Search results for: relational contracts
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 518

Search results for: relational contracts

428 Modernization of the Economic Price Adjustment Software

Authors: Roger L. Goodwin

Abstract:

The US Consumer Price Indices (CPIs) measures hundreds of items in the US economy. Many social programs and government benefits index to the CPIs. In mid to late 1990, much research went into changes to the CPI by a Congressional Advisory Committee. One thing can be said from the research is that, aside from there are alternative estimators for the CPI; any fundamental change to the CPI will affect many government programs. The purpose of this project is to modernize an existing process. This paper will show the development of a small, visual, software product that documents the Economic Price Adjustment (EPA) for long-term contracts. The existing workbook does not provide the flexibility to calculate EPAs where the base-month and the option-month are different. Nor does the workbook provide automated error checking. The small, visual, software product provides the additional flexibility and error checking. This paper presents the feedback to project.

Keywords: Consumer Price Index, Economic Price Adjustment, contracts, visualization tools, database, reports, forms, event procedures

Procedia PDF Downloads 319
427 Interaction between University Art Gallery and the Community through Public Art Exhibitions

Authors: Qiao Mao

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Starting from the theoretical viewpoints of relational aesthetics, this study explores the relationship between the university art gallery and the communities, taking Art Scattering Program in the Name of Trees of the Art Gallery of National Taiwan Normal University (NTNU) as a case. The researcher uses observational and interview methods to obtain research materials to explore how university art galleries interact with communities through public art exhibitions and strengthen the relatively weak relationships with community residents. The researcher also observes how community residents can change their opinions about the university gallery by participating in public art exhibitions. The results show that the university art gallery can effectively establish the interaction with the community residents and repair the relationship with them through such programs as "collection-sharing," "teacher-student co-creation," "artist stationing," and "education promotion activities," playing an active role in promoting interpersonal communication, sustaining the natural environment development and improving community public space.

Keywords: university art gallery, public art, relational aesthetics, communities, interaction

Procedia PDF Downloads 87
426 Three-Dimensional Model of Leisure Activities: Activity, Relationship, and Expertise

Authors: Taekyun Hur, Yoonyoung Kim, Junkyu Lim

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Previous works on leisure activities had been categorizing activities arbitrarily and subjectively while focusing on a single dimension (e.g. active-passive, individual-group). To overcome these problems, this study proposed a Korean leisure activities’ matrix model that considered multidimensional features of leisure activities, which was comprised of 3 main factors and 6 sub factors: (a) Active (physical, mental), (b) Relational (quantity, quality), (c) Expert (entry barrier, possibility of improving). We developed items for measuring the degree of each dimension for every leisure activity. Using the developed Leisure Activities Dimensions (LAD) questionnaire, we investigated the presented dimensions of a total of 78 leisure activities which had been enjoyed by most Koreans recently (e.g. watching movie, taking a walk, watching media). The study sample consisted of 1348 people (726 men, 658 women) ranging in age from teenagers to elderlies in their seventies. This study gathered 60 data for each leisure activity, a total of 4860 data, which were used for statistical analysis. First, this study compared 3-factor model (Activity, Relation, Expertise) fit with 6-factor model (physical activity, mental activity, relational quantity, relational quality, entry barrier, possibility of improving) fit by using confirmatory factor analysis. Based on several goodness-of-fit indicators, the 6-factor model for leisure activities was a better fit for the data. This result indicates that it is adequate to take account of enough dimensions of leisure activities (6-dimensions in our study) to specifically apprehend each leisure attributes. In addition, the 78 leisure activities were cluster-analyzed with the scores calculated based on the 6-factor model, which resulted in 8 leisure activity groups. Cluster 1 (e.g. group sports, group musical activity) and Cluster 5 (e.g. individual sports) had generally higher scores on all dimensions than others, but Cluster 5 had lower relational quantity than Cluster 1. In contrast, Cluster 3 (e.g. SNS, shopping) and Cluster 6 (e.g. playing a lottery, taking a nap) had low scores on a whole, though Cluster 3 showed medium levels of relational quantity and quality. Cluster 2 (e.g. machine operating, handwork/invention) required high expertise and mental activity, but low physical activity. Cluster 4 indicated high mental activity and relational quantity despite low expertise. Cluster 7 (e.g. tour, joining festival) required not only moderate degrees of physical activity and relation, but low expertise. Lastly, Cluster 8 (e.g. meditation, information searching) had the appearance of high mental activity. Even though clusters of our study had a few similarities with preexisting taxonomy of leisure activities, there was clear distinctiveness between them. Unlike the preexisting taxonomy that had been created subjectively, we assorted 78 leisure activities based on objective figures of 6-dimensions. We also could identify that some leisure activities, which used to belong to the same leisure group, were included in different clusters (e.g. filed ball sports, net sports) because of different features. In other words, the results can provide a different perspective on leisure activities research and be helpful for figuring out what various characteristics leisure participants have.

