Search results for: financial sector

Authors: Halit Tutar, Omer Eren, Oguz Parlakay

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The demand for food and energy of mankind has been increasing every passing day. Renewable energy sources have been pushed to forefront since fossil fuels will be run out in the near future and their negative effects to the environment. As in every sector, the transport sector benefits from biofuel (biogas, bioethanol and biodiesel) one of the renewable energy sources as well. The edible oil crops are used in production of biodiesel. Utilizing edible oil crops as renewable energy source may raise a debate in the view of that there is a shortage in raw material of edible oil crops in Turkey. Researches related to utilization of non-edible oil crops as biodiesel raw materials have been recently increased, and especially studies related to their vegetative production and adaptation have been accelerated in Europe. In this review edible oil crops are compared to non-edible oil crops for biodiesel production in the sense of biodiesel production, some features of non-edible oil crops and their harmful emissions to environment are introduced. The data used in this study, obtained from articles, thesis, reports relevant to edible and non edible oil crops in biodiesel.

Keywords: biodiesel, edible oil crops, environmental impacts, renewable energy

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Authors: Lin Ji

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The 1923 HSBC Building is one of the landmarks of Shanghai's Bund complex and is described as "one of the finest buildings from the Suez Canal to the Bering Strait". Mr George Leopold Wilson of Palmer&Turner and his design team combine the latest British design taste with Chinese elements and bring the high standard of London manufacturing to Shanghai. This paper reviews the establishment background and construction process of the Hongkong and Shanghai Bank Corporation in Shanghai, and analyzes the characteristics of various styles and ornament of HSBC. At the same time, using the research method of iconography, compared with Britain's exploration of modern design mode in the early 20th century, we can deeply understand how this "monument of world commerce and prosperity" realizes the identity construction of its financial empire in the Far East in the perfect combination of practicality and artistry.

Keywords: early 20-century Shanghai, the bund, the HSBC building, classical styles, ornament, identity construction

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Authors: Mohammad A. N. M. Shafiqul Karim

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As a developing country, Bangladesh has to face numerous challenges. Self Independence in electricity, contributing to climate change by reducing carbon emission and bringing the backward population of society to the mainstream is more challenging for them. Therefore, it is essential to ensure recycled use of local products to the maximum level in every sector. Some private organizations have already worked alongside government to bring the backward population to the mainstream by developing their financial capacities. As rice husk is the largest single category of the total energy supply in Bangladesh. As part of this strategy, rice husk can play a great as a promising renewable energy source, which is readily available, has considerable environmental benefits and can produce electricity and ensure multiple uses of byproducts in construction technology. For the first time in Bangladesh, an experimental multidimensional project depending on Rice Husk Electricity and Rice Husk Ash (RHA) concrete brick/block under Green Eco-Tech Limited has already been started. Project analysis, opportunity, sustainability, the high monitoring component, limitations and finally evaluated data reflecting the viability of establishing more projects using rice husk are discussed in this paper. The by-product of rice husk from the production of green electricity, RHA, can be used for making, in particular, RHA concrete brick/block in Bangladeshi aspects is also discussed here.

Keywords: project analysis, rice husk, rice husk ash concrete brick/block, compressive strength of rice husk ash concrete brick/block

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Authors: R. S. Quintal, J. L. Tesch Santos, M. D. Davis, E. C. de Santana, M. de F. Bandeira dos Santos

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The objective is to identify the contributions from the introduction of the computerized system deal within the Accounting Department of Brazilian Navy Financial Directorship and its possible effects on the budgetary and financial harvest of Brazilian Navy. The relevance lies in the fact that the management process is responsible for the continuous improvement of organizational performance through higher levels of quality in their activities. Improvements in organizational processes have direct effects on crops cost, quality, reliability, flexibility and speed. The method of study of this research is the case study. The choice of case study attended, among other demands, a need for greater flexibility to study processes related to a computerized system. The sources of evidence were used literature, documentary and direct observation. Direct observation was made by monitoring the implementation of the computerized system in the Division of Management Analysis. The main findings of the study point to the fact that the computerized system may contribute significantly to the standardization of information. There was improvement of internal processes in the division of management analysis, made possible the consolidation of a standard management and performance analysis that contribute to global homogeneity in the treatment of information essential to the process of decision making. This study has limitations related to the fact the search result be subject exclusively to the case studied, and it is impossible to generalize to other organs of government.

Keywords: process management, management control, business intelligence, Brazilian Navy

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Authors: T. Miková

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This paper analyzes the effect of a single uniform accounting rule on reporting quality by investigating the influence of IFRS on earnings management. This paper examines whether earnings management is reduced after IFRS adoption through the use of “loss avoidance thresholds”, a method that has been verified in earlier studies. This paper concentrates on two European countries: one that represents the continental code law tradition with weak protection of investors (France) and one that represents the Anglo-American common law tradition, which typically implies a strong enforcement system (the United Kingdom). The research investigates a sample of 526 companies (6822 firm-year observations) during the years 2000 – 2013. The results are different for the two jurisdictions. This study demonstrates that a single set of accounting standards contributes to better reporting quality and reduces the pervasiveness of earnings management in France. In contrast, there is no evidence that a reduction in earnings management followed the implementation of IFRS in the United Kingdom. Due to the fact that IFRS benefit France but not the United Kingdom, other political and economic factors, such legal system or capital market strength, must play a significant role in influencing the comparability and transparency cross-border companies’ financial statements. Overall, the result suggests that IFRS moderately contribute to the accounting quality of reported financial statements and bring benefit for stakeholders, though the role played by other economic factors cannot be discounted.

