Search results for: Private Finance Initiative (PFI)

Authors: Claudia Marcela Munoz Gonzalez, Diego Fernando Hernandez Losada, Hugo Alberto Herrera Fonseca

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The project owner's role in the public-private investment consists of controlling and verifying the correct execution of the project's objectives and resources. Likewise, it is a discipline little explored in the academic field, whereby this work wishes to contribute with a model of good practices based on the project management methodology proposed by the Project Management Body of Knowledge® Guide. In the same way, highlight what are the controls that an integral project owner should take into account in its exercise and application, through the stages in which its contract runs. This proposal aims to structure its practice and integrate its functions according to a project management methodology. In addition, these practices will be applied in a case study of projects in the agricultural sector, particularly in the construction of irrigation district in Cundinamarca, Colombia.

Keywords: controls, construction of irrigation district, PMBOK®, project owner

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Authors: Marianna De Almeida

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Greek secondary education is a highly selective system with regard to the access of students to Greek universities. Since access from elementary to lower secondary education and afterward to upper secondary education is rather liberal and almost free of selective mechanisms, the basic selection process comes after graduating from upper secondary school into play when students go through a highly selective process for university entry. This structure is responsible for the experience of extreme stress on the part of the candidates during a period of at least two years before the entrance examination leading to a radical change in students' everyday life routines. Instead of the school being an important agent for academic and psychological support, it seems that other agents, such as the informal private preparatory school and the student's families, take on the supportive role.

Keywords: stress, entrance examinations, family support, secondary education

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Authors: Arenkala Kichu

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This paper consolidates and tries to bring out the findings that investigated in Kohima and Mokokchung districts in Nagaland, which is in the northeastern part of India. The aim of this paper is to test the speaking and writing skills of the undergraduate learners who opt functional English as one of their papers. functional English is taught in just two colleges; Fazl Ali College and Kohima Colleges, out of 15 government and 36 private colleges in the state. This research (based on several observations made by Naga researchers) hypothesizes that functional English enhances competencies at the undergraduate level, which would open doors to work, learn more and better prospects. It is expected that learners in Functional English class, which follows the communicative language teaching method, might be the answers to those problems, as to why proficiency level still leaves much to be desired, in spite of the advent of the education over a hundred years ago. This type of teaching follows only in functional English class in these two colleges.

Keywords: enhancing competencies, speaking skills, undergraduate level, writing skills

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Authors: Abdullah Al Mamun, Tarek R. Sheltami

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Video conferencing is a highly demanding facility now a days in order to its real time characteristics, but faster communication is the prior requirement of this technology. Multi Protocol Label Switching (MPLS) IP Virtual Private Network (VPN) address this problem and it is able to make a communication faster than others techniques. However, this paper studies the performance comparison of video traffic between two routing protocols namely the Enhanced Interior Gateway Protocol(EIGRP) and Open Shortest Path First (OSPF). The combination of traditional routing and MPLS improve the forwarding mechanism, scalability and overall network performance. We will use GNS3 and OPNET Modeler 14.5 to simulate many different scenarios and metrics such as delay, jitter and mean opinion score (MOS) value are measured. The simulation result will show that OSPF and BGP-MPLS VPN offers best performance for video conferencing application.

Keywords: OSPF, BGP, EIGRP, MPLS, Video conference, Provider router, edge router, layer3 VPN

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Authors: Vitor Gomes, Maria João Santos

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The research carried out aimed to analyze how human resources management professionals manage their careers. It investigates the protean career and boundaryless career attitudes of these professionals and the extent to which socio-demographic dimensions (salary, gender, and academic degree, amongst others) influence their attitudes. A total of 732 professionals in the field of human resources who work for other private companies in Portugal participated in this study. The results show that as far as the professionals studied are concerned, protean attitudes and boundaryless careers prevail. Other research findings show that: (1) those with higher salaries have higher levels of protean and boundaryless career attitudes; (2) male professionals and (3) with higher education have a higher prevalence of protean and boundaryless attitudes when compared to female professionals and professionals without higher education.

Keywords: boundaryless careeer, careeer management, human resource management, protean career, portugal

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Authors: Reihaneh Rafiemanzelt

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The need to protect our cultural heritage was stressed on revitalization of historical city centers in communities. The main goals the proses was to attract finance and activities to the historical city centers through the citizens and municipalities participation while cities expanded their boundaries toward suburban areas. Todays the main problems which facing to the most historical city centers, is loss of their centrality through effect of urbanization on any point of the cities which is the most important issue on neglect and abandonment of the historical central area by decentralizing living, commerce and public areas. This article evaluate the ways in which city center revitalization can be effect on vitality and viability of the central area in case of Naghshe Jahan square which situated at the center of Isfahan city, Iran. Constructed between 1598 and 1629, it is now an important historical site, and one of UNESCO's World Heritage Sites.

