Search results for: financial history

Authors: Zakieh Rostamzadeh , Nariman Sepehrvand-Zahra Shirmohamadi

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Background: Cytomegalovirus (CMV) infection is one of the most common infectious problems following kidney transplantation. In this study, we are aimed to investigate the CMV infection in the setting of renal transplant recipients in Urmia-Iran, using both ELISA and polymerase chain reaction (PCR) methods. Methods: Ninety-six renal transplant recipients were selected randomly and enrolled in a cross-sectional study. Blood sampling was done via venipuncture, and all sera were investigated for anti-CMV IgM, and the seropositive cases in association with 14 randomly selected seronegative cases were investigated with PCR assay. Results: Thirty-three patients (34.3%) were seropositive for anti-CMV IgM, 3 patients (3.1%) were in borderline range, and 60 patients (62.5%) were seronegative. By considering the patients with borderline anti-CMV IgM levels as seropositive, 37.5% were seropositive for anti-CMV IgM. Among 36 seropositive cases, the CMV infection was confirmed in 19 (52.7%) of them using PCR. Age (P = 0.40), educational status (P = 0.77), history of pre-transplantation dialysis (0.52), history of blood transfusion (P = 0.52), and immunosuppressive regimen were not statistically different among recipients with positive versus negative CMV PCR study results. Conclusion: The seroprevalence of CMV infection was demonstrated to be high in renal transplant recipients of Urmia-Iran. The rate was higher compared to several previous reports in the literature. ELISA method has an appropriate sensitivity to screen the recipients for CMV infection but considering its relatively low specificity, the seropositive cases are better to be confirmed by further PCR study.

Keywords: cytomegalovirus, renal transplantation, ELISA, IgM, PCR

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Authors: Trevor R. Higgins, Ben Lopez

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Australian football fans have a tendency to indulge in foreign football clubs, often assigning a greater value to foreign clubs, in preference to the Australian National football competition; the A-League. There currently exists a gap in the knowledge available in relation to football fans in Australia, their engagement with foreign football teams and the impact that this may have with their engagement with A-League. The purpose of this study was to compare the engagement of the members of the Manchester United Supporters Club - Australia (MUSC-Aus) with Manchester United and the A-League. An online survey was implemented to gather the relevant data from members of the MUSC-Aus. Results from completed surveys were collected, and analyzed in relation to engagement levels with Manchester United and the A-League. Members of MUSC-Aus who responded to the survey were predominantly male (94%) and born in Australia (46%), England (25%), Ireland (7%), were greatly influenced in their choice of Manchester United by family (43%) and team history (16%), whereas location was the overwhelming influence in supporting the A-League (88%). Importantly, there was a reduced level of engagement in the A-League on two accounts. Firstly, only 64% of MUSC-Aus engaged with the A-League, reporting perceptions of low standard as the major reason (50%). Secondly, MUSC-Aus members who engaged in the A-League reported reduced engagement in the A-League, identified through spending patterns. MUSC-Aus members’ expenditure on Manchester United engagement was 400% greater than expenditure on A-League engagement. Furthermore, additional survey responses indicated that the level of commitment towards the A-League overall was less than Manchester United. The greatest impact on fan engagement in the A-League by MUSC-Aus can be attributed to several primary factors; family support, team history and perceptions to on-field performance and quality of players. Currently, there is little that can be done in regards to enhancing family and history as the A-League is still in its infancy. Therefore, perceptions of on-field performances and player quality should be addressed. Introducing short-term international marquee contracts to A-League rosters, across the entire competition, may provide the platform to raise the perception of the A-League player quality with minimal impact on local player development. In addition, a national marketing campaign promoting the success of A-League clubs in the ACL, as well as promoting the skill on display in the A-League may address the negative association with the standard of the A-League competition.

Keywords: engagement, football, perceptions of performance, team

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Authors: Juan Manuel Martinez Alvarez, Michele Chiumenti

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This work explores the benefit of the thermo-metallurgical simulation to tackle the Wire Laser Additive Manufacturing (WLAM) of low-carbon steel components. The Finite Element Analysis is calibrated by process monitoring via thermal imaging and thermocouples measurements, to study the complex thermo-metallurgical behavior inherent to the WLAM process of low carbon steel parts.A critical aspect is the analysis of the heterogeneity in the resulting microstructure. This heterogeneity depends on both the thermal history and the residual stresses experienced during the WLAM process. Because of low carbon grades are highly sensitive to quenching, a high-gradient microstructure often arises due to the layer-by-layer metal deposition in WLAM. The different phases have been identified by scanning electron microscope. A clear influence of the heterogeneities on the final mechanical performance has been established by the subsequent mechanical characterization. The thermo-metallurgical analysis has been used to determine the actual thermal history and the corresponding thermal gradients during the printing process. The correlation between the thermos-mechanical evolution, the printing parameters and scanning sequence has been established. Therefore, an enhanced printing strategy, including optimized process window has been used to minimize the microstructure heterogeneity at ArcelorMittal.