Keywords: accounting standards, earnings management, international financial reporting standards, loss avoidance, reporting quality

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Authors: Adamu Buba

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As West Africa gradually recovers from the cost of more than a decade of civil conflicts in Liberia, Sierra Leone and Côte d’Ivoire, ECOWAS has continued to place prominence on peace consolidation and the prevention of conflict in the West African Sub-Region. Of particular interest is the recent political uprising in Mali and in this regard, ECOWAS has been repositioning their existing machineries to manage this dispensation more effectively by improving their early warning and mediation capabilities. This paper firstly seeks among other things to provide a conceptual understanding of what security sector governance is, and also highlight the overview of ECOWAS and to closely examine the benchmark for assessing progress in the promotion of democracy and political governance within the sub-region as well as conflict prevention techniques. The views and analysis expressed in this paper is based on secondary method of data collection alone and do not in any way represent the views of the institutions or their representatives involved in this assignment in one way or the other.

Keywords: challenges, security, governance, ecowas, response

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Authors: Ivana Tadic, Snjezana Pivac

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Although human resources are recognized as the crucial companies’ resources and their positive influence on companies’ performances has been confirmed through different researches, scientists are still debating it. In order to contribute this debate, this paper firstly discusses the most important human resource management elements and practices and its influence on companies’ success. Afterwards it defines human resource “bundles” – interrelated and internally consistent human resource practices, complementary to each other, or the most important human resource practices and elements regarding Croatian companies and its human resource management activities. Finally, the paper provides empirical results; more precisely it reveals the relation of the level of development of human resource management function (“bundles”) and companies’ financial performances (using profitability ratios, liquidity ratios, solvency ratios and a group of additional ratios related to employees’ indicators).

Keywords: companies’ performances, human resource bundles, multivariate statistical analysis, marketing

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Authors: Jameelah Omolara Yaqub

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One of the main reasons for the existence of central bank is that it is believed that central banks have some influence on private sector decisions which will enable the Central Bank to achieve some of its objectives especially that of stable price and economic growth. By the assumption of the New Keynesian theory that prices are fully flexible in the short run, the central bank can temporarily influence real interest rate and, therefore, have an effect on real output in addition to nominal prices. There is, therefore, the need for the Central Bank to monitor, respond to, and influence private sector decisions appropriately. This thus shows that the Central Bank and the private sector will both affect and be affected by each other implying considerable interdependence between the sectors. The interdependence may be simultaneous or not depending on the level of information, readily available and how sensitive prices are to agents’ expectations about the future. The aim of this paper is, therefore, to determine whether the interdependence between asset prices and monetary policy are simultaneous or not and how important is this relationship. Studies on the effects of monetary policy have largely used VAR models to identify the interdependence but most have found small effects of interaction. Some earlier studies have ignored the possibility of simultaneous interdependence while those that have allowed for simultaneous interdependence used data from developed economies only. This study, therefore, extends the literature by using data from a developing economy where information might not be readily available to influence agents’ expectation. In this study, the direction of relationship among variables of interest will be tested by carrying out the Granger causality test. Thereafter, the interaction between asset prices and monetary policy in Nigeria will be tested. Asset prices will be represented by the NSE index as well as real estate prices while monetary policy will be represented by money supply and the MPR respectively. The VAR model will be used to analyse the relationship between the variables in order to take account of potential simultaneity of interdependence. The study will cover the period between 1980 and 2014 due to data availability. It is believed that the outcome of the research will guide monetary policymakers especially the CBN to effectively influence the private sector decisions and thereby achieve its objectives of price stability and economic growth.

Keywords: asset prices, granger causality, monetary policy rate, Nigeria

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Authors: Gerhard D. Muller, Nadine C. Sonnenberg, Suné Donoghue

