Search results for: International Investment Arbitration

Authors: Dishari Rakshit, Mitchell Gallagher

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The global landscape is witnessing a disconcerting surge in democratic backsliding, engendering concerns over the rise of autocratisation. This research demonstrates the intricate relationship between a nation's domestic propensity for autocratic governance and its trade relations with China. Giving prominence to Belt and Road Initiative (BRI) investments, this study adopts a rigorous neorealist framework to discern the complexities of nations' economic interests amidst an anarchic milieu and how these interests may transcend steadfast adherence to democratic principles. The burgeoning bipolarity in the international political setting serves as a backdrop to our inquiry. To operationalise our hypothesis, we conduct a large-scale 'N' study, encompassing a comprehensive global dataset comprising countries' democracy indicators, total trade volume with China, and cumulative Chinese BRI investments over a substantial temporal expanse. By meticulously examining BRI signatories’, we aim to ascertain the potential accentuation of democratic backsliding among these nations. To test our empirical underpinning, we will validate our findings through cogent case studies. Our analysis adds to the scholarship on multifaceted interactions between trade dynamics and democratic governance within the fabric of the international political landscape. In its culmination, the paper addresses the question- has the erstwhile grandeur of bipolarity resurfaced in the contemporary global panorama? Concurrently, we explore the nexus between the ascendant wave of autocratisation as a by-product of the Beijing Consensus? Pertinent to policymakers, our discoveries stand poised to furnish a comprehensive grasp of the manifold implications arising from the deepening entanglements with China under the auspices of the BRI.

Keywords: democracy, autocracy, china, belt road initiative, international political economy

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Authors: Morgan Cheng, Wilson Ho, Max Yiu, Dragon Tsui, Wylog Wong, Richard Kwan, K. C. Lam, Hannah Lo, C. L. Wong

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Hong Kong has been known worldwide for its ability to thrive under trying circumstances. The 7.5 million residents of this mature and busy metropolis are living in a primarily high-rise city whereby development and renewal of the cityscape are taking place unceasingly. Hong Kong residents are therefore affected by the virtually continuous and numerous construction activities. In 2020, the Hong Kong environmental protection department (EPD) completed a feasibility study on managing construction noise, including those associated with the renovation of domestic premises. Part of the study was the review of management and control of construction noise in other metropolitan cities globally. As far as the authors are aware of, such worldwide and extensive review of best practices on construction noise control has not been conducted for over 20 years. In order to benefit from international best practices, the extensive review is to identify possible areas for improvement in Hong Kong. The consultant of the study first referred to the United Nations Report ‘The World’s Cities in 2016’ and examined the top 100 cities therein. The 20 most suitable cities were then chosen for further review. Upon screening of each of these 20 cities, 12 cities with the more relevant management practices were selected for further scrutiny. These 12 cities were: Asia – Tokyo, Seoul, Taipei, Guangzhou, Singapore; Europe – City of Westminster (London), Berlin; North America – Toronto, New York City, San Francisco; Oceania – Sydney, Melbourne. Afterwards, three cities, namely Sydney, City of Westminster, and New York City, were selected for in-depth review. These cities were chosen primarily because of the maturity, success, and effectiveness of their construction noise management and control measures, as well as their similarity to Hong Kong in key and selected aspects. One of the more important findings of the review is the usefulness of early focus, with the aim of designing the noise issues away wherever practicable. The consultant examined the similar yet different construction noise early focus mechanisms of the three cities. This paper describes this landmark worldwide and extensive review of international best practices on construction noise management and control. The methodology, approach, and key findings are presented to give readers a succinct yet comprehensive view. The authors shared the findings with the acoustics professionals worldwide with the hope of global advancement of more mature construction noise management while welcoming sustainable development and construction.

Keywords: construction noise, international best practices, noise control, noise management

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Authors: Wasaporn Techapeeraparnich

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Bringing private investor involving in providing public infrastructure have been increasingly used worldwide, and there is no exception for developing countries like Thailand. Recently, there is a huge investment opportunity for public-private partnership (PPP) in Thailand, especially in the transportation sector. This paper analyses the development of the PPP since the early beginning of PPP in different service sectors. It also summarizes the development of PPP and its application in terms of usage, opportunities and trends particularly in the transport sector. The results are aimed to draw some lessons learned for future development.

