, indicating that these may suffice physical, emotional, and mental health of the elderly. This study focuses on (1) Describing the level or degree of self-efficacy; (2) Recognizing the extent of self-worth; (3) Determining the significant relationship between self-efficacy and self-worth. It is a mixed method design. A combination of correlational research and in-depth interview. Purposive sampling technique was used to select participants, considering that this assay focused on elderly in geriatric institutions, it follows that respondents and participants are at least sixty years of age and must be living inside the institution. 121 senior citizens took part in this study. Scores from both General Self-Efficacy Scale (GSE) and Rosenberg Self-Esteem Scale (RSES) showed varying levels of self-efficacy and self-worth. SE had μ=28.099, σ=6.6262, σ²=43.9067 while; SW had μ=14.9669, σ=5.3789, σ²28.9322 which denotes that rₒbₜ (121)=0.3164 is higher than rcᵢₜ which is 0.150. Although this exhibits the positive moderate correlation between SE and SW, the relationship between variables is weak. Likewise, the pᵥₐₗᵤₑ (pᵥₐₗᵤₑ=0.000406) is lower than the significance level alpha=0.01, thus, rejecting the null hypothesis, and accepting the alternative hypothesis.

Keywords: elderly, geriatric, self-efficacy, self-worth

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Authors: Manar Aslan, Ayse Yildiz

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The study was conducted descriptively to assess their hospital institutionalization of upper and mid-level managers of 18 hospitals affiliated to Public Hospitals Association. In its simplest form institutionalization is whatever the subject matter, is dominated by the rules of articulated and determined behavior in all kinds of business, interaction, and communication. Hospital service is a type of service carried out chained together. It should not be forgotten that this kind of services is carried out without barrier, and who and what to do with definite lines, hospital management is a process, and this process can be achieved through institutionalization. With the establishment of the Public Hospitals Unions in Turkey, all the state hospitals in the provinces have been gathered under this roof. One of the goals is to establish control mechanisms to ensure that hospitals reach pre-determined financial, medical, and administrative standards. In this way, the preparations for the institutionalization of units and hospital enterprises will be completed. The data of the study were collected by institutionalization management attitude scale (cronbach alpha: 0.98) of composed of 5 sub-dimensions and 52 questions in 18 hospitals’ managers (N=310) in the largest province in Turkey. The results of the study revealed that the total score taken by managers at the institutionalization scale was 200.80, and this was close to the maximum score. In addition, it was determined that the difference between the mean score of the scale and its sub-dimensions with the gender, the hospitals, and the management position.

Keywords: institutionalization, hospital, manager, evaluation

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Authors: Adedoyin Opeyemi Osokoya

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The study assesses the influence of social media on perceived learning outcome of agricultural science students in tertiary institutions in Oyo state, Nigeria. The four-stage sampling procedure was used to select participants. All students in the seven tertiary institutions that offer agriculture science as a course of study in Oyo State was the population. A university, a college of agriculture and a college of education were sampled, and a department from each was randomly selected. Twenty percent of the students’ population in the respective selected department gave a sample size of 165. Questionnaire was used to collect information on respondents’ personal characteristics and information related to access to social media. Data were analysed using descriptive statistics, chi-square, correlation, and multiple regression at the 0.05 confidence level. Age and household size were 21.13 ± 2.64 years and 6 ± 2.1 persons respectively. All respondents had access to social media, majority (86.1%) owned Android phone, 57.6% and 52.7% use social media for course work and entertainment respectively, while the commonly visited sites were WhatsApp, Facebook, Google, Opera mini. Over half (53.9%) had an unfavourable attitude towards the use of social media for learning; benefits of the use of social media for learning was high (56.4%). Removal of information barrier created by distance (x̄=1.58) was the most derived benefit, while inadequate power supply (x̄=2.36), was the most severe constraints. Age (β=0.23), sex (β=0.37), ownership of Android phone (β=-1.29), attitude (β=0.37), constraints (β =-0.26) and use of social media (β=0.23) were significant predictors of influence on perceived learning outcomes.