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This study delves into the intricacies of male and female consumers’ perceptions of Corporate Social Responsibility (CSR) in the South African clothing retail sector, a sector experiencing increasing consumption, yet facing significant environmental and social challenges. The aim is to discern between male and female consumers’ perceptions of clothing retailers’ CSR initiatives based on the Triple Bottom Line (TBL) framework, which evaluates organizational sustainability across social, environmental, and economic domains. Methodologically, the study is embedded in a quantitative research paradigm adopting a cross-sectional survey design. A purposive sampling strategy was used to recruit male and female respondents from a diverse South African demographic background. A structured questionnaire was developed and included established consumer CSR perception scales that were adapted for the purposes of this study. The questionnaire was distributed via online platforms. The data collected from the online survey, were split by gender to allow for comparison between male and female consumers’ perceptions of clothing retailers’ CSR initiatives. Exploratory Factor Analysis (EFA) was conducted on each of the datasets. The EFA for females revealed a five-factor solution, whereas the male EFA presented a six-factor solution, with the notable addition of an Economic Performance dimension. Results indicate subtle differences in the gender groups’ CSR perceptions. While both genders seem to value clothing retailers’ focus on quality services, females seem to have more pronounced perceptions surrounding clothing retailers’ contributions to social and environmental causes. Males, on the other hand, seem to be more discerning in their perceptions surrounding clothing retailers’ support of social and environmental causes. Ethical stakeholder relationships emerged as a shared concern across genders. Still, males presented a distinct factor, Economic Performance, highlighting a gendered divergence in the weighting of economic success and financial performance in CSR evaluation. The implications of these results are multifaceted. Theoretically, the study enriches the discourse on CSR by integrating gender insights into the TBL framework, offering a greater understanding of consumers’ CSR perceptions in the South African clothing retail context. Practically, it provides actionable insights for clothing retailers, suggesting that CSR initiatives should be gender-sensitive and communicate the TBL's elements effectively to resonate with the pertinent concerns of each segment. Additionally, the findings advocate for a contextualized approach to CSR in emerging markets that aligns with local cultural and social differences.

Keywords: consumer perceptions, corporate Social responsibility, gender differentiation, triple bottom line

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Authors: Usman A. Usman

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Undeniably, unlike the Classical side, the Keynesian perspective of the aggregate demand side indeed has a significant position in the policy, growth, and welfare of Nigeria due to government involvement and ineffective demand of the population living with poor per capita income. This study seeks to investigate the effect of Government Final Consumption Expenditure, Financial Deepening on Households, and NPISHs Final consumption expenditure using data on Nigeria from 1981 to 2019. This study employed the ADF stationarity test, Johansen Cointegration test, and Vector Error Correction Model. The results of the study revealed that the coefficient of Government final consumption expenditure has a positive effect on household consumption expenditure in the long run. There is a long-run and short-run relationship between gross fixed capital formation and household consumption expenditure. The coefficients cpsgdp (financial deepening and gross fixed capital formation posit a negative impact on household final consumption expenditure. The coefficients money supply lm2gdp, which is another proxy for financial deepening, and the coefficient FDI have a positive effect on household final consumption expenditure in the long run. Therefore, this study recommends that Gross fixed capital formation stimulates household consumption expenditure; a legal framework to support investment is a panacea to increasing hoodmold income and consumption and reducing poverty in Nigeria. Therefore, this should be a key central component of policy.

Keywords: government final consumption expenditure, household consumption expenditure, vector error correction model, cointegration

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Authors: Ivana Lolic, Petar Soric, Mirjana Cizmesija

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Based on Business and Consumer Survey (BCS) data, the European Commission (EC) regularly publishes the monthly Economic Sentiment Indicator (ESI) for each EU member state. ESI is conceptualized as a leading indicator, aimed ad tracking the overall economic activity. In calculating ESI, the EC employs arbitrarily chosen weights on 15 BCS response balances. This paper raises the predictive quality of ESI by applying nonlinear programming to find such weights that maximize the correlation coefficient of ESI and year-on-year GDP growth. The obtained results show that the highest weights are assigned to the response balances of industrial sector questions, followed by questions from the retail trade sector. This comes as no surprise since the existing literature shows that the industrial production is a plausible proxy for the overall Croatian economic activity and since Croatian GDP is largely influenced by the aggregate personal consumption.

Keywords: business and consumer survey, economic sentiment indicator, leading indicator, nonlinear optimization with constraints

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Authors: Jose Gonzalez, Fai Cheng, Ivy Fan

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Shipping has a mature and ever expanding worldwide market. The future of the marine industry itself is not only irrevocably linked with the global economic, social, and political landscape; it is also subject to the technological developments in different fields. Some of them may have never been linked to the marine industry before. Companies in the marine sector are getting more dependent on technologies to achieve competitive advantage in an increasing open market. Technologies can be fused across different business functions and geopolitical influences. A successful marine business should be prepared to embrace such potential changes that lie ahead. The present paper intends to articulate long-term marine technology strategies from an industrial perspective. Methodology and current development are introduced. The paper will also provide insight into future technological trends demand for major commercial ship types. It may also assist different stakeholders in tailoring their long-term strategies to achieve a Sea Change and to uncap opportunity.

Keywords: commercial sector, marine, trends, technology

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Authors: Cristian Păuna

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In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonomous trading software is today a considerable part in the business intelligence system of any modern financial activity. The trading decisions and orders are made automatically by computers using different mathematical models. This paper will present one of these models called Price Prediction Line. A mathematical algorithm will be revealed to build a reliable trend line, which is the base for limit conditions and automated investment signals, the core for a computerized investment system. The paper will guide how to apply these tools to generate entry and exit investment signals, limit conditions to build a mathematical filter for the investment opportunities, and the methodology to integrate all of these in automated investment software. The paper will also present trading results obtained for the leading German financial market index with the presented methods to analyze and to compare different automated investment algorithms. It was found that a specific mathematical algorithm can be optimized and integrated into an automated trading system with good and sustained results for the leading German Market. Investment results will be compared in order to qualify the presented model. In conclusion, a 1:6.12 risk was obtained to reward ratio applying the trigonometric method to the DAX Deutscher Aktienindex on 24 months investment. These results are superior to those obtained with other similar models as this paper reveal. The general idea sustained by this paper is that the Price Prediction Line model presented is a reliable capital investment methodology that can be successfully applied to build an automated investment system with excellent results.