Keywords: leisure, dimensional model, activity, relationship, expertise

Procedia PDF Downloads 312
425 Effect of Semantic Relational Cues in Action Memory Performance over School Ages

Authors: Farzaneh Badinlou, Reza Kormi-Nouri, Monika Knopf, Kamal Kharazi

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Research into long-term memory has demonstrated that the richness of the knowledge base cues in memory tasks improves retrieval process, which in turn influences learning and memory performance. The present research investigated the idea that adding cues connected to knowledge can affect memory performance in the context of action memory in children. In action memory studies, participants are instructed to learn a series of verb–object phrases as verbal learning and experience-based learning (learning by doing and learning by observation). It is well established that executing action phrases is a more memorable way to learn than verbally repeating the phrases, a finding called enactment effect. In the present study, a total of 410 students from four grade groups—2nd, 4th, 6th, and 8th—participated in this study. During the study, participants listened to verbal action phrases (VTs), performed the phrases (SPTs: subject-performed tasks), and observed the experimenter perform the phrases (EPTs: experimenter-performed tasks). During the test phase, cued recall test was administered. Semantic relational cues (i.e., well-integrated vs. poorly integrated items) were manipulated in the present study. In that, the participants were presented two lists of action phrases with high semantic integration between verb and noun, e.g., “write with the pen” and with low semantic integration between verb and noun, e.g., “pick up the glass”. Results revealed that experience-based learning had a better results than verbal learning for both well-integrated and poorly integrated items, though manipulations of semantic relational cues can moderate the enactment effect. In addition, children of different grade groups outperformed for well- than poorly integrated items, in flavour of older children. The results were discussed in relation to the effect of knowledge-based information in facilitating retrieval process in children.

Keywords: action memory, enactment effect, knowledge-based cues, school-aged children, semantic relational cues

Procedia PDF Downloads 277
424 The Dubai World Islamic Finance Arbitration Center and Jurisprudence Office as the Dispute Resolution Center and Mechanism for the Islamic Finance Industry

Authors: Camille Paldi

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As the Islamic finance industry is growing annually at a rate of 10% to 15% per year, it is imperative that a unique, independent legal framework is established in order to effectively adjudicate Islamic finance disputes. Currently, Islamic finance disputes are being adjudicated in inadequate civil and common law courts and arbitration centers where the contracts in dispute are being transformed from Islamic to conventional transactions. Through case analysis combined with an exploration of the efficacy of existing arbitration centers and dispute resolution methods available to Islamic finance, this paper will seek to reveal that the Islamic finance industry currently lacks an adequate dispute resolution mechanism and facility to adjudicate disputes arising from Islamic finance contracts. Hence, now is the time for the Dubai World Islamic Finance Arbitration Center (DWIFAC) and Jurisprudence Office (DWIFACJO) as the Dispute Resolution Center and Mechanism for the Islamic Finance Industry.

Keywords: Islamic finance, dispute resolution, Dubai world Islamic finance arbitration center, jurisprudence office

Procedia PDF Downloads 414
423 Open Innovation Strategy (OIS) Paradigm and an OIS Capabilities Model

Authors: Anastasis D. Petrou

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Innovation and strategy discussions do highlight open innovation as a new paradigm in business. Yet, a number of stumbling blocks in the form of closed innovation principles weaved into the fabric of a traditional business model stand in the way of the new paradigm’s momentum to increase value in various business contexts. The paper argues that businesses considering an engagement with the open innovation paradigm would need to take steps to improve their multiplicative, absorptive and relational capabilities, respectively. The needed improvements would amount to a business model evolutionary transformation and eventually bring about a paradigm overhaul in business. The transformation is worth staging over time to ensure that open innovation is developed across interconnected and partnered areas of strategic importance. This article develops an open innovation strategy (OIS) capabilities model, and employs examples from different industries to briefly discuss OIS’s potential to augment business value in a number of suggested areas for future research.

Keywords: close innovation, open innovation paradigm, open innovation strategy (OIS) paradigm, OIS capabilities model, multiplicative capability, absorptive capability, relational capability

Procedia PDF Downloads 521
422 The Role of Law Corruption and Culture in Investment Fund Manager Fees

Authors: Samir Assal

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This paper considers an international sample of venture capital and private equity funds to assess the role of law, corruption and culture in setting fund manager fees in terms of their fixed management fees, carried interest performance fees, clawbacks of fees and cash versus share distributions of fees. The data highlight a role of legal conditions in shaping fees paid to fund managers. In countries with better legal conditions, fixed fees are lower, carried interest fees are higher, clawbacks are less likely, and share distributions are more likely. These findings suggest legal conditions help to align the interests of managers and shareholders. More specifically, we examine which element of legal conditions matter most, and discover that corruption levels play a pronounced role in shaping fund manager fee contracts. We also show that cultural forces such as Hofstede’s measures of power distance and uncertainty avoidance likewise play a role in influencing fees.

