Search results for: economic independence

Authors: Rui Du

Abstract:

This paper attempts to assess the impact of a major sporting event —the Super Bowl on the local economies. The identification strategy is to compare the winning and losing cities at the National Football League (NFL) conference finals under the assumption of similar pre-treatment trends. The stock market performances of companies headquartered in these cities are used to capture the sudden changes in local economic activities during a short time span. The exogenous variations in the football game outcome allow a straightforward difference-in-differences approach to identify the effect. This study finds that the post-event trends in winning and losing cities diverge despite the fact that both cities have economically and statistically similar pre-event trends. Empirical analysis provides suggestive evidence of a positive, significant local economic impact of conference final wins, possibly through city image enhancement. Further empirical evidence shows the presence of heterogeneous effects across industrial sectors, suggesting that city image enhancing the effect of the Super Bowl participation is empirically relevant for the changes in the composition of local industries. Also, this study also adopts a similar strategy to examine the local economic impact of Super Bowl successes, however, finds no statistically significant effect.

Keywords: Super Bowl Participation, local economies, city image enhancement, difference-in-differences, industrial sectors

Procedia PDF Downloads 235

Authors: Tecla Rita Karendi, Andy Cons Matata

Abstract:

Although before and at the advent of colonial administration, several women such as Mekatilili wa Menza and Muthoni Nyanjiru took up leadership positions in resisting the colonial administration. Kenya is generally considered a patriarchal society. Many women who tried to take up positions of leadership in postcolonial Kenya, such as the Nobel Prize winner Wangari Maathai, were branded as prostitutes or generally immoral women. However, the Constitution of Kenya, 2010, has since made a huge impact not only in the area of affirmative action but also in various aspects of the feminist legal theory such as the constitutional requirement that no more than two-thirds of the members of the elective or appointive bodies should be of the same gender. This favours women who are often sidelined in elective posts such as parliament or county assemblies and state-appointed posts in the parastatals and commissions. The constitution also recognizes the right to abortion, which was outrightly outlawed in the independence constitution. Certain practices adverse to women’s health, such as wife inheritance, female genital mutilation, and property rights, are either outlawed or framed to recognized women’s rights. The education of the girl-child is also now considered a priority, unlike in the past. Despite these developments, a lot remains to be done.

Keywords: feminist legal theory, constitution of Kenya, 2010, affirmative action, leadership

Procedia PDF Downloads 215

Authors: Priya Sharma

Abstract:

As one think of fashion, the only things that come to mind are feminine activities such as acquiring high-end bags, clothing, and shoes. A person's personal style is defined by their clothing. Fashion been more feminine over the centuries, but the masculine identity has also dwindled. Fashion has an impact on social status, trends, and the socio-economic and political environment. The major focus of this study is on how the most prominent fast fashion businesses establish their gender identities in order to achieve industry legitimacy. A questionnaire survey was conducted to understand the people prospection. It also helps in understanding the different driving factors which contribute collectively from the Doman from social and economic norms across the different reign in India. A conceptual module was made which help to understand the future scope of fashion with respect to gender identity in India. The ways there feel to create their own personal style and their feelings and how fashion can make more confident and authentic in their minds.

Keywords: fashion, gender, identity, feminism, environment

Procedia PDF Downloads 371

Authors: Abdulaziz Abdulsaleh

Abstract:

This study aims at identifying the practices that should be taken into consideration by audit committees as a tool of corporate governance in Libyan commercial banks by investigating various perceptions on this topic. The study is based on a questionnaire submitted to audit committees ‘members at Libyan commercial banks, directors of internal audit departments as well as members of board of directors at these banks in addition to a number of external auditors and academic staff from Libyan universities. The study reveals that the role of audit committees has to be shifted from traditional areas of accounting to a broader role including functions related to financial reporting, audit planning, support the independence of internal and external auditors, acting as a channel of communication between external auditors and board of directors, reviewing external audit, and evaluating internal control systems. Although the study is a starting point in developing a framework of good audit committees’ practices in Libya, it is believed that the adoption of its results can result in enhancing the corporate governance practices not only in the banking sector but also in the entire corporate sector in Libya.

Keywords: audit committees, corporate governance, commercial banks, Libya

Procedia PDF Downloads 396

Authors: Hafiz Awais Ahmad

Abstract:

This paper aims to examine the root causes of gender-based violence (GBV) in Pakistan and proposes strategies to address this issue. Using a qualitative approach, this study analyzed data from various sources, including interviews with survivors of GBV and experts in the field. The findings revealed that GBV in Pakistan is deeply rooted in patriarchal attitudes and practices, economic insecurity, lack of education, and limited access to justice. The study recommends a multi-faceted approach to address GBV, including legislative reforms, awareness-raising campaigns, economic empowerment, and improved access to justice for survivors. Furthermore, the study highlights the importance of engaging men and boys in efforts to address GBV and promote gender equality. The findings of this study have important implications for policy-makers, practitioners, and researchers working towards ending GBV in Pakistan.