Keywords: algorithmic trading, automated trading systems, high-frequency trading, DAX Deutscher Aktienindex

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Authors: A. Vinay, Mary Josephine, Shreesha. S. Rao, Dhande Kranthi Kumar, J. Nandini

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This paper looks at the development of Fisheries education in Karnataka and the supply of skilled human capital to the sector. The study tries to analyse their job occupancy patterns, Compound Growth Rate (CGR) and forecasts the fisheries graduates supply using the Holt method. In Karnataka, fisheries are one of the neglected allied sectors of agriculture in spite of having enormous scope and potential to contribute to the State's agriculture GDP. The State Government has been negligent in absorbing skilled human capital for the development of fisheries, as there are so many vacant positions in both education institutes, as well as the State fisheries department. CGR and forecasting of fisheries graduates shows a positive growth rate and increasing trend, from which we can understand that by proper utilization of skilled human capital can bring development in the fisheries sector of Karnataka.

Keywords: compound growth rate, fisheries education, holt method, skilled human capital

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Authors: Ichiro Mukai

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The purpose of this study is to investigate whether firms applying International Financial Reporting Standards (IFRS), provide high-quality and comparable earnings information that is useful for decision making of information users relative to firms applying local Generally Accepted Accounting Principles (GAAP). Focus is placed on the earnings quality of listed firms in several developed countries: Australia, Canada, France, Germany, Japan, the United Kingdom (UK), and the United States (US). Except for Japan and the US, the adoption of IFRS is mandatory for listed firms in these countries. In Japan, the application of IFRS is allowed for specific listed firms. In the US, the foreign firms listed on the US securities market are permitted to apply IFRS but the listed domestic firms are prohibited from doing so. In this paper, the differences in earnings quality are compared between firms applying local GAAP and those applying IFRS in each country and industry category, and the reasons of differences in earnings quality are analyzed using various factors. The results show that, although the earnings quality of firms applying IFRS is higher than that of firms applying local GAAP, this varies with country and industry category. Thus, even if a single set of global accounting standards is used for all listed firms worldwide, it is difficult to establish comparability of financial information among global firms. These findings imply that various circumstances surrounding firms, industries, and countries etc. influence business operations and affect the differences in earnings quality.

Keywords: accruals, earnings quality, IFRS, information comparability

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Authors: Julius Y Asamoah

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Mobile money has seen faster adoption in the decade. Its emergence serves as an essential driver of financial inclusion and an innovative financial service delivery channel, especially to the unbanked population. The rising importance of mobile money services has caught policymakers and regulators' attention, seeking to understand the many issues emerging from this context. At the same time, it is unlocking the potential of knowledge of this new technology. Regulatory responses and support are essential, requiring significant changes to current regulatory practices in Ghana. The article aims to answer the following research questions: "What risk does an unregulated mobile money service pose to consumers and the financial system? "What factors stimulate and hinder the introduction of mobile payments in developing countries? The sample size used was 250 respondents selected from the study area. The study has adopted an analytical approach comprising a combination of qualitative and quantitative data collection methods. Actor-network theory (ANT) is used as an interpretive lens to analyse this process. ANT helps analyse how actors form alliances and enrol other actors, including non-human actors (i.e. technology), to secure their interests. The study revealed that government regulatory policies impact mobile money as critical to mobile money services in developing countries. Regulatory environment should balance the needs of advancing access to finance with the financial system's stability and draw extensively from Kenya's work as the best strategies for the system's players. Thus, regulators need to address issues related to the enhancement of supportive regulatory frameworks. It recommended that the government involve various stakeholders, such as mobile phone operators. Moreover, the national regulatory authority creates a regulatory environment that promotes fair practices and competition to raise revenues to support a business-enabling environment's key pillars as infrastructure.

Keywords: actor-network theory (ANT), cashless future, Developing countries, Ghana, Mobile Money

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Authors: Nawal Yacoub Halim Abdelmasih

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The link between terrorism and human rights has grown to be a chief challenge in the combat against terrorism around the sector. This is primarily based on the truth that terrorism and human rights are so closely related that after the former starts, the latter is violated. This direct connection is identified in the Vienna Declaration and program of movement adopted by way of the sector Convention on Human Rights in Vienna on June 25, 1993, which acknowledges that acts of terrorism in all their paperwork and manifestations intended to damage the human rights of people. Terrorism, therefore, represents an assault on our maximum fundamental human rights. To this stop, the first part of this article makes a specialty of the connections between terrorism and human rights and seeks to spotlight the interdependence between those two standards. The second part discusses the rising idea of cyberterrorism and its manifestations. An evaluation of the fight against cyberterrorism inside the context of human rights is likewise performed.