Keywords: case study, public-private partnership, transportation, Thailand

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Authors: Diego de Almeida Pereira

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The roughness index of a road is considered the most important parameter about the quality of the pavement, as it has a close relation with the comfort and safety of the road users. Such condition can be established by means of functional evaluation of pavement surface deviations, measured by the International Roughness Index (IRI), an index that came out of the international evaluation of pavements, coordinated by the World Bank, and currently owns, as an index of limit measure, for purposes of receiving roads in Brazil, the value of 2.7 m/km. This work make use of the e.IRI parameter, obtained by the Roadroid app. for smartphones which use Android operating system. The choice of such application is due to the practicality for the user interaction, as it possesses a data storage on a cloud of its own, and the support given to universities all around the world. Data has been collected for six months, once in each month. The studies begun in March 2018, season of precipitations that worsen the conditions of the roads, besides the opportunity to accompany the damage and the quality of the interventions performed. About 350 kilometers of sections of four federal highways were analyzed, BR-020, BR-040, BR-060 and BR-070 that connect the Federal District (area where Brasilia is located) and surroundings, chosen for their economic and tourist importance, been two of them of federal and two others of private exploitation. As well as much of the road network, the analyzed stretches are coated of Hot Mix Asphalt (HMA). Thus, this present research performs a contrastive discussion between comfort conditions and safety of the roads under private exploitation in which users pay a fee to the concessionaires so they could travel on a road that meet the minimum requirements for usage, and regarding the quality of offered service on the roads under Federal Government jurisdiction. And finally, the contrast of data collected by National Department of Transport Infrastructure – DNIT, by means of a laser perfilometer, with data achieved by Roadroid, checking the applicability, the practicality and cost-effective, considering the app limitations.

Keywords: roadroid, international roughness index, Brazilian roads, pavement

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Authors: Rameshwar Dahal, S. Ping Ho

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Although the demand for infrastructure development forms a promising market opportunity for international firms, the dominance of informal institutions over formal ones, investors are facing extraordinary institutional challenges when investing in emerging Least Developed Countries (LDCs). We believe that, in emerging LDCs, the project performance heavily depends on how well the entrants respond to the challenges exerted by the host institutional environments. Which primarily depends on how much they learn about the host institution and what strategy they apply in response. In Nepal, almost all international or global infrastructure projects are financed by international financers, so the procurement process of the infrastructure projects financed by foreign agencies is guided by the policies and regulations of the financer. Because of limited resources and the financers’ demand, contractors and consults are procured internationally. Moreover, the resources, including but not limited to construction material, manpower, and equipment, also need to be imported. Therefore, the involvement of international companies as an entrant in global infrastructure projects of LDCs is obvious. In a global project (GP), participants from different geographical and institutional environments hold different beliefs and have disparate interests. Therefore, the entrants face the challenges exerted by the host institutional environments. The entrants must either adapt to the institutions prevailing in the environment or resist the institutional pressures. It is hypothesized that, in emerging LDCs, the project performance heavily depends on how much the entrants learn about the host institutional knowledge and how well they respond to the institutional environments. While it is impossible to generalize the phenomenon and contextual conditions because of their vast diversity, this study has answered why and how participants’ level of institutional knowledge impacts the project's implementation performance. To draw that conclusion, firstly, we explored two typical GPs from Nepal. For this study, the data were collected by conducting interviews and examining the secondary data, such as the project reports published by the financers, project data provided by interviewees, and news reports. In an event analysis, firstly, we identify the sources, causes, or nature of the institutional challenges; secondly, we analyze the entrant’s responses to the exerted challenges and evaluate the impacts of the responses on the overall project performance. In this study, at first, the events occurred during the project implementation process have a causal link with the local institutions that demand the entrants’ response are extracted. Secondly, each event is scrutinized as the critical success factor of the case project. Finally, it is crucially examined whether and what institutional knowledge in these events played a critical role in project success or failure. The results also provide insights into the crucial institutional knowledge in LDCs and the subsequent strategy implications for undertaking projects in LDCs.

Keywords: emerging countries, LDC, project management, project performance, institutional knowledge, institutional theory

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Authors: Dongguk Im, Gunfeel Moon, Younwoo Nam, Kangwoo Chun

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Recognition of the needs about protecting environment throughout worldwide is widespread. In the shipping industry, International Maritime Organization (IMO) has been regulating pollutants emitted from ships by MARPOL 73/78. Recently, the Marine Environment Protection Committee (MEPC) of IMO, at its 68th session, approved the definition of Black Carbon (BC) specified by the following physical properties (light absorption, refractory, insolubility and morphology). The committee also agreed to the need for a protocol for any voluntary measurement studies to identify the most appropriate measurement methods. Filter Smoke Number (FSN) based on light absorption is categorized as one of the IMO relevant BC measurement methods. EUROMOT provided a FSN measurement data (measured by smoke meter) of 31 different engines (low, medium and high speed marine engines) of member companies at the 3rd International Council on Clean Transportation (ICCT) workshop on marine BC. From the comparison of FSN, the results indicated that BC emission from low speed marine diesel engines was ranged from 0.009 to 0.179 FSN and it from medium and high speed marine diesel engine was ranged 0.012 to 3.2 FSN. In consideration of measured the low FSN from low speed engine, an experimental study was conducted using both a low speed marine diesel engine (2 stroke, power of 7,400 kW at 129 rpm) and a high speed marine diesel engine (4 stroke, power of 403 kW at 1,800 rpm) under E3 test cycle. The results revealed that FSN was ranged from 0.01 to 0.16 and 1.09 to 1.35 for low and high speed engines, respectively. The measurement equipment (smoke meter) ranges from 0 to 10 FSN. Considering measurement range of it, FSN values from low speed engines are near the detection limit (0.002 FSN or ~0.02 mg/m3). From these results, it seems to be modulated the measurement range of the measurement equipment (smoke meter) for enhancing measurement accuracy of marine BC and evaluation on performance of BC abatement technologies.