Keywords: gender-based violence, Pakistan, legislative reforms, advocacy

Procedia PDF Downloads 144

Authors: Reza Beheshti

Abstract:

This paper examines remedies for defective manufactured goods in commercial circular economic transactions. The linear ‘take-make-dispose’ model fits well with the conventional remedial framework in which damages are considered the primary remedy. Damages under English Sales Law encourages buyers to look for a substitute seller with broadly similar goods to the ones agreed on in the original contract, enter into contract with this new seller and hence terminate the original contract. By doing so, the buyer ends the contractual relationship. This seems contrary to the core principles of the circular economy: keeping products, components, and materials in longer use, which can partly be achieved by product refurbishment. This process involves returning a product to good working condition by replacing or repairing major components that are faulty or close to failure and making ‘cosmetic’ changes to update the appearance of a product. This remedy has not been widely accepted or applied in commercial cases, which in turn flags up the secondary nature of performance-related remedies. This paper critically analyses the laws concerning the seller’s duty to cure in English law and the extent to which they correspond with core principles of the circular economy. In addition, this paper takes into account the potential of circular economic transactions being characterised as something other than sales. In such situations, the likely outcome will be a license to use products, which may limit the choice of remedy further. Consequently, this paper suggests an outline remedial framework specifically for commercial circular economic transactions in manufactured goods.

Keywords: circular economy, contract law, remedies, English Sales Law

Procedia PDF Downloads 148

Authors: Muhammad A. Ishaq, S. U. R. Aliyu

Abstract:

This paper on an exposition of Islamic fiscal policy attempts to discuss the basic principles of Islamic fiscal policy in an Islamic economy. The paper presents a number of definitions of the subject matter, its nature and its tools of application. Government spending, taxation and public borrowings were identified as the tools of the policy. The paper identifies zakat both as a veritable source of revenue and a major instrument of economic stabilization. Furthermore, the paper presents an algebraic 2-sector and 3-sector models from the basic Keynesian model. The paper posits that in view of uniqueness of its instruments, absence of interest rate in the economy and the policy’s derive towards socioeconomic justice and redistribution, Islamic fiscal policy is capable of stabilizing Islamic economy and ushering it into the path of long term economic growth and prosperity.

Keywords: automatic built-in-stabilizers, government spending, Islamic fiscal policy, taxation, zakat

Procedia PDF Downloads 332

Authors: Shabeer Khan

Abstract:

The main objective of Islamic Finance is to promote social justice thorough financial inclusion and redistribution of economic resources between rich and poor. The approach of Islamic finance is more comprehensive in nature and covers both formal and informal sectors of the economy, first, through reducing the gap between both sectors, and second by using specific Islamic values to reallocate the wealth between formal and informal sectors. Applying Generalized Method of Movements (GMM) to the annual data spanning from 1995-2015 for 141 countries, this study explores the determinants of informal business sector in Organization of Islamic Cooperation (OIC) countries and then compares with Non-OIC countries. Economic freedom and institutions variables as well as economic growth and money supply are found to reduce informal business sector in both OIC and Non-OIC nations while government expenditure are found to increase informal business sector in both group of nations. Informal Business sector remain the same in both types of countries but still the majority Muslim population in OIC economies create main difference between both groups of nations and justify the potential role of Islamic Finance in informal business sector in OIC nations. The study suggests that institutions quality should be improved and entrepreneurs’ friendly business environment must be provided. This study refines the main features of informal business sector and discuss their implications on policy designing and implementation, particularly in the context of Islamic finance fight against poverty, inequality and improving living standards of informal sector participants in OIC countries.

Keywords: Islamic finance, informal Business Sector, Generalized Method of Movements (GMM) and OIC

Procedia PDF Downloads 145

Authors: Dharmit Viroja, Prerakkumar Shah, Rajanikant Gajera, Ruchit Shah

Abstract:

With present scenario of aging oil and gas fields with high water cuts, volatile oil prices and increasing greenhouse gas emission, the need for alleviating such issues has necessitated for oil and gas industry to make the maximum out of available assets, infrastructure and reserves in mother Earth. Study undertaken emphasizes on utilizing Geothermal Energy under specific reservoir conditions for Enhanced oil Recovery (EOR) to boost up production. Allied benefits of this process include mitigation of electricity problem in remote fields and controlled CO-emission. Utilization of this energy for EOR and increasing economic life of field could surely be rewarding. A new way to value oil lands would be considered if geothermal co-production is integrated in the field development program. Temperature profile of co-produced fluid across its journey is a pivotal issue which has been studied. Geo pressured reservoirs resulting from trapped brine under an impermeable bed is also a frontier for exploitation. Hot geothermal fluid is a by-product of large number of oil and gas wells, historically this hot water has been seen as an inconvenience; however, it can be looked at as a useful resource. The production of hot fluids from abandoned and co-production of hot fluids from producing wells has potential to prolong life of oil and gas fields. The study encompasses various factors which are required for use of this technology and application of this process across various phases of oil and gas value chain. Interdisciplinary approach in oil and gas value chain has shown potential for economic production of estimated oil and gas reserves.

