Search results for: and medium enterprises financial institutions

Authors: Carlo Gozzelino

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Since the early 2000s, the phenomenon of the two-sided markets has been of growing interest in academic literature as such kind of markets differs by having cross-side network effects and same-side network effects characterizing the transactions, which make the analysis different when compared to traditional seller-buyer concept. Due to such externalities, pricing strategies can be based on subsidizing the participation of one side (i.e. considered key for the platform to attract the other side) while recovering the loss on the other side. In recent years, several players of the Italian financial intermediation industry moved from an integrated landscape (i.e. selling their own products) to an open one (i.e. intermediating third party products). According to academic literature such behavior can be interpreted as a merchant move towards a platform, operating in a two-sided market environment. While several application of two-sided market framework are available in academic literature, purpose of this paper is to use a two-sided market concept to suggest a new framework applied to financial intermediation. To this extent, a model is developed to show how competitors behave when vertically integrated and how the peculiarities of a two-sided market act as an incentive to disintegrate. Additionally, we show that when all players act as a platform, the dynamics of a two-sided markets can allow at least a Nash equilibrium to exist, in which platform of different sizes enjoy positive profit. Finally, empirical evidences from Italian market are given to sustain – and to challenge – this interpretation.

Keywords: financial intermediation, network externalities, two-sided markets, vertical differentiation

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Authors: S. Alyami, S. Mohammad

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These Risk management practices have a significant impact on construction SMEs. The effective utilisation of these practices depends on culture change in order to optimise decision making for critical activities within construction projects. Thus, successful implementation of empowerment strategies would enhance operational employees to participate in effective decision making. However, there remain many barriers to individuals and organisations within empowerment strategies that require empirical investigation before the industry can benefit from their implementation. Gaps in understanding the relationship between employee empowerment and risk management practices still exist. This research paper aims to examine the impact of the structural empowerment on risk management practices in construction SMEs. The questionnaire has been distributed to participants (162 employees) that involve projects and civil engineers within a case study from Saudi construction SMEs. Partial least squares based structural equation modeling (PLS-SEM) was utilised to perform analysis. The results reveal a positive relationship between empowerment and risk management practices. The study shows how structural empowerment contributes to operational employees in risk management practices through involving activities such as decision making, self-efficiency, and autonomy. The findings of this study will contribute to close the current gaps in the construction SMEs context.

Keywords: construction SMEs, culture, decision making, empowerment, risk management

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Authors: Maryam Idris Bakori

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The level of poverty in our region (West Africa) is a severe problem. The statistics about it are scary and alarming. For example, Report on Economic and Social Conditions in West Africa by United Nations Economic Commission for Africa gives the following gloomy picture of social conditions in the region: In West Africa, approximately one person in three in the towns, and one in two in the rural areas, cannot afford the expenditure needed to cover their basic needs. The situation has reached emergency proportions and calls for urgent social action (Recent Economic and Social Developments in West Africa and Prospects for 2010). Many different policies and programs to combat the poverty in the region have been embarked upon by the government of various countries in West Africa, but yet the ugly face of poverty persists. However, to explore opportunities and avenues for making positive contributions to national and regional development, this paper sets out to examine the role of two Islamic institutions; Zakah and Waqf, in poverty alleviation and how Islam uses these two institutions among others to eradicate poverty. The paper suggests that the governments of various countries of West Africa should endeavor to integrate Zakah and Waqf into their poverty alleviation programs by borrowing a leaf from some countries in Africa and Asia that have integrated these Islamic institutions into their poverty reduction programs, and they have started to reap the positive result from the policy.

Keywords: waqf, poverty, zakah, Islamic economy, education

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Authors: Muhammad Rifqi Hafizhudin Arif, Mukhamad Zulfal Faradis, Ahmad Hidayatullah

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Indonesia is the country that uses conventional financial system adopted from European countries as a form of finance in the national banking system. Many of the derivative products of conventional banks either investment, buy and sell, saving and loan, which is not in accordance with Islamic Ethics. While the majority population in Indonesia are belief in Islam, which Islam has had financial management guide is written in the Quran, the Hadith, as well as the opinions of experts who strongly prohibits the use of interest in each transaction activities. Many different expert opinions on the application of the Islamic financial system in Indonesia. However, as the majority of the population of Indonesia, Islamic community have not been able to get the opportunities to choose the Islamic financial system that has mutual benefit between consumers and banks, particularly fairness in transactions, ethical investment, uphold the values of solidarity and brotherhood in every transaction activities, and avoid speculation. In this paper, we will discuss the reasons for the importance of providing an option for Islamic community as the majority of the population of Indonesia to use the banking system which adopted the Islamic ethical values that have been much discussed by other researchers in various countries. The existence of this research is expected to Government, academia and the general public aware of the urgency of Islamic economic system implementation in Indonesian banking as the solution and justice especially for the Islamic community to use the values which they held.