Keywords: use of social media, agricultural science students, undergraduates of tertiary institutions, Oyo State of Nigeria

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Authors: Hamid Maidat, Khedidja Bouhadef, Djamel Eddine Ameziani, Azzedine Abdedou

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This work consists of a numerical simulation of convective heat transfer in a vertical plane channel filled with a heat generating porous medium, in the absence of local thermal equilibrium. The walls are maintained to a constant temperature and the inlet velocity is uniform. The dynamic range is described by the Darcy-Brinkman model and the thermal field by two energy equations model. A dimensionless formulation is developed for performing a parametric study based on certain dimensionless groups such as, the Biot interstitial number, the thermal conductivity ratio and the volumetric heat generation. The governing equations are solved using the finite volume method, gave rise to a multitude of results concerning in particular the thermal field in the porous channel and the existence or not of the local thermal equilibrium.

Keywords: local thermal non equilibrium model, mixed convection, porous medium, power generation

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Authors: Michael Alsop, Hannah Heitz, Prathiba Natesan Batley, Marion Hambrick, Jason Immekus

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The impacts of cultural engagement on individuals’ health and well-being have been well documented. The purposes of this study were to create an instrument to measure wellbeing constructs, including cultural wellbeing, and explore the relationships between cultural wellbeing and other wellbeing constructs (e.g., emotional, social, physical, spiritual). A sample of 358 participants attending concerts performed by a civic orchestra in the southeastern United States completed a questionnaire designed to measure eight wellbeing constructs. Split-half exploratory, confirmatory factor analyses resulted in the retention of four wellbeing constructs: general, emotional, financial, and cultural. Structural equation modeling showed statistically significant relationships between cultural wellbeing and other wellbeing constructs. In addition to the indirect effect of financial wellbeing on emotional and general wellbeing through cultural wellbeing, there were also direct statistically significant relationships (i.e., moderator). This highlights the importance of removing financial barriers to cultural engagement and the relationship between cultural wellbeing on emotional and general wellbeing. Additionally, the retained cultural wellbeing items focused primarily on community features, indicating the value of community-based cultural engagement opportunities.

Keywords: cultural wellbeing, cultural engagement, factor analysis, structural equation modeling

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Authors: Li Sheng

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Based on an extended post-Keynesian model, we find that the association between the savings rate and income inequality is negative if savers’ funds are borrowed by spending households for consumption but positive if savings are channeled to investing firms for production. A negative association, such as the one that exists in the U.S., hinges on an income illusion created by an asset bubble and cheap credit. Thus, financial globalization leads consumption and income inequality to diverge, and the divergence is more extreme if lower-income groups have higher debt ratios. A positive association, such as the one that exists in China, relates to liquidity constraints faced by consumers such that consumption inequality closely follows income inequality. Our results imply that income inequality must be reduced in both types of countries to increase savings in deficit economies with negative associations and to reduce savings in surplus economies with positive associations.

Keywords: savings rate, income inequality, financial globalization, global imbalances

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Authors: Tadesse Abera

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This study aimed to investigate the contribution of self-advocacy and engagement in the inclusion of SWDs in HEIs. A convergent parallel mixed methods design was employed. This article reports the quantitative strand. A total of 246 SWDs were selected through stratified proportionate random sampling technique from five public HEIs in Ethiopia. Data were collected through Self-advocacy questionnaire, student engagement scale, and college student experience questionnaire and analyzed through frequency, percentage, mean, standard deviation, correlation, one sample t-test and multiple regression. Both self-advocacy and engagement were found to have a predictive power on inclusion of respondents in the HEIs, where engagement was found to be more predictor. From the components of self-advocacy, knowledge of self and leadership and from engagement dimensions sense of belonging, cognitive, and valuing in their respective orders were found to have a stronger predictive power on the inclusion of respondents in the institutions. Based on the findings it was concluded that, if students with disabilities work hard to be self-determined, strive for realizing social justice, exert quality effort and seek active involvement, their inclusion in the institutions would be ensured.

Keywords: self-advocacy, engagement, inclusion, students with disabilities, higher education institution

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Authors: Yu-Chen Wei, Dan-Leng Wang

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This study examines whether the reputation from media press affect the financial performance and market abnormal returns around the announcement of corporate social responsibility (CSR) award in the Taiwan Stock Market. The differences between this study and prior literatures are that the media reputation of media coverage and net optimism are constructed by using content analyses. The empirical results show the corporation which won CSR awards could promote financial performance next year. The media coverage and net optimism related to CSR winner are higher than the non-CSR companies prior and after the CSR award is announced, and the differences are significant, but the difference would decrease when the day was closing to announcement. We propose that non-CSR companies may try to manipulate media press to increase the coverage and positive image received by investors compared to the CSR winners. The cumulative real returns and abnormal returns of CSR winners did not significantly higher than the non-CSR samples however the leading returns of CSR winners would higher after the award announcement two months. The comparisons of performances between CSR and non-CSR companies could be the consideration of portfolio management for mutual funds and investors.