Keywords: sustainable development, human rights, the right to development, the human rights-based approach to development, environmental rights, economic development, social sustainability human rights protection, human rights violations, workers’ rights, justice, security.

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Authors: Dejen Alemu, Murray E. Jennex, Temtim Assefa

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Agriculture is the mainstay of the Ethiopian economy; however, the sector is dominated by smallholder farmers resulting in land fragmentation and suffering from low productivity. Due to these issues, much effort has been put into the transformation of the sector to bring about more sustainable rural economic development. Technological advancements have been applied for the betterment of farmers resulting in the design of tools that are potentially capable of supporting the agricultural sector; however, their use and relevance are still alien to the local rural communities. The notion of the creating, capturing and sharing of knowledge has also been repetitively raised by many international donor agencies to transform the sector, yet the most current approaches to knowledge dissemination focus on knowledge that originates from the western view of scientific rationality while overlooking the role of indigenous knowledge (IK). Therefore, in agricultural knowledge management system (KMS) development, the integration of IKS with scientific knowledge is a critical success factor. The present study aims to contribute in the discourse on how to best integrate scientific and IK in agricultural KMS development. The conceptual framework of the research is anchored in concepts drawn from the theory of situated learning in communities of practice (CoPs): knowledge brokering. Using the KMS development practices of Ethiopian agricultural transformation agency as a case area, this research employed an interpretive analysis using primary and secondary qualitative data acquired through in-depth semi-structured interviews and participatory observations. As a result, concepts are identified for understanding the integration of the two major knowledge systems (i.e., indigenous and scientific knowledge) and participation of relevant stakeholders in particular the local farmers in agricultural KMS development through the roles of extension agent as a knowledge broker including crossing boundaries, in-between position, translation and interpretation, negotiation, and networking. The research shall have a theoretical contribution in addressing the incorporation of a variety of knowledge systems in agriculture and practically to provide insight for policy makers in agriculture regarding the importance of IK integration in agricultural KMS development and support marginalized small-scale farmers.

Keywords: communities of practice, indigenous knowledge, knowledge management system development, knowledge brokering

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Authors: B. Bernabela, P. Bles, A. Bloecker, D. DeRock, M. van Es, M. Gerritse, T. de Jongh, W. Lansing, M. Martinot, J. van de Wetering

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A heated debate has been taking place concerning research and teaching at Dutch universities for the last few years. The ministry of science and education has published reports on its strategy to improve university curricula and position the Netherlands as a globally competitive knowledge economy. These reports have provoked an uproar of responses from think tanks, concerned academics, and the media. At the center of the debate is disagreement over who should determine the Dutch university curricula and how these curricula should look. Many stakeholders in the higher education system have voiced their opinion, and some have not been heard. The result is that the diversity of visions is ignored or taken for granted in the official reports. Recognizing this gap in stakeholder analysis, the aim of this paper is to bring attention to the wide range of perspectives on who should be responsible for designing higher education curricula. Based on a previous analysis by the Rathenau Institute, we distinguish five different groups of stakeholders: government, business sector, university faculty and administration, students, and the societal sector. We conducted semi-structured, in-depth interviews with representatives from each stakeholder group, and distributed quantitative questionnaires to people in the societal sector (i.e. people not directly affiliated with universities or graduates). Preliminary data suggests that the stakeholders have different target points concerning the university curricula. Representatives from the governmental sector tend to place special emphasis on the link between research and education, while representatives from the business sector rather focus on greater opportunities for students to obtain practical experience in the job market. Responses from students reflect a belief that they should be able to influence the curriculum in order to compete with other students on the international job market. On the other hand, university faculty expresses concern that focusing on the labor market puts undue pressure on students and compromises the quality of education. Interestingly, the opinions of members of ‘society’ seem to be relatively unchanged by political and economic shifts. Following a comprehensive analysis of the data, we believe that our results will make a significant contribution to the debate on university education in the Netherlands. These results should be regarded as a foundation for further research concerning the direction of Dutch higher education, for only if we take into account the different opinions and views of the various stakeholders can we decide which steps to take. Moreover, the Dutch experience offers lessons to other countries as well. As the internationalization of higher education is occurring faster than ever before, universities throughout Europe and globally are experiencing many of the same pressures.

Keywords: Dutch University curriculum, higher education, participants’ opinions, stakeholder perspectives

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Authors: M. Nurus Safa, Jiang Jinzhang, Akter Tahera

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This study explores the female are overcoming the odds and doing well as journalist during the last decade in Bangladesh. Female journalists are contributing to the society for economic prosperity and changing the attitude towards the development concept and process. But the path is not smooth for involving women in journalism. The findings are female journalist facing many barriers like family pressure, Society problem, pay-allowances, gender discrimination, sexual harassment and even lack of workplace. According to their skill and merit, they face problems in getting maternity leave and assignments. But their role in this sector cannot be neglected. It is possible to survive if have the passion, professionalism, and love on this profession. Day by day, the female participation in journalism sector is increasing in Bangladesh. Despite the barriers， female journalists are showing strong interest in journalism as a career. As much gender balance in Mass media as the women's freedom and scope will increase. As a result, the spread of female’s workplace in the media will spread. Good number of female journalists is working in different policy making positions of the organization. In future, experienced female journalists will be more because now day's they taking challenges and working religiously according to the company and public need. In recent time Bangladesh is encouraging her women to work outside of home. Currently, a significant change has come into the social attitude which represents by women’s advancement in journalism sector of Bangladesh. This study uses the survey method and 6 depth interview to find out a fruitful result. As a sampling, the study uses purposive sampling technique to collect the data from the 120 female respondents of television, online and print media journalists.