Keywords: managerial compensation, incentive contracts, private equity, law and finance

Procedia PDF Downloads 310
421 Research on Contract's Explicit Incentive and Reputation's Implicit Incentive Mechanism towards Construction Contractors

Authors: Li Ma, Meishuang Ma, Mengying Huang

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The quality of construction projects reflects the credit and responsibilities of construction contractors for the owners and the whole society. Because the construction contractors master more relevant information about the entrusted engineering project under construction while the owners are in unfavorable position of gaining information, asymmetric information may lead the contractors act against the owners in order to pursue their own interests. Building a powerful motivation mechanism is the key to guarantee investor economic interests and the life and property of users in construction projects. Based on principal-agent theory and game theory, the authors develop relevant mathematical models to analyze and compare the contractor’s utility functions under different combinations of contracts’ explicit incentive mechanism and reputation’s implicit incentive mechanism aiming at finding out the conditions for incentive validity. The research concludes that the most rational motivation way is to combine the explicit and implicit incentive effects of both contracts and reputation mechanism, and puts forth some measures for problems on account of China’s current situation.

Keywords: construction contractors, contract, reputation, incentive mechanism

Procedia PDF Downloads 510
420 The Interplay of Community-based Social Capital and Neighbourhood Dynamics in Enhancing SMEs’ Resilience During Crises: A Fuzzy-Set Qualitative Comparative Analysis Approach

Authors: Arash Sadeghi, Taimaz Larimian

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This study explores the intricate interplay between community-based social capital (CBSC) and neighbourhood dynamics in enhancing resilience of Iranian SMEs, particularly under the strain of international sanctions. Utilising fuzzy-set Qualitative Comparative Analysis (fsQCA), we examine how different dimensions of CBSC—structural, relational, and cognitive—interact with neighbourhood socio-economic and built-environment characteristics to influence SME resilience. Findings reveal four configurations that contribute to the presence of resistance and five configurations associated with the adaptation outcome. Each configuration demonstrates a distinct combination of social capital elements, which vary according to the specific socio-economic and built-environmental characteristics of the neighbourhoods. The first configuration highlights the importance of structural social capital in deprived areas for building resistance, while the second emphasises the role of relational social capital in low-density, minimally deprived areas. Overall, cognitive social capital seems to be less effective in driving economic resilience compared to structural and relational types. This research contributes to the literature by providing a nuanced understanding of the synergistic effects of CBSC dimensions and neighbourhood characteristics on SME resilience. By adopting a configurational approach, we move beyond traditional methodologies, offering a comprehensive view of the complex dynamics of CBSC and neighbourhood characteristics and their impact on SME resilience in varying neighbourhoods.

Keywords: community-based social capital, fuzzy-set qualitative comparative analysis (fsQCA), place-based resilience, resistance

Procedia PDF Downloads 53
419 A Relational Data Base for Radiation Therapy

Authors: Raffaele Danilo Esposito, Domingo Planes Meseguer, Maria Del Pilar Dorado Rodriguez

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As far as we know, it is still unavailable a commercial solution which would allow to manage, openly and configurable up to user needs, the huge amount of data generated in a modern Radiation Oncology Department. Currently, available information management systems are mainly focused on Record & Verify and clinical data, and only to a small extent on physical data. Thus, results in a partial and limited use of the actually available information. In the present work we describe the implementation at our department of a centralized information management system based on a web server. Our system manages both information generated during patient planning and treatment, and information of general interest for the whole department (i.e. treatment protocols, quality assurance protocols etc.). Our objective it to be able to analyze in a simple and efficient way all the available data and thus to obtain quantitative evaluations of our treatments. This would allow us to improve our work flow and protocols. To this end we have implemented a relational data base which would allow us to use in a practical and efficient way all the available information. As always we only use license free software.

Keywords: information management system, radiation oncology, medical physics, free software

Procedia PDF Downloads 242
418 The Efficacy of Contractual Governance on Task and Relationship Conflict in Construction Projects

Authors: Jingya You, Yongqiang Chen, Yuanyuan Hua, Wenqian Wang

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Conflict is commonplace in construction projects, and construction projects always involve designing contracts between the owner and the contractor. However, how the contract affects the level of conflict between the owner and the contractor has not been elaborated. The purpose of this paper is to explain the effects of contractual complexity on the level of conflict, including task conflict and relationship conflict, and then to demonstrate the moderating role played by the interdependence between the owner and the contractor. Using data from owners and general contractors in the Chinese construction industry, this research reveals that contractual control will reduce relationship conflict. Contractual coordination will also reduce relationship conflict by the mediating effect of task conflict. Besides, under high joint interdependence, the positive relationship between task conflict and relationship conflict is strengthened, while high interdependence asymmetry has effects on weakening the relationship between task conflict and relationship conflict. The findings provide guidance for contract designers to draft suitable contracts in order to effectively deal with conflict. Additionally, this research implies that project managers should highlight the importance of contract in conflict management.