Keywords: corporate social responsibility, financial performance, abnormal returns, media, reputation management

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Authors: Andrew John Zeller, Artjoms Formulevics

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Banking and financial services are rapidly transitioning from being monolithic structures focusing merely on their own financial offerings to becoming integrated players in multiple customer journeys and supply chains. Banks themselves are refocusing on being liquidity providers and underwriters in these networks, while the general concept of ‘embeddedness’ builds on the market readily available API (Application Programming Interface) architectures to flexibly deliver services to various requestors, i.e., online retailers who need finance and insurance products to better serve their customers, respectively. With this new flexibility come new requirements for enhanced cybersecurity. API structures are more decentralized and inherently prone to change. Unfortunately, this has not been comprehensively addressed in the literature. This paper tries to fill this gap by looking at security approaches and technologies relevant to API architectures found in embedded finance. After presenting the research methodology applied and introducing the major bodies of knowledge involved, the paper will discuss six dominating technology trends shaping high-level financial services architectures. Subsequently, embedded finance and the respective usage of API strategies will be described. Building on this, security considerations for APIs in financial and insurance services will be elaborated on before concluding with some ideas for possible further research.

Keywords: embedded finance, embedded banking strategy, cybersecurity, API management, data security, cybersecurity, IT management

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Authors: Kari M. Solomon

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Companies with a culture accepting of change management and performance excellence are better suited to determine their sustainability performance and impacts. A mature corporate culture supportive of performance excellence is better positioned to integrate sustainability management tools into their standard business strategy. Companies use various sustainability management tools and reporting standards to communicate levels of sustainability performance to their stakeholders, more often focusing on shareholders and investors. A research gap remains in understanding how companies adapt business excellence models to define corporate sustainability performance. A content analysis of medium-sized enterprises using corporate sustainability reports and business excellence models reveals the challenges and opportunities of reporting sustainability performance in the context of organizational excellence. The outcomes of this content analysis contribute knowledge on the resources needed for companies to build sustainability performance management systems integral to existing management systems. The findings of this research inform academic research areas of corporate sustainability performance, the business community contributing to sustainable development initiatives, and integrating sustainable development issues into business excellence models. There are potential research links between sustainability performance management and the alignment of the United Nations Sustainable Development Goals (UN SDGs) when organizations promote a culture of performance or business excellence.

Keywords: business excellence, corporate sustainability, performance excellence, sustainability performance

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Authors: Pavel Adámek

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This study examines perception of environmental approach in small and medium-sized enterprises (SMEs) – the process by which firms integrate environmental concern into business. Based on a review of the literature, the paper synthesizes focus on environmental issues with the reflection in a case study in the Czech Republic. Two themes of corporate environmentalism are discussed – corporate environmental orientation and corporate stances toward environmental concerns. It provides theoretical material on greening organizational culture that is helpful in understanding the response of contemporary business to environmental problems. We integrate theoretical predictions with empirical findings confronted with reality. Scales to measure these themes are tested in a survey of managers in 229 Czech firms. We used the process of in-depth questioning. The research question was derived and answered in the context of the corresponding literature and conducted research. A case study showed us that environmental approach is variety different (depending on the size of the firm) in SMEs sector. The results of the empirical mapping demonstrate Czech company’s approach to environment and define the problem areas and pinpoint the main limitation in the expansion of environmental aspects. We contribute to the debate for recognition of the particular role of environmental issues in business reality.

Keywords: corporate environmentalism, Czech Republic, empirical mapping, environmental performance

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Authors: Xiaoqiang Fu, Baihao Li