Keywords: attitude, Bangladesh, challenges, female journalists, prospects

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Authors: Supriadi Hardianto, Aditya Daniswara

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Today's workplace, flooded by millennial Generation or known also as Generation Y. A common problem that faced by the company towards Gen Y is a high turnover rate, attitudes problem, communication style, and different work style than the older generation. This is common in private sector. The objective of this study is to get a better understanding of the Gen Y Career Attitude at the workplace. The subject of this study is focusing on 430 respondent of Gen Y which age between 20 – 35 years old who works for a private company. The Questionnaire as primary data source captured 9 aspects of career attitude based on Career Attitudes Strategy Inventory (CASI). This Survey distributes randomly among Gen Y in the IT Industry (125 Respondent) and Manufacture Company (305 Respondent). A Random deep interview was conducted to get the better understanding of the etiology of their primary obstacles. The study showed that most of Indonesia Gen Y have a moderate score on Job satisfaction but in the other aspects, Gen Y has the lowest score on Skill Development, Career Worries, Risk-Taking Style, Dominant Style, Work Involvement, Geographical Barrier, Interpersonal Abuse, and Family Commitment. The top 5 obstacles outside that 9 aspects that faced by Gen Y are 1. Lower communication & networking support; 2. Self-confidence issues; 3. Financial Problem; 4. Emotional issues; 5. Age. We also found that parent perspective toward the way they are nurturing their child are not aligned with their child’s real life. This research fundamentally helps the organization and other Gen Y’s Stakeholders to have a better understanding of Gen Y Career Attitude at the workplace.

Keywords: career attitudes, CASI, Gen Y, career attitude at workplace

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Authors: Walid Chkili

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This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Dalal Benboutrif

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Religion and Development relation is one of the most arguable phrases amongst politicians, philosophers, clerics, scientists, sociologists and even the public. The main objective of this research is to clarify the relations, contrasts and interactions between religion and the major types of development including social, political, economic and scientific developments, by focusing on Islam religion. A review of the literature was performed concerning religion and development relations and conflicts, by focusing on Islam religion and then the unprocessed tips of the review were characterized. Regarding clarification of the key points of the literature, three main sectors were considered in the research. The first sector of the research mainly focused on the philosophical views on religion, which were analyzed by main evaluation of three famous philosophers’ ideas: ‘Kant’, ‘Hegel’ and ‘Weber’, and then a critical discussion on Weber’s idea about Islam and development was applied. The second sector was specified to ‘Religion and Development’ and mainly discussed the role of religion in development through poverty reduction, the interconnection of religion, spirituality and social development, religious education effects on social development, and the relation of religion with political development. The third sector was specified to ‘Islam and Development’ and mainly discussed the Islamic golden age of science, major reasons of today’s backwardness (non-development) of most Islamic countries, and Quranic instructions regarding adaptability of Islam with development. The findings of the current research approved the research hypothesis as: ‘Religious instructions (included Islam) are not in conflict with development’, rather, it could have positive effects mainly on social development and it can pave the way for society to develop. Turkey was considered as a study model, as a successful developed Islamic country demonstrating the non-conflicting relation of Islam and development.

Keywords: development, Islam, philosophy, religion

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Authors: Marco Sewald

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Due to the current enforcement of exterritorial U.S. legislation, up to 9 million U.S. (dual) citizens residing abroad are subject to U.S. double and surcharge taxation and at risk of losing access to otherwise basic financial services and investment opportunities abroad. The United States is the only OECD country that taxes non-resident citizens, lawful permanent residents and other non-resident aliens on their worldwide income, based on local U.S. tax laws. To enforce these policies the U.S. has implemented ‘saving clauses’ in all tax treaties and implemented several compliance provisions, including the Foreign Account Tax Compliance Act (FATCA), Qualified Intermediaries Agreements (QI) and Intergovernmental Agreements (IGA) addressing Foreign Financial Institutions (FFIs) to implement these provisions in foreign jurisdictions. This policy creates systematic cases of double and surcharge taxation. The increased enforcement of compliance rules is creating additional report burdens for U.S. persons abroad and FFIs accepting such U.S. persons as customers. FFIs in Europe react with a growing denial of specific financial services to this population. The numbers of U.S. citizens renouncing has dramatically increased in the last years. A case study is chosen as an appropriate methodology and research method, as being an empirical inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used. This evaluative approach is testing whether the combination of policies works in practice, or whether they are in accordance with desirable moral, political, economical aims, or may serve other causes. The research critically evaluates the financial and non-financial consequences and develops sufficient strategies. It further discusses these strategies to avoid the undesired consequences of exterritorial U.S. legislation. Three possible strategies are resulting from the use cases: (1) Duck and cover, (2) Pay U.S. double/surcharge taxes, tax preparing fees and accept imposed product limitations and (3) Renounce U.S. citizenship and pay possible exit taxes, tax preparing fees and the requested $2,350 fee to renounce. While the first strategy is unlawful and therefore unsuitable, the second strategy is only suitable if the U.S. citizen residing abroad is planning to move to the U.S. in the future. The last strategy is the only reasonable and lawful way provided by the U.S. to limit the exposure to U.S. double and surcharge taxation and the limitations on financial products. The results are believed to add a perspective to the current academic discourse regarding U.S. citizenship based taxation, currently dominated by U.S. scholars, while providing sufficient strategies for the affected population at the same time.