Keywords: construction projects, contract governance, interdependence, relationship conflict, task conflict

Procedia PDF Downloads 218
417 Evaluation of NoSQL in the Energy Marketplace with GraphQL Optimization

Authors: Michael Howard

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The growing popularity of electric vehicles in the United States requires an ever-expanding infrastructure of commercial DC fast charging stations. The U.S. Department of Energy estimates 33,355 publicly available DC fast charging stations as of September 2023. In 2017, 115,370 gasoline stations were operating in the United States, much more ubiquitous than DC fast chargers. Range anxiety is an important impediment to the adoption of electric vehicles and is even more relevant in underserved regions in the country. The peer-to-peer energy marketplace helps fill the demand by allowing private home and small business owners to rent their 240 Volt, level-2 charging facilities. The existing, publicly accessible outlets are wrapped with a Cloud-connected microcontroller managing security and charging sessions. These microcontrollers act as Edge devices communicating with a Cloud message broker, while both buyer and seller users interact with the framework via a web-based user interface. The database storage used by the marketplace framework is a key component in both the cost of development and the performance that contributes to the user experience. A traditional storage solution is the SQL database. The architecture and query language have been in existence since the 1970s and are well understood and documented. The Structured Query Language supported by the query engine provides fine granularity with user query conditions. However, difficulty in scaling across multiple nodes and cost of its server-based compute have resulted in a trend in the last 20 years towards other NoSQL, serverless approaches. In this study, we evaluate the NoSQL vs. SQL solutions through a comparison of Google Cloud Firestore and Cloud SQL MySQL offerings. The comparison pits Google's serverless, document-model, non-relational, NoSQL against the server-base, table-model, relational, SQL service. The evaluation is based on query latency, flexibility/scalability, and cost criteria. Through benchmarking and analysis of the architecture, we determine whether Firestore can support the energy marketplace storage needs and if the introduction of a GraphQL middleware layer can overcome its deficiencies.

Keywords: non-relational, relational, MySQL, mitigate, Firestore, SQL, NoSQL, serverless, database, GraphQL

Procedia PDF Downloads 63
416 A Closed-Loop Design Model for Sustainable Manufacturing by Integrating Forward Design and Reverse Design

Authors: Yuan-Jye Tseng, Yi-Shiuan Chen

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In this paper, a new concept of closed-loop design model is presented. The closed-loop design model is developed by integrating forward design and reverse design. Based on this new concept, a closed-loop design model for sustainable manufacturing by integrated evaluation of forward design, reverse design, and green manufacturing using a fuzzy analytic network process is developed. In the design stage of a product, with a given product requirement and objective, there can be different ways to design the detailed components and specifications. Therefore, there can be different design cases to achieve the same product requirement and objective. Thus, in the design evaluation stage, it is required to analyze and evaluate the different design cases. The purpose of this research is to develop a model for evaluating the design cases by integrated evaluation of forward design, reverse design, and green manufacturing models. A fuzzy analytic network process model is presented for integrated evaluation of the criteria in the three models. The comparison matrices for evaluating the criteria in the three groups are established. The total relational values among the three groups represent the total relational effects. In application, a super matrix can be created and the total relational values can be used to evaluate the design cases for decision-making to select the final design case. An example product is demonstrated in this presentation. It shows that the model is useful for integrated evaluation of forward design, reverse design, and green manufacturing to achieve a closed-loop design for sustainable manufacturing objective.

Keywords: design evaluation, forward design, reverse design, closed-loop design, supply chain management, closed-loop supply chain, fuzzy analytic network process

Procedia PDF Downloads 676
415 Parametric Optimization of Wire Electric Discharge Machining (WEDM) for Aluminium Metal Matrix Composites

Authors: G. Rajyalakhmi, C. Karthik, Gerson Desouza, Rimmie Duraisamy

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In this present work, metal matrix composites with combination of aluminium with (Sic/Al2O3) were fabricated using stir casting technique. The objective of the present work is to optimize the process parameters of Wire Electric Discharge Machining (WEDM) composites. Pulse ON Time, Pulse OFF Time, wire feed and sensitivity are considered as input process parameters with responses Material Removal Rate (MRR), Surface Roughness (SR) for optimization of WEDM process. Taguchi L18 Orthogonal Array (OA) is used for experimentation. Grey Relational Analysis (GRA) is coupled with Taguchi technique for multiple process parameters optimization. ANOVA (Analysis of Variance) is used for finding the impact of process parameters individually. Finally confirmation experiments were carried out to validate the predicted results.

Keywords: parametric optimization, particulate reinforced metal matrix composites, Taguchi-grey relational analysis, WEDM

Procedia PDF Downloads 582
414 Market Illiquidity and Pricing Errors in the Term Structure of CDS

Authors: Lidia Sanchis-Marco, Antonio Rubia, Pedro Serrano

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This paper studies the informational content of pricing errors in the term structure of sovereign CDS spreads. The residuals from a non-arbitrage model are employed to construct a Price discrepancy estimate, or noise measure. The noise estimate is understood as an indicator of market distress and reflects frictions such as illiquidity. Empirically, the noise measure is computed for an extensive panel of CDS spreads. Our results reveal an important fraction of systematic risk is not priced in default swap contracts. When projecting the noise measure onto a set of financial variables, the panel-data estimates show that greater price discrepancies are systematically related to a higher level of offsetting transactions of CDS contracts. This evidence suggests that arbitrage capital flows exit the marketplace during time of distress, and this consistent with a market segmentation among investors and arbitrageurs where professional arbitrageurs are particularly ineffective at bringing prices to their fundamental values during turbulent periods. Our empirical findings are robust for the most common CDS pricing models employed in the industry.

