Search results for: board independence

Authors: Manmeet Kaur, Madhu Vij

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The Board of Directors in a firm performs the primary role of an internal control mechanism. This Study seeks to understand the relationship between internal governance and performance of banks in India. The research paper investigates the effect of board structure (proportion of nonexecutive directors, gender diversity, board size and meetings per year) on the firm performance. This paper evaluates the impact of corporate governance mechanisms on bank’s financial performance using panel data for 28 listed banks in National Stock Exchange of India for the period of 2008-2014. Returns on Asset, Return on Equity, Tobin’s Q and Net Interest Margin were used as the financial performance indicators. To estimate the relationship among governance and bank performance initially the Study uses Pooled Ordinary Least Square (OLS) Estimation and Generalized Least Square (GLS) Estimation. Then a well-developed panel Generalized Method of Moments (GMM) Estimator is developed to investigate the dynamic nature of performance and governance relationship. The Study empirically confirms that two-step system GMM approach controls the problem of unobserved heterogeneity and endogeneity as compared to the OLS and GLS approach. The result suggests that banks with small board, boards with female members, and boards that meet more frequently tend to be more efficient and subsequently have a positive impact on performance of banks. The study offers insights to policy makers interested in enhancing the quality of governance of banks in India. Also, the findings suggest that board structure plays a vital role in the improvement of corporate governance mechanism for financial institutions. There is a need to have efficient boards in banks to improve the overall health of the financial institutions and the economic development of the country.

Keywords: board of directors, corporate governance, GMM estimation, Indian banking

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Authors: Maged Assem Soliman Mossallam

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One of the main prospectives on the demand of space exploration is to reduce the costs and efforts for satellite design. Concerning this issue satellite down scaling attracts space scientists and engineers. Picosatellite is the smallest category of satellites. The overall mass is less than 1 kg and dimensions are 10x10x3 cm3. Thermal control target is to keep the Pico-satellite board temperature within the permissible limits of temperature. Thermal design is completely passive which relies mainly on the enhancement of the thermo-optical properties of aluminum using anodization. Transient analysis is given for two different orbits, ISS orbit and 600 km altitude orbit. Results show that board temperature lies within 3 oC to 22 oC using black anodization which is a permissible limit for the satellite internal electronic board.

Keywords: satellite thermal control, small satellites, thermooptical properties , transient orbit analysis

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Authors: Nwobu Obiamaka, Owolabi Akintola

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This study examined the extent of statistical significant difference between the economic, environmental, governance and social aspects of sustainability reporting as a result of board committee on sustainability and time (year) of reporting for business organizations in the Nigerian banking sector. The years of reporting under consideration were 2010, 2011, 2012 and 2013. Content analysis methodology was employed through a reporting index used to score the amount of economic, environmental, governance and social indicators of sustainability reporting. The results of this study indicated that business organizations with board committee on sustainability had more indicators of sustainability reporting than those without board committees on sustainability issues. Also, sustainability reporting in 2013 was higher than that of prior years (2012, 2011 and 2010) for the economic, environmental and social indicators. The governance indicators of 2012 was highest compared to the other years (2013, 2011 and 2010) under consideration in this study. The implication of this finding is that business organizations that have board committees on sustainability are monitored by such boards to report more to their stakeholders. On the other hand, business organizations are appreciating the need to engage in sustainability reporting with each passing year. This could be due to the Central Bank of Nigeria (CBN) Sustainability Reporting framework that business organizations in the banking sector have to adhere to. When sustainability issues are monitored from the board of directors, business organizations are likely to increase and improve on their sustainability reporting.

Keywords: governance, organizations, reporting, sustainability

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Authors: Marlene Rosa, Susana Lopes

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There are few studies that explore the potential of board games as a performance measure, despite it can be an interesting strategy in the context of frailty populations. In fact, board games are immersive strategies than can inhibit the pressure of being evaluated. This study aimed to test the ability of gamed-base strategies to assess executive function in elderly population. Sixteen old participants were included: 10 with affected executive functions (G1 – 85.30±6.00 yrs old; 10 male); 6 with executive functions with non-clinical important modifications (G2 - 76.30±5.19 yrs old; 6 male). Executive tests were assessed using the Frontal Assessment Battery (FAB), which is a quick-applicable cognitive screening test (score<12 means impairment). The board game used in this study was the TATI Hand Game, specifically for training rhythmic coordination of the upper limbs with multiple cognitive stimuli. This game features 1 table grid, 1 set of Single Game cards (to play with one hand); Double Game cards (to play simultaneously with two hands); 1 dice to plan Single Game mode; cards to plan the Double Game mode; 1 bell; 2 cups. Each participant played 3 single game cards, and the following data were collected: (i) variability in time during board game challenges (SD); (ii) number of errors; (iii) execution speed (sec). G1 demonstrated: high variability in execution time during board game challenges (G1 – 13.0s vs G2- 0.5s); a higher number of errors (1.40 vs 0.67); higher execution velocity (607.80s vs 281.83s). These results demonstrated the potential of implementing board games as a functional assessment strategy in geriatric care. Future studies might include larger samples and statistical methodologies to find cut-off values for impairment in executive functions during performance in TATI game.