Keywords: citizenship based taxation, FATCA, FBAR, qualified intermediaries agreements, renounce U.S. citizenship

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Authors: Udeh Nneka Evelyn

Abstract:

The shortcomings of traditional costing system, in terms of validity, accuracy, consistency and relevance increased the need for modern management accounting system. ABC (Activity-Based Costing) can be used as a modern tool for planning, control and decision making for management. Past studies on activity-based costing (ABC) system have focused on manufacturing firms thereby making the studies on service firms scanty to some extent. This paper reviewed the application and relevance of activity-based costing techniques in service oriented business organisations by employing a qualitative research method which relied heavily on literature review of past and current relevant articles focusing on activity-based costing (ABC). Findings suggest that ABC is not only appropriate for use in a manufacturing environment; it is also most appropriate for service organizations such as financial institutions, the healthcare industry, and government organizations. In fact, some banking and financial institutions have been applying the concept for years under other names. One of them is unit costing, which is used to calculate the cost of banking services by determining the cost and consumption of each unit of output of functions required to deliver the service. ABC in very basic terms may provide very good payback for businesses. Some of the benefits that relate directly to the financial services industry are: Identification of the most profitable customers; more accurate product and service pricing; increase product profitability; well-organized process costs.

Keywords: profitability, activity-based costing (ABC), management accounting, manufacture

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Authors: Roberto M. G. Velásquez, Jonas R. Gazoli, Nelson Ponce Jr, Valério L. Borges, Alessandro Sete, Fernanda M. C. Tomé, Julian D. Hunt, Heitor C. Lira, Cristiano L. de Souza, Fabio T. Bindemann, Wilmar Wounnsoscky

Abstract:

Nowadays, society is working toward reducing energy losses and greenhouse gas emissions, as well as seeking clean energy sources, as a result of the constant increase in energy demand and emissions. Energy loss occurs in the gas pressure reduction stations at the delivery points in natural gas distribution systems (city gates). Installing pressure reduction turbines (PRT) parallel to the static reduction valves at the city gates enhances the energy efficiency of the system by recovering the enthalpy of the pressurized natural gas, obtaining in the pressure-lowering process shaft work and generating electrical power. Currently, the Brazilian natural gas transportation network has 9,409 km in extension, while the system has 16 national and 3 international natural gas processing plants, including more than 143 delivery points to final consumers. Thus, the potential of installing PRT in Brazil is 66 MW of power, which could yearly avoid the emission of 235,800 tons of CO2 and generate 333 GWh/year of electricity. On the other hand, an economic viability analysis of these energy efficiency projects is commonly carried out based on estimates of the project's cash flow obtained from several variables forecast. Usually, the cash flow analysis is performed using representative values of these variables, obtaining a deterministic set of financial indicators associated with the project. However, in most cases, these variables cannot be predicted with sufficient accuracy, resulting in the need to consider, to a greater or lesser degree, the risk associated with the calculated financial return. This paper presents an approach applied to the technical-economic viability analysis of PRTs projects that explicitly considers the uncertainties associated with the input parameters for the financial model, such as gas pressure at the delivery point, amount of energy generated by TRP, the future price of energy, among others, using sensitivity analysis techniques, scenario analysis, and Monte Carlo methods. In the latter case, estimates of several financial risk indicators, as well as their empirical probability distributions, can be obtained. This is a methodology for the financial risk analysis of PRT projects. The results of this paper allow a more accurate assessment of the potential PRT project's financial feasibility in Brazil. This methodology will be tested at the Cuiabá thermoelectric plant, located in the state of Mato Grosso, Brazil, and can be applied to study the potential in other countries.