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In 1895, the failure of Sino-Japanese prompted the trend of comprehensive and systematic study of western pattern in China. In urban planning and construction, urban reform movement sprang up slowly, which aimed at renovating and reconstructing the traditional cities into modern cities similar to the concessions. During the movement, Chinese traditional city initiated a process of modern urban planning for its modernization. Meanwhile, the traditional planning morphology and system started to disintegrate, on the contrary, western form and technology had become the paradigm. Therefore, the improvement of existing cities had become the prototype of urban planning of early modern China. Currently, researches of the movement mainly concentrate on large cities, concessions, railway hub cities and some special cities resembling those. However, the systematic research about the large number of traditional small and medium-sized cities is still blank, up to now. This paper takes the improvement constructions of small and medium-sized cities in Southern region of Jiangsu Province as the research object. First of all, the criteria of small and medium-sized cities are based on the administrative levels of general office and cities at the county level. Secondly, the suitability of taking the Southern Jiangsu as the research object. The southern area of Jiangsu province called Southern Jiangsu for short, was the most economically developed region in Jiangsu, and also one of the most economically developed and the highest urbanization regions in China. As the most developed agricultural areas in ancient China, Southern Jiangsu formed a large number of traditional small and medium-sized cities. In early modern times, with the help of the Shanghai economic radiation, geographical advantage and powerful economic foundation, Southern Jiangsu became an important birthplace of Chinese national industry. Furthermore, the strong business atmosphere promoted the widespread urban improvement practices, which were incomparable of other regions. Meanwhile, the demonstration of Shanghai, Zhenjiang, Suzhou and other port cities became the improvement pattern of small and medium-sized city in Southern Jiangsu. This paper analyzes the reform movement of the small and medium-sized cities in Southern Jiangsu (1895-1927), including the subjects, objects, laws, technologies and the influence factors of politic and society, etc. At last, this paper reveals the formation mechanism and characteristics of urban improvement movement in early modern China. According to the paper, the improvement of small-medium city was a kind of gestation of the local city planning culture in early modern China，with a fusion of introduction and endophytism.

Keywords: early modern China, improvement of small-medium city, southern region of Jiangsu province, urban planning history of China

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Authors: Shaheeb Abdul Azeez, Siong-Choy Chong

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Background: Talent retention is increasingly becoming a major challenge for many industries due to the high turnover rate. Public higher learning institutions in the Maldives have a similar situation with the turnover of their employees'. This paper is to identify whether Human Resource Management (HRM) practices have any impact on employee retention in public higher learning institutions in the Maldives. Purpose: This paper aims to identify the influence of HRM practices on employee retention in public higher learning institutions in the Maldives. A total of 15 variables used in this study; 11 HRM practices as independent variables (leadership, rewards, salary, employee participation, compensation, training and development, career development, recognition, appraisal system and supervisor support); job satisfaction and motivation as mediating variables; demographic profile as moderating variable and employee retention as dependent variable. Design/Methodology/Approach: A structured self-administered questionnaire was used for data collection. A total of 300 respondents were selected as the study sample, representing the academic and administrative from public higher learning institutions using a stratified random sampling method. AMOS was used to test the hypotheses constructed. Findings: The results suggest that there is no direct effect between the independent variable and dependent variable. Also, the study concludes that no moderate effects of demographic profile between independent and dependent variables. However, the mediating effects of job satisfaction and motivation in the relationship between HRM practices and employee retention were significant. Salary had a significant influence on job satisfaction, whilst both compensation and recognition have significant influence on motivation. Job satisfaction and motivation were also found to significantly influence employee retention. Research Limitations: The study consists of many variables more time consuming for the respondents to answer the questionnaire. The study is focussed only on public higher learning institutions in the Maldives due to no participation from the private sector higher learning institutions. Therefore, the researcher is unable to identify the actual situation of the higher learning industry in the Maldives. Originality/Value: To our best knowledge, no study has been conducted using the same framework throughout the world. This study is the initial study conducted in the Maldives in this study area and can be used as a baseline for future researches. But there are few types of research conducted on the same subject throughout the world. Some of them concluded with positive findings while others with negative findings. Also, they have used 4 to 7 HRM practices as their study framework.

Keywords: human resource management practices, employee retention, motivation, job satisfaction