Keywords: board game, aging, executive function, evaluation

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Authors: Bosung Kim, Youngmok Yun, Sungho Lee, Chanseok Park

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There is a limitation to power supply and operation by the chemical or physical battery in the space environment. Therefore, research for utilizing nuclear energy in the universe has been in progress since the 1950s, around the major industrialized countries. In this study, the self-rechargeable battery having a long life relative to the half-life of the radioisotope is suggested. The hybrid system is composed of betavoltaic battery, all solid battery and energy harvesting board. Betavoltaic battery can produce electrical power at least 10 years over using the radioisotope from Ni-63 and the silicon-based semiconductor. The electrical power generated from the betavoltaic battery is stored in the all-solid battery and stored power is used if necessary. The hybrid system board is composed of input terminals, boost circuit, charging terminals and output terminals. Betavoltaic and all solid batteries are connected to the input and output terminal, respectively. The electric current of 10 µA is applied to the system board by using the high-resolution power simulator. The system efficiencies are measured from a boost up voltage of 1.8 V, 2.4 V and 3 V, respectively. As a result, the efficiency of system board is about 75% after boosting up the voltage from 1V to 3V.

Keywords: isotope, betavoltaic, nuclear, battery, energy harvesting

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Authors: Boubacar Niang, Denis Raulin

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This paper presents the design of a dedicated board for learning and programming with ATMEL AVR new generation micro controller’s family. This board designed as a "shield" for the Arduino Uno allows us to focus on the design and programming of basic micro controller functionalities in high level language with a considerable time saving because of dealing with additional components is not required.

Keywords: Arduino, microcontroller, programming, language

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Authors: Elham Azimzadeh, Fahimeh Khorshidi, Alireza Farsi

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Balance impairment and fear of falling in older adults may reduce their quality of life. Reactive balance training could improve rapid postural responses and fall prevention in the elderly during daily tasks. Performing postural training and simultaneously cognitive dual tasks could be similar to the daily circumstances. Purpose: This study aimed to determine the effect of balance training on stable and unstable surfaces under dual cognitive task conditions on postural control and fear of falling in the elderly. Methods: Thirty non-fallers of older adults (65-75 years) were randomly assigned to two training groups: stable-surface (n=10), unstable-surface (n=10), or a control group (n=10). The intervention groups underwent six weeks of balance training either on a stable (balance board) or an unstable (wobble board) surface while performing a cognitive dual task. The control group received no balance intervention. COP displacements in the anterioposterior (AP) and mediolateral (ML) directions using a computerized balance board, functional balance using TUG, and fear of falling using FES-I were measured in all participants before and after the interventions. Summary of Results: Mixed ANOVA (3 groups * 2 times) with repeated measures and post hoc test showed a significant improvement in both intervention groups in AP index (F= 11/652, P= 0/0002) and functional balance (F= 9/961, P= 0/0001). However, the unstable surface training group had more improvement. However, the fear of falling significantly improved after training on an unstable surface (p= 0/035). All groups had no significant improvement in the ML index (p= 0/817). In the present study, there was an improvement in the AP index after balance training. Conclusion: Unstable surface training may reduce reaction time in posterior ankle muscle activity. Furthermore, focusing attention on cognitive tasks can lead to maintaining balance unconsciously. Most of the daily activities need attention distribution among several activities. So, balance training concurrent to a dual cognitive task is challenging and more similar to the real world. According to the specificity of the training principle, it may improve functional independence and fall prevention in the elderly.

Keywords: cognitive dual task, elderly, fear of falling, postural control, unstable surface

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Authors: Samir Srairi

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This paper investigates the impact of the internal corporate governance on bank performance by constructing a corporate governance index (CGI) for 27 Islamic banks operating in five Arab Gulf countries. Using content analysis on the banks’ annual reports for 3 years (2011-2013), the index construction uses information on six important corporate governance mechanisms, namely board structure, risk management, transparency and disclosure, audit committee, Sharia supervisory board and investment account holders. The results demonstrate that Islamic banks adhere to 54% of the attributes addressed in the CGI. The most frequently reported and disclosed elements are Sharia supervisory board followed by board structure and risk management. The findings related to countries revealed that only two countries, the United Arab Emirates and Bahrain, possess a higher level of CGI. Our regression results provide evidence that Islamic banks with higher levels of corporate governance report high operating performance measured by return on assets and net interest margin. Finally, as of the effect of internal and external factors, we identified four variables that were associated with bank performance, namely size, equity, risk and concentration.