Keywords: Islamic economic system, conventional system, Islamic value, banking

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Authors: Sainbilegt Dashdorj, Delgerekhtsetseg Tsedev, Odontuya Mishigdorj, Bat-Uchral Ganzorigt

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To develop a content-based recommendation of foreign language teaching for foreign language majoring and non-majoring classes at domestic universities by comparing the current situation, the environmental conditions, the curriculum, the plan, the content and so on of Mongolian foreign language teaching with the ones at the universities in the education development leading countries was set as the main goal and thus, it is considered to become an important step not only for solving an urgent foreign language teaching issue at Mongolian higher educational institutions but also for enhancing the foreign language knowledge of the national human resource in the globalizing world.

Keywords: CEFR, content standart, language curriculum, multilingualism

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

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

Keywords: composite material, environment, textile, ceiling board

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Authors: Yu Fang Chen, Jeng Fung Hung

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This study aimed to develop a circular economy scale to assess the level of recognition among high-level executives in businesses regarding the circular economy. The circular economy is crucial for global ESG sustainable development and poses a challenge for corporate social responsibility. The aim of promoting the circular economy is to reduce resource consumption, move towards sustainable development, reduce environmental impact, maintain ecological balance, increase economic value, and promote employment. This study developed a 23-item Circular Economy Scale, which includes three subscales: "Understanding of Circular Economy by Enterprises" (8 items), "Attitudes" (9 items), and "Behaviors" (6 items). The Likert 5-point scale was used to measure responses, with higher scores indicating higher levels of agreement among senior executives with regard to the circular economy. The study tested 105 senior executives and used a structural equation model (SEM) as a measurement indicator to determine the extent to which potential variables were measured. The standard factor loading of the measurement indicator needs to be higher than 0.7, and the average variance explained (AVE) represents the index of convergent validity, which should be greater than 0.5 or at least 0.45 to be acceptable. Out of the 23 items, 12 did not meet the standard, so they were removed, leaving 5 items, 3 items, and 3 items for each of the three subscales, respectively, all with a factor loading greater than 0.7. The AVE for all three subscales was greater than 0.45, indicating good construct validity. The Cronbach's α reliability values for the three subscales were 0.887, 0.787, and 0.734, respectively, and the total scale was 0.860, all of which were higher than 0.7, indicating good reliability. The Circular Economy Scale developed in this study measures three conceptual components that align with the theoretical framework of the literature review and demonstrate good reliability and validity. It can serve as a measurement tool for evaluating the degree of acceptance of the circular economy among senior executives in enterprises. In the future, this scale can be used by senior executives in enterprises as an evaluation tool to further explore its impact on sustainable development and to promote circular economy and sustainable development based on the reference provided.

Keywords: circular economy, corporate social responsibility, scale development, structural equation model

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Authors: Dzhavidan Zeinalov, Bugra Sen, Firangiz Aslanova

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Most text-to-speech models cannot operate well in low-resource languages and require a great amount of high-quality training data to be considered good enough. Yet, with the improvements made in ASR systems, it is now much easier than ever to collect data for the design of custom text-to-speech models. In this work, our work on using the ASR model to collect data to build a viable text-to-speech system for one of the leading financial institutions of Azerbaijan will be outlined. NVIDIA’s implementation of the Tacotron 2 model was utilized along with the HiFiGAN vocoder. As for the training, the model was first trained with high-quality audio data collected from the Internet, then fine-tuned on the bank’s single speaker call center data. The results were then evaluated by 50 different listeners and got a mean opinion score of 4.17, displaying that our method is indeed viable. With this, we have successfully designed the first text-to-speech model in Azerbaijani and publicly shared 12 hours of audiobook data for everyone to use.

Keywords: Azerbaijani language, HiFiGAN, Tacotron 2, text-to-speech, transfer learning, whisper

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Authors: Essa Njie

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One of the challenges that Africa needs to overcome for the sustenance of its democratic gains is to separate the state from the ruling party to avoid the latter’s attempt in monopolizing the former’s resources and institutions for political supremacy. But this separation must go along with the process of depoliticizing the civil services (separation from partisan politics) which have been politicized by incumbents to register electoral successes. While researches conducted on the Gambia’s democratic reality tend to have looked at a wide range of challenges confronting the country’s democratic progress, this paper focuses on state power monopolization and its impediment to democratic governance in the country. The paper explores the involvement of civil/public servants in partisan politics in the Gambia. It looks at the intertwined nature of the state and the ruling party as state resources could not be separated from that of the ruling party (lack of separation between political and non-political resources) in both Dawda Jawara and Yahya Jammeh eras, and how such affected the country’s democratic credential. The paper in particular addresses the need for the current government to depoliticize the country’s civil service and concomitantly separate the state from the ruling party by not monopolizing the former’s resources and institutions to galvanize political support.