Keywords: pressure reduction turbine, natural gas pressure drop station, energy efficiency, electricity generation, monte carlo methods

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Authors: Abdul Kader

Abstract:

This paper attempts to investigate several contributory factors to recent volatility in the Islamic Banking sector of Bangladesh. In particular, the study explores corporate governance, credit management, credit regulations, inept board of directors, using religious sentiment as a means to deceive general people, and the degree of political interference as potential contributory factors. To find the correlation among different variables, semi-structured questionnaires were distributed among the clients, bank managers, some Banking scholars and ex-members of the board of directors of three Islamic Banks in Bangladesh. Later, ten interviews were collected from key informants to gain in-depth information about the present mismanagement of Islamic Banks in Bangladesh. After then, data were analyzed using statistical software and substantiated by secondary sources like newspapers, reports and investigative reports aired in screen media. The paper found a correlation between almost all contributory factors and recent unstable conditions in the Islamic banking sector. After performing regression analysis, this paper found a more significant relationship between some of the contributory factors with Banking volatility than others. For instance, credit management, inept board of directors, depriving customers of proving no profit in the name of business—no interest-- and political interference have a strong significant positive correlation with the present poor condition of Islamic Banking. This paper concludes that while internal management is important in recovering the losses, the government needs to ensure framing better policy for the Islamic Banking system, Central Bank needs to supervise and monitor all Islamic banks meticulously and loan receivers must go through the impartial evaluation and approved by the representatives of the Central Shariah Board. This paper also recommends that there is a need to strengthen the auditing system and improve regulatory oversight of the Islamic Banks in Bangladesh. Policy recommendations that this paper put forward could provide an outline for dealing with the existing challenging condition of Islamic Banks and these could be applied to similar problems in other countries where the Islamic Banking model exists.

Keywords: Islamic bank, volatility in banking sector, shariah law, credit management, political interference

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Authors: Anyi Katherine Garzon Robles, Luis Carlos Gomez Florez

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Since the advent of the Internet, the use of Information Technologies (IT) has increased exponentially. The field of informatics and telecommunications has put on the table countless possibilities for the development of different socio-economic activities, promoting a change of social paradigm and the emergence of the so-called information and knowledge society. For more than a decade, the Colombian government has been working on the incorporation of IT into the public sector through an e-government strategy. However, to date, many technological gaps has not yet been identified in the country to our knowledge, especially in rural areas and far from large cities, where factors such as low investment and the expansion of the armed conflict have led to economic and technological stagnation. This paper presents the research results obtained from the execution of a research project, which was approach from a qualitative approach and a methodological design of a participatory action research type. This design consists of nine fundamental stages divided into four work cycles. For which different strategies for data collection and analysis were established. From which, a methodology was obtained for the identification of technological gaps and the measurement of the level of technological acceptance in the rural sector, based on the TAM (Technology Acceptance Model) model, as a previous activity to the development of IT solutions framed in the e-government strategy in Colombia. The result of this research work represents a contribution from academia for the improvement of the country's technological development and a guide for the proper planning of IT solutions aimed at promoting a close relationship between government and citizens.

Keywords: E-government, knowledge society, level of technological acceptance, technological gaps, technology acceptance model

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Authors: Rosida A. Razak, Mohamad Shanudin Zakaria

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The fundamental issues in ICT Governance (ICTG) implementation for Malaysian Public Sector (MPS) is how ICT be applied to support improvements in productivity, management effectiveness and the quality of services offered to its citizens. Our main concern is to develop and adopt a common definition and framework to illustrate how ICTG can be used to better align ICT with government’s operations and strategic focus. In particular, we want to identify and categorize factors that drive a successful ICTG process. This paper presents the results of an exploratory study to identify, validate and refine such Critical Success Factors (CSFs) and confirmed seven CSFs and nineteen sub-factors as influential factors that fit MPS after further validated and refined. The Delphi method applied in validation and refining process before being endorsed as appropriate for MPS. The identified CSFs reflect the focus areas that need to be considered strategically to strengthen ICT Governance implementation and ensure business success.

Keywords: IT governance, critical success factors, productivity, CSFs

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Authors: Anwar Hussain, Muhammad Iqbal

Abstract:

The changes in the prices of the agriculture commodities combined with changes in population and agriculture productivity affect farmers’ profitability and standard of living. This study intends to estimate various domestic terms of trade for agriculture sector and also to assess the volatility in the standard of living and profitability of farmers. The terms of trade has been estimated for Pakistan and its provinces using producer prices indices, consumer price indices, input prices indices and quantity indices using the data for the period 1990-91 to 2008-09. The domestic terms of trade of agriculture sector has been improved in terms of both approaches i.e. the ratio of producer prices indices to consumer prices indices and the real per capita income approach. However, the cross province estimates indicated that the terms of trade also improved for Khyber Pakhtunkhwa, Sindh and Punjab while Balochistan’s domestic terms of trade deteriorated drastically. In other words the standard of living of the farmers in Pakistan and its provinces except Balochistan improved. Using the input prices, the domestic terms of trade deteriorated for Pakistan as a whole and its provinces as well. This also explores that as a whole the profitability of the farmers reduced during the study period. The farmers pay more prices for inputs as compared to they receive for their produce. This further indicates that the poverty at the gross root level has been increased. Further, summing, the standard of living of the farmers improved but their profitability reduced, which indicates that the farmers do not completely rely on the farm income but also utilize some other sources of income for their livelihood. The study supports to give subsidies on farm inputs so as to improve the profitability of the farmers.

Keywords: agricultural terms of trade, farmers’ profitability, farmers’ standard of living, consumer and producer price indices, quantity indices

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