Keywords: black carbon, filter smoke number, international maritime organization, marine diesel engine (two and four stroke), particulate matter

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Authors: Yasir Memon

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The complexity and challenges in the offshore industry are increasing more than the past. The oil and gas industry is expanding every day by accomplishing these challenges. More challenging wells such as longer and deeper are being drilled in today’s environment. Blowout prevention phenomena hold a worthy importance in oil and gas biosphere. In recent, so many past years when the oil and gas industry was growing drilling operation were extremely dangerous. There was none technology to determine the pressure of reservoir and drilling hence was blind operation. A blowout arises when an uncontrolled reservoir pressure enters in wellbore. A potential of blowout in the oil industry is the danger for the both environment and the human life. Environmental damage, state/country regulators, and the capital investment causes in loss. There are many cases of blowout in the oil the gas industry caused damage to both human and the environment. A huge capital investment is being in used to stop happening of blowout through all over the biosphere to bring damage at the lowest level. The objective of this study is to promote safety and good resources to assure safety and environmental integrity in all operations during drilling. This study shows that human errors and management failure is the main cause of blowout therefore proper management with the wise use of precautions, prevention methods or controlling techniques can reduce the probability of blowout to a minimum level. It also discusses basic procedures, concepts and equipment involved in well control methods and various steps using at various conditions. Furthermore, another aim of this study work is to highlight management role in oil gas operations. Moreover, this study analyze the causes of Blowout of Macondo well occurred in the Gulf of Mexico on April 20, 2010, and deliver the recommendations and analysis of various aspect of well control methods and also provides the list of mistakes and compromises that British Petroleum and its partner were making during drilling and well completion methods and also the Macondo well disaster happened due to various safety and development rules violation. This case study concludes that Macondo well blowout disaster could be avoided with proper management of their personnel’s and communication between them and by following safety rules/laws it could be brought to minimum environmental damage.

Keywords: energy, environment, oil and gas industry, Macondo well accident

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Authors: Hyeon Seok Kim, Inhoi Lee, Seong Baeg Kim, Kyunghee Ko, Kyung Eon Lee, Dong Sik Kang

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In the age of globalization, higher education institutions attempt to equip students with global competence. In response, most universities have been developing and running various international programs. However, teacher education has been a neglected area in this trend. Therefore, in this study, we suggest a program that offers a dual bachelor’s degree from both universities located on different countries, focusing on teacher education institutions with different policies and regulations of teacher education programs that may become obstacles to designing a dual degree program. We discuss a possible way to get a dual degree including a teaching certificate at a specialized college, college of secondary education. To be specific, this research presents a way to attain two diplomas from Jeju National University (JNU) in Korea and Boise State University (BSU) in the U.S. It attempts to build an effective plan for students to declare simultaneous degrees at both universities. From the study, we find that it takes about 5 years to fulfill requirements for the dual degree at the undergraduate level.

Keywords: dual degree, curriculum, teaching certificate, college of secondary education, international program

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Authors: Argyro Maria Skourmalla

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The present paper draws on the example of the University of Luxembourg as a multilingual and international setting. The University of Luxembourg, which is located between France, Germany, and Belgium, has adopted a new multilingualism policy in 2020, establishing English, French, German, and Luxembourgish as the official languages of the Institution. With around 7.000 students, more than half of which are international students, the University is a meeting point for languages and cultures. This paper includes data from an online survey that with undergraduate students from different disciplines at the University of Luxembourg. Students shared their personal experience and opinions regarding language use in this higher education context, as well as practices they use in learning in this multilingual context. Findings show the role of technology in assisting students in different aspects of learning this multilingual context. At the same time, more needs to be done to avoid an exclusively monolingual paradigm in higher education. Findings also show that some languages remain ‘unseen’ in this context. Overall, even though linguistic diversity in this University is seen as an asset, a lot needs to be done towards the recognition of staff and students’ linguistic repertoires for inclusion and education equity.

Keywords: higher education, learning, linguistic diversity, multilingual practices

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Authors: Siyanda S. Biyela, Willie A. Cronje

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This paper presents a desktop study of comparing two different wave energy to electricity technologies (WECs) using a techno-economic approach. This techno-economic approach forms basis of a framework for rapid comparison of current and future technologies. The approach also seeks to assist in investment and strategic decision making expediting future deployment of wave energy harvesting in South Africa.