Keywords: enhanced oil recovery, geo-pressured reservoirs, geothermal energy, oil and gas value chain

Procedia PDF Downloads 335

Authors: Aloysius Colman Chukwuemeka Ezeabasili, Chibuike Patrick Ezeabasili

Abstract:

Medium Sized Construction Companies in Nigeria are those employing 50-250 workers that are mostly involved in roads, Commercial and domestic building Construction, among others. These companies are in the majority and contribute immensely to infrastructural development in Nigeria. Despite the last eight years of economic downturn and the past years of COVID-19 pandemic, signs of these Companies recovering from the economic recession and pandemic seem bright. Nigeria has recorded 213,000 confirmed cases 3968 deaths from COVID-19 as at now. These medium sized companies are currently trying to explore various opportunities to grow their businesses to achieve competitive advantages over others by studying and improving on their bidding efficiency, Strategies for selecting businesses, bidding markup Strategies, and cash flow. These strategies were studied through the recruitment of construction experts and professionals. Many of them have acquired new technologies that have impacted positively on their strategies. The impact of these technologies like the BIM, e-tendering, conditions of contract, and claim management strategies are advantages to them and has given them good advantages over their peers. Monte Carlo solution, Swot analysis, and average bid methods have also clearly added advantages to bidding practices. New and existing strategies are Scrutinized, and training of young Nigerians in advanced countries to acquire knowledge in best practices have elevated some of these companies. The Covid-19 has not been very harsh to Nigeria, and the country is surely not as devastated as the advanced countries. Nigeria has therefore been able to cope with the combination of the downturn and the pandemic.

Keywords: medium sized construction companies, competitive advantage, new bidding technologies, Nigeria

Procedia PDF Downloads 132

Authors: Iacopo Odoardi, Emanuele Felice, Dario D'Ingiullo

Abstract:

We investigate the role of human capital in the Chinese inland-coastal inequality and how the consequences of the 2007-2008 crisis may induce China to refocus its development path on human capital. We compare panel data analyses for two periods for the richer/coastal and the relatively poor/inland provinces. Considering the rapid evolution of the Chinese economy and the changes forced by the international crisis, we wonder if these events can lead to rethinking local development paths, fostering greater attention on the diffusion of higher education. We expect that the consequences on human capital may, in turn, have consequences on the inland/coastal dualism. The focus on human capital is due to the fact that the growing differences between inland and coastal areas can be explained by the different local endowments. In this respect, human capital may play a major role and should be thoroughly investigated. To assess the extent to which human capital has an effect on economic growth, we consider a fixed-effects model where differences among the provinces are considered parametric shifts in the regression equation. Data refer to the 31 Chinese provinces for the periods 1998-2008 and 2009-2017. Our dependent variable is the annual variation of the provincial gross domestic product (GDP) at the prices of the previous year. Among our regressors, we include two proxies of advanced human capital and other known factors affecting economic development. We are aware of the problem of conceptual endogeneity of variables related to human capital with respect to GDP; we adopt an instrumental variable approach (two-stage least squares) to avoid inconsistent estimates. Our results suggest that the economic strengths that influenced the Chinese take-off and the dualism are confirmed in the first period. These results gain relevance in comparison with the second period. An evolution in local economic endowments is taking place: first, although human capital can have a positive effect on all provinces after the crisis, not all types of advanced education have a direct economic effect; second, the development path of the inland area is changing, with an evolution towards more productive sectors which can favor higher returns to human capital. New strengths (e.g., advanced education, transport infrastructures) could be useful to foster development paths of inland-coastal desirable convergence, especially by favoring the poorer provinces. Our findings suggest that in all provinces, human capital can be useful to promote convergence in growth paths, even if investments in tertiary education seem to have a negative role, most likely due to the inability to exploit the skills of highly educated workers. Furthermore, we observe important changes in the economic characteristics of the less developed internal provinces. These findings suggest an evolution towards more productive economic sectors, a greater ability to exploit both investments in fixed capital and the available infrastructures. All these aspects, if connected with the improvement in the returns to human capital (at least at the secondary level), lead us to assume a better reaction (i.e., resilience) of the less developed provinces to the crisis effects.

Keywords: human capital, inland-coastal inequality, Great Recession, China

Procedia PDF Downloads 202

Authors: Jungeun Cho

Abstract:

Social finance has received increasing attention as a means to promote the growth of regional economies. Despite the plenty of research discussed their critical role and functions in regional economic development such as the financing and promotion of co-operatives or social enterprises and the offering credit to the financially excluded in the region, however, rarely are efforts made to measure the contribution of social finance in the regional economy. It is essential to establish an evaluation model in order to encourage social finance institutions to perform their supposed role and functions on regional economic development. The objective of this paper is to formulate an evaluation model of the contribution of social finance to the regional economy through an analytic hierarchy process (AHP) approach. This study is expected to provide useful guidelines for social finance institutions’ strategies and the policies of local or central government regarding social finance.