Keywords: civil service, democratic consolidation, monopolisation, multi-party elections, public institutions, ruling party, state resources

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Authors: G. Lei, P. C. Dong, X. Q. Cen, S. Y. Mo

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One of the most significant parameters, describing the effect of water flooding in porous media, is flood-response time, and it is an important index in oilfield development. The responding time in low permeability reservoir is usually calculated by the method of stable state successive substitution neglecting the effect of medium deformation. Numerous studies show that the media deformation has an important impact on the development for low permeability reservoirs and can not be neglected. On the base of streamline tube model, we developed a method to interpret responding time with medium deformation factor. The results show that: the media deformation factor, threshold pressure gradient and well spacing have a significant effect on the flood response time. The greater the media deformation factor, threshold pressure gradient or well spacing is, the lower the flood response time is. The responding time of different streamlines varies. As the angle with the main streamline increases, the water flooding response time delays as a "parabola" shape.

Keywords: low permeability, flood-response time, threshold pressure gradient, medium deformation

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Authors: Gunay Imanguliyeva

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Burnout is one of the concerning issues in education. The present paper aimed to explore the concept of burnout among program directors and faculty working in three higher education institutions (HEIs) in Azerbaijan and identify the factors contributing to burnout and the possible consequences of this syndrome on research participants’ professional and personal life. The researcher believed that if the concept of burnout was defined precisely and explored among more faculty, administration, and educational institutions, university leadership may have looked for the ways to support program directors and faculty, which would increase job satisfaction and decrease turnover. An exploratory qualitative research design was chosen for this study. The conceptual framework of this study was based on the Maslach Burnout Inventory. The instruments of the research were semi-structured interviews, observation, and document review. Three EFL (Teaching English as a Foreign Language) instructors and three program directors of the English Language Department working in three higher educational institutions in Azerbaijan participated in this study. The major findings of this study showed that both program directors and faculty suffered from burnout. Though they were aware of the factors that caused burnout, they did not know how to deal with this feeling. While research participants had high feeling of Emotional Exhaustion and Depersonalization, they had a low feeling of Personal Accomplishment. The researcher suggests that further research is important to measure the level of burnout and to enable HEIs to increase the productivity of program directors’ and faculty’s work as well as decrease the rate of retention in future. Also, in order to help program directors and faculty to cope with burnout, the research recommends the university leadership to meet their psycho-social needs, emotional-physical needs, and personal-intellectual needs. Keywords: burnout, emotional exhaustion, factors, well-being, higher education

Keywords: burnout, well-being, higher education, factors

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Authors: Naziema B. Jappie

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Internationalization is very complex and multifaceted and has implications for the entire university sector, and the larger community which it serves. Higher education strategic plans require sustainability on all levels of academic engagement and internationalization contributes to the sustainability because of the global competition but, at the same time, ensures diversity on campuses. Universities all over the world are increasingly recognizing the challenges of globalization and the pressures towards internationalization. The past 25 years of internationalization has faded away, and new challenges have emerged. Although internationalization remains a central strategic objective for all universities, for many leaders and education practitioners it has remained a confused concept. It has various interpretations, and it intersects with numerous other national agendas in higher education domain; it often builds upon narrow notions limited to one of its facets –attracting international student fees for financial sustainability or for ensuring a diverse campus culture. It is essential to have clear institutional views, but it is imperative that everyone reflects on the values and beliefs that underpin the internationalization of higher education and have a global focus. This paper draws together the international experience locally and globally to explore the emerging patterns of strategy and practice in internationalizing higher education. This will highlight some critical notions of how the concepts of internationalization and globalization in the context of higher education is understood by those who lead universities and what new challenges are being created as universities seek to become more international. Institutions cannot simply have bullet points in the strategic plan about recruitment of international students; there has to be a complete commitment to an international strategy of inclusivity. This paper will further examine the leadership styles that ensure transformation together with the goals set out for internationalization. The interviews with the senior leadership are in-depth semi-structured recorded interviews of approximately one-hour to learn about their institutional experiences, promotion, and enhancement of the value of internationalisation to the tertiary education sector and initiating discussions around adding the international relations dimension to the curriculum. This paper will address the issues relevant to the cross-border delivery of higher education. To ensure anonymity throughout this study, the interviewees are identified only by their institutions.

Keywords: challenges, globalization, higher education, internationalization, strategic focus

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Authors: Kuek Teik Sheng, Leaw Zee Guan, Lim Wah Kien, Ting Tin Tin

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Educational technology such as YouTube and Kahoot have arisen as an alternative to effective learning among higher education institutions. There are many researches done in carrying out experiments to test different educational technologies and received positive feedback from students. Yet, similar study is hardly found in Malaysia especially study that includes the latest educational technologies. As a developing country, it is crucial to ensure that these emerging technologies are assisting students in learning process before it is widely adopted in institutions. This paper conducted a study to explore the perception of higher education institution students on the current educational technologies in Malaysia which include online educational games, online videos/course, social media, presentation tools and resource management tool. Some of these technologies have not been looked into its potential in effective learning process. An online survey using questionnaire is conducted among a target of 300 university/college. In the survey, the result shows that majority of the target students in Malaysia agree that the current educational technologies help them in learning, understanding and manage their studies. It is necessary to discover students’ perceptions on the educational technologies in order to provide guidelines for the educators/institutions in selecting appropriate technology to conduct the lecture/tutorial efficiently and effectively.