Keywords: cost of energy (COE) tool, sea state, wave energy converter (WEC), WEC-Sim

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Authors: Omer Livvarcin, Mary Kay Park, Michael Miles

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The current literature includes a few studies that mention the impact of relations between teams, the business environment, and experiences from previous projects. There is, however, limited research that treats the phenomenon of project atmosphere (PA) as a whole. This is especially true of research identifying parameters and sub-parameters, which allow project management (PM) teams to build a project culture that ultimately imbues project success. This study’s findings identify a number of key project atmosphere parameters and sub-parameters that affect project management success. One key parameter identified in the study is a cluster related to cultural concurrence, including artifacts such as policies and mores, values, perceptions, and assumptions. A second cluster centers on motivational concurrence, including such elements as project goals and team-member expectations, moods, morale, motivation, and organizational support. A third parameter cluster relates to experiential concurrence, with a focus on project and organizational memory, previous internal PM experience, and external environmental PM history and experience). A final cluster of parameters is comprised of those falling in the area of relational concurrence, including inter/intragroup relationships, role conflicts, and trust. International and intercultural project management data was collected and analyzed from the following countries: Canada, China, Nigeria, South Korea and Turkey. The cross-cultural nature of the data set suggests increased confidence that the findings will be generalizable across cultures and thus applicable for future international project management success. The intent of the identification of project atmosphere as a critical project management element is that a clear understanding of the dynamics of its sub-parameters upon projects may significantly improve the odds of success of future international and intercultural projects.

Keywords: project management, project atmosphere, cultural concurrence, motivational concurrence, relational concurrence

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Authors: Cristina Costa-Lobo, Ana Martins, Maria Das Dores Formosinho, Ana Campina, Filomena Ponte

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This paper is a report on the findings of a study conducted at an international leading food group. Documentary analysis and discourse analysis techniques were used to examine how corporate social responsibility and career education are valued by this international group. The Survey on Corporate Social Responsibility and Career Education was used, with 18 open-ended questions, the first six related to Corporate Social Responsibility and the last 12 related to Education for the Career. The Survey on the Social Emergency Fund was made up of 16 open-ended questions. The Social Welfare Survey was used to investigate the contribution of social workers in this area, as well as to understand their status. The sample of this investigation is composed by the Director of the development area, by the Coordinator and two Social Assistants of the Social Emergency Fund. Their collaboration was the provision of information in the form of an interview where the two main axes of this study were explored: Corporate Social Responsibility and Career Education. With regard to the analysis of data obtained from interviews, it was accomplished through the content analysis according to the Bardin's method (2004), through the pre-analytical, exploratory and qualitative treatment and interpretation of responses. Critical review of documents was also used. The success and effectiveness of this international group are marked by ambition, ability to resist difficulties, sharing of values, spirit of unity and team sense that is shared in its different companies, its leadership position is also due to the concern to see reinforced and developed values of work, discipline, rigor and competence, its management is geared towards responding to immediate challenges from a Corporate Social Responsibility perspective that is characteristic of it, incorporating concerns about impacts both in the medium and long term. In addition to internal training, it directs investments for external training by promoting actions such as participation in seminars and congresses worldwide and the creation of partnerships in various areas of management with prestigious teaching entities. Findings indicate the creation of a training school, with initiatives for internal and external training, in partnerships with prestigious teaching entities. Of particular note is the Management Trainees Program, developed for more than 25 years, characterized by building a career by obtaining knowledge and skills acquired in the combination of on-the-job experience and a training program.

Keywords: career education, corporate social responsibility, training school, management trainees program

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Authors: S. Sadallah

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In this paper, dynamic programming is used to determine the optimal management of financial resources in company. Solution of the problem by consider into simpler substructures is constructed. The optimal management of internal capital of company are simulated. The tools applied in this development are based on graph theory. The software of given problems is built by using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: management, software, optimal, greedy algorithm, graph-diagram

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Authors: Mohammed Alnuwairan, Mahmoud Abdelrahman

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Based on the sustainability concept, this paper explores the current situation of construction and demolition waste (C&D) in the Kingdom of Saudi Arabia (KSA) from the source of production to final destinations. The issues that hindered the investment of recycling C&D in the context will be studied in order to identify the challenges and opportunities to improve this sector and put forward a strategic framework to reduce, reuse, recycle and minimize the disposal of this type of waste. The research, which is exploratory in nature, identified four types of organizations that were appropriate case studies. These organizations were drawn from the municipalities, city council, recyclers and manufacturers. Secondary data collection, direct observation, and elite interviewing methods were used in the case studies to facilitate comparisons with existing literature to explore opportunities to improve sustainability practices in the buildings sector. Implementation of C&D waste management and recycling in KSA is in the early stages. Resistance of virgin building material manufacturers, free usage of landfill, culture, surpluses of natural raw material, availability of land and the cost of recycling this material compared with virgin material hinders the adoption of recycled buildings martial. Although the metal material is collected and recycled but it has the lowest percentage of C&D waste in Saudi. The findings indicate that government and industry need to collaborate more closely in order to successfully implement best practices. Economic and environmental benefits can be achieved, particularly through improvements to infrastructure and legislation. Feasible solution framework and recommendations for managing C&D waste under current situation are provided. The findings can be used to extend this framework and to enable it to be applicable in other context with emerging economies similar to that found in KSA. No study of this type has been previously carried out in KSA. The findings should prove useful in creating a future research agenda for C&D waste in KSA and, possibly, other emerging countries within a similar context.