Keywords: additive manufacturing, numerical simulation, metallurgy, steel

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Authors: Prandesha Govender, Chris Cloete

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Purpose: The objective of the paper is to develop a tool for the evaluation of the financial risk of a shopping center. Methodology: Important factors that indicate the success of a shopping center were identified from the available literature. Weights were allocated to these factors and a risk rating was calculated for 505 shopping centers in the largest province in South Africa by taking the factor scores, factor weights, and category weights into account. The ratings for ten randomly selected shopping centers were correlated with consumer feedback and standardized against the ECAI (External Credit Assessment Institutions) data for the same centers. The ratings were also mapped to corporates with the same risk rating to provide a better intuitive assessment of the meaning of the inherent risk of each center. Results: The proposed risk tool shows a strong linear correlation with consumer views and can be compared to expert opinions, such as that of fund managers and REITs. Interpretation of the tool was also illustrated by correlating the risk rating of selected shopping centers to the risk rating of reputable and established entities. Conclusions: The proposed Shopping Centre Risk Tool, used in conjunction with financial inputs from the relevant center, should prove useful to an investor when the desirability of investment in or expansion, renovation, or purchase of a shopping center is being considered.

Keywords: risk, shopping centres, risk modelling, investment, rating tool, rating scale

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Authors: Adel Fatima Zohra, Guendouz Abdelkader

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The solitary sector seems to appear nowadays as a third sector along the private and public ones, because of their ineptitude to take in charge the social exigency of the society regarding the lack in their local assets and the weakness of their financial institutions. The role of this sector is promoting a set of activities in the field of the charity, without aiming neither the individual profit nor a power practice. With the rise in the need of domestic resources, it is possible to count on the Zakat funding to realize some investment projects in order to develop the local society in many sectors as health, agriculture … etc. In the Islamic financial system, the Zakat is likely one of the most important instruments in financing the local development with the respect of the “Charia” rules: the amount of the Zakat is 2.5% of a wealth equivalent of each 85 gr of gold possessed since one year at least. In Algeria a fund of Zakat, was created since 2003 as an alternative to the public finding of development. This fund is a religious and social institution under the supervision of the ministry of religious affairs. This supervision covers two tasks: the first is traditional witch concern the distribution and the forwarding of the zakat to the poor people, and the second is modern concerning the financing of microcredits in the aim to enhance social and economic development. In this paper, we try to highlight the main role of the Zakat fund and its impact on the both social and economic development in Algeria.

Keywords: dogmatic instrument, solidary sector, zakat fund, micro project

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Authors: Hyo Jung Lee

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The purpose of this study is to develop a literature appreciation education program for classic literatures and apply them to the field, and to derive the achievements and improvement points. Classic literature is a work of value recognized in the context of literature history and culture history, and learners can develop interest in literature and inherit tradition through appreciation of classic literature. However, in Korean educational environment, classic literature is a means for college entrance examination, and many learners analyze contents and language in textbooks and concentrate on memorizing the whole plot. This study is one of the reasons that classic literature appreciation education is not done properly and it is not able to give an opportunity to appreciate the whole work in the early learning stage. In Korean primary education, classic literature is used as a means to achieve the goals of reading, writing, speaking and listening, rather than being used as a material for its own appreciation. It is problematic to make the piece appreciation experience fragmentary. This study proposes a program to experience classic literatures by linking school education and school library with primary school students in grades 4-6. We work with local primary schools (siheung-si, gyeonggi-do, Korea) to provide appropriate activities and rewards to learners, observe their participation, and introduce student learning outcomes. Through this, we are able to systematically improve the learner 's ability to appreciate the literature and to diversify primary education.

Keywords: classic literature education, primary education, out-of-school program, learning by appreciation experience

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Authors: Jill Round

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In the economic system, the financial sector plays a crucial role as an intermediary between market participants, other financial institutions, and customers. Financial institutions such as banks have to make decisions to satisfy the demands of all the participants by keeping abreast of regulatory change. In recent years, progress has been made regarding frameworks, development of rules, standards, and processes to manage risks in the banking sector. The increasing focus of regulators and policymakers placed on risk management, corporate governance, and the organization’s culture is of special interest as it requires a well-resourced risk controlling function, compliance function, and internal audit function. In the past years, the relevance of these functions that make up the so-called Three Lines of Defense has moved from the backroom to the boardroom. The approach of the model can vary based on the various organizational characteristics. Due to the intense regulatory requirements, organizations operating in the financial sector have more mature models. In less regulated industries there is more cloudiness about what tasks are allocated where. All parties strive to achieve their objectives through the effective management of risks and serve the identical stakeholders. Today, the Three Lines of Defense model is used throughout the world. The research looks at trends and emerging issues in the professions of the Three Lines of Defense within the banking sector. The answers are believed to helping to explain the increasing regulatory requirements for the banking sector. While the number of supervisory practices increases the risk management requirements intensify and demand more regulatory compliance at the same time. The Structural Equation Modeling (SEM) is applied by making use of conducted surveys in the research field. It aims to describe (i) the theoretical model regarding the applicable linearity relationships, (ii) the causal relationship between multiple predictors (exogenous) and multiple dependent variables (endogenous), (iii) taking into consideration the unobservable variables and (iv) the measurement errors. The surveys conducted on the research field suggest that the observable variables are caused by various latent variables. The SEM consists of the 1) measurement model and the 2) structural model. There is a detectable correlation regarding the cause-effect relationship among the performed supervisory practices and the increasing scope of regulation. Supervisory practices reinforce the regulatory density. In the past, controls were placed after supervisory practices were conducted or incidents occurred. In further research, it is of interest to examine, whether risk management is proactive, reactive to incidents and supervisory practices or can be both at the same time.