Keywords: urban development, revitalization, city centers, vitality and viability

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Authors: Sandra Rigot, Samira Demaria, Frederic Lemaire

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The starting point of this research is the contemporary capitalist paradox: there is a real scarcity of long term investment despite the boom of potential long term investors. This gap represents a major challenge: there are important needs for long term financing in developed and emerging countries in strategic sectors such as energy, transport infrastructure, information and communication networks. Moreover, the recent financial and sovereign debt crises, which have respectively reduced the ability of financial banking intermediaries and governments to provide long term financing, questions the identity of the actors able to provide long term financing, their methods of financing and the most appropriate forms of intermediation. The issue of long term financing is deemed to be very important by the EU Commission, as it issued a 2013 Green Paper (GP) on long-term financing of the EU economy. Among other topics, the paper discusses the impact of the recent regulatory reforms on long-term investment, both in terms of accounting (in particular fair value) and prudential standards for banks. For banks, prudential and accounting standards are also crucial. Fair value is indeed well adapted to the trading book in a short term view, but this method hardly suits for a medium and long term portfolio. Banks’ ability to finance the economy and long term projects depends on their ability to distribute credit and the way credit is valued (fair value or amortised cost) leads to different banking strategies. Furthermore, in the banking industry, accounting standards are directly connected to the prudential standards, as the regulatory requirements of Basel III use accounting figures with prudential filter to define the needs for capital and to compute regulatory ratios. The objective of these regulatory requirements is to prevent insolvency and financial instability. In the same time, they can represent regulatory constraints to long term investing. The balance between financial stability and the need to stimulate long term financing is a key question raised by the EU GP. Does fair value accounting contributes to short-termism in the investment behaviour? Should prudential rules be “appropriately calibrated” and “progressively implemented” not to prevent banks from providing long-term financing? These issues raised by the EU GP lead us to question to what extent the main regulatory requirements incite or constrain banks to finance long term projects. To that purpose, we study the 292 responses received by the EU Commission during the public consultation. We analyze these contributions focusing on particular questions related to fair value accounting and prudential norms. We conduct a two stage content analysis of the responses. First, we proceed to a qualitative coding to identify arguments of respondents and subsequently we run a quantitative coding in order to conduct statistical analyses. This paper provides a better understanding of the position that a large panel of European stakeholders have on these issues. Moreover, it adds to the debate on fair value accounting and its effects on prudential requirements for banks. This analysis allows us to identify some short term bias in banking regulation.

Keywords: basel 3, fair value, securitization, long term investment, banks, insurers

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Authors: Amunupura Kiriwandeiye Gedara, Asintha Saminda Gnanaratne

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The security forces can be described as a workforce that goes beyond the role of ensuring the national security and contributes to the development process of the country. Soldiers are following combatant training courses during their tenure, they are equipped with a variety of vocational training courses to satisfy the needs of the army, to equip them with vocational training capabilities to achieve the development and reconstruction goals of the country as well as for the betterment of society in the event of emergencies. But with retirement, their relationship with the military is severed, and they are responsible for the future of their lives. The main purpose of this study was to examine how such professional capabilities can contribute to the development of the country, the current socio-economic status of the retired soldiers, and the current application of the vocational training skills they have mastered in the army to develop and rebuild the country in an effective manner. After analyzing the available research literature related to this field, a conceptual framework was developed and according to qualitative research methodology, and data obtained from Case studies and interviews are analyzed by using thematic analysis. Factors influencing early retirement include a lack of understanding of benefits, delays in promotions, not being properly evaluated for work, getting married on hasty decisions, and not having enough time to spend on family and household chores. Most of the soldiers are not aware about various programs and benefits available to retirees. They do not have a satisfactory attitude towards the retirement guidance they receive from the army at the time of retirement. Also, due to the lack of understanding about how to use their vocational capabilities successfully pursue their retirement life, the majority of people are employed in temporary jobs, and some are successful in post-retirement life due to their successful use of training received. Some live on pensions without engaging in any income-generating activities, and those who retire after 12 years of service are facing severe economic hardships as they do not get pensions. Although they have received training in various fields, they do not use them for their benefit due to lack of proper guidance. Although the government implements programs, they are not clearly aware of them. Barriers to utilization of training include an absence of a system to identify the professional skills of retired soldiers, interest in civil society affairs, exploration of opportunities in the civil and private sectors, and politicization of services. If they are given the opportunity, they will be able to contribute to the development and reconstruction process. The findings of the study further show that it has many social, economic, political, and psychological benefits not only for individuals but also for a country. Entrepreneurship training for all retired soldiers, improving officers' understanding, streamlining existing mechanisms, creating new mechanisms, setting up a separate unit for retirees, and adapting them to civil society, private and non-governmental contributions, and training courses can be identified as potential means to improve the current situation.