Keywords: governance mechanisms, corporate governance index, bank performance, Islamic banks, GCC countries

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Authors: Stanley Yap Peng Lok, Chong Wei Ying, Leow Hon Wei, Fatemeh Kimiyaghalam

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Purpose: This paper examines how people treat on the importance of financial planning for their retirement. There is lack of standard instrument that enable us to access the retirement planning behavior. This paper studies the reliability and validity of a proposed scale for accessing this behavior. Design/methodology/approach: The Retirement Planning Behavior scale (RPB) is developed from the results of reviewing different papers on this topic. A total of 900 Malaysians from the age of 18 and above are used as the sample. Findings: Our results show, firstly, the RPB meets all criteria from the instrument reliability and validity which based on the theory of planned behavior. Second, our findings propose two components for this RPB scale; attitude toward planning for retirement and intention towards retirement planning behavior. Practical implication: An effective retirement planning achieves financial independence after the retirement. Our findings have important implications for the scope and significance of the retirement planning behavior measurement, especially for retirees. Originality/value: This study proposes a new approach to cater consumers’ needs for retirement planning. Therefore, consumers are able to achieve financial independence in their retirement age.

Keywords: retirement planning behavior (RPB) scale, reliability, validity, retirement planning, financial independence

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Authors: Piotr Kacejko, Lukasz Grabowski, Zdzislaw Kaminski

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This paper discusses a model of fuel consumption and on-board electricity generation. Rapid changes in speed result in a constantly changing kinetic energy accumulated in a bus mass and an increased fuel consumption due to hardly recuperated kinetic energy. The model is based on the results achieved from chassis dynamometer, airport and city street researches. The verified model was applied to simulate the on-board electricity generation during the Japanese JE05 Emission Test Cycle. The simulations were performed for several values of vehicle mass and electrical load applied to on-board devices. The research results show that driving dynamics has an impact on a consumption of fuel to drive alternators.

Keywords: city bus, heavy duty vehicle, Japanese JE05 test cycle, power generation

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Authors: Dilay Akgun Giray

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Basic insuffiency spaces of ASD diagnosed individuals can be grouped as cognitive and academic characteristics, communicational characteristics, social characteristics and emotional characteristics. Referring to the features that children with ASD exhibit on social events, it is clear they have limitations for several social skills. One of the evidence based practices which has been developed and used for the limitations of definite social skills for individuals with autism is “Social Story Method”. Social stories was designed and applied for the first time in 1991, a special education teacher, in order to acquire social skills and improve the existing social skills for children with ASD. Many studies have revealed the effectiveness of social stories for teaching the social skills to individuals with ASD. In this study, three social skills that the child ,who was diagnosed ASD, is going to need primarily will be studied with smart board. This study is multiple probe across-behavior design which is one of the single subject research models.

Keywords: authism spectrum disorders, social skills, social story, smart board

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Authors: Dian Andari

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In several decades, Islamic Banks (IBs) has proliferated internationally. To ensure IBs’ accountability to all stakeholders, a governance system is established. Similar to conventional banks (CBs), IBs create corporate governance system. In addition, IBs have Shari’ah Supervisory Board (SSB) as part of Shari’ah governance formed purposively to ensure IBs innovative operations comply to the Shari’ah. Thus, all boards in IBs must actively participate in good corporate as well as Shari’ah governance. The research will analyze SSB’s performance and quality of disclosure by observing 10 IBs annual report from 2011 to 2015 in Gulf countries. The content analysis will be done to see the relationship between SSB’s performance and quality of disclosure in the annual report. The analysis found that event all aspects of disclosure have been meet, financial disclosure still dominates the annual report. This can indicate that the SSB’s focus is on the interest of capital providers.

Keywords: Islamic banks, Shari'ah supervisory board, accountability, quality of disclosure

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Authors: Marwan Keshlaf, Hassan Fellah

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This study was designed to test whether hive bottom boards modified with polyvinyl chloride pipe or screen-mesh reduces number of Varroa mites in naturally infested honeybee colonies comparing to chemical control. Fifty six colonies distributed equally between two location each received one of four experimental treatment 1) conventional solid board “control”, 2) Apistan in conventional solid board, 3) Mesh bottom board and 4) tube bottom board. Varroa infestation level on both adult bees and on capped brood was estimated. Stored pollen, capped brood area and honey production were also measured. Results of varroa infestation were inconsistent between apiaries. In apiary 1, colonies with Apistan had fewer Varroa destructor than other treatments, but this benefit was not apparent in Apiary 2. There were no effects of modified bottom boards on bee flight activity, brood production, honey yield and stored pollen. We conclude that the efficacy of modified bottom boards in reducing varroa mites population in bee colonies remains uncertain due to observed differences of hygienic behavior.