Keywords: construction and demolition waste, recycling, reuse, sustainability

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Authors: Muhammad Naveed, Yang Caixia

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The need for national space legislation is pivotal, particularly in light of the fact that in recent years space activities have grown immensely both in volume and diversity. Countries are progressively developing capabilities in space exploration and scientific discoveries, market their capabilities to manufacture satellites, provide launch services from their facilities and are looking to privatize and commercialize their space resources. Today, nations are also seeking to comprehend the technological and financial potential of the private sector and are considering to share their financial burdens with them and to limit their exposures to risks, but they are lagging behind in legal framework in this regard. In the perspective of these emerging developments, it is therefore, felt that national space legislation should be enacted with the goal of building and implementing a vibrant and transparent legal framework at the national level to hasten investments and to ensure growth in this capital intensive - highly yield strategic sector. This study looks at (I) the international legal framework that governs space activities; (II) motivation behind making national space laws; and (III) the need for national space legislation. The paper concludes with some recommendations with regards to the conceivable future direction for national space legislation, in particular space empowered sub-areas for countries.

Keywords: international conventions, national legislation, space faring nations, space law

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Authors: Ting Shen, Spyros Konstantopoulos

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During the past three decades, class size effects have been a focal debate in education. The idea of having smaller class is enormously popular among parents, teachers and policy makers. The rationale of its popularity is that small classroom could provide a better learning environment in which there would be more teacher-pupil interaction and more individualized instruction. This early stage benefits would also have a long-term positive effect. It is a common belief that reducing class size may result in increases in student achievement. However, the empirical evidence about class-size effects from experimental or quasi-experimental studies has been mixed overall. This study sheds more light on whether class size reduction impacts reading achievement in eight European countries: Bulgaria, Germany, Hungary, Italy, Lithuania, Romania, Slovakia, and Slovenia. We examine class size effects on reading achievement using national probability samples of fourth graders. All eight European countries had participated in the Progress in International Reading Literacy Study (PIRLS) in 2001, 2006 and 2011. Methodologically, the quasi-experimental method of instrumental variables (IV) has been utilized to facilitate causal inference of class size effects. Overall, the results indicate that class size effects on reading achievement are not significant across countries and years. However, class size effects are evident in Romania where reducing class size increases reading achievement. In contrast, in Germany, increasing class size seems to increase reading achievement. In future work, it would be valuable to evaluate differential class size effects for minority or economically disadvantaged student groups or low- and high-achievers. Replication studies with different samples and in various settings would also be informative. Future research should continue examining class size effects in different age groups and countries using rich international databases.

Keywords: class size, reading achievement, instrumental variables, PIRLS

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Authors: Cruz, G. P., Nagamatsu, R. N., Scacchetti, F. A. P., Merlin, F. K.

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This study aims to assess a set of technical parameters that provide quality products to the companies that produce caps, APL Apucarana / PR, the city that produces most Brazilian caps, in order to verify the potential of Brazilian caps to compete with international brands, recognized by the standard of excellence when it comes to quality of its products. The determination of the technical parameters was arbitrated from textile ABNT, a total of six technical parameters, providing eight tests for cotton caps. For the evaluation, we used as reference a leading brand recognized worldwide (based on their sales volume in $) for comparison with 3 companies of the APL Apucarana. The results showed that, of the 8 tests, of 8 tests, the companies Apucarana did not obtain better performance than the competitor. They obtained the same results in three tests and lower performance in 5. Given these values, it is concluded that local caps are not far from reaching the quality of leading brand. It is recommended that the APL companies use the parameters to evaluate their products, using this information to support decision-making that seek to improve both the product design and its production process, enabling the feasibility for faster international recognition . Thus, they may have an edge over its main competitor.

Keywords: technical parameters, making caps, quality, evaluation

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Authors: Mohammad K. Rumjaun, Sana Amjed, Muhammad A. Ghazi, Safa G. Attar, Jason Raw