Keywords: social finance, regional economy, social economy, policies of local or central government

Procedia PDF Downloads 429

Authors: Vorya Shabrandi

Abstract:

The study factors of poverty and inequality causes in countries is the subject of many scholars and economists in the last century, theorists in various areas of economic science know different factors as the roots of poverty and inequality in Iran after the 1979 revolution. Economists have emphasized political elements and political scientists on political elements. This research reviews the political economy of poverty and corruption in Iran after the revolution. The findings of this research, based on AcemOgluand Robinson theory, show how the institutional structural dependence of Iran's economy to raw has led to the growth of its non-economic economic institutions and its consequence of the continuity of the release and looting economy and poverty and inequality in Iran's political economy Is. This research was carried out using descriptive-analytical and comparative methods. Many economists try to justify the conditions of the country based on war, sanctions; And the external factors, and ... knows. In this study, we tried to examine the roots of poverty and the looting economy of Iran by implementing Research AcemOgluand Robinson on the institutions and roots of poverty. Looking for a framework for understanding why countries, such as Iran, the reason for the difference in revenue in different countries, as well as the poor or wealth of countries, regardless of the non-effective and non-professional institutions, and why inefficient institutions in some countries, such as Iran, such as Iran It remains and does not have a voluntary political powers to change these institutions. Findings The research shows that institutions are broadly the main reason for the roots of the robust and looting economy (poverty and inequality) in Iran.

Keywords: Iran, plunderable (Loot) economy, raw shopping, poverty and inequality, acem oglu and robinson, non-inclusive institutions

Procedia PDF Downloads 139

Authors: Krisna Damayanti

Abstract:

Negative issue about the relationship between auditors and clients often heard. It arises in view of the rise of a variety of phenomena resulting from the audit practice of greed and do not appreciate the independence of the audit profession and professional code of ethics. It is a logical consequence of the practice of capitalism in accounting. The purpose of this paper would like to uncover the existing auditing practices in Indonesia, especially Java, which is associated with a strong influence of Javanese culture with reluctant/"shy", politely, "legowo", "ngemong" friendly, "not mentholo", "tepo seliro", "ngajeni", "acquiescent". The method used by interpretive approach that emphasizes the role of language, interpret and understand and see social reality as something other than a label, name or concept. Auditing practices in each country has a culture that will affect the standard set by those regulatory standards although there has been an adaptation of IAS. In Indonesia the majority of parties dominated by Javanesse racial regulators, so Java culture is embedded in every audit practices thus conditions in Java requires auditors to behave like that, sometimes interfere with standard Java code of conduct that must be executed by an auditor. Auditors who live in Java have the characters of Javanese culture that is hard to avoid in the audit practice. However, in practice, the auditor still are relevant in their profession.

Keywords: auditors, java, character, profession, code of ethics, client

Procedia PDF Downloads 434

Authors: Ion Smeureanu, Adriana Reveiu, Marian Dardala, Titus Felix Furtuna, Roman Kanala

Abstract:

This paper proposes a linear model for optimizing domestic energy consumption, in Romania. Both techno-economic and consumer behavior approaches have been considered, in order to develop the model. The proposed model aims to reduce the energy consumption, in households, by assembling in a unitary model, aspects concerning: residential lighting, space heating, hot water, and combined space heating – hot water, space cooling, and passenger transport. This paper focuses on space heating domestic energy consumption model, and quantify not only technical-economic issues, but also consumer behavior impact, related to people decision to envelope and insulate buildings, in order to minimize energy consumption.

Keywords: consumer behavior, open source energy modeling system (OSeMOSYS), MARKAL/TIMES Romanian energy model, virtual technologies

Procedia PDF Downloads 536

Authors: Thanatip Lerttanaporn, Tuanjai Somboonwiwat, Charoenchai Khompatraporn

Abstract:

The automotive parts industry is one of the vital sectors in Thai economy and now is facing a greater competition from ASEAN Economic Community (AEC). This article identifies important factors that impact the competitiveness of Thai automotive parts industry. There are eight groups of factors with a total of 58 factors. Due to a variety of factors, the Exploratory Factor Analysis and Principle Component Analysis have been applied to classify factors into groups or principle components. The results show that there are 15 groups and four of them are critical, covering 80% of important value. These four critical groups are then used to formulate strategies to improve the competitiveness of the Thai automotive parts industry.

Keywords: factor analysis, Thai automotive parts, principle components, exploratory factor, ASEAN economic community

Procedia PDF Downloads 249

Authors: Liya Abraham

Abstract:

Eritrea is located along the Red Sea, north of the Horn of Africa, between Djibouti and Sudan and has a population of about 3.2 million as of 2010. It has six administrative regions; Anseba, Debub, Debubawi K’eyih Bahri, Gash-Barka, Ma'akel, and Semenawi K’eyih Bahri. Eritrea has got its independence in 1991 after 30 years war of liberation. The country is blessed with various medicinal flora and fauna, and marine and terrestrial biodiversity. Traditional Medicine (TM) has been an integral part of the Eritrean culture for centuries. So far, more than 19 TM modalities have been recognized, and are broadly categorized as; herbal, procedure-based and spiritual. Despite the availability of modern medicine to the majority of the population, TM is still widely practiced. The rationale behind widespread use is accessibility, affordability and cultural acceptability. Hence, TM is of great contribution to the Eritrean health care system. As a matter of fact, harnessing the potential contribution of effective and safe TM in order to attain Universal Health Coverage (UHC) has been emphasized in the WHO TM strategy 2014-2023. The Eritrean TM, however, was operating without regulation and reliable scientific justification behind its safety and efficacy. Thus, the Ministry of Health (MoH), in recognition of the role of TM in primary healthcare and safeguard public health, established a regulatory body for TM so-called as Traditional Medicine Unit (TMU) in 2012. The mission of the unit is to ensure rational TM use through an integrated health service delivery system and contribute to the country’s economic and social development. The unit has established its national TM policy in 2017. The activities of the unit are guided by the National TM Advisory Committee (TMAC), responsible for the provision of technical assistance and advisory role. Moreover, the Legal Framework and Code of Ethics and Practice which provide a legal basis for the regulation of TM have also been drafted. In recognition of the importance of TM research and development, the unit launched a nationwide TM survey in 2017 and had surveyed two zones (Gash-Barka and Debub). The findings of the survey were subjected to a research dissemination workshop and publication in international journals. Furthermore, TM-related adverse events reporting tool (Green Form) aiming to guide regulatory interventions and researches have been established by the unit, and ever since reports are flowing. The unit has also been offering training to THPs, pharmacy students and health care professionals regarding TM and its regulatory activities. In addition, as part of the establishment of the national medicinal plants' database and herbal monograph, more than 329 and 30 medicinal plants, have been compiled respectively. In conclusion, TM is still widely accepted and practiced in Eritrea. The TMU ever since its establishment is endeavoring to ensure the safety and efficacy of the TM, and its integration in the mainstream health service delivery system.

Keywords: efficacy, regulation, safety, traditional medicine, traditional medicine unit, universal health coverage

Procedia PDF Downloads 180

Authors: Kannapha Amaruchkul

Abstract:

We formulate a dynamic overbooking model for a tour operator, in which most reservations contain at least two people. The cancellation rate and the timing of the cancellation may depend on the group size. We propose two overbooking policies, namely economic- and service-based. In an economic-based policy, we want to minimize the expected oversold and underused cost, whereas, in a service-based policy, we ensure that the probability of an oversold situation does not exceed the pre-specified threshold. To illustrate the applicability of our approach, we use tour package data in 2016-2018 from a tour operator in Thailand to build a data-driven robust optimization model, and we tested the proposed overbooking policy in 2019. We also compare the data-driven approach to the conventional approach of fitting data into a probability distribution.

Keywords: applied stochastic model, data-driven robust optimization, overbooking, revenue management, tour operator

Procedia PDF Downloads 128

Authors: Komal Niazi, He Guoqiang

Abstract:

This paper is focused on ‘CPEC (China Pakistan Economic Corridor) a changing mechanism in Pakistan’. China Pakistan Economic Corridor (CPEC) activity under OBOR (One Belt One Road (OBOR) CPEC is a piece of the bigger umbrella and goes for giving another hallway of exchange for China and Pakistan and is relied upon to profit the entire of South Asian area. But this study reveals that significance of acculturation can never be overemphasized in the investigation of diverse impacts and the routes people groups of various ethnic personalities figure out how to adjust and acknowledge the social attributes of a larger part group in a multiethnic culture. This study also deals with the effects of acculturation which can be seen at multiple levels through CPEC for both Pakistani and Chinese people, who were working on this project. China and Pakistan exchanged the cultural and social patterns with each other. Probably the most perceptible gathering level impacts of cultural assimilation regularly incorporate changes in sustenance (food), clothing, and language. At the individual level, the procedure of cultural assimilation alludes to the socialization procedure by which the Pakistani local people and Chinese who were working in Pakistan adopted values, traditions, attitudes, states of mind, and practices. But China has imposed discourse through economic power and language. CPEC dominates Pakistan’s poor area’s and changes their living, social and cultural values. People also claimed this acculturation was a great threat to their cultural values and religious beliefs. Main findings of the study clearly ascertained that research was to find out the conceptual understanding of people about the acculturation process through CPEC. At the cultural level, aggregate activities and social organizations end up plainly adjusted, and at the behavioral level, there are changes in a person's day by day behavioral collection and some of the time in experienced anxiety. Anthropological data methods were used to collect data, like snowball and judgmental sampling, case studied methods.

Keywords: CPEC, acculturation process, language discourse, social norms, cultural values, religious beliefs

Procedia PDF Downloads 289

Authors: Ribeiro A., Vilarinho C., Luisa A., Carvalho J

Abstract:

The pig meat industry generates large volumes of by- and co-products like blood, bones, skin, trimmings, organs, viscera, and skulls, among others, during slaughtering and meat processing and must be treated and disposed of ecologically. The yield of these by-products has been reported to account for about 10% to 15% of the value of the live animal in developed countries, although animal by-products account for about two-thirds of the animal after slaughter. It was selected for further valorization of the principal wastes produced throughout the value chain of pig meat production: Pig Manure, Pig Bones, Fats, Skins, Pig Hair, Wastewater, Wastewater sludges, and other animal subproducts type III. According to the potential valorization options, these wastes will be converted into Biomethane, Fertilizers (phosphorus and digestate), Hydroxyapatite, and protein hydrolysates (Keratin and Collagen). This work includes comprehensive technical and economic analyses (TEA) for each valorization route or applied technology. Metrics such as Net Present Value (NPV), Internal Rate of Return (IRR), and payback periods were used to evaluate economic feasibility. From this analysis, it can be concluded that, for Biogas Production, the scenarios using pig manure, wastewater sludges and mixed grass and leguminous wastes presented a remarkably high economic feasibility. Scenarios showed high economic feasibility with a positive payback period, NPV, and IRR. The optimal scenario combining pig manure with mixed grass and leguminous wastes had a payback period of 1.2 years and produced 427,6269 m³ of biomethane annually. Regarding the Chemical Extraction of Phosphorous and Nitrogen, results proved that the process is economically unviable due to negative cash flows despite high recovery rates. The TEA of Hydrolysis and Extraction of Keratin Hydrolysates indicate that a unit processing and valorizing 10 tons of pig hair per year for the production of keratin hydrolysate has an NPV of 907,940 €, an IRR of 13.07%, and a Payback period of 5.41 years. All of these indicators suggest a highly potential project to explore in the future. On the opposite, the results of Hydrolysis and Extraction of Collagen Hydrolysates showed a process economically unviable with negative cash flows in all scenarios due to the high-fat content in raw materials. In fact, the results from the valorization of 10 tons of pig skin had a negative cash flow of 453 743,88 €. TEA results of Extraction and purification of Hydroxyapatite from Pig Bones with Pyrolysis indicate that unit processing and valorizing 10 tons of pig bones per year for the production of hydroxyapatite has an NPV of 1 274 819,00 €, an IRR of 65.43%, and a Payback period of 1,5 years over a timeline of 10 years with a discount rate of 10%. These valorization routes, circular economy and bio-refinery approach offer significant contributions to sustainable bio-based operations within the agri-food industry. This approach transforms waste into valuable resources, enhancing both environmental and economic outcomes and contributing to a more sustainable and circular bioeconomy.

Keywords: techno-economic analysis (TEA), pig meat processing wastes, circular economy, bio-refinery

Procedia PDF Downloads 4

Authors: Frew Yirgalem Mane

Abstract:

This study has examined Africa’s experiment with authoritarian model of development drawing from the experience of Ethiopia. With the tectonic crisis of neoliberal ideology, the dominant policy agenda in Africa pertains to bringing the state back to development. More concretely, countries epitomized by Ethiopia, Rwanda and Uganda have been constructing a highly interventionist state with authoritarian character. The central motive appears to facilitate development and salvage people out of appalling and grinding poverty. Each country warrants closer inspection. However, this study focuses on Ethiopia- a country often applauded as ‘Africa’s Great Run’ for delivering socio-economic success over the past two decades. In fact, inspired by East Asia’s including Chinese model of authoritarian development, Ethiopia orchestrated a vanguard party, centralized rent control system with politicized bureaucracy and militaristic mobilization resources for development. This arrangement may explain Ethiopia economic success story as one the fastest growing countries in the world. However, this paper detected, Ethiopia’s attempt to bring the state back in development has precipitated institutionalization of a new breed of authoritarianism and informalization of public institutions. Ethiopia’s model of state-led development may constitute a noticeable shift away from the vengeful adherence to neoliberal policies. However, the manner the model has been practiced proved to be neither smooth nor appears to address Ethiopia’s aspiration for political and economic transformation. Partly, this can be illustrated by recent widespread grievances that fed into the popular uprising and animated opposition against the state. Sources of the grievance are complex, but they are highly ingrained with the way the authoritarian model of development is functioning and also the model’s dis-functioning in terms of benefiting people. In light of these findings, the study has arrived at the following conclusion. Africa’s attempt to emulate development models from other countries is not such a ‘bad’ thing. However, emulation makes sense if it is contextualized and sensitive to complex local socio-economic interests.

Keywords: Africa, authoritarianism, development, Ethiopia, neoliberalism

Procedia PDF Downloads 193

Authors: Jaroslav Knapek, Kamila Vavrova, Tomas Kralik, Tereza Humesova

Abstract:

The treatment and disposal of sewage sludge is one of the most important and critical problems of waste water treatment plants. Currently, 180 thousand tonnes of sludge dry matter are produced in the Czech Republic, which corresponds to approximately 17.8 kg of stabilized sludge dry matter / year per inhabitant of the Czech Republic. Due to the fact that sewage sludge contains a large amount of substances that are not beneficial for human health, the conditions for sludge management will be significantly tightened in the Czech Republic since 2023. One of the tested methods of sludge liquidation is the production of alternative fuel from sludge from sewage treatment plants and paper production. The paper presents an analysis of economic efficiency of alternative fuel production from sludge and its use for fluidized bed boiler with nominal consumption of 5 t of fuel per hour. The evaluation methodology includes the entire logistics chain from sludge extraction, through mechanical moisture reduction to about 40%, transport to the pelletizing line, moisture drying for pelleting and pelleting itself. For economic analysis of sludge pellet production, a time horizon of 10 years corresponding to the expected lifetime of the critical components of the pelletizing line is chosen. The economic analysis of pelleting projects is based on a detailed analysis of reference pelleting technologies suitable for sludge pelleting. The analysis of the economic efficiency of pellet is based on the simulation of cash flows associated with the implementation of the project over the life of the project. For the entered value of return on the invested capital, the price of the resulting product (in EUR / GJ or in EUR / t) is searched to ensure that the net present value of the project is zero over the project lifetime. The investor then realizes the return on the investment in the amount of the discount used to calculate the net present value. The calculations take place in a real business environment (taxes, tax depreciation, inflation, etc.) and the inputs work with market prices. At the same time, the opportunity cost principle is respected; waste disposal for alternative fuels includes the saved costs of waste disposal. The methodology also respects the emission allowances saved due to the displacement of coal by alternative (bio) fuel. Preliminary results of testing of pellet production from sludge show that after suitable modifications of the pelletizer it is possible to produce sufficiently high quality pellets from sludge. A mixture of sludge and paper waste has proved to be a more suitable material for pelleting. At the same time, preliminary results of the analysis of the economic efficiency of this sludge disposal method show that, despite the relatively low calorific value of the fuel produced (about 10-11 MJ / kg), this sludge disposal method is economically competitive. This work has been supported by the Czech Technology Agency within the project TN01000048 Biorefining as circulation technology.

Keywords: Alternative fuel, Economic analysis, Pelleting, Sewage sludge

Procedia PDF Downloads 129

Authors: Nesrine Bouzaher, Okba Necira

Abstract:

The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore the national economy needs to develop the insurance market in order to support the investments, externally and internally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance; market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area.

Keywords: Algerian reinsurance data, demand trend of Algerian reinsurance, reinsurance, reinsurance market

Procedia PDF Downloads 373

Authors: Melchor C. Morandarte

Abstract:

Entrepreneurship education if well-designed, supported, and true to its sense in its implementation, can play a pivotal role in the development of Micro, small and Medium Enterprises (MSMEs) of the country. As its foundation, there is no amount of economic shocks that can prevent the country’s economic development and sustainability. Likewise, if properly developed, entrepreneurship education is the only kind of academic activity that rains employment opportunities propel and sustain economic growth. The study will try to find the contributions of the entrepreneurship education in the Philippines. Provide possible solutions that will solve academic heads and educators of entrepreneurship dilemma in making graduates of the program to engage or pursue a business after their graduation. Transforming BS in Entrepreneurship graduates from employment to an entrepreneurial minded individuals to establish and manage their owned businesses (as designed) whether micro, small or medium enterprises justifies the purpose within which it was created. Formally started in academic year 2006-2007, the program suffers in a very low enrollment in the first three academic years when it was first offered in the different HEIs all over the country. It started to experience only some increase in enrollment as a result of the moratorium in the Bachelor of Science in Business Administration (BSBA) in academic year 2011-2012 till today. The number of enrollees resulted in a substantial number of graduates. Considering the number of Bachelor of Science in Entrepreneurship graduates as of today, there would have been an additional number of business establishments from since the program started to be offered in the different HEIs throughout the country. In conclusion, coming up with a well-designed curriculum, relevant curricular, co-curricular and extra-curricular activities couple with much needed support from concerned government agencies, the institutions, other government and non-governmental institutions, private organizations, entrepreneurship practitioners can make the difference in terms of the mindset of the students of entrepreneurship.

Keywords: economic shocks, educators dilemma, rains employment opportunities, co-curricular

Procedia PDF Downloads 419

Authors: Mukesh Ranjan, Varsha Nagargoje

Abstract:

Applying the exploratory factor analysis (EFA), Women Employment Participation Perception Index (WEPPI) has been made through 13 components. The basic purpose of the WEPPI is to develop an index or search for the latent factors which will capture the attitude or perception of the Mumbai’s slum women towards women’s employment participation in the job market through primary survey based on 160 observations. Majority of the response analyzed under various socio-economic and demographic characteristics falls in the strongly agree or agree category. It means whether it is age wise, marital status-wise, caste, religion or economic dimension-wise women responded that they should participate in employment in Mumbai. Value of KMO test was 0.544 and chronbac’s alpha value was between 0.5-0.6, so the index falls in poor category and can be improved upon by adding more number of items.

Keywords: WEPPI, exploratory factor analysis, KMO test, Chronbac alpha

Procedia PDF Downloads 475

Authors: Bahram Soltani, Louai Ghazieh

Abstract:

Following the high profile financial scandals of 2007-2008, corporate management has been faced with strong pressures resulting from more regulatory requirements, as well as the increasing expectations of various groups of stakeholders. The responsibility acquired a big importance in front of this financial crisis. This responsibility requires more transparency and communication, inside the company with the collaborators and outside of the company with the society, while companies try to improve the degree of control and to authorize managers to realize the objectives of the company. The objective of this paper is to present the concept of the responsibility generally and the various types of manager’s responsibility in private individual within the company, as well as the explanatory theories of this responsibility through the various perspectives such as: economic, political, social and behavioral. This study should have academic and practical contributions particularly for regulators seeking to improve the companies’ practices and organizational functioning within capital market economy.