Keywords: education, educational technology, Facebook, PowerPoint, YouTube

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Authors: Natalia M. Acevedo, Luis M. Jimenez, Erick Lambis

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Imperfections in the capital market are used to argue the relevance of the corporate risk management function. With corporate hedge, the value of the company is increased by reducing the volatility of the expected cash flow and making it possible to face a lower bankruptcy costs and financial difficulties, without sacrificing tax advantages for debt financing. With the propose to avoid exchange rate troubles over cash flows of Colombian exporting firms, this dissertation uses financial options, over exchange rate between Peso and Dollar, for realizing a financial hedge. In this study, a strategy of hedge is designed for an exporting company in Colombia with the objective of preventing fluctuations because, if the exchange rate down, the number of Colombian pesos that obtains the company by exports, is less than agreed. The exchange rate of Colombia is measured by the TRM (Representative Market Rate), representing the number of Colombian pesos for an American dollar. First, the TMR is modelled through the Geometric Brownian Motion, with this, the project price is simulated using Montecarlo simulations and finding the mean of TRM for three, six and twelve months. For financial hedging, currency options were used. The 6-month projection was covered with financial options on European-type currency with a strike price of $ 2,780.47 for each month; this value corresponds to the last value of the historical TRM. In the compensation of the options in each month, the price paid for the premium, calculated with the Black-Scholes method for currency options, was considered. Finally, with the modeling of prices and the Monte Carlo simulation, the effect of the exchange hedging with options on the exporting company was determined, this by means of the unit price estimate to which the dollars in the scenario without coverage were changed and scenario with coverage. After using the scenarios: is determinate that the TRM will have a bull trend and the exporting firm will be affected positively because they will get more pesos for each dollar. The results show that the financial options manage to reduce the exchange risk. The expected value with coverage is approximate to the expected value without coverage, but the 5% percentile with coverage is greater than without coverage. The foregoing indicates that in the worst scenarios the exporting companies will obtain better prices for the sale of the currencies if they cover.

Keywords: currency hedging, futures, geometric Brownian motion, options

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Authors: Shakila Singh

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Dominant discourses constitute heterosexuality as natural, normal and the only legitimate sexuality, and diverse sexual subjectivities as abnormal, unnatural and socially taboo. Similarly, the cisgender subject is reified. There are ongoing debates about the inclusion and suitability of sexuality education in the school curriculum and research show that teachers are not adequately prepared to teach about such issues in the classroom. Not surprising then, that many young people enter these institutions having had limited previous exposure to, or education about, sex, gender and sexuality diversity. This paper discusses the presence of heterosexism and cissexism at multiple layers in higher education institutions, impacting students and staff. Increasing knowledge and awareness of sex, gender and sexuality diversities is also crucial to challenging existing perceptions of sex, gender and sexuality diversities that marginalise and subordinate a large proportion of students and staff. There is a persistent disjuncture between dominant discourses that generally position higher education institutions as socially progressive, open environments and the discourses that legitimate the ascendency of heterosexual and cisgender identities. This paper argues that such disjuncture must be addressed by providing inclusive physical and emotional spaces if universities are to affirm every individual and produce graduates across all disciplines with the cultural capability to engage with increasingly diverse communities. Given the key role of language in shaping cultural and social attitudes, using gender-inclusive language is a powerful way to promote gender equality and eradicate gender bias. This means speaking and writing in a way that does not discriminate against a particular sex, gender or sexual identity and does not perpetuate gender stereotypes. Individuals must be allowed to present themselves and identify in ways they choose and be addressed by their chosen pronouns.

Keywords: heteronormativity, inclusivity, gender, universities

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Authors: Burcu Oksuz, Volkan Altıintas, Zulfiye Acar Senturk

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Though in the academic literature, it is emphasized that Public Relations (PR) should not be seen only as media relations, in practise, the media relations has a very dominant position at the communication studies carried out by many companies. There are many PR practitioners who have journalism background. However the number of the practitioners who have started to work in the sector after having PR education at the universities has been highly increasing. Therefore, it can be said that previous journalist dominance has diminished at the public relations sector in Turkey. However, by virtue of the fact that some companies and practitioners consider the media coverage the first priority of PR, this much is certain that the dominant position of media relations is ongoing. On the other hand, still many companies measure the success of their PR by how much place their companies have taken. This situation creates major pressure on the PR practitioners to have close relations with the media members and to make them write articles about their companies. Thereupon, PR practitioners have to take the time for the media relations and the media relations comes into prominence more than the other PR functions. The aim of this study is to reveal the PR functions at the companies and to evaluate the position of the media relations in the PR studies. Therefore, it is aimed to find out at what extend the discourse of “Public relations is not media relations” is accepted in practice and actualised. Accordingly, a research about 15 hotel enterprises which are located in the city of İzmir will be carried out. İzmir as one of the most important tourism destinations has many hotels. The PR/corporate communications managers will be interviewed profoundly within the scope of this study and PR functions performed by hotels will be discussed in details in consideration of the datum obtained.