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Authors: Revaz Gvelesiani

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The problem of compliance between the state economic policy and entrepreneurial policy of businesses is primarily manifested in the contradictions related to the congruence between entrepreneurship development and self-development strategies. Among various types (financial, monetary, social, etc.) of the state economic policy aiming at the development of entrepreneurship, economic order policy is of special importance. Its goal is to set the framework for both public and private economic activities and achieve coherence between the societal value system and the formation of the economic order framework. Economic order policy, in its turn, involves intrinsic contradiction between the social and the competitive order. Competitive order is oriented on the principle of success, while social order _ on the criteria of need satisfaction, which contradicts, at least partly, to the principles of success. Thus within the economic order policy, on the one hand, the state makes efforts to form social order and expand its frontiers, while, on the other hand, market is determined to establish functioning competitive order and ensure its realization. Locating the adequate spaces for and setting the rational border between the state (social order) and the private (competitive order) activities, represents the phenomenon of the decisive importance from the entrepreneurship development strategy standpoint. In the countries where the above mentioned spaces and borders are “set” correctly, entrepreneurship agents (small, medium-sized and large businesses) achieve great success by means of seizing the respective segments and maintaining the leading positions in the internal, the European and the world markets for a long time. As for the entrepreneurship self-development strategy, above all, it involves: •market identification; •interactions with consumers; •continuous innovations; •competition strategy; •relationships with partners; •new management philosophy, etc. The analysis of compliance between the entrepreneurship strategy and entrepreneurship culture should be the reference point for any kind of internationalization in order to avoid shocks of cultural nature and the economic backwardness. Stabilization can be achieved only when the employee actions reflect the existing culture and the new contents of culture (targeted culture) is turned into the implicit consciousness of the personnel. The future leaders should learn how to manage different cultures. Entrepreneurship can be managed successfully if its strategy and culture are coherent. However, not rarely enterprises (organizations) show various forms of violation of both personal and team actions. If personal and team non-observances appear as the form of influence upon the culture, it will lead to global destruction of the system and structure. This is the entrepreneurship culture pathology that complicates to achieve compliance between the entrepreneurship strategy and entrepreneurship culture. Thus, the intrinsic contradictions of entrepreneurship development and self-development strategies complicate the task of reaching compliance between the state economic policy and the company entrepreneurship policy: on the one hand, there is a contradiction between the social and the competitive order within economic order policy and on the other hand, the contradiction exists between entrepreneurship strategy and entrepreneurship culture within entrepreneurship policy.

Keywords: economic order policy, entrepreneurship, development contradictions, self-development contradictions

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Authors: Yolanda Ramirez, Angel Tejada, Agustin Baidez

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In recent years, the intellectual capital reporting in higher education institutions has been acquiring progressive importance worldwide. Intellectual capital approaches becomes critical at universities, mainly due to the fact that knowledge is the main output as well as input in these institutions. Universities produce knowledge, either through scientific and technical research (the results of investigation, publications, etc.) or through teaching (students trained and productive relationships with their stakeholders). The purpose of the present paper is to identify the intangible elements about which university stakeholders demand most information. The results of a study done at Spanish universities are used to see which groups of universities have stakeholders who are more proactive to the disclosure of intellectual capital.

Keywords: intellectual capital, universities, Spain, cluster analysis

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Authors: Yu-Sheng Lin, Sheng-Teng Huang

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In recent years, the issue of corporate social responsibility has become an enthusiastic discussion and hottest issue around the world. To make the enterprises be sustainable management and sustainable development, more and more enterprises realize that fulfill its corporate social responsibility is the good choice. It is an essential, important issue that the leader needs know how to lead the staff in balance benefit, also emphasize on economic, social and environmental aspects to impact the company, then enhance the consensus. The leader needs to improve cohesion of personnel, and implement the corporate social responsibility in staff behavior, in order to show a performance in the effort of corporate social responsibility of enterprises. The previous literature mostly is committed to comparison of corporate social responsibility in the industry and service industry, regarding to literature of shipping companies were relatively rare. This paper aims to take the domestic and foreign shipping companies of corporate social responsibility reports as the data analysis, and refer to the international convention (GRI) such as association and organization of CSR standard values. Overall comparison with shipping companies of CSR reports, annual reports and other public information, and taking Taiwan shipping companies as the target, respectively, with the international conventions and the world's top ten leading shipping companies to do the comparison and analysis. Shipping companies in Taiwan are bound to the standard that set by the international convention for the first goal diligently and following step is contend with the world's top ten leading shipping companies. There are 3 ~ 5 experts to be involved in interview after the result is completed. They will indicate the superiority and inferiority then provide the opinion, recommendation in the needed action. Through this study, we can explore the importance of corporate social responsibility report for shipping companies, and also provide the clear orientation to external providers to improve corporate social responsibility. In addition, it can provide the academic research and business experts as a reference; finally, serving shipping companies to complete another contribution.