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Background: National Health Service (NHS) in England is one of the leading healthcare systems in the world and it heavily relies on the recruitment of overseas doctors. 30.7% of the doctors currently serving in NHS are overseas doctors. Most of these doctors do not receive the essential induction required to work in the NHS when they first arrive and therefore, they mostly struggle to work effectively in the first few months of their new jobs as compared to UK graduates. In our hospital, the clinical need for a dedicated induction programme for the International Medical Graduates (IMGs) was identified for their initial settling period and this programme was designed to achieve this. Methods: A questionnaire was designed for the previous 7 IMGs (Group 1) in order to identify the difficulties they faced in their initial phase. Thereafter, an induction programme consisting of presentations explaining the NHS and hospital framework, communication skills practice sessions, the clinical ceiling of care and patient simulation training was implemented for 6 new IMGs (Group 2). Another survey was done and compared with the previous. Results: After this programme, group 2 required only 1 week to understand the complexity of the IT systems as compared 3 weeks in group 1. 83% of group 2 was well-supported for their on-call duties after this programme as compared to 29% and 100% of group 2 was aware of their role in the job after the induction as compared to 0%. Furthermore, group 2 was able to function independently and confidently in their roles after only 1 month as compared to an average of 3 months for group 1. After running the PDSA cycles, our results show clear evidence that this programme has tremendously benefitted the IMGs in settling in the NHS. The IMGs really appreciated this initiative and have given positive feedback. Conclusion: Leaving your home country to begin your career in a different country is not an easy transition and undoubtedly, everyone struggles. It is important to invest in a well-structured induction programme for the IMGs in the initial phase of their jobs as this will improve not only their confidence and efficacy but also patients’ safety.

Keywords: induction programme, international medical graduates, NHS, overseas doctors struggles.

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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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Authors: Rohit Kapoor

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In this paper, an attempt is made to formulate 3-echelon repairable parts inventory system under (S-1, S) policy. This analytical model is the extension of an exact formulation of two - echelon repairable parts inventory system, already reported in the established literature. In the present paper, we try to formulate the total cost expression consisting of two components, viz., system investment cost and expected backorder cost.

Keywords: (S-1, S) inventory policy, multi-echelon inventory system, repairable parts

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Authors: Elnaz Entezar, Reza Ezzati

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In recent decades, trade flows, capital, workforce, technology and information have increased between international borders and the globalization has turned to an undeniable process in international economics. Meanwhile, despite the positive aspects of globalization, the critics of globalization opine that the risks and costs of globalization for developing vulnerable economies and the world's impoverished people are high and significant. In this regard, this study by using the data of KOF Economic Institute and the World Bank for 113 different countries during the period 2002-2012, by taking advantage of panel smooth transition regression, and by taking the gross domestic product as transmission variables discuss the nonlinear relationship between research variables. The results have revealed that globalization in low regime (countries with low GDP) has negative impact whereas in high regime (countries with high GDP) has a positive impact. In spite of the fact that in the early stages of growth, control of corruption has a positive impact on economic growth, after a threshold has a negative impact on economic growth.

Keywords: globalization, corruption, panel smooth transition model, economic growth, threshold, economic convergence

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Authors: Nadezhda Kvatashidze, Elena Kharabadze

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It is broadly known that lease is a flexible means of funding enterprises. Lease reduces the risk related to access and possession of assets, as well as obtainment of funding. Therefore, it is important to refine lease accounting. The lease accounting regulations under the applicable standard (International Accounting Standards 17) make concealment of liabilities possible. As a result, the information users get inaccurate and incomprehensive information and have to resort to an additional assessment of the off-balance sheet lease liabilities. In order to address the problem, the International Financial Reporting Standards Board decided to change the approach to lease accounting. With the deficiencies of the applicable standard taken into account, the new standard (IFRS 16 ‘Leases’) aims at supplying appropriate and fair lease-related information to the users. Save certain exclusions; the lessee is obliged to recognize all the lease agreements in its financial report. The approach was determined by the fact that under the lease agreement, rights and obligations arise by way of assets and liabilities. Immediately upon conclusion of the lease agreement, the lessee takes an asset into its disposal and assumes the obligation to effect the lease-related payments in order to meet the recognition criteria defined by the Conceptual Framework for Financial Reporting. The payments are to be entered into the financial report. The new lease accounting standard secures supply of quality and comparable information to the financial information users. The International Accounting Standards Board and the US Financial Accounting Standards Board jointly developed IFRS 15: ‘Revenue from Contracts with Customers’. The standard allows the establishment of detailed revenue recognition practical criteria such as identification of the performance obligations in the contract, determination of the transaction price and its components, especially price variable considerations and other important components, as well as passage of control over the asset to the customer. IFRS 15: ‘Revenue from Contracts with Customers’ is very similar to the relevant US standards and includes requirements more specific and consistent than those of the standards in place. The new standard is going to change the recognition terms and techniques in the industries, such as construction, telecommunications (mobile and cable networks), licensing (media, science, franchising), real property, software etc.

Keywords: assessment of the lease assets and liabilities, contractual liability, division of contract, identification of contracts, contract price, lease identification, lease liabilities, off-balance sheet, transaction value

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Authors: Jorge Anibal Restrepo Morales, Sonia Martín Gómez