Keywords: risk management, structural equation model, supervisory practice, three lines of defense

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Authors: Wu Liching

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Aim This case aims to discuss the pathogenesis, clinical manifestations and medical treatment of strokes caused by mitochondrial gene mutations. Methods Diagnosis of ischemic stroke caused by mitochondrial gene defect by means of "next-generation sequencing mitochondrial DNA gene variation detection", imaging examination, neurological examination, and medical history; this study took samples from the neurology ward of a medical center in northern Taiwan cases diagnosed with acute cerebral infarction as the research objects. Result This case is a 49-year-old married woman with a rare disease, mitochondrial gene mutation inducing ischemic stroke. She has severe hearing impairment and needs to use hearing aids, and has a history of diabetes. During the patient’s hospitalization, the blood test showed that serum Lactate: 7.72 mmol/L, Lactate (CSF) 5.9 mmol/L. Through the collection of relevant medical history, neurological evaluation showed changes in consciousness and cognition, slow response in language expression, and brain magnetic resonance imaging examination showed subacute bilateral temporal lobe infarction, which was an atypical type of stroke. The lineage DNA gene has m.3243A>G known pathogenic mutation point, and its heteroplasmic level is 24.6%. This pathogenic point is located in MITOMAP and recorded as Mitochondrial Encephalopathy, Lactic Acidosis, and Stroke-like episodes (MELAS) , Leigh Syndrome and other disease-related pathogenic loci, this mutation is located in ClinVar and recorded as Pathogenic (dbSNP: rs199474657), so it is diagnosed as a case of stroke caused by a rare disease mitochondrial gene mutation. After medical treatment, there was no more seizure during hospitalization. After interventional rehabilitation, the patient's limb weakness, poor language function, and cognitive impairment have all improved significantly. Conclusion Mitochondrial disorders can also be associated with abnormalities in psychological, neurological, cerebral cortical function, and autonomic functions, as well as problems with internal medical diseases. Therefore, the differential diagnoses cover a wide range and are not easy to be diagnosed. After neurological evaluation, medical history collection, imaging and rare disease serological examination, atypical ischemic stroke caused by rare mitochondrial gene mutation was diagnosed. We hope that through this case, the diagnosis of rare disease mitochondrial gene variation leading to cerebral infarction will be more familiar to clinical medical staff, and this case report may help to improve the clinical diagnosis and treatment for patients with similar clinical symptoms in the future.

Keywords: acute stroke, MELAS, lactic acidosis, mitochondrial disorders

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Authors: Mohamad Amin Amini, Mehdi Poursha

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Nonlinear response history analysis (NL-RHA) is a robust analytical tool for estimating the seismic demands of structures responding in the inelastic range. However, because of its conceptual and numerical complications, the nonlinear static procedure (NSP) is being increasingly used as a suitable tool for seismic performance evaluation of structures. The conventional pushover analysis methods presented in various codes (FEMA 356; Eurocode-8; ATC-40), are limited to the first-mode-dominated structures, and cannot take higher modes effect into consideration. Therefore, since more than a decade ago, researchers developed enhanced pushover analysis procedures to take higher modes effect into account. The main objective of this study is to propose an enhanced invariant lateral displacement distribution to take higher modes effect into consideration in performing a displacement-based pushover analysis, whereby a set of laterally applied displacements, rather than forces, is monotonically applied to the structure. For this purpose, the effect of different parameters such as the spectral displacement of ground motion, the modal participation factor, and the effective modal participating mass ratio on the lateral displacement distribution is investigated to find the best distribution. The major simplification of this procedure is that the effect of higher modes is concentrated into a single invariant lateral load distribution. Therefore, only one pushover analysis is sufficient without any need to utilize a modal combination rule for combining the responses. The invariant lateral displacement distribution for pushover analysis is then calculated by combining the modal story displacements using the modal combination rules. The seismic demands resulting from the different procedures are compared to those from the more accurate nonlinear response history analysis (NL-RHA) as a benchmark solution. Two structures of different heights including 10 and 20-story special steel moment resisting frames (MRFs) were selected and evaluated. Twenty ground motion records were used to conduct the NL-RHA. The results show that more accurate responses can be obtained in comparison with the conventional lateral loads when the enhanced modal lateral displacement distributions are used.

Keywords: displacement-based pushover, enhanced lateral load distribution, higher modes effect, nonlinear response history analysis (NL-RHA)

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Authors: Haroon Mahmood, Christopher Gan, Cuong Nguyen

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Maturity transformation risk is highlighted as one of the major causes of recent global financial crisis. Basel III has proposed new liquidity regulations for transformation function of banks and hence to monitor this risk. Specifically, net stable funding ratio (NSFR) is introduced to enhance medium- and long-term resilience against liquidity shocks. Islamic banking is widely accepted in many parts of the world and contributes to a significant portion of the financial sector in many countries. Using a dataset of 68 fully fledged Islamic banks from 11 different countries, over a period from 2005 – 2014, this study has attempted to analyze various factors that may significantly affect the maturity transformation risk in these banks. We utilize 2-step system GMM estimation technique on unbalanced panel and find bank capital, credit risk, financing, size and market power are most significant among the bank specific factors. Also, gross domestic product and inflation are the significant macro-economic factors influencing this risk. However, bank profitability, asset efficiency, and income diversity are found insignificant in determining the maturity transformation risk in Islamic banking model.