Keywords: media relations, public relations, public relations practitioners, Turkey

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Authors: Antonella Hadzich, Santiago Flores

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Alkyds have become essential raw materials in the coating and paint industry, due to their low cost, good application properties and lower environmental impact in comparison with petroleum-based polymers. The properties of these oil-modified materials depend on the type of polyunsaturated vegetable oil used for its manufacturing, since a higher degree of unsaturation provides a better crosslinking of the cured paint. Linum usitatissimum L. (flax) oil is widely used to develop alkyd resins due to its high degree of unsaturation. Although it is intended to find non-traditional sources and increase their commercial value, to authors’ best knowledge a natural source that can replace flaxseed oil has not yet been found. However, Plukenetia volubilis L. oil, of Peruvian origin, contains a similar fatty acid polyunsaturated content to the one reported for Linum usitatissimum L. oil. In this perspective, medium alkyd resins were prepared with a mixture of 50% of Linum usitatissimum L. oil and 50% of Plukenetia volubilis L. oil. Pure Linum usitatissimum L. oil was also used for comparison purposes. Three different resins were obtained by varying the amount of glycerol and pentaerythritol. The synthesized alkyd resins were characterized by FT-IR, and physicochemical properties like acid value, colour, viscosity, density and drying time were evaluated by standard methods. The pencil hardness and chemical resistance behaviour of the cured resins were also studied. Overall, it can be concluded that medium alkyd resins containing Plukenetia volubilis L. oil have an equivalent behaviour compared to those prepared purely with Linum usitatissimum L. oil. Both Plukenetia volubilis L. oil and pentaerythritol have a remarkable influence on certain physicochemical properties of medium alkyd resins.

Keywords: alkyd resins, flaxseed oil, pentaerythritol, Plukenetia volubilis L. oil, protective coating

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Authors: Moksha Singh

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The proponents of deinstitutionalization, including Goffman and others, in their works, have regarded institutions (orphanages to be specific) as regulated social arrangements that negatively impinge upon a resident’s development. They, therefore, propose alternative forms of care. However, even after five decades of this critique institutionalization remains the only hope for children with social, physical and mental disabilities in larger parts of the developing world such as the conflict affected state of Jammu and Kashmir in India. This paper is based on the experiences of children who lost their parents to insurgency and counter-insurgency operations and the rehabilitation process. This study is qualitative in nature and adopts descriptive-cum-exploratory research design. Using theoretical sampling, six orphanages and thirty one child residents who lost their parent(s) in the course of the armed conflict in the state of Jammu and Kashmir in India were studied in the year 2009-2010. It included interviews, observation, life histories and introspective accounts of the orphans and the management. The results were drawn through the qualitative examination, understanding, and interpretation of the primary and secondary data. The findings suggested that rehabilitation of these conflict-affected children is taking place mainly through residential child care facilities run by non-governmental bodies. Alternative forms of rehabilitation are not functional in the state because of various geopolitical and socio-cultural complexities. Even after five years of arriving at these conclusions and more, the state of Jammu and Kashmir still lacks a comprehensive rehabilitation plan for these children. This has further encouraged a mushroomed growth of legal and illegal institutions. Some of these institutions compromise the standard norms of functioning and yet remain the only hope for thousands rendered orphan. These institutions, therefore, are there to stay as other alternative forms of care are not available in the state. A comprehensive intervention policy is needed based on the cultural specifics of the state and incorporation of views of institutions offering aid, the state and the children. The paper introduces Small Group Residential Care Model through which it is expected that the restoration process can be made smooth and effective.

Keywords: armed conflict, children's rights, institutionalization, orphanages, rehabilitation

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Authors: Zoran Barac, Maja Martinovic

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Higher Education Institutions (HEIs) are a special kind of organization, with its unique purpose and combination of actors. From the societal point of view, they are central institutions in the society that are involved in the activities of education, research, and innovation. At the same time, their societal function derives complex relationships between involved actors, ranging from students, faculty and administration, business community and corporate partners, government agencies, to the general public. HEIs are also particularly interesting as objects of governance research because of their unique public purpose and combination of stakeholders. Furthermore, they are the special type of institutions from an organizational viewpoint. HEIs are often described as “loosely coupled systems” or “organized anarchies“ that implies the challenging nature of their governance models. Governance models of HEIs describe roles, constellations, and modes of interaction of the involved actors in the process of strategic direction and holistic control of institutions, taking into account each particular context. Many governance models of the HEIs are primarily based on the balance of power among the involved actors. Besides the actors’ power and influence, leadership style and environmental contingency could impact the governance model of an HEI. Analyzing them through the frameworks of institutional and contingency theories, HEI governance models originate as outcomes of their institutional and contingency adaptation. HEIs tend to fit to institutional context comprised of formal and informal institutional rules. By fitting to institutional context, HEIs are converging to each other in terms of their structures, policies, and practices. On the other hand, contingency framework implies that there is no governance model that is suitable for all situations. Consequently, the contingency approach begins with identifying contingency variables that might impact a particular governance model. In order to be effective, the governance model should fit to contingency variables. While the institutional context creates converging forces on HEI governance actors and approaches, contingency variables are the causes of divergence of actors’ behavior and governance models. Finally, an HEI governance model is a balanced adaptation of the HEIs to the institutional context and contingency variables. It also encompasses roles, constellations, and modes of interaction of involved actors influenced by institutional and contingency pressures. Actors’ adaptation to the institutional context brings benefits of legitimacy and resources. On the other hand, the adaptation of the actors’ to the contingency variables brings high performance and effectiveness. HEI governance models outlined and analyzed in this paper are collegial, bureaucratic, entrepreneurial, network, professional, political, anarchical, cybernetic, trustee, stakeholder, and amalgam models.