Keywords: development, reconstruction, retired soldiers, vocational capabilities

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Authors: Sadia Afroza, Rakiba Rouf

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Road safety and associated behaviors have received significant attention in recent years, reflecting general public concern. This paper portrays a statistical scenario of the young drivers in UAE with emphasis on various concern points of young driver’s behavior and license issuance. Although there are many factors contributing to road accidents, statistically it is evident that age plays a major role in road accidents. Despite ensuring strict road safety laws enforced by the UAE government, there is a staggering correlation among road accidents and young driver’s at UAE. However, private organizations like BMW and RoadSafetyUAE have extended its support on conducting surveys on driver’s behavior with an aim to ensure road safety. Various strategies such as road safety law enforcement, license issuance, adapting new technologies like safety cameras and raising awareness can be implemented to improve the road safety concerns among young drivers.

Keywords: driving behavior, Graduated Driver Licensing System (GLDS), road safety, UAE drivers, young drivers

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Authors: Chengli Liu, C. K. M. Lee

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The tradition competitive newsvendor game assumes decision makers are rational. However, there are behavioral biases when people make decisions, such as loss aversion, mental accounting and overconfidence. Overestimation of a subject’s own performance is one type of overconfidence. The objective of this research is to analyze the impact of the overestimated demand in the newsvendor competitive game with two players. This study builds a competitive newsvendor game model where newsvendors have private information of their demands, which is overestimated. At the same time, demands of each newsvendor forecasted by a third party institution are available. This research shows that the overestimation leads to demand steal effect, which reduces the competitor’s order quantity. However, the overall supply of the product increases due to overestimation. This study illustrates the boundary condition for the overestimated newsvendor to have the equilibrium order drop due to the demand steal effect from the other newsvendor. A newsvendor who has higher critical fractile will see its equilibrium order decrease with the drop of estimation level from the other newsvendor.

Keywords: bias, competing newsvendor, Nash equilibrium, overestimation

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Authors: Hale Kirer Silva Lecuna, Beyza Aydin

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Health is one of the main components of human capital and sustainable development, and it is very important for economic growth. Health economics, which is an indisputable part of the science of economics, has five stages in general. These are health and development, financing of health services, economic regulation in the health, allocation of resources and efficiency of health services. A well-developed and efficient health sector plays a major role by increasing the level of development of countries. The most crucial pillars of the health sector are the hospitals that are divided into public and private. The main purpose of the hospitals is to provide more efficient services. Therefore the aim is to meet patients’ satisfaction by increasing the service quality. Health-related studies in Turkey date back to the Ottoman and Seljuk Empires. In the near past, Turkey applied 'Health Sector Transformation Programs' under different titles between 2003 and 2010. Our aim in this paper is to measure how effective these transformation programs are for the health sector, to see how much they can increase the efficiency of hospitals over the years, to see the return of investments, to make comments and suggestions on the results, and to provide a new reference for the literature. Within this framework, the public and private hospitals in Balıkesir, Bilecik, Bursa, Çanakkale, Edirne, Istanbul, Kirklareli, Kocaeli, Sakarya, Tekirdağ, Yalova will be examined by using Data Envelopment Analysis (DEA) for the years between 2000 and 2019. DEA is a linear programming-based technique, which gives relatively good results in multivariate studies. DEA basically estimates an efficiency frontier and make a comparison. Constant returns to scale and variable returns to scale are two most commonly used DEA methods. Both models are divided into two as input and output-oriented. To analyze the data, the number of personnel, number of specialist physicians, number of practitioners, number of beds, number of examinations will be used as input variables; and the number of surgeries, in-patient ratio, and crude mortality rate as output variables. 11 hospitals belonging to the Marmara region were included in the study. It is seen that these hospitals worked effectively only in 7 provinces (Balıkesir, Bilecik, Bursa, Edirne, İstanbul, Kırklareli, Yalova) for the year 2001 when no transformation program was implemented. After the transformation program was implemented, for example, in 2014 and 2016, 10 hospitals (Balıkesir, Bilecik, Bursa, Çanakkale, Edirne, İstanbul, Kocaeli, Kırklareli, Tekirdağ, Yalova) were found to be effective. In 2015, ineffective results were observed for Sakarya, Tekirdağ and Yalova. However, since these values are closer to 1 after the transformation program, we can say that the transformation program has positive effects. For Sakarya alone, no effective results have been achieved in any year. When we look at the results in general, it shows that the transformation program has a positive effect on the effectiveness of hospitals.

Keywords: data envelopment analysis, efficiency, health sector, Marmara region

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Authors: Asror Nigmonov Asqar Ogli, Sitora Inoyatova Amonovna

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It has been a decade when the crowdfunding and P2P lending opportunities were created. Today, the market of these modern alternative investments is becoming increasingly complex to navigate. There are overwhelming amount of peer-to-peer lending platforms both in developed and emerging economies. This study looks into this market via the cross country empirical study. In this respect, it tests the effect of various macroeconomic factors on P2P loan lending. Based on the existing literature that largely lacks empirical investigations, it builds regression model that aims to explore the relationship between economy and P2P lending. Though the author found it extremely difficult to compare the findings with earlier studies, this paper had identified certain tendencies in the data and had certain policy implications. However, the paper could not find any significant effect of economic variables on P2P lending. The paper can be considered as a starting point in empirical investigation of P2P lending and highlights room further research based on limitations of the study.