Keywords: Basel III, Islamic banking, maturity transformation risk, net stable funding ratio

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Authors: Niloofar Yousefi, Marie Alaghband, Ivan Garibay

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With the increase of credit card usage, the volume of credit card misuse also has significantly increased, which may cause appreciable financial losses for both credit card holders and financial organizations issuing credit cards. As a result, financial organizations are working hard on developing and deploying credit card fraud detection methods, in order to adapt to ever-evolving, increasingly sophisticated defrauding strategies and identifying illicit transactions as quickly as possible to protect themselves and their customers. Compounding on the complex nature of such adverse strategies, credit card fraudulent activities are rare events compared to the number of legitimate transactions. Hence, the challenge to develop fraud detection that are accurate and efficient is substantially intensified and, as a consequence, credit card fraud detection has lately become a very active area of research. In this work, we provide a survey of current techniques most relevant to the problem of credit card fraud detection. We carry out our survey in two main parts. In the first part, we focus on studies utilizing classical machine learning models, which mostly employ traditional transnational features to make fraud predictions. These models typically rely on some static physical characteristics, such as what the user knows (knowledge-based method), or what he/she has access to (object-based method). In the second part of our survey, we review more advanced techniques of user authentication, which use behavioral biometrics to identify an individual based on his/her unique behavior while he/she is interacting with his/her electronic devices. These approaches rely on how people behave (instead of what they do), which cannot be easily forged. By providing an overview of current approaches and the results reported in the literature, this survey aims to drive the future research agenda for the community in order to develop more accurate, reliable and scalable models of credit card fraud detection.

Keywords: Credit Card Fraud Detection, User Authentication, Behavioral Biometrics, Machine Learning, Literature Survey

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Authors: Korbi Fakhri

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The management of assets and liability is a vital task for every bank as far as a good direction allows its stability; however, a bad running forewarns its disappearance. Equity of a bank is among the most important rubrics in the liability side because, actually, these funds ensure three notably primordial functions for the survival of the bank. From one hand, equity is useful to bankroll the investments and cover the unexpected losses. From another hand, they attract the fund lessors since they inspire trust. So we are going to tackle some points including whether equity of the Islamic banks are oversized. In spite of the efforts made on the subject, the relationship between the capital and the deficiency probability has not been defined with certainty. In this article, we have elaborated a study over the nature of financial intermediation in Islamic banks by comparison to those of conventional ones. We have found a striking difference between two kinds of intermediation. We tried, from another side, to study the relationship between the capital level and deficiency risk relying on econometric model, and we have obtained a positive and significant relation between the capital and the deficiency risk for the conventional banks. This means that when the capital of these banks increases, the deficiency risk increases as well. In return, since the Islamic banks are constrained to respect the Sharia Committee as well as customers’ demands who may, in certain contracts, choose to invest their capitals in projects they are interested in. These constraints have as effects to reduce the deficiency risk even when the capital increases.

Keywords: Islamic bank, conventional bank, deficiency risk, financial intermediation

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Authors: Erindi Allaj

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This paper studies arbitrage pricing theory in financial markets with transaction costs. We extend the existing theory to include the more realistic possibility that the price at which the investors trade is dependent on the traded volume. The investors in the market always buy at the ask and sell at the bid price. Transaction costs are composed of two terms, one is able to capture the implicit transaction costs and the other the price impact. Moreover, a new definition of a self-financing portfolio is obtained. The self-financing condition suggests that continuous trading is possible, but is restricted to predictable trading strategies which have left and right limit and finite quadratic variation. That is, predictable trading strategies of infinite variation and of finite quadratic variation are allowed in our setting. Within this framework, the existence of an equivalent probability measure is equivalent to the absence of arbitrage opportunities, so that the first fundamental theorem of asset pricing (FFTAP) holds. It is also proved that, when this probability measure is unique, any contingent claim in the market is hedgeable in an L2-sense. The price of any contingent claim is equal to the risk-neutral price. To better understand how to apply the theory proposed we provide an example with linear transaction costs.

Keywords: arbitrage pricing theory,
transaction costs, fundamental theorems of arbitrage, financial markets

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Authors: Paula Pita-Galán

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In 1920 Georgiana Goddard King, an Art Historian and Professor at Bryn Mawr College (PA, USA), published The Way of Saint James (New York: P.G. Putnam’s Sons), one of the earliest modern guides of this pilgrimage route. In its three volumes, the author described the towns and villages crossed by the Camino, talking about the history, traditions, monuments, and the people that she had met during her own pilgrimage together with the photographer Edith H. Lowber. The two women walked the route from Toulouse to Santiago in several journeys that took place between 1911 and 1914, travelling with funds of the Hispanic Society of New York. The cultural interest that motivated the journey explains how King intertwines in her narration history, anthropology, geography, art history, and religion, giving; as a result, the book targeted intellectuals, curious travelers, and tourist rather than pilgrims in a moment in which the pilgrimage to Santiago had almost disappeared as a practice. The Way of Saint James is barely known nowadays, so the aim of this research is disseminate it, focusing on the modernity of its approach and pointing at the link that it has with Georgiana King’s understanding of art as a product of the culture and civilization that produces it. In this paper, we will analyze The Way of Saint James in its historiographical context as it was written during the rise of the interest on Spain and its culture in the United States of America; paying special attention on the relationship of the author with the Hispanic Society and sir Archer Milton Huntington. On the other hand, we will look into Georgiana Goddard King’s work as an scholar by analyzing her works and the personal papers (letters, notes, and manuscripts) that she left in Bryn Mawr College, where I have been researching with a Fulbright grant. As a result, we will understand the pioneer approach of this unique guide of the Way of Saint James as a reflection of Georgiana King’s own modernity as an scholar. The wide cultural interests of King gave, as a result, a guide that offers a transversal knowledge of The Way of Saint James, together with King’s impressions and experiences, in the same way of current guides but far from the ‘objective’ and formalist methodology followed by her colleagues. This kind of modernity was badly understood at her time and helped the oblivion of this book as well as her author.