Keywords: governance, governance models, higher education institutions, institutional context, situational context

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Authors: M. Miriam Hernández-Arroyo, Ivonne Caro-Gonzales, Miguel Ángel Plascencia-Espinosa, Sergio R. Trejo-Estrada

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A large biodiversity of Lactobacillus strains has been detected in traditional foods and beverages from Mexico. A selected strain of Lactobacillus sp - PODI-20, used for the obtained from an artisanal fermented beverage was cultivated in different carbon sources in a complex medium, in order to define which carbon sourced induced more effectively the isomerization of arabinose by cell fractions obtained by fermentation. Four different carbon sources were tested in a medium containing peptone and yeast extract and mineral salts. Glucose, galactose, arabinose, and lactose were tested individually at three different concentrations: 3.5, 6, and 10% w/v. The biomass yield ranged from 1.72 to 17.6 g/L. The cell pellet was processed by mechanical homogenization. Both fractions, the cellular debris, and the lysis supernatant were tested for their ability to isomerize arabinose into ribulose. The highest yield of isomer was 12 % of isomerization in the supernatant fractions; whereas up to 9.3% was obtained by the use of cell debris. The isomerization of arabinose has great significance in the production of lactic acid by fermentation of complex carbohydrate hydrolysates.

Keywords: isomerase, tagatose, aguamiel, isomerization

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Authors: Sandra Rigot, Samira Demaria, Frederic Lemaire

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The starting point of this research is the contemporary capitalist paradox: there is a real scarcity of long term investment despite the boom of potential long term investors. This gap represents a major challenge: there are important needs for long term financing in developed and emerging countries in strategic sectors such as energy, transport infrastructure, information and communication networks. Moreover, the recent financial and sovereign debt crises, which have respectively reduced the ability of financial banking intermediaries and governments to provide long term financing, questions the identity of the actors able to provide long term financing, their methods of financing and the most appropriate forms of intermediation. The issue of long term financing is deemed to be very important by the EU Commission, as it issued a 2013 Green Paper (GP) on long-term financing of the EU economy. Among other topics, the paper discusses the impact of the recent regulatory reforms on long-term investment, both in terms of accounting (in particular fair value) and prudential standards for banks. For banks, prudential and accounting standards are also crucial. Fair value is indeed well adapted to the trading book in a short term view, but this method hardly suits for a medium and long term portfolio. Banks’ ability to finance the economy and long term projects depends on their ability to distribute credit and the way credit is valued (fair value or amortised cost) leads to different banking strategies. Furthermore, in the banking industry, accounting standards are directly connected to the prudential standards, as the regulatory requirements of Basel III use accounting figures with prudential filter to define the needs for capital and to compute regulatory ratios. The objective of these regulatory requirements is to prevent insolvency and financial instability. In the same time, they can represent regulatory constraints to long term investing. The balance between financial stability and the need to stimulate long term financing is a key question raised by the EU GP. Does fair value accounting contributes to short-termism in the investment behaviour? Should prudential rules be “appropriately calibrated” and “progressively implemented” not to prevent banks from providing long-term financing? These issues raised by the EU GP lead us to question to what extent the main regulatory requirements incite or constrain banks to finance long term projects. To that purpose, we study the 292 responses received by the EU Commission during the public consultation. We analyze these contributions focusing on particular questions related to fair value accounting and prudential norms. We conduct a two stage content analysis of the responses. First, we proceed to a qualitative coding to identify arguments of respondents and subsequently we run a quantitative coding in order to conduct statistical analyses. This paper provides a better understanding of the position that a large panel of European stakeholders have on these issues. Moreover, it adds to the debate on fair value accounting and its effects on prudential requirements for banks. This analysis allows us to identify some short term bias in banking regulation.