Keywords: peer-to-peer lending, crowdfunding, marketplace lending, alternative finance, fintech

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Authors: Najiba Ouled Omar, Azza Harbaoui, Henda Ben Ghezala

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Current research practices sentiment analysis with a focus on social networks, DEfi Fouille de Texte (DEFT) (Text Mining Challenge) evaluation campaign focuses on opinion mining and sentiment analysis on social networks, especially social network Twitter. It aims to confront the systems produced by several teams from public and private research laboratories. DEFT offers participants the opportunity to work on regularly renewed themes and proposes to work on opinion mining in several editions. The purpose of this article is to scrutinize and analyze the works relating to opinions mining and sentiment analysis in the Twitter social network realized by DEFT. It examines the tasks proposed by the organizers of the challenge and the methods used by the participants.

Keywords: opinion mining, sentiment analysis, emotion, polarity, annotation, OSEE, figurative language, DEFT, Twitter, Tweet

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Authors: Rosana Silvina Codaro, Patricia Amelia Tomei

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This study explores the relationship between job satisfaction and alignment between the individual´s current occupation and his talents, needs and values, namely his 'career anchors'. With this purpose in mind, a quantitative survey was performed for a non- graduate probabilistic sample of management business students of a private university in Rio de Janeiro. The results of the survey showed there is no significant association between satisfaction at work and alignment with the individual’s career anchor. The most frequent career anchor found for both genders was lifestyle, showing a trend towards finding a career that allows some balance between professional and personal life. The study also showed that self-employed individuals are more satisfied with their work than the individuals employed by a company are, and men are more satisfied at work than women are, Individuals aligned and not satisfied tend to be the ones who have fewer years of work experience and individuals not aligned and satisfied tend to be older.

Keywords: careers, career anchors, job satisfaction, Schein´s career anchor model

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Authors: Khondokar Farid Ahmmed, Robin Bown

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It is widely recognized that the formal financing of Small and Medium Size Enterprises (SMEs) by Private Commercial Banks (PCBs) is restricted. Due to changing financial market competition, SMEs are now important customers to PCBs in the member countries of the Asian Development Bank (ADB). Various initiatives in enhancing the efficiency of risk assessment of PCBs have failed in increasing financing accessibility in the traditional financing system where information asymmetry is a key constraint. In this circumstance, PCBs need to undertake a holistic approach. Holistic approach refers to methods that attempt to fundamentally change established traditions. To undertake holistic approach, this study intends to find the entire established financing culture between PCBs and SMEs in a new lens beyond the tradition on the basis of two basic questions: “What is the traditional lending culture between PCBs and SMEs” and “What could be potential role of PCBs to develop that culture where focusing on SME financing to PCBs". This study considered formal SME financing in Bangladesh by focusing on SMEs applying for their first loan. Bangladesh is a member country of ADB. The data collection method is semi-structured and we utilized face-to-face interviews with in-depth branch managers, higher officials and owner-managers of SME customers of PCBs and higher officials of SME Foundation and the Bangladesh central bank. Discourse analysis method was used for data analysis on the frame of thematic discussion fully based on participants’ views. The research found that branch managers and loan officers have a high level of power in assessing and financing decision-making. There is a changing attitude in PCB sector in requiring flexible collateral assets. Branch managers (Loan Officers) consider value of business prospect of owner-mangers as complementary of collateral assets. However, the study found the assessment process of business prospect is entirely unstructured and linked with socio-cultural settings that does not support PCBs’ changing manner in terms of collateral requirement. The study redefined and classified collateral assets to include all financing constructs in a structure. The degree of value of the collateral assets determines the degree of business prospects. This study suggested applying an outside classroom-learning paradigm such as “knowledge tour” to enhance the value of the kinds of collateral assets. This is the scope of PCBs in increasing SMEs’ financing eligibility in win-win basis. The findings and proposition could be effective in other ADB member countries and audiences in the field.

Keywords: CCA, financing, information asymmetry, PCA, PCB, financing

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Authors: G. Khasaev, S. Ashmarina , A. Zotova

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The priority of Russian enterprises development has been given to the optimization process of industrial enterprise activity for their sustainable development in a long-term period. The assessment of sustainable development level as one of the most efficient instruments of sustainable development management at the industrial enterprise gives a complex view of its state. In order to perform accurate analysis of the current state of the industrial enterprise, it is necessary to perform the assessment of its sustainable development and using its results to elaborate the further tactic of enterprise functioning. The assessment of sustainable development level of the enterprise may help the effective management of strategy development only if the corresponding indicators system is created. The elaboration and usage the sustainable development indicators allows the enterprise to implement analysis of its activity results and monitoring of sustainable enterprise functioning. The authors’ methods are based on general aspects of the industrial enterprise functioning such as finance, customers, inner economic process, and staff system.