Keywords: georgiana goddard king, the way of saint james, pilgrimage, cultural heritage, guide

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Authors: Chandan M. S., Darshan G. A., Vyshnavi, Abhishek T.

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In the evolving world of technology and digital assets, non-fungible tokens (NFTs) have emerged as the latest advancement. These digital assets represent ownership of intangible items and hold significant value. Unlike cryptocurrencies, like Ethereum or Bitcoin, NFTs cannot be exchanged due to their nature. Each NFT has an indivisible value. NFTs not only pave the way for financial services but also open up fresh opportunities for creators, buyers and artists. To revolutionize financing in the DeFi space, this proposed approach utilizes NFTs generated from digital arts. By eliminating intermediaries, this innovative method ensures trust and security in transactions. The idea entails automating borrower-lender interactions through contracts while securely storing data using blockchain technology. Borrowers can obtain funding by leveraging assets such as estate, artwork and collectibles that are often illiquid. The key component of this system is contracts that independently execute lending agreements and collateral transfers within predefined parameters. By leveraging the Ethereum blockchain, this project aims to provide consumers with access to a platform offering a wide range of financial services. The demonstration illustrates how NFT lending and borrowing is managed through contracts, providing a secure and trustworthy transaction environment.

Keywords: blockchain, defi, NFT, ethereum, marketplace

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Authors: H. Bahbahani, H. Musa, F. Al Mathen

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The dromedary camels (Camelus dromedarius) are single-humped even-toed ungulates populating the African Sahara, Arabian Peninsula, and Southwest Asia. The genome of this desert-adapted species has been minimally investigated using autosomal microsatellite and mitochondrial DNA markers. In this study, the genomes of 33 dromedary camel samples from different parts of the Arabian Peninsula were sequenced using Illumina Next Generation Sequencing (NGS) platform. These data were combined with Genotyping-by-Sequencing (GBS) data from African (Sudanese) dromedaries to investigate the genomic relationship between African and Arabian Peninsula dromedary camels. Principle Component Analysis (PCA) and average genome-wide admixture analysis were be conducted on these data to tackle the objectives of these studies. Both of the two analyses conducted revealed phylogeographic distinction between these two camel populations. However, no breed-wise genetic classification has been revealed among the African (Sudanese) camel breeds. The Arabian Peninsula camel populations also show higher heterozygosity than the Sudanese camels. The results of this study explain the evolutionary history and migration of African dromedary camels from their center of domestication in the southern Arabian Peninsula. These outputs help scientists to further understand the evolutionary history of dromedary camels, which might impact in conserving the favorable genetic of this species.

Keywords: dromedary, genotyping-by-sequencing, Arabian Peninsula, Sudan

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Authors: Chong Zhang, Mu-Xuan Tao

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In several earthquakes, numerous reinforced concrete (RC) frames subjected to seismic excitation demonstrated a collapse pattern characterized by column hinges, though designed according to the Strong-Column-Weak-Beam (S-C-W-B) criteria. The effect of biaxial seismic excitation on the disparity between design and actual performance is carefully investigated in this article. First, a modified load contour method is proposed to derive a closed-form equation of biaxial bending moment strength, which is verified by numerical and experimental tests. Afterwards, a group of time history analyses of a simple frame modeled by fiber beam-column elements subjected to biaxial seismic excitation are conducted to verify that the current S-C-W-B criteria are not adequate to prevent the occurrence of column hinges. A biaxial over-strength factor is developed based on the proposed equation, and the reinforcement of columns is appropriately amplified with this factor to prevent the occurrence of column hinges under biaxial excitation, which is proved to be effective by another group of time history analyses.

Keywords: biaxial bending moment capacity, biaxial seismic excitation, fiber beam model, load contour method, strong-column-weak-beam