Keywords: credit default swaps, noise measure, illiquidity, capital arbitrage

Procedia PDF Downloads 569
413 A Tool to Represent People Approach to the Use of Pharmaceuticals and Related Criticality and Needs: A Territory Experience

Authors: Barbara Pittau, Piergiorgio Palla, Antonio Mastino

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Communication is fundamental to health education. The proper use of medicinal products is a crucial aspect of the health of citizens that affects both safety and health care spending. Therefore, encouraging/promoting communication, concerning the importance of proper use of pharmaceuticals, has substantial implications in terms of individual health, health care, and health care system sustainability. In view of these considerations, in the context of two projects, one of which is still in progress, a relational database-backed web application named COLLABORAFARMACISOLA has been designed and developed as a tool to analyze and visualize how people approach the use of medicinal products, with the aim of improving and enhancing communication efficacy. The software application is being used to collect information (anonymously and voluntarily) from the citizens of Sardinia, an Italian region, regarding their knowledge, experiences, and opinions towards pharmaceuticals. This study that was conducted to date on thousand of interviewed people, has focused on different aspects such as: the treatment interruption and the "self-prescription” without medical consultation, the attention paid to reading the leaflets, the awareness of the economic value of the pharmaceuticals, the importance of avoiding the waste of medicinal products and the attitudes towards the use of generics. To this purpose, our software application provides a set of ad hoc parsing routines, to store information into the structure of a relational database and to process and visualize it through a set of interactive tools aimed to emphasize the findings and the insights obtained. The results of our preliminary analysis show the efficacy of the awareness plan and, at the same time, the criticality and the needs of the territory under examination. The ultimate goal of our study is to provide a contribution to the community by improving communication that can result in a benefit for public health in a context strictly connected to the reality of the territory.

Keywords: communication, pharmaceuticals, public health, relational database, tool, web application

Procedia PDF Downloads 138
412 Evidence from the Ashanti Region in Ghana: A Correlation Between Principal Instructional Leadership and School Performance in Senior High Schools

Authors: Blessing Dwumah Manu, Dawn Wallin

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This study aims to explore school principal instructional leadership capabilities (Robinson, 2010) that support school performance in senior high schools in Ghana’s Northern Region. It explores the ways in which leaders (a) use deep leadership content knowledge to (b) solve complex school-based problems while (c) building relational trust with staff, parents, and students as they engage in the following instructional leadership dimensions: establishing goals and expectations; resourcing strategically; ensuring quality teaching; leading teacher learning and development and ensuring an orderly and safe environment (Patuawa et al, 2013). The proposed research utilizes a constructivist approach to explore the experiences of 18 school representatives (including principals, deputy principals, department heads, teachers, parents, and students) through an interview method.

Keywords: instructional leadership, leadership content knowledge, solving complex problems, building relational trust and school performance

Procedia PDF Downloads 110
411 The Effects of Social Capital and Empowering Leadership on Team Cohesion

Authors: Y. R. Lai, J. C. Jehng, T. T. Chang

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Team is a popular job design in the management settings. Because people on a team need to work together to complete a lot of tasks, the interaction between team members strongly influences team effectiveness. The study examines the effect of social capital and empowering leadership on team cohesion. There are three facets of social capital: structural facet, relational facet, and cognitive facet. Empowering leadership includes enhancing the meaningfulness of work, fostering participation in decision making, expressing confidence in high performance, and providing autonomy from bureaucratic constraints. Data were collected from 181 team members of 47 teams in the real estate agency industry. The results show that the relational social capital, enhancing the meaningfulness of work, and providing autonomy from bureaucratic constraints are positively related to two dimensions of team cohesion: sense of belonging and feelings of moral. Additionally, expressing confidence in high performance is negatively related to sense of belonging.

Keywords: social capital, empowering leadership, team cohesion, team effectiveness

Procedia PDF Downloads 423
410 Resocializing Corporate Mindfulness and Meditation: A Relational-Sociological Account of Mindfulness Course Curricula in the Workplace

Authors: Katie Temple

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This paper investigates how corporate actors forge commensurability between Buddhist-based mindfulness techniques and day-to-day organizational life. In-depth interviews were conducted with mindfulness instructors certified through Google’s Search Inside Yourself Leadership Institute (SIYLI), an organization that designs corporate mindfulness program curricula based on their experiences guiding courses in Fortune 500 companies. Drawing from anti-essentialist sociology and interpretive data analysis, this paper describes instructors’ use of their standardized teacher guidebooks, a regulatory script all SIYLI-certified instructors must adhere to, and instructors’ reinterpretations of teaching protocols at the local level. Instructors mediate standardized rules through their embodied knowledge, perceived receptivity and effect of a given audience, and their political values. Instructors also resist standardizing practices by developing creative, under-the-radar tactics to deviate from the guidebook and assert their own spiritual autonomy. This research contributes to growing debates challenging critical and neoliberal accounts of capitalist abstraction.