Keywords: basel 3, fair value, securitization, long term investment, banks, insurers

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Authors: Mokopane Charles Marakalala

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Research shows that mobile fraud has grown exponentially in South Africa during the lockdown caused by the COVID-19 pandemic. According to the South African Banking Risk Information Centre (SABRIC), fraudulent online banking and transactions resulted in a sharp increase in cybercrime since the beginning of the lockdown, resulting in a huge loss to the banking industry in South Africa. While the Financial Intelligence Centre Act, 38 of 2001, regulate financial transactions, it is evident that criminals are making use of technology to their advantage. Money-laundering ranks among the major crimes, not only in South Africa but worldwide. This paper focuses on the impact of biometric-based solutions in combatting mobile fraud at the South African Risk Information. SABRIC had the challenges of a successful mobile fraud; cybercriminals could hijack a mobile device and use it to gain access to sensitive personal data and accounts. Cybercriminals are constantly looting the depths of cyberspace in search of victims to attack. Millions of people worldwide use online banking to do their regular bank-related transactions quickly and conveniently. This was supported by the SABRIC, who regularly highlighted incidents of mobile fraud, corruption, and maladministration in SABRIC, resulting in a lack of secure their banking online; they are vulnerable to falling prey to fraud scams such as mobile fraud. Criminals have made use of digital platforms since the development of technology. In 2017, 13 438 instances involving banking apps, internet banking, and mobile banking caused the sector to suffer gross losses of more than R250,000,000. The final three parties are forced to point fingers at one another while the fraudster makes off with the money. A non-probability sampling (purposive sampling) was used in selecting these participants. These included telephone calls and virtual interviews. The results indicate that there is a relationship between remote online banking and the increase in money-laundering as the system allows transactions to take place with limited verification processes. This paper highlights the significance of considering the development of prevention mechanisms, capacity development, and strategies for both financial institutions as well as law enforcement agencies in South Africa to reduce crime such as money-laundering. The researcher recommends that strategies to increase awareness for bank staff must be harnessed through the provision of requisite training and to be provided adequate training.

Keywords: biometric-based solution, investigation, cybercrime, forensic investigation, fraud, combatting

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Authors: Ilir Rexhepi, Naim Ismajli

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Quality and quality management are key factors of success nowadays. Public sector and quality management in this sector contains many challenges and difficulties, most notably in a new country like Kosovo. This study analyses the process of implementation of quality management system in public administration institutions in this country. The main objective is to show how to set up a quality management system and how does the quality management system setup affect the overall public administration services in Kosovo. This study shows how the efficiency and effectiveness of public institution services/performance is rapidly improving through the establishment and functionalization of Quality Management System. The specific impact of established QMC within the organization has resulted with the identification of mission related processes within the entire system including input identification, the person in charge and the way of conversion to the output of each activity though the interference with other service processes within the system. By giving detailed analyses of all steps of implementation of the Quality Management System, its effect and consequences towards the overall public institution service performance, we try to go one step further, by showing it as a very good example or tool of other public institutions for improving their service performance. Interviews with employees, middle and high level managers including the quality manager and general secretaries are also part of analyses in this paper.

Keywords: quality, quality management system, efficiency, public administration institutions

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Authors: Omran Alharbi, Victor Lally

Abstract:

In recent decades, a number of educational institutions around the world have come to depend on technology such as the Blackboard system to improve their educational environment. On the other hand, there are many factors that delay the usage of this technology, especially in developing nations such as Saudi Arabia. The goal of this study was to investigate learner’s views of the use of Blackboard in one Saudi university in order to gain a comprehensive view of the factors that delay the implementation of technology in Saudi institutions. This study utilizes a qualitative approach, with data being collected through semi-structured interviews. Six participants from different disciplines took part in this study. The findings indicated that there are two levels of factors that affect students’ use of the Blackboard system. These are factors at the institutional level, such as lack of technical support and lack of training support, which lead to insufficient training related to the Blackboard system. The second level of factors is at the individual level, for example, a lack of teacher motivation and encouragement. In addition, students do not have sufficient levels of skills or knowledge related to how to use the Blackboard in their learning. Conclusion: learners confronted and faced two main types of factors (at the institution level and individual level) that delayed and impeded their learning. Institutions in KSA should take steps and implement strategies to remove or reduce these factors in order to allow students to benefit from the latest technology in their learning.

Keywords: blackboard, factors, KSA, learners

Procedia PDF Downloads 209

Authors: Grippin Akeng, Suresh Kumar Muniandy, Nor Aini Ab Shukor

Abstract:

Plant regeneration was achieved from shoot tip and nodal segment of Gonystylus bancanus (Miq) Kurz. cultured in Murashige and Skoog’s medium supplemented with various concentrations of 6-benzylaminopurine (BAP). The most optimum concentration of BAP for shoot initiation is 10.0 mgl⁻¹ with approximately 10% of shoot tip and 15% of nodal segment produced single shoot after 28 and 15 days of culture incubation respectively. Rooting was achieved when shoots were transferred into MS medium supplemented with 5.0 mgl⁻¹ Naphthalene acetic acid (NAA). Synthesizing results developed through this research can be a starting point for the upscalling and optimization process in future.

Keywords: gonystylus bancanus, organogenesis, shoot initiation, shoot tip

Procedia PDF Downloads 237

Authors: Soniya Chaudhary

Abstract:

The present study analyses the propagation of Love wave in rotating piezoelectric layer lying over an elastic substrate with corrugated boundaries. The appropriate solutions in the considered medium satisfy the required boundary conditions to obtain the dispersion relation of Love wave for charge free as well as electrically shorted cases. The effects of rotation are shown by graphically on the non-dimensional speed of the Love wave. In addition to classical case, some existing results have been deduced as particular case of the present study. The present study may be useful in rotation sensor and SAW devices.