Keywords: assessment methods, indicators system, industrial enterprise, sustainable development

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Authors: Mohammad Yousuf Khan, Bhavya Alankar

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Blockchain is a promising technology with its features such as immutability and decentralized database. It has applications in various fields such as pharmaceutical, finance, & the food industry. At the core of its heart lies its feature, traceability which is the most desired key in supply chains. However, supply chains have always been hit rock bottom by scandals and controversies. In this review paper, we have explored the advancement and research gaps of blockchain technology (BT) in supply chain management (SCM). We have used the Prisma framework for systematic literature review (SLR) and included a minuscule amount of grey literature to reduce publication bias. We found that supply chain traceability and transparency is the most researched objective in SCM. There was hardly any research in supply chain resilience. Further, we found that 40 % of the papers were application based. Most articles have focused on the advantages of BT, rather than analyzing it critically. This study will help identify gaps and suitable actions to be followed for an efficient implementation of BT in SCM.

Keywords: blockchain technology, supply chain management, supply chain transparency, supply chain resilience

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Authors: Etsuo Morishita

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This paper presents the project and experiment-based fluid dynamics education in Meisei University, a private institution in Tokyo, Japan. We pay attention not only to the basic engineering courses but also to the practical aspect of engineering experience. So, we prepare courses called the Projects from I to VI. The Projects I and II are designed for the first year, III and IV are designated for the second year, V and VI are prepared for the third year, respectively. Each supervisor is responsible for two of these projects every year. When students take the Project V and VI at the third year, we automatically assume that these students will join the lab of the project for the graduation thesis. We would like to show our experience in the Project I in the summer term, 2016. In this project, we introduce a traction flight vehicle called Cat Flyer. This is a kind of a kite towed by a car for example. This is very similar to parasailing, but flight is possible even on the roads. Experiments in mechanical engineering education are also very important, and we would like to explain our course on centrifugal pump, venture, and orifice. Although these are described in detail in the text books of fluid dynamics, it is still crucial to have practical experiments as a student.

Keywords: aerodynamics, experiment, fluid dynamics, project

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Authors: Shane R. Jackson

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Gluteal augmentation with fat grafting, commonly referred to as the Brazilian Butt Lift, is the fastest-growing cosmetic surgical procedure, despite the risks and controversy that surrounds it. While many commentators attribute this rise in popularity with current societal trends towards public sharing of private life, the fascination with buttock size is in fact a much older human trait. By searching beyond medical literature and delving into historical sources, from ancient civilisations, through the Renaissance and Victorian eras to the ‘Instagram generation’ of the present day, this paper examines the differences – and similarities – in society’s ideal buttock shape and size. Furthermore, the ways in which these various cultures have altered their appearance to achieve this ideal are also examined, looking at the influence of the broader historical context. A deeper understanding of the historical, cultural and psychosocial factors that influence a patient’s desire for buttock augmentation allows the clinician to formulate a well-rounded surgical plan.

Keywords: augmentation, Brazilian butt lift, buttock, fat graft, gluteal

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Authors: Suyeon Bae, Abimbola Asojo, Denise Guerin, Caren Martin

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Post-occupancy evaluations (POEs) have been recognized for documenting occupant well-being and responses to indoor environmental quality (IEQ) factors such as thermal, lighting, and acoustic conditions. Sustainable Post-Occupancy evaluation survey (SPOES) developed by an interdisciplinary team at a Midwest University provides an evidence-based quantitative analysis of occupants’ satisfaction in office, classroom, and residential spaces to help direct attention to successful areas and areas that need improvement in buildings. SPOES is a self-administered and Internet-based questionnaire completed by building occupants. In this study, employees in three different office buildings rated their satisfaction on a Likert-type scale about 12 IEQ criteria including thermal condition, indoor air quality, acoustic quality, daylighting, electric lighting, privacy, view conditions, furnishings, appearance, cleaning and maintenance, vibration and movement, and technology. Employees rated their level of satisfaction on a Likert-type scale from 1 (very dissatisfied) to 7 (very satisfied). They also rate the influence of their physical environment on their perception of their work performance and the impact of their primary workspaces on their health on a scale from 1 (hinders) to 7 (enhances). Building A is a three-story building that includes private and group offices, classrooms, and conference rooms and amounted to 55,000 square-feet for primary workplace (N=75). Building B, a six-story building, consisted of private offices, shared enclosed office, workstations, and open desk areas for employees and amounted to 14,193 square-feet (N=75). Building C is a three-story 56,000 square-feet building that included classrooms, therapy rooms, an outdoor playground, gym, restrooms, and training rooms for clinicians (N=76). The results indicated that 10 IEQs for Building A except acoustic quality and privacy showed statistically significant correlations on the impact of the primary workspace on health. In Building B, 11 IEQs except technology showed statistically significant correlations on the impact of the primary workspace on health. Building C had statistically significant correlations between all 12 IEQ and the employees’ perception of the impact of their primary workspace on their health in two-tailed correlations (P ≤ 0.05). Out of 33 statistically significant correlations, 25 correlations (76%) showed at least moderate relationship (r ≥ 0.35). For the three buildings, daylighting, furnishings, and indoor air quality IEQs ranked highest on the impact on health. IEQs about vibration and movement, view condition, and electric lighting ranked second, followed by IEQs about cleaning and maintenance and appearance. These results imply that 12 IEQs developed in SPOES are highly related to employees’ perception of how their primary workplaces impact their health. The IEQs in this study offer an opportunity for improving occupants’ well-being and the built environment.