Keywords: anti-essentialism, corporate culture, interpretive methods, mindfulness and meditation, relational sociology

Procedia PDF Downloads 98
409 Lease Contract: Concept and Types, Comparative Legal Analysis Between Bulgarian Legislation and European Countries

Authors: Veselin Konstantinov Hristov

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In recent years, the lease contract has become more and more applicable and occupies a key place in commercial relations and business. In Bulgaria, the legal regulation of the leasing contract is relatively new and imperfectly developed. There are many legal loopholes and it is they that determine the need for a comparative legal analysis. The purpose of the study is to analyze the various European legislations regarding the leasing contract and to find effective solutions for the legal system of Bulgaria. First of all, are examined the concept of the leasing contract, which originated in the United States of America around the 1950s and spread in Europe, and the etymology of the term "leasing". After that, the main types of lease contracts – financial and operational – are examined and analyzed in detail. Their features and characteristics were studied, as well as a comparative analysis was made between them. Next, in the research, a comparative-legal analysis of the leasing contract in different European countries was made in terms of its development and distribution, as well as its legal characteristics. The mechanism of action and functioning of the leasing contract in several European countries is analyzed. Conclusions are made regarding the legal framework under which the lease contract is most effective. Types of leasing contracts specific only to certain European countries and their advantages are examined. In conclusion, recommendations are made to improve the legal framework of the leasing contract in Bulgaria.

Keywords: alternative financing, leasing contract, financing instruments, innovation

Procedia PDF Downloads 84
408 Production Sharing Contracts Transparency Simulation

Authors: Chariton Christou, David Cornwell

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Production Sharing Contract (PSC) is the type of contract that is being used widely in our time. The financial crisis made the governments tightfisted and they do not have the resources to participate in a development of a field. Therefore, more and more countries introduce the PSC. The companies have the power and the money to develop the field with their own way. The main problem is the transparency of oil and gas companies especially in the PSC and how this can be achieved. Many discussions have been made especially in the U.K. What we are suggesting is a dynamic financial simulation with the help of a flow meter. The flow meter will count the production of each field every day (it will be installed in a pipeline). The production will be the basic input of the simulation. It will count the profit, the costs and more according to the information of the flow meter. In addition it will include the terms of the contract and the costs that have been paid. By all these parameters the simulation will be able to present in real time the information of a field (taxes, employees, R-factor). By this simulation the company will share some information with the government but not all of them. The government will know the taxes that should be paid and what is the sharing percentage of it. All of the other information could be confidential for the company. Furthermore, oil company could control the R-factor by changing the production each day to maximize its sharing percentages and as a result of this the profit. This idea aims to change the way that governments 'control' oil companies and bring a transparency evolution in the industry. With the help of a simulation every country could be next to the company and have a better collaboration.

Keywords: production sharing contracts, transparency, simulation

Procedia PDF Downloads 376
407 Nurses' and Patients’ Perception about Care: A Comparative Study

Authors: Evangelia Kotrotsiou, Mairy Gouva, Theodosios Paralikas, Maria Fiaka, Styliani Kotrotsiou, Maria Malliarou

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The purpose of this research is to investigate the way nurses perceive the care provided in comparison to the way patients perceive it, taking into account existing literature. As far as the sample of research is concerned, it has come from the population of nurses working in the General Hospital of Thessaloniki, St. Paul and the patients of its surgical clinic. In the present study, the sample consists of 100 nurses and 88 patients. The questionnaire used was the Caring Nurse-Patient Interactions Scale: 23-Item Version, created by Cossette et al. (2006). In the case of both patients and nurses, a high score was observed in relational care in the case of the frequency of nursing care in daily practice, as well as the satisfaction of providing nursing care. Overall, patients rated higher clinical care in the case of the frequency of nursing care in daily practice, as well as the satisfaction of the clinical care they were given. On the other hand, nurses rated higher comfort care in the case of the frequency of nursing care in everyday practice, as well as relational care in the area of the importance of nursing care in everyday practice.

Keywords: nursing care, patient needs, patient satisfaction, care giving

Procedia PDF Downloads 397
406 Recommender System Based on Mining Graph Databases for Data-Intensive Applications

Authors: Mostafa Gamal, Hoda K. Mohamed, Islam El-Maddah, Ali Hamdi

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In recent years, many digital documents on the web have been created due to the rapid growth of ’social applications’ communities or ’Data-intensive applications’. The evolution of online-based multimedia data poses new challenges in storing and querying large amounts of data for online recommender systems. Graph data models have been shown to be more efficient than relational data models for processing complex data. This paper will explain the key differences between graph and relational databases, their strengths and weaknesses, and why using graph databases is the best technology for building a realtime recommendation system. Also, The paper will discuss several similarity metrics algorithms that can be used to compute a similarity score of pairs of nodes based on their neighbourhoods or their properties. Finally, the paper will discover how NLP strategies offer the premise to improve the accuracy and coverage of realtime recommendations by extracting the information from the stored unstructured knowledge, which makes up the bulk of the world’s data to enrich the graph database with this information. As the size and number of data items are increasing rapidly, the proposed system should meet current and future needs.