Keywords: corrugation, dispersion relation, love wave, piezoelectric

Procedia PDF Downloads 218

Authors: S. Sadallah

Abstract:

In this paper, dynamic programming is used to determine the optimal management of financial resources in company. Solution of the problem by consider into simpler substructures is constructed. The optimal management of internal capital of company are simulated. The tools applied in this development are based on graph theory. The software of given problems is built by using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: management, software, optimal, greedy algorithm, graph-diagram

Procedia PDF Downloads 278

Authors: Yosra Mefteh Rekik

Abstract:

A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

Procedia PDF Downloads 426

Authors: Chandrashekar, R. T. Radhika, B. M. Venkatesha, S. Ananda, Shivalingegowda, T. S. Shashikumar, H. Ramachandra

Abstract:

The kinetics of the oxidation of amitriptyline (AT) by sodium N-bromotoluene sulphonamide (C₆H₅SO₂NBrNa) has been studied in an acidic buffer medium of pH 1.2 at 303 K. The oxidation reaction of AT was followed spectrophotometrically at maximum wavelength, 410 nm. The reaction rate shows a first order dependence each on concentration of AT and concentration of sodium N-bromotoluene sulphonamide. The reaction also shows an inverse fractional order dependence at low or high concentration of HCl. The dielectric constant of the solvent shows negative effect on the rate of reaction. The addition of halide ions and the reduction product of BAT have no significant effect on the rate. The rate is unchanged with the variation in the ionic strength (NaClO₄) of the medium. Addition of reaction mixtures to be aqueous acrylamide solution did not initiate polymerization, indicating the absence of free radical species. The stoichiometry of the reaction was found to be 1:1 and oxidation product of AT is identified. The Michaelis-Menton type of kinetics has been proposed. The CH₃C₆H₅SO₂NHBr has been assumed to be the reactive oxidizing species. Thermodynamical parameters were computed by studying the reactions at different temperatures. A mechanism consistent with observed kinetics is presented.

Keywords: amitriptyline, bromamine-T, kinetics, oxidation

Procedia PDF Downloads 331

Authors: Delia Gabriela Moisa, Demos Parapanos, Tim Heap

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The tourism sector is mainly comprised of small and medium-sized tourism enterprises (SMEs), representing approximately 80% of global businesses in this field. These entities require focused attention and support to address challenges, ensuring their competitiveness and relevance in a dynamic industry characterized by continuously changing customer preferences. To address these challenges, it becomes imperative to consider not only socio-demographic factors but also delve into the intricate interplay of psychological elements influencing consumer behavior. This study investigates the impact of personality traits and travel motivations on visitor activities in Cumbria, United Kingdom, an iconic region marked by UNESCO World Heritage Sites, including The Lake District National Park and Hadrian's Wall. With a £4.1 billion tourism industry primarily driven by SMEs, Cumbria serves as an ideal setting for examining the relationship between tourist psychology and activities. Employing the Big Five personality model and the Travel Career Pattern motivation theory, this study aims to explain the relationship between psychological factors and tourist activities. The study further explores SME perspectives on personality-based market segmentation, providing strategic insights into addressing evolving tourist preferences.This pioneering mixed-methods study integrates quantitative data from 330 visitor surveys, subsequently complemented by qualitative insights from tourism SME representatives. The findings unveil that socio-demographic factors do not exhibit statistically significant variations in the activities pursued by visitors in Cumbria. However, significant correlations emerge between personality traits and motivations with preferred visitor activities. Open-minded tourists gravitate towards events and cultural activities, while Conscientious individuals favor cultural pursuits. Extraverted tourists lean towards adventurous, recreational, and wellness activities, while Agreeable personalities opt for lake cruises. Interestingly, a contrasting trend emerges as Extraversion increases, leading to a decrease in interest in cultural activities. Similarly, heightened Agreeableness corresponds to a decrease in interest in adventurous activities. Furthermore, travel motivations, including nostalgia and building relationships, drive event participation, while self-improvement and novelty-seeking lead to adventurous activities. Additionally, qualitative insights from tourism SME representatives underscore the value of targeted messaging aligned with visitor personalities for enhancing loyalty and experiences. This study contributes significantly to scholarship through its novel framework, integrating tourist psychology with activities and industry perspectives. The proposed conceptual model holds substantial practical implications for SMEs to formulate personalized offerings, optimize marketing, and strategically allocate resources tailored to tourist personalities. While the focus is on Cumbria, the methodology's universal applicability offers valuable insights for destinations globally seeking a competitive advantage. Future research addressing scale reliability and geographic specificity limitations can further advance knowledge on this critical relationship between visitor psychology, individual preferences, and industry imperatives. Moreover, by extending the investigation to other districts, future studies could draw comparisons and contrasts in the results, providing a more nuanced understanding of the factors influencing visitor psychology and preferences.

Keywords: personality trait, SME, tourist behaviour, tourist motivation, visitor activity

Procedia PDF Downloads 58