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A model based on a logical framework was developed to quantify SMEs' internationalization capacity. To do so, linguistic variables, such as human talent, infrastructure, innovation strategies, FTAs, marketing strategies, finance, etc. were integrated. It is argued that a company’s management of international markets depends on internal factors, especially capabilities and resources available. This study considers internal factors as the biggest business challenge because they force companies to develop an adequate set of capabilities. At this stage, importance and strategic relevance have to be defined in order to build competitive advantages. A fuzzy inference system is proposed to model the resources, skills, and capabilities that determine the success of internationalization. Data: 157 linguistic variables were used. These variables were defined by international trade entrepreneurs, experts, consultants, and researchers. Using expert judgment, the variables were condensed into18 factors that explain SMEs’ export capacity. The proposed model is applied by means of a case study of the textile and clothing cluster in Medellin, Colombia. In the model implementation, a general index of 28.2 was obtained for internationalization capabilities. The result confirms that the sector’s current capabilities and resources are not sufficient for a successful integration into the international market. The model specifies the factors and variables, which need to be worked on in order to improve export capability. In the case of textile companies, the lack of a continuous recording of information stands out. Likewise, there are very few studies directed towards developing long-term plans, and., there is little consistency in exports criteria. This method emerges as an innovative management tool linked to internal organizational spheres and their different abilities.

Keywords: business strategy, exports, internationalization, fuzzy set methods

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Authors: Murad A. Bein

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This paper empirically examines the time-varying relationship and spillover effects between the international crude oil price and ten emerging equity markets, namely three oil-exporting countries (Brazil, Mexico, and Russia) and seven Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, and Slovakia). The results revealed that there are spillover effects from oil markets into almost all emerging equity markets save Slovakia. Besides, the oil supply glut had a homogenous effect on the emerging markets, both net oil-exporting, and oil-importing countries (CEE). Further, the time variance drastically increased during financial turmoil. Indeed, the time variance remained high from 2009 to 2012 in response to aggregate demand shocks (global financial crisis and Eurozone debt crisis) and quantitative easing measures. Interestingly, the time variance was slightly higher for the oil-exporting countries than for some of the CEE countries. Decision-makers in emerging economies should therefore seek policy coordination when dealing with financial turmoil.

Keywords: crude oil, spillover effects, emerging equity, time-varying, aggregate demand shock

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Authors: Olatokunbo Yakeem

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Human trafficking is a crime against gross violations of human rights. Trafficking in persons is a severe socio-economic dilemma that affects the national and international dimensions. Human trafficking or modern-day-slavery emanated from slavery, and it has been in existence before the 6ᵗʰ century. Today, no country is exempted from dehumanizing human beings, and as a result, it has been an international issue. The United Nations (UN) presented the International Protocol to fight human trafficking worldwide, which brought about the international definition of human trafficking. The protocol is to prevent, suppress, and punish trafficking in persons, especially women and children. The trafficking protocol has a link with transnational organised crime rather than migration. Over a hundred and fifty countries nationwide have enacted their criminal and panel code trafficking legislation from the UN trafficking protocol. Sex trafficking is the most common type of exploitation of women and children. Other forms of this crime involve exploiting vulnerable victims through forced labour, child involvement in warfare, domestic servitude, debt bondage, and organ removal for transplantation. Trafficking of women and children into sexual exploitation represents the highest form of human trafficking than other types of exploitation. Trafficking of women and children can either happen internally or across the border. It affects all kinds of people, regardless of their race, social class, culture, religion, and education levels. However, it is more of a gender-based issue against females. Furthermore, human trafficking can lead to life-threatening infections, mental disorders, lifetime trauma, and even the victim's death. The study's significance is to explore why the root causes of women and children trafficking in Nigeria are based around poverty, entrusting children in the hands of relatives and friends, corruption, globalization, weak legislation, and ignorance. The importance of this study is to establish how the national, regional, and international organisations are using the 3P’s Protection, Prevention, and Prosecution) to tackle human trafficking. The methodology approach for this study will be a qualitative paradigm. The rationale behind this selection is that the qualitative method will identify the phenomenon and interpret the findings comprehensively. The data collection will take the form of semi-structured in-depth interviews through telephone and email. The researcher will use a descriptive thematic analysis to analyse the data by using complete coding. In summary, this study aims to recommend to the Nigerian federal government to include human trafficking as a subject in their educational curriculum for early intervention to prevent children from been coerced by criminal gangs. And the research aims to find the root causes of women and children trafficking. Also, to look into the effectiveness of the strategies in place to eradicate human trafficking globally. In the same vein, the research objective is to investigate how the anti-trafficking bodies such as law enforcement and NGOs collaborate to tackle the upsurge in human trafficking.

Keywords: children, Nigeria, trafficking, women

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Authors: Periklis Brakatsoulas