Keywords: graph databases, NLP, recommendation systems, similarity metrics

Procedia PDF Downloads 105
405 Sustainable Development, China’s Emerging Role via One Belt, One Road

Authors: Saeid Rabiei Majd, Motahareh Alvandi, Mehrad Rabiei

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The rapid economic and technological development of any country depends on access to cheap sources of energy. Competition for access to petroleum resources is always accompanied by numerous environmental risks. These factors have caused more attention to environmental issues and sustainable development in petroleum contracts and activities. Nowadays, a sign of developed countries is adhering to the principles and rules of international environmental law and sustainable development of commercial contracts. China has entered into play through the massive project plan, One Belt, One Road. China is becoming a new emerging power in the world. China's bilateral investment treaties have an impact on environmental rights and sustainable development through regional and international foreign direct investment. The aim of this research is to examine China's key position to promote and improve environmental principles and international law and sustainable development in the energy sector in the world through the initiative, One Belt, One Road. Based on this hypothesis, it seems that in the near future, China's investment bilateral investment treaties will become popular investment model used in global trade, especially in the field of energy and sustainable development. They will replace the European and American models. The research method is including literature review, analytical and descriptive methods.

Keywords: principles of sustainable development, oil and gas law, Chinas BITs, One Belt One Road, environmental rights

Procedia PDF Downloads 306
404 Analysis of Entrepreneurship in Industrial Cluster

Authors: Wen-Hsiang Lai

Abstract:

Except for the internal aspects of entrepreneurship (i.e. motivation, opportunity perspective and alertness), there are external aspects that affecting entrepreneurship (i.e. the industrial cluster). By comparing the machinery companies located inside and outside the industrial district, this study aims to explore the cluster effects on the entrepreneurship of companies in Taiwan machinery clusters (TMC). In this study, three factors affecting the entrepreneurship in TMC are conducted as “competition”, “embedded-ness” and “specialized knowledge”. The “competition” in the industrial cluster is defined as the competitive advantages that companies gain in form of demand effects and diversified strategies; the “embedded-ness” refers to the quality of company relations (relational embedded-ness) and ranges (structural embedded-ness) with the industry components (universities, customers and complementary) that affecting knowledge transfer and knowledge generations; the “specialized knowledge” shares the internal knowledge within industrial clusters. This study finds that when comparing to the companies which are outside the cluster, the industrial cluster has positive influence on the entrepreneurship. Additionally, the factor of “relational embedded-ness” has significant impact on the entrepreneurship and affects the adaptation ability of companies in TMC. Finally, the factor of “competition” reveals partial influence on the entrepreneurship.

Keywords: entrepreneurship, industrial cluster, industrial district, economies of agglomerations, Taiwan Machinery Cluster (TMC)

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403 Empowering Certificate Management with Blockchain Technology

Authors: Yash Ambekar, Kapil Vhatkar, Prathamesh Swami, Kartikey Singh, Yashovardhan Kaware

Abstract:

The rise of online courses and certifications has created new opportunities for individuals to enhance their skills. However, this digital transformation has also given rise to coun- terfeit certificates. To address this multifaceted issue, we present a comprehensive certificate management system founded on blockchain technology and strengthened by smart contracts. Our system comprises three pivotal components: certificate generation, authenticity verification, and a user-centric digital locker for certificate storage. Blockchain technology underpins the entire system, ensuring the immutability and integrity of each certificate. The inclusion of a cryptographic hash for each certificate is a fundamental aspect of our design. Any alteration in the certificate’s data will yield a distinct hash, a powerful indicator of potential tampering. Furthermore, our system includes a secure digital locker based on cloud storage that empowers users to efficiently manage and access all their certificates in one place. Moreover, our project is committed to providing features for certificate revocation and updating, thereby enhancing the system’s flexibility and security. Hence, the blockchain and smart contract-based certificate management system offers a robust and one-stop solution to the escalating problem of counterfeit certificates in the digital era.