Keywords: Apis mellifera, modified bottom boards, Varroa destructor, Honeybee colonies

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Authors: Qusai Alshahwan

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The arbitrator’s duties of independence and impartiality play a significant role in delivering arbitral awards which legitimate the fundamental of arbitration concepts. For this reason, the international and national arbitration rules require arbitrators to be independent and impartial to solve the arbitration disputes fairly between the parties. However, solving the disputes fairly also requires arbitrators to disclose any existing conflicts of interest with the parties to avoid misunderstanding and late challenges. In contrary with the international and national arbitration rules, the English Arbitration Act 1996 does not include independence as a separate ground for arbitrator’s removal, and importantly the English Arbitration Act 1996 is deliberately silent to the arbitrator duty of disclosure. The absence of arbitrator duty of disclosure is an issue had generated uncertainty and concerns for the arbitration community under the English jurisdiction, particularly when the English courts rejected the IBA guidelines of arbitrator conflict of interest such as in case of Halliburton v Chubb for example. This article is highlighting on the legal consequences of the absence of arbitrator duty of disclosure under the English Arbitration Act 1996 and the arbitrator's contractual obligations.

Keywords: arbitration, impartiality, independence, duty of disclosure, English Arbitration Act 1996

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Authors: Ameema Mahroof, Muhammad Saeed

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The purpose of this study was to analyze the papers of computer science conducted by Board of Intermediate and Secondary Education with reference to Bloom’s taxonomy. The present study has two parts. First, the analysis is done on the papers conducted by Board of Intermediate of Secondary Education on the basis of basic rules of item construction especially Bloom’s (1956). And the item analysis is done to improve the psychometric properties of a test. The sample included the question papers of computer science of higher secondary classes (XI-XII) for the years 2011 and 2012. For item analysis, the data was collected from 60 students through convenient sampling. Findings of the study revealed that in the papers by Board of intermediate and secondary education the maximum focus was on knowledge and understanding level and very less focus was on the application, analysis, and synthesis. Furthermore, the item analysis on the question paper reveals that item difficulty of most of the questions did not show a balanced paper, the items were either very difficult while most of the items were too easy (measuring knowledge and understanding abilities). Likewise, most of the items were not truly discriminating the high and low achievers; four items were even negatively discriminating. The researchers also analyzed the items of the paper through software Conquest. These results show that the papers conducted by Board of Intermediate and Secondary Education were not well constructed. It was recommended that paper setters should be trained in developing the question papers that can measure various cognitive abilities of students so that a good paper in computer science should assess all cognitive abilities of students.

Keywords: Bloom’s taxonomy, question paper, item analysis, cognitive domain, computer science

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Authors: G. Obrentri, C. Whajah, E. Yeboah Acheampong

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Professional status for African male players guarantees them socioeconomic benefits that may not necessarily be the case for female footballers. The study’s rationale is to understand how female footballers achieve professional status abroad. That contributes to analyzing how female players from Africa especially, Ghana, manage their professional status to improve their family’s social welfare and the community. Relying on football migration and feminization, we identify their migration process and its relevance to their social mobility in society. Analysis through interviews with some female footballers revealed the importance of playing professional abroad that goes to increase their social status and national identity. Findings show that some female footballers with secondary education achieved career empowerment and social independence via their profession. Thus becoming medical doctors and nurses, sports administrators, football coaches and welfare officers for clubs. These achievements of the female footballers can provide useful information and lessons for young female African players aspiring to play professionally abroad.

Keywords: empowerment, female footballers, football migration, professional status, social independence

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Authors: Anuoluwapo S. Taiwo, David S. Ayre, Morteza Khorami, Sameer S. Rahatekar

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This investigation aims to characterize the effect of Corn Cob (CC), an agricultural waste, for potential use as a filler material, reducing cement in natural fibre-reinforced cement composite boards used for building applications in low-cost housing estates in developing countries. The corn cob is readily and abundantly available in many West African States. However, this agricultural waste product has not been put to any effective use. Hence, the objective of the current research is to convert this massive agro-waste resource into a potential material for use as filler materials reducing cement contents in fibre-cement board production. Kraft pulp fibre-reinforced cement composite boards were developed with the incorporation of the corn cob powder at varying percentages of 1 – 4% as filler materials to reduce the cement content, using a laboratory-simulated vacuum de-watering process. The mechanical properties of the developed cement boards were characterized through a three-point bending test, while the fractured morphology of the cement boards was examined through a Scanning Electron Microscope (SEM). Results revealed that the flexural strength of the composite board improved significantly with an optimum enhancement of 39% when compared to the reference sample without corn cob replacement, however, the flexural behaviour (ductility) of the composite board was slightly affected by the addition of the corn cob powder at higher percentage. SEM observation of the fractured surfaces revealed good bonding at the fibre-matrix interface as well as a ductile-to-brittle fracture mechanism. Overall, the composite board incorporated with 2% corn cob powder as filler materials had the optimum properties which satisfied the minimum requirements of relevant standards for fibre cement flat sheets.

Keywords: agricultural waste, building applications, fibre-cement board, kraft pulp fibre, sustainability

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Authors: Prince Mugoya, Collins Oduor Ondiek, Patrick Kanyi Wamuyu

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Refugee Job Board Website is a web-based application that provides a platform for organizations to post jobs specifically for refugees. Organizations upload job opportunities and refugees can view them on the website. The website also allows refugees to input their skills and qualifications. The methodology used to develop this system is a waterfall (traditional) methodology. Software development tools include Brackets which will be used to code the website and PhpMyAdmin to store all the data in a database.