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Authors: Reham Barakat

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Over the last few decades, the influence of International Financial Institutions (IFIs), especially the World Bank (WB), has significantly increased. Since the early 1980s, IFIs have assumed greater role, especially in developing countries; their total lending has dramatically increased, affecting billions of people in their Borrower States. Though the purpose of the development assistance provided by IFIs is to alleviate poverty and promote economic and social development in their member countries, IFIs have been subject to massive criticism by civil society institutions, international NGOs and local communities for the harmful environmental, social and economic impacts resulting from their development interventions in borrower countries, such as deforestation, displacement of indigenous peoples, and unemployment. While the role of IFIs has expanded over time, affecting billions of people, their accountability mechanisms remained behind and were criticized for lacking sufficient independency and enforceability. The serious adverse environmental impacts of the World Bank’s funded projects, along with their weak accountability mechanisms, raises the question of 'To what extent IFIs should be held internationally responsible for the harmful environmental consequences arising from their development interventions?'. This paper argues that IFIs are legally responsible for the harmful environmental consequences arising from their development interventions. The study (i) identifies the applicable laws and relevant primary rules from which the international environmental obligations of IFIs towards their borrower countries are derived (ii) assesses the World Bank’s compliance to the principles of the International Environmental Law including the precautionary principle, the polluter pays principle, and the principle of Good-Neighborliness, (iii) assesses the World Bank’s current internal accountability mechanisms for harmful environmental impacts resulting from the World Bank’s funded projects, and finally (iv) identifies the appropriate dispute settlement mechanisms to which states and non-state actors could raise their claims against IFIs for harmful environmental consequences arising from their interventions.

Keywords: international environmental law, international financial institutions, international responsibility, world bank, environmental and social safeguards

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Authors: Galih Permana, Yuskar Lase

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In recent years, damping device has been experimentally studied to replace diagonally reinforced coupling beams, to mitigate rebar congestion problem. This study focuses on evaluating the effectiveness of various damping devices in a high-rise building. The type of damping devices evaluated is Viscoelastic Damper (VCD) and Rotational Friction Damper (RFD), with study case of a 15-story reinforced concrete apartment building with a dual system (column-beam and shear walls). The analysis used is a nonlinear time history analysis with 11 pairs of ground motions matched to the Indonesian response spectrum based on ASCE 41-17 and ASCE 7-16. In this analysis, each damper will be varied with a different position, namely the first model, the damper will be installed on the entire floor and in the second model, the damper will be installed on the 5th floor to the 9th floor, which is the floor with the largest drift. The results show that the model using both dampers increases the level of structural performance both globally and locally in the building, which will reduce the level of damage to the structural elements. But between the two dampers, the coupling beam that uses RFD is more effective than using VCD in improving building performance. The damper on the coupling beam has a good role in dissipating earthquakes and also in terms of ease of installation.

Keywords: building, coupling beam, damper, nonlinear time history analysis

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Authors: Lucy Novianti

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The purpose of this study is to determine the effect of corporate governance, ownership structure, and cash holdings on firm value, either direct or indirect through profitability as an intervening variable for non-financial companies listed on the Indonesia Stock Exchange during 2006 to 2014. Samples of 176 firms are chosen based on purposive sampling method. The results of this study conclude that profitability, the size of Audit Committee, audit quality, and cash flow have positive effects on firm value. This study also shows that the meeting frequency of the Board of Directors and free cash flow have negative effects on firm value. In addition, this study finds that the size of the Board of Directors, Independent Commissioner, and ownership structure do not have significant effects on firm value. In this study, the function of profitability as an intervening variable can only be done on the impact of the meeting frequency of the Board of Directors and cash flow on firm value. This study provides a reference for management in decision making concerning the application of corporate governance, cash holdings, and financial performance. Moreover, it can be used as additional information for investors in assessing the feasibility of an investment. Finally, it provides a suggestion for the government regarding the regulation of corporate governance.

Keywords: cash holdings, corporate governance, firm value, ownership structure, profitability

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Authors: Vamsi G.

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Majority of the modern-day structures have less aesthetical value with minimum requirements set by foreign tribes. Numerous elements of traditional architecture can be incorporated into modern designs using appropriate principles to improve and enhance the functionality, aesthetics, and usability of any space. This paper reviews the diminishing ancient values of the traditional Islamic architecture. By introducing them into the modern-day structures like commercial, residential and recreational spaces in at least the Islamic states, the functionality of those spaces can be improved. For this, aspects like space planning, aesthetics, scale, hierarchy, value, and patterns are to be experimented with modern day structures. Case studies of few ancient Islamic architectural marvels are done to elaborate the whole. A brief analysis of materials and execution strategies are also a part of this paper. The analysis is formulated and is ready to design or redesign spaces using traditional Islamic principles and Elements of design to improve the quality of the architecture of modern day structures by studying the ancient Islamic architectural theories. For this, sources from the history and evolution of this architecture have been studied. Also, elements and principles of design from case studies of various mosques, forts, tombs, and palaces have been tabulated. All this data accumulated, will help revive the elements decorated by ancient principles in functional and aesthetical ways. By this, one of the most astonishing architectural styles can be conserved, reinstalled into modern day buildings and remembered.

Keywords: ancient architecture, architectural history, Islamic architecture, principles and elements

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Authors: Elham Fakhrpoor, Daryush Mohammadi Zanjirani, Maziyar Nojaba

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Business process reengineering is one of the most important strategies in banks in recent years that not only it increases customers’ satisfaction, but also it increases performance of banks. The purpose of elementary (initial) business process reengineering is reinforcing banks abilities to obtain new customers and making long-term relationships with existed customers and increasing customers’ satisfaction among service quality in global level. Banks specially the private ones are the main streams of state, because cash flow is necessary to survive a state. What guarantees survival and permanency of financial institutes’ activities is providing favorite, certain, and proper services. Capital market being small and state financial system being bank-oriented needs optimum usage from banks. According to this fact and role and importance of developing banking system, the present study tried to offer a constructed model using Lisrel and also spss software to evaluate effects of business process reengineering on performance of private banks. We have one min hypothesis and four sub-hypotheses. The main hypothesis says reengineering factors have positive effects on bank performances (balanced- scores card aspects). These hypotheses were tested by structural equations modeling.