Keywords: Corporate social responsibility (CSR), CSR reports, statistical methods, expert interview method

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Authors: C. E. Ogbanje, S. A. N. D. Chidebelu, N. J. Nweze

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The study evaluated off-farm work and cost efficiency in staple food production among small-scale farmers in North Central Nigeria. Multistage sampling technique was used to select 360 respondents (participants and non-participants in off-farm work). Primary data obtained were analysed using stochastic cost frontier and test of means’ difference. Capital input was lower for participants (N2,596.58) than non-participants (N11,099.14). Gamma (γ) was statistically significant. Farm size significantly (p<0.01) increased cost outlay for participants and non-participants. Average input prices of enterprises one and two significantly (p<0.01) increased cost. Sex, household size, credit obtained, formal education, farming experience, and farm income significantly (p<0.05) reduced cost inefficiency for non-participants. Average cost efficiency was 11%. Farm capital was wasted. Participants’ substitution of capital for labour did not put them at a disadvantage. Extension agents should encourage farmers to obtain financial relief from off-farm work but not to the extent of endangering farm cost efficiency.

Keywords: cost efficiency, mean difference, North Central Nigeria, off-farm work, participants and non-participants, small-scale farmers

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Authors: Montoya C.A., Erina J., Erina I.

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The purpose of this research is to assess the performance and impact of CSR on business in the banking sector in Australia by applying the financial indicators of 20 ASX banks for the period from 2016-2017. The authors carried out CSR assessment in several stages of research: 1) gathering the nonfinancial and financial indicators of 20 ASX listed banks (available were only 16) from the annual reports of Australian banks for 2016 and 2017; 2) calculation of bank performance indicators using such financial indicators as return on assets (ROA), return on equity (ROE), efficiency ratio and net interest margin; 3) analysis of financial data using cross-sectional regression and answers to the research questions. Based on the obtained research results, the authors obtained answers to the initially raised research questions and came to a conclusion that Q1 - Insignificant positive coefficient result - slight positive relationship between CSR disclosure and business performance 2016; Q2 - Insignificant negative coefficient result - slight negative relationship between CSR disclosure and business performance 2017; Q3 - Insignificant positive coefficient result - slight positive relationship between CSR disclosure and business performance.

Keywords: Australia, banks, business performance, CSR

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Authors: Fahad Ahmed Qureshi

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Is it essential for a Muslim businessperson and employees of Islamic financial institutions not only in Islamic Banks to perform his/her actions ethically in a universally, competing habitat? The answer is an emphatic NO! in Islam, ethics conduct all departments of life. The orders for eternal success or falah in Islam are the same for all Muslims–whether in managing their business activities or in carrying out their routine affairs. Without designating any circumstantial ambience, Allah specify people who achieve success as those who are “inviting to all that is good (Khayr), enjoining what is right (Ma'ruf) and forbidding what is wrong (Munkar).” Within a business context, however, what sole axioms of regimen should a company follow? What is a Muslim businessperson’s encumbrance to internal and external stakeholders? Although an organization’s top executives may display sterling ethical behavior, how can middle- and lower-level managers be enthusiastic to perform in a correspondingly ethical manner? What are some protocols that would clinch persistent ethical behavior in a Muslim business?

Keywords: business, ethics, finance, Islam

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Authors: Noman Shabbir, Roheel Nawaz, Muhammad N. Iqbal, Junaid Zafar

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This paper focuses on the performance evaluation of routing protocols in WLAN based Wireless Sensor Networks (WSNs). A comparative analysis of routing protocols such as Ad-hoc On-demand Distance Vector Routing System (AODV), Dynamic Source Routing (DSR) and Optimized Link State Routing (OLSR) is been made against different network parameters like network load, end to end delay and throughput in small, medium and large-scale sensor network scenarios to identify the best performing protocol. Simulation results indicate that OLSR gives minimum network load in all three scenarios while AODV gives the best throughput in small scale network but in medium and large scale networks, DSR is better. In terms of delay, OLSR is more efficient in small and medium scale network while AODV is slightly better in large networks.