Keywords: information technology, refugee, skills, utilization, economy, jobs

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Authors: M. V. Shivaani, P. K. Jain, Surendra S. Yadav

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Public Sector Undertakings (PSUs), being government-owned organizations have commitments for the economic and social wellbeing of the society; this commitment needs to be reflected in their risk-taking, decision-making and governance structures. Therefore, the primary objective of the study is to suggest measures that may lead to improvement in performance of PSUs. To achieve this objective two normative frameworks (one relating to risk levels and other relating to governance structure) are being put forth. The risk index is based on nine risks, such as, solvency risk, liquidity risk, accounting risk, etc. and each of the risks have been scored on a scale of 1 to 5. The governance index is based on eleven variables, such as, board independence, diversity, risk management committee, etc. Each of them are scored on a scale of 1 to five. The sample consists of 39 PSUs that featured in Nifty 500 index and, the study covers a 10 year period from April 1, 2005 to March, 31, 2015. Return on assets (ROA) and return on equity (ROE) have been used as proxies of firm performance. The control variables used in the model include, age of firm, growth rate of firm and size of firm. A dummy variable has also been used to factor in the effects of recession. Given the panel nature of data and possibility of endogeneity, dynamic panel data- generalized method of moments (Diff-GMM) regression has been used. It is worth noting that the corporate governance index is positively related to both ROA and ROE, indicating that with the improvement in governance structure, PSUs tend to perform better. Considering the components of CGI, it may be suggested that (i). PSUs ensure adequate representation of women on Board, (ii). appoint a Chief Risk Officer, and (iii). constitute a risk management committee. The results also indicate that there is a negative association between risk index and returns. These results not only validate the framework used to develop the risk index but also provide a yardstick to PSUs benchmark their risk-taking if they want to maximize their ROA and ROE. While constructing the CGI, certain non-compliances were observed, even in terms of mandatory requirements, such as, proportion of independent directors. Such infringements call for stringent penal provisions and better monitoring of PSUs. Further, if the Securities and Exchange Board of India (SEBI) and Ministry of Corporate Affairs (MCA) bring about such reforms in the PSUs and make mandatory the adherence to the normative frameworks put forth in the study, PSUs may have more effective and efficient decision-making, lower risks and hassle free management; all these ultimately leading to better ROA and ROE.

Keywords: PSU, risk governance, diff-GMM, firm performance, the risk index

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Authors: Sana Masmoudi, Yosra Makni

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Regulators highlight the importance of the Audit Committee (AC) as a key internal corporate governance mechanism. One of the most important roles of this committee is to oversee the financial reporting process. The purpose of this paper is to examine the link between the characteristics of an audit committee and the financial reporting quality by investigating whether the formation of audit committees and their characteristics are associated with improved financial reporting quality. This study provides empirical evidence of the association between audit committee independence, financial expertise, gender diversity, and meetings and Real Earnings Management (REM) as a proxy of financial reporting quality. Using data from, with a sample of 80 companies listed on the Amsterdam Stock Exchange during 2010-2017, the study finds that independence and AC Gender diversity are strongly related to financial reporting quality. In fact, these two characteristics constrain REM. The results also suggest that AC-financial expertise reduces to some extent, the likelihood of engaging in REM. These conclusions provide support then to the audit committee requirement under the Dutch Corporate Governance Code rules regarding gender diversity and AC meetings.

Keywords: audit committee, financial expertise, independence, real earnings management

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Authors: Tri Nopiyanto, Rahardhyani Dwiannisa, Arief Ismaryanto

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One main issue for a certain region in order to achieve development is if the government that consists of the executive, legislative and judicial board are able to work together. However, there are certain conditions that these boards are the sources of conflict, especially between the executive and legislative board. One of the example of the conflict is between the Local Government and Legislative Board (DPRD) in the Province of Jakarta in 2015. The cause of this conflict is because of the occurrence of pokir (pokok pikiran or ideas of budgeting). Pokir is driven by a budgeting plan that is arranged by DPRD that is supposed to be sourced from the aspiration of the people and delivered 5 months before the legalization of Local Government Budget (APBD), but the current condition in Jakarta is that pokir is a project by DPRD members itself and delivered just 3 days before the legalization in order to facilitate the interests of the members of the legislative. This paper discusses how pokir happens and what factors caused it. This paper uses political budgeting theory by Andy Norton and Diane Elson to analyze the issue. The method used in this paper is qualitative to collect the data and solve the problem of this research. The methods involved are in depth interview, experimental questionnaire, and literature studies. Results of this research are that Pokir occurs because of the distribution of power among DPRD members, between parties, executive, and legislative board. Beside that, Pokir also occurs because of the lack of the people’s participation in budgeting process and monitoring. Other than that, this paper also found that pokir also happens because of the budgeting system that is not able to provide a clean budgeting process, so it enables the creation of certain slots to add pokir into the budgets. Pokir also affects the development of Jakarta that goes through stagnation. This research recommends the implementation of e-budgeting to prevent the occurrence of pokir itself in the Province of Jakarta.