Keywords: effect, business, reengineering, private bank

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Authors: Pauliasi Tony Fakahau

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This paper provides an overview of the impact of the revenue reform programme on vulnerable communities in the Kingdom of Tonga. Economic turmoil and mismanagement during the late 1990s forced the government to seek technical and financial assistance from the Asian Development Bank to undertake a comprehensive Economic and Public Sector Reform (EPSR) programme. The EPSR is a Western model recommended by donor agencies as the solution to Tonga’s economic challenges. The EPSR programme included public sector reform, private sector growth, and revenue generation. Tax reform was the main tool for revenue generation, which set out to strengthen tax compliance and administration as well as implement a value-added consumption tax. The EPSR is based on Western values and ideology but failed to recognise that Tongan cultural values are important to the local community. Two participant groups were interviewed. Participant group one consisted of 51 people representing vulnerable communities. Participant group two consisted of six people from the government and business sector who were from the elite of Tongan society. The Kakala Research Methodology provided the framework for the research, and the Talanoa Research Method was used to conduct semi-structured interviews in the homes of the first group and in the workplaces of the second group. The research found a heavy burden of the consumption tax on the purchasing power of participant group one (vulnerable participants), having an impact on nearly every financial transaction they made. Participant group ones’ main financial priorities were kavenga fakalotu (obligations to the church), kavenga fakafāmili (obligations to the family) and kavenga fakafonua (obligations to cultural events for the village, nobility, and royalty). The findings identified inequalities of the revenue reform, especially from consumption tax, for vulnerable people and communities compared to the elite of society. The research concluded that government and donor agencies need ameliorating policies to reduce the burden of tax on vulnerable groups more susceptible to the impact of revenue reform.

Keywords: tax reform, tonga vulnerable community revenue, revenue reform, public sector reform

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Authors: Kristin Murray

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The proposed paper exams prologues in 20th and 21st century American literature in order to show how Native American writer Tommy Orange’s Prologue in his 2018 novel There, Thereis different. In an interview about his 2018 novel There, There, explains he feels “a kind of burden to catch the general reader up with what really happened, because history has got it so wrong and still continue to” (Laubernds). Orange, thus, includes a “Prologue” in his novel to do this work, catching readers upon Native Americans and their history. Prologues are usually from the narrator’s voice, a character’s voice, or even from a fictionalized version of the author, but the tone of Orange’s “Prologue” is that of a non-fictional first-person essayist. Examining prologues in American literature posits Orange’s prologue outside the norm. This paper also examines other introductory sections, the preface, in particular. The research and examination reveal that Orange is adding his personal voice in the Prologue to the multiple narratorsof the novel, and his is the voice of a writer who knows that his audience comes to his novel with a plethora of misinformation. The truths he tells are horrifying and hopeful. He tells of Thanksgiving as a “land deal” and a “successful massacre,” but he also tellsreaders how urban Indians have found a sense of the land, even through concrete. Native American writers contributed and still contribute to the genre of autobiography in ways that have changed our understanding of this genre. This examination of Orange’s Prologue reveals the new and unexpected way to view this often under-examined introductory section, the prologue.

Keywords: native american literature, prologues, prefaces, 20th century american literature

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Authors: Abhishikta Ghosh Roy

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Breast cancer is the most common malignancy among women globally, including India. Human breast cancer results from the genetic and environmental interaction. The present study attempts to understand the molecular heterogeneity of BRCA1 and BRCA2 genes, as well as to understand the association of various lifestyle and reproductive variables for the Breast Cancer risk. The study was conducted amongst 110 patients and 128 controls with total DNA sequencing of flanking and coding regions of BRCA1 BRCA2 genes that revealed ten Single Nucleotide Polymorphisms (SNPs) (6 novels). The controls selected for the study were age, sex and ethnic group matched. After written and informed consent biological samples were collected from the subjects. After detailed molecular analysis, significant (p < 0.005) molecular heterogeneity is revealed in terms of SNPs in BRCA1 (4 Exonic & 1 Intronic) and BRCA2 (2exonic and 3 Intronic) genes. The augmentation study investigated significant (p < 0.05) association with positive family history, early age at menarche, irregular menstrual periods, menopause, prolong contraceptive use, nulliparity, history of abortions, consumption of alcohol and smoking for breast cancer risk. To the best of authors knowledge, this study is the first of its kind, envisaged that the identification of the SNPs and modification of the lifestyle factors might aid to minimize the risk among the Bengalee Hindu females.

Keywords: breast cancer, BRCA, lifestyle, India

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Authors: Ilhan Keskin, Hasan Bulent Kantarci

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In this study, one of the tools of Islamic financing known as “Sukuk” a non-interest bearing investment which has started to be implemented in Turkey and the world as a whole is discussed. In order to increase the vitality and efficiency of the economy, by taking lessons from the recent economic crisis new developments in the banking and investment sector are being expanded. The purpose of all investors is to obtain more revenue through the use of capital. The inability of traditional investment tools to meet the expectations of investors and the interest based financial system where one investor benefits at the expense of another there has been the need for a different, reliable and non-interest bearing financial market that is consistent with the Islamic rule. As a result an alternative and more reliable interest free financing tool “Sukuk” rental certificates covering people who are sensitive to Islamic rules, appeal to all segments, hidden remaining capital that contributes to the economy, reduce disparities in income distribution, common risk sharing system of profit and loss sharing has emerged. Today, for the structural countries by examining the state of the world market economy the applicability, enactment and future issues associated with this attractive kind of Islamic finance namely the “Sukuk” market has been explained.