Keywords: WLAN, WSN, AODV, DSR, OLSR

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Authors: Khaled M. Nabil

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This paper introduces the Nested Vortexes conception of the universe structure and interprets all the physical phenomena according this conception. The paper first reviews recent physics theories, either in microscopic scale or macroscopic scale, to collect evidence that the space is not empty. But, these theories describe the property of the space medium without determining its structure. Determining the structure of space medium is essential to understand the mechanism that leads to its properties. Without determining the space medium structure, many phenomena; such as electric and magnetic fields, gravity, or wave-particle duality remain uninterpreted. Thus, this paper introduces a conception about the structure of the universe. It assumes that the universe is a medium of ultra-tiny homogeneous particles which are still undiscovered. Like any medium with certain movements, possibly because of a great asymmetric explosion, vortexes have occurred. A vortex condenses the ultra-tiny particles in its center forming a bigger particle, the bigger particles, in turn, could be trapped in a bigger vortex and condense in its center forming a much bigger particle and so on. This conception describes galaxies, stars, protons as particles at different levels. Existing of the particle’s vortexes make the consistency of the speed of light postulate is not true. This conception shows that the vortex motion dynamic agrees with the motion of all the universe particles at any level. An experiment has been carried out to detect the orbiting effect of aggregated vortexes of aligned atoms of a permanent magnet. Based on the described particle’s structure, the gravity force of a particle and attraction between particles as well as charge, electric and magnetic fields and quantum mechanics characteristics are interpreted. All augmented physics phenomena are solved.

Keywords: astrophysics, cosmology, particles’ structure model, particles’ forces

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Authors: Rukhsana Shaheen, Tahira Ifraq

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Interest based transactions led the advent of Islamic banking. In order to provide an alternative to Interest based banking, financial transactions found in classical books of fiqh were employed. Musharakah, Mudarabah, Murabahah Salam, Ijara, and some other modes were adopted. These modes were modified so that they can be adopted for banking and satisfy the needs of customers. Since the inception of Islamic banking, these modes are being used and with the passage of time, are being molded and experimented with to cater different kinds of customers and requirements. Human efforts cannot be errorless. These modes too bear legal defects which need an in-depth scrutiny and refinement. The aim of this paper is to dig the basis and rulings of these modes in classical books of fiqh and analyze its modification and adoption in Islamic banking and the legal defects that these modes are bearing. Paper will prove itself fruitful by providing remedies for the legal defects.

Keywords: financial instruments, legal defects, remedies, Islamic banking

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Authors: Sadık Ata, Kevser Dincer

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In this study, the performance of proton exchange membrane (PEM) fuel cell was experimentally investigated and modelled with Rule-Based Mamdani-Type Fuzzy (RBMTF) modelling technique. Coating on the anode side of the PEM fuel cell was accomplished with the spin method by using Yttria-stabilized zirconia (YSZ). Input-output parameters were described by RBMTF if-then rules. Numerical parameters of input and output variables were fuzzificated as linguistic variables: Very Very Low (L1), Very Low (L2), Low (L3), Negative Medium (L4), Medium (L5), Positive Medium (L6),High (L7), Very High (L8) and Very Very High (L9) linguistic classes. The comparison between experimental data and RBMTF is done by using statistical methods like absolute fraction of variance (R2). The actual values and RBMTF results indicated that RBMTF can be successfully used for the analysis of performance PEM fuel cell.

Keywords: proton exchange membrane (PEM), fuel cell, rule-based mamdani-type fuzzy (RMBTF) modelling, Yttria-stabilized zirconia (YSZ)

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Authors: Quangyen Tran, YeZhuang Tian, Chengfeng Li

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Psychological contract violations may lead to damaging an organization through losing its potential employees; it is a very significant concept in understanding the employment relationships. The authors selected contents of psychological contract violation scale based on the nine areas of violation most relevant to managerial samples (High pay, training, job security, career development, pay based on performance, promotion, feedback, expertise and quality of co-workers and support with personal problems), using regression analysis, the degree of psychological contract violations was measured by an adaptation of a multiplicative scale with Cronbach’s alpha as a measure of reliability. Through the regression analysis, psychological contract violations was found have a positive impact on employees’ job satisfaction, the frequency of psychological contract violations was more intense among male employees particularly in terms of training, job security and pay based on performance. Job dissatisfaction will lead to a lowering of employee commitment in the job, enterprises in Hanoi, Vietnam should therefore offer lucrative jobs in terms of salary and other emoluments to their employees.

Keywords: psychological contract, psychological contract violation, job satisfaction, subordinate employees, employers’ obligation

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Authors: Imam Uddin, Imtiaz Ahmed Memon

Abstract:

This paper analyzes the ideological contextuality of market oriented strategy language used by Industry leaders to envision the future of Islamic financial Institutions (IFIs) in the light of Wittgenstein language-games and Foucault’s power-discourse framework. The analysis infers that the explicit market orientation of strategy language and modern knowledge of finance now defines various concepts related of Islamic finance, let alone Islamic finance theory itself. Theorizing and practicing Islamic finance therefore under the dominant influence of modern strategy discourse and modern knowledge of finance has significant implications for developing an ethical and spiritual orientation of Islamic banks. The concerned academia and scholarship therefore need to review such trends and work around the possible degradation to the public image of IFIs and resulting disappointments of religiously inspired customers.