Keywords: manager, accountability, corporate performance, financial crisis, behavior

Procedia PDF Downloads 387

Authors: Donald Ouko

Abstract:

For decades, Africa has been home to several foreign companies doing business in various sectors. In recent years, China has consistently positioned itself as a development partner powerhouse among African nations. However, this has not been felt as equally beneficial to the local communities where the partnerships bloom in extractives trading. This paper explores the impact of Chinese involvement in mining on the local communities in three African countries, the factors that enable the sector to thrive amid the impacts, and what could be done differently for the local communities to experience a different outcome. It suggests alternative terms of engagement that aim at transparency, accountability, and anti-corruption to ensure inclusive social and economic development, and sound governance both at state and corporate levels.

Keywords: law and society, social development, corporate governance, China-Africa ties, human rights, socio-economic development, accountability, transparency

Procedia PDF Downloads 14

Authors: Pratap Sriram Sundar, Chandan Chowdhury, Sagar Kamarthi

Abstract:

Nature has perfected her designs over 3.5 billion years of evolution. Research fields such as biomimicry, biomimetics, bionics, bio-inspired computing, and nature-inspired designs have explored nature-made artifacts and systems to understand nature’s mechanisms and intelligence. Learning from nature, the researchers have generated sustainable designs and innovation in a variety of fields such as energy, architecture, agriculture, transportation, communication, and medicine. Axiomatic design offers a method to judge if a design is good. This paper analyzes design aspects of one of the nature’s amazing object: chicken egg. The functional requirements (FRs) of components of the object are tabulated and mapped on to nature-chosen design parameters (DPs). The ‘independence axiom’ of the axiomatic design methodology is applied to analyze couplings and to evaluate if eggs’ design is good (i.e., uncoupled design) or bad (i.e., coupled design). The analysis revealed that eggs design is a good design, i.e., uncoupled design. This approach can be applied to any nature’s artifacts to judge whether their design is a good or a bad. This methodology is valuable for biomimicry studies. This approach can also be a very useful teaching design consideration of biology and bio-inspired innovation.

Keywords: uncoupled design, axiomatic design, nature design, design evaluation

Procedia PDF Downloads 168

Authors: Protima Chakraborty

Abstract:

The sustainability of conventional agriculture in Bangladesh is under threat from the continuous degradation of land and water resources, and from declining yields due to indiscriminate use of agrochemicals. NASL (Northern Agro Services Limited) is pursuing efforts to promote ecological agriculture with emphasis on better use of organic fertilizer resources and the reduction of external inputs. This paper examines the sustainability of two production systems in terms of their environmental soundness, economic viability and social acceptability based on empirical data collected through making demonstration land cultivation, a household survey, soil sample analysis, observations and discussions with key informants. Twelve indicators were selected to evaluate sustainability. Significant differences were found between the two systems in crop diversification, soil fertility management, pests and diseases management, and use of agrochemicals & Organic Compost. However, significant variations were found in other indicators such as land-use pattern, crop yield and stability, risk and uncertainties, and food security. Although crop yield and financial return were found to be slightly higher in the ecological system, the economic return and value addition per unit of land show the positive difference of using compost rather than chemical fertilizer. The findings suggest that ecological agriculture has a tendency towards becoming ecologically, economically and socially more sound than conventional agriculture, as it requires considerably fewer agro-chemicals, adds more organic matter to the soil, provides balanced food, and requires higher local inputs without markedly compromising output and financial benefits. Broad-policy measures, including the creation of mass awareness of adverse health effects of agrochemical-based products, are outlined for the promotion of ecological agriculture.

Keywords: Bangladesh, compost, conventional agriculture, organic fertilizer, environmental sustainability, economic viability, social acceptability

Procedia PDF Downloads 235

Authors: Yula Milshteyn

Abstract:

The present study focuses on the science of the “Soul” in Islamic Medieval Psychology.The main objective of the current essay is to analyze the concept of the “soul” in relation to “mental” disorders, in the philosophical psychology and medicinal treatise of Ibn Sina, a Muslim Persian physician-philosopher (known as Avicenna in the Western world) (981-1037 CE). The examination will concentrate on the nature of the soul, and the relationship of the soul to the body, as well as the manifestation of health and sickness in soul and body, The analysis draws on Avicenna’s Psychology (Kitab al-Najat or The Book of Salvation), Remarks and Admonitions (Al-isharat wa al-tanbihat), and the medical treatise – The Canon of Medicine (al-Qānūn fī al-Ṭibb). Avicenna’s psychology of the soul is primarily based on Aristotelian and Neo-platonic paradigms. For Avicenna, soul is a metaphysical, independent substance, which in modern terms implies independence of human consciousness from the material body. The soul however, is linked to the body and controls all its’ faculties or functions. It is suggested that in the specific case study of schizophrenia, it is a disorder pertained to both, soul and body and can be characterized as a multi-faceted neurobiological, physiological, psychological and metaphysical spiritual phenomenon.

Keywords: Avicenna, canon of the medicine, mental disorders, psychology, schizophrenia, soul-body

Procedia PDF Downloads 56