Keywords: post-occupancy evaluation, built environment, sustainability, well-being, indoor air quality

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Authors: Satyajit Kalita

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Assam from an early period has gone through various religious transformations and has witnessed its impact in different period. One of such epoch is the epoch of Srimanta Shankardeva. Srimanta Shankareva is regarded, as the greatest religious preacher and social reformer in the history of Assam. It was Shankardeva, who brought the faith of vaisnavite movement that prevailed in other parts of India. Before and during his time, the people of Assam were followers of Sakta worship, the worshipping of different gods and goddesses. People worshiped idols and offered sacrifices. Srimanta Shankardeva under the faith neo-vaishnavism and propagated the Eka-Saran-Naam-Dharm, through which spread the splendor of one and only Lord Vishnu or Krishna and abolished offering sacrifices. With the help of Eka-Saran-Naam-Dharma, Srimanta Shankardeva tries to vanish the superstitious beliefs and irrational practices of Assamese society. The NeoVaishnavite faith developed a democratic outlook which permeates the entire teachings and practices in Assamese people. His contributions not only made the foundations of Assamese literature, culture, and social structure but also established the super structures the upon. It is understood that all contributions of Srimanta Shankardeva bear his marks distinctively. Religion is said to be biggest and the most influential aspect in bringing about change in the society. In Assam, with the essence of neo-vaishnavism by Shankardeva and the emergence of the Eka-Saran-Naam-Dharma came into a huge Change to the region. The movement of religion brought about a social mobility to all sections of society. This paper is a mere initiative to look into the organizational structure of Srimanta Shankardeva Sangha and its maintenance of the ideology and principles without failure. It is aimed to examine the assimilation of different groups and communities of people under the fold of Srimanta Shankardeva Sangha.

Keywords: Neo-Vaishnavism, Srimanta Shankardeva, Srimanta Shankardeva Shangha, Eka-Saran-Naam-Dharma

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Authors: Naveed Ul Hassan, Bilal Aziz, Maryam Mushtaq, Imran Ameen Khan

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Equity risk premium (ERP) is the stock return in excess of risk free return. Even though it is an essential topic of finance but still there is no common consensus upon its forecasting. For forecasting ERP, apart from the macroeconomic variables attention is devoted to technical indicators as well. For this purpose, set of 14 technical and 14 macro-economic variables is selected and all forecasts are generated based on a standard predictive regression framework, where ERP is regressed on a constant and a lag of a macroeconomic variable or technical indicator. The comparative results showed that technical indicators provide better indications about ERP estimates as compared to macro-economic variables. The relative strength of ERP predictability is also investigated by using National Bureau of Economic Research (NBER) data of business cycle expansion and recessions and found that ERP predictability is more than twice for recessions as compared to expansions.

Keywords: equity risk premium, forecasting, macroeconomic indicators, technical indicators

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Authors: Chrysthia Papacleovoulou