Keywords: legislative and executive board, Jakarta, political budgeting, Pokir

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Authors: Zineb Meniaoui, Fatma Zehri, Kamoussi Halioui

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The amplified awareness of companies towards the social and environmental concerns has nowadays become a challenge for firms around the globe. Our study investigates the effects of corporate governance mechanisms on voluntarily social and environmental information disclosure in Canada and France. The study use the content analysis approach, applied on a total of 245 year-observation for the Canadian sample and 245 year-observation for the French sample from 2005 to 2011. Our results show a significant correlation between the board's independence, Corporate Social Responsibility (CSR) committee and expertise as well as the audit quality along with the extent of the social and environmental disclosure. The French firms are found disclosing more societal information than Canadian firms, which might be due to the stakeholders' pressure put on French companies to disclose such societal information.

Keywords: Canada, corporate governance, disclosure determinants , France, social and environmental disclosure

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Authors: Abilio Pires Zacarias

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Analyzing company boards of directors is a relevant and timely topic. As the representative of shareholders, the board is the most senior management body of this type of company. Therefore, ascertaining the best kind of candidates to nominate, namely the most appropriate characteristics for leading the board to achieve better levels of performance, is certainly of great interest. The companies selected for this study were the 1,000 largest non-financial companies and the 100 largest financial companies in Portugal according to the Instituto Nacional de Estatística for 2010. The information stemmed from a questionnaire addressed to the person in charge of daily company management and then processed through STATA 17 with the multivariate analysis of variables - MANOVA. The study may correspondingly report that the vast majority of boards in the sample operate a dual leadership structure. By in terms of its prevalence, unitary leadership represents only a minority. Agency theory and stewardship theory postulate different characteristics for the ideal chairman but neither receive confirmation from our results. On the other hand, our findings do validate the behavioral theory of firms (BToF), concluding that experience is associated with organizational performance. This study is also relevant due to its analysis of companies not listed on the financial markets not only because of their weighting in the economy but also because they remain only very poorly studied in this field and thus also correspondingly contributing to deepening the literature.

Keywords: agency theory, behavioral theory of the firm, board of directors, corporate governance, stewardship theory

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Authors: Mohamed Anwar Hammad, Khaled Mohamed Al Akhali, Yasmin Elsobky

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Board certification is a voluntary process that confirms a pharmacist's capability, competency, education, skills, and proficiency beyond what is essential for licensure. This analysis was intended to investigate the prevalence of board-certified pharmacists in the Arab countries and compare the Board of Pharmacy Specialties (BPS) between Egypt, Saudi Arabia, and Canada. A cross-sectional study was conducted. The data were mined from the BPS website. Data were managed by IBM SPSS Statistics 23.0 and presented as descriptive statistics. Of 36918 Board certified pharmacists (BCPs) until February 2018, only 4038 (10.9%) were from the outside United States of America. From 4038 BCPs, about 1782 (44.1%) were from Arab nations. Egypt has the top prevalence of the BPS among the Arab countries 937 (52.6%) BCPs. However, the Kingdom of Saudi Arabia comes in the second position 442 (24.8%). Pharmacotherapy (BCPS), nutrition support pharmacy (BCNSP), critical care pharmacy (BCCCP) and oncology pharmacy (BCOP) are the highest specialties by 1474 (82.7%), 114 (6.4%), 61 (3.42%) and 60 (3.37%) respectively, while, infectious diseases pharmacy (AQID), cardiology pharmacy (AQCD) and nuclear pharmacy (BCNP) are the lowest prevalence of specialties by 7 (0.4%), 6 (0.3%) and 1 (0.06%) respectively. Added qualifications were canceled and became a new specialty in BPS as the rest of the specialties. Both infectious diseases and cardiology specialties exams are not conducted yet all over the world from the beginning of 2018. Egypt has the second prevalence 937 (2.54%), before Canada 920 (2.49%) and after United States of America 32880 (89.06%) in the worldwide in terms of BCPs. In conclusion the BCPS is the uppermost specialty; however, there is still a need for all the other specialties. In a short period, BCCCP jumped to the third position. Cardiology and infectious disease will be new specialties. Egyptian pharmacists are in the top of Arab countries, and 2nd in worldwide BCPs.

Keywords: AQCD, AQID, Arab countries, BCACP, BCCCP, BCGP, BCNP, BCNSP, BCOP, BCPPS, BCPS, BCPP, Board of Pharmacy Specialties (BPS), Canada, Egypt, Saudi Arabia, USA

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Authors: Dammak Saida, Mbarek Sonia

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This paper aims to examine the impact of public interest commitment, the attitude towards independence enforcement, and organizational ethical culture on auditors' ethical behavior. It also tests the moderating effect of gender diversity on these relationships. The sample consisted of 100 Tunisian chartered accountants. An online survey was used to collect the data. Data analysis techniques used to test hypotheses The findings of this study provide practical implications for accounting professionals, regulators, and audit firms as they help understand auditors' beliefs and behaviors, which implies more effective mechanisms for improving their ethical values.