Keywords: Islamic finance discourse, strategy discourse, language games, strategic intent, productive misunderstanding

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Authors: Chia-Chi Cheng

Abstract:

After the implementation of “the internet plus,” several puzzles emerge as below: why does China impose more regulation and laws on economic development on the Internet? Why does China urge the importance of manufacturing industry? Why does China’s local government passively implement the policy imposed by the central government? What kind of factors can influence China’s local government’s economic preference? In the framework of neo-institutionalism, this research considers China’s local government as changing agents to analyze its preferences and behavior. In general, the interests urged by the local government will decide its preference and behaviors. They will change its counterpart to cooperate if the change will bring more benefits. Thus, they will change its preference and behavior while the external environment alters. While the local government has the same definition on political activity and economic interest, they will prefer to cooperate with the local enterprises in the way of laying symbiont, within the presumption that the institution remains. While the local government has the different positions on political activity and economic interest, they will re-define the existed regulation or create new regulation in the condition of institution vacuum. Sequentially, they will replace the targets, and the policy, which does not fit in the Central government’s policy, will emerge.

Keywords: China, institutional change, government enterprise relationship, e-commercial policy

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Authors: Alicja Reuben, Amira Annabi

Abstract:

In this paper, we explore the relationship between the selection of valuation techniques by investment banks and the banks’ risk perceptions and performance in the context of the theory of performativity. We use inferential statistics to study these relationships by building a unique dataset based on the disclosure of 12 investment banks’ 2012-2015 annual financial statements. Moreover, we create two constructs, namely intensity of use and risk perception. We measure the intensity of use as a frequency metric of how often a particular bank adopts valuation techniques for a particular asset or liability. We measure risk perception based on disclosed ranges of values for unobservable inputs. Our results are twofold: we find a significant negative correlation between (1) intensity of use and investment bank performance and (2) intensity of use and risk perception. These results indicate that a performative process takes place, and the valuation techniques are enacting their environment.

Keywords: language, linguistics, performativity, financial techniques

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Authors: Mabrouka Immhemd Al-Werfalli

Abstract:

How are political alienation and corruption related? What is the nature of relationship linking corruption and political alienation? When citizens withdraw their loyalty from their political regime and leaders, they highlight their alienation from them. The link between corruption and political alienation is that the individual would intentionally involve in corruption particularly when a state of lawlessness prevails. This paper represents a challenge- how to gauge a link between political alienation culture of corruption and corruption. It aims to highlight the political alienation related factors that determine the levels of corruption in Libya. One of the most prominent reasons for the Libyan uprising in February 2011 was the pervasiveness of corruption. Corruption in Libya remained a significant problem despite a robust anti-corruption discourse and harsh legislation undertaken by the previous regime. The long-standing political corruption in Libya has offered ample opportunity for the evolution of a structure of negative values and morals. This has formed what is termed as a ‘culture of corruption’, which has induced people to accept and justify corrupt behavior. The paper is a part of a study concerns the phenomenon of political alienation in Libya which was based on a survey conducted in 2001 in the city of Benghazi. The finding shows that abuse of power, embezzlement and misuse of public funds for personal enrichment was thought to be rife within public bodies, institutions, companies, factories, banks and enterprises owned entirely or partially by the state.

Keywords: Libya, abuse of power, anti-corruption, corruption, culture of corruption, embezzlement, participation in corruption, political alienation

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Authors: Assiya Madenovna Borsynbayeva, Kairat Altynbekovich Turgenbayev, Nikolay Petrovich Ivanov

Abstract:

In this article presents the results of rapid diagnostics of tuberculosis in comparison with classical bacteriological method. The proposed method of rapid diagnosis of tuberculosis than bacteriological method allows shortening the time of diagnosis to 7 days, to visualize the growth of mycobacteria in the semi-liquid medium and differentiate the type of mycobacterium. Fast definition of Mycobacterium tuberculosis and its derivatives in the culture medium is a new and promising direction in the diagnosis of tuberculosis.

Keywords: animal diagnosis of tuberculosis, bacteriological diagnostics, antigen, specific antibodies, immunological reaction

Procedia PDF Downloads 332