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The era of de-regulation, off-shore and tax haven jurisdictions, and shelf companies has come to an end. The usage of complex corporate structures involving trust instruments, special purpose vehicles, holding-subsidiaries in offshore haven jurisdictions, and taking advantage of tax treaties is soaring. States which raced to introduce corporate friendly legislation, tax incentives, and creative international trust law in order to attract greater FDI are now faced with regulatory challenges and are forced to revisit the corporate form and its tax treatment. The fiduciary services industry, which dominated over the last 3 decades, is now striving to keep up with the new regulatory framework as a result of a number of European and international legislative measures. This article considers the challenges to the company and the corporate form as a result of the legislative measures on tax planning and tax avoidance, CRS reporting, FATCA, CFC rules, OECD’s BEPS, the EU Commission's new transparency rules for intermediaries that extends to tax advisors, accountants, banks & lawyers who design and promote tax planning schemes for their clients, new EU rules to block artificial tax arrangements and new transparency requirements for financial accounts, tax rulings and multinationals activities (DAC 6), G20's decision for a global 15% minimum corporate tax and banking regulation. As a result, states are found in a race of over-regulation and compliance. These legislative measures constitute a global up-side down tax-harmonisation. Through the adoption of the OECD’s BEPS, states agreed to an international collaboration to end tax avoidance and reform international taxation rules. Whilst the idea was to ensure that multinationals would pay their fair share of tax everywhere they operate, an indirect result of the aforementioned regulatory measures was to attack private clients-individuals who -over the past 3 decades- used the international tax system and jurisdictions such as Marshal Islands, Cayman Islands, British Virgin Islands, Bermuda, Seychelles, St. Vincent, Jersey, Guernsey, Liechtenstein, Monaco, Cyprus, and Malta, to name but a few, to engage in legitimate tax planning and tax avoidance. Companies can no longer maintain bank accounts without satisfying the real substance test. States override the incorporation doctrine theory and apply a real seat or real substance test in taxing companies and their activities, targeting even the beneficial owners personally with tax liability. Tax authorities in civil law jurisdictions lift the corporate veil through the public registries of UBO Registries and Trust Registries. As a result, the corporate form and the doctrine of limited liability are challenged in their core. Lastly, this article identifies the development of new instruments, such as funds and private placement insurance policies, and the trend of digital nomad workers. The baffling question is whether industry and states can meet somewhere in the middle and exit this over-regulation frenzy.

Keywords: company, regulation, TAX, corporate structure, trust vehicles, real seat

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Authors: Shuqi Zhang

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Federated learning allows users to participate in collaborative model training without sending data to third-party servers, reducing the risk of user data privacy leakage, and is widely used in smart finance and smart healthcare. However, the distributed architecture design of federation learning itself and the existence of secure aggregation protocols make it inherently vulnerable to backdoor attacks. To solve this problem, the federated learning backdoor defense framework FLEX based on group aggregation, cluster analysis, and neuron pruning is proposed, and inter-compatibility with secure aggregation protocols is achieved. The good performance of FLEX is verified by building a horizontal federated learning framework on the CIFAR-10 dataset for experiments, which achieves 98% success rate of backdoor detection and reduces the success rate of backdoor tasks to 0% ~ 10%.

Keywords: federated learning, secure aggregation, backdoor attack, cluster analysis, neuron pruning

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Authors: Agnieszka Szczudlińska-Kanoś

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Nowadays the participation of citizens in public life increasingly effect on management at all levels of public authority. Today, however, democratic systems in many countries, also in Poland, based on the first - on the institutions of representative democracy, which is mainly on elections, party activity, on the other hand - on the basic instruments of direct democracy, which, in particular, we can include a referendum or initiative of citizenship - although these are often rather complementary. Other forms of participatory democracy, such as deliberative democracy, participatory budgeting, public consultation in practice in many countries are still rare. Appropriate use of the potential invested in participatory democracy can bring enormous and multilateral benefits. On the one hand, local and regional communities taking an active part in public life express their needs, point out problems and thus affect the decisions of public authorities. Authorities using knowledge acquired from the citizens also implement the policy tailored to their needs, thus obtaining support in the next election. The purpose of this study is to show how the Polish citizens affect to resolve issues of social policy pursued at different levels of government. This problem is very important because today the observed changes seen in virtually all fields of life create new social problems, which nowadays are no longer only the problems of the region, the country but they are international, global issues. From such this perspective we should talk about them, discuss, try to solve at all levels. Article will be useful not only theorists involved in the management of the public, local government, or social but also practitioners - local government acting as their functions at different levels of government. Conclusions drawn from the publication will also be useful to politicians and those directly affecting for: functioning social security systems, the scope and quality of public services and the overall shape of the contemporary social policy in different countries.

Keywords: social policy, local government, social participation, social services

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Authors: Safak Baykal

Abstract:

The purpose of this study is analyzing the relationship between self leadership and social capital of people with using Social Network Analysis. In this study, two aspects of social capital will be focused: bonding, homophilous social capital (BoSC) which implies better, strong, dense or closed network ties, and bridging, heterophilous social capital (BrSC) which implies weak ties, bridging the structural holes. The other concept of the study is Trust (Tr), namely interpersonal trust, willingness to ascribe good intentions to and have confidence in the words and actions of other people. In this study, the sample group, 61 people, was selected from a private firm from the defense industry. The relation between BoSC/BrSC and Tr is shown by using Social Network Analysis (SNA) and statistical analysis with Likert type-questionnaire. The results of the analysis show the Cronbach’s alpha value is 0.73 and social capital values (BoSC/BrSC) is highly correlated with Tr values of the people.