Keywords: public interest, independence, organizational culture, professional behavior, Tunisian auditors

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Authors: Rafael Martins Manzano Silva, Jean-Francois Tremong

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Electrification of railway lines allows to increase speed, power, capacity and energetic efficiency of rolling stocks. However, this process of electrification is complex and costly. An electrification project is not just about design of catenary. It also includes installation of structures around electrification, as substation installation, electrical isolation, signalling, telecommunication and civil engineering structures. France has more than 30,000 km of railways, whose only 53% are electrified. The others 47% of railways use diesel locomotive and represent only 10% of the circulation (tons.km). For this reason, a new type of electrification, less expensive than the usual, is requested to enable the modernization of these railways. One solution could be the use of hybrids trains. This technology opens up new opportunities for less expensive infrastructure development such as the partial electrification of railway lines. In a partially electrified railway, the power supply of theses hybrid trains could be made either by the catenary or by the on-board energy storage system (ESS). Thus, the on-board ESS would feed the energetic needs of the train along the non-electrified zones while in electrified zones, the catenary would feed the train and recharge the on-board ESS. This paper’s objective deals with the technical and economic potential identification of partial electrification of railway lines. This study provides different scenarios of electrification by replacing the most expensive places to electrify using on-board ESS. The target is to reduce the cost of new electrification projects, i.e. reduce the cost of electrification infrastructures while not increasing the cost of rolling stocks. In this study, scenarios are constructed in function of the electrification’s cost of each structure. The electrification’s cost varies considerably because of the installation of catenary support in tunnels, bridges and viaducts is much more expensive than in others zones of the railway. These scenarios will be used to describe the power supply system and to choose between the catenary and the on-board energy storage depending on the position of the train on the railway. To identify the influence of each partial electrification scenario in the sizing of the on-board ESS, a model of the railway line and of the rolling stock is developed for a real case. This real case concerns a railway line located in the south of France. The energy consumption and the power demanded at each point of the line for each power supply (catenary or on-board ESS) are provided at the end of the simulation. Finally, the cost of a partial electrification is obtained by adding the civil engineering costs of the zones to be electrified plus the cost of the on-board ESS. The study of the technical and economic potential ends with the identification of the most economically interesting scenario of electrification.

Keywords: electrification, hybrid, railway, storage

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Authors: Jakub Gren

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The recent transfer of banking supervision to the ECB has expanded its influence as of a non-majoritarian and technocratic policy-shaper in EU supervisory policies. To fulfil the main policy objectives of the Single Supervisory Mechanism, the ECB has been tasked with building a single supervisory approach to supervised banks across the euro area and is now exclusively responsible for direct supervision of the largest ‘significant’ euro area banks and the oversight of the remaining ‘less significant’ banks. This enhanced supranational position of the ECB significantly alters the EU institutional order and creates powerful incentives to actively pursue integrationist agenda by the ECB. However, this drastic shift has a little impact upon adapting the ECB’s new supervisory mandate to the requirements of democratic legitimacy. Whereas the ECB’s strong pre-crisis independence and limited accountability could be reconciled with democratic principles through a clearly articulated price stability mandate, independence and limited accountability in the context of a more complex supervisory mandate is problematic. Hence, in order to ensure the democratic legitimacy of the ECB/SSM’s supervisory policies, the ECB’s supervisory mandate requires both a lower scope of independence and higher accountability requirements. To address this situation, organizational separation (“Chinese Wall”) between the ECB monetary and supervisory arms was introduced. This separation includes different reporting lines and the relocation of the ECB’s monetary function to a new building complex while leaving its supervisory function at the Euro-tower (“Two Towers”). This paper argues that these measures are not sufficient to establish proper checks and balances on the ECB’s powers to pursue euro zone’s wide supervisory policies. As a remedy, this contribution suggests that the ECB’s Treaties-embedded independence, as set out by art. 130 TFEU, designed to carry out its monetary function shall not be fully applicable to its supervisory function. Indeed functional and conditional reading of this provision to ECB supervisory function could enhance the legitimacy of future ECB’s supervisory action.

Keywords: accountability and transparency, democratic governance, financial management, rule of law

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Authors: Minase Yitbarek Mengistu, Abrham Melkamu, Dawit Yisfaw, Bisrat Belihu, Abdulhakim Lalega

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This research was aimed at reducing and recycling waste paper and sawdust from our environment, thereby reducing environmental pollution resulting from the management/disposal of these waste materials. In this research, some mechanical properties of composite ceiling board materials made from waste paper, sawdust, and pineapple leaf fibers were investigated to determine their suitability for use in low-cost construction work. The ceiling board was obtained from the waste of paper, sawdust chips, and pineapple leaf fibers by manual mechanical bonding techniques using dissolved polystyrene films as a binding agent. The results obtained showed that the water absorption values of between 6 % and 8.1 %; as well as density values of 500 kg/mm3 and 611.1 kg/mm3.From our result, the better one is a ratio of pineapple leaf fiber 25%, sawdust 40%, binder 25%, and waste paper 10%. The composite ceiling boards were successfully nailed with firm grips. These values obtained were compared with those of the conventional ceiling boards and it was observed that these composite materials can be used for internal low-cost construction work and Insulation (acoustic and thermal) performance. It is highly recommended that small and medium enterprises be encouraged to venture into waste recycling and the production of these composite ceiling materials to create jobs for skilled and unskilled labor that are locally available.