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Recent empirical research shows a growing interest in investment decision-making under market anomalies that contradict the rational paradigm. Momentum is undoubtedly one of the most robust anomalies in the empirical asset pricing research and remains surprisingly lucrative ever since first documented. Although predominantly phenomena identified across equities, momentum premia are now evident across various asset classes. Yet few many attempts are made so far to provide traders a diversified portfolio of strategies across different assets and markets. Moreover, literature focuses on patterns from past returns rather than mechanisms to signal future price directions prior to momentum runs. The aim of this paper is to develop a diversified portfolio approach to price distortion signals using daily position data on stocks, credit derivatives, and bonds. An algorithm allocates assets periodically, and new investment tactics take over upon price momentum signals and across different ranking groups. We focus on momentum life cycles, trend reversals, and price acceleration signals. The main effort here concentrates on the density, time span and maturity of momentum phenomena to identify consistent patterns over time and measure the predictive power of buy-sell signals generated by these anomalies. To tackle this, we propose a two-stage modelling process. First, we generate forecasts on core macroeconomic drivers. Secondly, satellite models generate market risk forecasts using the core driver projections generated at the first stage as input. Moreover, using a combination of the ARFIMA and FIGARCH models, we examine the dependence of consecutive observations across time and portfolio assets since long memory behavior in volatilities of one market appears to trigger persistent volatility patterns across other markets. We believe that this is the first work that employs evidence of volatility transmissions among derivatives, equities, and bonds to identify momentum life cycle patterns.

Keywords: forecasting, long memory, momentum, returns

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Authors: Gheorghe Braniste

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It is a matter of common knowledge the fact that the International Olympic Movement is characterized by dynamism and adaptability to the challenges of modern society. A significant proof of this is the establishment of the IOC Refugee Olympic Team in 2016, at the Olympic Games in Rio de Janeiro, a practice continued in Tokyo in 2020 and with a great chance to be successfully repeated in subsequent editions: Paris 2024 and Dakar 2026. This phenomenon is all the more welcome as, after the global refugee crisis of 2015, when the whole world has seen millions of people in the world displaced, we are now experiencing the negative effects of the war that started in February 2022 in Ukraine; which caused the exodus of the population to neighboring countries. Therefore, the international Olympic community must decide how to integrate Ukrainian athletes with refugee status into the Olympic system. Until the establishment of an internationally agreed policy, Romania and the Republic of Moldova, as countries directly involved in this process, must find urgent solutions to allow athletes to continue their Olympic careers. This article proposes a description of the strategies adopted both at the national level and at the level of sports clubs and an analysis of their impact on the performance of athletes.

Keywords: olympic movement, olympic games, refugees, performance, integration

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Authors: Manjinder Singh, Anish Sachdeva

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Research on total quality management (TQM), total productive maintenance (TPM), international organization for standardization (ISO) and six sigma generally investigate the implementation and impact of these programs in isolation. However, none of these quality improvement programs is self-sufficient and they may not be powerful enough to deliver the improvements and innovations that are required nowadays to ensure the survival and growth of a firm. They are not mutually exclusive and inconsistent. On the contrary, they need complementary support and may reinforce mutually to make use of their complementarity, inducement of side-effects in favor of other quality improvement program, mutual simulation and exploitation of shared values. In this paper, first of all, the various management activities were identified which are normally under focus when any quality improvement program is implemented in any organization. Then TOPSIS methodology was applied to establish the ranking of various quality improvement programs (total quality management, total productive maintenance, ISO and six sigma which were brought to the corporate boardroom to improve the quality) with respect to different management activities (operations related activities, quality related activities, maintenance related activities, organizational related activities, human related activities and finance related activities).

Keywords: total productive maintenance (TPM), total quality management (TQM), TOPSIS, international organization for standardization (ISO)

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Authors: Benet Reid, Nina Laurie, Matt Baillie-Smith

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Trans-national and tropical medicine, historically associated with colonial power and missionary activity, is now central to discourses of global health and development, thrust into mainstream media by events like the 2014 Ebola crisis and enshrined in the Sustainable Development Goals. Research in this area remains primarily the province of health professional disciplines, and tends to be framed within a simple North-to-South model of development. The continued role of voluntary work in this field is bound up with a rhetoric of partnering and partnership. We propose, instead, the idea of International Voluntary Health Networks (IVHNs) as a means to de-centre global-North institutions in these debates. Drawing on our empirical work with IVHNs in countries both North and South, we explore geographical and sociological theories for mapping the multiple spatial and conceptual dynamics of power manifested in these phenomena. We make a radical break from conventional views of health as a de-politicised symptom or corollary of social development. In studying health work as it crosses between cultures and contexts, we demonstrate the inextricably political nature of health and health work everywhere.

Keywords: development, global health, power, volunteering

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Authors: Maria Khan

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Framing good core Human Resource Management (HRM) functions like recruitment, selection, training and development, which if executed effectively, can become a strategic advantage for a company. HRM policies related to mid-level managers can depend on the type of top management. This may be due to the difference in perception of effective HRM policies of an expatriate and local leadership. This comparative case study assesses how local mid-level managers are managed in leading multinational telecom companies in Pakistan. Core HRM functions related to managers were analysed through field research based on semi-structured interviews with relevant Human Resource Managers. Results suggest that recruitment and selection practices are not too different and are in compliance with best HRM practices. However, there is a difference in the effective implementation of Training and Development policies. Changing global management trends and skill development dictate that MNCs continuously develop the local talent effectively for local and international success.

Keywords: recruitment, selection, training, development, core HRM, human resource management, subsidiary, international staffing, managers, MNC, expatriate

Procedia PDF Downloads 325