Keywords: bonding social capital, bridging social capital, trust, social network analysis (SNA)

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Authors: Dielleza Namani, Laureta Kadrijaj-Qerimi

Abstract:

Neurolinguistics studies the relationship between the brain and language. It is a subject not often found in the syllabus of universities in the Balkans but more spread in Europe and especially the United States of America. The purpose of this study is to see what importance this subject has for studies in the English language department. It contains an analysis of other research papers written regarding neurolinguistics, a questionnaire made for professors and deans at private and public universities in Kosovo, and an interview with a neurolinguistics professor in England. Since this subject is not found in the syllabus of any of the universities in Kosovo, the researchers wanted to find out why this happens but, at the same time, provide reasons why they should consider having it in the future. The results showed that for this subject, there had been researching made, but not enough so far, which gives more information and feedback on why it needs to be in the syllabus, and how linguists can use the knowledge they receive from this subject in their workplace. Also, the professors and deans see this subject as too medical for their students to learn and not necessary for their future jobs. Hopefully, in the near future, there will be more research done on why this is important and how English language students can benefit from it.

Keywords: English language department, neurolinguistics, second language acquisition, teaching methods

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Authors: Carla Michelle Gastelum Knight

Abstract:

In an era where teacher educators and student teachers have almost unrestricted access to all kinds of sources through the internet, a research project carried out with a group of student-teachers has revealed how self-made videos are an exciting new way to motivate and engage students. The project was carried out at Universidad de Sonora, a public university in Northern Mexico, where 39 students of the Bachelor in Arts in English Language Teaching (B.A. in ELT) programme participated creating their own videos. In the process, they worked collaboratively, they exploited their creativity, they were highly motivated and showed more interest in the subject. The videos were shared in a private YouTube channel where students had the opportunity to review their peers’ work and where videos are available at any time for later viewing. This experience has led course instructor to face the challenge of planning and designing meaningful tasks that can and to find ways of exploiting the use of these resources for learning and training purposes.

Keywords: self-made materials, student-teachers, teacher education programme, teacher training

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Authors: Yi-Jung Chen, Yunshi Liu

Abstract:

To explain how followers can perceive whether or not transformational leaders are authentic on the basis of their leadership behaviors based on value-based leadership theory, this study adopts the dual-focus model of transformational leadership and evaluates leaders’ corporate social responsibility values along with followers’ perceptions of leaders’ values. Using dyadic questionnaires, the final study sample consisted of 252 followers and 43 leaders at a private firm in Taiwan. Results show that followers perceive corporate social responsibility values of transformational leaders through their group-focused leadership behaviors because such group-focused leadership is in line with these values.

Keywords: authentic transformational leadership, corporate social responsibility value, value-based leadership theory, dual-focus leadership

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Authors: Abdulmajeed Abdullah Alqarni

Abstract:

This paper is devoted a study of the current frameworks applicable to foreign investments at the levels of domestic and international law, with a particular focus on the legitimate balance to be achieved between the rights of the host state and the legal protections owed to foreign investors. At the wider level of analysis, the paper attempts to map and critically examine the relationship between foreign investment and economic development. In doing so, the paper offers a study in how current discourses and practices on investment law can reconcile the competing interests of developing and developed countries. The study draws on the growing economic imperative for developing nations to create a favorable investment climate capable of attracting private foreign investment. It notes that that over the past decades, an abundance of legal standards that establish substantive and procedural protections for legal forms of foreign investments in the host countries have evolved and crystalized. The study then goes on to offer a substantive analysis of legal reforms at the domestic level in countries such as Saudi Arabia before going on to provide an in- depth and substantive examination of the most important instruments developed at the levels of international law: bilateral investment agreements and double taxation agreements. As to its methods, the study draws on case studies and from data assessing the link between double taxation and economic development. Drawing from the extant literature and doctrinal research, and international and comparative jurisprudence, the paper excavates and critically examines contemporary definitions and norms of international investment law, many of which have been given concrete form and specificity in an ever-expanding number of bilateral and multilateral investment treaties. By reconsidering the wider challenges of conflicts of law and jurisdiction, and the competing aims of the modern investment law regime, the study reflects on how bilateral investment treaties might succeed in achieving the dual aims of rights protection and economic sovereignty. Through its examination of the double taxation phenomena, the study goes on to identify key practical challenges raised by the implementation of bilateral treaties whilst also assessing the sufficiency of the domestic and international legal solutions that are proposed in response. In its final analysis, the study aims to contribute to existing scholarship by assessing contemporary legal and economic barriers to the free flow of investment with due regard for the legitimate concerns and diversity of developing nations. It does by situating its analysis of the domestic enforcement of international investment instrument in its wider historical and normative context. By focusing on the economic and legal dimensions of foreign investment, the paper also aims to offer an interdisciplinary and holistic perspective on contemporary issues and developments in investment law while offering practical reform proposals that can be used to be achieve a more equitable balance between the rights and interests of states and private entities in an increasingly trans nationalized sphere of investment regulation and treaty arbitration.

Keywords: foreign investment, bilateral investment treaties, international tax law, double taxation treaties

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