Keywords: composite material, environment, textile, ceiling board

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Authors: Cameron Wilson, Megan Hanrahan, Katie Brittain, Riona McArdle, Alison Keogh, Lynn Rochester

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Background: The loss of mobility and functional dependence is a significant marker in the progression of neurodegenerative diseases such as Parkinson’s Disease (PD). Pharmacological, surgical, and therapeutic treatments are available that can help in the management and amelioration of PD symptoms; however, these only prolong more severe symptoms. Accordingly, ensuring people with PD can maintain independence and a healthy wellbeing are essential in establishing an effective treatment option for those afflicted. Existing literature reviews have examined experiences in engaging with PD treatment options and the impact of PD on independence and wellbeing. Although, the literature fails to explore the influence of treatment options on independence and wellbeing and therefore misses what people value in their treatment. This review is the first that synthesises the impact of mobility-related treatments on independence and wellbeing in people with PD and their carers, offering recommendations to clinical practice and provides a conceptual framework (in development) for future research and practice. Objectives: To explore the impact of mobility-related treatment (both pharmacological and non-pharmacological) on the independence and wellbeing of people with PD and their carers. To propose a conceptual framework to patients, carers and clinicians which captures the qualities people with PD value as part of their treatment. Methods: We performed a critical interpretive synthesis of qualitative evidence, searching six databases for reports that explored the impact of mobility-related treatments (both drug and non-pharmacological) on independence and wellbeing in Parkinson’s Disease. The types of treatments included medication (Levodopa and Amantadine), dance classes, Deep-Brain Stimulation, aquatic therapies, physical rehabilitation, balance training and foetal transplantation. Data was extracted, and quality was assessed using an adapted version of the NICE Quality Appraisal Tool Appendix H before being synthesised according to the critical interpretive synthesis framework and meta-ethnography process. Results: From 2301 records, 28 were eligible. Experiences and impact of treatment pathway on independence and wellbeing was similar across all types of treatments and are described by five inter-related themes: (i) desire to maintain independence, (ii) treatment as a social experience during and after, (iii) medication to strengthen emotional health, (iv) recognising physical capacity and (v) emphasising the personal journey of Parkinson’s treatments. Conclusion: There is a complex and inter-related experience and effect of PD treatments common across all types of treatment. The proposed conceptual framework (in development) provides patients, carers, and clinicians recommendations to personalise the delivery of PD treatment, thereby potentially improving adherence and effectiveness. This work is vital to disseminate as PD treatment transitions from subjective and clinically captured assessments to a more personalised process supplemented using wearable technology.

Keywords: parkinson's disease, medication, treatment, dance, review, healthcare, delivery, levodopa, social, emotional, psychological, personalised healthcare

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Authors: Jingchen Zhao

Abstract:

Corporate social responsibility (CSR), a major contemporary focus for companies, governments, NGOs and communities, is discussed from a multi-disciplinary perspective. The term is introduced and defined to achieve a combination of economic, social, environmental and philanthropic goals, and its adoption in company law legislations in a few jurisdictions is discussed. Despite its positive social and environmental impacts, the notion has been widely criticised for being ill-defined and fundamentally flawed in the domain of corporate law. The value and effectiveness of CSR have been interrogated for many reasons, always inter-related. This article aims to consider and address some of these problems and assess how CSR could be sharpened and made more effective through the lens of accountability, focussing on the rationale behind and the means of regulation of CSR. The article aims to achieve two interrelated goals. First, it examines the function of accountability in the arguments in favour of CSR by investigating the extent to which the notion of accountability could be used as a criterion for regulating CSR, so that companies may be held accountable for corporate decisions affecting their stakeholders. Second, this article will examine the scope and goals of CSR and board accountability, creating the possibility of a more comprehensive understanding of the two notions from an interactive perspective. In order to link CSR and accountability closely to generate a more appropriate definition of CSR that is could be more appropriately and effectively applied in corporate law, the concept of corporate social accountability (CSA) will be evaluated, with the aim of broadening its latitude beyond disclosure. This will involve a rigorous assessment of the process of fulfilling directors’ duties via questioning from stakeholder groups during meetings or committees, together with explanations and justifications from the board. This will be followed by discussions on enforcement measures in relation to the concept of CSA.

Keywords: corporate governance, CSR, board accountability, corporate law

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