Keywords: Islamic finance, islamic markets, non-interest bearing, rental certificates

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Authors: Shameka Stanford

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This presentation will discuss how cognitive and communication disorders in the areas of executive functioning, receptive and expressive language can impact the problem-solving and decision making of individuals with such impairments. More specifically, this presentation will discuss approaches the legal defense team of capital case lawyers can add to their experience when servicing individuals who have a history of educational decline, special education, and limited intervention and treatment. The objective of the research is to explore and identify the correlations between impaired executive function skills and decision making and competency for individuals facing death penalty charges. To conduct this research, experimental design, randomized sampling, qualitative analysis was employed. This research contributes to the legal and criminal justice system related to how they view, defend, and characterize, and judge individuals with documented cognitive and communication disorders who are eligible for capital case charges. More importantly, this research contributes to the increased ability of death penalty lawyers to successfully defend clients with a history of academic difficulty, special education, and documented disorders that impact educational progress and academic success.

Keywords: communication disorders, cognitive disorders, capital murder, death penalty, executive function

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Authors: Mukesh Ranjan

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Applying probit model on the micro data of NSS 71st round on education for understanding the access to education post the passage of Right to Education act,2009 in India. The empirical analysis shows that at all India level the mean age of enrollment in school is 5.5 years and drop-out age is around 14 years (or studied up to class 7) and around 60 percent females never get enrolled in any school in their lifetime. Nearly 20 percent children in Bihar never seen school and surprisingly, the relatively developed states like Gujarat, Maharashtra, Karnataka, Kerala and Tamil Nadu have more than one-third of the children and half of the children in Andhra Pradesh, West Bengal and Orissa as educationally wasted. The relative contribution in educational wastage is maximum by Bengal (10 %) while UP contributed a maximum of 30 % in educational non-enrollment in the country. Educational wastage is more likely to increase with age. Marriage is a resistive factor in getting education. Muslims are educationally more deprived than Hindus. Larger family and rich household are less likely to be educationally deprived. Major reasons for drop-out until 9 years were lack of interest in education and financial constraint; between 10-12 years, lack of interest and unable to cope up with studies and post 12 years financial constraint, marriage and other household reasons.

Keywords: probit model, educational wastage, educational non-enrollment, educational deprivation

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Authors: Yorgos Darlas

Abstract:

This original research aims at creating a wine tourism experience specially designed for Thessaloniki, based on retsina, a traditional Greek wine produced continuously since 5400 BC. Wine is a staple of the Greek dinner table, and this is particularly true for Thessaloniki, a city with a rich culinary tradition member of the UNESCO Creative Cities Network for gastronomy. Our methodology is based on historical and folklore research in order to shed light on the history and culture around the production and enjoyment of wine. In addition, we use quantitative and qualitative market research with the aim of recording modern habits and trends related to wine enjoyment. The above research has revealed the habits, rules, and rituals of the people of Thessaloniki, demonstrating the close link between the city’s culinary heritage and retsina. Thanks to this close link, the people of the city have a strong emotional bond with retsina, always ready to share a relevant story loaded with memories. Based on the findings of the research, our aim is to create a new wine tourism product for Thessaloniki based on storytelling. This wine tourism experience will provide visitors with the opportunity to discover the city through the personal stories of locals. At the same time, they will be acquainted with the history and the culture of retsina by visiting landmarks associated with its production and consumption and discovering the city’s multifaceted gastronomic heritage through pairings with retsina.

Keywords: retsina, Thessaloniki, wine tourism, marketing, storytelling

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Authors: Seongryong Kang, Woonjin Kim, Sungjoo Lee

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Under the environment of fierce competition and globalized economy, international technology collaboration has gained increasing attention as a way to improve innovation efficiency. While international technology transfer helps a firm to acquire necessary technology in a short period of time, it also has a risk; embedding external technology from overseas partners may cause a transaction cost due to the regional, cultural and language barriers, which tend to offset the benefits of such transfer. Though a number of previous studies have focused on the effects of technology in-transfer on firm performance, few have conducted in the context of international technology transfer. To fill this gap, this study aims to investigate the impact of international technology in-transfer on firm performance – both innovation and financial performance, with a particular emphasis on the diversity and intensity of such transfer. To do this, we adopted technology balance payment (TBP) data of Korean firms from 2010 to 2011, where an intermediate regression analysis was used to identify the intermediate effects of absorptive capacity. The analysis results indicate that i) the diversity and intensity of international technology transfer influence innovation performance by improving R&D capability positively; and ii) the diversity has a positive impact but the intensity has a negative impact on financial performance through the intermediation of R&D intensity. The research findings are expected to provide meaningful implications for establishing global technology strategy and developing policy programs to facilitate technology transfer.

Keywords: diversity, intensity, international technology acquisition, performance, technology transfer

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