Keywords: blockchain technology, smart contracts, counterfeit certificates, authenticity verification, cryptographic hash, digital locker

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402 Streamlining .NET Data Access: Leveraging JSON for Data Operations in .NET

Authors: Tyler T. Procko, Steve Collins

Abstract:

New features in .NET (6 and above) permit streamlined access to information residing in JSON-capable relational databases, such as SQL Server (2016 and above). Traditional methods of data access now comparatively involve unnecessary steps which compromise system performance. This work posits that the established ORM (Object Relational Mapping) based methods of data access in applications and APIs result in common issues, e.g., object-relational impedance mismatch. Recent developments in C# and .NET Core combined with a framework of modern SQL Server coding conventions have allowed better technical solutions to the problem. As an amelioration, this work details the language features and coding conventions which enable this streamlined approach, resulting in an open-source .NET library implementation called Codeless Data Access (CODA). Canonical approaches rely on ad-hoc mapping code to perform type conversions between the client and back-end database; with CODA, no mapping code is needed, as JSON is freely mapped to SQL and vice versa. CODA streamlines API data access by improving on three aspects of immediate concern to web developers, database engineers and cybersecurity professionals: Simplicity, Speed and Security. Simplicity is engendered by cutting out the “middleman” steps, effectively making API data access a whitebox, whereas traditional methods are blackbox. Speed is improved because of the fewer translational steps taken, and security is improved as attack surfaces are minimized. An empirical evaluation of the speed of the CODA approach in comparison to ORM approaches ] is provided and demonstrates that the CODA approach is significantly faster. CODA presents substantial benefits for API developer workflows by simplifying data access, resulting in better speed and security and allowing developers to focus on productive development rather than being mired in data access code. Future considerations include a generalization of the CODA method and extension outside of the .NET ecosystem to other programming languages.

Keywords: API data access, database, JSON, .NET core, SQL server

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401 Synergy and Complementarity in Technology-Intensive Manufacturing Networks

Authors: Daidai Shen, Jean Claude Thill, Wenjia Zhang

Abstract:

This study explores the dynamics of synergy and complementarity within city networks, specifically focusing on the headquarters-subsidiary relations of firms. We begin by defining these two types of networks and establishing their pivotal roles in shaping city network structures. Utilizing the mesoscale analytic approach of weighted stochastic block modeling, we discern relational patterns between city pairs and determine connection strengths through statistical inference. Furthermore, we introduce a community detection approach to uncover the underlying structure of these networks using advanced statistical methods. Our analysis, based on comprehensive network data up to 2017, reveals the coexistence of both complementarity and synergy networks within China’s technology-intensive manufacturing cities. Notably, firms in technology hardware and office & computing machinery predominantly contribute to the complementarity city networks. In contrast, a distinct synergy city network, underpinned by the cities of Suzhou and Dongguan, emerges amidst the expansive complementarity structures in technology hardware and equipment. These findings provide new insights into the relational dynamics and structural configurations of city networks in the context of technology-intensive manufacturing, highlighting the nuanced interplay between synergy and complementarity.

Keywords: city system, complementarity, synergy network, higher-order network

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400 Experiencing the Shattered: Managing Countertransference Experiences with Anorexia Patients in Psychotherapy

Authors: M. Card

Abstract:

Working with anorexia patients can be a challenging experience for mental and health care professionals. The reasons for not wanting to work with this patient population stems from the numerous concerns surrounding the patient’s health – physically and mentally. Many health care professionals reported having strong negative feelings, such as; anger, hopelessness and helplessness when working with anorexia patients. These feelings often impaired their judgement to treatment and affected how they related to the patient. This research focused on psychotherapists who preferred to work with anorexia patients; what countertransference feelings were evoked in them during sessions with patients and most importantly, how they managed the feelings. The research used interpretative phenomenological analysis (IPA) as the theoretical framework and data analysis method. Semi-structured interviews were used with ten experienced psychotherapists to obtain their countertransference experiences with anorexia patients and how they manage it. There were three main themes discovered; (1) the use of supervision, (2) their own personal therapy and finally (3) experience and evolution. The research unearthed that experienced psychotherapists also experienced strong countertransference feelings towards their patients; some positive and some negative. However, these feelings could actually be interpreted as co-transference with their anorexia patients. The psychotherapists were able to own their part in the evocative unconscious nature of a relational therapeutic space, where their personal issues may be entangled in their anorexia patient’s symptomatology.

Keywords: anorexia nervosa, countertransference, co-transference, psychotherapy, relational psychotherapy

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399 Loving is Universal, Dating is not: Dating Experiences of International Students in Vancouver

Authors: Nel Jayson Santos

Abstract:

The growing number of international students in post-secondary institutions in Canada has positively contributed to the country’s economy and educational systems while also enriching cultural diversity in the classrooms. However, international students face social and relational challenges as they try to adapt to their host nation’s culture. One specific area of cultural adaptation among international students that has yet to be studied extensively is dating experiences and romantic relationships. Although numerous studies have been done regarding the relational challenges and dating experiences of American international students, only a few studies have focused on international students based in Canada. Hence, this study examines the dating preferences, dating challenges, and dating adaptations of international students based in Vancouver, Canada. Using a social constructivist approach, a semi-structured interview was conducted among fifteen heterosexual international college students. Inductive thematic analysis was then used to analyze the gathered data and identify common themes. Findings suggest that students’ (1) preferences were influenced by racial background and parental approval of dating partners; (2) students experienced language barriers and cultural differences; (3) students adapted through constant communication and being open-minded. Finally, the analysis intends to help counselors and psychologists in various colleges to help understand the issues of international students in terms of intimate and romantic relationships.

Keywords: higher education, international students, dating experiences, cultural adaptation

Procedia PDF Downloads 209